GOLD PRICE CLOSED DOWN $26.60 TO $2646.00

SILVER PRICE DOWN $0.58 TO $31.50

Gold ACCESS CLOSED $2672.70

Silver ACCESS CLOSED: $32.06

Bitcoin morning price:$65,523 UP 1723 DOLLARS.

Bitcoin: afternoon price: $65,923 up 2123 DOLLARS

Platinum price closing DOWN $4.35TO $1007.35

Palladium price; DOWN $32.60 TO $1018.40

END

*CANADIAN GOLD: $3583.30 DOWN 18.70 CDN dollars per oz( * NEW ALL TIME HIGH 3,599.30CDN DOLLARS PER OZ//SEPT 26 2024)

*BRITISH GOLD: 1,981.66 DOWN 11.01 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1996.53 RITISH POUNDS/OZ) SEPT 25/2024

*EURO GOLD: 2,378.58 DOWN 16.59Euros per oz //* (ALL TIME CLOSING HIGH: 2.390.55 EUROS PER OZ//SEPT 25//.2024)

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,669.900000000 USD
INTENT DATE: 09/26/2024 DELIVERY DATE: 09/30/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

152 C DORMAN TRADING 1
624 H BOFA SECURITIES 26
690 C ABN AMRO 4
737 C ADVANTAGE 22
905 C ADM 1

---

TOTAL: 27 27

---

JPMorgan stopped 0/27

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2024. CONTRACT: 27 NOTICES FOR 2700 OZ  or  0.08398 TONNES

total notices so far: 4231 contracts for 423,100 Oz (13.160 tonnes)

FOR  SEPT:

SILVER NOTICES: 2 NOTICE(S) FILED FOR 10,000 OZ/

total number of notices filed so far this month : 5,099 for 25.495 million oz

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GLD/

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

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

WITH GOLD DOWN $26.60 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD:

/ /INVENTORY RESTS AT 877,12 TONNES

INVENTORY RESTS AT 877.12 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER DOWN $0.58 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.653 OZ INTO THE SLV

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 469,472MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A TINY SIZED 46 CONTRACTS TO 146,787 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR GAIN OF $0.29 IN SILVER PRICING AT THE COMEX ON THURSDAY’S TRADING. WE LOST ZERO NET LONGS WITH THE GAIN IN PRICE. WE HAD A MEGA HUGE GAIN OF 1094 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS AS WELL AS MONTH END SPREADER LIQUIDATION. //. WE HAD ATTEMPTED SHORT COVERING BY OUR SPECS DESPITE THE GAIN IN PRICE DURING THE COMEX TIME ZONE..  WE HAD A GIGANTIC 1140 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A MEGA HUMONGOUS 2261 CONTRACT T.A.S ISSUANCE WHICH IS BEING USED IN FRIDAY’S RAID. IN ESSENCE WE GAINED A  HUGE 1094 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: 2261 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 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 $0.29 AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS HAVING A HUGE GAIN OF 1094 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES ALL OF THE LOSS IN OI WAS DUE TO CONTINUAL SPREADER LIQUIDATIONS (TAS + MONTH END SPREADERS).

WE HAD A HUMONGOUS 1140 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 10,000 OZ QUEUE JUMP//NEW STANDING RISES TO 25.495MILLION OZ

//NEW STANDING FOR SILVER//SEPT REMAINS AT 25.495 MILLION OZ

WE HAD:

/ TINY SIZED COMEX OI LOSS//HUGE SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 2261 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 1601 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 19 DAYS, total 22,133 contracts:   OR 110.665 MILLION OZ  (1164 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  110.665  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//3RD HIGHEST 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: 110.665 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

RESULT: WE HAD A TINY SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF  46 CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS:1140 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 SEPT. OF  22.765 MILLION  OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 10,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR SEPT RISES TO 25.495 MILLION OZ 

WE HAVE A HUGE GAIN OF 1094 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A MEGA HUGE SIZED 2261 CONTRACTS (USED FOR TODAY’S RAID),//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX + MONTH END SPREADER LIQUIDATION AND THIS CONTINUED ON TO FRIDAY’S 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   (2261) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND FOR SURE TODAY’S RAID., .

