GOLD PRICE CLOSED UP$32.10 TO $2621.00

SILVER PRICE UP $0,08 TO $31,18

Gold ACCESS CLOSED $2620.70

Silver ACCESS CLOSED: $31.12

Bitcoin morning price:$63,500 DOWN 93 DOLLARS.

Bitcoin: afternoon price: $62,962 DOWN 631DOLLARS

Platinum price closing DOWN$19.95TO $953,20

Palladium price; UP 31,95TO $1095,30

END

*CANADIAN GOLD: $3555.50 UP 46.50CDN dollars per oz( * NEW ALL TIME HIGH 3,555.50CDN DOLLARS PER OZ//SEPT 20 2024)

*BRITISH GOLD: 1,967,93UP 19.93Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1967.93RITISH POUNDS/OZ) SEPT 20/2024

*EURO GOLD: 2,348.20UP 29.86 Euros per oz //* (ALL TIME CLOSING HIGH: 2.348,20UROS PER OZ//SEPT 20//.2024)

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EXCHANGE: COMEX

ACCESS MARKET

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,588.000000000 USD
INTENT DATE: 09/19/2024 DELIVERY DATE: 09/23/2024
FIRM ORG FIRM NAME ISSUED STOPPED

363 H WELLS FARGO SEC 24
435 H SCOTIA CAPITAL 2
624 H BOFA SECURITIES 8
657 C MORGAN STANLEY 14
661 C JP MORGAN 25
686 C STONEX FINANCIA 1
737 C ADVANTAGE 6 11
905 C ADM 3

TOTAL: 47 47
MONTH TO DATE: 4,079

JPMorgan stopped 25/47

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2024. CONTRACT: 47 NOTICES FOR 4700 OZ or 0.1462 TONNES

total notices so far: 4073 contracts for 407,300 Oz (12.668 tonnes)

FOR SEPT:

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

total number of notices filed so far this month : 5,018 for 25.090 million oz

XXXXXXXXXXXXXXXXXX

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GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD UP $32,10 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1,73 TONNES OF GOLD INTO THE GLD//

/ /INVENTORY RESTS AT 873.96TONNES

INVENTORY RESTS AT 873.96 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP 08 CENTS AT THE SLV

NO CHANGES IN SILVER INVENTORY AT THE SLV:

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 459.619 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A GOOD SIZED 367 CONTRACTS TO 140,761 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR HUGE GAIN OF $0.89 IN SILVER PRICING AT THE COMEX ON THURSDAY’S TRADING. WE LOST ZERO NET LONGS WITH THE GAIN IN PRICE. WE HAD A HUGE GAIN OF 788 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS ESPECIALLY DURING THURSDAY’S AFTERNOON ACCESS TRADING//. WE HAD ATTEMPTED SHORT COVERING BY OUR SPECS WITH THE SMALL LOSS IN PRICE DURING THE COMEX ACCESS HOURS AND ONCE AGAIN, A MASSIVE FAILURE IN EXECUTION.. WE HAD A HUGE 1155 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A STRONG 556 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED A HUGE 788 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 THURSDAY NIGHT: 556 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 $0.89) AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUGE GAIN OF 788 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES.

WE HAD A HUMONGOUS 1155 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 85,000 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 25.305MILLION OZ

//NEW STANDING FOR SILVER//SEPT ADVANCES TO 25.220 MILLION OZ

WE HAD:

/ SMALL SIZED COMEX OI LOSS//HUGE SIZED EFP ISSUANCE/ VI) STRONG SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 556 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 254 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 14 DAYS, total 14,577 contracts: OR 72.885 MILLION OZ (1041 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 72.885 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 BE STRONG FOR ISSUANCE BUT LESS THAN JULY.

SEPT: 72.885 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

RESULT: WE HAD A GOOD SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 367 CONTRACTS DESPITE OUR HUGE GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS:1155 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 85,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR SEPT ADVANCES TO 25.305 MILLION OZ

WE HAVE A HUGE GAIN OF 788 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 556 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX//ACCESS TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS WITH THE GAIN IN PRICE THURSDAY/ AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS.

THE NEW TAS ISSUANCE THURSDAY NIGHT (556) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND FOR SURE TODAY., .

WE HAD 21 NOTICE(S) FILED TODAY FOR 105,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A SMALL SIZED 563 OI CONTRACTS TO 538,832 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 7064 CONTRACTS//

WE HAD A SMALL SIZED INCREASE IN COMEX OI (563 CONTRACTS) OCCURRED WITH OUR GAIN OF $17.05 IN PRICE /THURSDAY. 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 THURSDAYS HUGE 3500 OZ QUEUE JUMP

NEW STANDING ADVANCES TO 12.837 TONNES

/ ALL OF THIS HAPPENED WITH OUR $17.05 GAIN N PRICE WITH RESPECT TO THURSDAY’S COMEX TRADING. ALTHOUGH WE HAD A CONSIDERABLE TEMPORARY LOSS IN PRICE IN ACCESS TRADING/THURSDAY AFTERNOON,WE HAD A HUGE SIZED GAIN OF 12,352 OI CONTRACTS (38.41 PAPER TONNES) ON OUR TWO EXCHANGES, WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK. THE HORROR INTENSIFIED ONCE LONDON STARTED TO TRADE EARLY FRIDAY MORNING AS WE ARE BEGINNING TO SIT SHIVA FOR OUR CROOKED SHORTERS ONCE THEY SEE THE HUGE RISE IN PRICE MUCH AGAINST THEIR WISHES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUMONGOUS SIZED 4735 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 545,896

IN ESSENCE WE HAVE A GOOD SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5,288 CONTRACTS WITH 563 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 4725 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 12,352 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1385 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4725 CONTRACTS) ACCOMPANYING THE SMALL SIZED INCREASE IN COMEX OI OF 563 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 12,352 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 3500 OZ QUEUE JUMP

//NEW STANDING ADVANCES TO: /SEPT 12.752 TONNES.

/ 3) CONSIDERABLE T.A.S. LIQUIDATION (DURING COMEX ACCESS) WITH ZERO NET LONG SPECS BEING CLIPPED,

4) SMALL SIZED COMEX OPEN INTEREST INCREASE 5) HUMONGOUS ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 622 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: 73,165 CONTRACTS OF 7,3165,00OZ OR 227.57 TONNES IN 14TRADING DAY(S) AND THUS AVERAGING: 5264 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 14TRADING DAY(S) IN TONNES 227,57 TONNES

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

THUS EFP TRANSFERS REPRESENTS 227,57DIVIDED BY 3550 x 100% TONNES = 6,48% 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: 227.57 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE.

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPTEMBER. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A GOOD SIZED 367 CONTRACTS OI TO 141,015 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 1155 CONTRACTS

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

DEC 1155 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1155 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 367 CONTRACTS AND ADD TO THE 1155 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 788 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 5.210 MILLION OZ OCCURRED DESPITE OUR $0.89 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//

FRIDAY MORNING/THURSDAY NIGHT

/HANGHAI CLOSED UP 0.49PTS OR .803%//Hang Seng CLOSED UP 245.41PTS OR 1.56%

// Nikkei CLOSED UP 568.58PTS OR 1,53%//Australia’s all ordinaries CLOSED UP 0.24%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0564CHINESE YUAN OFFSHORE CLOSED UP TO 7.0552 Oil UP TO 71.64 dollars per barrel for WTI and BRENT UP AT 74..52Stocks in Europe OPENED ALL MOSTLY RED

ONSHORE YUAN TRADING BELOWLEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGE

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 ROSE BY A SMALL SIZED 563 CONTRACTS TO 538,832 WITH OUR GAIN IN PRICE OF $17.05 WITH RESPECT TO THURSDAY’S TRADING. WE LOST ZERO IN NUMBER LONGS WITH THE HIGHER PRICE FOR GOLD. WE ALSO HAD A HUGE NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (4725). THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THIS MONTH DISTORTS OPEN INTEREST NUMBERS GREATLY.THEY TRIED YESTERDAY AND FAILED MISERABLY

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 CONSIDERABLE T.A.S. LIQUIDATION ON THURSDAY’S GAIN IN PRICE (ESPECIALLY IN THE ACCESS TIME ZONE) WITH ZERO LONGS BEING CLIPPED (AS YOU WILL SEE BELOW) BUT WE DID HAVE MAJOR ATTEMPTED SHORT COVERING AT MUCH LOWER PRICES. (AT 2:30 PM THURSDAY//ORCHESTRATED RAID BY THE FED). 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.THE RAID ORCHESTRATED BY THE FED DID SHOW IN THURSDAY’S NUMBERS AND AS PROMISED FRIDAY’S NUMBERS ARE A DILL.Y ANDREW AND HIS PHYSICAL FRIENDS WERE READY AND ANTICIPATED THE CROOKS SLAM, AS THEY BOUGHT HEAVY AT THE LOWER PRICES AND THEN TENDERED,

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 4725 EFP CONTRACTS WERE ISSUED: : OCT/DEC 4725 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4725 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 GOOD SIZED TOTAL OF 5,288 CONTRACTS IN THAT 4725 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A SMALL GAIN OF 563 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR STRONG GAIN IN PRICE OF $17.05/THURSDAY 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 THURSDAY NIGHT A FAIR SIZED 1385CONTRACTS. 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 AND YESTERDAY’S SMACKDOWN/WEDNESDAY AFTERNOON AFTER THE COMEX CLOSED (DURING POWELL’S PRESSER)

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: SEPT (12.837 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. 12.837 TONNES.

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $17.05/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES. WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION EARLY THURSDAY AFTERNOON IN THE ACCESS MARKET BUT CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY THURSDAY EVENING ,MUCH TO THE SHOCK OF THE FRBNY. HEAD TRADER BENOIT GILSON, WAS SEEN GULPING PILLS UPON SEEING MASSIVE TENDERING FOR PHYSICAL.

WE HAVE GAINED A TOTAL OF 16.64 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR SEPT (12.885 TONNES) ON FIRST DAY NOTICE FOLLOWED BY THURSDAY’S QUEUE JUMP OF A STRONG SIZED 3500 OZ

//NEW STANDING FOR SEPT ADVANCES TO: 12.837 TONNES.

NEW STANDING FOR SEPT: 12.837 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $17.05

WE HAVE REMOVED 7064 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 5,288 CONTRACTS OR 528,800 OZ (16.44

TONNES)

confirmed volume THURSDAY 216,537contracts FAIR

//speculators have left the gold arena

END

SEPT 20 SEPTEMBER GOLD CONTRACT

/ /// THE SEPT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	36,169,647 Oz jpmorgan .
Deposit to the Dealer* Inventory in oz*	nil OZ
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	47notice(s) 4700OZ 0.1462TONNES
No of oz to be served (notices)	54contracts 5400 OZ 0.1679TONNES
Total monthly oz gold served (contracts) so far this month	4073 notices 407,300oz 12.668 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

0 dealer deposits:

total dealer deposits: nil oz

we have 0 customer deposits

total deposits nil oz

withdrawals: 1

i) out of JPMorgan: 36,169,647oz

TOTAL WITHDRAWALS: 36,169,647 oz

adjustments:1

dealer to customer/jpmorgan 12,038.162 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER

For the front month of SEPT. we have an oi of 101 contracts having GAINED 17 contracts. We had 18 notices filed on THURSDAY so we GAINED 35 contracts or 3500 oz will stand at the comex as these boys seek metal on THIS side of the pond.

OCTOBER LOST 383 CONTRACTS DOWN TO 41,343 CONTRACTS

NOVEMBER GAINED 33 CONTRACTS TO STAND AT 458

DECEMBER, THE BIGGEST DELIVERY MONTH GAINED 769 CONTRACTS TO 437,606

We had 47 contracts filed for today representing 4700 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 47 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 25 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 (4073 100 oz ) to which we add the difference between the open interest for the front month of SEPT X101CONTRACTS) minus the number of notices served upon today (47x 100 oz per contract( equals 412,700 OZ OR 12.837 ONNES.

thus the INITIAL standings for gold for the SEPTEMBER contract month: No of notices filed so far (4073 x 100 oz +we add the difference for front month of SEPT (X101OI} minus the number of notices served upon today (47 x 100 oz which equals 412,700 oz (12.837TONNES)

TOTAL COMEX GOLD STANDING FOR SEPT.: 12.837 TONNES WHICH IS HUGE FOR THIS NON ACTIVE DELIVERY MONTH IN THE CALENDAR.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES

204,937.290 OZ PLEDGED MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes

265,999.054, oz JPM No 2

1,152,376.639 oz pledged Brinks/

Manfra: 33,758.550 oz

Delaware: 193.721 oz

International Delaware:: 11,188.542 oz

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

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 16,898,041.503 OZ

TOTAL REGISTERED GOLD 7,474,573.631 /// 232.49 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 9,423,467,872OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,588,629oz (REG GOLD- PLEDGED GOLD)= 173.82tonnes //

END

SILVER/COMEX

SEPT 20 2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	1,506,080.841 OZ Brinks Delaware Manfra .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	21 CONTRACT(S) (105,000 OZ)
No of oz to be served (notices)	43 contracts (0.215million oz)
Total monthly oz silver served (contracts)	5018 Contracts (25.090 MILLION oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit/

total dealer deposit : NIL oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 0 customer deposits:

total customer deposits nil oz

We had 3 withdrawals

1Out of Brinks 1,364,478,660 oz

ii) Out of Delaware 3,954,03 oz

iii) Out of Manfra 137,148,151 iz

total withdrawal 1,506,080,841 oz

JPMorgan has a total silver weight: 134.996million oz/304,327million or 44.37%

adjustment:0

TOTAL REGISTERED SILVER: 74.897MILLION OZ//.TOTAL REG + ELIGIBLE. 304,377million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR SEPTEMBER:

silver open interest data:

FRONT MONTH OF SEPT/2024 OI: 64 CONTRACTS HAVING LOST 38 CONTRACT(S).

WE HAD 55 NOTICES FILED ON THURSDAY, SO WE GAINED 17 CONTRACTS OR 85,000 OZ

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

THERE MUST BE ENOUGH SILVER OVER HERE.

OCTOBER SAW A LOSS OF 10 OF OPEN INTEREST CONTRACTS AND THUS WE HAVE 1431 OPEN INTEREST CONTRACTS FOR OCTOBER.

NOVEMBER SAW A GAIN OF 1 CONTRACTS TO STAND AT 109

DECEMBER SAW A LOSS OF 574 CONTRACTS DOWN TO 122,861 CONTRACTS

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

CONFIRMED volume; ON THURSDAY 140,761huge

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 5018x 5,000 oz = 25.090 MILLION oz

to which we add the difference between the open interest for the front month of SEPT(101)and the number of notices served upon today 21 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the SEPT/2024 contract month: 5018 notices served so far) x 5000 oz + OI for the front month of SEPT (101)x number of notices served upon today minus (21)x 5000 oz of silver standing for the SEPT contract month equates to 25.305 MILLION OZ.

New total standing: 25.305 million oz.

There are 74.897million 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 20 WITH GOLD UP $32.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1,73 TONNES OF GOLD INTO THE GLD../// /:// //////INVENTORY RESTS AT 873,96ONNES

SEPT 19 WITH GOLD UP $17,05 ON THE DAY; NO CHANGES IN GOLD AT THE GLD/// /:// //////INVENTORY RESTS AT 872.23TONNES

SEPT 18 WITH GOLD UP $5.95 ON THE DAY; NO CHANGES IN GOLD AT THE GLD/// /:// //////INVENTORY RESTS AT 872.23TONNES

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: 873.96 TONNES, TONIGHTS TOTAL

SILVER

SEPT20 WITH SILVER UP $0.08 : NO CHANGES IN SILVER INVENTORY:. A WITHDRAWAL OF 1.46 MILLION OZ FROM THE SLV/. /: .///./// /INVENTORY AT SLV 459,619 MILLION OZ

SEPT19 WITH SILVER UP $0.85 : HUGE CHANGES IN SILVER INVENTORY:. A WITHDRAWAL OF 1.46 MILLION OZ FROM THE SLV/. /: .///./// /INVENTORY AT SLV 459,619 MILLION OZ

SEPT18 WITH SILVER DOWN $0.29 : HUGE CHANGES IN SILVER INVENTORY:. A WITHDRAWAL OF 1,551 MILLION OZ FROM THE SLV/. /: .///./// /INVENTORY AT SLV 461.079 MILLION OZ

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 459.619 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

end

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

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHE

A MUST VIEW:

TFMR’s Craig Hemke interviews GATA secretary about prospects for monetary metals

Submitted by admin on Thu, 2024-09-19 15:13 Section: Daily Dispatches

3:14p ET Thursday, September 19, 2024

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals Report yesterday sought your secretary/treasurer’s opinion about the prospects for gold, silver, the international financial system, the U.S. government’s resort to inflationary finance, and the dishonesty of mainstream financial news organizations. We also discussed GATA’s work documenting the largely surreptitious interventions of central banks to prevent the monetary metals from competing with their own currencies. Since the Federal Reserve had just announced its decision on interest rates, we discussed that too.

Our conversation is 28 minutes long and can be heard at the TF Metals Report’s internet site here:

https://www.tfmetalsreport.com/podcast/12840/thursday-conversation-chris-powell

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

END

Gold testing $2600

After a bullish performance last week which took gold to new highs, will it hold on to them, or is a correction overdue? Read on…

Alasdair Macleod

Sep 20, 2024

∙ Paid

This week, gold and silver consolidated recent rises with gold trading at $2608 in early European trade, up $35 on the week after last week’s spectacular rise. And silver traded at $31.15, up 45 cents on the same time scale. Comex volumes were moderately healthy, with a noticeable increase in turnover on Wednesday, when the Fed cut its funds rate by 0.5% spurring significant volatility.

Chairman Powell’s remarks were contradictory. He claimed that inflation was being conquered. He said that the US economy is in great shape and that the labour market is in a solid condition. Accordingly, he downplayed further interest rate cuts, subject to further confirmation on inflation and the course of the economy.

All this seems disingenuous, because there is no way with escalating budget deficits that inflation is licked. To argue otherwise flies in the face of all economic history and reasoned analysis. And the belief that the US economy is still strong shows a touching belief in his own government’s statistics which inflates GDP by excess government spending over tax receipts. One can only conclude that ahead of the US presidential election that politics are involved.

The first reaction on Wednesday’s larger than widely expected rate cut was a defensive markup taking spot gold to just under $2600. And when the buyers didn’t follow through the bullion banks bashed the price, taking out stops down to $2547 before a slight recovery into the close.

Foreign buyers were not deterred. Their overnight buying on Wednesday night EST following the markdown led to a significant rise ahead of yesterday morning’s London fix, taking the price back up to $2595 as overnight Asian buying was unwound. The next chart of half-hourly bars illustrates the action, starting with the post-FOMC statement mark-up, followed with the mark-down to $2549, and the subsequent recovery.

Notice the relationship between price and volume, particularly at the action covered by the two arrowed lines. In a second attempt at a price knockdown two hours after London’s morning fix at 0830 EST (the start of the arrowed lines, volume shot up as buyers came in. The price recovered and then held firm as volume diminished. In other words, selling pressure was drying up.

A technical analyst would say that this chart shows a bullish cup-and-saucer action ahead of today’s trading. It illustrates that the bulls are using price dips to buy, squeezing the shorts.

The problem the bullion banks has is they cannot close their shorts without driving the price higher. The next chart shows this problem in $ billions on Comex.

The Swaps are mainly comprised of bullion bank trading desks, and with gross mark-to-market exposure of over $3 billion on average, the shortage of physical bullion is putting the squeeze on them. If the squeeze continues, then control over gold prices will be lost, to be replaced by a bear squeeze on the establishment. We don’t know their position in London, but they are almost certainly short there too in aggregate, particularly where they offer customers unallocated gold accounts.

The technical position continues to look impressive, as the next chart shows:

In conclusion, it appears that $2600 is not a significant hurdle and price rises have further to go in the short-term..

4. OTHER GOLD COMMENTARIES/:live from the vault: no 191 ANDREW MAGUIRE

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

Sugar Futures Erupt In Largest Weekly Gain In Years Amid “Unusual & Persistent Weather Events” In Brazil

Friday, Sep 20, 2024 – 02:25 PM

Brazil’s Center for Natural Disaster Monitoring and Alerts has reported that drought conditions plague roughly 59% of the country, including vast areas of agricultural land. The severe drought has damaged several key commodity crops in the South American country, which is known as the world’s top exporter of soybeans, sugarcane, beef, coffee, corn, orange juice, and poultry.

Focusing on sugar markets, Bloomberg cited data from trader Wilmar International showing that droughts are expected to severely impact sugar production in the Center-South, Brazil’s central growing region. So far, the dismal crop forecasts have catapulted raw sugar futures in New York to the largest weekly gain in six years, nearly eclipsing those levels and hitting levels not seen since 2008.

Wilmar wrote on X that a series of unusual weather events have significantly impacted the sugarcane crop in the Center-South region. This has led to a downward revision of the crop estimate to 38.8-40.8 million tons, down from the initial 42 million tons.

