GOLD PRICE CLOSED DOWN $15.35 TO $2565,90

SILVER PRICE DOWN $0,13 TO $30.64

Gold ACCESS CLOSED $2569,10

Silver ACCESS CLOSED: $30.69

Bitcoin morning price:$58,863 UP 1072 DOLLARS.

Bitcoin: afternoon price: $60,471 UP 2730 DOLLARS

Platinum price closing DOWN$2,75TO $983,40

Palladium price; UP $32,75TO $1108,39

END

*CANADIAN GOLD: $3492,71 DOWN 17.60CDN dollars per oz( * NEW ALL TIME HIGH 3,508,98CDN DOLLARS PER OZ//SEPT 13 2024)

*BRITISH GOLD: 1,952,18 DOWN 3,60Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1966,85BRITISH POUNDS/OZ) SEPT 13/2024

*EURO GOLD: 2,311,42 DOWN 9.98 Euros per oz //* (ALL TIME CLOSING HIGH: 2.327.23UROS PER OZ//SEPT 13//.2024)

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,580.400000000 USD
INTENT DATE: 09/16/2024 DELIVERY DATE: 09/18/2024
FIRM ORG FIRM NAME ISSUED STOPPED

323 C HSBC 1
363 H WELLS FARGO SEC 7
624 H BOFA SECURITIES 12
657 C MORGAN STANLEY 1
685 C RJ OBRIEN 30
686 C STONEX FINANCIA 1
737 C ADVANTAGE 3 11

TOTAL: 33 33
MONTH TO DATE: 4,002

323 C HSBC 1
363 H WELLS FARGO SEC 7
624 H BOFA SECURITIES 12
657 C MORGAN STANLEY 1
685 C RJ OBRIEN 30
686 C STONEX FINANCIA 1
737 C ADVANTAGE 3 11

TOTAL: 33 33
MONTH TO DATE: 4,002

JPMorgan stopped 0/33

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2024. CONTRACT: 33 NOTICES FOR 3300 OZ or 0.1026 TONNES

total notices so far: 4002 contracts for 400,200 Oz (12.4479 tonnes)

FOR SEPT:

SILVER NOTICES: 54 NOTICE(S) FILED FOR 270,000 OZ/

total number of notices filed so far this month : 4,911 for 24.555 million oz

XXXXXXXXXXXXXXXXXX

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

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 $15,35 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ HUGECHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.52 TONNES OF GOLD INTO THE GLD

/ /INVENTORY RESTS AT 872,23 TONNES

INVENTORY RESTS AT 872,23TONNES

SLV/

WITH NO SILVER AROUND AND SILVER DOWN $0.13 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 5.976 MILLION OZ FROM THE SLV FROM THE SLV

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 462,63 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A MEGA HUGE SIZED 1752 CONTRACTS TO 138,956 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 DESPITE OUR SMALL GAIN OF $0.10 IN SILVER PRICING AT THE COMEX ON MONDAY’S TRADING. WE LOST ZERO NET LONGS WITH THE GAIN IN PRICE. WE HAD A MEGA HUMONGOUS GAIN OF 2377 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS DURING MONDAY’S TRADING//. WE HAD CONSIDERABLE SHORT COVERING BY OUR SPECS WITH THE SMALL GAIN IN PRICE. WE HAD A VERY STRONG 625 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER HUGE 931 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED A HUMONGOUS 2377 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 MONDAY NIGHT: 931 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 $0.10) AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUMONGOUS GAIN OF 2377 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES.

WE HAD A HUGE 625 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 225,000 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 24.835 MILLION OZ

//NEW STANDING FOR SILVER//SEPT ADVANCES TO 24.835 MILLION OZ

WE HAD:

/ MEGA HUGE SIZED COMEX OI GAIN //HUGE SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 931 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 404 CONTRACTS.

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

TOTAL CONTRACTS for 11 DAYS, total 11,412 contracts: OR 57.060 MILLION OZ (10737CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 57,060 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: 57.060 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 1752 CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//MONAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS:625 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 225,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR SEPT ADVANCES TO 24.835 MILLION OZ

WE HAVE A MEGA HUMONGOUS GAIN OF 2377 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 931 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS DESPITE THE SMALL GAIN IN PRICE MONDAY/ AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

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

WE HAD 54 NOTICE(S) FILED TODAY FOR 270,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 1018 OI CONTRACTS TO 543,330 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 2831 CONTRACTS//

WE HAD A FAIR SIZED DECREASE IN COMEX OI (1018CONTRACTS) OCCURRED WITH OUR LOSS OF $1.25 IN PRICE /MONDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR SEPT AT 12.885 TONNES ON FIRST DAY NOTICE FOLLOWED BY MONDAYS SMALL 200 OZ E.F.P.JUMP TO LONDON.

NEW STANDING REDUCES TO 12.6811 TONNES

/ ALL OF THIS HAPPENED WITH OUR $1.25 LOSS N PRICE WITH RESPECT TO MONDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 4074 OI CONTRACTS (12.67 PAPER TONNES) ON OUR TWO EXCHANGES, WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUMONGOUS SIZED 5092 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 543,330

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 4074 CONTRACTS WITH 1,018 CONTRACTS DECREASED AT THE COMEX// AND A HUGE SIZED 5092 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 6905 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A GOOD SIZED 1771 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A HUMONGOUS SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5092 CONTRACTS) ACCOMPANYING THE FAIR SIZED DECREASE IN COMEX OI OF 1018 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 6905 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 200 OZ E,F,P. JUMP TO LONDON

//NEW STANDING REDUCES TO: /SEPT 12.6811 TONNES.

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

4) FAIR SIZED COMEX OPEN INTEREST DECREASE 5) HUMONGOUS ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///GOOD T.A.S. ISSUANCE: 1771 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: 59,244CONTRACTS OF 5,924,400 OZ OR 184,27 TONNES IN 11TRADING DAY(S) AND THUS AVERAGING: 5385 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 11 TRADING DAY(S) IN TONNES 184.27BTONNES

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

THUS EFP TRANSFERS REPRESENTS 184.27 DIVIDED BY 3550 x 100% TONNES = 5,21% 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: 184.27 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 1752 CONTRACTS OI TO 138,956 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 625 CONTRACTS

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

DEC 625 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 625 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 1752 CONTRACTS AND ADD TO THE 625 E.FP. ISSUED

WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2781 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 13.905 MILLION OZ OCCURRED WITH OUR $0.10 GAIN IN PRICE

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING/MONDAY NIGHT

SHANGHAI CLOSED DOWN 13.95 PTS OR .49% //Hang Seng CLOSED UP 237.90 PTS OR 1.37% // Nikkei CLOSED DOWN 378.54 OR 1.03 %//Australia’s all ordinaries CLOSED UP 0.24%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0903 CHINESE YUAN OFFSHORE CLOSED UP TO 7.0936 Oil UP TO 70,31 dollars per barrel for WTI and BRENT UP AT 72.75 Stocks in Europe OPENED ALL GREEN

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

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 1018CONTRACTS TO 543,330 DESPITE OUR LOSS IN PRICE OF $1.25 WITH RESPECT TO MONDAY’S TRADING. WE LOST ZERO IN NUMBER LONGS DESPITE THE LOWER 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 MONDAY’S LOSS 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 5092 EFP CONTRACTS WERE ISSUED: : OCT/DEC 29796& ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5092 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 STRONG SIZED TOTAL OF 4074 CONTRACTS IN THAT 5092 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR LOSS OF 1018 COMEX CONTRACTS..AND THIS VERY STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $1.25/MONAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE.

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 MONDAY NIGHT A FAIR SIZED 1771 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 (12.6811 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. 12.6811TONNES.

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $1.25/)//BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES. WE HAD ZERO T.A.S. SPREADER LIQUIDATION. BUT CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY.

WE HAVE GAINED A TOTAL OF 21.447 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR SEPT (12.885 TONNES) ON FIRST DAY NOTICE FOLLOWED BY MONDAY’S E,F,P, JUMP TO LONDON OF A SMALL SIZED 200 OZ

//NEW STANDING FOR SEPT REDUCEES TO: 12.6811 TONNES.

NEW STANDING FOR SEPT: 12.6811 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $1.25

WE HAVE REMOVED 2831 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 4074 CONTRACTS OR 407,400 OZ (12.67

TONNES)

confirmed volume MONDAY 137,267contracts poor

//speculators have left the gold arena

END

SEPT 17 SEPTEMBER GOLD CONTRACT

/ /// THE SEPT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	NIL Oz .
Deposit to the Dealer* Inventory in oz*	2999,640 OZ DELAWARE
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	33 notice(s) 3300 OZ 0.1026TONNES
No of oz to be served (notices)	75contracts 7500OZ 0.2332TONNES
Total monthly oz gold served (contracts) so far this month	4002 notices 400,200oz 12.34479TONNES
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

1 dealer deposits:

I) into Delaware

2999,640 oz

total dealer deposits: 2999.640oz

we have 0 customer deposits

total deposits nil oz

withdrawals: 0

TOTAL WITHDRAWALS: nil oz

adjustments:1

i) Loomis 675.171 oz dealer to customer

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER

For the front month of SEPT. we have an oi of 108contracts having LOST 15 contracts. We had 13 notices filed on MONDAY so we LOST 2 contracts or 200 oz will NOT stand at the comex as these boys seek metal on OTHER side of the pond as they wished to take immediate delivery of gold on the T Plus 1 basis,

OCTOBER LOST 1299 CONTRACTS UP TO 41,150 CONTRACTS

NOVEMBER GAINED 4 CONTRACTS TO STAND AT 340

DECEMBER, THE BIGGEST DELIVERY MONTH LOST 613 CONTRACTS TO 441,699

We had 33 contracts filed for today representing 3300 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 33 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 (4002 100 oz ) to which we add the difference between the open interest for the front month of SEPT 108CONTRACTS) minus the number of notices served upon today (33x 100 oz per contract( equals 407,700 OZ OR 12.68711TONNES.

thus the INITIAL standings for gold for the SEPTEMBER contract month: No of notices filed so far (4002 x 100 oz +we add the difference for front month of SEPT (108 , OI} minus the number of notices served upon today (33 x 100 oz which equals 407,700 oz (12.611 TONNES)

TOTAL COMEX GOLD STANDING FOR SEPT.: 12.6811T ONNES WHICH IS HUGE FOR THIS NON ACTIVE DELIVERY MONTH IN THE CALENDAR.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES

204,937.290 OZ PLEDGED MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes

265,999.054, oz JPM No 2

1,152,376.639 oz pledged Brinks/

Manfra: 33,758.550 oz

Delaware: 193.721 oz

International Delaware:: 11,188.542 oz

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

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 16,973,660.159 OZ

TOTAL REGISTERED GOLD 7,486,.11 .733 232.84tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 9,487,048,366OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,600167oz (REG GOLD- PLEDGED GOLD)= 174,18tonnes //

END

SILVER/COMEX

SEPT 172024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	40,059.640OZ Loomis .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	596,525,100 oz ASAHI
No of oz served today (contracts)	54 CONTRACT(S) (270,,000 OZ)
No of oz to be served (notices)	56 contracts (0.280million oz)
Total monthly oz silver served (contracts)	4911 Contracts (24.555 MILLION oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit/

total dealer deposit : NIL oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 1 customer deposits:

I) Into ASAHI: 596,225.100 oz

total customer deposit 596,225.100 oz

JPMorgan has a total silver weight: 134.996million oz/3056,483million or 44.13%

adjustment:1 dealer to customer ASAHI 1,390,871,900 oz

withdrawals: 1

i) Out of Loomis 40,059,640 oz

total customer withdrawals: 40,059.640oz

TOTAL REGISTERED SILVER: 74.777MILLION OZ//.TOTAL REG + ELIGIBLE. 306,483million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR SEPTEMBER:

silver open interest data:

FRONT MONTH OF SEPT/2024 OI: 110 CONTRACTS HAVING GAINED 24 CONTRACT(S).

WE HAD 21 NOTICES FILED ON MONDAY, SO WE GAINED 45 CONTRACTS OR 225,000OZ

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 1404 OPEN INTEREST CONTRACTS FOR OCTOBER.

NOVEMBER SAW A ZER0 GAIN OF CONTRACTS TO STAND AT 109

DECEMBER SAW A GAIN OF 1602 CONTRACTS UP TO 121,897

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 54 for 270,000oz

CONFIRMED volume; ON MONDAY 53,357 poor

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 4911 x 5,000 oz = 24.555 MILLION oz

to which we add the difference between the open interest for the front month of SEPT(110)and the number of notices served upon today 54x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the SEPT/2024 contract month: 4911 notices served so far) x 5000 oz + OI for the front month of SEPT (110)x number of notices served upon today minus (54)x 5000 oz of silver standing for the SEPT contract month equates to 24.835 MILLION OZ.

New total standing: 24..835 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 17WITH GOLD DOWN $15.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A HUGE DEPOSIT OF 1.52 TONNES INTO THE GLD /:// //////INVENTORY RESTS AT 872.23TONNES

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: 872.23TONNES, TONIGHTS TOTAL

SILVER

SEPT17 WITH SILVER DOWN $0.13 : HUGE CHANGES IN SILVER INVENTORY:. A WITHDRAWALOF 5.976 MILLION OZ FROM THE SLV/. /: .///./// /INVENTORY AT SLV 462MILLION OZ

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 462,630 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

Nassim Taleb: People Aren’t Seeing The Real De-Dollarization

Tuesday, Sep 17, 2024 – 02:35 PM

Authored by Mike Maharrey via MoneyMetals.com,

It’s not a “black swan” event. In fact, it’s playing out right before our eyes and was entirely predictable. The world is slowly but surely spurning the dollar.

But most people haven’t noticed.

De-dollarization might seem like a wild conspiracy theory, but it is happening. Countries worldwide are trying to limit their exposure to the greenback, and the dollar’s clout is slowly ebbing.

No, the dollar isn’t on the verge of collapse due to a major trauma. It’s more like death by a million papercuts.

Nassim Taleb, best known for his book The Black Swan, said in a post on X that “people are not seeing the real de-dollarization in progress.”

He pointed out that global transactions are still generally labeled in dollars “as an anchor currency.”

“But central banks (particularly BRICS) have been storing, that is putting their reserves, in Gold.”

In other words, the dollar still serves as the primary medium of exchange, but more and more countries are turning to gold as a store of value. As author Richard Turrin put it, “The US will tout the USD’s high percentage use in trade all the way to the bottom.”

Turrin pointed out that the “dollar’s high percentage in trade settlements is increasingly meaningless” for two reasons.

Gold holdings show reserve storage
Migration of trade to alternate currencies isn’t captured on SWIFT statistics.

This trend toward storing wealth in gold instead of dollars makes sense given the U.S. government’s persistent evaluation of its currency that seems to be accelerating.

Luke Gormen, founder and president of Forest for the Trees confirmed Taleb’s point with a graph, noting that this de-dollarization trend has been in play for more than a decade and “got much louder post-2022 sanctioning of Russian FX reserves.”

In fact, dollar reserves globally have dropped by 14 percent since 2002. And as the graph shows, de-dollarization accelerated after the U.S. and her Western allies aggressively sanctioned Russia and froze the country’s assets after it invaded Ukraine.

Geopolitical and financial analyst Angelo Giuliano posted the same graph asserting, “De-dollarization is happening.”

“The US dollar Ponzi scheme is collapsing…the US exorbitant privilege to print endless amount of paper toilet currency is over.”

He noted that gold hit yet another all-time high on Sept. 12, saying, “This is only the beginning.”

Dollar Weaponization Undermining the Dollar

All of these experts confirm that the United States’s weaponization of the dollar is undermining its strength and role as a reserve currency.

A recent Atlantic Council report on the falling percentage of dollar reserves pointed out dollar weaponization was a factor behind this trend.

“In recent years, and especially since Russia’s invasion of Ukraine and the Group of Seven (G7)’s subsequent escalation in the use of financial sanctions, some countries have been signaling their intention to diversify away from dollars.”

The U.S. and its allies not only froze Russian assets, but they also locked the country out of the SWIFT financial system.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) system serves as the global economy’s superhighway. In effect, it operates as a global financial messaging service, facilitating cross-border payments. Since the dollar serves as the world reserve currency, SWIFT effectively facilitates an international dollar system.

This gives the U.S. a great deal of leverage, as the Russians discovered.

This wasn’t the first time the U.S. used SWIFT and the dollar as a stick to advance its foreign policy goals. In 2014, the Obama administration locked several Russian financial institutions out of SWIFT as relations between the two countries deteriorated over Ukraine and Crimea.

A few years later, the Trump administration threatened China in an attempt to force that country to join in sanctioning North Korea.

Whether you think the sanctions were justified or not, it’s important to remember that other countries are watching. They realize that dependence on dollars makes them vulnerable too.

U.S. manipulation and this is one of the reasons many countries are trying to diversify away from the USD.

Think about it — if you are concerned that the U.S. could pull the “dollar rug” out from under you, why not pull out from the dollar system first?

This appears to be what is slowly happening. Again, it is death by 1 million paper cuts.

According to a 2023 Invesco survey, a “substantial percentage” of central banks expressed concern about how the U.S. and its allies froze nearly half of Russia’s $650 billion gold and forex reserves.

Central Banks Turning to Gold

We see this shift toward gold in persistent central bank gold buying.

According to the most recent World Gold Council survey released in June, 29 percent of central banks plan to add more gold to their reserves in the next 12 months. The WGC said it was the highest level since the survey began in 2018.

Only 3 percent said they had plans to decrease gold reserves.

Earlier this year, the World Gold Council said the continuation of gold buying supports its expectation that “2024 will be another solid year of central bank gold demand.”

“Last year central banks placed great emphasis on gold’s value in crisis response, diversification attributes, and store-of-value credentials. A few months into 2024 the world seems no less uncertain meaning those reasons for owning gold are as relevant as ever.”

Last year, central bank gold buying fell just 45 tons short of 2022’s multi-decade record.

According to the World Gold Council, central banks net gold purchases totaled 1,037 tons in 2023. It was the second straight year central banks added more than 1,000 tons to their total reserves.

Central bank gold buying in 2023 built on the prior record year. Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971.

The skyrocketing price of gold confirms the wisdom of these central bankers. And it is a tangible sign that the dollar is losing value – and status.

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

* * *

4. OTHER GOLD COMMENTARIES/:live from the vault:

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

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/TUESDAY MORNING/MONDAY NIGHT

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 TUESDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED UP TO 7.0903

OFFSHORE YUAN: UP TO 7.0936

SHANGHAI CLOSED DOWN 13.05 PTS OR .49%

HANG SENG CLOSED UP 237.90 PTS OR 1.37%

2. Nikkei closed DOWN 378.54 POINTS OR 1.03%

3. Europe stocks SO FAR: MOSTLY ALL GREEN

USA dollar INDEX DOWN TO 100.31 EURO RISES TO 1.1139 UP 9 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +0.830 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 140.63…… JAPANESE YEN NOW RISING AS WE HAVE NOW REACHED THE COLLAPSING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now ABOVE 17,000

3d USA/Yen rate now well ABOVE the important 120 barrier this morning

3e Gold DOWN /JAPANESE Yen 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 +2.115 Italian 10 Yr bond yield DOWN to 3.448 SPAIN 10 YR BOND YIELD DOWN TO 2,909

3i Greek 10 year bond yield DOWN TO 3.061

3j Gold at $2574.65 /Silver at: 30.73 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 7 //100 roubles/dollar; ROUBLE AT 91.35

3m oil into the 70 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: 0.9405 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: 3.615 DOWN 2 BASIS PTS…

USA 30 YR BOND YIELD: 3.922 DOWN 2 BASIS PTS/

USA 2 YR BOND YIELD: 3.576 UP 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.03…

10 YR UK BOND YIELD: 3.7765 DOWN 3 PTS

10 YR CANADA BOND YIELD: 2.856DOWN 4 BASIS PTS

5 YR CANADA BOND YIELD: 2.665 DOWN 4 PTS.

2a New York OPENING REPORT

US Futures At All Time High As Yields, Japan Slide Ahead Of Key Retail Sales Print

Tuesday, Sep 17, 2024 – 08:20 AM

US equity futures gain, and trade just shy of all time highs, led by Tech (especially Mag7 and Semis) as global markets trade higher ahead of the FOMC tomorrow as traders continue to increase probability of 50bps cut (~70% chance now) prompted by another Nick Timiraos WSJ article saying the decision between at 25 vs 50bps rate cut is complicated but withholding a larger cut could raise awkward questions. As of 8:00am ET, S&P futures are up 0.4%, rising for a 7th consecutive day, while Nasdaq 100 futs gain 0.5%, with INTC (+6.9%) the standout and MSFT +1.9% on a new $60 billion buyback. European stocks are also broadly higher as Asian markets are mixed and Japan stocks tumbled 2% after reopening from holiday and getting dragged lower by the surging yen.

Bond yields are lower across the curve as the 10Y TSY yields drop to 3.60%, a new 2024 low ahead of tomorrow’s Fed rate decision where odds are now 70% of a 50bps rate cut. The USD remains under pressure, dropping for a fifth consecutive session, falling 0.1% to the lowest since January. Commodities are mixed: crude down, natgas up, precious down, base up, and Ags higher. For the US session, focus is on retail sales this morning, with the market looking to firm up expectations for tomorrow’s FOMC meeting (currently ~-40bps priced). The latest BofA card spending data suggests retail sales will miss estimates (est are for headline retail sales at -0.2%, control group +0.3%) reflecting mixed card spending and a moderation from the 7.7% annualized pace of retail control growth over the prior two months, but a potential boost from back-to-school shopping. Also this morning we have IP, NAHB housing market data and pre-recorded remarks from FOMC non-voter Logan (note, her remarks will not address monetary policy or the economy, reflecting the FOMC’s blackout period).