WE HAD  2 NOTICE(S) FILED TODAY FOR 10,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 3636 OI CONTRACTS  TO 550,360 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 7627 CONTRACTS//

WE HAD A GOOD SIZED DECREASE  IN COMEX OI (3626 CONTRACTS) OCCURRED WITH OUR GAIN OF $11.20 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 STRONG 2900 OZ QUEUE JUMP

NEW STANDING ADVANCES TO  13.164 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $11.20 GAIN IN PRICE  WITH RESPECT TO THURSDAY’S COMEX TRADING. WE HAD A SMALL SIZED LOSS OF 587 OI CONTRACTS (1.825 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 THURSDAY MORNING

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3039 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 550,360

IN ESSENCE WE HAVE A SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 587 CONTRACTS  WITH 3626 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 3039 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 587 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A HUGE SIZED 3610 CONTRACTS, WE HAD A HUGE MASS LIQUIDATION OF T.A.S CONTRACTS PLUS MONTH END SPREADERS/WEDNESDAY AND THAT CONTINUED ON THURSDAY AND FRIDAY.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3039 CONTRACTS) ACCOMPANYING THE FAIR SIZED DECREASE IN COMEX OI OF 3,626 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 587 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 2900 OZ QUEUE JUMP

//NEW STANDING ADVANCES TO: /SEPT 13.164 TONNES. 

 / 3) HUGE T.A.S. LIQUIDATION (DURING COMEX PLUS SPREADER LIQUIDATION) WITH ZERO NET LONG SPECS BEING CLIPPED,

  4)  FAIR SIZED COMEX OPEN INTEREST DECREASE 5)  HUMONGOUS ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///HUGE T.A.S.  ISSUANCE: 3610 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: 100,478 CONTRACTS OF 10,047,800 OZ OR 312.52 TONNES IN 19 TRADING DAY(S) AND THUS AVERAGING: 5288 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19TRADING DAY(S) IN  TONNES  312.52 TONNES

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

THUS EFP TRANSFERS REPRESENTS  312.52 DIVIDED BY 3550 x 100% TONNES = 8.89% 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: 312.52 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END UP WITH THE 3RD HIGHEST ISSUANCE EVER RECORDED.

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 FALL BY A SMALL SIZED  46 CONTRACTS OI  TO 148,480 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  6 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE1140 CONTRACTS

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

DEC 1140 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1140 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI GAIN OF 1647 CONTRACTS AND ADD TO THE 1140 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1094 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 5.470 MILLION OZ OCCURRED WITH OUR  $0.29 GAIN  IN PRICE  

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

SHANGHAI CLOSED UP 86.58 PTS OR 2.88%//Hang Seng CLOSED UP 707.72 PTS OR 3.55%

// Nikkei CLOSED UP 903.93 PTS OR 2.32%//Australia’s all ordinaries CLOSED UP 0.17%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0110 CHINESE YUAN OFFSHORE CLOSED UP TO 6.9838 Oil UP TO 67.76dollars per barrel for WTI and BRENT UP AT 71.67 Stocks in Europe OPENED ALL GREEN

ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 3626 CONTRACTS TO 550,360 DESPITE OUR GAIN IN PRICE OF $11.20 WITH RESPECT TO THURSDAY’S TRADING. WE LOST ZERO IN NUMBER LONGS WITH THE HIGHER PRICE FOR GOLD. WE ALSO HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (3089). THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THIS MONTH DISTORTS OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY WEDNESDAY AND THURSDAY

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  STRONG T.A.S. LIQUIDATION DESPITE THURSDAY’S GAIN IN PRICE WITH ZERO LONGS BEING CLIPPED (AS YOU WILL SEE BELOW) BUT WE DID HAVE MINOR ATTEMPTED SHORT COVERING BUT AT MUCH HIGHER PRICES. THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR THAT SHINY YELLOW METAL. THE HIGH LIQUIDATION OF THE SPREADERS // T.A.S DURING LAST WEEK AND THIS WEEK IS SURELY DISTORTING COMEX OPEN INTEREST ESPECIALLY YESTERDAY. TAS SHORTERS WERE JOINED IN TANDEM BY MONTH END SPREADER LIQUIDATION WITH RESPECT TO FRIDAY COMEX TRADING.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS A STRONG SIZED 3039 EFP CONTRACTS WERE ISSUED: :  OCT/DEC  3039 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3039 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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED TOTAL OF 587 CONTRACTS IN THAT 3039 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD LOSS OF 3626 COMEX  CONTRACTS..AND THIS LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR STRONG GAIN IN PRICE OF $11.20 THURSDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED  ABOVE. THE ENTIRE LOSS IN OI WAS DUE TO T.A.S. LIQUIDATION/MONTH END SPREADER LIQUIDATION.

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 HUGE SIZED 3610 CONTRACTS  WAS USED TO REPLENISH SUPPLIES.. 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. OPTIONS EXPIRY CONCLUDES ON MONDAY FROM WHICH RAIDS WILL END FOR THE MONTH.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   SEPT  (13.164 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. 13.164 TONNES.