.Xcom/SugarWilmar/status/1836771362188255661

Mark Bowman, senior global market analyst at ADM Investor Services, told Bloomberg, “The diminishing outlook for Brazil’s Center-South production has been the key fundamental factor,” adding, “The dry conditions and the possibility of a drop in their production have been known for some time, but recent reports have accelerated the concerns.”

Concerns about lower production and tightening global supplies sent the most active raw sugar future contracts in New York up as much as 3.7%. It’s on track for a weekly gain of 18%, the highest weekly gain since the first week of 2018. This would be the second-largest weekly jump since August 2008.

Meanwhile, orange juice markets are running out of juice amid the worst drought in half a century. Prices are hyperinflating in New York.

Padilla said, “The smallest crop in 35 years, plus rising citrus greening disease, plus drought — it’s the perfect storm,” adding, “The market is really stressed.”

And this:

Consumers around the world are haunted by food inflation.

Food inflation is sticky.

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/FRIDAY MORNING/THURSDAY NIGHT

SHANGHAI CLOSED UP 0.49PTS OR .803%//Hang Seng CLOSED UP 245.41PTS OR 1.56%

ONSHORE YUAN TRADING BELOWLEVEL 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 FRIDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED UP TO 7.0564

OFFSHORE YUAN: UP TO 7.0552

SHANGHAI CLOSED CLOSED UP 0.49 PTS OR .03%

HANG SENG CLOSED CLOSED 245.41 PTS OR 1.56%

2. Nikkei closed 568,53 POINTS OR 1,53%

3. Europe stocks SO FAR: ALL MOSTLY RED EXCEPT SPAIN

USA dollar INDEX DOWN TO 100.56 EURO RISES TO 1.1157 UP 12 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +0.847 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 144.27…… JAPANESE YEN NOW RISING AS WE HAVE NOW REACHED THE COLLAPSING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now ABOVE 17,000

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

3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.2065 Italian 10 Yr bond yield UP to 3.555 SPAIN 10 YR BOND YIELD UP TO 2,993

3i Greek 10 year bond yield UP TO 3.175

3j Gold at $2614.10 /Silver at: 31.32 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 758/100 roubles/dollar; ROUBLE AT 92.75

3m oil into the 71 dollar handle for WTI and 74 handle for Brent/

3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 144.27 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.847% 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 0.8494 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9479 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: 3.737 UP 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.065 DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD: 3.656 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.12…

10 YR UK BOND YIELD: 3.930 UP 53PTS

10 YR CANADA BOND YIELD: 2.955 DOWN 1BASIS PTS

5 YR CANADA BOND YIELD: 2.758 UP 1 PTS.

2a New York OPENING REPORT

Futures Fall As Fed Frenzy Fades And Traders Brace For $4.5 Trillion Quad Witch OpEx

Friday, Sep 20, 2024 – 08:27 AM

After yesterday’s delayed (and technically-driven) post-rate cut meltup, futures are set to close the week on a downbeat note as they slide across the board, following European stocks lower, but still just shy of the all time high they hit yesterday. As of 8:00am S&P futures are down 0.3% as disappointing earnings (FDX cratered -13% after missing and cutting guidance, dragging UPS -2.4% and logistics names lower) tempered the euphoria around the trajectory for interest rates; Nasdaq futures were down 0.4% with most MegaCap Tech names lower: TSLA (-3.6%) is the top mover, followed by META (-1.8%) and AAPL (-1.7%). The yen plunged more than 1% after the BOJ announced no hike to its policy rate, in line with expectation, and further signaled the gradualist approach to its rate hikes. USDJPY +0.8% to 143.8; NKY +1.5%. PBOC left loan prime rates unchanged. Throwing a potential wrench in what may have been a quiet end to the week is that today brings the ninth option expiry of 2024, and the last “quad witch” before the US election, where a record for September $4.5 trillion in notional will expire between now and 4pm ($2.6 trillion of this is SPX Sep regular / the remaining is split across etf and single stock at end of day) potentially triggering volatility, although market implied vol is low enough to rent delta in either direction. Yields are mostly higher, and USD is largely unchanged; 5-, 10-yr yields are 5bp, 10bp higher. Commodities are mixed with oil and metals higher, while ags are mostly lower. There is nothing on the macro calendar.

In premarket trading, FedEx plunged 14% after the parcel carrier lowed its annual outlook for adjusted earnings per share and revenue growth, while posting a worse-than-expected quarterly profit. Morgan Stanley downgraded the stock and warned Fedex could be facing structural risks. Nike shares rise 6.8% Friday after the company announced Elliott Hill will return to the company as CEO and president effective Oct. 14, replacing John Donahoe, who will retire. Analysts were positive about the announcement as Hill is an industry and company veteran. Here are some other notable premarket movers:

Apellis Pharmaceuticals shares drop 7.5% after the drugmaker said a committee of the European Medicines Agency has upheld its negative opinion on the marketing authorization for the company’s eye drug, Syfovre.
Assembly Biosciences shares rise 5.4% after Jefferies upgraded the stock to buy from hold ahead of data for the firm’s Herpes simplex virus (HSV) anti-viral drug.
Snap shares edge lower, falling 1.2% as B Riley Securities initiated coverage on the social media company with a neutral recommendation. Analyst Naved Khan says the stock is trading at a premium to its peers with a “full” valuation.

The Fed’s bld half-point rate cut this week boosted confidence that it will be able to engineer a soft landing, but warnings such as the one from FedEx underscore lingering risks to the economy. Fed policymakers have projected a further half point of reductions this year.

“For all the optimism in markets right now, it’s clear that a few concerns still lie under the surface,” said Jim Reid, a strategist at Deutsche Bank AG. “In particular, futures are continuing to price in a more aggressive pace of cuts than was implied by the Fed’s dot plot on Wednesday, so investors think they might need to accelerate those rate cuts if downside risks materialize.”

For BofA’s resident bear, Michael Hartnett, the optimism in equity markets following the Fed’s move is stoking the risk of a bubble, making bonds and gold an attractive hedge against any recession or renewed inflation. In his latest Flow Show, he said stocks are now pricing in more Fed easing and about 18% earnings growth for the S&P 500 by end-2025. It doesn’t “get much better than that for risk, so investors are forced to chase” the rally, Hartnett wrote in a note. He also said stocks outside the US and commodities, especially gold, were a good way to play a possible soft economic landing, with the latter being an inflation hedge. And sure enough, gold just hit a fresh record above $2,600 an ounce as the Fed’s aggressive start to policy easing continued to ripple through markets.

Traders are also braced for the quarterly “quad witching,” when about $4.5 trillion in options and derivatives and futures are set to mature according to Goldman, making it the largest September expiry of all time. The options expiry coincides with the rebalancing of benchmark indexes. The event has a reputation for causing sudden price moves as contracts disappear and traders roll over their existing positions or start new ones (full preview here).

Elsewhere, the Bank of Japan was in focus as it kept policy unchanged, with the yen sliding 1.2% as Governor Kazuo Ueda proved less hawkish than some traders expected. Ueda signaled little urgency to hike rates, and said that upside risks to inflation are easing.

European stocks slumped, with the Estoxx 50 falling almost 1% as Mercedes-Benz Group tumbled as much as 8.4% after cutting its financial forecast because of sluggish China sales; besides autos, info tech and consumer discretionary sectors underperformed while utilities and telecommunications stocks are the biggest outperformers. Here are the biggest European movers:

Mercedes shares fall as much as 8.4% to nearly a two-year low after the German carmaker cut its 2024 financial forecast in a profit warning that RBC called both surprising and ambiguous
Atoss Software gains as much as 2.3% after Deutsche Bank initiated coverage of the German software firm with a buy recommendation, calling it a “leader” in the German-speaking workforce management market
Card Factory advances as much as 8.3% and Moonpig +6.8% as UBS recommends buying shares of the UK-listed greetings-card retailers
Volution Group shares rise as much as 12% to hit a record high after the maker of indoor air quality products agreed to buy the Fantech Group of companies for up to a total of AUD280 million
ASML shares fall as much as 2.7% after Morgan Stanley downgraded the chip-equipment maker to equal-weight from overweight, seeing earnings growth at risk of uncertain demand from memory chipmakers, Intel and China
Hexpol falls as much as 7.8%, the most sinceJanuary 2023, after Kepler Cheuvreux reiterated its hold rating ahead of the Swedish polymer and rubber firm’s 3Q report on Oct. 25
JDE Peet’s shares fall as much as 8.3% after a shareholder sold about 3.5 million shares in the Dutch coffee maker at a discounted price of €19 per share, according to terms seen by Bloomberg
Burberry falls as much as 5.1%, extending yearly losses to 58% and among the worst performers on the Stoxx 600, after Jefferies cut its recommendation on the firm to underperform in a bearish review on the sector, advising investor caution
Dr. Martens shares slide as much as 18%, hitting a fresh record low, after an unnamed investor sells around 70 million shares via Goldman Sachs at a 9.8% discount versus Thursday’s close

Earlier in the session, Asian stocks set its best week in a month as the Federal Reserve’s larger-than-expected rate reduction and hopes of China’s stimulus rekindled appetite for riskier assets. The MSCI Asia Pacific Index rose 0.7% to a two-month high on Friday, taking this week’s advance to 2%. Most benchmarks gained with the Hang Seng China Enterprises Index up for a sixth session. Japanese shares held onto gains as the Bank of Japan kept its monetary policy steady, signaling it’s in no rush to raise interest rates. Financial markets across the region have been upbeat, with a gauge of the region’s currencies reaching a 16-month high this week. The Malaysian ringgit and the Indonesian rupiah have strengthened against the dollar this week.

In FX, the Bloomberg Dollar Spot Index traded in a narrow range against most of its other Group-of-10 peers and swung from losses to gains as the yen first gained then tumbled. And speaking of the yen, it plunged more than 1% after Governor Kazuo Ueda indicated the Bank of Japan isn’t in a hurry to increase interest rates again. The pound outperformed its peers after UK retail sales grew at a faster pace than expected

In rates, treasuries were cheaper across the curve and yields rose in a mild bear-flattening move that partially unwinds the steepening trend advanced by Wednesday’s half-point Fed rate cut. Front-end yields are cheaper by more than 2bp, narrowing 2s10s and 5s30s curve spreads; 10-year around 3.73% is less than 2bp cheaper on the day with bunds and gilts outperforming by 1bp and 2bp. Treasury coupon auctions ahead next week include 2-, 5- and 7-year note sales Tuesday, Wednesday and Thursday

In commodities, oil was on track for the biggest weekly advance since February. Gold hit a fresh record above $2,600 an ounce as the Fed’s aggressive start to policy easing continued to ripple through markets.

US economic data calendar is blank; Fed speaker slate includes Philadelphia Fed President Harker at 2pm as well as ECB President Lagarde.

Market Snapshot

S&P 500 futures down 0.2% to 5,703.75
STOXX Europe 600 down 0.7% to 518.09
MXAP up 0.7% to 186.70
MXAPJ up 0.7% to 583.56
Nikkei up 1.5% to 37,723.91
Topix up 1.0% to 2,642.35
Hang Seng Index up 1.4% to 18,258.57
Shanghai Composite little changed at 2,736.81
Sensex up 0.9% to 83,965.54
Australia S&P/ASX 200 up 0.2% to 8,209.47
Kospi up 0.5% to 2,593.37
German 10Y yield little changed at 2.18%
Euro little changed at $1.1165
Brent Futures down 0.5% to $74.49/bbl
Gold spot up 0.9% to $2,610.23
US Dollar Index little changed at 100.70

Top Overnight news

Japan’s BOJ left rates unchanged, as was widely expected, but said the economy was progressing in a manner consistent with its expectations (the view on consumption was tweaked higher), reinforcing expectations that another hike could occur this year. Nikkei
China disappoints markets by leaving its Loan Prime Rates unchanged (some felt the country’s weakening growth outlook, coupled with the Fed’s outsized move, would spur a reduction in the LPR). WSJ
China is working on a proposal to remove home purchase restrictions as the gov’t scrambles to support an economy that continues to cool. BBG
The European Central Bank’s rate cutting cycle could accelerate over coming months, governing council member Fabio Panetta said on Thursday. RTRS
After months of saying a cease-fire and a hostage-release deal was close at hand, senior U.S. officials are now privately acknowledging they don’t expect Israel and Hamas to reach an agreement before the end of President Biden’s term. WSJ
Port of New York/New Jersey executives have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association which is the largest union in North America: CNBC
Warren Buffett’s disposals of BofA shares have covered his investment cost of $14.6 billion, leaving him with a stake worth more than $34 billion that’s pure profit. Berkshire Hathaway sold about $900 million of the stock in the latest tranche. BBG
OpenAI’s latest fundraising is nearing completion, with prospective investors set to find out Friday whether they’ll be part of the deal, according to people familiar with the matter. The $6.5 billion funding round for the artificial intelligence startup is oversubscribed, meaning investors were hoping to put in more money than the company was ready to take on. BBG
Nike (+7% pre mkt) announced that Elliott Hill will become President and CEO, effective October 14, 2024. WSJ
FedEx (-14% pre mkt) reported a miss on EPS, margins, and sales due to weak volumes and a mix shift to lower-priced products, and the full-year guidance was trimmed. RTRS

A more detailed look at global markets courtesy of Newsquawk

APAC stocks mostly gained following the rally stateside where the S&P 500 and the Dow surged to fresh record highs as the dust settled after the Fed over-delivered in its first rate cut in four years and US data topped forecasts. ASX 200 followed suit to its US counterparts as tech led the advances and the index printed a new all-time high. Nikkei 225 outperformed again and approached closer to the 38,000 level, while the BoJ policy announcement provided no major fireworks in which the central bank kept its short-term rates unchanged at 0.25%, as unanimously forecast. Hang Seng and Shanghai Comp were mixed with the former joining in on the optimism in the region owing to the recent central bank activity and with EV makers finding some encouragement from recent China-EU EV tariff talks. Conversely, the mainland lagged despite the recent pledge by the NDRC to roll out a batch of incremental measures and reports that China is mulling removing major homebuying curbs, while the PBoC also announced China’s latest Loan Prime Rates which were unsurprisingly maintained at their current levels.

Top Asian news

China weighs removing major homebuying curbs to boost demand and may end distinctions between first and second home purchases, while it may also ease restrictions on non-local homebuyers in Beijing and Shanghai, according to Bloomberg. People familiar with the matter also said authorities are mulling measures to shore up the sluggish stock market but didn’t provide specifics.
China and EU both aim to resolve differences via consultations over the EU investigation into Chinese EVs, while China’s Commerce Minister and EU’s Trade Commissioner are to continue pushing forward negotiations on price commitments and the sides are to spare no effort to reach a mutually acceptable solution through dialogue, according to Xinhua. This followed a previous report that no deal was reached in EU-China talks on EV tariffs and EU’s Dombrovskis said both sides agreed to intensify efforts to find an effective, enforceable and WTO-compatible solution.
USTR office said it will accept public comments from Monday on plans for steep tariff increases on Chinese polysilicon, silicon wafers and tungsten products, according to Reuters.
Republican Senator Rubio is introducing a bill to prevent Chinese companies from benefiting from favourable US trade rules by operating in other countries.
China’s NDRC will cut retail gasoline and diesel prices by CNH 365/ton and CNH 350/ton respectively, starting September 21, via Bloomberg

European bourses, Stoxx 600 (-0.6%) are entirely in the red, but to varying degrees; price action today has been fairly lacklustre, with indices generally slowly drifting lower as the morning progressed. European sectors hold a strong negative bias; Utilities takes the top spot alongside Telecoms. Autos is by far the clear underperformer, dragged down by Mercedes-Benz (-7.1%) after it cut guidance citing China weakness. Consumer Products and Tech also lag, with the latter hampered by ASML (-2%) after it was downgraded at Morgan Stanley.

Top European news

ECB’s Rehn says they have progressed well towards the inflation target, easing pace is data-dependent.
ECB’s de Guindos says they have left the door totally open and in December they will have more information than in October.
BoE’s Mann says she agrees with investors who think inflation could stay above target for an extended period of time. It is better, under inflation uncertainty, to remain restrictive for longer, until right tail risks to the inflation process dissipate, and then to cut more aggressively. Has a guarded view on initiating a cutting cycle despite agreeing with the majority for a hold at the meeting just concluded. Policy needs to remain restrictive to purge inflationary behaviours. Risk of inflation expectations de-anchoring have subsdided. Did consider voting to cut rates in August but wanted to avoid a “boogie-dance” with policy rates.

BOJ Decision

BoJ kept its short-term policy rate unchanged at 0.25%, as expected with the decision made by unanimous vote, while it said Japan’s economy is recovering moderately albeit with some weaknesses and inflation expectations are heightening moderately. BoJ also stated that inflation is likely to be at a level generally consistent with the BoJ’s price target in the second half of its 3-year projection period through fiscal 2026 and it sees medium and long-term inflation expectations increasing. Furthermore, it sees exchange rate trends as having a greater influence on prices and said Japan’s economy is likely to achieve growth above potential but also stated that they must be vigilant to the impact of financial and FX market moves on Japan’s economy and prices.

Ueda press conference

Outlook for overseas economies, incl. the US and markets, remains unstable. When asked about remarks from Uchida, says markets remain unstable. Remarks which sparked USD/JPY upside.
Upside price risks have decreased given recent FX moves; risks of an inflation overshoot have somewhat diminished.
No change to the thinking that they will continue to lift rates if the economy develops as expected; will take the next policy step when there is enough evidence.
Aware that more efforts are needed to change market expectations as policy rates have shifted in earnest to positive territory from zero or negative over long period.
Need to watch to see if the US economy attains a soft landing, making a judgement on the US is difficult.

DXY is steady vs. peers (ex-JPY) in what has been an eventful week for the USD after the Fed delivered an outsized 50bps rate cut and sent DXY to a fresh YTD trough at 100.21.
EUR is flat vs. the USD but in close proximity to recent highs. EUR/USD is sitting just below the WTD peak set on Wednesday at 1.1189 with focus on a test of 1.12.
GBP is the marginal outperformer across the majors on account of better-than-expected UK retail sales and yesterday’s “hawkish hold” by the BoE which led markets to no longer fully price a 25bps reduction at the November meeting. Cable is off best levels, however, printed another multi-year high earlier in the session at 1.3340.
JPY is the laggard across the majors, initially unreactive to the BoJ policy announcement, which kept rates unchanged. However, follow-up remarks from BoJ Governor Ueda gave the impression that the Bank was not in a rush to hike rates further as policymakers assess the impact of prior tightening. Accordingly, USD/JPY rose from a 141.75 base to a 143.75 peak but is yet to eclipse yesterday’s 143.94 peak.
AUD/USD’s recent run of gains since Monday has paused for breath with the USD a touch firmer vs. AUD. NZD/USD is seeing uneventful trade with the pair contained within yesterday’s 0.6181-0.6268 band.
PBoC set USD/CNY mid-point at 7.0644 vs exp. 7.0637 (prev. 7.0983).
Chinese major state-owned banks are seen buying dollars in the onshore currency market to prevent the yuan from strengthening too fast, according to sources cited by Reuters.

Fixed Income

USTs are slightly firmer with specifics light thus far for the US but with action coming from the BoJ; while the decision itself was largely uneventful the presser saw a particularly dovish Ueda. Thus far, USTs have probed but failed to breach 115-00 or, by extension, test yesterday’s 115-02+ top. Fed’s Bowman (who dissented at the most recent meeting) is set speak about her decision later.
JGBs climbed by almost 30 ticks during Ueda’s speech and potentially driving the broader modest move higher in USTs/EGBs/Gilts across the morning.
Gilts gapped lower by nine ticks as the benchmark reaction to UK data points from earlier in the morning with strong Retail Sales (buoyed by good weather) sparking a hawkish reaction in GBP at the time a modest but fleeting move in market pricing. The move ultimately proved fleeting, broadly a factor of the JGB upside.
Bunds are towards the top end of a sub-30 tick range with European specifics relatively light aside from a handful of ECB speakers, though commentary was in-fitting with the data-dependent tone and as such did not merit any reaction. At a 134.53 peak, someway shy of Wednesday’s 134.86 best.

Commodities

Crude complex is slightly softer largely a factor of today’s subdued market sentiment. Brent’Nov sits near the lower end of a USD 74.40-74.87/bbl parameter.
Precious metals are firmer but to varying degrees with spot silver the outperformer, spot gold printing fresh record highs, and spot palladium relatively flat. XAU rose from a USD 2,584.87/oz APAC low to a high of USD 2,612.60/oz in early European hours.
Overall a mixed session for base metals amid the cautious tone elsewhere, but industrials are seemingly still supported by the Fed’s 50bps rate cut alongside reports that China weighs removing major homebuying curbs to boost demand, according to Bloomberg.
Operator of Kazakhstan’s Karachaganak field says it cut oil output on Sept 9-5 due to maintenance; says it will run another round of maintenance on Sept 23-28.