In premarket trading, Microsoft gains +2% after after it raised its quarterly dividend 10% and announced a new $60 billion stock repurchase program. Intel is up +6.5% after it announced it will make custom AI chips for Amazon AWS. Here are some other notable premarket movers:

AppLovin climbs 2.4% following an upgrade of the software maker to buy at UBS on improving revenue growth visibility.
HP Enterprise rises 3.5% as BofA upgrades to buy from neutral, citing numerous upcoming catalysts for the computer hardware and storage company.
Shopify advances 2.1% following an upgrade to buy at Redburn Atlantic, which sees the company as a prime beneficiary of expected accelerated growth in US social e-commerce.
SolarEdge Technologies shares fall 7.1% as Jefferies cuts to underperform from hold, citing significant headwinds in Europe.
Torrid Holdings shares gain 3.5% after William Blair raised the apparel retailer to outperform from market perform, seeing potential for the stock to “effectively” double over the next six to 12 months.
Viasat shares fall 3.7% as JPMorgan cut the recommendation on the communication company to neutral from overweight, after United Airlines chose to partner with Elon Musk’s Starlink instead of the broadband satellite provider to power its inflight Wi-Fi.

On the eve of the Fed’s first rate cut in more than four years, investor attention will home in on US retail figures due later (our preview is here). The numbers will feed into a debate raging across markets over whether the Fed will ease by 25 basis points, or by double that amount.

“August’s US retail sales report is, arguably, the most important of today’s releases, given that a soft print would likely see participants go ‘all-in’ on the idea of a jumbo 50 basis point Fed cut tomorrow,” wrote Michael Brown, a strategist at Pepperstone Group Ltd., in a note. “Though it’s tough to imagine an equally aggressive paring of dovish bets were the data to beat expectations.”

Former NY Fed President Bill Dudley was among those expecting a 50 basis-point move. “Monetary policy is tight, when it should be neutral or even easy,” he wrote in a Bloomberg column. “And a bigger move now makes it easier for the Fed to align its projections with market expectations, rather than delivering an unpleasant surprise not warranted by the economic outlook.”

But for Jacques Henry, head of cross-asset research at Silex in Geneva, such a large reduction is “a double-edged sword,” as it could suggest the Fed is worried the US economy is slowing faster than expected. The quarter-point cut he expects brings the risk of some short-term disappointment for equity markets. “There could be some drawback on sectors such as real estate and tech,” Henry said.

Meanwhile, optimism around Fed rate cuts has boosted investor sentiment for the first time since June, according to a global survey by Bank of America, Fund managers see a 79% chance of a soft landing as rate cuts support the economy. Still, investors are “nervous bulls,” with risk appetite tumbling to an 11-month low, said BofA strategist Michael Hartnett. The poll also showed a big rotation into bond-sensitive sectors such as utilities from those that typically benefit from a robust economy.

European stocks climb to their highest in two-weeks with all 20 sectors in the green. The Stoxx 600 was up 0.7%, led by retail and banking stocks while healthcare and telecommunications stocks lagged. Gains were also boosted by the latest German ZEW Investor Confidence print which was weaker than expected (expectations 3.6 vs cons 17; current situation -84.5 vs -80 cons, lowest since May 2020/expectations lowest since Oct ‘23) boosting hopes for even more rate cuts by the ECB. Here are the biggest European movers Tuesday:

Hermes advances as much as 1.4% after the luxury fashion house was upgraded to outperform from neutral at BNP Paribas Exane, which said the company will be stronger than peers for longer
Flutter shares rise as much as 1.3% in London trading after the group agreed to acquire Playtech’s Italian gambling operation Snaitech for a total enterprise value of €2.3 billion in cash
Kingfisher gains as much as 8.4%, the most in about four years, after the UK home-improvement retailer lifted the bottom-end of its guidance ranges for annual earnings and cash flow
Barry Callebaut shares rise as much as 7.8% after getting a double upgrade to overweight at Barclays, while Lindt & Spruengli shares also gain after being raised by one notch at the broker
SUSS MicroTec rises as much as 13% as Jefferies starts coverage with a buy rating, describing the process equipment provider as a “hidden gem” within the European semiconductor sector
Pure Biologics surge as much as 30% after the Polish biotechnology company signed a term sheet on a possible partnership with an undisclosed US company to develop two drug projects
Auction Technology Group shares rise as much as 5.1% after the online marketplace platform operator was upgraded by analysts at JPMorgan, who said the shares are now “overly discounting” the risk to earnings in 2025
Dometic falls as much as 14%, the most since March 2020, after the Swedish recreational vehicle and camping equipment maker issued a profit warning, saying that macroeconomic challenges were weighing on sales
THG shares drop as much as 5.2% after the online retailer reported weaker-than-expected first-half results and said it expected earnings for the year at the lower end of consensus estimates
Essentra shares sink 25%, their steepest drop since 2016, after the component maker cut its guidance for full-year adjusted operating profit by about 17% at the midpoint
JTC drops as much as 7.4% on Tuesday after releasing its first-half results, with the financial firm retreating from yesterday’s record high close

Earlier in the session, Asian stocks were mixed as gains in Hong Kong were negated by losses in Japanese stocks as a stronger yen weighed on exporters. The MSCI Asia Pacific Index rose less than 0.1%, recovering from early declines, as Tencent and Alibaba climbed in Hong Kong. The nation’s benchmark index rose nearly the most in three weeks. Meanwhile, Japan’s Topix plunged nearly 2% as the market reopened following a holiday on Monday as stocks caught down to the recent plunge in the USDJPY. Markets in mainland China, Taiwan and South Korea were closed for holidays, while Australian shares climbed for a fourth day, and Indian stocks rose. Benchmarks also traded higher in Southeast Asia, led by the Philippines, Singapore and Malaysia.

All eyes are on policy decisions and commentary this week by the Federal Reserve and Bank of Japan. The yen strengthened through the psychological level of 140 per dollar Monday amid expectations the gap between US and Japanese interest rates will narrow further. “We continue to think the earnings picture of Japan’s exporters and multinationals will likely get murkier, as much of the forex gains that have greatly flattered corporate earnings in the past two years disappear,” Asymmetric Advisors said in a note.

In FX, the Bloomberg Dollar Spot Index drops for a fifth consecutive session, falling 0.1% to the lowest since January ahead of Wednesday’s Federal Reserve policy decision. “The US retail sales numbers out later today will likely be significant,” Michael Wan, a senior currency analyst at MUFG Bank in Singapore, wrote in a research note. They “may perhaps help to settle the ongoing debate about whether the Fed may do a 25 or 50 basis point cut later this week.” The yen erased an earlier loss against the dollar as a slide in Japanese shares boosted demand for the currency as a haven.

In rates, treasuries inch higher, with US 10-year yields falling 1 bp to 3.61%. Treasuries are narrowly mixed in early US trading with the curve flatter as front-end yields rise about 1bp on the day with 7Y-30Y sectors little changed. 2s10s, 5s30s spreads extend Monday’s flattening move and remain near session lows. Bunds outperform Treasuries in the wake of weaker-than-expected September ZEW survey data. Focal points of US include August retail sales data and 20-year bond auction. Treasury coupon auctions resume with $13b 20-year bond reopening at 1pm New York time; WI 20-year yield near 3.995% is ~17bp richer than last month’s, which drew good demand.

In commodities, oil prices are little changed, with WTI trading near $70.10 a barrel. Spot gold falls $7 to around $2,576/oz. Bitcoin rises 2%. We recommend Zero Hedge readers use our partners JM Bullion for all their gold purchasing needs.

Looking to the day ahead now, and data releases include US retail sales, industrial production and capacity utilisation for August, Canada’s CPI for August, and the German ZEW survey for September. From central banks, the FOMC will begin their two-day meeting today.

Market Snapshot

S&P 500 futures up 0.2% to 5,650.50
STOXX Europe 600 up 0.5% to 517.71
MXAP little changed at 183.82
MXAPJ up 0.6% to 574.41
Nikkei down 1.0% to 36,203.22
Topix down 0.6% to 2,555.76
Hang Seng Index up 1.4% to 17,660.02
Shanghai Composite down 0.5% to 2,704.09
Sensex up 0.2% to 83,115.80
Australia S&P/ASX 200 up 0.2% to 8,140.90
Kospi up 0.1% to 2,575.41
German 10Y yield little changed at 2.11%
Euro little changed at $1.1135
Brent Futures down 0.1% to $72.67/bbl
Gold spot down 0.0% to $2,582.31
US Dollar Index down 0.14% to 100.63

Top Overnight News

Fed watcher Nick Timiraos wrote “Fed Prepares to Lower Rates, With Size of First Cut in Doubt: The central bank usually prefers to move in increments of a quarter point. This time, it’s complicated” which noted the decision whether to cut by 25bps or 50bps will come down to how Powell leads his colleagues through a finely balanced set of considerations, while he added that data over the past months showed inflation resumed a steady decline to the 2% goal but the labor market has cooled: WSJ
US officials are traveling to China with a warning to Beijing about the flood of exports being sent by Chinese companies around the world as the country’s domestic growth cools. WSJ
Washington and Tokyo are nearing a deal that would impose fresh restrictions on the ability of non-US chip firms to export products to China. FT
Shigeru Ishiba has taken the lead in the latest Nikkei opinion poll asking who the best person is to lead the LDP (and therefore become the country’s next PM). Nikkei
There’s little chance that the European Central Bank will lower interest rates again next month, according to Governing Council member Gediminas Simkus. BBG
UniCredit is set to ask the ECB within days for regulatory permission to build a stake of as much as 30% in Commerzbank, a person familiar said. BBG
Justin Trudeau suffered a big political setback as his Liberal Party lost a special election in Montreal. It’s the second major defeat at the ballot box for the Canadian PM after his party lost a seat in the Toronto area in June, raising the pressure on him to step aside before the next election. BBG
Blinken is headed back to the Middle East, but a Gaza ceasefire breakthrough isn’t imminent. WSJ
Israel updated its war goals, adding the safe return of its citizens to their homes near the border with Lebanon. RTRS
A panel of federal judges sounded skeptical about TikTok’s legal arguments as the company combats a recent bill that would force the platform to be sold or face a US ban. NYT
BofA September Global Fund Manager Survey: Sentiment improves for first time since June on “Fed cuts = soft landing” optimism; cash level dips to 4.2%; Big rotation to bond sensitives from cyclicals, overweight utilities since 2008; Tactically survey says the bigger the Fed cut, the better for cyclicals.
Microsoft announced a quarterly dividend increase of 10% to USD 0.83/shr and a new USD 60bln share repurchase program.
Intel said it and AWS are expanding their strategic collaboration by co-investing in custom chip designs, including an AI fabric chip and a custom Xeon 6 chip; the partnership supports US semiconductor manufacturing and AWS’s data centre expansion in Ohio. Separately, it said it plans to establish Intel Foundry as an independent subsidiary to provide clearer separation for external customers and suppliers. Will be pausing manufacturing buildout projects in Poland and Germany.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays. ASX 200 marginally edged higher and printed a fresh intraday record high with early advances led by real estate and tech. Nikkei 225 suffered on return from the long weekend and fell beneath 36,000 amid headwinds from the recent currency strength. Hang Seng shrugged off early cautiousness and gradually climbed higher ahead of the Mid-Autum Festival in Hong Kong, while Midea Group’s H shares surged over 8% on its Hong Kong debut following Hong Kong’s largest IPO in three years.

Top Asian News

US and Japan are nearing a deal to curb chip technology exports to China, according to FT.
Japanese Finance Minister Suzuki said FX fluctuations have both merits and demerits on Japan’s economy, while they will respond appropriately after analysing the impact of FX moves. Furthermore, he reiterated that rapid FX moves are undesirable and it is important for currencies to move in a stable manner reflecting fundamentals.
German KfW executive says looking to grow investments in India to USD 1bln from current USD 400mln over the next few years.

European bourses, Stoxx 600 (+0.5%) opened on a firmer footing, and have traded at session highs throughout the European morning, not deviating much from the levels seen at the cash open. European sectors hold a strong positive bias; Retail is the clear outperformer, propped up by post-earnings strength in Kingfisher (+7.2%). Healthcare is found at the foot of the pile, alongside Telecoms. US Equity Futures (ES +0.2%, NQ +0.5%, RTY +0.3%) are modestly firmer across the board, with very slight outperformance in the tech-heavy NQ, attempting to pare back some of the losses seen in the prior session.

Top European News

ECB’s Simkus says the economy is developing in line with forecasts; the likelihood of an October rate cut is very small; will not have many new data points in October.
EU Commission President von der Leyen proposes France’s Sejourne as Commissioner for Industrial Strategy and Ribera for Competition Commissioner; proposes Sefcovic as the Trade Commissioner and Dombrovskis as the Economy Commissioner. Serafin as the Budget Commissioner. Kubilius as Defence Commissioner

USD is a touch softer vs. peers as the dovish Fed repricing continues. Markets now assign a near 70% chance of a 50bps cut by the Fed this week vs. circa. 15% in the wake of last week’s CPI data. Today’s US Retail Sales at 13:30 BST / 08:30 EDT is due.
EUR is steady vs. the USD after another batch of soft data from Germany saw the pair pullback from its session high at 1.1146. If upside in the pair resumes, the 6th September high resides at 1.1155.
GBP is flat vs. the USD with UK-specifics light in the run up to UK CPI tomorrow and the BoE policy announcement on Thursday with the former unlikely to have much impact on the latter. The 1.3218 high for today’s matches that of Monday’s.
JPY is steady vs. the USD after the pair failed to hold below 140 yesterday (printed a trough at 139.57). Focus this week will no doubt be on the FOMC on Wednesday ahead of the BoJ on Friday.
Antipodeans are both broadly steady vs. the USD. AUD/USD has just about eclipsed yesterday’s best of 0.6753 and is at its highest level since 6th September; 0.6767 was the high that day.
CAD is steady vs. the USD in the run up to today’s CPI metrics. Today’s release comes in the context of comments over the weekend from BoC Governor Macklem that the Bank could begin cutting rates in 50bps increments.
Canada’s ruling party has lost a key Quebec seat in the Montreal special election, framed as a blow to PM Trudeau, via CBC.

Fixed Income

USTs are essentially flat; overnight focus was on the latest WSJ Timiraos piece which highlighted that when the Fed has doubts around the size of its first cut it generally favours 25bps; however, “this time, it’s complicated”. This could potentially be the reason USTs caught a slight bid to a 115-21 high, where it currently resides.
Bunds are firmer; a modest bounce was seen across fixed income as European players rejoined the session. Specific developments were slim but the move was potentially a function of participants reacting to an overnight Timiraos piece. A move which took Bunds to a 135.39 peak, stopping 10 ticks shy of last week’s 135.49 best.
Gilts are firmer, in tandem with the broader strength seen across peers; Gilts hit a new contract peak at 101.52, but unable to matierally hold above 101.50 ahead of the 2054 Gilt auction. The tap was strong but not as stellar as the last outing, but Gilts themselves were unreactive to the auction.
UK sell GBP 2.75bln 4.375% 2054 Gilt: b/c 2.89x (prev. 3.35x), average yield 4.329% (prev. 4.636%), tail 0.2bps (prev. 0.2bps)

Commodities

Crude futures began the European morning on a firmer footing, but has since slipped off best levels and currently trades towards the bottom end of today’s ranges; Brent’Nov currently within a 72.35-73.21/bbl range.
Mixed trade overall in the precious metals complex, with spot silver flat and gold dips lower but spot palladium outperforms with gains of some 1% at the time of writing. XAU sits in a narrow USD 2,574.63-2,587.02/oz range.
Mixed trade across base metals futures with traders not committing to a particular direction ahead of the upcoming risk events. APAC trade was also tentative amidst the lack of Chinese participants amid the Mid-Autumn festival break.
PBF’s 166k BPD Torrance California refinery reports flaring due to malfunction

Geopolitics: Middle East

US Secretary of State Blinken will travel to Egypt today for US-Egypt strategic dialogue.
“Houthi leader: ready to send hundreds of thousands of trained fighters to Hezbollah”, via Sky News Arabia.

Geopolitics: Other

North Korea’s Foreign Minister travelled to Russia, according to KCNA.
Two Chinese Coast Guard ships arrived in Russia’s Port of Vladivostok for joint drills, according to RIA.

US Event Calendar

08:30: Aug. Retail Sales Advance MoM, est. -0.2%, prior 1.0%
- Aug. Retail Sales Ex Auto MoM, est. 0.2%, prior 0.4%
- Aug. Retail Sales Ex Auto and Gas, est. 0.3%, prior 0.4%
- Aug. Retail Sales Control Group, est. 0.3%, prior 0.3%
08:30: Sept. New York Fed Services Business, prior 1.8
09:15: Aug. Industrial Production MoM, est. 0.2%, prior -0.6%
- Aug. Manufacturing (SIC) Production, est. 0.2%, prior -0.3%
- Aug. Capacity Utilization, est. 77.9%, prior 77.8%
10:00: July Business Inventories, est. 0.3%, prior 0.3%
10:00: Sept. NAHB Housing Market Index, est. 41, prior 39

DB’s Jim Reid concludes the overnight wrap

If you’ve been following DB’s macro research over the last few days, you’ll be aware of the view that if there was no informed Fed sources massaging the market back down to 25bps by the close of play last night, then the consensus here is that this would imply the Fed is leaning towards 50bps tomorrow night. For most of yesterday the market was pricing in around 40bps of cuts which as Matt Raskin pointed out in a great chart we highlighted yesterday, left this meetings’ pricing the furthest from both a 25 and 50bps move two days out from the meeting since for over 15 years. So a very rare level of uncertainty. As we type this morning, the pricing has ticked up further to 43.5bps, or in other words a 74% chance of a 50bp move. Overnight, we’ve had another WSJ article from Nick Timiraos, although it didn’t steer things in either direction and the headline indicates the ongoing uncertainty, saying “Fed Prepares to Lower Rates, With Size of First Cut in Doubt”.

In recent times, the closest parallel to this uncertainty is the decision in March 2023, amidst the regional bank turmoil. Before SVB’s collapse on March 10 last year, it was widely expected that the Fed would proceed with a rate hike on March 22. But as the turmoil grew worse, there were serious doubts about whether the Fed would still go ahead, and there were similar debates happening about whether a dovish decision might signal that things were worse than markets thought. Ultimately, the Fed did proceed with the hike, but on the Monday before the decision, futures were still only pricing it as a 73% chance, and right before the announcement it had only drifted up to 80%. So there was a little bit of doubt as to what they’d do, although not to the extent that we’re seeing today.

Of course, there are quite a few residual nerves today about going for 50bps. Indeed, on all the recent occasions when the Fed have accelerated up to 50bp cuts, bad things have then happened. That was the case when they opened in 2001 and 2007 with 50bp cuts, whilst the first Covid cut in March 2020 was also an initial 50bp move (followed up by a 100bp cut less than two weeks later). But although the precedents aren’t good, it’s worth bearing in mind that correlation isn’t causation, and it’s hardly like the GFC only happened because the Fed opened with 50bps. So it’ll be fascinating what history has to say about this time.

With growing anticipation for a 50bp cut, that helped pushed US Treasury yields down to fresh lows. For instance, the 2yr yield (-3.1bps) closed at a fresh two-year low yesterday of 3.55%, and the 10yr yield (-3.4bps) closed at a 15-month low of 3.62%. It was a similar story for real yields, and the 10yr real yield (-4.2bps) fell back to 1.53%, which hasn’t been seen since July 2023. Already that’s been filtering through into lower mortgage rates, and last week’s data from the MBA showed that the average 30yr mortgage rate in the US was down to 6.29% in early September, the lowest in over 18 months. However there wasn’t much negative impact from rates going up aggressively as most homeowners have a 30yr fixed (low) rate. So it’s unlikely that lower mortgage rates will have a big impact on housing unless it goes a lot lower and prompts refinancing and more voluntary home moves.

We will get a final batch of data today before tomorrow’s big decision, as US retail sales and industrial production numbers for August are out later. So it’ll be interesting to see how they affect estimates for Q3 growth. Currently, the Atlanta Fed’s GDPNow tracker stands at an annualised rate of +2.5% for this quarter, and we’ll get another update today after that data is out, so one to keep an eye on. We didn’t get much data yesterday, although there was the Empire State manufacturing survey for September, which posted its strongest reading since April 2022, at 11.5 (vs. -4.0 expected).

For equities, the main theme yesterday was the rotation trade, as the Magnificent 7 (-0.70%) fell back again even as the small-cap Russell 2000 (+0.31%) advanced. That continued the theme from Friday, and it means that over the last two sessions, the Russell 2000 is now up +2.81%, whereas the Mag 7 is down -0.39%. That weakness among the Mag 7 was led by Apple (-2.78%) as the first weekend of new iPhone pre-order sales appeared to have come in at the weaker side of expectations. But the broader mood was positive, with the S&P 500 (+0.13%) advancing for a sixth session in a row, closing just -0.60% beneath its all-time high from mid-July. Indeed, three quarters of the index constituents were higher on the day, led by financials (+1.22%) and energy (+1.20%) stocks, which helped the equal-weighted S&P 500 (+0.66%) to reach a new all-time high.

Over in Europe, that rotation theme was also evident. The STOXX 600 (-0.16%) posted a modest decline, mostly as the STOXX Technology Index (-1.25%) saw a decent pullback. Sovereign bonds also echoed the US rally, with yields on 10yr bunds (-2.6bps), OATs (-0.7bps) and BTPs (-3.3bps) all moving lower. Moreover, for BTPs that left them at 3.48%, their lowest closing level so far this year.

Overnight in Asia it’s been a fairly quiet morning, with markets in mainland China and South Korea closed for public holidays. But in Japan, equities have slumped amidst the continued appreciation of the Japanese Yen, with the Nikkei (-1.81%) and the TOPIX (-1.76%) both seeing sharp declines. Indeed, the prospect of a 50bp Fed rate cut saw the Japanese Yen strengthen past 140 per dollar at one point yesterday, which is its strongest since July 2023, although this morning it’s weakened again to 140.71 though. Nevertheless, there has bene some more positivity elsewhere, and in Hong Kong, the Hang Seng is up +1.44% this morning. Looking forward, US equity futures are pointing a bit lower, with those on the S&P 500 down -0.11% as we await the Fed’s decision tomorrow.

To the day ahead now, and data releases include US retail sales, industrial production and capacity utilisation for August, Canada’s CPI for August, and the German ZEW survey for September. From central banks, the FOMC will begin their two-day meeting today.