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $11.20/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES. WE HAD HUGE T.A.S. SPREADER LIQUIDATION THURSDAY ALONG WITH MONTH END SPREADER LIQUIDATION AND THAT NUMBER INTENSIFIED ON FRIDAY. BUT CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY WEDNESDAY EVENING ONCE THE $2,600 PRICE LEVEL WAS PIERCED LAST FRIDAY AND $2650 GOLD HELD IN PRICE.

WE HAVE LOST A TOTAL OF 1.805 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR SEPT (12.889 TONNES) ON FIRST DAY NOTICE FOLLOWED BY THURSDAY’S QUEUE JUMP OF A STRONG SIZED 2900 OZ

//NEW STANDING FOR SEPT ADVANCES TO: 13.164TONNES.

NEW STANDING FOR SEPT: 13.0745 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR  GAIN IN PRICE  TO THE TUNE OF $11.20

WE HAVE REMOVED 7627 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET LOSS ON THE TWO EXCHANGES 587 CONTRACTS OR 58700 OZ (1.805

TONNES)

confirmed volume THURSDAY 242,819 contracts FAIR

//speculators have left the gold arena

END

SEPT 27  SEPTEMBER  GOLD CONTRACT

/ /// THE SEPT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	12238.182 OZ BRINKS jpmorgan           .
Deposit to the Dealer Inventory in oz	36,459.234 OZ LOOMIS 1134 KILOBARS
Deposits to the Customer Inventory, in oz	32.151 oz LOOMIS 1 kilobars
No of oz served (contracts) today	27 notice(s) 2700 OZ 0.08398TONNES
No of oz to be served (notices)	3 contracts    300 OZ 0.00933 TONNES
Total monthly oz gold served (contracts) so far this month	4231 notices 423,100oz 13.160 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

1 dealer deposits:

i) Into Loomis. 36,459.234 oz

(1134 kilobars)

total dealer deposits:  36,459.234 ozoz

we have 1 customer deposits

i) Into Loomis: 32.15 oz

total deposits 32.15 oz

withdrawals: 2

i) Brinks: 200.02.

ii) JPMorgan: 12,038.162

TOTAL WITHDRAWALS: 12238.182oz

adjustments:2. dealer to customer

a) Brinks. 96.453 oz

b) Malca. 1, 446.795 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER

For the front month of SEPT. we have an oi of 30 contracts having LOST 61 contracts. We had 90 notices filed on THURSDAY so we GAINED 29 contracts or 2900 oz will stand at the comex as these boys seek metal on THIS side of the pond.

OCTOBER LOST 5480 CONTRACTS DOWN TO 13,708 CONTRACTS. OCTOBER IS THE NEW FRONT MONTH FOR GOLD

NOVEMBER GAINED 74 CONTRACTS TO STAND AT 1271

DECEMBER, THE BIGGEST DELIVERY MONTH GAINED 914 CONTRACTS TO 465,158

We had 27 contracts filed for today representing 2700 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 27 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 0 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for SEPT /2024. contract month, we take the total number of notices filed so far for the month (4231 x 100 oz ) to which we add the difference between the open interest for the front month of  SEPT (30 CONTRACTS)  minus the number of notices served upon today  (27x 100 oz per contract( equals  423,400 OZ  OR 13.164 ONNES.

thus the INITIAL standings for gold for the SEPTEMBER contract month:  No of notices filed so far (4231 x 100 oz +we add the difference for front month of SEPT  (30 OI} minus the number of notices served upon today (27x 100 oz which equals  423,400 oz (13.164 TONNES) 

TOTAL COMEX GOLD STANDING FOR SEPT.: 13.164 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: 1,877,456778 oz 58.39 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  17,177,263.947 OZ  

TOTAL REGISTERED GOLD 7,670,759.033/// 238.59 tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,506,504.914 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,793,303oz (REG GOLD- PLEDGED GOLD)= 180.19 tonnes //

END

SILVER/COMEX

SEPT 27  2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	196,518.700 oz OZ ASAHI .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	nil oz
No of oz served today (contracts)	2  CONTRACT(S)    (10,000 OZ)
No of oz to be served (notices)	0 contracts  (0.000million oz)
Total monthly oz silver served (contracts)	5099 Contracts  (25.495 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 1 withdrawals

i) Out of ASAHI. 196,518.700 oz

total withdrawal 196,518.700 OZ

JPMorgan has a total silver weight: 134.996million oz/304.502million  or 44.26%

adjustment

0

TOTAL REGISTERED SILVER: 70.072MILLION OZ//.TOTAL REG + ELIGIBLE. 304.502million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR SEPTEMBER:

silver open interest data:

FRONT MONTH OF SEPT/2024 OI: 2 CONTRACTS HAVING LOST 35 CONTRACT(S). 