Geopolitics: Middle East

Israel conducted dozens of strikes in south Lebanon in a major intensification of bombing, according to Reuters citing security sources, while Israeli military later said that their fighter jets struck hundreds of rocket launcher barrels in southern Lebanon that were ready to be used immediately to fire toward Israeli territory, according to Reuters.
“Senior adviser to (Israeli PM) Netanyahu presented the Biden administration with a new proposal for a ceasefire and the liberation of hostages”, via Al Jazeera citing CNN
Hamas source told Al-Arabiya that they are keen to reach an agreement in Gaza.
The US doesn’t expect an Israel-Hamas deal before the end of US President Biden’s term, according to WSJ
“Russia warns of ‘dire consequences’ if Israel launches large-scale military operation in Lebanon”, according to Al Arabiya.

Geopolitics: Other

Russia says it is concerned by increasingly “provocative” NATO activity on the border with Belarus. Russia notes that it has tactical nuclear weapons in Belarus, says Kyiv and the West risk “disastrous consequences” if they pursue provocative scenarios.
Russian Foreign Minister Lavrov said they see how NATO is increasing its manoeuvres near the North Pole and that Russia is ready to defend its interests militarily, according to Asharq News.
China Defence Ministry spokesperson said US arms sales to Taiwan seriously violated the One-China principle and provisions of China-US joint communiques.

US Event Calendar

Nothing major scheduled

DB’s Jim Reid concludes the overnight wrap

Markets put in a buoyant performance over the last 24 hours, as growing optimism about a soft landing and the Fed’s 50bp rate cut pushed risk assets up to new highs. In particular, the S&P 500 (+1.70%) surged to a fresh record, marking its 39th all-time high of 2024 so far, and taking it above its previous peak from mid-July. That was echoed across the board, with credit spreads tightening and oil prices rising, alongside a mounting belief that this economic cycle could still have some way to run.

This belief in the US soft landing got fresh support yesterday from the weekly initial jobless claims. Bear in mind that these are one of the timeliest indicators we have on the US labour market, and they showed claims were down to 219k (vs. 230k expected) in the week ending September 14. That’s the lowest number since May, and there are growing signs that isn’t just a blip, because the 4-week moving average was also down to 227.5k, which is the lowest since early June. The decline may have been boosted by residual seasonality, with strong September declines visible the previous two years. But the release comes on top of other strong data earlier in the week, including the retail sales and industrial production releases for August. Indeed, the Atlanta Fed’s GDPNow forecast is currently at an annualised +2.9% for Q3, almost in line with the +3.0% number in Q2, which doesn’t look like a recession at all.

Obviously it’s early days in this cycle of rate cuts, but so far at least, we appear to be in the benign scenario where the Fed are cutting rates outside of a recession. Historically, that has been a very good combination for equities, as Jim pointed out in his chart of the day earlier this week (link here). Moreover, with the Fed’s decision to cut on Wednesday, that’s adding to the global synchronicity of this monetary policy easing, as many of the developed world central banks are now cutting rates again.

That said, for all the optimism in markets right now, it’s clear that a few concerns still lie under the surface. In particular, futures are continuing to price in a more aggressive pace of cuts than was implied by the Fed’s dot plot on Wednesday, so investors think they might need to accelerate those rate cuts if downside risks materialise. For instance, the median dot signalled a further 50bps of cuts by year-end, with just one member opting for more than that at 75bps. But futures are pricing in 73bps of cuts by the December meeting, so by implication they think it’s more-likely-than-not that the Fed will cut faster than the dot plot.

The other interesting feature of recent sessions has been the recovery in near-term inflation swaps. As recently as September 6, the 2yr inflation swap fell to just 1.98%, which was the lowest it had been since 2020, before the inflation spike began. But over recent sessions, that has recovered back to 2.23%, which is the highest since July 19, before the market turmoil really kicked off in earnest at the start of August. Now clearly that’s pretty low by the standards of recent years. But with fears of a downturn falling back, it’s a sign that markets have become a little bit more cognisant of inflation risk over recent sessions, and gold prices (a classic inflation hedge) closed at another all-time nominal high yesterday of $2,587/oz.

Whilst many central banks have begun to ease policy again, one exception to this pattern of course is the Bank of Japan (BOJ), and their rate hike in July was a contributing factor to the market turmoil in early August. However, in their latest decision overnight, they’ve left their policy rate unchanged, in line with expectations. Their statement warned of “high uncertainties surrounding Japan’s economic activity and prices” and said that “it is necessary to pay due attention to developments in financial and foreign exchange markets”. Separately, data also showed that Japanese inflation picked up as expected, with headline inflation up to a 10-month high of +3.0% in August, having been at +2.8% in July. Against this backdrop, the Japanese Yen has strengthened +0.32% this morning, and is currently trading at 142.18 per US Dollar.

Otherwise in Asia, the region’s equity markets have built on the global rally overnight, with sizeable advances for the Nikkei (+1.90%), the Hang Seng (+1.45%) and the KOSPI (+0.94%). The exception to this have been equities in mainland China, where the CSI 300 (-0.27%) and the Shanghai Comp (-0.23%) are both lower this morning. That comes as the People’s Bank of China left their key lending rates unchanged, with the 1yr loan prime rate staying at 3.35%, and the 5yr loan prime rate at 3.85%.

Those moves in Asia follow a very strong performance in the US and Europe yesterday, with equities surging on both sides of the Atlantic. In the US, this saw the S&P 500 (+1.70%) hit a new record after its best session since early August, with tech stocks leading the way. That meant the NASDAQ was up +2.51%, and the Magnificent 7 saw an even larger gain of +3.44%. Small-cap stocks were another beneficiary, and the Russell 2000 (+2.10%) posted a 7th consecutive advance for the first time since March 2021. Meanwhile in Europe, it was a similar story of tech stocks leading the way, supporting gains for the STOXX 600 (+1.38%), whilst the DAX (+1.55%) hit a new record as well. However, futures are pointing to a pullback again this morning, with those on the S&P 500 (-0.12%) and the DAX (-0.33%) both lower.

Otherwise yesterday, the Bank of England announced their latest policy decision, where they kept their policy rate unchanged at 5%, in line with expectations. That follows their first rate cut of this cycle at the previous meeting, but Governor Bailey warned in a statement that “we need to be careful not to cut too fast or by too much”, even as he said they “should be able to reduce rates gradually over time”. At the meeting, they also voted to reduce their stock of gilts by £100bn over the next 12 months, maintaining the same pace as the previous year.

Against this backdrop, sterling strengthened to its highest level against the US Dollar since March 2022, at $1.3284 by the close yesterday. Similarly against the Euro, it was up to €1.1901. Gilts also underperformed their counterparts elsewhere, with the 10yr yield up +4.5bps, in contrast to yields on 10yr bunds (+0.7bps) and OATs (+1.5bps), which saw smaller rises.

When it came to US Treasuries, there was a fresh bout of curve steepening yesterday, which left the 2s10s at 13bps, the steepest it’s been since June 2022. That steepening has been seen across the yield curve, with the 5s30s up +3.2bps yesterday to 57bps, the steepest since January 2022. That came as the 10yr yield was up +0.9bps to 3.71%, whilst the 2yr yield fell back -3.6bps to 3.58%.

Looking at yesterday’s other data, US existing home sales fell to an annualised rate of 3.86m in August (vs. 3.90m expected), their lowest in 10 months. Separately, the Conference Board’s leading index fell -0.2% (vs. -0.3% expected).

To the day ahead now, and data releases include UK retail sales and German PPI for August. Otherwise, central bank speakers include ECB President Lagarde and the Fed’s Harker.

2B) European report

JPY hit and fixed bid after Ueda, XAU at highs; Fed speak due – Newsquawk US Market Open

Friday, Sep 20, 2024 – 05:36 AM

European bourses are entirely in the red, with the DAX 40 slightly underperforming as Mercedes Benz cuts guidance; US futures are modestly lower
Dollar is flat, JPY underperforms after the BoJ kept rates unchanged (as expected), but with Ueda striking a dovish tone at his press conference
Bonds are slightly bid, taking impetus from the BoJ announcement; Gilts initially underperformed vs peers after hotter-than-expected UK Retail Sales
Crude is slightly subdued, XAU prints record highs again and base metals are generally stronger
Looking ahead, Canadian Producer Prices, Retail Sales, EZ Consumer Confidence, Quad Witching, Comments from BoC’s Macklem, ECB’s Lagarde, Fed’s Harker & Bowman

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BoJ

Decision

BoJ kept its short-term policy rate unchanged at 0.25%, as expected with the decision made by unanimous vote, while it said Japan’s economy is recovering moderately albeit with some weaknesses and inflation expectations are heightening moderately. BoJ also stated that inflation is likely to be at a level generally consistent with the BoJ’s price target in the second half of its 3-year projection period through fiscal 2026 and it sees medium and long-term inflation expectations increasing. Furthermore, it sees exchange rate trends as having a greater influence on prices and said Japan’s economy is likely to achieve growth above potential but also stated that they must be vigilant to the impact of financial and FX market moves on Japan’s economy and prices.

Ueda

Outlook for overseas economies, incl. the US and markets, remains unstable. When asked about remarks from Uchida, says markets remain unstable. Remarks which sparked USD/JPY upside.
Upside price risks have decreased given recent FX moves; risks of an inflation overshoot have somewhat diminished.
No change to the thinking that they will continue to lift rates if the economy develops as expected; will take the next policy step when there is enough evidence.
Aware that more efforts are needed to change market expectations as policy rates have shifted in earnest to positive territory from zero or negative over long period.
Need to watch to see if the US economy attains a soft landing, making a judgement on the US is difficult.

EUROPEAN TRADE

EQUITIES

European bourses, Stoxx 600 (-0.6%) are entirely in the red, but to varying degrees; price action today has been fairly lacklustre, with indices generally slowly drifting lower as the morning progressed.
European sectors hold a strong negative bias; Utilities takes the top spot alongside Telecoms. Autos is by far the clear underperformer, dragged down by Mercedes-Benz (-7.1%) after it cut guidance citing China weakness. Consumer Products and Tech also lag, with the latter hampered by ASML (-2%) after it was downgraded at Morgan Stanley.
US Equity Futures (ES -0.1%, NQ -0.1%, RTY -0.1%) are very modestly softer across the board, taking a breather following the significant gains seen in the prior session.
Nike (NKE) CEO John Donahoe will retire on October 13th, with company veteran Elliott Hill returning to replace him.
FedEx Corp (FDX) Shares tumbled by 13% pre-market following misses on profits and revenue, downward revisisions to the top-end of its guidance range, and warned on macro trends.
Click for the sessions European pre-market equity newsflow
Click for the additional news
Click for a detailed summary

FX

DXY is steady vs. peers (ex-JPY) in what has been an eventful week for the USD after the Fed delivered an outsized 50bps rate cut and sent DXY to a fresh YTD trough at 100.21.
EUR is flat vs. the USD but in close proximity to recent highs. EUR/USD is sitting just below the WTD peak set on Wednesday at 1.1189 with focus on a test of 1.12.
GBP is the marginal outperformer across the majors on account of better-than-expected UK retail sales and yesterday’s “hawkish hold” by the BoE which led markets to no longer fully price a 25bps reduction at the November meeting. Cable is off best levels, however, printed another multi-year high earlier in the session at 1.3340.
JPY is the laggard across the majors, initially unreactive to the BoJ policy announcement, which kept rates unchanged. However, follow-up remarks from BoJ Governor Ueda gave the impression that the Bank was not in a rush to hike rates further as policymakers assess the impact of prior tightening. Accordingly, USD/JPY rose from a 141.75 base to a 143.75 peak but is yet to eclipse yesterday’s 143.94 peak.
AUD/USD’s recent run of gains since Monday has paused for breath with the USD a touch firmer vs. AUD. NZD/USD is seeing uneventful trade with the pair contained within yesterday’s 0.6181-0.6268 band.
PBoC set USD/CNY mid-point at 7.0644 vs exp. 7.0637 (prev. 7.0983).
Chinese major state-owned banks are seen buying dollars in the onshore currency market to prevent the yuan from strengthening too fast, according to sources cited by Reuters.
Click for a detailed summary
Click for NY OpEx Details

FIXED INCOME

USTs are slightly firmer with specifics light thus far for the US but with action coming from the BoJ; while the decision itself was largely uneventful the presser saw a particularly dovish Ueda. Thus far, USTs have probed but failed to breach 115-00 or, by extension, test yesterday’s 115-02+ top. Fed’s Bowman (who dissented at the most recent meeting) is set speak about her decision later.
JGBs climbed by almost 30 ticks during Ueda’s speech and potentially driving the broader modest move higher in USTs/EGBs/Gilts across the morning.
Gilts gapped lower by nine ticks as the benchmark reaction to UK data points from earlier in the morning with strong Retail Sales (buoyed by good weather) sparking a hawkish reaction in GBP at the time a modest but fleeting move in market pricing. The move ultimately proved fleeting, broadly a factor of the JGB upside.
Bunds are towards the top end of a sub-30 tick range with European specifics relatively light aside from a handful of ECB speakers, though commentary was in-fitting with the data-dependent tone and as such did not merit any reaction. At a 134.53 peak, someway shy of Wednesday’s 134.86 best.
Click for a detailed summary

COMMODITIES

Crude complex is slightly softer largely a factor of today’s subdued market sentiment. Brent’Nov sits near the lower end of a USD 74.40-74.87/bbl parameter.
Precious metals are firmer but to varying degrees with spot silver the outperformer, spot gold printing fresh record highs, and spot palladium relatively flat. XAU rose from a USD 2,584.87/oz APAC low to a high of USD 2,612.60/oz in early European hours.
Overall a mixed session for base metals amid the cautious tone elsewhere, but industrials are seemingly still supported by the Fed’s 50bps rate cut alongside reports that China weighs removing major homebuying curbs to boost demand, according to Bloomberg.
Operator of Kazakhstan’s Karachaganak field says it cut oil output on Sept 9-5 due to maintenance; says it will run another round of maintenance on Sept 23-28.
Click for a detailed summary

NOTABLE DATA RECAP

UK Retail Sales MM (Aug) 1.0% vs. Exp. 0.4% (Prev. 0.5%, Rev. 0.7%); YY 2.5% vs. Exp. 1.4% (Prev. 1.4%, Rev. 1.5%)
UK Retail Sales Ex-Fuel MM (Aug) 1.1% vs. Exp. 0.5% (Prev. 0.7%, Rev. 1.0%); YY 2.3% vs. Exp. 1.1% (Prev. 1.4%)
UK GfK Consumer Confidence (Sep) -20.0 vs. Exp. -13.0 (Prev. -13.0)

NOTABLE EUROPEAN HEADLINES

ECB’s Rehn says they have progressed well towards the inflation target, easing pace is data-dependent.
ECB’s de Guindos says they have left the door totally open and in December they will have more information than in October.
BoE’s Mann says she agrees with investors who think inflation could stay above target for an extended period of time. It is better, under inflation uncertainty, to remain restrictive for longer, until right tail risks to the inflation process dissipate, and then to cut more aggressively. Has a guarded view on initiating a cutting cycle despite agreeing with the majority for a hold at the meeting just concluded. Policy needs to remain restrictive to purge inflationary behaviours. Risk of inflation expectations de-anchoring have subsdided. Did consider voting to cut rates in August but wanted to avoid a “boogie-dance” with policy rates.

NOTABLE US HEADLINES

Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association which is the largest union in North America.

GEOPOLITICS

MIDDLE EAST

Israel conducted dozens of strikes in south Lebanon in a major intensification of bombing, according to Reuters citing security sources, while Israeli military later said that their fighter jets struck hundreds of rocket launcher barrels in southern Lebanon that were ready to be used immediately to fire toward Israeli territory, according to Reuters.
“Senior adviser to (Israeli PM) Netanyahu presented the Biden administration with a new proposal for a ceasefire and the liberation of hostages”, via Al Jazeera citing CNN
Hamas source told Al-Arabiya that they are keen to reach an agreement in Gaza.
The US doesn’t expect an Israel-Hamas deal before the end of US President Biden’s term, according to WSJ
“Russia warns of ‘dire consequences’ if Israel launches large-scale military operation in Lebanon“, according to Al Arabiya.

OTHER

Russia says it is concerned by increasingly “provocative” NATO activity on the border with Belarus. Russia notes that it has tactical nuclear weapons in Belarus, says Kyiv and the West risk “disastrous consequences” if they pursue provocative scenarios.
Russian Foreign Minister Lavrov said they see how NATO is increasing its manoeuvres near the North Pole and that Russia is ready to defend its interests militarily, according to Asharq News.
China Defence Ministry spokesperson said US arms sales to Taiwan seriously violated the One-China principle and provisions of China-US joint communiques.

CRYPTO

Bitcoin is incrementally firmer, building on the prior day’s gains and currently reside just above USD 63k.

APAC TRADE

APAC stocks mostly gained following the rally stateside where the S&P 500 and the Dow surged to fresh record highs as the dust settled after the Fed over-delivered in its first rate cut in four years and US data topped forecasts.
ASX 200 followed suit to its US counterparts as tech led the advances and the index printed a new all-time high.
Nikkei 225 outperformed again and approached closer to the 38,000 level, while the BoJ policy announcement provided no major fireworks in which the central bank kept its short-term rates unchanged at 0.25%, as unanimously forecast.
Hang Seng and Shanghai Comp were mixed with the former joining in on the optimism in the region owing to the recent central bank activity and with EV makers finding some encouragement from recent China-EU EV tariff talks. Conversely, the mainland lagged despite the recent pledge by the NDRC to roll out a batch of incremental measures and reports that China is mulling removing major homebuying curbs, while the PBoC also announced China’s latest Loan Prime Rates which were unsurprisingly maintained at their current levels.

NOTABLE ASIA-PAC HEADLINES

Chinese 1-Year Loan Prime Rate (Sep) 3.35% vs. Exp. 3.35% (Prev. 3.35%).
Chinese 5-Year Loan Prime Rate (Sep) 3.85% vs. Exp. 3.85% (Prev. 3.85%).
China weighs removing major homebuying curbs to boost demand and may end distinctions between first and second home purchases, while it may also ease restrictions on non-local homebuyers in Beijing and Shanghai, according to Bloomberg. People familiar with the matter also said authorities are mulling measures to shore up the sluggish stock market but didn’t provide specifics.
China and EU both aim to resolve differences via consultations over the EU investigation into Chinese EVs, while China’s Commerce Minister and EU’s Trade Commissioner are to continue pushing forward negotiations on price commitments and the sides are to spare no effort to reach a mutually acceptable solution through dialogue, according to Xinhua. This followed a previous report that no deal was reached in EU-China talks on EV tariffs and EU’s Dombrovskis said both sides agreed to intensify efforts to find an effective, enforceable and WTO-compatible solution.
USTR office said it will accept public comments from Monday on plans for steep tariff increases on Chinese polysilicon, silicon wafers and tungsten products, according to Reuters.
Republican Senator Rubio is introducing a bill to prevent Chinese companies from benefiting from favourable US trade rules by operating in other countries.
China’s NDRC will cut retail gasoline and diesel prices by CNH 365/ton and CNH 350/ton respectively, starting September 21, via Bloomberg

DATA RECAP

Japanese National CPI YY (Aug) 3.0% vs. Exp. 3.1% (Prev. 2.8%)
Japanese National CPI Ex. Fresh Food YY (Aug) 2.8% vs. Exp. 2.8% (Prev. 2.7%)
Japanese National CPI Ex. Fresh Food & Energy YY (Aug) 2.0% vs. Exp. 2.0% (Prev. 1.9%)

2C ASIAN REPORT.

S&P & Dow hit record highs; BoJ holds rates and European futures point to a softer open – Newsquawk Europe Market Open

Friday, Sep 20, 2024 – 01:56 AM

APAC stocks mostly gained following the rally stateside where the S&P 500 and the Dow surged to fresh record highs as the dust settled after the Fed over-delivered in its first rate cut in four years and US data topped forecasts.
BoJ kept its short-term policy rate unchanged at 0.25%, as expected with the decision made by unanimous vote, with no fireworks; USD/JPY was choppy before heading marginally lower, and 10-year JGBs were eventually subdued.
PBoC maintained LPRs at their current levels as expected; Hang Seng and Shanghai Comp were mixed whilst the Yuan was firmer overnight despite reports of Chinese major state-owned banks seen buying dollars.
European equity futures are indicative of a softer cash open with the Euro Stoxx 50 future -0.4% after the cash market closed higher by 2.2% on Thursday.
Looking ahead, highlights include UK Retail Sales, Canadian Producer Prices, Retail Sales, EZ Consumer Confidence, Quad Witching, Comments from Norges Bank’s Longva & Bache, BoE’s Mann, BoC’s Macklem, ECB’s Lagarde, Fed’s Harker & Bowman.