2B) European report

DXY flat but USTs firmer, Timiraos in focus into US data – Newsquawk US Market Open

Tuesday, Sep 17, 2024 – 05:42 AM

European equities are firmer across the board, with Retail outperforming; US futures gain, the NQ outperforms attempting to pare back the prior day’s losses
Dollar is flat, EUR edged off best levels in reaction to poor ZEW data
Bonds are firmer as markets digest another Timiraos piece, which further highlighted that the Fed has doubts regarding the magnitude of a cut
Crude has given back early morning strength and is now slightly lower, XAU dips whilst base metals are mixed
Looking ahead, US Retail Sales, Canadian CPI, US Industrial Production, Business Inventories, NZ Current Account, Comments from Fed’s Logan & BoC’s Rogers, Supply from the US.

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

EUROPEAN TRADE

EQUITIES

European bourses, Stoxx 600 (+0.5%) opened on a firmer footing, and have traded at session highs throughout the European morning, not deviating much from the levels seen at the cash open.
European sectors hold a strong positive bias; Retail is the clear outperformer, propped up by post-earnings strength in Kingfisher (+7.2%). Healthcare is found at the foot of the pile, alongside Telecoms.
US Equity Futures (ES +0.2%, NQ +0.5%, RTY +0.3%) are modestly firmer across the board, with very slight outperformance in the tech-heavy NQ, attempting to pare back some of the losses seen in the prior session.
Click for the sessions European pre-market equity newsflow
Click for the additional news
Click for a detailed summary

FX

USD is a touch softer vs. peers as the dovish Fed repricing continues. Markets now assign a near 70% chance of a 50bps cut by the Fed this week vs. circa. 15% in the wake of last week’s CPI data. Today’s US Retail Sales at 13:30 BST / 08:30 EDT is due.
EUR is steady vs. the USD after another batch of soft data from Germany saw the pair pullback from its session high at 1.1146. If upside in the pair resumes, the 6th September high resides at 1.1155.
GBP is flat vs. the USD with UK-specifics light in the run up to UK CPI tomorrow and the BoE policy announcement on Thursday with the former unlikely to have much impact on the latter. The 1.3218 high for today’s matches that of Monday’s.
JPY is steady vs. the USD after the pair failed to hold below 140 yesterday (printed a trough at 139.57). Focus this week will no doubt be on the FOMC on Wednesday ahead of the BoJ on Friday.
Antipodeans are both broadly steady vs. the USD. AUD/USD has just about eclipsed yesterday’s best of 0.6753 and is at its highest level since 6th September; 0.6767 was the high that day.
CAD is steady vs. the USD in the run up to today’s CPI metrics. Today’s release comes in the context of comments over the weekend from BoC Governor Macklem that the Bank could begin cutting rates in 50bps increments.
Canada’s ruling party has lost a key Quebec seat in the Montreal special election, framed as a blow to PM Trudeau, via CBC.
Click for a detailed summary
Click for NY OpEx Details

FIXED INCOME

USTs are essentially flat; overnight focus was on the latest WSJ Timiraos piece which highlighted that when the Fed has doubts around the size of its first cut it generally favours 25bps; however, “this time, it’s complicated”. This could potentially be the reason USTs caught a slight bid to a 115-21 high, where it currently resides.
Bunds are firmer; a modest bounce was seen across fixed income as European players rejoined the session. Specific developments were slim but the move was potentially a function of participants reacting to an overnight Timiraos piece. A move which took Bunds to a 135.39 peak, stopping 10 ticks shy of last week’s 135.49 best.
Gilts are firmer, in tandem with the broader strength seen across peers; Gilts hit a new contract peak at 101.52, but unable to matierally hold above 101.50 ahead of the 2054 Gilt auction. The tap was strong but not as stellar as the last outing, but Gilts themselves were unreactive to the auction.
UK sell GBP 2.75bln 4.375% 2054 Gilt: b/c 2.89x (prev. 3.35x), average yield 4.329% (prev. 4.636%), tail 0.2bps (prev. 0.2bps)
Click for a detailed summary

COMMODITIES

Crude futures began the European morning on a firmer footing, but has since slipped off best levels and currently trades towards the bottom end of today’s ranges; Brent‘Nov currently within a 72.35-73.21/bbl range.
Mixed trade overall in the precious metals complex, with spot silver flat and gold dips lower but spot palladium outperforms with gains of some 1% at the time of writing. XAU sits in a narrow USD 2,574.63-2,587.02/oz range.
Mixed trade across base metals futures with traders not committing to a particular direction ahead of the upcoming risk events. APAC trade was also tentative amidst the lack of Chinese participants amid the Mid-Autumn festival break.
PBF’s 166k BPD Torrance California refinery reports flaring due to malfunction
Click for a detailed summary

NOTABLE DATA RECAP

EU ZEW Survey Expectations (Sep) 9.3 (Prev. 17.9)
German ZEW Economic Sentiment (Sep) 3.6 vs. Exp. 17.0 (Prev. 19.2); ZEW Current Conditions (Sep) -84.5 vs. Exp. -80.0 (Prev. -77.3)
Indian WPI Inflation YY (Aug) 1.31% vs. Exp. 1.85% (Prev. 2.04%)

NOTABLE EUROPEAN HEADLINES

ECB’s Simkus says the economy is developing in line with forecasts; the likelihood of an October rate cut is very small; will not have many new data points in October.
EU Commission President von der Leyen proposes France’s Sejourne as Commissioner for Industrial Strategy and Ribera for Competition Commissioner; proposes Sefcovic as the Trade Commissioner and Dombrovskis as the Economy Commissioner. Serafin as the Budget Commissioner. Kubilius as Defence Commissioner

NOTABLE US HEADLINES

WSJ’s Timiraos wrote “Fed Prepares to Lower Rates, With Size of First Cut in Doubt: The central bank usually prefers to move in increments of a quarter point. This time, it’s complicated” which noted the decision whether to cut by 25bps or 50bps will come down to how Powell leads his colleagues through a finely balanced set of considerations, while he added that data over the past months showed inflation resumed a steady decline to the 2% goal but the labour market has cooled.
BofA September Global Fund Manager Survey: Sentiment improves for first time since June on “Fed cuts = soft landing” optimism; cash level dips to 4.2%; Big rotation to bond sensitives from cyclicals, overweight utilities since 2008; Tactically survey says the bigger the Fed cut, the better for cyclicals.
Microsoft (MSFT) announced a quarterly dividend increase of 10% to USD 0.83/shr and a new USD 60bln share repurchase program.
Intel (INTC) said it and AWS (AMZN) are expanding their strategic collaboration by co-investing in custom chip designs, including an AI fabric chip and a custom Xeon 6 chip; the partnership supports US semiconductor manufacturing and AWS’s data centre expansion in Ohio. Separately, it said it plans to establish Intel Foundry as an independent subsidiary to provide clearer separation for external customers and suppliers. Will be pausing manufacturing buildout projects in Poland and Germany.

GEOPOLITICS

MIDDLE EAST

US Secretary of State Blinken will travel to Egypt today for US-Egypt strategic dialogue.
“Houthi leader: ready to send hundreds of thousands of trained fighters to Hezbollah”, via Sky News Arabia.

OTHER

North Korea’s Foreign Minister travelled to Russia, according to KCNA.
Two Chinese Coast Guard ships arrived in Russia’s Port of Vladivostok for joint drills, according to RIA.

CRYPTO

Bitcoin gains but yet to firmly climb above USD 59k, with Ethreum holding above USD 2.3k.

APAC TRADE

APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays.
ASX 200 marginally edged higher and printed a fresh intraday record high with early advances led by real estate and tech.
Nikkei 225 suffered on return from the long weekend and fell beneath 36,000 amid headwinds from the recent currency strength.
Hang Seng shrugged off early cautiousness and gradually climbed higher ahead of the Mid-Autum Festival in Hong Kong, while Midea Group’s H shares surged over 8% on its Hong Kong debut following Hong Kong’s largest IPO in three years.

NOTABLE ASIA-PAC HEADLINES

US and Japan are nearing a deal to curb chip technology exports to China, according to FT.
Japanese Finance Minister Suzuki said FX fluctuations have both merits and demerits on Japan’s economy, while they will respond appropriately after analysing the impact of FX moves. Furthermore, he reiterated that rapid FX moves are undesirable and it is important for currencies to move in a stable manner reflecting fundamentals.
German KfW executive says looking to grow investments in India to USD 1bln from current USD 400mln over the next few years.

DATA RECAP

Singapore Non-Oil Exports MM (Aug) -4.7% vs. Exp. -3.3% (Prev. 12.2%); (Aug) 10.7% vs. Exp. 15.0% (Prev. 15.7%)

2C ASIAN REPORT.

Mostly positive trade, as participants continue to second-guess the Fed – Newsquawk Europe Market Open

Tuesday, Sep 17, 2024 – 01:55 AM

APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays.
Money markets now price in a 67% probability of a 50bps Fed rate cut on Wednesday vs the 48% probability seen on Friday, via Reuters.
US and Japan are nearing a deal to curb chip technology exports to China, according to FT.
European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 0.3% on Monday.
Looking ahead, highlights include German ZEW Sentiment, US Retail Sales, Canadian CPI, US Industrial Production, Business Inventories, NZ Current Account, Comments from ECB’s Elderson, Fed’s Logan & BoC’s Rogers, Supply from the UK & US.

SNAPSHOT

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

Click for the Newsquawk Week Ahead.

US TRADE

EQUITIES

US stocks were mixed with most indices and sectors in the green, while the Nasdaq closed in the red due to Tech weakness which was led by downside in Apple (AAPL) on lower-than-expected pre-order sale analysis. Furthermore, treasuries ultimately bull flattened after a stronger NY Fed Manufacturing Survey reversed the earlier steepening induced by former NY Fed President Dudley who reiterated calls for a 50bps cut and thinks that the Fed will conduct such a move at the upcoming rate decision this week, while money markets now price in a 67% probability of a 50bps rate cut on Wednesday vs the 48% probability seen on Friday.
SPX +0.13% at 5,633, NDX -0.47% at 19,423, DJIA +0.55% at 41,622, RUT +0.31% at 2,189
Click here for a detailed summary.

NOTABLE HEADLINES

WSJ’s Timiraos wrote “Fed Prepares to Lower Rates, With Size of First Cut in Doubt: The central bank usually prefers to move in increments of a quarter point. This time, it’s complicated” which noted the decision whether to cut by 25bps or 50bps will come down to how Powell leads his colleagues through a finely balanced set of considerations, while he added that data over the past months showed inflation resumed a steady decline to the 2% goal but the labour market has cooled.
Teamsters President said the union could make a decision on the Presidential endorsement as early as Wednesday.

NOTABLE US EQUITY UPDATES

Microsoft (MSFT) announced a quarterly dividend increase of 10% to USD 0.83/shr and a new USD 60bln share repurchase program.
Vista Equity and Blackstone (BX) are reportedly nearing a deal to buy Smartsheet (SMAR) for around USD 56/shr, or nearly USD 8bln.

APAC TRADE

EQUITIES

APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays.
ASX 200 marginally edged higher and printed a fresh intraday record high with early advances led by real estate and tech.
Nikkei 225 suffered on return from the long weekend and fell beneath 36,000 amid headwinds from the recent currency strength.
Hang Seng shrugged off early cautiousness and gradually climbed higher ahead of the Mid-Autum Festival in Hong Kong, while Midea Group’s H shares surged over 8% on its Hong Kong debut following Hong Kong’s largest IPO in three years.
US equity futures lacked firm direction as participants await the upcoming central bank policy announcements.
European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 0.3% on Monday.

FX

DXY lacked direction after yesterday’s selling pressure as money markets priced in greater chances of a more aggressive 50bps Fed rate cut this week.
EUR/USD held on to the majority of recent gains north of the 1.1100 level, while there were recent comments from ECB officials including Kazaks who said interest rates will continue to be lowered and there is no big reason to disagree with the rate bets for 2025.
GBP/USD paused overnight and sat just above the 1.3200 level with light catalysts for the UK ahead of tomorrow’s CPI data and Thursday’s BoE.
USD/JPY was choppy as the pair initially clawed back some of its recent losses but then drifted lower alongside the risk-off mood in Japan, before rebounding again.
Antipodeans traded steadily amid a quiet calendar but held on to most of the spoils from the prior day’s outperformance in cyclical currencies.

FIXED INCOME

10yr UST futures were little changed following the prior day’s bull flattening as bets for a 50bps Fed rate cut ramped up and NY Fed Manufacturing topped forecasts.
Bund futures took a breather after Monday’s whipsawing and reclaim of the 135.00 status, while the attention turns to ZEW data.
10yr JGB futures mildly strengthened on return from the holiday closure amid underperformance in Japanese stocks.

COMMODITIES

Crude futures remained underpinned after climbing yesterday on the back of a softer dollar but with gains capped by a lack of energy-specific catalysts.
BSEE reported that 12% of oil production and 16% of natural gas production in the US Gulf of Mexico is shut in the aftermath of Francine.
Spot gold traded sideways near record levels with participants unwilling to commit heading closer to the FOMC rate decision.
Copper futures were rangebound amid the somewhat mixed mood in Asia and the continued absence of the largest buyer.

CRYPTO

Bitcoin was slightly pressured and briefly dipped beneath the USD 58,000 level before reversing most of the earlier declines.

NOTABLE ASIA-PAC HEADLINES

US and Japan are nearing a deal to curb chip technology exports to China, according to FT.
Japanese Finance Minister Suzuki said FX fluctuations have both merits and demerits on Japan’s economy, while they will respond appropriately after analysing the impact of FX moves. Furthermore, he reiterated that rapid FX moves are undesirable and it is important for currencies to move in a stable manner reflecting fundamentals.

DATA RECAP

Singapore Non-Oil Exports MM (Aug) -4.7% vs. Exp. -3.3% (Prev. 12.2%)
Singapore Non-Oil Exports YY (Aug) 10.7% vs. Exp. 15.0% (Prev. 15.7%)

GEOPOLITICS

MIDDLE EAST

US Secretary of State Blinken will travel to Egypt today for US-Egypt strategic dialogue.
Iran’s nuclear chief said his discussions with the IAEA Director General were good and marked a step forward, while he added that Iran’s relations with the agency remain stable and will not be undermined by psychological pressure.

OTHER

North Korea’s Foreign Minister travelled to Russia, according to KCNA.
Two Chinese Coast Guard ships arrived in Russia’s Port of Vladivostok for joint drills, according to RIA.

EU/UK

NOTABLE HEADLINES

ECB’s Kazaks said rates will continue to be lowered and there is no big reason to disagree with the rate bets for 2025.
French President Macron is in talks with the European Commission to carve out a new, more powerful position for France in a plan that plan would make France’s outgoing Foreign Minister Stephane Sejourne an executive vice president in the commission, according to Bloomberg.

2 JAPAN

JAPAN USA/CHINA

US & Japan Nearing ‘Breakthrough’ Deal To Restrict Chip Tech Exports To China

by Tyler Durden

Tuesday, Sep 17, 2024 – 07:45 AM

A new report from the Financial Times details how US and Japanese officials are nearing a deal to curb tech exports to China’s chip industry. This comes two weeks after Beijing threatened severe economic retaliation against Tokyo if it proceeded with new chip export curbs.

FT spoke with insiders who said US and Japanese officials are nearing a ‘breakthrough’ in talks to coordinate new export controls against China’s chip industry. The curbs would target non-US companies, forcing them to obtain licenses to sell products directly to Chinese companies that directly or indirectly connect to the nation’s chip industry.

The new trade restrictions would close loopholes in existing rules and add additional restrictions at a time when Huawei and other Chinese firms have managed to circumnavigate Western chip trade restrictions in recent years.

One of Washington’s primary objectives is to make it much more challenging for Chinese firms to acquire critical chipmaking tools, such as those from ASML in the Netherlands and Tokyo Electron in Japan.

Here’s more from FT:

The US also wants them to restrict servicing, including software updates, and maintenance of the tools, in a move that would significantly hurt China. The controls would have a similar impact to those already on US companies and citizens.

Negotiations have centered on aligning the three countries’ export control rules so Japanese and Dutch companies will not be subject to the FDPR, which one person in the Netherlands described as a “diplomatic bomb.”

One of the top concerns, while the Biden administration shines the beacon of democracy that continues to bully its allies, is the real possibility that Beijing unleashes severe economic retaliation against Tokyo.

In a recent but separate Bloomberg report, Toyota Motor told Tokyo officials that new chip export curbs could be devastating because they would halt access to critical minerals from the world’s second-largest economy.

The question becomes whether Tokyo should fall in line with the Biden administration’s crusade against China’s tech industry.

“Japan shouldn’t tighten its export control just because the US is making such a request,” Akira Minamikawa, an analyst with the research firm Omdia, recently said, adding, “Japan should have its own philosophy, decide what’s best for the country and stand firm.”

Meanwhile…

FT noted that Biden plans to unveil the new export controls before November’s presidential election.

China’s high-tech advancements, such as domestic 5G smartphones and AI chips, are further evidence that Western sanctions have yet to slow Beijing’s accession to become a global superpower.

3 CHINA

CHINA/USA

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

END

ISRAEL/HAMAS

Several Gazans killed in strikes as IDF appears to zero in again on northern Strip

Army says it bombed school-turned-shelter being used as Hamas command center for second time in days; report suggests fighters regrouping faster than Israel can stamp them out

By ToI Staff and Agencies16 September 2024, 4:52 pm

Palestinians check the rubble of a house following Israeli bombardment in Nuseirat in the central Gaza Strip, on September 16, 2024. (Eyad BABA / AFP)

Airstrikes across Gaza killed 18 Palestinians, officials in the Hamas-run enclave said Monday, as Israel’s military said it bombed a command center in a school, accusing the group of hiding behind civilians sheltering from the war.

With hopes fading for a ceasefire deal that would free Israeli hostages held in Gaza and pause the war after over 11 months, a senior Hamas official boasted that the organization was far from depleted and an Israeli report suggested the army was struggling to keep fighters in the Strip from regrouping.

A medic at Al-Awda hospital in central Gaza said 10 people were killed and 15 were injured when an airstrike hit a home in the Nuseirat refugee camp in central Gaza, citing bodies brought to the hospital. Hospital records show that the dead included a mother, her child and her five siblings.

The Hamas-controlled civil defense agency said another six Palestinians were killed in an airstrike during the night on a house in Gaza City’s Zeitoun neighborhood, an area that has seen several rounds of fighting.

Two more people were killed in an overnight airstrike on a house in Rafah, the agency said, and Hamas authorities later raised the death toll since fighting began to 41,226, an increase of 20 dead over the previous day.

Get The Times of Israel’s Daily Editionby email and never miss our top storiesNewsletter email addressGet it

By signing up, you agree to the terms

The figures could not be confirmed, and Gazan health authorities do not differentiate between civilians and combatants.

The Israel Defense Forces did not comment on the reports, but says it only targets terror operatives and accuses Hamas and other armed groups of endangering civilians by operating in residential areas.

IDF troops with the 162nd Division are seen operating in the Tel Sultan neighborhood of Rafah in the southern Gaza Strip in this handout photo published on September 14, 2024. (Israel Defense Forces)

On Sunday, the IDF said it carried out an airstrike against a group of Hamas operatives at a command room embedded within a former school in the northern Gaza Strip.

The Ghazi Al-Shawa School in Beit Hanoun serves as a shelter for displaced Gazans, according to Palestinian media.

But the Israeli army said Hamas had commandeered part of the school to use as a hideout. It accused the terror group of using the school to prepare rocket attacks in recent weeks.

The army said it took steps to mitigate civilian harm in the strike, accusing Hamas of “systematically” using civilian sites for terror.

Displaced Palestinians inspect their tents, which were hit by an Israeli airstrike, in Al-Mawasi, Khan Younis, in the southern Gaza Strip, on September 14, 2024. (Abed Rahim Khatib/Flash90)

On Saturday, the IDF said it targeted a group of Hamas operatives using a school-turned-shelter in Gaza City as a command center, the IDF said. Gazan authorities said the strike killed five people, including a woman and two children.

It also ordered civilians to evacuate the northern Gaza city of Beit Lahiya Saturday, after rockets were launched from the area at Ashkelon earlier in the day, in a further sign of intensifying fighting in northern Gaza.

On Monday the army said it was deploying its 5th Brigade to the Netzarim Corridor area in the central Gaza Strip, several months after moving the unit out of the Strip.

The reserve infantry brigade is slated to help expand the Israel-controlled belt used to regulate access between the northern and southern parts of the Strip, among other operations, the army said.

Troops of the 5th Reserve Infantry Brigade operate in the Netzarim Corridor in central Gaza, in a handout image published September 16, 2024 (Israel Defense Forces)

Despite attempts to keep Hamas fighters in southern Gaza from returning north, a report by Israel’s Kan public broadcaster on Sunday claimed that Hamas was recovering in northern Gaza faster than the IDF was able to dismantle the terror group’s military capabilities.

Israel declared the northern part of the Strip largely cleared of organized Hamas units after months of heavy fighting in the initial stage of the war, but has repeatedly needed to return to the area since as Hamas-led fighters have regrouped.

The report, which was not attributed to a source, suggested that Hamas fighters in northern Gaza had used a prolonged troop absence to reorganize and prepare for a new stage of fighting.

Osama Hamdan, a senior Hamas official based in Istanbul, claimed Sunday that the terror group had ample resources to continue fighting Israel despite losses sustained over more than 11 months of war in Gaza.

Hamas political official Osama Hamdan speaks during an interview with The Associated Press in Doha, Qatar, August 13, 2024. (AP/Malak Harb)

“The resistance has a high ability to continue,” Hamdan told AFP. “There were martyrs and there were sacrifices… but in return, there was an accumulation of experiences and the recruitment of new generations into the resistance.”

Israel says it has killed 17,000 combatants in battle as of August and another 1,000 terrorists inside Israel since the war broke out with Hamas’s October 7, 2023, attack on southern Israel.

Some 1,200 people in Israel were killed in the unprecedented assault, and another 251 were taken hostage.

It is believed that 97 hostages abducted by Hamas on October 7 remain in Gaza, including the bodies of at least 33 confirmed dead by the IDF. Hamas is also holding two Israeli civilians who entered the Strip in 2014 and 2015, as well as the bodies of two IDF soldiers who were killed in 2014.