WE HAD 37 NOTICES FILED ON THURSDAY, SO WE GAINED 2 CONTRACTS OR 10,000 OZ

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

OCTOBER SAW A LOSS OF 109 OF OPEN INTEREST CONTRACTS AND THUS WE HAVE 1226 OPEN INTEREST CONTRACTS FOR OCTOBER.

NOVEMBER SAW A GAIN OF 25 CONTRACTS TO STAND AT 348

DECEMBER SAW A LOSS OF 366 CONTRACTS UP TO 127,078 CONTRACTS

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for 10,000oz

CONFIRMED volume; ON WEDNESDAY 97,897 HUGE

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 5099x 5,000 oz = 25.495 MILLION oz 

to which we add the difference between the open interest for the front month of SEPT(2)and the number of notices served upon today 2x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the SEPT/2024 contract month:  5099 notices served so far) x 5000 oz + OI for the front month of SEPT (2 number of notices served upon today minus (2)x 5000 oz of silver standing for the SEPT  contract month equates to 25.495 MILLION OZ. 

 New total standing: 25.495 million oz.

There are 70.072 million oz of registered silver.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44.

Now that we have surpassed $28.40 the next big line in the sand for silver is $34.76. After that the moon

END

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

GLD AND SLV INVENTORY LEVELS//

GLD

SEPT 27 WITH GOLD DOWN $26.60 ON THE DAY; NO CHANGES IN GOLD AT THE GLD .///INVENTORY RESTS AT 877,12 TONNES

SEPT 26 WITH GOLD UP $11.20 ON THE DAY; NO CHANGES IN GOLD AT THE GLD .///INVENTORY RESTS AT 877,12 TONNES

SEPT 25WITH GOLD UP $9.25 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD ./// /:// A DEPOSIT OF 1.73 TONNES OF GOLD INTO THE GLD//////INVENTORY RESTS AT 877,12 ONNES

SEPT 24WITH GOLD UP $23.60 ON THE DAY; NO CHANGES IN GOLD AT THE GLD ./// /:// //////INVENTORY RESTS AT 875.39 ONNES

SEPT 23 WITH GOLD UP $6.65 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1,43 TONNES OF GOLD INTO THE GLD../// /:// //////INVENTORY RESTS AT 875.39 ONNES

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 VAPOUR INTO 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

GLD INVENTORY: 877.12 TONNES, TONIGHTS TOTAL

SILVER

SEPT27WITH SILVER DOWN $0.58 : HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 4.653 MILLION OZ INTO THE SLV/. /: .///./// /INVENTORY AT SLV 469.472MILLION OZ

SEPT26WITH SILVER UP $0.29 : NO CHANGES IN SILVER INVENTORY:/. /: .///./// /INVENTORY AT SLV 464.819 MILLION OZ

SEPT25WITH SILVER DOWN $0.26 : HUGE CHANGES IN SILVER INVENTORY:. A WITHDRAWAL OF 2.281MILLION OZ FROM THE SLV/. /: .///./// /INVENTORY AT SLV 464,819 MILLION OZ

SEPT24 WITH SILVER UP $1.26 : HUGE CHANGES IN SILVER INVENTORY:. A DEPOSIT OF 9,305 MILLION OZ FROM THE SLV/. /: .///./// /INVENTORY AT SLV 467,100 MILLION OZ

SEPT23 WITH SILVER DOWN $0.39 : HUGE CHANGES IN SILVER INVENTORY:. A WITHDRAWAL OF 1.824MILLION OZ FROM THE SLV/. /: .///./// /INVENTORY AT SLV 457.795MILLION OZ

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

CLOSING INVENTORY 469,819MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

Schiff: QE Is On The Way

FRIDAY, SEP 27, 2024 – 07:20 AM

Via SchiffGold.com,

On Friday night, Peter took again to X Spaces to comment on the Fed’s recent decision, the stakes of the upcoming election, and Bitcoin, among other topics. He spends most of the Space interacting with his followers and responding to their questions. Follow Peter on X to catch the next Space he hosts.

Peter starts by addressing the big news from last week: the Fed announced rate cuts of 50 basis points, signaling a return to monetary policy from the Great Recession era:

“There’s no doubt in my mind that we’re going to have quantitative easing probably at the latest by the first quarter of 2025. The Fed may even start after the election, depending on how bad things are. But the rate cuts were just the beginning. Powell and the guys at the Fed are saying, ‘Well, the economy is great. Everything is awesome, but we’re cutting rates by 50 basis points anyway–’ something that they rarely do.”