SNAPSHOT

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US TRADE

EQUITIES

US stocks rallied which saw both the S&P 500 and Dow surge to record highs as the dust settled after the Fed over-delivered in its first rate cut in four years with the advances led by notable outperformance in tech although defensives lagged, while participants also digested better-than-expected data releases including the Philly Fed Index and Initial Jobless Claims which pressured Treasuries.
SPX +1.70% at 5,714, NDX +2.56% at 19,840, DJIA +1.26% at 42,025, RUT +2.10% at 2,253.
Click here for a detailed summary.

BOJ POLICY DECISION

BoJ kept its short-term policy rate unchanged at 0.25%, as expected with the decision made by unanimous vote, while it said Japan’s economy is recovering moderately albeit with some weaknesses and inflation expectations are heightening moderately. BoJ also stated that inflation is likely to be at a level generally consistent with the BoJ’s price target in the second half of its 3-year projection period through fiscal 2026 and it sees medium and long-term inflation expectations increasing. Furthermore, it sees exchange rate trends as having a greater influence on prices and said Japan’s economy is likely to achieve growth above potential but also stated that they must be vigilant to the impact of financial and FX market moves on Japan’s economy and prices.

NOTABLE US HEADLINES

Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association which is the largest union in North America.

APAC TRADE

EQUITIES

APAC stocks mostly gained following the rally stateside where the S&P 500 and the Dow surged to fresh record highs as the dust settled after the Fed over-delivered in its first rate cut in four years and US data topped forecasts.
ASX 200 followed suit to its US counterparts as tech led the advances and the index printed a new all-time high.
Nikkei 225 outperformed again and approached closer to the 38,000 level, while the BoJ policy announcement provided no major fireworks in which the central bank kept its short-term rates unchanged at 0.25%, as unanimously forecast.
Hang Seng and Shanghai Comp were mixed with the former joining in on the optimism in the region owing to the recent central bank activity and with EV makers finding some encouragement from recent China-EU EV tariff talks. Conversely, the mainland lagged despite the recent pledge by the NDRC to roll out a batch of incremental measures and reports that China is mulling removing major homebuying curbs, while the PBoC also announced China’s latest Loan Prime Rates which were unsurprisingly maintained at their current levels.
US equity futures took a breather after recent advances and as the witching hour approaches.
European equity futures are indicative of a softer cash open with the Euro Stoxx 50 future -0.4% after the cash market closed higher by 2.2% on Thursday.

FX

DXY languished beneath the 101.00 level after weakening following the Fed’s recent 50bps rate cut and the risk-on environment, while the various data releases stateside were better than expected but failed to inspire a sustained recovery in the greenback.
EUR/USD took a breather at around the 1.1150 level after recently benefitting from the softer greenback albeit in a choppy fashion.
GBP/USD was uneventful and held on to most of the spoils from the BoE’s hawkish hold, but was slightly off its two-year highs.
USD/JPY traded indecisively following the lack of surprises from the BoJ which kept policy settings unchanged although the pair eventually trickled lower as the central bank had noted that it sees medium and long-term inflation expectations increasing.
Antipodeans eked mild gains amid the positive risk sentiment and a firmer CNY although the upside was capped amid the lack of pertinent data releases, while there were also no surprises in the announcement of the latest Chinese Loan Prime Rates which were kept unchanged.
PBoC set USD/CNY mid-point at 7.0644 vs exp. 7.0637 (prev. 7.0983).
Chinese major state-owned banks are seen buying dollars in the onshore currency market to prevent the yuan from strengthening too fast, according to sources cited by Reuters.

FIXED INCOME

10-year UST futures clawed back some lost ground after recent selling pressure from the firmer US data releases.
Bund futures just about kept afloat following the prior day’s dovish ECB rhetoric and rebound off support at the 134.00 level.
10-year JGB futures lacked demand amid an unsurprising BoJ policy decision and after Japanese CPI data mostly matched estimates.

COMMODITIES

Crude futures marginally pulled back overnight although held on to most of yesterday’s spoils after rallying alongside the broad risk-on sentiment and the escalation of geopolitical tensions in the Middle East.
Spot gold traded rangebound with price action uneventful and contained within post-FOMC ranges.
Copper futures remained underpinned following the recent risk-fuelled momentum.

CRYPTO

Bitcoin gradually advanced overnight and attempted to reclaim the USD 63,000 level.

NOTABLE ASIA-PAC HEADLINES

Chinese 1-Year Loan Prime Rate (Sep) 3.35% vs. Exp. 3.35% (Prev. 3.35%).
Chinese 5-Year Loan Prime Rate (Sep) 3.85% vs. Exp. 3.85% (Prev. 3.85%).
China weighs removing major homebuying curbs to boost demand and may end distinctions between first and second home purchases, while it may also ease restrictions on non-local homebuyers in Beijing and Shanghai, according to Bloomberg. People familiar with the matter also said authorities are mulling measures to shore up the sluggish stock market but didn’t provide specifics.
China and EU both aim to resolve differences via consultations over the EU investigation into Chinese EVs, while China’s Commerce Minister and EU’s Trade Commissioner are to continue pushing forward negotiations on price commitments and the sides are to spare no effort to reach a mutually acceptable solution through dialogue, according to Xinhua. This followed a previous report that no deal was reached in EU-China talks on EV tariffs and EU’s Dombrovskis said both sides agreed to intensify efforts to find an effective, enforceable and WTO-compatible solution.
USTR office said it will accept public comments from Monday on plans for steep tariff increases on Chinese polysilicon, silicon wafers and tungsten products, according to Reuters.
Republican Senator Rubio is introducing a bill to prevent Chinese companies from benefiting from favourable US trade rules by operating in other countries.

DATA RECAP

Japanese National CPI YY (Aug) 3.0% vs. Exp. 3.1% (Prev. 2.8%)
Japanese National CPI Ex. Fresh Food YY (Aug) 2.8% vs. Exp. 2.8% (Prev. 2.7%)
Japanese National CPI Ex. Fresh Food & Energy YY (Aug) 2.0% vs. Exp. 2.0% (Prev. 1.9%)

GEOPOLITICS

MIDDLE EAST

Israel conducted dozens of strikes in south Lebanon in a major intensification of bombing, according to Reuters citing security sources, while Israeli military later said that their fighter jets struck hundreds of rocket launcher barrels in southern Lebanon that were ready to be used immediately to fire toward Israeli territory, according to Reuters.
Israel was reportedly to determine on Thursday night the course of its action on the northern front, according to Sky News Arabia citing Israel Broadcasting Corporation.
Israeli Defence Minister Gallant said Hezbollah feels hounded and will pay an increasing price, while military actions will continue.
Lebanese ministers warned of a dangerous next 48 hours after pager and device attacks, according to CNBC.
Hamas source told Al-Arabiya that they are keen to reach an agreement in Gaza.
US Secretary of Defense Austin has postponed his visit to Israel planned for early next week due to the escalation on the Israeli-Lebanese border, according to Axios citing two Israeli officials briefed on the matter.
White House said they are afraid and concerned about a potential escalation in the Middle East. It was also separately reported that the US doesn’t expect an Israel-Hamas deal before the end of US President Biden’s term, according to WSJ

OTHER

Ukrainian President Zelenskiy said Ukrainian forces have reduced Russian potential for attacks in the eastern Donetsk region and the Ukrainian operation in Russia’s Kursk region has obliged to redirect 40k troops to that area.
Russian Foreign Minister Lavrov said they see how NATO is increasing its manoeuvres near the North Pole and that Russia is ready to defend its interests militarily, according to Asharq News.
China Defence Ministry spokesperson said US arms sales to Taiwan seriously violated the One-China principle and provisions of China-US joint communiques.

EU/UK

DATA RECAP

UK GfK Consumer Confidence (Sep) -20.0 vs. Exp. -13.0 (Prev. -13.0)

2 JAPAN

JAPAN

Yen falters as Ueda sees little urgency to raise rates and yet he sees inflation easing?

(zerohedge)

Yen Plunges After Ueda Sees Little Urgency To Hike Rates As “Upside Risks To Inflation Are Easing”

Friday, Sep 20, 2024 – 09:29 AM

After a week full of central bank fireworks, at least there were no surprises from the Bank of Japan last night, which was in focus as it kept policy unchanged, as expected However, after initially rising, the yen tumbled more than 1% after Governor Kazuo Ueda proved less hawkish than many traders expected, especially after his dramatic hawkish pivot back in July when he not only hike rates but signaled an aggressive tightening campaign, crushing the yen carry trade in the process and sparking the biggest Japanese stock market crash since Black Monday. Ueda signaled little urgency to hike rates, and said that upside risks to inflation are easing, pushing the likelihood of an October rate hike further to the sidelines Friday with a cautious message that pointed to ongoing concern over the market meltdown that followed July’s rate increase.

As Bloomberg notes, following a decision to leave the policy rate unchanged at around 0.25%, the BOJ chief appeared to pour cold water on the already slim chances of an early move next month. Then again, this was to be expected after BOJ Deputy Governor Shinichi Uchida already capitulated more than a month ago, signaling that the BOJ would pick stock market stability over inflation control after the August 5 crash.

“The upside risk to prices does appear to be easing given the recent yen strength,” said Ueda, in a remark that sent the currency in the opposite direction to its weakest level against the dollar for the day, plunging more than 1% at one point as it confirmed the BOJ is done tightening.

“There’s some time to confirm certain points when making policy decisions,” he added, referring to the importance of checking on financial markets and the state of overseas economies. Indeed, with Japan’s core CPI already dropping more than 50% from its 2023 high and back to 2%, it is only a matter of time before the recent yen surge sends both CPI – and wage gains – back to zero if not negative.

The BOJ’s two-day meeting kicked off hours after the Fed conducted a long-awaited policy pivot with an outsized interest rate cut. In doing so, the US central bank joined developed market peers including the Bank of England and European Central Bank in launching an easing cycle, a development underscoring the BOJ’s outlier status as the only major central bank on an upward course.

The yen was down as much as 1.3% versus the greenback, making it the worst-performer among Group-of-10 currencies on Friday, before recovering some losses. Futures contracts for 10-year government bonds rose while overnight-indexed swaps pointed to little chance of the BOJ hiking rates by its October meeting. Swaps suggested just 30% odds of an increase by the December policy gathering.

In a busy week for central banking that saw the Federal Reserve finally embark on rate cuts, the focus of Friday’s events was on the timing of Japan’s next rate hike given an overwhelming consensus the BOJ would stand pat this time. The central bank was seen wanting to monitor the impact of July’s move and to avoid spooking markets again with a surprise.

A hold also keeps the bank out of the spotlight as Japan’s Liberal Democratic Party chooses a new leader on Sept. 27 to take on the role of prime minister. Meanwhile, according to Goldman, Sanae Takaichi may be the next LDP leader and PM. She is a strong supporter of Abenomics and will likely end the BOJ’s hawkish pivot (JPY negative).

Around 70% of economists surveyed before the meeting saw the BOJ on track to raise borrowing costs again by the end of the year with a risk of an early move in October. The governor’s remarks tilted the odds further in favor of December or even January.

“Ueda’s remarks take an October rate hike off the table,” said Hideo Kumano, an economist at Dai-Ichi Life Research Institute and a former BOJ official.

And since by December, Japan’s inflation will be long gone as the country slides into its next recession, the question should be not when the BOJ will hike rates again but rather when it will go NIRP again.

“It’s likely that Ueda intentionally avoided mentioning that the LDP election and a possible national election to follow are adding to uncertainties”, Kumano added; Indeed, the central bank may also want to check on how markets respond to the result of the US election.

And speaking of the coming election, among the nine candidates running to lead Japan’s ruling party, Sanae Takaichi would be the one most likely to complicate the BOJ’s policy normalization plans, as she is known to be an advocate of monetary easing, according to 86% of 36 economists. She’s currently one of the frontrunners alongside Shinjiro Koizumi and Shigeru Ishiba, who are both seen giving the BOJ more free rein to raise rates.

In other words, yet another reason to short the yen, as we told our premium subscribers yesterday.

With the Fed’s move Wednesday intensifying momentum for a global easing campaign, views among BOJ watchers are divided on what sort of trajectory to expect in Japan.

The August market meltdown in the wake of tdoinghe BOJ’s July move triggered the biggest plunge by the Nikkei 225 index in its history, wiping out $1.1 trillion from Japan’s stock market over the course of three trading days. While stock prices have since pared losses, volatility in the market has stayed at the highest among major global indexes.

“I think that the timing of next rate hike will depend on the economic conditions overseas in the coming months, especially in the US,” said Chotaro Morita, chief strategist at All Nippon Asset Management Co. “I see this as rather delaying the BOJ’s policy decisions.”

The BOJ still has plenty of reasons to favor raising rates over the medium term. The bank has repeatedly indicated that real interest rates are still deeply negative and supportive of the economy, but ultimately it all comes down to the wealth effect, and as Japan’s economy slows down, the central bank will have no choice but to boost the stock market through the only means it can: a weaker yen.

Ahead of the Ueda press conference, the bank had raised its assessment of consumer spending, a key engine of economic growth, and cited the need to monitor financial markets. Following another uptick in the inflation rate, it also reiterated that it expects price growth to continue in line with its goal in the latter half of its projection period. The statement earlier in the day had led to some yen strengthening against the dollar that was quickly reversed as Ueda spoke. Having strengthened to 141.74 against the dollar, the yen then reversed course as market players concluded that the wait for the next rate hike might be longer than expected.

“There’s a lack of clarity for the global economy, especially around the US economy,” Ueda said. “Overall, we’re not at a stage where we should immediately hike rates even if certainly rises for our outlook.”

3 CHINA

CHINA/JAPAN

China’s collapsing economy playing havoc to Japanese automakers

(zerohedge)

China’s Collapsing Economy Adds To Headwinds For Japanese Automakers

by Tyler Durden

Friday, Sep 20, 2024 – 12:05 PM

By Momoka Yokoyama, Bloomberg Markets Live reporter and strategist

Shares of Japanese automakers are finding no respite as China’s deepening economic woes damp sentiment already weighed down by concerns over a US slowdown and a rebound in the yen.

The three biggest in Japan — Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. — slashed production in China as they lose market share to local manufacturers of electric vehicles and a slumping housing market weighs on domestic consumption. The companies relied on the world’s largest automobile market for more than 16% of their sales in July.

Automakers worldwide are seeing sales slump in China amid a sluggish economy and concerns the nation’s producers will pose a competitive threat to incumbent names. A slight improvement in China’s consumption during a major holiday this week from its pre-pandemic level did little to lift sentiment.

“China’s weak domestic demand will have a global impact, and that will be quite a terrible story for Japan too,” said Tetsuo Seshimo a portfolio manager at Saison Asset Management in Tokyo.

Automakers are trying to adapt to the new landscape. Honda has cut jobs and paused production at plants in China amid an effort to trim inventories and work on a broader shift in strategy. Nissan said in June that it ceased production at a plant in Changzhou. That was preceded by Mitsubishi Motors Corp.’s move last year to suspend local operations as car sales slumped and China shifted to electric vehicles.

The effort may be too little, too late. Japan’s automobile-related shares are down 17% this quarter, the second-worst performer of the Topix’s 33 industry groups. Their index is headed for a sixth month of declines after Japan’s auto exports to China plunged almost 31% in August from a year earlier.

But growing optimism that the US will avoid a recession may help stem future losses after the Federal Reserve cut interest rates by 50 basis points in a push to preserve the strength of the world’s largest economy.

An overwhelming majority in a survey of Bloomberg Terminal subscribers expect a soft landing for the US economy, with 75% forecasting that it will avoid a technical recession by the end of next year.

Japan’s three largest automaker get at least 39% of their revenue from North America, making it their biggest overseas market, according to data compiled by Bloomberg.

However, an economic slump in China isn’t the only concern for automakers, said Saison Asset’s Seshimo. China’s growing auto industry may gradually take market share away from Japan’s carmakers, causing them to suffer the same fate as the nation’s appliance makers, he said.

Chinese automaker BYD Co. already has 40% of total EV volume in Thailand compared with Japanese brands at under 1%, according to Bloomberg Intelligence analysts Steve Man and Joanna Chen.

“Chinese companies are likely to go on offense with a pricing war abroad, potentially intensifying competition with the Japanese names,” said Mamoru Shimode, chief strategist at Resona Asset Management.

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

HOLLAND/HUNGARY

ROBERT H TO US;

Europe Invasion on X: “

BREAKING NEWS Hungary will be joining the Netherlands in requesting an opt-out of the EU migration pact. MEGA: Make Europe Great Again!” / X

🚨BREAKING NEWS

Hungary will be joining the Netherlands in requesting an opt-out of the EU migration pact.

MEGA: Make Europe Great Again!
— Europe Invasion (@EuropeInvasionn) September 19, 2024

end

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

END

end

ISRAEL.HEZBOLLAH.

Hezbollah under fire: The number of casualties from beeper explosions is worse than we thought

While the official death toll stands at 32, on-the-ground estimates point to dozens more, as explosions in Lebanon expose Hezbollah’s severe vulnerabilities.

By MAARIVSEPTEMBER 20, 2024 03:42

A person is carried on a stretcher outside American University of Beirut Medical Center (AUBMC) as people, including Hezbollah fighters and medics, were wounded and killed when the pagers they use to communicate exploded across Lebanon. Beirut, Lebanon September 17, 2024. (photo credit: REUTERS/MOHAMED AZAKIR) — A person is carried on a stretcher outside American University of Beirut Medical Center (AUBMC) as people, including Hezbollah fighters and medics, were wounded and killed when the pagers they use to communicate exploded across Lebanon. Beirut, Lebanon September 17, 2024.(photo credit: REUTERS/MOHAMED AZAKIR)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-820982&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240919_3d0cdf4c066b5086b1ba12e979df03dab023040f&useBunnyCDN=0&themeId=140&unitType=tts-player

The Lebanese Health Ministry has reported 32 deaths as a result of communication device explosions that occurred over the past two days, in addition to 2,400 injured, including 1,300 severely or moderately, Maariv reported on Thursday.

Following these events, Lebanese media has reported that wireless communication devices, such as beepers and walkie-talkies, would be prohibited on planes, which may indicate concern about the impact of these devices on national security.

Meanwhile, an official in the IRGC instructed officials to distance themselves from their phones, apparently due to concerns about possible vulnerabilities or sensitive information leaks. These steps indicated the growing regional tension and the need to maintain security. Maariv also reported that specialized military units have been detonating suspicious beepers and communication devices in various areas.

According to Maariv, Israel’s official count of those dead and wounded in Lebanon is significantly lower than reality.

Estimates have indicated that there are dozens of fatalities. Hezbollah’s Radwan Force suffered significant damage, losing part of its command and dozens of fighters.

People gather outside a hospital in Beirut, Lebanon, September 17, 2024 (credit: REUTERS/MOHAMED AZAKIR)

The numbers

According to reports, at least 450 people were injured in the mass explosion of communication devices across Lebanon, with an additional 3,000 Hezbollah members who were injured from beeper explosions.

ISRAEL/HEZBOLLAH/LEBANON (south)

IDF to conduct large-scale training in all firing zones in northern Israel over weekend

By JERUSALEM POST STAFFSEPTEMBER 19, 2024 21:40

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-820956&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240919_3d0cdf4c066b5086b1ba12e979df03dab023040f&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF will conduct large-scale training exercises in all northern area firing zones over the coming weekend, the IDF announced on Thursday.

The military emphasized that entering the firing zones is strictly prohibited and can be life-threatening. They noted that gunfire and explosions may be heard in nearby communities.

END

ISRAEL/HEZBOLLAH/LEBANON (south)

Over 1000 ready-to-launch rockets in South Lebanon destroyed in IDF strike

These strikes come only days after the far-reaching Hezbollah communications explosion, spanning two days, wounding thousands and killing at least 30 people.

By YUVAL BARNEASEPTEMBER 19, 2024 23:56Updated: SEPTEMBER 20, 2024 04:46

IAF jets strike weapons depot in Lebanon's Bekaa Valley, August 19, 2024. (photo credit: screenshot via X/ section 27a copyright act) — IAF jets strike weapons depot in Lebanon’s Bekaa Valley, August 19, 2024.(photo credit: screenshot via X/ section 27a copyright act)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-820973&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240919_3d0cdf4c066b5086b1ba12e979df03dab023040f&useBunnyCDN=0&themeId=140&unitType=tts-player

IDF fighter jets struck hundreds of rockets that were ready for immediate launch into Israeli territory, the IDF announced on Thursday night.

Starting on Thursday afternoon, a total of about 100 rocket launchers and other military infrastructure were attacked, including about 1,000 rockets that were ready for immediate launch, the IDF said.

Three Lebanese security officials told Reuters that these were “the heaviest aerial strikes since the conflict began in October.”

According to reports in Lebanese media, cited in Israeli media, the number of attacks ranged from about fifty to seventy throughout Lebanon in only about twenty minutes.

These strikes come only days after the far-reaching Hezbollah communications explosion, spanning two days, wounding thousands and killing at least 30 people.

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

On Sunday, the Israeli cabinet voted to officially add the return of residents to the North as an official war goal.

Threatening vengeance

Hezbollah threatened to respond, with leader Hassan Nasrallah live streaming a speech on Thursday in which he goaded Israel, daring it to attack.