Protesters demonstrating in favor of a hostage deal near The Kirya Defense Ministry headquarters in Tel Aviv, September 14, 2024 (Pro-Democracy Protest Movement/Marcelo Sznaidman)

Hamdan also accused the United States of not doing enough to force concessions from Israel that could lead to a truce in the war in Gaza.

“The American administration does not exert sufficient or appropriate pressure on the Israeli side,” says Hamdan. “Rather it is trying to justify the Israeli side’s evasion of any commitment.”

Speaking at the annual Haaretz Security Conference Monday, US Ambassador to Israel Jack Lew said Israel had signaled a willingness to be flexible, while Hamas’s positions were less clear.

“We don’t know what Hamas is willing to accept,” he said.

He added that the US and fellow mediators Egypt and Qatar — along with Israel — were trying “to bring together as close as we can one position in the end so we can force a decision by Hamas.”

END

ISRAEL.HEZBOLLAH.

Netanyahu Set To Fire Defense Chief As Israel Mulls War In Lebanon: Reports

Monday, Sep 16, 2024 – 04:40 PM

There is currently widespread speculation in Israeli media that Prime Minister Benjamin Netanyahu will soon terminate Defense Minister Yoav Gallant, which would constitute a monumental reshuffle of his cabinet. The two have reportedly been clashing over war strategy, especially on what to do about the crisis in northern Israel, an area which has come under daily rocket and drone attack from Lebanese Hezbollah.

“The drafts of the agreement have already been drawn up … Netanyahu is preparing for Gallant’s dismissal in the near future … Galant will be fired by Netanyahu,” Israeli news outlet Ynet reported Monday.

Gallant is reportedly wanting to avoid immediate escalation of the war with Hezbollah in the north, reportedly clashing with the army’s Northern Command chief Ori Gordin, who is calling for the government to approve a large-scale operation in Lebanon to destroy Hezbollah.

Gallant has also been at the center of a firestorm of controversy regarding achieving a peace deal and hostage exchange swap with Hamas. The defense chief is in favor of quickly securing a deal, which Netanyahu has resisted, preferring instead a military solution.

This political divide at top has also been reflected in the unrest in the streets, where protests of hundreds of thousands have raged in Tel Aviv for days and weeks. They are led by families of the hostage victims, who blame Netanyahu for stalling a truce deal.

YNet’s sources have said: “Gallant has already received the message that there is an intention to oust him and replace him with Gideon Saar… The Prime Minister is close to making this decision. It has not yet been made, but it is close.”

But at the moment, the Hezbollah question and Israel’s strategy concerning what comes next is the key divisive issue. Times of Israel explains:

Maj. Gen. Ori Gordin, the head of the Israel Defense Force’s Northern Command, is pressuring decision-makers to launch a large-scale incursion into Lebanon, while Gallant and IDF Chief of Staff Herzi Halevi have expressed doubts over launching a war against Hezbollah, thought to be a more formidable enemy than the Hamas terror group Israel is currently fighting in Gaza, Kan and Channel 13 news reported Sunday and Monday.

According to the reports, Gallant believes now is not the right time for such action, and wants to give a chance to efforts to achieve a diplomatic solution in the north and a ceasefire-hostage deal in Gaza.

If Netanyahu does sack Gallant, this could strain relations with Washington further. Internal Israeli cabinet tensions have also centered on navigating the relationship with the United States, and not jeopardizing arms transfers.

.xcom/Nimrod_Flash/status/1835680374648610995

The Biden administration appears to be favoring ‘moderates’ within the coalition government and the Biden/Harris White House would like to see some kind of ceasefire deal ahead of the November election, which would likely translate to a boost at the polls. But this appears very unlikely based on the way things are going in Gaza.

END

ISRAEL/HEZBOLLAH/LEBANON

Hundreds Wounded, Dead In Beirut After Israel Remotely Detonates Hezbollah Pagers

Tuesday, Sep 17, 2024 – 10:05 AM

An apparent covert Mossad operation has unleashed chaos in a southern Beirut neighborhood on Tuesday, resulting in large-scale casualties among Hezbollah operatives and reportedly Lebanese civilians.

Telecommunications devices used by Hezbollah members began exploding, resulting in up to hundreds wounded in the suburb of Dahiyeh. There appears to be fatalities, according to graphic social media images.

Reuters reports, “Hundreds of members of the Lebanese armed group Hezbollah, including fighters and medics, were seriously wounded on Tuesday when the pagers they use to communicate exploded,” according to security sources.

“A Reuters journalist saw 10 Hezbollah members bleeding from wounds in the southern suburb of Beirut known as Dahiyeh,” the report continues.

It is as yet unclear how precisely Israeli intelligence was able to infiltrate Hezbollah’s telecoms – whether small bombs were placed in the pagers or possibly the result of some kind of large-scale cyberhack. But what is becoming clear is that they were remotely detonated.

A Hezbollah official was cited anonymously in Reuters, calling the incident the “biggest security breach” the group has ever faced since the start of the nearly-year long conflict with Israel. Groups like Hezbollah often use low-tech devices to communicate with each other, given cell phones are easier for intelligence services to intercept.

“Residents said explosions were taking place even 30 minutes after the initial blasts,” the report notes further, citing eyewitnesses. People are also urgently calling for blood donations, given this appears a mass casualty event.

Good morning cyber folks. A borderline literally incredible story from Lebanon, where Reuters is reporting that a simultaneous mass attack on Hezbollah members was…Israel hacking their pagers. Possibly Teletrim, per @michaelh992 https://t.co/FVBNqrNTdC https://t.co/IhLlbMBFID— Kevin Collier (@kevincollier) September 17, 2024

Local hospitals are said to be inundated with victims as well as groups of family members rushing to entrances trying to find out what’s going on.

Israel has yet to comment on the apparent covert operation.

🚨 Security camera footage shows a pager being detonated in a market.

A Hezbollah official, speaking anonymously to Reuters, stated, “This is the most significant intelligence breach.” https://t.co/6KVC80wvBi pic.twitter.com/pegD3LLbvT— BigBreakingWire (@BigBreakingWire) September 17, 2024

A prominent Lebanese and regional war monitor account had this to say…

I severely doubt it’s some technological strike, most likely explosive planted inside the pager.

Whatever it is, the consequences will be dire.

(Stop taking pictures of the wounded, you fucking imbeciles) pic.twitter.com/RIScKZrGTK— War Monitor (@WarMonitors) September 17, 2024

Most videos are too graphic, but the below shows some of the chaos in the aftermath of the initial explosions.

Footage from Dahiyeh, #Lebanon 🇱🇧, where a @Reuters journalist reports seeing 10 Hezbollah members bleeding from wounds due to their pagers exploding pic.twitter.com/XmyJBLZYvZ— Aleph א (@no_itsmyturn) September 17, 2024

developing…

end

Did Israel retaliate against Hezbollah for attempted assassination of ex-defense chief? – analysis

Hezbollah members were wounded in Beirut after their communication pagers exploded on Tuesday.

By YONAH JEREMY BOB, REUTERSSEPTEMBER 17, 2024 16:30Updated: SEPTEMBER 17, 2024 17:12

Hundreds of members of Hezbollah were seriously wounded in explosion in Beirut. September 17 2024. (photo credit: SCREENSHOT/X, SECTION 27A COPYRIGHT ACT) — Hundreds of members of Hezbollah were seriously wounded in explosion in Beirut. September 17 2024.(photo credit: SCREENSHOT/X, SECTION 27A COPYRIGHT ACT)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-820540&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

Dozens of members of Hezbollah were seriously wounded on Tuesday in Lebanon’s south and the southern suburbs of Beirut when the pagers they use to communicate exploded, security sources told Reuters.

A Reuters journalist saw hundreds of Hezbollah members bleeding from wounds in the southern suburb of Beirut known as Dahiyeh.

According to reports, the phones were called before the explosion for some period of seconds to increase the chance that whoever received the call would pick it up and be maximally wounded. Shortly before the explosions, there were reports of a special meeting between Mossad Director David Barnea and Netanyahu.

The news comes only hours after the Shin Bet revealed that Hezbollah recently attempted to assassinate a top former Israeli defense official in Tel Aviv.

The situation is far from clear and developing, but given the juxtaposition in the timing and the last few hysterical hours in Israel about a security situation with Lebanon, did Israel just carry out only its second attack on Hezbollah in Beirut of the nearly year-long war in retaliation for the Lebanese terror group’s failed assassination attempt?

The last time Israel attacked Beirut was on July 30, when it assassinated Hezbollah military chief Fuad Shukr in retaliation for the terrorists’ killing of around a dozen Israeli-Druze in Majdal Shams via rocket attacks in the North.

People gather near a site hit by what security sources said was a strike on Beirut's southern suburbs, Lebanon July 30, 2024. (credit: REUTERS/Ahmed Al-Kerdi) — People gather near a site hit by what security sources said was a strike on Beirut’s southern suburbs, Lebanon July 30, 2024. (credit: REUTERS/Ahmed Al-Kerdi)

This almost led to a full-scale war between the sides on August 25. Still, the IDF managed a preemptive strike that substantially reduced Hezbollah’s ability to fire more than a fraction of the rockets that it had wanted to use to attack Israel, including northern Tel Aviv.

Nasrallah’s pledge

Hezbollah chief Hassan Nasrallah has pledged that any attack on Beirut will be met with a massive counter-strike.

Will he keep his promise, or will Hezbollah back down, given that this round started from its attempted assassination and given the IDF’s success against Hezbollah on August 25?

END

Hundreds of Hezbollah members wounded in Lebanon in mass pager hack

Reports from Arab and Israeli media have said that over 1,200 people have been wounded.

By JERUSALEM POST STAFF, YONAH JEREMY BOBSEPTEMBER 17, 2024 16:05Updated: SEPTEMBER 17, 2024 17:27

(Illustrative) A pager device and a crowd in Lebanon near a site where Hezbollah members' pager devices were hacked. (photo credit: REUTERS, SCREENSHOT/X, SECTION 27A COPYRIGHT ACT, SHUTTERSTOCK) — (Illustrative) A pager device and a crowd in Lebanon near a site where Hezbollah members’ pager devices were hacked.(photo credit: REUTERS, SCREENSHOT/X, SECTION 27A COPYRIGHT ACT, SHUTTERSTOCK)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-820536&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

Hundreds of members of the Lebanese terrorist group Hezbollah were seriously wounded on Tuesday in Lebanon’s south and the southern suburbs of Beirut when the pagers they use to communicate exploded, security sources told Reuters.

A Reuters journalist saw 10 Hezbollah members bleeding from wounds in the southern suburb of Beirut known as Dahiyeh.

Iranian ambassador Mojtaba Amani was reportedly injured in a Hezbollah explosion, according to state-owned Mehr News.

A senior Lebanese security source told Al-Hadath that Israel infiltrated the communication system of individual devices and detonated them.

A Hezbollah official cited by the Wall Street Journal (WSJ) said that hundreds of members had such devices, and speculated that malware could have caused the device to heat up and explode. The same official cited by WSJ reported that some people felt the pagers heat up, disposing of the pagers before they exploded.

An ambulance vehicle drives as hundreds of members of Hezbollah were seriously wounded, in Sidon, Lebanon September 17, 2024 (credit: REUTERS/AZIZ TAHER)

Additionally, the same report by WSJ quoted Hezbollah officials stating that the numbers of casualties were rising too quickly to count.

A Hezbollah official, speaking on condition of anonymity, said the detonation of the pagers was the “biggest security breach” the group had been subjected to in nearly a year of war with Israel.

According to reports, the phones were called before the explosion for some period of seconds to increase the chance that whoever received the call would pick it up and be maximally wounded.

The pagers detonated were the latest model brought in by Hezbollah in recent months, three security sources told Reuters.

BREAKING: ISRAEL REMOTELY DETONATE HANDHELD PAGERS OF HEZBOLLAH MEMBERS

The Israeli army allegedly used advanced technology to detonate handheld pagers belonging to Hezbollah members in multiple locations within Beirut. pic.twitter.com/XHnhdJNKwW
— Sulaiman Ahmed (@ShaykhSulaiman) September 17, 2024

A Reuters journalist saw ambulances rushing through the southern suburbs of the capital, Beirut, amid widespread panic. Residents said explosions were taking place even 30 minutes after the initial blasts.

Lebanon’s Health Ministry urged health workers to head to hospitals, according to the Arab media channel NBN.

An Al-Jazeera security source confirmed that communication devices carried by Hezbollah operatives exploded in several areas across Lebanon, not only in Beirut but also in Beqaa and southern Lebanon. Another Lebanese security source claimed that Israel hacked into Hezbollah’s radio communication system and caused the explosions.

مراسل #الحدث : عشرات الإصابات في ضاحية بيروت والجنوب جراء عملية الاختراق الإسرائيلية pic.twitter.com/Ynu26A7vSA
— الحدث اللبناني (@Alhadath_Leb) September 17, 2024

According to Al-Hadath, the IDF remotely detonated the communication devices using advanced technology. However, Israel has not taken responsibility for the explosions.

Reuters contributed to this report. This is a developing story.

END

Hezbollah’s worst nightmare: Chaos in its ranks – opinion

Hezbollah, a highly trained and disciplined terrorist group, is now facing chaos and vulnerability after a large number of its members were injured by exploding communication devices.

By SETH J. FRANTZMANSEPTEMBER 17, 2024 18:09Updated: SEPTEMBER 17, 2024 18:58

An ambulance vehicle drives as hundreds of members of Hezbollah were seriously wounded, in Sidon, Lebanon September 17, 2024 (photo credit: REUTERS/AZIZ TAHER) — An ambulance vehicle drives as hundreds of members of Hezbollah were seriously wounded, in Sidon, Lebanon September 17, 2024(photo credit: REUTERS/AZIZ TAHER)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-820559&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

Hezbollah is known as a disciplined group. Highly trained, the group invests heavily in its recruits. It is not known to waste them as cannon fodder. It views itself as an elite organization, and within its own structure, there are centers of terrorist excellence, such as the Radwan force.

Hezbollah has achieved this through decades of fine-tuning its capabilities. It has built itself up slowly, first in the 1980s and then in the last two decades as it came to dominate Lebanon. Now, the group faces its worst nightmare: Chaos.

Hezbollah is facing chaos because a large number of its alleged members were wounded on September 17 by exploding communications devices. The full details of this incident are not yet known, and they will only be known over time. However, video and images from Lebanon show men, many of them in their forties, wounded in the hands and faces by exploding communications devices.

The devices are alleged to be pagers. The video shows at least one man pulling his pager from his pocket, only to have it explode in his hand. Gruesome videos, apparently from hospitals in Lebanon, show a large number of men missing parts of their hands or wounded in the legs, stomach, or face.

Suffering so many casualties to key members of the terrorist group may not be crippling, but it clearly will harm a swatch of the group’s key members. This will put the men in hospital for a period of time. Some of them can go back to serving Hezbollah, but they will not have access to one of their hands.

Hezbollah members in Lebanon take part in a funeral procession for their comrade Akram Sadek Hourani, who was killed in the recent battles in Syria's Qalamoun region. (credit: REUTERS) — Hezbollah members in Lebanon take part in a funeral procession for their comrade Akram Sadek Hourani, who was killed in the recent battles in Syria’s Qalamoun region. (credit: REUTERS)

These will most likely be their dominant hand, meaning the hand they’d also use to hold the trigger of a rifle or push the button to launch a missile. The men will also be marked going forward, so many men with bandages on their hands will be a mark of working for the terrorist group.

Hezbollah has already lost around 450 fighters in its eleven-month confrontation with Israel. This is a significant loss for the group. While Hezbollah can replace losses, it doesn’t have an endlessly deep batting order. This is not only because it has to invest in training and security ahead of recruitment, but it also draws its recruits from a narrow spectrum of Lebanese society.

Hezbollah is based on the Shi’ite population of Lebanon, and even among Shi’ites, it can’t recruit all of them. There are other Shi’ite movements, principally the Amal movement. Amal has 14 seats in Lebanon’s parliament, and Hezbollah has 15.

The overall challenge for Hezbollah is not just replacing wounded and dead fighters. The group will be challenged to rapidly roll out some other way to communicate with its men. The use of pagers may seem archaic, but Hezbollah apparently chose to use this system because it assumed the network could not be penetrated. It issued the pagers, the way a drug gang might do so, and secured the network itself.

Hezbollah has long sought to maintain its own complex and secure communications network in Lebanon. Back in 2008, this became controversial. Hezbollah was accused of killing former Lebanese Prime Minister Rafic Hariri and then dragging Lebanon into the 2006 war with Israel.

Stay updated with the latest news!

Subscribe to The Jerusalem Post Newsletter

Subscribe Now

At the time, France24 noted that “security sources say Hezbollah has an extensive fixed-line telecommunications network that covers south and east Lebanon as well as Beirut’s southern suburbs.” Lebanon’s government, which at the time had elements opposed to Hezbollah’s increasing control of Lebanon, opposed the private communications network. In the end, Hezbollah won out and continued its march to control Lebanon.

In 2011, reports indicated that phone records of Hezbollah terrorists had led to indictments of Hezbollah men for the murder of Hariri in 2005. “Four Hezbollah suspects in the killing of Rafik Hariri were linked to the attack largely by circumstantial evidence gleaned from phone records, according to an indictment published on Wednesday after a six-year investigation which polarised Lebanon,” Gulf News reported.

Hezbollah would have known from the 2005-2011 experience that its communications systems were in the spotlight. The group prides itself on operational security. Hezbollah has also been viewed by experts as one of the more successful Arab military structures in the region. Kenneth Pollack, in his 2019 book Armies of Sand, examined the relative success of Hezbollah compared to other Arab armies in the region.

Strong military structure

In essence, Hezbollah is a more successful military structure, even though it is a terrorist army in Lebanon, than many Arab armies in the region. This is evident from how it has not only been able to confront Israel but also stockpile more rockets, missiles, and drones than many armies in second or third-world countries. Hezbollah has pioneered drone threats against Israel and carried out numerous attacks in this war, for instance.

The chaos that will follow the exploding pagers is already evident in Lebanon. Reports say the Iranian-backed terrorist group is scrambling to tell its members not to use communications devices. Hospitals have numerous injured men. The group will have to scramble to put its organization back together.

Effective groups, whether militaries, terrorist groups, cartels, gangs, or corporations, need to have good communication. A group like Hezbollah needs this to mobilize people and coordinate attacks. It can’t coordinate the launch of large numbers of missiles if it can’t get men to the launchers. Hezbollah requires a way to get in touch with its fighters. It will need to scramble now to replace its pagers or other devices.

It will also now be concerned about the penetration of its operational security. When groups like Hezbollah are in chaos, they are more vulnerable to making mistakes. This reminds us of the story of the penetration of the KKK in the film Mississippi Burning. It took time for the FBI to cause the “rattlesnakes to commit suicide,” but in the end, the KKK was defeated. Similarly, when the US-led coalition defeated Saddam’s army in Iraq in 1991, it set about destroying its command and control nodes. This is how terrorist groups and militaries are defeated.

Hezbollah faces a difficult challenge now. It is in chaos. It may want to lash out and strike back. But it has suffered a major setback. This is also an embarrassing setback. Hezbollah rests on its allure, its sense of being an elite group that is not vulnerable. Now, it feels vulnerable.

ISRAEL/HAMAS

RUSSIA/UKRAINE/

Putin Orders Third Troop Expansion Of War, Making Army 2nd Largest After China’s

Tuesday, Sep 17, 2024 – 02:45 AM

For the third time since the Ukraine war began in February 2022, President Putin has approved an expansion of Russia’s military, on Monday signing a decree to boost the number of soldiers by 180,000.

This means Russia’s armed forces will include 1.5 million active servicemen going into winter. It is also a clear signal that Russia doesn’t plan on reducing the intensity of the fight in the Donbass anytime soon. This will bring the overall number of military personnel within Russia’s army, including all reserve forces, to over 2,300,000.

Putin had previously sign-off on two prior expansion waves: an increase of 137,000 in August 2022 and another expanse of 170,000 in December 2023.

In the fall of 2022, when Ukraine’s much-hyped counteroffensive was in full swing, Putin had called up some 300,000 reservists to join the fight.

With this latest troop increase, Putin could also be signaling NATO that Russia will not back down, at a moment the US and UK are mulling approving Ukraine’s use of long-range missiles to attack inside Russian territory.

The Associated Press summarizes of current estimated battlefield numbers:

The most capable Russian troops have been pressing an offensive in eastern Ukraine, where they have made incremental but steady gains in the past few months.

In June, Putin put the number of troops involved in what the Kremlin calls the “special military operation” in Ukraine at nearly 700,000.

And Reuters has highlighted that this makes Russia’s army second in manpower size only to China’s PLA military:

President Vladimir Putin on Monday ordered the regular size of the Russian army to be increased by 180,000 troops to 1.5 million active servicemen in a move that would make it the second largest in the world after China’s.

In a decree published on the Kremlin’s website, Putin ordered the overall size of the armed forces to be increased to 2.38 million people, of which he said 1.5 million should be active servicemen.

The Russian army will become the second largest army in the world after Putin's decree.

According to statistics, the top three in terms of military personnel today were China, India and the United States. Now only the PLA will be larger than the Russian army in terms of numbers.… pic.twitter.com/Usz97R7SNM
— S p r i n t e r (@SprinterFamily) September 16, 2024

This new expanse might also be the result of Ukraine’s Kursk offensive. Kiev officials hoped that the invasion of southern Russia might force the relocation of regular troops from Donetsk to defend and take back villages on Russian soil.

But so far that calculation appears to have failed. Moscow has denied that it was forced to relocate significant amounts of troops. A Russian counteroffensive is underway, confirmed to be intensifying starting days ago, while at the same time Russian troops in Ukraine’s east are making steady gains.

END

RUSSIA/UKRAINE/IRAN

US Accuses Russia Of Helping Iran Achieve A Nuke

by Tyler Durden

Monday, Sep 16, 2024 – 05:20 PM

Britain and the United States have been talking up a new ‘axis of evil’ – and they tend to identify it as consisting of ‘pariah’ states Russian, Iran and North Korea. All of them are under far-reaching US-led sanctions, but in the process these countries have increasingly cooperated to the extent they’ve been more and more isolated on a global stage.