The Fed insists that inflation is under control, but it’s still above the typical 2% target they’re expected to target:

“The Fed is cutting rates, claiming a victory over inflation when it should be obvious to anybody who understands inflation that it’s about to go through the roof. We saw a big breakout in inflation up to 9%, we’ve now seen a pullback to around 3%, and we’re now finding support above what used to be the resistance.”

Every time the Fed tries to delay a recession, it facilitates an even larger national debt and ensures that the next crash will be bigger and badder:

“We’re going to have a real economic crisis in the United States that we should have had 10 years ago– 20 years ago. But we were able to succeed in kicking the can down the road, and that’s going to come back to bite us, because the collapse is going to be much worse because our economy is so much worse. We’re screwed up now. The deficits are much bigger than they were back then, so it was an easier problem to solve 20 years ago.”

In response to a listener question about his preferred economic reforms, Peter explains that the size of the government needs to be drastically reduced. Even many Republicans struggle to grasp this:

“We have a huge bureaucratic monstrosity that needs to be dismantled. There’s so much that the government does that it shouldn’t even do at all, at least the federal government. These functions would be better performed at the state and local level, and so the federal government should just get out of those things. Even the things that the federal government should do—and there’s not that many things that it should do—it does very inefficiently. … Trump brags about the fact that he created the Space Force. We didn’t need the Space Force. That’s another agency. It’s the wrong direction. We needed to get rid of some of the agencies we had, not add new ones.”

One listener asks Peter about Jack Mallers, the CEO of crypto company Strike, and the mindset behind investing in Bitcoin. Peter thinks crypto investors like Mallers and Michael Saylor don’t seriously consider the possibility that Bitcoin will crash:

“I remember the housing bubble in 2002, 2003, 2004, and 2005. I found that people who owned homes—and I was renting at the time—but people who owned homes could not accept the fact that their house was going to go down in value. I think one of the reasons for that is they had such a vested interest in their house going up because it was their biggest asset. … They didn’t even want to consider the possibility that this gravy train was going to come to an end. I think that happens in Bitcoin to an even bigger degree, especially when you’ve invested so heavily in Bitcoin—not just because you own it, but because you’ve started a business that’s based on it.”

Towards the end of the Space, several listeners ask Peter about gold stocks, prompting him to comment on his experience as a stock broker. He argues that there’s ample room for deregulation in the financial sector too:

“Trump should get rid of the SEC—not just get rid of [SEC Chair] Gary Gensler, get rid of the entire SEC! We don’t need it. We should just abolish it, and we should abolish FINRA. Not only would that save a bunch of money because we could fire all those bureaucrats and let them get real jobs, but it would help the country; it would help the capital markets. Things would be better, right? Investors would be better protected and better served without the government looking over their shoulders.”

end

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

Alasdair Macleod..

Record highs for gold, and silver soars

It has been an excellent week for gold and silver bulls. But is a correction now due, and if so, how deep and for how long? It looks like being severely limited.

Alasdair MacleodSep 27∙Paid

READ IN APP

Gold continued to make new highs this week, today trading below yesterday’s best level of $2685 spot this morning in European trade at $2660, up $38 net from last Friday’s close. Silver had an excellent run from a low of $30.36 on Monday morning hitting a high of $32.70 yesterday (Thursday) before drifting back to $31.75 this morning. Since 1 January, that leaves gold up 29.5% and silver 34.6%. Comex volumes in both contracts were relatively high, consistent with bullish interest.

Gold is certainly overbought, judging by the net longs in the Managed Money category. With the increase in Open Interest since the last Commitment of Traders release (17 September) they are likely to be as high as 240,000 contracts, signalling caution on the bull tack is appropriate. But there is little doubt that the pair-trading hedge funds are turning bearish on the dollar with justification. The next chart of the trade-weighted index shows why:

Given the death cross on the moving averages, a clear break below 100 is in prospect with a rapid slide lower to follow. There is little doubt that this is the most important chart driving hedge fund sentiment. In these uncertain times, the dollar is less of a safe haven, gold more so. This suggests that any technical reaction in gold will be short-lived.

Gold is forging new highs, and the gold/silver ratio at 83 is far too high for an increasingly pro-gold sentiment. The next chart shows that it is still trapped in a band the lower parameter of which is about 75. Anti dollar sentiment propelling gold higher could easily drive the ratio through this lower level and beyond. What is the likelihood of this happening?