“We are waiting for you to enter Lebanese territory. We are waiting for your tanks and will see this as a historic opportunity.”

Nasrallah’s speech was dripping with symbolism with references to Surah Al-Hajj, verse 39, which permits Muslims to fight defensive wars, to the red background symbolizing revenge.

These strikes, in combination with the explosions, are only the latest series of defeats that pose serious questions for the terrorist organization.

Fuad Shukr, one of the most senior Hezbollah commanders, was assassinated in July, for which Hezbollah threatened vengeance.

Hezbollah’s planned retaliation at the end of August was thwarted by an IDF preemptive strike involving more than 100 strikes across the south of the country.

END

Same story as above:

(TIMES OF ISRAEL)

IDF hits more than 100 loaded Hezbollah launchers in series of major Lebanon strikes

After strikes, army tells residents of several northern communities to stay near bomb shelters; Metula mayor reports ‘tremendous damage’ after rockets hit buildings, spark fires

By Emanuel Fabian, Follow
Agencies and ToI StaffToday, 12:02 amUpdated: 20 September 2024, 2:48 am

Smoke and fire rise from the site of an alleged Israeli strike on the southern Lebanese border village of Mahmoudiyeh on September 19, 2024. (Rabih Daher/AFP)

Israel carried out dozens of strikes on Thursday across southern Lebanon, in what Lebanese security sources said were some of the most intense bombings since Hezbollah began daily cross-border attacks on northern communities after the start of the Gaza war on October 7.

The military said fighter jets had struck over 100 Hezbollah rocket launchers in southern Lebanon that were primed for immediate attacks on Israel. It said that in total, the launchers included around 1,000 launch barrels.

Several buildings and a weapons depot belonging to Hezbollah were also struck in several areas of southern Lebanon, according to the military.

The strikes began in the afternoon and were carried out in several waves.

“The IDF continues to damage and degrade the terror capabilities and military infrastructure of the Hezbollah terror organization,” the military added.

Following the strikes, the IDF published a list of guidelines for civilians in several communities and cities in northern Israel, telling them to remain close to bomb shelters.

The guidelines apply to civilians in the Merom HaGalil Regional Council, Upper Galilee Regional Council, Mevo’ot HaHermon Regional Council, Yesud HaMa’ala, Hatzor, Rosh Pina, Safed, Metula, and towns in the Golan Heights from Katzrin and northward.

The IDF called on civilians in those areas to reduce movement outside of homes, avoid large gatherings, guard the entrances to the communities and remain close to bomb shelters, with the guidelines in place until further notice.

The major airstrikes came after a heavy barrage of rockets from Lebanon on northern communities, and as the Israeli defense establishment put preparations for a possible all-out war with Hezbollah into full gear.

Eli Bin, head of the Magen David Adom rescue service, told the Ynet news site that he had received reports that an MDA station in Metula suffered a direct hit. There were no injuries reported, he said.

David Azoulay, the mayor of Metula, released a statement reporting “tremendous damage” from rockets that struck a number of homes and sparked fires.

“I haven’t seen anything like it since the start of the war,” he said.

Earlier on Thursday, two IDF soldiers, Maj. (res.) Nael Fwarsy, 43, a logistics company commander from Maghar, and Sgt. Tomer Keren, 20, of the Golani Brigade’s 51st Battalion, from Haifa, were killed in Hezbollah missile and drone attacks on northern Israel. Nine soldiers were also wounded in the attacks.

Also Thursday, as Hezbollah leader Hassan Nasrallah delivered a televised address, vowing revenge on Israel for this week’s deadly wave of explosions of portable devices belonging to the terror group’s operatives in Lebanon and Syria, Defense Minister Yoav Gallant held a situational assessment on what he called “a new phase in the war.”

Gallant said that the IDF would continue strikes in Lebanon in order to fulfill the newly officialized war goal of returning displaced northern residents to their homes.

“Hezbollah is feeling persecuted,” he said in a video statement. “There are significant opportunities, but also heavy risks.”

We will bring our communities home. As time goes by, the price paid by Hezbollah will increase. pic.twitter.com/6u6zAfZoUv
— יואב גלנט – Yoav Gallant (@yoavgallant) September 19, 2024

“The sequence of our military operations will continue,” Gallant said during a meeting with the IDF’s top brass and other defense officials.

“Our goal is to return the residents of the north to their homes safely. As time goes by, Hezbollah will pay an increasing price,” he said.

“At the same time, we will continue and carry out the effort to return the hostages and dismantle Hamas,” Gallant added.

The major airstrikes in Lebanon came as Israeli military officials were set to present the political echelon, including Prime Minister Benjamin Netanyahu, with various plans for the northern front during a meeting on Thursday evening, amid the heightened tensions.

IDF sources said the military was seeking to return displaced Israelis to their homes without causing the conflict with Hezbollah to expand to a regional multi-front war.

The IDF has been on heightened alert following the recent events in Lebanon, and expects that the coming days may also be intense.

Israel has not taken responsibility for the communication device attacks in Lebanon in the past two days that killed dozens of people, the vast majority of them terror operatives, and injured thousands.

In the past few days, the IDF has been holding continuous assessments, and presenting plans to the political echelon. Earlier on Thursday evening, IDF Chief of Staff Lt. Gen. Herzi Halevi approved new battle plans.

Also Thursday, the IDF announced that on Monday it foiled an attempted bombing attack against troops on the Lebanon border.

The military released footage from a GoPro camera found on the body of one of the gunmen.

Timesofisrael.com/idf-hits-more-than-100-loaded-hezbollah-launchers-in-series-of-major-lebanon-strikes/

https://customer-b1ezbl4fz7l5vj5n.cloudflarestream.com/b3391f84731f45bc0b820e7ee58e1d75/iframe

According to the military, troops of the Golani Brigade and other commandos were stationed in an ambush near the so-called Tziporen Post in Upper Galilee.

On Monday, surveillance soldiers of the 869th Combat Intelligence Collection Unit spotted two suspects approaching the border, and the Golani soldiers and commandos opened fire and directed artillery shelling and a drone strike against the gunmen, killing both.

According to the IDF, the gunmen planned to plant a bomb in the area.

END

ISRAEL/HEZBOLLAH/ANALYSIS

With little fanfare, IDF pulls off 2nd largest official attack on Hezbollah of year – analysis

This many rockets mostly in southern Lebanon significantly impacts what Hezbollah can do to counter strike Israel for the events of this week.

By YONAH JEREMY BOBSEPTEMBER 20, 2024 08:02Updated: SEPTEMBER 20, 2024 10:05

An F-35 Adir from the 140th squadron takes part in an Israeli air force air show during the graduation ceremony for soldiers who have completed the IAF Flight Course, at the Hatzerim Air Base in the Negev desert, June 29, 2023. (photo credit: OFER ZIDON/FLASH90) — An F-35 Adir from the 140th squadron takes part in an Israeli air force air show during the graduation ceremony for soldiers who have completed the IAF Flight Course, at the Hatzerim Air Base in the Negev desert, June 29, 2023.(photo credit: OFER ZIDON/FLASH90)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-820990&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240919_3d0cdf4c066b5086b1ba12e979df03dab023040f&useBunnyCDN=0&themeId=140&unitType=tts-player

You might not have noticed because this time there was no press conference, but the IDF overnight between Thursday and Friday pulled off the second largest official attack on Hezbollah of the year.

The air force’s destruction of 100 Hezbollah rocket launchers and 1,000 rockets, mostly in southern Lebanon is not just another counter strike, but has strategic consequences for Hezbollah’s capabilities.

A “normal” Israeli attack takes out dozens or fewer rockets.

This many rockets mostly in southern Lebanon significantly impacts what Hezbollah can do to counter strike Israel for the events of this week.

Although Israel has still not taken public credit for Tuesday-Wednesday’s mass device explosions which wounded somewhere between 3,000-4,000 Hezbollah operatives, including senior commanders, Hezbollah and the whole world have assumed that it was Israel, and by Wednesday, Israeli officials were doing much less to hide.

Smoke rises on the Lebanese side of the border between Israel and Lebanon after an Israeli airstrike, as seen from northern Israel, November 18, 2023 (credit: REUTERS/EVELYN HOCKSTEIN)

Hezbollah had 150,000 rockets pre-war. But not all rockets are equal. And it did not have 150,000 rocket launchers.

For example, Iran has 3,000 ballistic missiles but only around 100-250 launchers.

On August 25, Israel had destroyed around 250 Hezbollah launchers and multiple thousand of the terror groups’ rockets, against mostly in southern Lebanon.

This does not mean that the group cannot mount large attacks on Israel – it still can.

Hezbollah’s military capabilities

But Jerusalem is starting to chip away: on August 25, last night, and according to Hezbollah on Tuesday-Wednesday with the explosive devices – at the quality of how Hezbollah could attack the Jewish state on short notice, especially short range rockets on the North.

The IDF has been wary of sharing how deep its penetration of Hezbollah’s inventory is.

But there is no question that last night’s attacks, along with August 25 and other events this week, are far more than a tactical setback to Hezbollah.

In a very real way, its broad capabilities to wage a large war on Israel, and specifically on the Northern border, are starting to be impacted.

ISRAEL/BEIRUT LEBANON //FRIDAY MORNING

IDF strikes Beirut, Lebanon after Hezbollah unleashes rocket barrage on North

The IDF noted that the Home Front Command’s defensive guidelines for Israeli residents are currently unchanged.

By JERUSALEM POST STAFF, REUTERSSEPTEMBER 20, 2024 15:57Updated: SEPTEMBER 20, 2024 16:20

A US Air Force B-1b heavy bomber was escorted by an IAF F-15 fighter jet above Israeli airspace on October 30, 2021 (photo credit: IDF SPOKESPERSON'S UNIT) — A US Air Force B-1b heavy bomber was escorted by an IAF F-15 fighter jet above Israeli airspace on October 30, 2021(photo credit: IDF SPOKESPERSON’S UNIT)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-821030&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20240919_3d0cdf4c066b5086b1ba12e979df03dab023040f&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF conducted a targeted strike in Beirut, the military announced on Friday afternoon.

The IDF noted that the Home Front Command’s defensive guidelines for Israeli residents are currently unchanged.

צה"ל תקף באופן ממוקד בביירות – בלבנון מדווחים: התקיפה כוונה לבניין מגורים | תיעוד מהדאחיהhttps://t.co/2NMHeVtQ3O | @ndvori pic.twitter.com/ufxfhYex4k
— החדשות – N12 (@N12News) September 20, 2024

A thick cloud of smoke could be seen rising over the Lebanese capital Beirut on Friday, according to a Reuters live feed, after residents in the southern suburbs of the city said they heard a loud blast.

The Hezbollah-owned Al-Manar claimed that more than one strike targeted an area in southern Beirut.

The strike follows massive Hezbollah rocket attacks on northern Israel overnight on Thursday and Friday.

Throughout the rocket attacks fired by the Iranian Lebanese proxy, some 50 homes in the Israeli border community of Metulla were reportedly damaged.

Additionally, rocket falls and shrapnel sparked fires across several locations in the North.

This is a developing story.

END

ISRAEL/HEZBOLLAH LEBANON

Fire breaks out on playground in North as Hezbollah fires roughly 140 rockets

Fires erupted in the area of Safed following the barrage that set off sirens throughout northern Israel.

By KESHET NEEV, SAM HALPERNSEPTEMBER 20, 2024 13:24Updated: SEPTEMBER 20, 2024 15:57

Firefighters at the site of a wildfire following a missiles attack from Lebanon, in the northern Israeli city of Kiryat Shmona, September 18, 2024. (photo credit: AYAL MARGOLIN/FLASH90) — Firefighters at the site of a wildfire following a missiles attack from Lebanon, in the northern Israeli city of Kiryat Shmona, September 18, 2024.(photo credit: AYAL MARGOLIN/FLASH90)

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A playground in the northern Israel city of Safed was hit by a rocket during a barrage of over 100 rockets that targetted Israel’s North on Friday, Israeli media reported, noting that fires were ignited in the area as a result of the barrage.

The IDF later reported that roughly 120 rockets had crossed from Lebanese territory into Israel after sirens sounded in the Golan Heights, Safed, and the Upper Galilee areas. Another approximately 20 rockets crossed into northern Israel after sirens sounded in the Meiron and Netua areas.

A fire broke out at the playground itself following the rocket hit, according to media reports. There were no reported injuries as a result of the incident, although one man in the Golan was lightly wounded from the shrapnel of a rocket, according to a Ynet report.

Additional fires erupted in the area of Safed following the barrage as well, media reports noted.

המטח לצפון: נפילה בגן משחקים בצפת, שריפה פרצה במקום. לא דווח על נפגעים@Doron_Kadosh pic.twitter.com/qrtJljOjTb
— גלצ (@GLZRadio) September 20, 2024

While rockets and shrapnel did fall, igniting fires in several areas, the IDF stated that Israel’s Aerial Defense Array managed to intercept others.

Fire and Rescue Services subsequently responded to combat the blazes that had erupted in the North, the military added.

Over half of houses in Metullah damaged since October

Separately, following an overnight rocket barrage, some 50 houses in the northern Israel community of Metulla sustained damage from rockets fired from Lebanon overnight, according to an assessment of the damage, Maariv reported on Friday.

According to the report, over 300 houses in the community have now been damaged since Hezbollah started firing rockets and launching drones at northern Israel on October 8 of last year.

This figure reportedly represents about half of the houses in Metulla.

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Hezbollah takes responsibility for barrage

Following the Friday barrage, Lebanon’s Hezbollah announced seven separate attacks on Israeli targets with Katyusha rockets.

The barrage came one day after Hezbollah leader Hassan Nasrallah broadcasted a Thursday speech in which he vowed to punish Israel for the Hezbollah device explosion attacks that took place on Tuesday and Wednesday.

In the televised speech, Nasrallah stated that Israel would face “a crushing response from the axis of resistance. “Tuesday and Wednesday were bloody days, but we will be able to overcome this ordeal, and this blow won’t bring us down,” he added.

IDF strikes Hezbollah targets

In the IDF’s Friday afternoon statement, the military reported that the Israeli air force struck a terrorist military structure in the Kfarkela area of southern Lebanon shortly after troops observed a Hezbollah operative entering the site.

https://player.jpost.com/public/player.html?player=jpost&media=3773316&url=www.jpost.comIsraeli strikes on Hezbollah terrorists and infrastructure in southern Lebanon. September 20, 2024. (Credit: IDF Spokesperson’s Unit)

The IAF also reportedly struck Hezbollah infrastructure in the southern Lebanese areas of Aitaroun, Kfarkela, Meiss El Jabal, Tayibe, Odaisseh, and Yaroun.

In conjunction, the military reported that artillery units fired on targets across southern Lebanon as well.

Reuters contributed to this report.

END

ISRAEL/BEIRUT

IDF strike in Beirut’s Dahiyeh said to target senior Hezbollah figure Ibrahim Aquil

Aquil wanted by US over 1983 Beirut barracks bombing, directing taking of hostages * After heavy barrage at north, army tells civilians to limit movement outside their homes

IDF strike kills Hezbollah Radwan Force chief Ibrahim Aqil in Beirut – report

The IDF noted that the Home Front Command’s defensive guidelines for Israeli residents are currently unchanged.

By SAM HALPERN, YONAH JEREMY BOBSEPTEMBER 20, 2024 15:57Updated: SEPTEMBER 20, 2024 17:23

Plane flies as smoke rises from Beirut southern suburbs, Lebanon, September 20, 2024 (illustration). (photo credit: REUTERS) — Plane flies as smoke rises from Beirut southern suburbs, Lebanon, September 20, 2024 (illustration).(photo credit: REUTERS)

The IDF conducted a targeted strike in Beirut, the military announced on Friday afternoon. Media reports named the primary target of the strike as Radwan Force commander and head of Hezbollah Operations, Ibrahim Aqil.

AFP, citing a source close to Hezbollah, reported that Aqil perished in the strike.

Earlier, Reuters reported that a thick cloud of smoke was seen climbing over the Lebanese capital, adding that residents of the city’s southern suburbs reported hearing a blast.

According to unconfirmed reports, the strike hit a meeting between Palestinian and Hezbollah officials.

The IDF noted that the Home Front Command’s defensive guidelines for Israeli residents are currently unchanged.

צה"ל תקף באופן ממוקד בביירות – בלבנון מדווחים: התקיפה כוונה לבניין מגורים | תיעוד מהדאחיהhttps://t.co/2NMHeVtQ3O | @ndvori pic.twitter.com/ufxfhYex4k
— החדשות – N12 (@N12News) September 20, 2024

Ibrahim Aqil (illustrative) (credit: REUTERS/Ali Hashisho, Canva)

“We are in a new phase of the war and continue to pursue Hezbollah,” an Israeli official told Ynet after the strike. “We are preparing for a response. Everything is on the table.”

The Lebanese Health Ministry claimed that three had been killed in the strike and that another 17 were wounded.

The Hezbollah-owned Al-Manar claimed that more than one strike targeted an area in southern Beirut.

Lebanese media placed the site of the strike, or strikes, at the Al-Qaim neighborhood of Beirut.

Rocket sirens sound in North after strike on Aqil

Roughly an hour after the strike, drone intrusion sirens sounded across northern Israel, including the cities of Safed and Kiryat Shmona.

The strike follows massive Hezbollah rocket attacks on northern Israel overnight on Thursday and Friday.

Throughout the rocket attacks fired by the Iranian Lebanese proxy, some 50 homes in the Israeli border community of Metulla were reportedly damaged.

Additionally, rocket falls and shrapnel sparked fires across several locations in the North.

Previously, on January 2, the IDF killed Wissam al-Tawil, known as Jawad, a key Radwan operations commander in southern Lebanon. Akil subsequently replaced Jawil.

This is a developing story.

END

Same story as above

(zerohedge)

Rare Israeli Attack On Beirut Kills Hezbollah Commander, Decimates Building

Friday, Sep 20, 2024 – 10:05 AM

Many international headlines are claiming that this is not yet ‘all-out war’ between Israel and Hezbollah, but it is sure looking like a full-fledged war at this point, especially given on Friday Israeli aircraft carried out a major strike on Beirut.

Huge explosions could be seen and heard for miles, in an apparent “targeted strike” on a southern suburb of the capital city. Reports say that senior Hezbollah commander Ibrahim Akil was killed in the attack. An official has told AFP he was killed in the strike.

Videos and images from the scene show entire blocks and buildings decimated in the heavily-populated area known as Dahiyeh.

Beirut-based Al-Mayadeen TV is saying that a drone fired several missiles on the area in a very rare and brazen attack on the capital. But a Lebanese national broadcaster has said it was Israeli Air Force Jets:

Lebanon’s National News Agency (NNA) is reporting that five children are among victims of a strike on a building in the area of Jamous Street, southern Beirut.

The agency added that an F35 jet targeted the residential area with two strikes.

Earlier in the day Friday Hezbollah launched at least 140 rockets on northern Israel, in a steady uptick of attacks since Thursday in the wake of Hezbollah Secretary-General Hassan Nasrallah’s speech vowing not to stop the attacks in the wake of Israeli intelligence’s pager attack.

Beirut now

If you speak out against Israel's attack on a sovereign country, you'll be labeled anti-Semitic. – EU media pic.twitter.com/nl3u0eYYcy
— Russian Market (@runews) September 20, 2024

And regional media is reporting further on this major escalation: “It is not the first time that Beirut’s southern suburb is targeted, but images emerging from the scene show a building almost totally destroyed, so it is likely there will be civilian casualties,” an Al Jazeera correspondent writes.

In the wake of this new Beirut action, Israel’s President Isaac Herzog has said on X the Gaza war and new operations in Lebanon are necessary to bring “the displaced citizens from north and south to their homes, schools, and businesses.” Some 80,000 or more have been evacuated from their homes since Oct. 2023.

The scene below suggests the attack was carried out by several missiles, likely launched from a jet which can carry heavier munitions.

🚨MORE FOOTAGE OF THE AFTERMATH OF ISRAEL'S AIRSTRIKES IN BEIRUT

Yet another Israeli attack to terrorise Lebanon's🇱🇧 population, initial reports on the ground say there are multiple fatalities and dozens of casualties pic.twitter.com/s4KVESnZ9N
— Afshin Rattansi (@afshinrattansi) September 20, 2024

“I repeat again and again – we did not want this war. We do not want war – not today, not ever,” President Herzog wrote further. “Last night, we saw the precise and impressive actions of Israel’s Air Force against Hezbollah. We salute them, along with all our security forces, for their tremendous efforts in this difficult war,” he added.

Aqil has also long been wanted by the United States:

developing…

end

UPDATE: FRIDAY AFTERNOON

Looks like the 10 Radwan commanders were eliminated. Maybe more

(zerohedge)

Nine Killed, 59+ Wounded, In Israeli Attack On Beirut Which Took Out Hezbollah Elite Commander

Friday, Sep 20, 2024 – 12:40 PM

Update(1240ET): The death toll has continued to grow following the Friday after Israeli aerial strike on a southern suburb of Beirut. Lebanon’s Health Ministry says nine people have been killed and at least 59 injured, as emergency crews continue picking though the rubble of a leveled residential building.