Last week’s major Washington accusation that Iran has transferred ballistic missiles to Russia gave way to new weekend allegations that Moscow is in return aiding in the Islamic Republic’s nuclear program.

Bloomberg reported over the weekend just after UK Prime Minister Ken Starmer’s visit to Washington, “The US and UK are increasingly concerned that Russia is sharing with Iran secret information and technology that could bring it closer to being able to build nuclear weapons, in exchange for Tehran providing Moscow with ballistic missiles for its war in Ukraine.”

“The Kremlin has increased its cooperation with Iran over its ambitions to obtain atomic weapons in recent months, according to Western officials familiar with the matter, who spoke on the condition of anonymity to discuss assessments that haven’t been made public,” the report said.

There’s a widespread perception that Tehran is pushing to achieve nuclear weapons status in response to its ongoing showdown with Israel, and in connection to Gaza events.

Secretary of State Antony Blinken has also lately highlighted potential Russia-Iran nuclear cooperation, saying days ago: “For its part, Russia is sharing technology that Iran seeks – this is a two-way street – including on nuclear issues as well as some space information.”

He has accused both countries of sowing “even greater insecurity” around the world. And G7 countries warned last week that Iran’s enriched uranium and nuclear program “continued to grow significantly, without any credible civilian justification.”

Russia, which is among the world’s two countries possessing the most nuclear warheads (alongside the United States), has the technical knowhow and components to potentially help Iran bring a bomb to completion.

Iran has meanwhile claimed it has demonstrated “restraint” and is taking a ‘moderate’ path…

Iran has shown restraint after Israeli killing of Hamas leader, president says: In wide-ranging press conference, Masoud Pezeshkian also addresses questions on Russia, Houthis and nuclear plans

The Iranian president, Masoud Pezeshkian, has said Tehran… https://t.co/ZEurbpWUHu
— alphaBETA (@alphaBETA_XXL) September 16, 2024

But still, the rhetoric of Western officials and reports are filled with speculation and “what ifs” – but their biggest claims lack for evidence. At this point Iran is also denying that it has sent Russia ballistic missiles, despite Washington’s insistence that it has.

end

Hezbollah’s ‘9/11’: Iranian Ambassador Among 1,000+ Wounded After Israel Remotely Detonates Pagers

Tuesday, Sep 17, 2024 – 10:50 AM

Update(1050ET): An eyewitness tells Al Jazeera: “There’s more than 400 men here. Their pagers exploded, the ones they use for communication.” There are regional Lebanese media reports of over 1,200 Hezbollah operatives injured.

Reuters is confirming that Iranian Ambassador to Lebanon Mojtaba Amani is among the over 1,000 people injured in the series of pager explosions, based on a report in Iran’s Mehr news outlet. Some of the explosions happened in Syria as well, reports say.

An Al Jazeera correspondent writes, “We are talking about hundreds of members of the group in hospitals. We are seeing videos online of injuries to their arms, to their legs, even to their faces.” The Lebanese Health Ministry is urging for doctors and nurses to rush to south Beirut hospitals amid a shortage.

From an alleged Hezbollah source cited in AP and Israeli media:

The official, speaking on condition of anonymity because he is not authorized to speak to the media, says the explosions were the result of “a security operation that targeted the devices.”

“The enemy [Israel] stands behind this security incident,” the official says, without elaborating.

He adds that the new pagers that Hezbollah members were carrying have lithium batteries that apparently exploded.

* * *

“A Reuters journalist saw 10 Hezbollah members bleeding from wounds in the southern suburb of Beirut known as Dahiyeh,” the report continues.

Good morning cyber folks. A borderline literally incredible story from Lebanon, where Reuters is reporting that a simultaneous mass attack on Hezbollah members was…Israel hacking their pagers. Possibly Teletrim, per @michaelh992 https://t.co/FVBNqrNTdC https://t.co/IhLlbMBFID
— Kevin Collier (@kevincollier) September 17, 2024

Local hospitals are said to be inundated with victims as well as groups of family members rushing to entrances trying to find out what’s going on.

Israel has yet to comment on the apparent covert operation.

I severely doubt it’s some technological strike, most likely explosive planted inside the pager.

Whatever it is, the consequences will be dire.

(Stop taking pictures of the wounded, you fucking imbeciles) pic.twitter.com/RIScKZrGTK
— War Monitor (@WarMonitors) September 17, 2024

A prominent Lebanese and regional war monitor account had this to say…

Most videos are too graphic, but the below shows some of the chaos in the aftermath of the initial explosions.

Footage from Dahiyeh, #Lebanon 🇱🇧, where a @Reuters journalist reports seeing 10 Hezbollah members bleeding from wounds due to their pagers exploding pic.twitter.com/XmyJBLZYvZ
— Aleph א (@no_itsmyturn) September 17, 2024

developing…

RUSSIA

END

RUSSIA/UKRAINE

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

END

MARK CRISPIN MILLER

Disney/ABC has done a pretty good job killing off the staff at “General Hospital”

In that one way, at least, the show is very realistic

Mark Crispin MillerSep 16

READ IN APP

Two members of the team survived by saying NO to the “vaccine”: Ingo Rademacher, whom ABC fired for non-compliance (its decision later upheld by an L.A. court); and Steve Burton, who also was let go, but ABC then hired him back in June.

6 have “died suddenly”:

N’Neka Garland, ‘General Hospital’ producer, dies at 49

March 30, 2023

N’Neka Garland, an Emmy-winning producer on General Hospital who spent the past 22 years with the venerable ABC soap opera, has died. She was 49. Garland suffered a heart attack at her home in Sherman Oaks and died Monday at Providence Saint Joseph Medical Center in Burbank, her friend Cori Murray told The Hollywood Reporter. Garland, whose late half-brother was rap legend Tupac Shakur, served as coordinating producer on General Hospital since 2018 and then producer since 2021. She shared Daytime Emmy nominations for outstanding drama series in 2019, ’20 and ’21, winning two years ago.

Link

Upgrade to paid

‘General Hospital’ star Jacklyn Zeman, aka Bobbie Spencer, dies at 70 after cancer battle

May 11, 2023

Jacklyn Zeman, who portrays nurse Bobbie Spencer on ABC's "General Hospital," has died at 70 after a short battle with cancer, her family confirmed Wednesday, May 10, 2023.

Jacklyn Zeman, who played Bobbie Spencer for 45 years on ABC’s “General Hospital,” has died at 70. Zeman died after a short battle with cancer, her family confirmed Wednesday. News of her death was first announced by the show’s executive producer, Frank Valentini.

Link

Billy Miller, Emmy-winning soap opera actor, dead at 43

September 17, 2023

Very sad and extremely shocking news today out of the television universe: Billy Miller, a three-time Daytime Emmy winning soap opera actor — best known for his roles on The Young and the Restless and General Hospital — has passed away. He was 43 years old. No cause of death has been announced at this time. A native of Oklahoma, Miller was two days away from his birthday at the time of his death.

Link

Actor David Gail, best known for Beverly Hills, 90210 and Port Charles, dead at 58

January 21, 2024

Tampa, Florida – David Gail, the actor who played Dr. Joe Scanlon in more than 200 episodes of the General Hospital spinoff Port Charles, has died at the age of 58. Gail’s credits also include playing Stuart Carson, the fiancé of Shannen Doherty’s Brenda Walsh in Beverly Hills, 90210, and Dean Collins in the WB drama Savannah. A cause of death for Gail has not been shared as of Sunday.

Link

‘General Hospital’ actress Robyn Bernard found dead in open field

March 13, 2024

San Jacinto, CA – Actress Robyn Bernard, who appeared in 145 episodes of the soap opera General Hospital in the 1980s, was found dead in a field behind a business in San Jacinto, California, the Riverside County Sheriff’s Department reported. No cause of death has been established for Bernard, 64, who retired from show business more than two decades ago.

No cause of death reported.

Link

Doug Sheehan, star of General Hospital and Knots Landing, dead at 75

July 8, 2024

Big Horn, Wyo. – Fans of both daytime and primetime soaps suffered a blow this week as news spread that Doug Sheehan, best known for his stints on General Hospital and Knots Landing, passed away. While a cause of death was not released, a notice from the Kane Funeral home shared that the 75-year-old died with his wife by his side on June 29th. While the handsome actor appeared on shows as diverse as Diagnosis Murder and Sabrina the Teenage Witch, it was his role as good-guy Joe Kelly on General Hospital which first brought him to the attention of many fans.

No cause of death reported.

Link

2 nonfatal:

‘General Hospital’ Max Gail’s wife diagnosed with cancer

April 19, 2024

General Hospital alum Max Gail’s wife has sadly been diagnosed with breast cancer. This all comes while she is caring for her husband while he is undergoing a mystery procedure.

No age reported.

Link

General Hospital’s John J. York emotionally talks returning to soap after cancer battle

June 18, 2024

General Hospital star John J. York became emotional while discussing his battle with cancer and the overwhelming support he has received from fans while joining bone marrow donor registries. The 65-year-old soap opera actor was diagnosed with two types of blood and bone marrow cancer, myelodysplastic syndrome and smoldering multiple myeloma, in 2022 after a routine checkup.. Appearing on Good Morning America, York teared up when describing how many people signed up to donate bone marrow after he made his diagnosis public.

Link

DR PAUL ALEXANDER

SLAY NEWS

Global Study: Most ‘Covid Deaths’ Were Caused by ‘Vaccines,’ Lockdowns, Hospitals A major global study has concluded that most deaths recorded during and after the Covid pandemic were caused by mRNA “vaccines,” hospital protocols, and lockdowns and not by the virus itself.READ MORE

UN Pushing for Global Vaccine Passports, Digital IDs, Mass Censorship Unelected globalists at the United Nations (UN) are pushing for the governments of sovereign countries to usher in vaccine passports and digital IDs for their citizens.READ MORE

Watchdog Offers ‘Queers for Palestine’ $1 Million to Hold Gay Pride Parade in Hamas-Controlled Gaza A watchdog group is planning to expose leftist hypocrisy after offering the anti-Israel organization “Queers for Palestine” $1 million to organize a gay pride event in Hamas-controlled Gaza.READ MORE

Veteran Fact-Checks Kamala Harris’ Claim There Are No Active U.S Troops in Combat Zones During her debate with President Donald Trump, Democrat presidential nominee Kamala Harris had a free pass from ABC’s moderators to promote falsehoods on national television.READ MORE

Trump Declares ‘There Will Be No Third Debate’ as Kamala Harris Demands Rematch President Donald Trump has confirmed that he will not take part in a rematch with Kamala Harris after the last debate on ABC News was rigged in the Democrat presidential nominee’s favor. READ MORE

National Park Police Increase Patrols in NYC Area amid Spike in Dead Animal Reports New York City has been hit with a spike in reports of dead animals being found after suspected ritual sacrifices.READ MORE

Green Party Seeks Supreme Court Intervention over Jill Stein’s Exclusion from Nevada Ballot Green Party Seeks Supreme Court Intervention after Jill Stein’s Exclusion from Nevada BallotREAD MORE

Tito Jackson Dies Suddenly While Driving Music star Tito Jackson, a member of the Jackson 5 and the older brother of Michael Jackson, has tragically died suddenly.READ MORE

Would-Be Trump Assassin Ryan Routh Is a Democrat Donor: ‘Massive Trump Hater’Records show that the man who attempted to assassinate President Donald Trump in Florida on Sunday has made multiple political donations to the Democrats.READ MORE

EVOL NEWS

Lawmakers Condemn Political Violence After 2nd Apparent Assassination Attempt on Trump – EVOL READ MORE…

LATEST NEWS:

Sheriff Ric Bardshaw Says Trump’s Security at West Palm Golf Course Was Lighter Because He’s Not The ‘Sitting President’ – EVOL
Read more.

Trump assassination attempt live updates: Follow the developments – EVOL

Read more…

Investigators Release Images Of Would-Be Trump Assassin’s Sniper’s Nest – EVOL

Read more…

BREAKING: Suspect who fired shots at President Trump has been indentified, ‘MASSIVE Trump Hater’ – EVOL

Read more..

.Digital COVID Vaccine Passports to Be Implemented in the EU – EVOL

Read more…

Here’s Why The Secret Service Wasn’t Protecting The Golf Course Perimeter – EVOLRead more…Person in custody after Trump golf club incident was once convicted of possessing a machine gun – EVOL

Read more..

.WATCH: NBC highlights “increasingly fierce rhetoric”on campaign trail after Trump assassination attempt today…. – EVOL

Read more…

NEWS ADDICTS

Digital COVID Vaccine Passports to Be Implemented in the EU The US has implemented biometric facial recognition technology at certain airports as part of its Real ID program. This move comes as the European Union (EU) is testing a program in five countries that tracks vaccination status through a digital ID managed by the World Health Organization (WHO). As more vaccines, including a potential COVID-19 booster, are added to the …READ THE FULL REPORT

Understanding the Toxicity of the Moderna COVID Vaccine: Must-Read The Midwestern Doctor has released a compelling post titled “Why Was Moderna Allowed to Use A Toxic mRNA Dose?” In this substack, the doctor highlights the concerning issue of Moderna administering doses three times higher than Pfizer. As data emerges, it becomes clear that these higher doses of modRNA in the Moderna Vaccine are causing significant problems. The doctor accuses …READ THE FULL REPORT

WATCH: NBC highlights “increasingly fierce rhetoric”on campaign trail after Trump assassination attempt today….NBC News host Lester Holt tonight highlighted what he called “increasingly fierce rhetoric” on the campaign trail after Trump’s assassination attempt today but you won’t believe what he talked about. Instead of talking about the dangerous rhetoric from Kamala Harris and Democrats about Trump being a ‘threat to democracy’, Holt claimed Trump and JD Vance were responsible for bomb threats …READ THE FULL REPORT

WATCH FULL PRESSER: Law enforcement gives update on 2nd Trump assassination attempt at West Palm Beach golf club Law enforcement officials just gave an update on a 2nd Trump assassination attempt in three months, as President Trump was at this West Palm Beach golf club. In short, they reveal that the Secret Service noticed a rifle nose in a chain-link fence about one hole ahead of Trump on the golf course. The Secret Service agent began firing on …READ THE FULL REPORT

Trump campaign statement says President Trump safe following gunshots in vicinity –There were gunshots today in the vicinity of President Trump while at his West Palm Beach golf course but his campaign says he’s safe: pic.twitter.com/FHCmgRtebt — Team Trump (Text TRUMP to 88022) (@TeamTrump) September 15, 2024 It’s being reported that the gunshots were not fired at Trump and they also came from outside of the golf club: SHOOTING NEAR TRUMP …READ THE FULL REPORT

LATEST REPORTS FOR NEWS JUNKIES

Hazardous Components Found in New Monkeypox ‘Vaccine’Dr. Geoff Pain raises concerns about the harmful ingredients found in the monkeypox (mpox) ACAM2000 vaccine.READ THE FULL REPORT

Judge rules against RFK Jr in Wisconsin ballot battle RFK Jr. isn’t having much luck in Wisconsin so far in terms of getting his name removed from the ballot. Today a judge ruled that Kennedy’s name must remain on the ballot because state laws says it must. This comes despite Kennedy arguing that state law discriminates against independent candidates. Here’s more from ABC News: A judge denied Robert F. …READ THE FULL REPORT

Brit Hume makes a GREAT point about Democrats and the Trump assassination attempts…Brit Hume made a great point this afternoon about the rhetoric from the Democrats in relation to the Trump assassination attempts and I thought it was worth posting. Here’s what he said: If Donald Trump is held responsible for Jan. 6 because of his allegations that the 2020 election was stolen, is it unfair, after two assassination attempts, to hold …READ THE FULL REPORT

WATCH: FBI shows up to intimidate resident, ends up leaving with tail tucked between their legs…The FBI showed up at Jeremy Kauffman’s home to intimidate him over some post on social media that he made and Kauffman totally got the better of them. They never even got to really explain why they were there, no less allowing him to turn his camera off. Because he refused to talk to them without a full name and …READ THE FULL REPORT

WATCH LIVE: Secret Service and FBI hold presser on Trump assassination attempt at 4PM ET The Secret Service and the FBI will hold a news conference at 4PM ET on the second assassination attempt on President Trump’s life. You can watch it below.READ THE FULL REPORT

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

Nifty, Shifty, Grifty, Swift-y Fifty-50

Tuesday, Sep 17, 2024 – 11:05 AM

By Michael Every of Rabobank

Ahead of the Fed meeting, our US strategist Philip Marey has just put out an FOMC preview titled ‘Casino’ that acts as reminder that his ahead-of-the-market call of three Fed 25bps cuts this year starting in September still holds – but there is now a substantial risk of a 50bp move this week. The market has been pricing the Fed as close to a 50-50 red-black roulette wheel spin. Yet his title is even better: because those who use analysis to predict the game’s outcome get their hands broken with a hammer.

The Fed want inflation back at 2%. On a headline basis, it’s heading there. However, this is led by deflation in and from China, which the Fed has nothing to do with, and which is prompting tariffs globally. It’s also due to a collapse in global commodities pricing in a global downturn the Fed say isn’t coming. Core inflation is 3.2% y-o-y and not heading lower. On an ultra-core basis, it’s also over target, edging higher, held up by housing. There, rate cuts mean lower mortgage rates, so more housing demand, but not more supply. That means inflation, not deflation, regardless of what White House economic advisor and former Fed Deputy Chair Brainard just said.

The Fed want to see unemployment stay low – if it’s meaningful given recent demographic changes they apparently knew nothing about. Yes, the last payrolls revision shifted the dynamic there significantly: but again, did the Fed not know this was coming when some had been mentioning it for months in advance? Literally weeks ago, the Fed were unconcerned, now they worry: yet weekly initial jobless claims data are unchanged.

Nor are the Fed using their endless speaking opportunities to underline that financial conditions are not tight, but loose. Mortgage rates are moving lower before the Fed does. Stocks are at record highs. Credit and junk bond spreads are near lows. The two-year yield is so far below the Fed Funds rate that we almost don’t need to bother having a Fed Funds rate, which is a discussion that gets your hand broken by different people.

You count all those cards, and it suggests a near 50-50 call between 25 and 50bps as the first Fed cut. Even so, logic and consistency say the larger move, only seen at the start of past economic shocks, would suggest the Fed fears something they aren’t telling us. As Philip puts it, “if the economy has become fragile, a 50bps cut could even undermine confidence and make it even more fragile.” Indeed, I put it to you that to go 50bps one must contend either the Fed didn’t know what they were doing recently; or don’t know what they are doing now; or both.

Regardless, large men in suits and sunglasses are politely inviting us for a chat about the Fed in a room with no windows. Fed whisperers used as channels for unofficial communication when their constant prattling, dots, and plots still don’t get the market to ‘efficiently price’ what they want, have one message: 50bps. Nick Timiraos; Greg Ip; John Hilsenrath; former Fed members; oddly, even the Financial Times editorial board are all saying it. How have the verbose Fed gotten to the point where this full court press is required, or is this all just coincidental?

Worse, three Democratic senators, led by Elizabeth Warren, are openly calling for the Fed to go 75bps: these are the same people outraged at the idea that Trump should have a say in setting interest rates. Is that a framing device to make a 50bp move look measured, or is that just a conspiratorial thinking? It’s not like there isn’t a swirl of such thinking around right now, and for very good reasons, even if, again, it risks getting one’s hand broken even typing it.

Were we to get 50bp –which I repeat Philip sees as a tail risk, not a given– would the market see it as nifty (catching up to the curve), shifty (what am I missing?), grifty (who’s on the take?), or Swift-y (political)?

Yet, believe it or not, there are other high-stakes tables being played at elsewhere that matter:

JPY is trading just above 140 after dipping below it during the Japanese holiday yesterday. The wild ride in the yen carry trade unwind likely isn’t over if the Fed as we hear “50!” and “No, 75!”
The US has proposed closing the de minimis loophole allowing packages worth less than $800 to enter the US customs free, which is seen as targeting Chinese fast-fashion firms Temu and Shein. Thailand just made a similar move to protect its industries from postal Chinese imports.
The second assassination attempt on Trump already seems to have a shorter media half-life than the first. Trump tweeted “0-2”, an improvement over “I HATE TAYLOR SWFIT!” The Babylon Bee tweeted: “Kamala safe and in stable condition after attempted interview.” Sadly, this all looks like the ‘DM = EM’ process in motion.
Canada introduced 30-year mortgages for first-time and new-home buyers, and also allowed mortgage insurance on homes up to C$1.5m (up from C$1m), so buyers can bid on more expensive housing. Guess what this will mean? More expensive housing – demand goes up while supply remains unchanged; and more debt – especially alongside “RATE CUTS!” Can you tell there’s an election soon? And can you tell most politicians don’t have any new political-economy ideas yet?
Germany reinstituted border controls as its coalition government tries to cap a surge in votes for the far right AfD and old-school far left BSW ahead of another state election this month; yet it also just signed an agreement with Kenya to allow 250,000 jobseekers to enter. That’s as VW may reportedly force through plant closures and 15,000 job cuts this year.
EU commissioner Thierry Breton, who had threatened Elon Musk, resigned while alleging horse-trading over who gets what roles: what can one retort other than, “I am shocked, shocked that gambling is going on here!” Meanwhile a spat brews over the appointment of another commissioner alleged to have spied for former-communist Yugoslavia.
Iran-backed Houthis fired what they claim was a hypersonic missile at Israel’s international airport, evading its defences. No harm was done, but the Houthis are getting better weapons, and a larger Israeli response seems inevitable. Israel’s war cabinet also set the goal of returning its displaced population to the north, into which Iran-backed Hezbollah fires almost daily from Lebanon. The US envoy to the region just stated attacking Hezbollah won’t allow displaced Israelis to return home, implying the key is a Hamas hostage deal – which means Hamas have an incentive not to make one to escalate the regional conflict. Meanwhile, rumours swirl PM Netanyahu is to fire defence minister Gallant for the second time (the first reversed after street protests, the interjection of the PM’s wife perhaps stymieing it this time). If it happens, there’s a higher probability of an attack on Lebanon including a ground operation. That would risk the regional conflagration simmering since October 7, 2023. But will it wait until after 5 November?
The US has underlined its concerns Russia is helping Iran with nuclear technology in exchange for Tehran’s aid in fighting Ukraine. That’s as the new “reformist” Iranian president says his country “didn’t want to enrich uranium at near-weapons grade levels but had been forced to by the US withdrawal from its nuclear deal with world powers.” What can one retort other than, “I am shocked, shocked that nuclear weapons are going on here!”
Russia announced it will expand its armed forces by 180,000 to a standing army of 1.5 million active servicemen (nearly double that including support staff). The EU feels like it has 180 people thinking how it can thrive in this realpolitik world, and 150 million rejecting their work.