The technical chart for silver is extremely bullish and is next:

When silver tested $32.5+ yesterday, it was the highest since December 2012. It is far from being overbought and is being driven higher by poor liquidity. The 4-year consolidation supporting this rise could easily see it now running up towards all-time highs of $50.

Continuing demand for gold should do the trick, and this is up next:

It looks runaway unstoppable, confirming that extremely powerful underlying forces are driving this gold/dollar relationship. Interestingly, this is confirmed by continuing withdrawals (stand for deliveries) on Comex almost every trading session totalling 11,407,700 ounces (354.8 tonnes) this year so far. And does not include an unknown quantity of exchange-for-physicals out of a total turnover of 811,414 contracts (representing a volume of 2,523.8 tonnes equivalent) which have ended up as deliveries out of London into central banks and Asian markets.

To me, unless something radical changes, these paper gold markets are heading for a liquidity crisis. And to top it all, there are emerging signs of a great public reawakening in physical ETFs, which after nearly four years of net selling are turning into net buyers:

There are other signs of awakening public interest in gold. My podcasts appear to be drawing larger audiences regularly as well. The atmosphere is just beginning to feel bullish. Given the lack of physical liquidity in London and New York, a revival of ETF interest can only be accommodated at far higher prices. And what that would do for silver can only be guessed, which according to the Silver Institute has been in supply deficit for the last four years.

In conclusion, while a short-term technical correction to remedy overbought conditions cannot be ruled out, its depth and durability looks like being severely limited.

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/KINESIS 192/DR Lacalle

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

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/FRIDAY MORNING/THURSDAY  NIGHT

SHANGHAI CLOSED UP 86.58 PTS OR 2.88%//Hang Seng CLOSED UP 707.72 PTS OR 3.55%

// Nikkei CLOSED UP 903.93 PTS OR 2.32%//Australia’s all ordinaries CLOSED UP 0.17%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0110 CHINESE YUAN OFFSHORE CLOSED UP TO 6.9838 Oil UP TO 67.76dollars per barrel for WTI and BRENT UP AT 71.67 Stocks in Europe OPENED ALL GREEN

ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

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

ONSHORE YUAN:   CLOSED UP TO 7.0110

OFFSHORE YUAN: UP TO 6.9838

SHANGHAI CLOSED CLOSED UP 86.58 PTS OR 2.88%

HANG SENG CLOSED CLOSED 707.72PTS OR 3.55%

2. Nikkei closed UP 903.93 POINTS OR 2.32%

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX DOWN TO  100.62 EURO FALLS TO 1.1162 DOWN 15 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.860 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 143.11…… 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 DOWN FOR UP this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.1565Italian 10 Yr bond yield UP to 3.4720 SPAIN 10 YR BOND YIELD UP TO 2,947

3i Greek 10 year bond yield UP TO 3.101

3j Gold at $2667.35 /Silver at: 32.02  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 24/100  roubles/dollar; ROUBLE AT 92.85

3m oil into the 67 dollar handle for WTI and  71 handle for Brent/

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 143.11  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.860% 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 0.8447 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9422  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: 3.790 DOWN 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.121 DOWN 0 BASIS PTS/

USA 2 YR BOND YIELD:  3.627 DOWN 0 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.18…

10 YR UK BOND YIELD: 4.032 UP 2 PTS

10 YR CANADA BOND YIELD: 3.015 DOWN 1 BASIS PTS

5 YR CANADA BOND YIELD: 2.818 UP 1 PTS.

2a New York OPENING REPORT

Futures Flat Ahead Of Core PCE, China Caps Best Week Since 2008 After Firing Stimulus Bazooka

Friday, Sep 27, 2024 – 08:24 AM

S&P 500 futures are little changed after the cash index hit its 42nd record high for 2024 on Thursday as traders looked to the Fed’s favorite inflation indicator, the core PCE, later Friday for clues on the trajectory of interest rates after a robust GDP data revision. As of 8:00am, S&P futures were down 0.1%, Nasdaq futures dipped 0.2% as megacap tech stocks were mostly lower with NVDA falling -1.3% pre-market. Treasuries rise with 2-, 5-, 10-yr yields 0.41bp, 1.21bp, 1.53bp lower, respectively. The USD reversed its earlier gains as the yen surged as the ruling LDP unexpectedly elected Shigeru Ishiba, a hawkish backer of the BOJ’s efforts to normalize policy, as its new leader over the dovish Sanae Takaichi. Commodities are mixed with Oil and Base Metals higher, while Precious Metals are lower. Today, the key macro focus will be the PCE release: Wall Street expects a headline rise of 0.1% MoM vs. 0.2% prior, while the Core PCE is expected to rise 0.2%, the same as last month’s sequential increase.