Authorities say children are also among the victims in the neighborhood of Dahiyeh, which is densely populated. The Israeli Army says it has killed a top Hezbollah commander, identified as Ibrahim Akil; however, Hezbollah has yet to confirm or deny. He’s said to have served as head of the group’s elite special forces. The state-run Lebanese National News Agency has said five children are among the dead.

Currently some big claims are coming out of Israeli leadership, though these statements remains unconfirmed on the ground… if true it will be a huge blow to Hezbollah:

🚨🚨An Israeli official said that the entire senior command of Hezbollah's Radwan force was eliminated in the strike (around 20 commanders) https://t.co/wtUzmRShhD
— Barak Ravid (@BarakRavid) September 20, 2024

The Iranian Embassy in Beirut has meanwhile condemned what it called the “Israeli madness” of targeting residential buildings.

end’

(zerohedge)

Israel Says 10 Commanders Of Elite Hezbollah Unit Eliminated In Beirut Airstrike

Friday, Sep 20, 2024 – 02:55 PM

Update(1305ET): The Israeli military has announced its air strike in Beirut Friday afternoon which killed Ibrahim Aqil, the chief of Hezbollah’s elite Radwan unit, additionally killed in total some ten commanders of the Shia paramilitary group.

“We targeted those responsible for the daily rocket fire, Ibrahim Aqil along with senior commanders from the Radwan force. About 10 commanders were killed there,” Rear Admiral Daniel Hagari, spokesman for the IDF, told a media briefing.

Lebanese sources have yet to confirm this, but have instead focused on the mounting civilian casualties. Lebanon has in its latest update said 12 total have been killed, without identifying who they were. Official tallies stand at 66+ wounded. “Removing the rubble is still ongoing until this moment,” emergency workers said.

END

ISRAEL/HEZBOLLAH ANALYSIS

Israel has turned the tables on Hezbollah, now what comes next? – analysis

After many months where it seemed Israel was only responding proportionately to Hezbollah’s attacks, it now appears that Israel is turning the tables.

By SETH J. FRANTZMANSEPTEMBER 20, 2024 21:27

Ibrahim Aqil (illustrative) (photo credit: REUTERS/Ali Hashisho, Canva) — Ibrahim Aqil (illustrative)(photo credit: REUTERS/Ali Hashisho, Canva)

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The IDF turned the tables on Hezbollah after eleven months of attacks by the Iranian-backed terrorist group. The IDF eliminated Ibrahim Aqil on Friday, only two days after Hezbollah walkie-talkies exploded and three days after thousands of Hezbollah members were injured by exploding pagers.

After many months where it seemed Israel was only responding proportionately to Hezbollah’s attacks, it now appears that Israel is turning the tables. Whether that will turn the tide of the war is not yet clear.

“I can now confirm that Ibrahim Aqil was eliminated together with other senior terrorists in Hezbollah’s Radwan Forces,” an IDF spokesperson said.

Who is Ibrahim Aqil?

Aqil has been a wanted terrorist for decades by the US for his role in killing Americans during bombings in the 1980s.

The IDF accused him of planning a major attack on Israel similar to the October 7 attack that Hamas carried out. Israel is now proving that its claim it can reach anyone who threatens Israelis is true.

People inspect the site of an Israeli strike in the southern suburbs of Beirut, Lebanon, September 20, 2024. (credit: REUTERS/MOHAMED AZAKIR)

Too big to fail?

Hezbollah is now suffering setback after setback. It is fearful and in chaos. It is also embarrassing. Its aging leadership such as Hassan Nasrallah and Naim Qassem must wonder if they still have enough cards in their hand to play. They have a large arsenal of rockets and missiles, and they have many new drones they have built, but are they ready for a major war? Is Hezbollah too big to fail? It will be consulting with Iran about its next moves.

Hezbollah has had an equation in its attacks on Israel since October 7. It began its attacks on October 8 targeting northern Israel. Israel evacuated northern communities. Hezbollah has mostly attacked the evacuated communities, usually claiming to target Israeli military sites.

In general, the Hezbollah attacks, of which there have been more than 8,500, have caused damage and also killed people, but they have not been a game-changer in terms of the war.

Hezbollah was prodded by Iran to attack to take the pressure off Hamas and create a multi-front war with Israel. It has settled into a routine of attrition. It sees this as an equation that it can benefit from. Israel has now turned the tables and upset the equation, driving through it and destroying its parameters.

Hezbollah has lost Fuad Shukr, a key commander, in July after it killed 12 people in Majdal Shams. It has lost dozens of its commanders in southern Lebanon.

Let’s review this Hezbollah posture for a second. Hezbollah’s Nasser unit controls the area from Bint Jbeil to the east, basically up to Mount Hermon. Taleb Sami Abdallah was the commander of the Nasser division. He was killed in June.

Muhammad Neamah Nasser was the commander of Hezbollah’s western Aziz division which controls the area from Bint Jbeil to the coast. He was killed in March.

The Hezbollah Aziz division controls an area that faces off against the IDF’s 300th Territorial Brigade which commands the western sector of the northern Galilee under the IDF’s 91st Division.

In essence, the key Hezbollah commanders controlling the border threats to Israel have been eliminated. In addition Radwan Force leader Wissam Tawil was also killed in January 2024.

Israel has eliminated around fifty percent of the Hezbollah commanders in southern Lebanon.

However, the slow drumbeat of eliminating Hezbollah commanders took place over time. In 11 months Hezbollah lost around 450 fighters. The group then suffered unprecedented losses on September 17 with around two dozen of its members killed due to the pager explosions and the September 18 walkie-talkie explosions. This brings the total to more than 470 Hezbollah members killed.

Hezbollah is now off balance. It prided itself on being an elite organization that functioned well, like a kind of state with an army. Now it is in a kind of chaos. As Israel stirs the pot, Hezbollah is making mistakes. It wants to lash out.

The meeting with Aqil and Radwan force commanders was probably a meeting designed to plot the next step for Hezbollah. Now Aqil is eliminated. This is a reminder of the days when Israel eliminated Hamas leader Sheikh Ahmed Yassin in March 2004 and then also killed Hamas leader Abdel Aziz Rantisi the next month. This is how terror organizations can suffer setbacks.

However, the question is now whether Israel will exploit this turning of the tables. So far Iran has kept Hezbollah and other proxies in the drivers seat in terms of dictating the tempo of operations. Israel was reacting while focusing on Gaza and the West Bank. Now Israel may be ready for the northern front.

The question is what Iran and Hezbollah will do.

END

ISRAEL/IRAQ/SYRIA\

Iraq’s Kataib Hezbollah says one of its terrorists killed in ‘Zionist attack’ on Damascus

By JERUSALEM POST STAFFSEPTEMBER 20, 2024 09:07Updated: SEPTEMBER 20, 2024 15:17

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Iraq’s Kataib Hezbollah armed group announced that one of its terrorists was killed in what they called a “Zionist attack” in the Syrian capital Damascus, the group said in a statement on Telegram on Friday.

At least one person was killed in a vehicle attack around the area of the Damascus airport in Syria on Friday, according to Israeli media reports.

Additionally, it was reported that the person killed in the attack was a senior figure in the Iraqi Hezbollah brigades, according to Israeli media citing the Saudi Al-Hadath channel.

This is a developing story.

end

RUSSIA/IRAN

RUSSIA

END

RUSSIA/UKRAINE/EUROPE

ROBERT H//IMPORTANT

Are we the silenced lambs?

Over many months writings have been penned cautioning that a broader conflict was coming outside of Ukraine. Sadly while watching the unfolding of True horrors yet to materialize in a greater plain. We only have to look to Ukraine now or Gaza or remember what was done to Iraq etc. to appreciate these horrors of war are expanding. Many people are using to seeing fright and destruction on the internet or on TV or in a movie but have not experienced the true horror of war first hand.

Only those families who have lived through it or had family that has experienced this can truly attest. Conflict is bad enough for those who live it and die. But it also extends to the families of the survivors. We are now quickly approaching a point where we may well be witness or victim to this horror ourselves. And no government never asks us whether we are ready to die or experience the hardships of war. Nor does government tell us when our own Soldiers die in foreign adventures. No doubt there will be little press about the communication hub in Ukraine destroyed earlier this week because it was staffed by NATO types. It was wiped out. And we will heard perhaps of strange deaths of higher parties killed in so called domestic accidents. While the real truth remains buried until the day it is not.

Please take the time to read this because we all need to understand in our own lives how a widening conflict will affect us.

The European Parliament passed a resolution on Sept. 19 calling for EU member states to lift restrictions on Ukraine’s use of Western-supplied weapons inside Russia.

The motion was passed with 425 votes in favor, 131 against, and 63 abstentions. There was no public input. And likely there will little public coverage. However this makes the EU a party to the conflict. And it also affects America because hitting any targets deep within Russia can only be done with American Satellites for targeting information. North America will not sit this out. This is not a hidden event but now in the open as the quest for a widening war grows.

This is public Russian Parliamentary response:

Speaker of the Russian Duma Vyacheslav Volodin:

“For those who did not understand the first time, today, the European Parliament called on the EU countries to lift restrictions on Kiev’s long-range strikes on our country’s territory, to increase military support for Ukraine, and to announce a collection of funds from the population of Europe for the needs of the Armed Forces of Ukraine.

I will repeat again. If something like this happens. Russia will give a tough response using more powerful weapons.

No one should have any illusions about this. The State Duma insists on this.

Questions for the members of the European Parliament:

Did you consult with your voters before making this decision?

Do the citizens of European countries want war to come to their home?

What the European Parliament is calling for leads to a world war using nuclear weapons.

Before making such a decision, it was necessary to remember the lessons of World War II. Then, 27 million Soviet citizens died in the fight against fascism.

It was our country that liberated you and all of Europe. Remember this. Do not forget.

Judging by the statement of the European Parliament, you have apparently forgotten.

The citizens of our country know what war is, it has passed through every family. The victory over Nazism came at a high price.

The USA and England, who call themselves the victors today, lost less than 800,000 people in World War II. Our losses in the Battle of Stalingrad alone were 1,130,000 people.

The only thing the European Parliament should do after such a statement is to dissolve itself.

For your information, the flight time of the Sarmat missile to Strasbourg is 3 minutes 20 seconds.”

A Sarmat missile can carry up to 12 warheads. They do not have to be nuclear warheads. Paralysis of infrastructure is simple enough to cause real casualties and damage that takes months or years to fix.

Whatever comes forth it is more than likely that the future will not be a peaceful one

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

ROBERT H TO US:

Study Finds Spike Mutations Help COVID Infect the Brain | The Epoch Time

https://www.theepochtimes.com/health/study-finds-spike-mutations-help-covid-infect-the-brain-could-have-long-covid-implications-5723967

END

MARK CRISPIN MILLER

DR PAUL ALEXANDER

Fatal Cardiac (heart) & Neurological (brain) Complications Post Malone Bourla Bancel Sahin Weissman et al. COVID-19 mRNA technology gene Vaccination; 5.9% neurological complications & 2.5% were fatal

Malone et al. mRNA vaxx linked to near 90.0% of cardiac complications; viral vector vaccines associated with slightly over half (52.6%) of the neurological complications; see LIONESS OF JUDAH MINISTRY

Dr. Paul AlexanderSep 19

READ IN APP

‘A total of 698 vaccinees were included in this review, of which 259 (37.1%) had cardiac and 439 (62.9%) had neurological complications. Inflammatory conditions were the commonest among the cardiac complications; while polyneuropathy, demyelinating diseases and cerebrovascular disorders were the more common neurological complications. The mean age of those with cardiac complications (33.8 years) was much younger than those with neurological complications (49.7 years). There was no notable difference in the gender distribution between these two groups of vaccine recipients. mRNA vaccines (all brands) were associated with almost 90.0% of the cardiac complications, whereas viral vector vaccines were associated with slightly over half (52.6%) of the neurological complications.’

https://doi.org/10.3390/vaccines12060575

EVOL NEWS

SLAY NEWS

The latest reports from Slay News

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EVOL

Approximately 20 Attendees On Stage At Trump Rally Reportedly Experience Mysterious Symptoms – Eye Irritation, Facial Swelling & Blurred Vision – EVOL READ MORE…

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

Rabobank Goes Apeshit On Powell’s Orwellian Rate Cut

Thursday, Sep 19, 2024 – 12:25 PM

Some hilarious, and absolutely spot on, excerpts from the reaction note by Rabobank’s Fed-watcher Philip Marey who clearly isn’t getting invited to the Marriner Eccles ~~Christmas~~, pardon, Holiday party this year.

Here are the highlights from the report which equates what Powell said with the worst parts of 1984.

If there was a strong case for a 50 bps cut, Powell did not make it at his press conference. He repeatedly stressed that the US economy was strong, but we should see the strong move as a commitment to keep the economy strong.

Doctor: “We’ll give you extra strong medication.”

Patient: “Is my condition that bad?”

Doctor: “No, you’re healthy, but we’re committed to keep you healthy.”

In the end, it looks like Powell felt the level of the policy rate was out of sync with the progress on inflation and the rise in the unemployment rate. After all, he used the word ‘recalibration’ several times. This was also evident in the FOMC projections now showing a 100 bps reduction compared to the pre-meeting level of the target range, rather than the 25 bps in the June projections. Although Powell denied that the Fed had fallen behind the curve, this is exactly what recalibration means. However, the latter obscures the former and Powell did not want to admit that they should have cut 25 bps in July. It got really funny when he said that the FOMC had been patient in waiting and this allowed them to make a strong move. Yes, if you get behind the curve, you have to make a big leap forward to catch up!

* * *

The recalibration argument is clashing with the message this large cut sends. When asked during the Q&A what his message to the US consumer is, Powell said that the US economy is in a good place and our decision is to keep it there. Really? A 50 bps cut as a message that the economy is strong? So if they cut by 75 bps the economy is booming? This sounds like something out of George Orwell’s 1984:

WAR IS PEACE

FREEDOM IS SLAVERY

IGNORANCE IS STRENGTH.

Understandably, a reporter asked whether the 50 bps cut meant that he was more concerned about the labor market than about inflation. However, Powell denied this and said that the risks are roughly balanced. This exchange underlined the problem.

* * *

During the press conference, Powell had trouble clearly explaining the reason for the large cut, because he did not want to admit that this ‘recalibration’ was needed because the FOMC had fallen behind the curve. Meanwhile, the large cut seemed counterintuitive to the repeated claim that the economy was strong.

* * *

In the past, the Fed only cut 50 bps at the start of a cutting cycle in case of a severe deterioration in the economy or markets, such as the dot com bubble and the Global Financial Crisis.

* * *

Powell had a clear incentive to deliver a 50 bps cut before Election Day, because Trump has already made clear that he would not reappoint him as Fed Chair. In fact, he may decide to remove him prematurely. So Powell’s only chance of another term is by pleasing Kamala Harris and her fellow Democrats in the Senate. In fact, on Monday three Democratic senators – Elizabeth Warren, Sheldon Whitehouse and John Hickenlooper – sent a letter to the Fed urging a 75 bps cut. However, the other voters in the FOMC should have seen the greater political risk to the institution from providing a jumbo cut without compelling support from the data or the forecasts just before the election. There was only one dissenter.

* * *

Although Powell’s message was a mess, our argument for 50 bps would be the deterioration in the labor market that is likely to end up in a mild recession. However, by cutting 50 bps when you think the economy is strong, you may be wasting valuable ammunition if your assessment of the economy is right. What if there is a sudden deterioration in the economy or the markets, do we then get a 75 bps cut? Starting with 50 bps without compelling data or forecasts means that you are blunting your interest rate tool. Meanwhile, with a 50 bps cut the Fed is taunting former and possibly next President Trump. This could have serious repercussions next year. The sole dissenter, Michelle Bowman, may just have improved her chance of becoming the next Fed Chair.

* * *

Looking ahead, if this was truly a recalibration and 50 has not become the new 25, we still expect 25 bps at each of the three upcoming scheduled meetings in November, December and January. As we have said before, what happens after January will to a large extent depend on the economic policies of the next administration. A Trump victory would likely lead to a universal tariff and a rebound in inflation that should stop the Fed’s cutting cycle in its tracks. A Harris victory would likely be less inflationary and give scope for additional rate cuts in 2025.

The full Rabobank report can be found here. We give the last word to Kyle Bass who, along with Donald Trump, said it best:

The

@federalreserve ‘s large rate cut can be explained by only two scenarios: 1. Jerome Powell and his cadre of elite economists see the U.S. economy falling off a cliff…or 2. It’s a couple of weeks before early voting

The @federalreserve ‘s large rate cut can be explained by only two scenarios:

1. Jerome Powell and his cadre of elite economists see the U.S. economy falling off a cliff…or

2. It’s a couple of weeks before early voting
— 🇺🇸 Kyle Bass 🇹🇼 (@Jkylebass) September 19, 2024

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 FRIDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR: 1.1157 UP 0.0003

USA/ YEN 144.27 UP 1.41NOW 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 TRYING TO RE ESTABLISH

GBP/USA 1.3293 UP 0012

USA/CAN DOLLAR: 1.3573 UP 0013 (CDN DOLLAR DOWN 13 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 0,49 PTS OR .03%

Hang Seng CLOSED UP 245.41 PTS OR 1,56%

AUSTRALIA CLOSED UP 0.24%

// EUROPEAN BOURSE: ALL MOSTLY RED EXCEPT SPAIN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL MOSTLY RED EXCEPT SPAIN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 245,41PTS OR 1,56%

/SHANGHAI CLOSED UP 0.49 PTS OR .03%

AUSTRALIA BOURSE CLOSED UP 0.24%

(Nikkei (Japan) CLOSED UP 568,58 POINTS OR 1,53%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2615.10

silver:$31,30

USA dollar index early FRIDAY morning: 100.56 UP 23 BASIS POINTS FROM THURSDAY’s CLOSE.

FRIDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing FRIDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.780% UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.849% DOWN 0 AND 4/ 100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3,007 UP 2 in basis points yield

ITALIAN 10 YR BOND YIELD 3.578 UP 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2145 UP 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY

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

Euro/USA 1.1147 DOWN .0012 OR 12 basis points

USA/Japan: 144.16 UP 1.30 OR YEN IS DOWN 130 BASIS PTS//

Great Britain 10 YR RATE 3.9465 UP 2 BASIS POINTS //

Canadian dollar DOWN .0014 OR 14 BASIS pts to 1.3577

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY ON SHORE CLOSED UP AT 7.0560 (ON SHORE)

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.0558)

TURKISH LIRA: 34.11 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.849

Your closing 10 yr US bond yield UP 4 in basis points from THURSDAY at 3.749% //trading well ABOVE the resistance level of 2.27-2.32%)

USA 30 yr bond yield 4.074 DOWN 1 in basis points /11:00 AM

USA 2 YR BOND YIELD: 3.631 UP 2 BASIS PTS.

GOLD AT 11;00 AM 2605,35

SILVER AT 11;00: 31,04

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

London: CLOSED DOWN 98.73 PTS OR 1.19%

German Dax : CLOSED DOWN 262.37 OR 1.49%

Paris CAC CLOSED DOWN 115,15PTS OR 1.51%

Spain IBEX CLOSED DOWN 24.80 OR 0.21%

Italian MIB: CLOSED DOWN 282,61 OR 0.82%

WTI Oil price 71.66 12 EST/

Brent Oil: 73.99 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 92.58ROUBLE DOWN 0 AND 40/100

GERMAN 10 YR BOND YIELD; +2.2145 UP 2 BASIS PTS.

UK 10 YR YIELD: 3.9465 UP 2 BASIS POINTS

CDN 10 YEAR RATE: 2.981 UP 1 BASIS PTS.

CDN 5 YEAR RATE: 2.778 UP 1

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1116 UP 0.0006 OR 6BASIS POINTS

British Pound: 1.3318 UP 0.0037 OR 37 basis pts

BRITISH 10 YR GILT BOND YIELD: 3.9040UP 5 BASIS PTS//

JAPAN 10 YR YIELD: 0.847

USA dollar vs Japanese Yen: 143.78 UP .890 DOWN 89 BASIS PTS//

USA dollar vs Canadian dollar: 1.3557 DOWN0.0006 CDN dollar UP 6 BASIS PTS

West Texas intermediate oil: 71.77

Brent OIL: 74.77

USA 10 yr bond yield UP 1BASIS pts to 3.725

USA 30 yr bond yield UP 4 BASIS PTS to 4.069%

USA 2 YR BOND: DOWN 4 PTS AT 3.574

CDN 10 YR RATE 2.954UP 1 BASIS PTS

CDN 5 YEAR RATE: 2.748 DOWN 1 BASIS PTS

USA dollar index: 100.45 UP 9 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.12 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 92.37UP 1 AND 13/100 roubles

GOLD 2,622.25 3:30 PM

SILVER: 31.21 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 37.08 PTS OR 0.09%

NASDAQ DOWN 63.71 PTS OR 0.35%

VOLATILITY INDEX: 15.92 DOWN 0.41PTS OR 2.51%

GLD: $242.21 UP 3.04OR 1.27%

SLV/ $28.41 UP ,32OR 1.14%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Gold, Oil, & Crypto Soar As Fed Slashes Rates With Stocks At Record Highs

by Tyler Durden

Friday, Sep 20, 2024 – 04:00 PM

“everything is awesome”… so awesome The Fed needed a crisis-like 50bps cut to keep it awesome!