“That’s the truth about Las Vegas. We’re the only winners. The players don’t stand a chance.” – Sam ‘Ace’ Rothstein, Casino

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

VENEZUELA

END

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

EURO VS USA DOLLAR: 1.1139 UP 0.0009

USA/ YEN 140.63 DOWN 0.110 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 1.3217 UP 0006

USA/CAN DOLLAR: 1.3587 UP.0002 (CDN DOLLAR DOWN 2 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 13.5 PTS OR .49%

Hang Seng CLOSED UP 237.90 PTS OR 1.37%

AUSTRALIA CLOSED UP 0.24%

// EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 237.90 PTS OR 1.37%

/SHANGHAI CLOSED DOWN 13.05 OR .49%

AUSTRALIA BOURSE CLOSED UP 0.24%

(Nikkei (Japan) CLOSED DOWN 378.54 POINTS OR 1.03%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2580.65

silver:$30.76

USA dollar index early TUESDAY morning: 100.32 DOWN 12 BASIS POINTS FROM MONDAY’s CLOSE.

TUESDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.717% DOWN 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.826% DOWN 3 0 AND 2/ 100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.937 UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 3.487 DOWN 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.1450 DOWN 0 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

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

Euro/USA 1.1117 DOWN .0014 OR 14 basis points

USA/Japan: 141.66 UP 0.864 OR YEN IS DOWN 86 BASIS PTS//ROUND II OF ENDING YEN CARRY TRADE

Great Britain 10 YR RATE 3.8160 UP 1 BASIS POINTS //

Canadian dollar DOWN .0016 OR 16 BASIS pts to 1.3603

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY ON SHORE CLOSED UP AT 7.0903(ON SHORE)

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.1034)

TURKISH LIRA: 34.00 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.826

Your closing 10 yr US bond yield UP 3 in basis points from FRIDAY at 3.649% //trading well ABOVE the resistance level of 2.27-2.32%)

USA 30 yr bond yield 3.944 UP 1 in basis points /11:00 AM

USA 2 YR BOND YIELD: 3.609 UP 5 BASIS PTS.

GOLD AT 11;00 AM 2575.85

SILVER AT 11;00: 30.86

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

London: CLOSED UP 15.05PTS OR 0,.33%

German Dax : CLOSED UP 92,97 OR 0.30%

Paris CAC CLOSED UP 32,98 PTS OR 0.51%

Spain IBEX CLOSED UP 122,40OR 1.06%

Italian MIB: CLOSED UP 210.30OR 0.63%

WTI Oil price 70,33 12EST/

Brent Oil: 73.19 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 91.47 ROUBLE DOWN 0 AND 7/100

GERMAN 10 YR BOND YIELD; +2.1450 UP 0 BASIS PTS.

UK 10 YR YIELD: 3.8160 UP 1 BASIS POINTS

CDN 10 YEAR RATE: 2.907 UP 4 BASIS PTS.

CDN 5 YEAR RATE: 2.716 UP 3

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1116 DOWN 0.0013 OR 513BASIS POINTS

British Pound: 1.3159 DOWN 0.0050 OR 50basis pts

BRITISH 10 YR GILT BOND YIELD: 3.7680 DOWN2 BASIS PTS//

JAPAN 10 YR YIELD: 0.833

USA dollar vs Japanese Yen: 142,17 UP 1,375YEN DOWN 137 BASIS PTS//

USA dollar vs Canadian dollar: 1.3592UP 0.0005CDN dollar DOWN 5BASIS PTS

West Texas intermediate oil: 71,38

Brent OIL: 73,82

USA 10 yr bond yield UP 2 BASIS pts to 3.644

USA 30 yr bond yield UP 2 BASIS PTS to 3.953%

USA 2 YR BOND: UP 4 PTS AT 3.592

CDN 10 YR RATE 2.916UP 4 BASIS PTS

CDN 5 YEAR RATE: 2.778 UP 8 BASIS PTS

USA dollar index: 100.464 UP 22 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.10 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 91.50 DOWN 0 AND 10//100 roubles

GOLD 2,568,90 3:30 PM

SILVER: 30.7633;30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 15,90PTS OR 0.04%

NASDAQ UP 9.33PTS OR 0.048%

VOLATILITY INDEX: 17.163UP 0.49 PTS OR 2,86%

GLD: $237,34 DOWN 1,32OR 0.55%

SLV/ $27.96 DOWN ,11 OR 0.39%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Stocks & Bonds Sold Ahead Of Fed Decision; Crypto & Crude Surge

by Tyler Durden

Tuesday, Sep 17, 2024 – 04:00 PM

Hot retail sales print and better than expected Industrial production data are not exactly what the doves wanted to see ahead of tomorrow’s big decision (25 or 50bps). Does this look like an economy that needs rate-cuts?

Source: Bloomberg

To complicate things further for traders, NikiLeaks (WSJ’s Nick Timiraos) said withholding a larger cut could raise awkward questions (and Goldman’s trading desk reminded that going back to Bernanke, the Fed typically delivers close to what the market is pricing in)… which is currently around 42bps of cuts tomorrow (70% odds of 50bps cut)…

Source: Bloomberg

Trading was ‘squeezy’ out of the gate with Small Caps soaring on the back of “most shorted” stocks. But that faded around the European close and ‘most shorted’ fell back to unchanged…

Source: Bloomberg

A similar picture occurred for Mag7 stocks, a big gap-up open quickly reverted lower, back to unchanged…

Source: Bloomberg

Goldman’s trading desk noted that volumes were muted and S&P top of book (liquidity) tracking significantly lower as most investors in wait and see mode.

HFs much better for sale, selling macro products (short ratios elevated to 75%) .
LOs are much better buys, though activity very light, with buy skews across macros, discretionary, and tech.

By the close, only Small Caps held on to gains with the rest of the majors all languishing around unchanged…

Stocks and bonds remain in their own worlds… for now…

Source: Bloomberg

Treasury yields were higher on the day with the short-end lagging (2Y +4bps, 30Y +2bps). That left the long-end still lower in yield on the week, but the rest of the curve higher in yield…

Source: Bloomberg

The dollar rallied modestly on the day, ending a three-day down-streak…

Source: Bloomberg

Bitcoin surged back above $61,000 intraday today, erasing yesterday’s dump back below $58,000…

Source: Bloomberg

Oil prices continued their rebound, with WTI testing $72 intraday…

Source: Bloomberg

Gold leaked lower on the day, but held above $2560…

Source: Bloomberg

Finally, is it time for global liquidity to catch up to the equity market’s hope…

Source: Bloomberg

…or will tomorrow be the sell-the-news event as The Fed can’t hide its fear of a hard-landing?

MORNING TRADING

AFTERNOON TRADING///

II USA DATA

US Industrial Production Is Flat YoY In August, Despite Surge In Auto Production

Tuesday, Sep 17, 2024 – 09:23 AM

After a significant decline in July, US Industrial Production rebounded dramatically in August, rising 0.8% MoM (as July was revised down from -0.6% to -0.9% MoM). That lifted Industrial Production back up to unchanged on a YoY basis…

Source: Bloomberg

Manufacturing also soared 0.9% MoM, lifting the YoY print to +0.2%…

Source: Bloomberg

Most major market groups posted gains in August, with the jump in the output of motor vehicles and parts contributing to the strength recorded across a variety of categories.

The index for consumer goods rose 0.7 percent, as a 10.5 percent increase in the index for automotive products more than offset a small decline in the index for nondurable consumer goods.

Similarly, the index for business equipment stepped up 1.4 percent in August, supported by a 6.6 percent gain in the index for transit equipment.

The index for materials grew 0.9 percent in August, with gains in all its subcomponents, including the index for durable goods materials, which rose 1.6 percent and was bolstered by the output of motor vehicle parts.

Beyond the influence of motor vehicles and parts, defense and space equipment posted a gain of 0.5 percent and was 3.2 percent above its year-earlier level.

Business supplies recorded the sole decline among major market groups, edging down 0.2 percent in August after decreasing 0.7 percent in July.

Capacity Utilization ticked modestly higher in August…

Source: Bloomberg

Is US manufacturing really swinging from its biggest drop since January to its biggest jump since Feb?

And one more thing – are we really going to cut rates by 50bps after a big surge in manufacturing?

END

US Retail Sales Better-Than-Expected Thanks To Non-Store Retailers

Tuesday, Sep 17, 2024 – 08:42 AM

After August’s upside surprise (+1.0% MoM, thanks to some shenanigans in the used car sales segment of the economy), US Retail Sales was expected to decline MoM (-0.2% MoM) in August (with BofA suggesting a 0.3% MoM decline).

But…. just like in July, the headline retail sales print for August beat expectations, rising 0.1% MoM (with July revised up to +1.1% MoM) thanks to non-store retailers…

This slowed the YoY retail sales print to +2.1%…

Source: Bloomberg

However, core retail sales (ex-Autos) rose just 0.1% MoM (less than the +0.2% expected), but the core YoY print rose to +3.9%…

Source: Bloomberg

Under the hood, Motor Vehicle and Electronic Appliance sales contracted while non-store retailers (internet) surged…

After last month’s surge, vehicle sales were flat MoM at the highs ignoring the slide in CPI Used car prices which suggest sales are anything but robust…

Source: Bloomberg

Non-Store Retailers hit a new record high…

Source: Bloomberg

Does anyone else think that line is just a little too linear for the real world?

Perhaps most notably, spending on outside drinking and food peaked in Nov 2023 suggesting that consumers remain under pressure…

Source: Bloomberg

As a reminder, retail sales data is nominal. A simple adjustment based on CPI shows real retail sales are flat YoY…

Source: Bloomberg

Will any of this stop Powell and his pals from cutting rates by 50bps tomorrow? Of course not…

III USA ECONOMIC COMMENTARIES

A good commentary as to why the raising of corporate tax rates is deeply flawed

(Carlson)

Why Kamala’s Planned Corporate Tax Hike Is Deeply Flawed

Tuesday, Sep 17, 2024 – 06:30 AM

Authored by Jeff Carlson & Hans Mahncke via Truth Over News,

One of the more important policy issues for markets in the US election may be corporate tax rates. Kamala Harris has said she wants to raise corporate taxes from the current rate of 21% up to a lofty 28%. During her 2020 primary campaign Kamala said she wanted to raise corporate taxes all the way to 35% – and this may still be her real target. By contrast, President Trump has said he wants to cut the corporate tax rate to at least 20% but would prefer to drop the corporate tax rate to 15% if possible.

How much revenue is generated from corporate taxes?

The answer to this question may surprise some people. In 2023 the federal government collected just under $420 billion in corporate taxes. This compares to the approximately $2.18 trillion in individual taxes and $1.6 trillion in payroll taxes. The amount paid in corporate taxes is not as large as many intuitively expect – a little more than double the total amount of aid that we’ve allocated to the Ukraine war.

Corporate tax revenue has actually been declining on a percentage basis for decades. The reasons for the decline have everything to do with incentives and competition – incentives for businesses to invest, locate and produce in the United States and competitiveness of American companies in a global environment. And it’s all intrinsically tied into economic activity, productivity, wages and employment. We as a nation have stymied business activity through a combination of high taxes and excessive regulations.

Who actually pays corporate taxes? Hint: it isn’t the corporations.

Corporations are actually just tax collectors – legal entities that serve to collect taxes on behalf of the corporation’s owners. The true taxpayers are primarily the company’s shareholders – and to some degree, labor and customers – not the corporations that Kamala tries to vilify. When Kamala says she’s going to raise taxes on corporations, what she’s really saying is she’s going to raise taxes on you and me.

As our system stands now, shareholders’ dividends and capital gains are reduced by taxes collected by the corporation. Dividends are profits that a corporation distributes amongst its shareholders. Capital gains come from an increase in the value of a corporation’s assets. If the corporation did not pay corporate taxes on “behalf” of the shareholder these extra dollars would flow through to shareholders in the form of increased profits and dividends, reinvestment in the business (which generates additional profits) and share repurchases. These increased cash flows to shareholders would then be taxed at the shareholder level.

If this argument is not sitting well, consider this example. A corporation could, in theory, give year-end bonuses to its workers such that the amount exactly equaled the corporation’s taxable income. After the payment to workers, the corporation would have zero taxable income. Because the corporation would record no profits in this case, shareholders would pay no tax as they too would receive no profits. But workers would now have a significantly increased tax bill – and in all likelihood be taxed at a higher overall rate than the corporation would have been. The corporation merely serves as the vehicle or conduit – the legal structure – for tax payments.

What about customers and labor – don’t they shoulder much of the corporate tax bill through higher prices for goods or lower wages?

As it turns out, there is some material debate about these two groups. In a normalized market environment, customers probably don’t pay much in corporate tax as it is very hard to pass this cost through. The ultimate price of the corporation’s end product or service is determined by market forces – not tax rates. And corporations have many differing competitors – including sole proprietorships and foreign corporations with differing tax structures. Market competition determines the final selling price – not taxes.

The amount of corporate taxation that labor bears is less clear – the arguments center around the availability and flexibility of capital – the ability to shift production to lower cost areas, etc. The Tax Policy Center has concluded – fairly close to Treasury estimates – that labor bears about 25% of the corporate tax burden. Some estimates have labor bearing as much as 70% of the cost.

In our opinion, the amount of corporate taxes that are borne by labor is probably north of the 25% figure – but likely well shy of the 70% estimates. The reason for this lies primarily in the mobility of capital. Money is far more fungible and easily moved than labor. If returns are higher abroad due to lower foreign tax rates, investors will quickly move capital to those places. Labor has a more difficult time taking advantage of higher wages elsewhere.

When corporations are burdened with a higher tax rate, their return on capital falls, making them less attractive for investment. In order to attract capital, companies are forced to reduce costs in an attempt to boost returns. And, in general, labor is the largest cost component for most corporations, making it a prime target for cost cutting. The accelerating shift towards the use of AI may lead to an even greater amount of the tax burden being shouldered by labor.

Think of it in simple terms. If corporations were hit with a tax hike tomorrow, which group could more quickly adjust. Investors who could quickly sell and redeploy their capital overseas – or labor with their families and homes? The matter becomes a bit more complicated in real terms because if such a tax was enacted, share prices would be impacted immediately, but hopefully you get our point.

So the answer to who really pays corporate taxes appears to be primarily shareholders with labor sharing in some material percentage of the cost. What should be clear is that corporations do not truly pay taxes – they merely collect them on behalf of third parties for payment.

Why are tax rates different at the corporate level versus the shareholder level?

At the heart of the matter, the tax rate is lower for capital gains and dividends paid to shareholders to reduce the impact of double-taxation – profits used to pay dividends have already been taxed at the corporate tax rate. The capital gains and dividend tax rates are arbitrary but the intent has been to pick a number that was not so high as to completely discourage investment into companies by investors.

Why do we have differing corporate and individual taxation systems in the first place?

Our nation’s tax system evolved in fits and starts with various taxes being implemented and then repealed – some ruled unconstitutional. Our modern tax era began in 1909 – in response to rising political pressure to tax the rich – when Congress enacted an excise tax on corporations at the urging of President William Howard Taft. In a concurrent move, President Taft proposed the 16th Amendment to establish a personal income tax.

The excise tax on corporations did not require a constitutional amendment and was originally intended to be a temporary measure until the passage of the 16th Amendment which occurred in 1913. Like all things government, legislation once enacted does not die and so the two concurrent tax systems – corporate and individual were born. And they have been creating inefficiencies and needless complexities for our nation ever since.

We should consider abolishing the Corporate Tax – not raising it.

Reducing or eliminating the corporate tax rate would go a long way towards drawing businesses and business activity back to the United States. Our corporate tax structure creates countless unnecessary complexities and conflicts with our individual tax code. Do away with that structure – even if shareholder taxes are adjusted in a manner that is revenue neutral to the Treasury – and you have gained significant economic efficiencies.

Some other reasons to abolish the corporate tax:

Removal of political gamesmanship – An entire lobbying force working to get tax breaks for corporations is gone overnight. Gone too are the incentives for politicians to grant their corporate constituencies favors via the tax code. Kill the corporate tax code and you immediately remove a big motivation for corporate money being involved in the political arena – along with special interests.

Legal & Tax Departments – Tax compliance and tax strategy related departments would be rendered obsolete and would result in the saving of literally billions of dollars and countless man-hours. Tax lawyers and consultants would need to find another avenue for work. And smaller businesses would be placed on a more equal footing.

Tax status – There would be no need for non-profit distinction – and the associated games being engaged in by both companies and the IRS.

The entire tax system would be vastly simpler. Any corporate tax burden borne by labor would be removed. The increased level of investment by corporations – along with higher dividends – would re-invigorate our entire economy. Corporations would run their companies based on underlying economics without the distorting influence of tax strategy behavior.

Corporate CEOs would focus on what are now pre-tax profits. Foreign investment would flood back into the United States. International tax problems and distortions would disappear. U.S. corporate cash held overseas could be repatriated for use domestically.

Lowering (or removing) the corporate tax does not mean that taxation of corporate income is avoided. Instead, taxes would now be paid at the individual versus corporate level. Corporations could stop focusing on tax strategies and could instead place their full focus on generating profits. And Labor would see their corporate tax burden lifted.

Subscribe to Truth Over News here…

TRUMP, CHARLEROI PENNSYLVANIA

Watch: Resident Of PA Manufacturing Town Exposes Reality Of Haitian ‘Great Job Replacement’

Monday, Sep 16, 2024 – 09:20 PM

While Americans were hyper-fixated on the 20,000 Haitians the Biden-Harris administration dumped into Springfield, Ohio, through an expanded Temporary Protected Status program for migrants from the collapsed Caribbean nation, former President Trump shifted the conversation during a campaign rally last week to Charleroi, Pennsylvania.

PRESIDENT TRUMP: "The small 4,000 person town of Charleroi, Pennsylvania has experienced a 2,000% increase in the population of Haitian migrants under Kamala Harris — the schools are scrambling to hire translators for the influx of students who don’t speak English, costing local… pic.twitter.com/jvlP19ANL0
— Trump War Room (@TrumpWarRoom) September 12, 2024

Ahead of Trump spotlighting the Haitian surge in the tiny blue-collar town of Charleroi during a rally last week in Arizona, we cited the think tank America 2100, which first revealed that the town’s population of Haitian migrants exploded by 2,000% over the past two years.

It isn't just Springfield. It's happening everywhere.

In Charleroi, Pennsylvania—a low-income town of just 4,000—the immigrant population has increased by 2,000% over the past two years. And it's almost all Haitians.

Here's what one Charleroi councilman told us today: pic.twitter.com/Wkwv56Tnw5
— America 2100 (@America_2100) September 11, 2024

Several downtown residents spoke with us about the ongoing migrant surge. They said when the national media began covering the situation in Springfield — they thought, “Wait a minute”—the same migrant influx orchestrated by the Biden-Harris administration was happening across their town.

We spoke with one employee at a local shop, and we will keep his name anonymous for fear of retribution by local officials or the federal government. He provided us with helpful insight into the Haitian crisis in Charleroi.

He said at least half of the town’s population is now Haitian, noting the influx began to become noticeable under the Biden-Harris’ first term, adding there was just a recent surge in new Haitians. Many of these migrants are beneficiaries of Temporary Protected Status.

As far as what is visible by residents, they explained the primary reason the Haitians were dumped into the town was because of Fourth Street Foods, a food manufacturer that produces quality frozen food products for the processed foods industrial complex. These foods end up being sold in major retail stores throughout the US.

Let’s remind readers in March, we penned a note titled “How Shadowy Network Of NGOs Supplies Mega-Corporations With Migrants To Exploit Cheap Labor,” which is possibly how this entire scheme is being operated. The federal government alone can’t possibly plan shelter and transportation arrangements for the migrants.

The consequence of importing third-world migrants to replace blue-collar workers in the town crushes native households. Many residents complained that rents are out of control because the migrants exacerbated a housing shortage. Some have left the town for cheaper housing outside city limits.

The picture being painted in Charleroi is part of a much broader labor theme:

Great Replacement Job Shock: 1.3 Million Native-Born Americans Just Lost Their Jobs, Replaced By 635,000 Immigrants

How is this not the biggest political talking point right now: since October 2019, native-born US workers have lost 1.4 million jobs; over the same period foreign-born workers have gained 3 million jobs. pic.twitter.com/Z5HVWmQ24C
— zerohedge (@zerohedge) January 15, 2024

The individual said Haitians are being shuttled to and from the food packaging plants via a complex network of vans. There must be dozens and dozens of these vans, easily spotted while driving down city streets. Several of the vans had a logo with a sign that read ‘The Wellington Agency,’ a staffing company.

Several times during the ride-along with the individual, Haitian drivers nearly hit the vehicle. He noted that one local DMV worker posted on the town’s Facebook page about licenses being handed out to migrants like candy. He said migrants are sparking accidents all over town, which has led to a surge in insurance rates.

One of the biggest takeaways is that open southern borders and other ways to import migrants from third-world countries have not just been done for election purposes that favor Democrats but as a source of low-cost labor to mega-corporations as the great replacement of native-born workers with foreign-born workers plays out. Basically, the federal gov’t and corporate America are selling out blue-collar workers for cheap migrants.

Residents of Charleroi had no say in their beloved town, sold out by local, state, and federal politicians and possibly a network of taxpayer-funded NGOs who facilitated the migrant invasion. Corporate profits are certainly being prioritized over the native residents.

There was no mention of the Haitians eating dogs and cats, but there were numerous sightings of goat carcasses on a backroad that many in the town joked in a Facebook group: “Hide your goats.”