In premarket trading, Costco slipped 1% after the warehouse-club chain reported a narrow miss on revenue estimates. While analysts were positive about otherwise strong earnings, some said a clear catalyst was missing to drive shares higher. Cassava Sciences plunged 12% as the drugmaker and two of its former executives agreed to pay more than $40 million to settle SEC charges that they made misleading statements about the results of an Alzheimer’s drug trial. Here are some other notable premarket movers:

• Bristol Myers Squibb rises 4% after gaining US approval for the first new type of schizophrenia drug in seven decades, opening a fresh avenue of treatment for millions with the serious mental disorder.
• Dollar General drops 2% after Citi downgraded the discount retailer to sell, saying Walmart’s market-share gains will continue to pressure the company.
• Establishment Labs climbs 28% after the medical technology company reported US approval for its Motiva breast implants.
• HP Inc. slips 1% as BofA stepped away from its buy rating on concerns about margin erosion in the print unit.
• Udemy shares drops 4% as Morgan Stanley cut its rating to underweight, saying the online-learning platform’s shift in strategy could be a sign of weakening demand.
• Wynn Resorts rises 2% as Morgan Stanley raises its rating to overweight, citing a combination of near-low valuation and an underappreciated opportunity in the UAE.

While traders were focused on today’s core PCE report for clues on the trajectory of interest-rates, China’s daily stimulus announcements, coupled with mounting bets for more interest-rate cuts from the Fed and the European Central Bank have stoked risk appetite across markets this week.

“The data’s saying soft landing — you have to respect the data — but the forward looking indicators are flagging warning signs,” said Andrew Pease, global head of investment strategy at Russell Investments Ltd. “The descent into a soft landing will always look the same as the start of a recession. And you won’t know till after you’ve got there.”

The biggest overnight event was the surge in the yen, which climbed more than 1% against the dollar as Shigeru Ishiba won the vote for leadership of the nation’s ruling party. Ishiba, a party veteran who has served in several senior roles including defense minister, is seen as supportive of the Bank of Japan’s plan to gradually hike rates.

European stocks edge higher, with the Stoxx 600 at session highs, rising 0.5% on track for its best weekly performance since mid-August after the pledges of economic support by China’s leaders drove up luxury and mining stocks. At the same time, the region’s bond yields and the euro fell, as Inflation in France and Spain slowed more than forecast in September, prompting traders to boost bets on the European Central Bank lowering interest rates again next month. The implied odds of a quarter-point reduction in October now stand at ~78% – up from around 20% last week. Bunds rally as a result, with German 10-year yields falling 5 bps to 2.14%.

“In the next 12 months we still see upside to the European and the US markets,” Nataliia Lipikhina, JPMorgan Private Bank’s head of EMEA equity strategy, told Bloomberg TV. “Central banks are cutting, but at the same time fundamentals remain very strong.”

Asia stocks extended weekly advances, with the Shanghai Shenzhen CSI 300 closing +4.5% as China’s central bank stimulus plans continue to be digested. Nikkei 225 and Hang Seng gained 2.3% and 3.6%

Asian stocks rose, capping their best week in nearly two years, helped by an extended rally in China on the nation’s stimulus blitz. The MSCI Asia Pacific Index rose as much as 1.5% on Friday, poised for a weekly gain of 5.7% that would be the most since November 2022. Chinese equities outperformed, with the Shanghai Shenzhen CSI 300 closing +4.5% as China’s central bank stimulus plans continue to be digested. Nikkei 225 and Hang Seng gained 2.3% and 3.6%

The mainland benchmark CSI 300 capped its best week since 2008 as the People’s Bank of China unleashed one of the country’s most daring policy campaigns in decades, with Beijing rolling out a strong stimulus package in a push to shore up the slowing economy and investor confidence and announcing a series of monetary easing measures while top government leaders vowed new measures to stabilize the property sector and boost spending.

With stock turnover reaching 710 billion yuan ($101 billion) in the first hour of trading Friday, the Shanghai Stock Exchange was marred by glitches in processing orders and delays, according to messages from brokerages seen by Bloomberg. Copper rallied back above $10,000 a ton and iron ore broke through $100 a ton.

“If China goes with the ‘whatever it takes’ on the fiscal stimulus, and this has not been yet confirmed, this will be a game changer for China and therefore for the rest of the world, notably Europe which is export led,” Monica Defend, head of Amundi Institute told Bloomberg TV.