Stocks are at record highs (no landing at all); home prices are at record highs (and rising fast); and US macro data has dramatically surprised to the upside since the last FOMC meeting…

Source: Bloomberg

…but bonds are 35bps lower in yield (recession)…

Source: Bloomberg

…so it makes perfect sense that The Fed would slash rates by a crisis-like 50bps.

All the majors were higher on the week, but faded gains today amid the biggest September OpEx ever. Small Caps outperformed its index peers on the week. Everything felt very technical this week as today’s Quad Witch (biggest September OpEx ever) seemed to drag everything in equity land higher yesterday with selling pressure erupting today as the opening options expired and continuing to the lows of the day…

Goldman’s trading desk notes that overall activity levels are surging (+33% vs. the trailing 2 weeks with market volumes down -11% vs the 10dma) with their floor tilting -12% better for sale, this ranks in the 97th %-ile over the last 1yr.

HF are -10% better for sale with their short ratio at 53%. They are better seller in every sector ex-Fins. Supply is heaviest in Macro Prods, Tech and Cons Disc.
LOs are now +17% better to buy after starting the session slightly better for sale. Demand very concentrated in Tech, followed by HCare, Fins & Energy. Supply is limited to Utes.

Most Shorted stocks were squeezed hard on Wednesday but since then the machines have not been able to ignite any momo…

Source: Bloomberg

The basket of Mag7 stocks face-ripped up to their prior record high but was unable to push through it…

Source: Bloomberg

Utes surged today on the ‘Power Up AI’ trade (sponsored by MSFT) but the Energy sector outperformed on the week, while Real Estate lagged bigly (sell the news on rate-cuts?)…

Source: Bloomberg

Treasury yields were mixed on the week with the short-end actually lower (admittedly only 1bps) while the long-end rose 9bps…

Source: Bloomberg

The last time yields rose after a 50bps rate cut was in October 2008 and things didn’t end too well that time.

But there’s no recession ahead according to stocks, despite the market pricing in massive rate-cuts…

The yield curve dramatically bear-steepened this week to its steepest since May 2022…

Source: Bloomberg

The upper-left part of the rates volatility surface, the area most sensitive to central bank policy rates, has been heavily offered over the past couple of sessions after the Federal Reserve appeared to rule out a continued course of half-point rate cuts and reflecting a more measured policy approach for the rest of this year and into next year.

Source: Bloomberg

Despite major volatility, the dollar index ended the week unchanged…

Source: Bloomberg

Crude oil prices rallied strongly this week off three-year lows as ‘tank bottoms’ loom at Cushing. This was oil’s best week since Oct 2023.

Source: Bloomberg

Bitcoin had a big week (best two weeks since July), pushing back above $64,000 to one-month highs…

Source: Bloomberg

This was the best week for ETH relative to BTC since May (when the ETH ETFs launched)…

Source: Bloomberg

Gold soared to new record highs today, above $2600 (with the best two weeks since April)…

Source: Bloomberg

Finally, one can’t help but wonder if we are about see That 70s Show replay in CPI…

Source: Bloomberg

Is global liquidity about explode once again to enable that re-ignition of inflation?

Source: Bloomberg

…or how much do stocks have to fall before The Fed Put is triggered?

Bear in mind that stocks have NEVER been more expensive relative to the economy (total US market cap back up to 200% of GDP…

Source: Bloomberg

Buffett would be rolling in his grave if he were dead!

Secure your wealth against inflation with JM Bullion.

MORNING TRADING

AFTERNOON TRADING///

II USA DATA

III USA ECONOMIC COMMENTARIES

LOS ANGELES

Violence in the City of Angels!

(zerohedge)

Los Angeles Struggles To Curb Brazen And Violent Street Takeovers

Thursday, Sep 19, 2024 – 10:15 PM

Authored by Beige Luciano-Adams via The Epoch Times (emphasis ours),

Two infernos, a vandalized storefront, a Metro bus slamming into three cars, drones spitting fireworks at drifting, souped-up muscle cars. Relatively, it was a tame Labor Day Weekend in Los Angeles County, where illegal street takeovers continue to terrorize neighborhoods that have been co-opted as tourist attractions for drivers and spectators seeking internet clout.

Contemporary “takeovers”—in which drivers commandeer intersections and perform dangerous stunts for a scrum of onlookers—are a kind of successor to classic California car cultures including drag racing, cruising, lowriding, and sideshows.

But propelled by the manic, mimetic spectacle of social media, they have become a uniquely dangerous part of the landscape.

Vehicle thefts, shootings, flash mob robberies, and pedestrian fatalities associated with illegal racing and takeovers have all increased from pre-pandemic levels, according to officials.

Law enforcement agencies say they are cracking down with a zero tolerance approach, and a multi-agency task force dedicated to addressing the issue, investing in educational programming and diversion, enhancing technology, and deploying street modifications has been used at problem intersections.

Despite all this, the problem appears increasingly unhinged.

“What we’re seeing is this increase in violent behavior—looting, cars on fire. Recently, we had two kids shot and one murdered at a takeover, at a spin,” Craig Valenzuela, commander of the Los Angeles Police Department’s (LAPD) Traffic Group, told the L.A. County Board of Supervisors at a July 30 meeting.

He was referring to a July 22 incident in which two 15-year-olds involved in a takeover were shot after an alleged robbery, including one fatally.

“That’s really what concerns us—it’s the level of violence and us trying to get in there to end those and keep our communities safe.”

At the meeting, other agencies and county staff presented a final report on illegal racing and takeovers in unincorporated county areas, nearly a year in the making.

They painted a rather bleak picture, acknowledging the scope and scale of the problem, and the fact that existing enforcement, as well as outreach efforts by authorities—seeking to influence the behavior of an anti-authority youth subculture—are not working.

“It has risen to that level where we really need to dedicate all of our resources and address this epidemic that’s wreaking havoc on our communities,” L.A. Assistant Sheriff Myron Johnson told the board.

Supervisors ultimately voted to direct staff and the Los Angeles Sheriff’s Department (LASD) to report back on funding and an action plan in 60 days.

To advocates who have been lobbying for years to stave off the inevitable casualties of illegal racing and takeovers, it seems a long time coming.

“Unfortunately, I think it caught everyone by surprise,” said Lili Trujillo Puckett, founder of Street Racing Kills, referring to a surge of takeovers during the pandemic.

Puckett founded her organization after her 16-year-old daughter, Valentina, was killed in a street racing crash in 2014. She now runs diversion programs for youth offenders, as well as legislative and education campaigns.

“There were no laws in place. I started asking for bills a long time ago, but nobody saw it was a problem,” she told The Epoch Times.

Donald Galaz, founder of Project Street Legal, an organization focused on providing legal venues for street racing, says the problem has outgrown law enforcement’s ability to corral it.

“It’s just way out of control,” he said. “No task force is ever going to stop it—there are too many individuals, these kids out there, they just continue to move from place to place.”

Galaz is a longtime member of the Brotherhood of International Street Racers, a group that developed legal avenues for racing, which he credits with getting him off the streets and out of gangs in his youth. And while there is a “level of disrespect” and chaos in today’s takeovers that wasn’t part of the covert sideshows and drag racing of previous decades, then largely confined to industrial areas and parking lots, he says officials could still put a major dent in the problem by giving kids a safer alternative.

“I’ve been advocating for this for over 12 years—let’s do something. I’ve been through many city council members and mayors that promise to help,” he said. Galaz said he ran phone banks for a mayoral campaign, but the effort ended in a long line of “unkept promises” to address the issue.

“In the meantime, people are dying. The public is at risk. Businesses are getting destroyed. Streets are getting destroyed,” he said. “And then you see on the news all the time that people are getting killed, and still elected officials have done nothing.”

Uneven Impact

The destruction tends to be concentrated in certain areas, and often perpetrated by people who live elsewhere, say locals.

The city of Compton has long been an epicenter of Southern California car culture, home to motorcycle and racing clubs, and a Sunday lowrider cruise that continues to this day.

But in recent years, it’s also become a hotbed for out-of-towners in search of street cred and Instagram likes, a launching pad for drivers to make their name.

“If you want internet clout, you have to go to Compton,” Galaz said. “That’s no secret.”

During a July 28 takeover in the city, California Highway Patrol (CHP) arrested 63 spectators, issued 66 citations, and impounded 28 vehicles, according to the agency.

Recent LASD data show the vast majority of takeovers in the first quarter of this year—219 out of 289—happened in the county’s Second Supervisorial District, which includes South L.A. and parts of the Harbor Region. Most of those were in the cities of Compton and Carson, which had 90 and 109 incidents, respectively. This is an increase over the previous quarter, when there were 173 takeovers in the District, out of a total 234 incidents, with 74 and 58 in Compton and Carson.

Meanwhile, the Fourth and First Districts, which cover the southeastern and eastern parts of the county, had 55 and 15 incidents in the first months of 2024. There were no takeovers reported in District Three, which includes West L.A. cities, or District Five, which covers the northern part of the county.

“The increase in illegal street takeovers is deeply troubling,” Compton Mayor Emma Sharif told The Epoch Times. “It goes against the values of our city—it really does. This issue has had a severe impact on our community, affecting both the safety and the well being of residents.”

Both Compton and Carson do not have their own police forces but contract with the L.A. Sheriff’s Department, which coordinates with other agencies like the CHP on traffic enforcement. Carson city officials did not respond to a request for comment.

Looking at LAPD data for the city of Los Angeles, it appears that street racing and takeovers peaked in 2020, with 912 incidents. There were 319 in 2019, and the numbers have fluctuated since, dropping to 482 last year.

That shows redistribution, not eradication, observers say.

“Just because it has peaked in the city of Los Angeles doesn’t mean it’s gone down across the county,” Damian Kevitt, executive director of the nonprofit Streets Are for Everyone, told The Epoch Times.

As the LAPD’s street racing task force has gotten more aggressive, he said, the crackdown has pushed the problem to outlying communities like Compton and unincorporated areas.

The CHP, which enforces vehicle code in Los Angeles County, responded to 100 street takeovers, issued 2,000 citations, arrested 500 people for reckless driving, driving under the influence, spectating, and weapons offenses, and impounded more than 400 vehicles in unincorporated areas of L.A. County last year, according to the agency.

“Street racers will show up, do their takeovers, spend 45 minutes—they know how long it will take for the task force to do their thing, then they’re off to the next location,” said Kevitt.

LASD and LAPD data show takeovers increased in the first months of 2024 in both the county and the city, but the county saw an overall 15 percent dip in the second quarter over the first, from 289 to 245 incidents, LASD officials told the board at the July meeting.

That’s still more than the fourth quarter of last year, and Compton is trending upward.

‘More Brazen, More Violent’

In its June 12 report responding to a directive from the city council, the LAPD pointed to the diminishing ability of law enforcement officers and first responders to intervene at takeovers, which often include hundreds of spectators and countless vehicles.

Spectators use laser pointers to blind officers and helicopters, launch fireworks at police, intentionally ram and swarm cars, and resist arrest.

“I think they feel like they’re untouchable,” Galaz said. “And because it’s one police unit with two officers that shows up, they’re outnumbered right off the bat. So now you’ve got these kids that are out there blocking the cars, throwing rocks and bottles and shooting fireworks and doing that type of stuff to the police. … They just don’t care.”

Street racing has always been anti-authoritarian, but Galaz notes racers used to be more concerned with demonstrating their skills than taunting law enforcement.

“The last thing we wanted to do was get the attention of law enforcement while we’re out trying to get something done, you know? But it seems like they’re taunting them,” he said. “I don’t understand the logic behind wanting to do these things and just the amount of disrespect.”

Law enforcement and first responders are already stretched thin by budget deficits, understaffing, and an all-consuming homelessness crisis. For all the above reasons, agencies are looking to outsource some policing to technology.

“We’re not going in the center of the takeover anymore. It’s just too dangerous for us,” CHP South L.A. Commander Joe Zivi told the board in July. “There is no doubt these takeovers are more brazen, more violent.”

The CHP already monitors hotspots with helicopters and airplanes equipped with infrared technology and recording that can be used for prosecution, and soon it will have high-powered cameras to read license plates in real time, which they hope to bring to judges to get 30-day seizures, and then impound the vehicles at a later date, Zivi said.

Meanwhile, LASD hopes to expand a pilot program that uses drones to help with racing and takeover enforcement, while some cities are initiating their own programs.

In March, Carson debuted a new drone policy to “enhance city services,” and in April, it announced the installation of a multi-million-dollar, “state-of-the-art” surveillance system across the city to help “reduce suspicious activity” and increase stolen vehicle recovery as part of LASD’s License Plate Recognition Camera Project.

But some question the logic of investing in high-tech cameras to photograph license plates when many of the cars involved are stolen—and the drivers may be long gone by the time police show up.

Culture Clash

For older generations in racing and cruising scenes, contemporary takeovers and their attendant chaos are casting a long shadow.

“I think the car culture has been, and still is under attack from different angles,” Galaz said. “People will say law enforcement is just taking the fun out of things. But then the takeovers are giving a black eye to the whole culture,” he said.

Developed by Mexican Americans in the post-WWII era, lowriding is a beloved and recognizable part of the Southern California cultural mosaic, memorialized in art exhibitions, books, films—and now imitated by adolescents with disposable income in places such as Saudi Arabia.

Last year, Governor Gavin Newsom signed a bill legalizing lowriding and cruising—or driving “low and slow” to show off modified classic cars, overriding previous restrictions.

At the July 30 board meeting, public speakers from racing and lowrider clubs came out to remind the government that cruising is legal and should not be painted with the same brush as illegal takeovers.

Rep. Gaetz: DHS Knows Of 5 “Assassination Teams” Targeting Trump

Thursday, Sep 19, 2024 – 09:00 PM

Authored by Ken Silva via HeadlineUSA.com,

Rep. Matt Gaetz, R-Fla., made the startling claim Thursday that there are at least five known assassination teams in the U.S. conspiring to assassinate Donald Trump.

Gaetz told Just the News and Breitbart that a senior Homeland Security official told him about the five assassination conspiracies before Sunday’s latest attempt on Trump at his West Palm Beach golf course.

“Three of them that we know are foreign in nature. Two of them we know are domestic in nature, and that calls for a force protection that we do not have around the former president right now,” Gaetz said said, adding that DHS officials are “aware of this and were concerned that the Secret Service was not providing sufficient support.”

“Three of these teams are foreign-inspired, from my understanding – Iranians, Ukraine, Pakistan – and, you know, the work is obviously challenging to protect—protective detail, like a presidential campaign that is vigorous and out campaigning,” Gaetz said.

Matt Gaetz says the DHS knows of 5 assassination teams targeting President Trump, 3 of which are "inspired by other governments," 2 of which are domestic.

Follow: @AFpost pic.twitter.com/WgCctwbu20
— AF Post (@AFpost) September 19, 2024

Gaetz didn’t go into detail about the alleged assassination teams.

Sunday’s would-be assassin, Ryan Routh, may have been the Ukrainian-inspired conspiracy he referred to. As has been widely documented, Routh went to Ukraine in 2022 and claimed to have helped recruit fighters for the country’s war against Russia.

Routh’s actions in Ukraine apparently disturbed his colleagues there. One of them, a nurse named Chelsea Walsh, reported him to Customs and Border Protection in June 2022.

Walsh again reported him to the FBI and Interpol last year, after she heard that was attempting to recruit Syrian refugees to fight in Ukraine.

“She filed an online report with the FBI and Interpol outlining her concerns about Routh and others, she said. Neither Customs nor the FBI followed up with her,” the WSJ reported earlier this week.

One of the other plots cited by Gaetz is likely related to the Pakistani man arrested on July 12 for allegedly trying to hire undercover FBI agents to assassinate Donald Trump.

Internal FBI documents leaked to Sen. Chuck Grassley, R-Iowa, earlier this month included new information about the Pakistani terrorist’s alleged Iranian handler, as well as his movements and interactions in the U.S.

Both Merchant and Routh have pled not guilty in their respective cases.

END

this is a very important read.

May I add one more: derivative default especially in gold and silver

(Malanen)

The Fed Pivots (Panics)

Friday, Sep 20, 2024 – 07:20 AM

Via Tuomas Malinen’s Forecasting Newsletter,

During the past week, we at GnS Economics forecasted that the Federal Reserve will cut by 25bps. Our reasoning was this:

However, the ‘super-core’, measuring services inflation, less energy services, rose by 4.9%, and 0.4% in month-over-month basis. This was the largest monthly increase in the index since April. We assume that this killed all hopes for a 50bps cut next week, because Fed Chair Jerome Powell has described super-core as the “the most important category for understanding the future evolution of core inflation”.

I still stand by this forecast, from a purely economic perspective, because the numbers were clear. Inflation pressures are picking up again. Moreover, retail sales and industrial production came in stronger than expected (0.1% and 0.8% M-o-M). The ‘green shoots’ of the U.S. economy, I reported a week ago, also suggested that the private sector recession may be ending, while risks are abound. The Fed must have seen the improving credit data.

The last time the Fed cut by 0.5% was in October 8, 2008, three weeks after the collapse of the venerable investment bank Lehman Brothers. This was the time when panic was gripping the markets with the Great Financial Crisis (GFC) surfacing with the failure of Lehman Brothers (the crisis had been brewing under the surface since September 2007).

Make no mistake. 50bps cut, is a panic cut. So, why did the Fed panic?

Most likely, there were four reasons:

The Fed is racking up massive losses.
Political pressure to not crash the markets before the Presidential elections on November 5 (last FOMC meeting before).
The Federal Reserve is genuinely worried about the economy, but especially about debt levels.
Banking sector fragility.

Like I noted two weeks ago, the Fed is accumulating massive losses from its holdings of Treasuries and corporate bonds. This is because it has bought them when they were much more expensive (rates were lower). When rates rose, the value of Treasuries collapsed, generating heavy losses for the Fed.

Monthly summation of remittances of the Federal Reserve due to the Treasury. Source: Miguel Castro and Samuel Jordan-Wood.

So, the one reason the Fed wants to lower rates (to increase the value of Treasuries) is because it wants to save its own *ss, by increasing the value of the Treasuries it holds. A central bank that holds large quantities of government bonds is never even semi-independent, because their value dictates the credibility of the Bank. The Fed tried to go around this problem by labelling the losses as deferred assets. That is, it marked losses as “assets” in its balance sheet. It is obvious that such blatant accounting fraud can fly only for so long. So, the Fed needed to cut to ease the financial burden, on itself.

Markets were expecting a 50bps cut, and so were some of the politicians. However, in actuality, a 50bps cut may turn up badly for the markets, because it signals that the Fed sees some serious weakness in the economy.

I concluded my last weeks piece by noting:

Banks seem somewhat optimistic and they have eased lending standards. There is not much room for leveraging among corporations and especially among households, though, which shows in the stagnation of borrowing. This indicates that the optimism among banks is likely to be a “false positive”. Their optimism can, for example, be based on the assumption that the Fed easing would create favorable conditions for an economic recovery. Due to the very high level of indebtedness of households and corporations, I consider this to be unlikely. This implies that we could see, possibly a drastic, turn into re-tightening of lending standards and softening of credit demand in the coming quarters.

I think this is the risk the Fed is seeing. There is simply too much private and federal debt and if rates stay high, defaults will start to roll in, with also the likelihood of U.S. sovereign debt rising. This would hurt the economy badly.

U.S. banks continue to struggle under a gargantuan amount of unrealized losses. They arise mostly from the same source as with the Fed, i.e. from Treasuries losing value, en masse. We also noted in the August World Economic Outlook of GnS Economics that the outflow of core deposits seem to have re-started. Deposit outflow is a major risk for the banking sector, because it implies waning trust and, as banking is a business of trust, waning trust implies growing fragility in the banking sector. The Fed cannot stop the outflow of deposits, but it can try to diminish the unrealized losses by cutting interest rates, and hoping that Treasury yields follow. At the time of writing, this was not going well with, e.g. the yield of U.S. 10-year Treasury note shooting up. This is an (early) indication that the bond market now expects inflation to pick up.

Core deposits in the U.S. banking system. Source: GnS Economics, FDIC

Alas, the Fed eased heavily, because of the losses it and U.S. banks are accumulating and because it sees the risk of the economy breaking. These are not encouraging signs.

* * *

P.S. There’s always the possibility that Fed Chair Jerome Powell is a pitiful small man. I don’t believe so, but I of course do not know him personally.

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

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

end

END

FREIGHT ISSUES/USA/

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

END

TUCKER CARLSON….

SWAMP STORIES

unbelievable!