Here’s what the Charleroi residents are talking about on their private Facebook group:

The ride-along in Charleroi occurred on Sunday while factories were shuttered and the town was quiet.

https://youtube.com/watch?v=tb1A5hiU2OQ%3Fsi%3DjaK6KoxBAMFJvFz7

The biggest takeaway is that great replacement is ravaging American blue-collar households while the federal gov’t and their corporate overlords import the third world to the first world just to make more profits.

END

SPRINGFIELD,OHIO

Vance Stands By Pet-Eating Claims In Springfield, Says They’re From Firsthand Accounts

Monday, Sep 16, 2024 – 08:05 PM

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

Republican vice presidential candidate Sen. JD Vance (R-Ohio) said Sunday that he stands by claims that immigrants in Springfield, Ohio, have eaten pets.

During an interview on CNN, Vance was pressed on posts and statements he’s made on X about pet eating in the city, which has seen a surge of up to 20,000 Haitian immigrants in the past few years.

He said that the pet eating claims came “from firsthand accounts from my constituents.”

“The American media totally ignored this stuff until Donald Trump and I started talking about cat memes. If I have to create stories so that the American media actually pays attention to the suffering of the American people, then that’s what I’m going to do,” Vance told the outlet.

Responding to CNN’s questions about whether the allegations are false, Vance said, “We created the actual focus that allowed the American media to talk about this story.”

Over the past week, Vance and some conservative-leaning social media accounts have made memes on the topic including artificial intelligence-generated memes showing pets holding signs endorsing former President Donald Trump, who mentioned the allegations during last week’s debate with Vice President Kamala Harris.

The mayor of Springfield and Ohio Gov. Mike DeWine have repeatedly denied the reports, while the state’s attorney general said a police call confirmed the reports.

“I’d like to first say Springfield is still beautiful and your pets are safe in Springfield, Ohio. Safe,” Springfield Mayor Rob Rue said on NewsNation’s Chris Cuomo last week, adding that the pet-eating claims has created a “negative light” of the city.

“These claims are, they were just untrue. And we may mention that … we just don’t see reports of those,” Rue said of Trump’s remark.

On Sept. 11, Ohio Attorney General Dave Yost wrote in a post on X, “There’s a recorded police call from a witness who saw immigrants capturing geese for food in Springfield.”

He also noted that citizens testified to city council about incidents of Haitian migrants killing geese.

On Sunday, DeWine, who runs a charity in Haiti, defended the Haitians in Springfield by saying that many of them are not in the United States illegally.

“I think it’s unfortunate that this came up. Let me tell you what we do know, though. What we know is that the Haitians who are in Springfield are legal,” DeWine told ABC News. “They came to Springfield to work. Ohio is on the move, and Springfield has really made a great resurgence with a lot of companies coming in. These Haitians came in to work for these companies.”

“What the companies tell us is that they are very good workers,” he added. “They’re very happy to have them there, and frankly, that’s helped the economy. Now, are there problems connected? Well, sure. When you go from a population of 58,000 and add 15,000 people onto that, you’re going to have some challenges and some problems. And we’re addressing those.”

DeWine also said there are “legitimate problems” with the U.S. border and reiterated his support for Trump in the 2024 election.

Last week, the Trump campaign sought to highlight a police call made last month to a Clark County dispatcher about alleged geese-hunting in Springfield, although few details were provided. The Epoch Times could not independently verify the claims in the call and has contacted the sheriff’s department for comment.

Claims were also made during multiple Springfield town hall meetings by local residents.

“These Haitians are running into trash cans. They’re running into buildings. They’re flipping cars in the middle of the street, and I don’t know how like, y’all can be comfortable with this,” a resident, Anthony Harris, told city officials last month, although he did not provide any evidence or details. “They’re in the park, grabbing up ducks by the neck and cutting their heads off and eating them.”

Several bomb threats have also been made to various places across Springfield in recent days, including government buildings, hospitals, and schools.

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

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

end

END

FREIGHT ISSUES/USA/

Freight Spend, Shipments Soft Again In August

Tuesday, Sep 17, 2024 – 11:45 AM

By Todd Maiden of FreightWaves

August data from Cass Information Systems showed the freight market continues to trudge along what is expected to be a trough. Both shipments and freight spend stepped lower from year-ago levels.

Shipments captured by the Cass Freight Index fell 1.9% year over year in August, following a 1.1% y/y decline in July. The August result came in ahead of a projected decline of 3%.

“These were the smallest declines in 18 months as goods demand continues to grow slowly, and slowing capacity additions reduce the pressure on for-hire shipments,” the Monday report stated.

The volume dataset improved 1% seasonally adjusted from July, a second consecutive monthly increase (up 3.1% seasonally adjusted in July) but remained 12.3% lower than the 2022 level.

The shipments index is expected to be down 3% y/y in September and off 3% to 4% for all of 2024 after a 5.5% decline last year.

The update from Cass appears to be in line with comments from trucking heads at an investor conference held last week. Some of the nation’s largest truckload carriers like Schneider National and Werner Enterprises said the industry is still coming out of a protracted recession and that there has been no market inflection, just normal seasonal demand trends.

The expenditures index, which logs total freight spend, fell 9% y/y and 1.3% (seasonally adjusted) from July. The index was off 6.2% y/y last month, which was the smallest decline since the beginning of 2023. Compared to two years ago, total freight spend was off nearly 32% in the month.

The expenditures index was down 16% y/y in the first half of the year and is expected to be off 11% to 12% for the full year as the declines have eased.

Excluding the impact that lower shipments had on the expenditures data, “inferred freight rates” were down 7% y/y and 2% sequentially in August to “a new cycle low.” However, a 3% decline in diesel fuel prices from July to August (down 16% y/y) weighed on inferred rates during the month.

Inferred rates are expected to decline 8% y/y this year after a 14% decline last year.

The Cass Truckload Linehaul Index, which records core linehaul rates excluding changes in fuel and accessorial surcharges, declined 3.3% y/y in August and 0.6% sequentially. This was the fourth consecutive sequential decline as “overcapacity keeps bids highly competitive.”

The TL linehaul index includes both spot and contract freight.

“With spot rates steady over the past year, downward pressure on the larger contract market is lessening, but recent slight increases in spot rates are not yet enough to turn contract rates higher,” the report said.

Data used in the indexes is derived from freight bills paid by Cass, a provider of payment management solutions. Cass processes $38 billion in freight payables annually on behalf of customers.

*Chart: (*SONAR: NTIL.USA). The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. To learn more about FreightWaves SONAR, click here.

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

VDH

An Anatomy Of The Post-Debate Detritus

Monday, Sep 16, 2024 – 06:25 PM

Authored by Victor Davis Hanson,

After the September 10, 2024, presidential debate between Donald Trump and Kamala Harris, the Harris campaign became giddy.

And why not?

Pre-debate conventional wisdom had assured the country that underdog Harris would shock the nation with her endless wash/rinse/spin word salads of repeated phrases and memorized sound bites.

She supposedly would prove as shaky as Trump—the veteran of several presidential debates—would prove merciless in eviscerating her.

That did not happen. Post-debate polls of the first 24 hours showed clearly that the public felt Harris had won.

Why?

She stuck religiously to her pre-debate prep.

It was not difficult to anticipate what her tripartite script would be.

Joe Biden’s failed debate with Trump offered a model, along with the need to avoid Harris’s own known linguistic and cognitive liabilities:

One, Harris was told to bait the touchy Trump with smears and slights about his failed rallies, his racism, and his shaky businesses.

That way she could trigger him to lose his cool, go off-topic, rant, and turn off viewers.

And he did just that and often. Trump clearly did not prepare detailed answers, was not ready to be insulted, and was not reminded to relax—and smile, joke, and in Reaganesque fashion sluff off her certain slurs.

Two, she was not supposed to try thinking on her feet, no matter what the question asked.

Instead, Harris was always ordered to plug in her prepped and canned anecdotes, banalities, and bio-stories regardless of the topic or question. And she followed that off-topic boilerplate to spec.

Three, the campaign apparently knew they could rely on the moderators for four givens:

they were to fact-check Trump but never Harris. And they did that at least five times;
they were to demand follow-up answers from Trump to make him specifically answer the question addressed. And they did that numerous times, but not on a single occasion to Harris;
they were to ask Trump provocative questions to force him to deny that he was a racist, an insurrectionist, and an election denialist. But they were never to do so with Harris, whose many past outlandish statements, prevarications, flip-flops, and padded bio would have given the moderators similar rich fodder for cross-examination;
they would interrupt Trump to get him off tempo, but never Harris.

The result was that a cool, if not smug, Harris mostly smiled while an irate Trump scowled and raged.

Thus, to the millions who watched the slugfest, Harris seemed more “presidential” and therefore “won” the debate.

When the size of the huge television audience—some 67 million watched the debate—was announced, team Harris naturally assumed her win might bounce her even higher than did her initial July surge after the forced abdication of President Biden from the ticket.

But then strange post-debate developments followed…

Either a Tiny or No Bounce?

Harris did not receive the anticipated large bounce.

In fact, the polls still remain mostly even. She may have arrested Trump’s pre-debate surge a bit, but otherwise, a debate that polled so heavily in her favor oddly still seems to have made little difference in the still up-for-grabs race.

Stranger still, Harris, the supposedly clear winner, almost immediately asked for another debate. Her handlers suggested that this demand displayed newfound confidence from her win—as if an assured, second knockout debate would ensure her permanent pull away.

But Trump and others countered that it might have instead indicated the very opposite: that her pre-debate internal polls had shown the race was even or even had Trump leading and thus she still needed a second shot at derailing him, given her own team was not sure her single and transitory debate favorability would translate into any real lead.

The Debate Reset

Then in a day or two, other and far more significant realities emerged, resetting the debate—like a first date’s favorable first impression beginning to sour a day later upon further reflection.

As the debate clips were endlessly replayed on television, radio, and the blogosphere over the ensuing week, few, if any, favorable Harris soundbites popped up.

Harris, remember, was a veritable political unknown who was running a stealth campaign of media avoidance and running out the clock.

She had never really answered any questions addressed to her in the campaign. And in the debate, she presented her nothingness in confident fashion. But she ignored and snubbed both the toadish moderators and Trump at every turn.

Yet the public had tuned in only to receive just three answers from her that she had never previously offered them since her July anointment:

Why are you flipping—temporarily or permanently?—on almost every issue from your past positions?
If you are the candidate of change, why did you and President Biden as incumbents not make these changes the last three years—or at least promise now to make them in the next four months of your remaining tenures?
And what exactly will be your policies as president and the details of their proposed implementation?

Every time these questions in the debate were either stumbled upon by the moderators or demanded by Trump, Harris evaded by plugging in her memorized, smiley, and stonewalling non-answers.

Even leftist media outlets could not find video clips that would show a dominant Harris mastering any of these questions.

Furthermore, in the recycled visuals of the campaign, when Trump blustered and ranted, viewers now noticed that Harris had deliberately turned to him in scripted posturing. She pantomimed as if she were prepped by Hollywood actors—not just on memorizing canned trivialities but also giving fake moves and poses.

At times, Harris was a Rodin-like “Thinker,” looking contemplative with a strutting chin and propping it up with a closed hand. At times, with a wink-and-nod, she privately communicated to the audience their supposedly shared exasperation at her outrageous opponent. And at times she rolled her eyes, batted her eyelids, raised her eyebrows, and lip-synched her cynical disdain to 67 million viewers.

The net result?

The longer the debate was discussed, the more the far larger audience who had not watched the debate heard about it from friends or saw regurgitated media takes, so all the more the public came away thinking Harris was certainly slick and smooth, but otherwise empty, shallow, and smug.

And the more they saw clips of the scowling, snarling, and raving Trump, all the more they heard him blast an unresponsive Harris for the border, crime, the economy, and foreign policy—precisely the issues about which she was now failing to offer any of studied expertise.

The result was Trump, albeit in sometimes obnoxious fashion, reassured the country he could repeat what he did in 2017-21, while Harris confidently and professionally offered them little but sugary bios and platitudes.

Post Debate Meltdowns

After the debate, a now cocky Harris forgot her directions and thus only confirmed her pre-debate no-no’s. So, at a post-debate rally, the recidivist Harris reverted to what her handlers had told her was taboo: cackling and word salads.

In her first solo media interview in over 50 days with a preselected, left-wing local Philadelphia TV anchorman, Brian Taff, Harris actually plugged in her exact memorized debate riffs from a few nights earlier—even when they had nothing to do with the questions Taff asked.

When Harris realized that she could not answer a single one of his questions in the brief 10-minute softball interview, then, in deer-in-the-headlights fashion, she simply smiled, hand gestured, giggled, and sought refuge in her accustomed platitudes and circularities.

The net result was again reminding viewers of her debate inanity a few days earlier.

Yes, Harris has a good memory to recite prepped banalities and to bait and smear opponents while keeping cool with the help of moderators.

But otherwise, she shows no ability to think or speak on her feet—and zero knowledge of the key challenges facing any president.

The Immoderators

It was bad enough that the moderators intervened in the debate—and only on one side—to fact-check. But their fact-checks on at least three of their five occasions themselves needed to be fact-checked for mistakes, especially as the post-debate furor rose.

Moderator Linsey Davis went after Trump for his accurate claim that partial-birth abortions and the killing of a baby as it leaves the birth canal were legal.

Or as Ms. Fact-Checker arrogantly put it, “There is no state where it is legal in this country to kill a baby after it’s born.”

That was not true.

At least six states make no restrictions of any kind on abortion, and thus, admittedly, on rare occasions, infants can be terminated who leave the birth canal.

Protection to ensure that such deaths never happen was vetoed by Democrats in Congress. Worse still, Harris’s own running mate Tim Walz as governor stopped Minnesota state legislation that would have outlawed the killing of an infant delivered viable and alive during or after an abortion procedure.

The moderators also fact-checked Trump’s assertion that crime was higher under Biden Harris than during his tenure and his allegation that many large cities do not fully or timely report crime statistics to federal tabulators.

Yet Trump was right on both counts. And only days later, the nation was reminded of just that when the Biden-Harris Department of Justice released recent crime statistics showing crime is still elevated—and still quite higher than when Biden-Harris took office.

The post-debate outrage further increased. It was further remembered that the two fact-checkers sat mum while Harris spun her own whoppers: that no military personnel were posted abroad in combat zones (just ask those often attacked in bases in Syria and Iraq, in Africa, or on patrol in the Red Sea).

And the two partisans kept silent when Harris repeated the long-ago fact-checked lies about Charlotteville, “bloodbath,” Project 2025, and Trump’s supposed support for a federal abortion ban.

Journalists after the debate tried to rescue Harris by jumping on Trump for other supposed lies, such as alleging Harris had supported government-provided transgendered conversion treatments for illegal aliens and prisoners. But then, post-debate, Harris’s own prior written endorsements for just that appeared.

While Harris’s campaign and liberal influencers were claiming that the moderators were not fact-checkers, one of the two, Linsey Davis, admitted she was not only a proud fact-checker, but along with her co-moderator David Muir had become one.

The reason was because of ABC’s desire to not let Trump supposedly promulgate falsehoods as he had in Joe Biden’s disastrous and career-ending June debate.

ABC apparently felt the earlier CNN moderators on that occasion were seen as too neutral and that being disinterested was a bad thing. Instead, in the Muir/Davis warped view, Biden lost that debate not because of his visible dementia but supposedly due to Trump’s exaggerations (which Biden himself matched if not exceeded).

In other words, Davis inadvertently admitted that after Democratic nominee Biden had crashed his career in a debate with Trump, ABC would now correct CNN’s supposed laxity in being too disinterested.

So, ABC’s moderators would become actively involved in the debate—and did so as the debate postmortem showed in clear partisan fashion.

Translated? One could take the Davis confession to mean the Democratic-Media fusion lost one debate by playing by traditional debate rules of moderator non-interference – and learned from that loss never to be so fair again.

Debate Incest?

The post-debate detritus mounted.

Senior Disney executive Dana Walden—who helps oversee ABC—is known as one of Harris’s “extraordinary friends” and, as reported, has been for at least 30 years. Their respective husbands have been close pals for even longer. Walden has been a steady contributor to Harris’s state and federal campaigns for over twenty years.

And it was disclosed that Harris and moderator Davis were national sorority sisters, a connection that sounded terrible, but after a fair debate, no one would have known what to make of it.

So, in normal times, no one would have noticed these conflicts of interest. After all, in the incestuous corporate/politics/media ecosystem of the bicoastal left, everyone either went to school, knows, does business with and profits from, dates, or is married to everyone else.

But given the clear bias of ABC in the post-debate environment, these relationships only further tainted the debate’s credibility.

Prairie-fire Madness

As the embarrassments of Harris’s debate and her post-debate evasions became better known, the moderators’ bias more fully exposed, the incest of ABC aired, and the lack of a debate “victory” bounce acknowledged, the irate right-wing blogosphere struck back.

On the rationale that if the left-wing network had “rigged” the debate and the moderators tipped the scales, then it too would reply in like kind. The result was a barrage of post-debate rumors, conspiracies, and false revelations—the discredited fact-checkers be damned.

Within days, fables floated by bloggers and often Trump himself that Harris was wearing high-tech receiver-earrings to facilitate stealthy prompts and directions from her off-stage handlers. Other rumors spread that her calmness was only a symptom that she had been given the debate questions in advance, or so an anonymous source claimed. Trump and his supporters then insisted that he was widely recognized by the public as the “winner” of the debate.

No evidence has yet emerged to prove any of these allegations.

Harris was likely wearing earrings that only remotely looked like a brand that doubles as a receiver.

There is no proof, at least yet from ABC or the Harris campaign, that Harris, in Donna Brazile/Hillary Clinton/CNN fashion of old, had received either the topics or the general outlines of the debate questions in advance.

And the polls uniformly really did show that Trump was felt by the public to have lost the debate—even though Harris had not really profited much from it.

But what was missed by the left’s outrage over the swirling rumors of conspiracies was that its own behavior had seeded such hysterias.

When moderators are not just biased but proudly explain why they are biased, and when such favoritism does demonstrably warp a presidential debate, then those on their receiving end naturally fire back with conspiracies of their own.

An interesting question arises over which is worse: the founded and proven conspiracy of the moderators in undisclosed but preplanned determination to hammer only Trump, or the frenzied reaction to believe fables consistent with the demonstrable bias of ABC and its moderators’ intention to warp the debate?

The Way Not Forward?

What is the result of this debate mess?

No sane conservative will or should ever do another national debate on any ABC venue.

If they were wise, Republicans should never agree to any televised debate moderated by ABC, NBC, CBS, MSNBC, CNBC, PBS, NPR, or CNN again, given the history of liberal moderator bias. The names of Donna Brazile, Candy Crowley, David Muir, and Linsey Davis should serve as sufficient warnings.

If the presidential candidates still insist on debating their opponents, they then should agree only to the classical rules of debating—and with only mute timekeepers present instead of loud-mouth, egocentric moderators in the following fashion:

An opening 5-minute statement;
A 3-minute rebuttal of opponent’s similar statement;
A 2-minute rebuttal of the rebuttal;
All to be repeated over eight or nine topics in a 90-minute debate, with mouth-shut timekeepers keeping each candidate within his time limits.

So, no more of these televised travesties, even when, as in this case, they boomerang on their fixers.

END

TUCKER CARLSON…..

“Throw Society Into Chaos” – Tucker Outlines Dem Plan As Harris ‘Honeymoon’ Fades

Monday, Sep 16, 2024 – 06:00 PM

Tucker Carlson said the quiet part out loud in a brief comment last last week. Uncomfortable truths about the “party of democracy”…

“If they think that there’s a chance that Trump could win decisively enough in November that they can’t steal it, then I think their only option there is to in some way throw the society into chaos as they did during COVID which was the pretext for changing the way we vote and letting people vote anonymously without IDs and drop boxes and a month before the election.”

We all know what happened then (and we, the people, acquiesced so quickly):

“They completely changed everything allowing Mark Zuckerberg to spend $400 million to control the mechanics of the election. That would not have been allowed except under a state of national emergency provided them by the virus they created in a lab in Wuhan, COVID.”

So, given what they have shown themselves capable of, who can really argue they would not do it (or worse) again:

“It’s pretty simple. If they feel like they’re gonna lose we will have some kind of crisis. I think it’s most likely to be a war with Iran which they want anyway, but who knows.”

Watch the full comment by Tucker Carlson below:

Tucker Carlson: "If they think that there's a chance that Trump could win decisively enough in November that they can't steal it, then I think their only option there is to in some way throw the society into chaos as they did during COVID which was the pretext for changing the… pic.twitter.com/e3mAkQPo8T
— Camus (@newstart_2024) September 14, 2024

SWAMP STORIES

ROBERT H:

Josh Hawley on X: “

NEW – Following the latest assassination attempt on ⁦⁦@realDonaldTrump⁩, I’m releasing a comprehensive Whistleblower Report on the multiple failures of Secret Service & DHS – including new allegations & numerous unanswered questions due to USSS stonewalling https://t.co/Rxcim9N05U” / X

No surprise.

🚨🚨 NEW – Following the latest assassination attempt on ⁦⁦@realDonaldTrump⁩, I’m releasing a comprehensive Whistleblower Report on the multiple failures of Secret Service & DHS – including new allegations & numerous unanswered questions due to USSS stonewalling pic.twitter.com/Rxcim9N05U
— Josh Hawley (@HawleyMO) September 16, 2024

Bombshell Whistleblower Report Exposes Major Security Failures In First Trump Assassination Attempt

Tuesday, Sep 17, 2024 – 10:45 AM

With Donald Trump now the target of two assassination attempts in two months, a new whistleblower report released by Senator Josh Hawley (R-MO) has unveiled a series of alarming security lapses by the U.S. Secret Service (USSS) and other federal agencies during the attempt at a rally in Butler, Pennsylvania, on July 13, 2024.

The report, based on information provided by multiple whistleblowers, highlights a pattern of incompetence, mismanagement, and inadequate preparation by the agencies responsible for safeguarding one of the most high-profile figures in American politics.

The report reveals that systemic failures, poor decision-making, and a lack of proper resource allocation within the Secret Service contributed to what is being described as a near-catastrophic breach of presidential security. These findings have sparked a call for urgent oversight and reform of the agency, raising serious questions about its ability to protect national leaders.