Cover-Up: Ex-Border Patrol Chief Says He Was Instructed By Biden-Harris Admin To Hide Terrorist Encounters

Thursday, Sep 19, 2024 – 03:40 PM

In a scathing revelation before Congress, former San Diego Sector Border Patrol Chief Aaron Heitke accused the Biden-Harris administration of covering up a sharp rise in encounters with suspected terrorists at the U.S.-Mexico border.

During a House Committee on Homeland Security hearing titled “A Country Without Borders: How Biden-Harris’ Open-Borders Policies Have Undermined Our Safety and Security,” Heitke said he was muzzled from releasing critical information on the number of Special Interest Aliens (SIAs) — individuals with known or suspected ties to terrorism — apprehended in California.

“I was told I could not release any information on this increase in SIAs or mention any of the arrests,” Heitke testified. “The administration was trying to convince the public there was no threat at the border.”

According to Heitke, arrests of individuals with terror ties skyrocketed under President Joe Biden’s watch. The former Border Patrol chief revealed that before 2021, his sector had apprehended between 10 to 15 SIAs annually. By 2022, that number had shot up to over 100, with even more recorded in 2023.

“Once word was out that the border was far easier to cross, San Diego went to over 100 SIAs in 2022, well over that in 2023, and even more than that registered this year. These are only the ones we caught,” Heitke warned, ABC3340 reports.

Watch:

👀 Retired Border Patrol sector Chief Heitke testified in front of @HomelandGOP @HomelandDems that he was directed not to release any information on the increase in “significant interest” migrants, “These are aliens with significant ties to terrorism…”

He says the San Diego… pic.twitter.com/Iaw2JltkcI
— Ali Bradley (@AliBradleyTV) September 19, 2024

The bombshell testimony raises serious questions about national security, as Heitke further claimed the Biden administration allowed some illegal border crossers to settle in local communities ill-equipped to handle the influx. San Diego County Supervisor Jim Desmond, who also testified, slammed the administration for offloading the costs of transporting these individuals onto local taxpayers.

Rep. Clay Higgins, R-La., chairman of the subcommittee on Border Security and Enforcement, didn’t mince words during the hearing, calling the current situation a “self-inflicted border crisis” and a “threat to the homeland from within the homeland,” Just the News reports.

“By ending effective Trump-era policies and programs that protected us, the Biden-Harris administration has intentionally left us vulnerable to potential attacks from terrorists and criminals who are freely moving around our communities,” Higgins said.

The testimony paints a damning picture of the administration’s border policies, which critics argue have left the U.S. exposed to dangerous threats. U.S. Customs and Border Protection (CBP), which operates under the Department of Homeland Security, has been in the spotlight for its handling of the escalating crisis. CBP Secretary Alejandro Mayorkas, however, defended the administration’s actions in a recent interview, saying the changes were designed to address a years-long backlog in asylum hearings.

“As the backlog has grown and grown, their, essentially, trial date, if you will — the date on which they will make their ultimate merits claim — is set years and years away. That was the status quo,” he said.

x.com/CortesSteve/status/1836828200309326112

But as the number of terror-linked arrests continues to climb, many are questioning whether the administration’s open-border policies have put the country at risk.

“These are not just undocumented migrants seeking a better life,” Heitke testified. “These are individuals with ties to terrorist organizations. And we’re not catching all of them.”

With border apprehensions on the rise and the stakes higher than ever, the Biden administration faces mounting pressure to restore security and transparency at the southern border before it’s too late.

END

Kamala’s brother in law a huge crook:

(zerohedge)

Who Is Kamala Harris’ Brother-In-Law, Tony West?

Thursday, Sep 19, 2024 – 09:50 PM

Three days ago, word of an alleged whistleblower from ABC News emerged following the Trump-Harris debate who claimed, among other things, that Harris was given questions in advanced.

While unverified – and should therefore be taken with a grain of salt for now, the whistleblower also claims there are three topics that were off-limits.

President Biden’s health
Kamala’s tenure as Attorney General and District Attorney
“her brother-in-law, Tony West, who faces allegations of embezzling billions of dollars in taxpayer funds and who may be involved in her administration if elections.”

To that end, Edward R. Szall via Died Suddenly News has done a deep dive on #3 – which he believes to be the deepest scandal of the 2024 election cycle.

Who is Tony West?

Kamala Harris’ brother-in-law married her sister Maya in 1998, and was one of her first political advisors, helping with the 2003 San Francisco District Attorney race.

(bio on Tony and Maya marriage)

Tony West served in Clinton and Obama’s DOJ, where is he accused of setting up a Ponzi scheme which fleeced billion from taxpayers.

(Tony joining DOJ in 2009)

As head of the Justice Department’s Civil Division, Tony West took advantage of the Treasury Department’s secret “Judgement Fund”, a slush account used to pay inflated settlements without Congressional oversight.

Basically – if a government agency was being sued, this tax-payer funded slush-fund could be used to pay lawyers and special interest groups at the DOJ’s discretion to settle the issue. Payments of 10’s of thousands and millions of dollars.

(Judgement Fund background)

The Government Accountability Office admitted:

They have no idea how many settlements are paid yearly by the Judgement Fund
No receipts are published
Attorneys’ fees awarded are not disclosed

(Judgement Fund payment history)

President Trump banned this fund when he took office, but Biden made it legal again in 2021.

“When the federal government settles a case against a corporate wrongdoer, any settlement funds should go first to the victims and then to the American people— not to bankroll third-party special interest groups or the political friends of whoever is in power,” said Attorney General Jeff Sessions.

“Unfortunately, in recent years the Department of Justice has sometimes required or encouraged defendants to make these payments to third parties as a condition of settlement. With this directive, we are ending this practice and ensuring that settlement funds are only used to compensate victims, redress harm, and punish and deter unlawful conduct.”

(Trump ordering AG Sessions to get rid of settlement rule)

(Biden AG reinstating settlement scheme)

In 2009, Tony West was placed IN CHARGE of the DOJs specific division that litigates and settles lawsuits, paid out by the Judgement Fund.

(Meeting minutes of West appointment)

Tony West’s first order of business, according to one of his deputy’s emails, was to find the “best way” to use this settlement fund to “allocate” money toward his friend’s organizations.

(emails on slush fund)

“Settlements became the vehicle for paying off political allies,” according to Daniel Huff, former counsel to the Senate and House Judiciary Committees.

One of Tony West’s biggest scores was a 2010 settlement with 91 Hispanic and female farmers who claimed they were illegally discriminated against.

(Farmer settlement PDF)

Tony West intervened and “engineered a stunning turnabout” according to the New York Times. The DOJ agreed to a $1.33 billion settlement, including thousands of farmers who were never even involved in the case, and Native American farmers.

The left-wing NY Times admitted at the time that Tony West’s settlement was a “runaway train, driven by racial politics . . . and law firms that stand to gain more than $130 million in fees.”

(New York Times story on the inflated farmer settlement)

The settlement payment grew to over $4.4 billion, creating a $60 million windfall for the lead lawyer, Joseph M. Sellers, who just so happened to also be a member of the Obama/Biden transition team.

(Sellers attorney’s fees and more on bio)

(lead attorney Sellers bio, showing connection to Obama/Biden transition team)

Tony West also concocted a series of shady bank settlements with victims of the housing crisis, with questionable provisions requiring banks to make almost a billion dollars in mandatory donations to Democrat-supporting activist groups, excluding all conservative property rights orgs.

(conservatives blocked from settlement money)

(proof of provision forcing donation to Democrat linked causes)

The Tony West corrupt settlement system was again used in 2016 to make Volkswagen fund a $2 billion White House electric car initiative that Congress had blocked. Tony then got a job with Uber, which profits greatly with the shift to EV.

(Volkswagen settlement)

(Kamala co-signing Volkswagen EV project in California)

An email from the head of the Indiana Bar literally shows staff saying they ought to “build a statue to West and bow down to this statue each day” after they receive their $200k pay day.

(emails on slush fund)

The agreement was co-signed by then-California AG Kamala Harris, all while being advised by Tony West, her soon-to-be White House counsel, if she wins.

(Tony West floated as next White House Counsel)

Bonus Case:

DOJ used Tony West’s settlement system to pay FBI Agents Peter Strzok and Lisa Page $2 million after their anti-Trump texts were published.

Strzok and Page became the target of Trump’s fury soon after the texts became public, showing the two officials disparaging Trump and his supporters. The pair discussed efforts to “stop” Trump from becoming president and characterized aspects of their work as an “insurance policy.”

(Peter Strzok and Lisa Page benefitting from settlement scheme)

All of this while average American’s struggle to pay their grocery bills under the Biden/Harris leadership.

Now we know why Kamala [allegedly] didn’t want to be asked about Tony West.

KING REPORT

The King Report September 20, 2024 Issue 7331

Independent View of the News

Plunge in Jobless Claims Exposes Apolitical Fed-Cut ‘Policy Error’ Further
Adjusted initial claims tumbled from 231k to 219k (lowest since May) while unadjusted claims continued to tumble to 12-month lows… Continuing claims also continued its (economically positive) downtrend, sliding from 1.843mm to 1.829mm… Does that really look like an economy that needs a 50bps rate-cut?… “Either The Fed is a bunch of idiots, or this data is total bullschiff.”…
https://www.zerohedge.com/markets/plunge-jobless-claims-exposes-apolitical-fed-cut-policy-error-further

Chris Whalen: Powell FOMC Goes Big and Political
In past comments in The Institutional Risk Analyst, we’ve noted that the recent propensity of the Federal Open Market Committee to err on the side of more liquidity has created significant problems for the markets… Now the Fed has gone explicitly political, pushing an excessive 50bp rate cut just ahead of a presidential election… the FOMC has not really even begun to reduce the level of reserves in the system in 24 months of supposed tightening. This added liquidity in the money supply, added to the brisk rate of increase in the federal deficit, means that real liquidity in the system is growing at close to 10% annually… https://www.theinstitutionalriskanalyst.com/post/powell-fomc-goes-big-and-political

@zerohedge: Wow, Rabobank said it: “Powell had a clear incentive to deliver a 50-bps cut before Election Day, because Trump has already made clear that he would not reappoint him as Fed Chair.… So, Powell’s only chance of another term is by pleasing Kamala Harris and her fellow Democrats”

@lisaabramowicz1: Atlanta Fed’s GDPNow forecast is now nearly 3%, which is higher than where it was before the last Fed meeting at the end of July (see red arrow below.) [50bp rate cut?]
https://x.com/lisaabramowicz1/status/1836154762770657336

Biden surfaced on Thursday to extoll the Fed rate cut and credit his policies for lowering rates. Yes, Virginia, The Big Guy made Powell his patsy. Knowing how political this appeared, Biden fibbed that he has never spoken to Powell since he became president. “Unlike my predecessor, I respect the Federal Reserve’s independence.” (Imagine thinking and proclaiming that the Fed is independent!)

Biden: Fed rate cut is “declaration of progress” on crushing inflation
“An important day for the country… It’s a signal we have entered a new phase in our economy and our recovery.”… https://www.axios.com/2024/09/19/biden-fed-interest-rates-cut-trump-harris

@POTUS on Wednesday: We just reached an important moment: Inflation and interest rates are falling while the economy remains strong. The critics said it couldn’t happen – but our policies are lowering costs and creating jobs.

People quickly posted pictures and stories of Biden meeting with Powell. The ridicule and mocking induced Biden economic advisor Jared Bernstein to surface and say what Joe meant was that he never spoke with Powell about interest rates. Biden probably just regaled Jerome with stories about Corn Pop, Joey Baby, and his football heroics.

NYT: Biden and Fed chair Powell meet as inflation dogs the global economy. (2022) Big risks threaten economic growth around the world as central banks try to bring prices under control.
https://www.nytimes.com/2022/05/31/business/biden-powell-meeting-inflation.html?s=02

@RNCResearch: On the left is Biden claiming he has “never once spoken to the chairman of the Fed since I became president.” On the right is Biden speaking to the Fed chair during his tenure as president. This is the decline Kamala covered up! https://t.co/olVGowcxtH

GOP Sen. @SenTuberville: Proud of Fed Governor Miki Bowman for bucking Jay Powell. The Fed’s drastic rate cut is shamelessly political.  Our nation’s central bank has no business moving rates this close to an election and is clearly trying to tip the balance in favor of Kamala Harris.

@Stocktwits: SPY is up 1.7% at the open… This is the biggest post-FOMC move since 2008.
(SPY is the S&P 500 Index ETF.)
The fin media and numerous Street pundits labored to find reasons and excuses for the monster equity rally on Thursday. They mostly tried to attribute the stock surge to a ‘delayed reaction to the rate cut.’ They were flummoxed when reporters asked them why bonds declined sharply on the rate cuts.

The rally, as we opined, was the manipulation to squeeze expiry September options and futures. That’s it!

ESZ opened sharply higher on Wednesday night and persistently rallied, with just three moderate retreats, until they hit a daily high of 5797.50 at 13:43 ET. Someone, probably professional traders and operators, then liquidated into the NYSE close.

Positive aspects of previous session
The manipulation for the September expiration pushed stocks to the moon.
Fangs went postal, which is a main staple of the Expiry Week Manipulation & Squeeze

Negative aspects of previous session
Bonds declined sharply, again; USUs closed -30/32
Powell & his Fed cronies look more political than ever due to Jobless Claims and the stock surge.
US equities are bubbling up again.
ESZs peaked at 13:43 ET; astute traders were liquidating thereafter.

Ambiguous aspects of previous session
How high will the Powell-spurned equity bubble float?
After the ugly reaction to the rate cut, someone started manipulating NQUs & ESUs on Wed. night.
Is the entity that has regularly saved stocks since Biden exited back in operation?

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

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5711.21
Previous session S&P 500 Index High/Low: 5733.57; 5686.42

GOP Sen. @HawleyMO: NEW WHISTLEBLOWER allegations – this time about the latest attempt on Trump’s life. Whistleblower alleges Secret Service apparently failed to account for “known vulnerabilities” at Trump’s golf course. Shooter was able to lie in wait for 12 hours. What is the explanation?  https://x.com/HawleyMO/status/1836564804917694963
     Secret Service is stonewalling: it’s been over 2 months since the Butler assassination attempt.  Secret Service has yet to hand over docs. Why?

Fed Balance Sheet: +$2.434B; Reserves at Fed: +$77.816B (Keep the juice flowing!)

After the close, FedEx sank as much as 14% after it cut its full-year profit outlook to $20-$21 from $22.

Today is September options and futures expiration. Usually there is ‘stock to buy’ on the NYSE opening to replace expiry September futures. After the manic manipulation on Thursday, stocks are susceptible to a sharp retreat. First, shorts and expiry options must be squeezed to the limit. Then astute traders will sell. Though it’s a Friday, the DJIA has been down on the past 9 of 11 September expirations.

Expected Economic: none; Phil Fed Pres Harker 14:00 ET lectures at Tulane University

NQZs are -47.50.50; ESZs are-10.25; and USZs are +10/32 at 20:10 ET.
S&P Index 50-day MA: 5516; 100-day MA: 5429; 150-day MA: 5327; 200-day MA: 5194
DJIA 50-day MA: 40,558; 100-day MA: 39,796; 150-day MA: 39,461; 200-day MA: 39.003
(Green is positive slope; Red is negative slope)

S&P 500 Index (5713.64 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 5513.92 triggers a sell signal
Hourly: Trender and MACD are positive – a close below 5627.88 triggers a sell signal

DHS official knew of 5 assassination teams after Trump before 2nd attempt: Gaetz (GOP Rep.)
“I had a senior official from the Department of Homeland Security in my office before the second assassination attempt, saying that what he has assessed is that there are five known assassination teams in the United States, three inspired by other governments, two that are here, that are known domestic assassination teams,” Gaetz said on “Human Events Daily.”..,
https://justthenews.com/politics-policy/dhs-knew-5-assassination-teams-after-trump-2nd-attempt-gaetz

Alaska man arrested for threatening to torture and assassinate six Supreme Court justices (GOP)
According to FEC records, he donated to ActBlue, a Democratic platform, as recently as July…
https://www.dailymail.co.uk/news/article-13869995/alaksa-man-panos-anastasiou-arrested-threats-supreme-court-justices.html

@mirandadevine: WaPo cannot bring itself to say in the headline that the death threats were not for a random six Supreme Court justices but only for the six conservatives. That’s because the media is complicit in inciting hatred toward them.  https://t.co/YOGYKYWzny

@robbystarbuck: This Democrat donor called Clarence Thomas the N word and threatened to lynch him. The left’s rhetoric is going to get people killed. https://x.com/robbystarbuck/status/1836816448762548691

Schumer explicitly threatened Kavanaugh and Gorsuch: “I want to tell you Gorsuch. I want to tell you Kavanaugh. You have released the whirlwind and you will pay the price. You won’t know what hit you if you go forward with these awful decisions.”

Chuckie, Pelosi, many Dems, and their media stooges have harangued and bashed the GOP-nominated SCOTUS justices for the past few years. Now, their venomous rhetoric has provoked a big problem.

Trump says he regrets not ‘going after’ ABC moderators during debate: ‘I wish I did’ (a layup!)
https://www.foxnews.com/media/trump-says-regrets-not-going-after-abc-moderators-during-debate

Kamala: “I grew up understanding the children of the community are the children of the community.”
https://x.com/Breaking911/status/1836467124732096878

Nancy Pelosi claims Dem primary process was ‘open’ and Kamala Harris ‘won it’ https://t.co/2Zq5Xhnley (When a congenital liar goes senile…)

@Breaking911: Former Chief Patrol Agent Aaron Heitke claims he was instructed by the Biden-Harris administration to hide the number of terrorists apprehended at the border. “The administration was trying to convince the public there was no threat at the border.”
https://x.com/Breaking911/status/1836832752475460040

Biden-Harris admin muzzled info on suspected terrorists caught at border: Former Border Patrol chief      https://t.co/rJKVmCdmWh

@elonmusk: The Dem administrative state is flying millions of future voters directly into swing states. They are being sent to cities and towns throughout Ohio, Pennsylvania, Wisconsin and Arizona. Given that this is a sure path to permanent one-party rule, it is a very smart strategy.
https://twitter.com/elonmusk/status/1836595786655641739?s=02

@fentasyl: Haitians & Cubans paroled into the USA for more than 1 year are “qualified aliens” to receive Federal Welfare, including Medicaid, Social Security, SSI, SNAP, TANF, & Student Aid. Haitians & Cubans are specially exempted from the normal 5-year waiting period to get alien welfare… https://t.co/ZYvVAlWlSh

@charliespiering: As Kamala Harris shies away from the media, the campaign is sending out Doug Emhoff more to talk about how much of a ‘badass’ she is. In one interview, Emhoff suggests he was almost afraid to date Kamala because she was such a ‘badass.‘ (Cut out the soy!)
https://x.com/charliespiering/status/1836830831278706729

Trump supporters who sat onstage during Arizona rally suffering from mysterious eye injuries: ‘It’s unbearable’ (Chemical spray or laser attack?)
https://nypost.com/2024/09/19/us-news/trump-supporters-who-sat-onstage-during-arizona-rally-suffering-from-mysterious-eye-injuries/

Former President Trump roasts Howard Stern and claims the shock jock’s ratings have “gone down the tubes” since caving to the far-left.  “I was on Howard Stern as much as anybody, and he was great at the time, then he went woke.”   https://x.com/FoxNews/status/1836827652302229514

@bennyjohnson: Gov. Ron DeSantis says the FBI won’t cooperate with Florida investigation: “No, they are not being cooperative, and yes, I am concerned—Our investigators were rebuffed just going to the fence line outside of Trump International Golf Club.” https://x.com/bennyjohnson/status/1836914789454315953

@stillgray: Gavin Newsom says he can’t rule out taking legal action against Elon Musk and a conservative memer for posting mean memes about him because it “hurts democracy.” Tyrant.
https://x.com/stillgray/status/1836835835410538511

Most Gen Z Men Do Not Like Taylor Swift (Not surprised at men; stunned women aren’t far more!)
While a majority of Gen Z women have a favorable view of Swift (53 to 41), only 35 percent of Gen Z men feel the same. Nearly six in ten (59 percent) Gen Z men have a negative view of Taylor Swift…
https://www.aei.org/articles/what-taylor-swifts-endorsement-tells-us-about-the-youth-gender-gap/

@CollinRugg: Rep. Nancy Mace enters text messages into the record of a CNN commentator hitting on her after calling her racist during a live CNN segment. CNN commentator & author Michael Dyson allegedly begged Mace for photos. “After my CNN interview, he begged me for photos… after calling me racist on CNN.” Dyson told Mace: “Don’t tell anybody we look good together” and sent her a kissy emoji. During the interview, Dyson went off on Mace for saying Kamala Harris’ name wrong, accusing her of being racist.  https://x.com/CollinRugg/status/1836870094582075698

Cuomo personally altered COVID nursing-home death report that low-balled fatalities, emails show: report https://t.co/ZhvWK3K9qc

GREG HUNTER

SEE YOU ON THURSDAY//