Gaps in Security Protocols and Poor Decision-Making

Among the most critical allegations in the whistleblower report is the Secret Service’s decision not to conduct a standard evaluation of the rally site. The Counter Surveillance Division, tasked with identifying potential threats, was notably absent during the event. This failure was compounded by the fact that the Secret Service reportedly declined multiple offers from local law enforcement to employ drone surveillance technology at the rally. The decision was particularly consequential, given that the would-be assassin himself used a drone to conduct surveillance of the rally site hours before launching his attack.

In a striking lapse, law enforcement personnel abandoned a rooftop surveillance position due to hot weather conditions. This rooftop was subsequently used by the shooter to fire shots during the rally, nearly succeeding in his assassination attempt. The report suggests that a significant security breakdown occurred because of a lack of counter sniper coverage and the absence of a coordinated response.

What’s more, the lead Secret Service agent responsible for site security during the rally was also flagged for a history of incompetence. This agent, who had previously been cited for failing to follow established security protocols, was nonetheless placed in charge of protecting the former president. The report raises questions about how and why this individual was entrusted with such a critical role.

Whistleblowers told me that the lead site agent at the Butler rally was someone who wasn't trusted by other Secret Service agents and didn't know what she was doing.

Why are these people running security for a former President and a major party nominee? pic.twitter.com/FPxPGA8yGM
— Josh Hawley (@HawleyMO) September 16, 2024

Resource Denial and Inadequate Training

According to whistleblowers, agents on the ground were discouraged from requesting additional security resources, with explicit instructions that such requests would be denied. This led to a situation where those responsible for protecting the former president were left under-resourced and vulnerable. The rally itself was reportedly covered by Department of Homeland Security (DHS) agents who were reassigned from other duties, such as child exploitation cases, with only a two-hour webinar as preparation. Such minimal training, the report claims, was grossly inadequate for the complexities of protecting a high-profile target like Trump.

The whistleblowers further allege that the Secret Service’s Counter Surveillance Division faced significant cuts in both funding and personnel. These reductions were purportedly directed by Acting Director Rowe, who has yet to respond publicly to these claims. These resource cuts, whistleblowers argue, directly impacted the agency’s ability to maintain the level of vigilance needed to thwart potential threats.

Internal Concerns and Allegations of Retaliation

The report also raises concerns about internal culture and leadership within the Secret Service, suggesting that agents who voiced concerns over security protocols were either ignored or faced retaliation. Some whistleblowers allege that they were subject to pressure or threatened with career repercussions if they raised alarms about inadequate security measures. This internal atmosphere, as depicted in the report, could have contributed to a chilling effect, discouraging agents from advocating for necessary precautions.

Following the attempted assassination, several high-level Secret Service officials were reportedly “encouraged to retire,” a move viewed by critics as an attempt to avoid deeper scrutiny and congressional oversight. This, the report suggests, points to a culture of evasion rather than accountability within the agency.

The whistleblower report highlights the slow response of executive agencies to the inquiries made by lawmakers. Senator Hawley’s office noted that while they had asked for clarifications from both the Secret Service and DHS, the responses have been delayed and lacking in detail. Notably, none of the agencies have outright denied the whistleblower allegations, which has only fueled further concern over the veracity of the claims.

Hawley emphasized the need for a comprehensive investigation and reforms, stating, “These failures expose significant vulnerabilities in our nation’s security apparatus that cannot be ignored. It is imperative that we hold those responsible to account and implement immediate changes to prevent such a failure from happening again.”

Several questions remain unanswered. For instance, why were critical security measures, such as rooftop surveillance and counter-sniper coverage, not enforced? Who within the Secret Service or DHS was responsible for denying requests for additional security resources? And what was the motive behind the assassination attempt, given the assassin’s use of encrypted communications?

Moreover, the report points to broader implications for U.S. security policy. In the wake of the assassination attempt, there is growing pressure on both Congress and the Biden administration to undertake sweeping reforms of the Secret Service. This would likely include revisiting funding levels, personnel training, and perhaps most critically, ensuring a culture of accountability within the agency.

The Biden administration has so far not commented directly on the findings of the whistleblower report. However, lawmakers from both parties are expected to press for further hearings and investigations into the matter.

A Call for Whistleblower Protections and Further Reforms

Hawley has promised protections for any new whistleblowers who provide additional information on the Secret Service’s failures. “We cannot afford to sweep these issues under the rug,” he said. “The American people deserve a transparent and accountable government, and that starts with a thorough investigation into these alarming revelations.”

END

“All Been Hoaxes” – Ohio Governor Debunks Claims Of Bomb Threats Against Haitians

by Tyler Durden

Tuesday, Sep 17, 2024 – 09:30 AM

Authored by Luis Cornelio via HeadlineUSA.com,

Remember the claims that Haitian nationals in Springfield, Ohio were facing bomb threats due to national scrutiny over rampant illegal immigration? It turns out it was all a hoax.

Ohio Gov. Mike DeWine announced Monday that the state has received zero credible bomb threats against schools in Springfield—the same community affected by 20,000 Haitian nationals paroled into the U.S. by the Biden-Harris administration.

“These threats have all been hoaxes, none of them have panned out,” DeWine said during a press conference with law enforcement officials on Monday.

“We have people unfortunately overseas, who are taking these actions,” the Republican governor added.

“Some of them are coming from one particular country. We think that this is one more opportunity to mess with the United States and they’re continuing to do that.”

Ohio Gov. Mike DeWine says there were 33 bomb threats against Springfield schools that all turned out to be hoaxes and originated from "overseas."

Where do President Trump and JD Vance go to get their apology from the media who claimed they incited them? pic.twitter.com/NKyhUJZwrz
— Trump War Room (@TrumpWarRoom) September 16, 2024

DeWine said that state law enforcement officials will continue to patrol schools to ensure parents feel safe even in the light of non-credible threats.

DeWine’s comments debunked conspiracy theories spread by the legacy media in the aftermath of national criticism over the arrival of foreign nationals under the current administration.

NBC News anchor Lester Holt and correspondent Maggie Vespa suggested on Sunday that comments from Trump and Sen. JD Vance against Haitian nationals led to the bomb threats.

Neither Vespa nor Holt immediately responded to Headline USA’s email request for comment on Monday evening. The inquiries focused on whether they intended to issue an apology to Trump or Vance or to provide a correction to NBC News viewers.

Independent journalist Nick Sortor confronted Vespa directly for spreading unsubstantiated claims about threats against Haitian nationals.

Video footage of the confrontation has since gone viral on X, garnering over 6 million views.

🚨 INSANE: NBC’s Lester Holt just blamed President Trump for the attempt on his life, saying it was due to his rhetoric on the illegal migrant crisis in Springfield

SERIOUSLY?

Who the HELL is buying this crap? pic.twitter.com/Otb7Lc1hB9
— Nick Sortor (@nicksortor) September 16, 2024

Finally, Tom Elliott explains how these lies are perpetuated by the Dem/MSM complex…

How the fake news sausage is made:

1) Trump/Vance highlight stories embarrassing to Kamala Harris
2) Anonymous bomb threats/KKK flyers mysteriously appear, undermining Trump/Vance
3) Media flood the zone
4) Bomb threats revealed as foreign hoax (likely orchestrated by… pic.twitter.com/7JDQMogOHu
— Tom Elliott (@tomselliott) September 17, 2024

KING REPORT

The King Report September 17, 2024 Issue 7328

Independent View of the News

The clamoring and hectoring for a 50bp rate cut intensified on Monday. Dem Sen. Liz Warren sent a letter to Powell asking for a 75bp rate cut.

Democratic Senators Call on Fed to Cut Rates by 75 Basis Points
“If the Fed is too cautious in cutting rates, it would needlessly risk our economy heading towards a recession,” Sens. Elizabeth Warren, Sheldon Whitehouse and John Hickenlooper said in a letter sent Monday to Powell. “The Committee must consider implementing rate cuts more aggressively upfront to mitigate potential risks to the labor market.”… “It is clearly the time for the Fed to cut rates,” the senators wrote. “In fact, it may be too late: Your delays have threatened the economy and left the Fed behind the curve.”… (And Trump is gaining in the polls!)
https://www.bnnbloomberg.ca/investing/2024/09/16/democratic-senators-call-on-fed-to-cut-rates-by-75-basis-points/

iPhone 16 first weekend pre-order analysis: estimated total sales of about 37 million units (-12.7% y/y); Pro series demand lower than expected
https://medium.com/@mingchikuo/iphone-16-first-weekend-pre-order-analysis-estimated-total-sales-of-about-37-million-units-pro-0a04869b147c

Apple pulled Fangs lower and inhibited the Expiry and Fed Week Rallies.

ESZs (‘Z’, December is now the front month) vacillated between moderate gains and losses from the Nikkei opening until they broke higher near 4 ET. ESZs hit 5699.25 at 5:12 ET and then sank to 5679.00 at 9:34 ET. Someone then manipulated ESZs to a daily high of 5700.50 at 9:55 ET. When the ‘big number’ could not be breached, astute traders knew it was time to cut loose. ESZs sank to a new daily low of 5669.50 at 10:34 ET. ESZs then gyrated with a modest upward bias.

The afternoon rally took ESZs to 5697.25 at 14:35 ET. ESZs then vacillated in upward channel until the late manipulation pushed ESZs to 5702.75 at 15:58 ET. ESZs slid to 5697.25 at the NYSE close.

Positive aspects of previous session
The DJIA (record high) and DJIA rallied sharply due to Fed Week and Expiry Week upward bias
Bonds rallied 16/32

Negative aspects of previous session
Gasoline, oil, and industrial commodities rallied sharply; the dollar sank; the yen/$ hit 139.58
Apple’s disappointing iPhone 16 sales weighed on Fangs and Nasdaq

Ambiguous aspects of previous session
How high will the yen/$ go before intervention appears?

First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5624.56
Previous session S&P 500 Index High/Low: 5636.05; 5604.53

@Travis_4_Trump: According to the Secret Service, the golf course wasn’t secured because Trump isn’t a sitting President. Here’s former President Obama’s golf course in Martha’s Vineyard. Secret Service inspects every vehicle they even drives near the course. https://x.com/Travis_4_Trump/status/1835431010248307185

Microsoft Boosts Dividend 1-%, Sets Up $60B Buyback Program – BBG 17:58 ET

Today – The upward bias for Fed Week and Expiry Week should continue. Apple upset the Fang cart on Monday. Usually, Fangs and related trading sardines are the preferred vehicles to squeeze for Expiry Week. Today is the last trading day for September VIX options. Wednesday is settlement. Ergo, be alert for chicanery into the 14:15 ET VIX Fix and then a reversal. MSFT rallied only 0.73% on buyback news.

Expected Economic Data: Sug Retail Sales -0.2% m/m, Ex-Autos +0.2%, Ex-Autos & Gas 0.3%; Aug Industrial Production 0.2% m/m, Mfg. Production 0.2%, Capacity Utilization 77.9%; Sept NAHB Housing Market Index 40; 2-Day FOMC begins.

NQZs are -8.50; ESZs are -6.00; the Yen/$ is 140.63; and USZs are +2/32 at 20:40 ET.
S&P Index 50-day MA: 5512; 100-day MA: 5411; 150-day MA: 5314; 200-day MA: 5178
DJIA 50-day MA: 40,422; 100-day MA: 39,693; 150-day MA: 39,397; 200-day MA: 38,915
(Green is positive slope; Red is negative slope)

S&P 500 Index (5633.09 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 5439.31 triggers a sell signal
Hourly: Trender is positive; MACD is negative – a close below 5599.78 triggers a sell signal

Trump was somewhat magnanimous after the first assassination attempt on his life. He’s now livid.

Trump blames Biden-Harris ‘rhetoric’ for latest assassination attempt, says he will ‘save the country’ – Democrats have previously blamed Trump for… being a ‘threat to democracy’
    “He believed the rhetoric of Biden and Harris, and he acted on it,” Trump said of the gunman… “Their rhetoric is causing me to be shot at, when I am the one who is going to save the country, and they are the ones that are destroying the country — both from the inside and out.”…
    “They do it with a combination of rhetoric and lawsuits they wrap me up in,” Trump said. “These are the things that dangerous fools, like the shooter, listen to — that is the rhetoric they listen to, and the same with the first one.”… “The media is made up of fools that will spew [Democrats’] garbage and spew their sick philosophies and will protect them at all costs, and they can’t believe they get away with it,” Trump said. “Democrats are totally protected by the media.”
    Trump said the debate on ABC News last week “was so biased and so out of control.”… “They use highly inflammatory language,” he said. “I can use it too — far better than they can — but I don’t.”
https://www.foxnews.com/politics/trump-blames-biden-harris-rhetoric-latest-assassination-attempt-says-he-save-country

@TrumpWarRoom: Kamala Harris has consistently called President Trump a “dictator” and “a threat to democracy.” Make no mistake: it’s Kamala and the Democrats who are the party of violence.
https://x.com/TrumpWarRoom/status/1835709557307220128
   REMINDER: Just a few weeks after the first assassination attempt on President Trump, Tampon Tim said that he is a “threat to democracy” and a “fascist” who will “put people’s lives in danger.”
https://x.com/TrumpWarRoom/status/1835709648869150935

@JoeBiden: Donald Trump and MAGA Republicans are a threat to the very soul of this country.
https://x.com/DavidSacks/status/1835741874935799939/photo/1

“What is the greatest national security threat to the United States! It’s Donald Trump!” – Kamala Harris https://x.com/CortesSteve/status/1835740891858014515

Critics resurrect TV clip to accuse Kamala Harris of joking about killing Trump: ‘Orders received’ https://trib.al/s3v98Em

@EndWokeness: FBI expert tells CNN that the plot against Trump was likely inspired by the media: “Incited by Trump-HitIer comparisons” https://t.co/pZTkXGNieI

@TrumpWarRoom: Democrats’ rhetoric inspired another attempt on President Trump’s life. In case they forgot, we made a list:   https://x.com/TrumpWarRoom/status/1835760884368670950

@nicksortor: President Trump dropped a FIRE new ad, showing the times leftists have used violent rhetoric against him inspiring attempts on his life. (Includes Joe stating he want to “take him behind the gym and beat the hell out of him.”)  https://x.com/nicksortor/status/1835763816979673208

Biden on Monday in Philly, PA: “I’ve always condemned political violence. I always will.”

@themarketswork: The hypocrisy from the left is limitless. Demonize Trump. Call him Hitler. Tell their followers Trump must be stopped “by any means necessary.” When something happens, they self-righteously state there’s no place for violence. And claim Trump brought the violence upon himself.

Reckless rhetoric from Dems and media to blame for second Trump assassination attempt
Last week Kamala Harris falsely accused Trump of calling Nazis “fine people”, promising a “bloodbath,” and being responsible for “the worst attack on our democracy since the Civil War.” She and Biden and surrogates constantly exaggerate the J6 Capitol riot and use it to frame Trump as a “threat to democracy.”… Joe Biden has labeled Trump and “MAGA Republicans” as “semi-fascists” and domestic terrorists.
    Tim Walz called Trump a “fascist” and “threat to Democracy” who will “put people’s lives in danger.”  On Saturday Democratic Senator Chris Murphy described Trump as “a candidate explicitly running on the promise of political violence.”…
https://nypost.com/2024/09/15/opinion/reckless-rhetoric-from-dems-and-media-to-blame-for-second-trump-assassination-attempt/

@JayneZirkle: Solomon: The Democrats Vitriolic Character Assassination Campaign Led to The 2 Attempts To Take Trump’s Life @jsolomonReports https://x.com/JayneZirkle/status/1835724539210199134

DJT advisor @StephenM: Kamala must step before a camera immediately and disavow her party’s and her own inflammatory rhetoric of incitement against President Trump. She must tell her followers he is NOT a threat to democracy, he is not a dictator, and tell anyone who is planning violence to stand down.

@TrumpWarRoom: Top Kamala surrogate Stacey Plaskett: “[Trump] needs to be shot— stopped.”
https://x.com/TrumpWarRoom/status/1835766204771778817

By midday on Monday, Team Obama-Harris called on lid on Harris.

@realDonaldTrump on Monday: The Rhetoric, Lies, as exemplified by the false statements made by Comrade Kamala Harris during the rigged and highly partisan ABC Debate, and all of the ridiculous lawsuits specifically designed to inflict damage on Joe’s, then Kamala’s, Political Opponent, ME, has taken politics in our Country to a whole new level of Hatred, Abuse, and Distrust. Because of this Communist Left Rhetoric, the bullets are flying, and it will only get worse! Allowing millions of people, from places unknown, to INVADE and take over our Country, is an unpardonable sin…

@greg_price11: Martin County (FL) Sheriff: “[The shooter] is not from this area, which raises the bigger question: How does a guy from not here get all the way to Trump International, realize that the president, former president of the United States is golfing and is able to get a rifle in that vicinity? I think that’s the question the FBI, the Secret Service are laser-focused on today: Is this guy part of a conspiracy?”   https://x.com/greg_price11/status/1835713416503157212

@paulsperry_: The would-be Trump assassin #2 told the court he has no assets and lives off $3,000 a month while supporting a son as a roofer, yet he’s finding $$ to travel back and forth to Oahu AND to Ukraine as a mercenary while amassing a small arsenal of weapons plus GoPro equipment. Hmm.

Accused Trump gunman Ryan Wesley Routh hid in sniper’s nest for nearly 12 hours before he was spotted by Secret Service – Ny Post

Alleged Trump gunman Ryan Wesley Routh busted with bomb during 2002 police standoff https://trib.al/QYlffoE

Alleged Trump gunman Ryan Wesley Routh was rejected as ‘wack job’ when tried to volunteer for Ukraine, fighters say https://trib.al/EUPphTg

@TrumpWarRoom: FLASHBACK TO JUNE: Disgraced former Harris staffer @TDucklo calls President Trump an “existential, urgent threat to democracy.” There have now been two assassination attempts in as many months against President Trump. https://t.co/AFjqw6iKCg

@ArthurSchwartz: Democrat congressman Dan Goldman: President Trump “is destructive to our democracy . . . and he has to be, he has to be eliminated.” (2023) https://t.co/zBhnm4Pwe7

Victor Davis Hanson: The Deadly ‘Get Trump’ Climate Continues
These serial assassination attempts, unfortunately, occur in a weary context of Russian collusion, laptop disinformation, state ballot removal, and lawfare. And they are starting to reflect a larger environment of justifying extralegal means to achieve the ends of ending Trump’s presidency and later reelection by any means necessary… And can we just stop with the demonizing of Trump as a “Hitler/fascist/bloodbath/weasel/dictator” that must be stopped…
https://www.dailysignal.com/2024/09/16/deadly-get-trump-climate-continues/

@TheBabylonBee: Democrats Accuse Trump of Inciting Further Violence by Not Dying

CNN, citing sources said Trump’s Sunday golf outing at his Trump International Golf Club was a last-minute decision. How did Routh know?  https://x.com/nicksortor/status/1835550283067215922/photo/1

Trump assassination task force member: ‘No way in hell’ Palm Beach suspect should have been that close https://t.co/Qm7vR8ik8M

@AP: Man accused of trying to kill Trump wrote a book urging Iran to assassinate the ex-president https://t.co/1Ma3sfG9kr

@libsoftiktok: Here’s the would-be ass*ssin with Jose Andres. Jose was appointed by Biden to serve on the Council on Sports, Fitness, and Nutrition. https://t.co/WOhZvNd92a

Elon Musk deletes his X post about ‘no one’ trying to kill Kamala Harris after latest Trump assassination attempt https://trib.al/MpA1ydD

Team Obama-Harris told their media allies that they were running on abortion and demonizing Trump.
If Team Obama-Harris cannot demonize Trump, they have only abortion!
FBI was tipped off in 2019 about suspected Trump gunman Ryan Wesley Routh owning firearm as a felon: officials – The agency was not able to verify the claims against Routh… https://trib.al/qkVgEOt

Several regime media outlets are trying to blame Trump for the assassination attempt on him, citing his violent rhetoric. ‘They’ must really fear DJT.

@CurtisHouck: NBC’s Lester Holt: “Today’s apparent assassination attempt comes amid increasingly fierce rhetoric on the campaign trail. Mr. Trump, his running mate JD Vance continue to make baseless claims about Haitian immigrants” in Springfield, Ohio, resulting in bomb threats.
https://x.com/CurtisHouck/status/1835449928136462361
    GOP Sen. @HawleyMO: Wait a minute – so TRUMP is responsible for the people trying to kill him? Are you insane?
    @seanmdav: Lester Holt is trash who should be taken off the air for this. Trump has nearly been assassinated twice now, and regime media—who are deliberately inciting the violence—have decided it’s Trump’s fault that deranged Democrats keep trying to murder him.

The Cincinnati Enquirer: @Enquirer: Opinion: Trump brings these assassination attempts on himself
https://www.cincinnati.com/story/opinion/letters/2024/09/16/trump-shots-fired-attempted-assassination-lies-rhetoric/75246483007/

NBC News: Ryan Routh in custody after Trump golf club incident (Incident?)
https://x.com/HansMahncke/status/1835501041783017848/photo/1

@ClayTravis: The man who tried to kill Trump… Tweeted democracy was on the ballot and we can’t afford to fail. Then he tried to kill Trump. He was directly motivated by the claims of Joe Biden and Kamala Harris to kill Trump. https://x.com/ClayTravis/status/1835454709307699567

Wife of Trump impeachment witness (Vindman) downplays assassination attempt: ‘No ears were harmed’ https://trib.al/ml4GkMF

@TrumpWarRoom: Ohio Gov. Mike DeWine says there were 33 bomb threats against Springfield schools that all turned out to be hoaxes and originated from “overseas.” Where do President Trump and JD Vance go to get their apology from the media who claimed they incited them?
https://x.com/TrumpWarRoom/status/1835777287137927498

@JonathanTurley: The case against Abbe Lowell (Hunter’s atty) will trigger massive fights over attorney-client privilege. However, if allowed significant discovery, the IRS whistleblowers may shed light on the media reports of a scorched Earth strategy targeting critics and witnesses. https://t.co/oiwvsZfiGk

GREG HUNTER

SEE YOU ON WEDNESDAY//