By holding the politburo meeting in September rather than December, China’s leaders sent “a signal that the authorities are willing to take more urgent action to achieve the 5% growth target,” senior analysts including Robert Carnell at ING Groep NV said in a note. “We saw a more aggressive-than-expected policy package from the PBOC this week and it is reasonable to expect other policies will soon follow.”

“This policy shift could be a game changer for Chinese risk assets but is contingent on both execution and continuation. The broad market can rally by another high single-digit percentage. Whether it can rally further than our target will depend on whether the government can execute their plan efficiently and announce more fiscal measures to support growth,” wrote Mark Haefele, CIO, UBS Global Wealth Management.

In FX, the Bloomberg Dollar Spot Index reversed earlier gains and was at session lows, after falling by 0.4% yesterday. The euro dropped 0.1%, off its session lows. The yen is the strongest of the G-10 currencies, rising 1.1% against the greenback after Japan’s ruling party picked Shigeru Ishiba as its next leader. “We think the new cabinet under Ishiba will be broadly supportive of the BOJ’s current gradual policy normalization plans, and this should push the yen higher in the coming months,” said Homin Lee, senior macro strategist at Lombard Odier. “Our base case remains another 25 basis point hike by the BOJ in December and further decline in USD/JPY to 135 in 12 months”

In rates, Treasuries hold small gains across the curve with futures off session highs in early US session. US 10-year yields around 3.78% were 2bps lower on the day, trailing German 10-year by ~1bp. Front-end German yields are ~2bp lower on the day with swaps market pricing in roughly 80% chance of a quarter-point move by the ECB in October. German rates outperform as momentum builds for ECB rate cuts following another batch of weak economic data. US session features August personal income and spending data and related PCE price indexes along with a couple of Fed speakers.  

In commodities, oil steadied after a sharp two-day drop, with prices still on course for a substantial weekly decline on prospects of more supply from OPEC members Saudi Arabia and Libya. WTI traded near $67.60 a barrel. Spot gold falls $12 to around $2,660/oz, just shy of record highs, and was headed for a third weekly gain after setting successive record highs on optimism the Fed will maintain an aggressive pace of interest-rate cuts this year.

Looking at today’s calendar, we get the August core PCE data which includes personal income/spending, trade balance and wholesale inventories (8:30am), September final University of Michigan sentiment (10am) and September Kansas City Fed services activity (11am). Fed speakers scheduled include Collins (9:30am) and Bowman (1:15pm)

Market Snapshot

• S&P 500 futures little changed at 5,801.75
• STOXX Europe 600 up 0.3% to 527.12
• MXAP up 1.4% to 197.00
• MXAPJ up 1.2% to 619.46
• Nikkei up 2.3% to 39,829.56
• Topix up 0.7% to 2,740.94
• Hang Seng Index up 3.6% to 20,632.30
• Shanghai Composite up 2.9% to 3,087.53
• Sensex down 0.2% to 85,627.90
• Australia S&P/ASX 200 up 0.1% to 8,212.24
• Kospi down 0.8% to 2,649.78
• German 10Y yield little changed at 2.13%
• Euro down 0.4% to $1.1136
• Brent Futures up 0.3% to $71.84/bbl
• Gold spot down 0.4% to $2,662.94
• US Dollar Index up 0.14% to 100.71

Top Overnight News

• US President Biden signed the three-month government funding bill on Thursday to avert an imminent shutdown.
• The yen reversed losses and surged against the dollar while Japanese stock futures fell after former defense minister Shigeru Ishiba won the leadership of the nation’s ruling party, beating a rival who opposed interest rate hikes.
• China cut the amount of cash banks must keep in reserve Friday and lowered a key policy rate, as Beijing rolls out a strong stimulus package unveiled this week in a push to shore up the slowing economy and investor confidence.
• Billionaire investor David Tepper is buying more of “everything” related to China after Beijing rolled out sweeping stimulus measures that exceeded expectations.
• Inflation expectations of consumers in the euro area decreased in August, according to the European Central Bank — bolstering the growing case for another reduction in interest rates next month.
• Stocks traded mixed at the end of a week that saw benchmarks in the US and Europe hit records amid optimism over central bank easing and stimulus from China. The yen swung to gains following Japanese election results.
• France’s status as one of the safest bond markets in Europe risks coming to an end as a fragile minority government struggles to address a debt problem years in the making.
• Fed’s Cook (voter) said she wholeheartedly supported the 50bps rate cut and on the path of policy, will look carefully at the data, outlook and balance of risks. Cook said normalisation of the economy, particularly of inflation, is quite welcome and the labour market is solid but has cooled noticeably and it may become more difficult for some to find employment. Furthermore, she sees significant easing in inflationary pressure, as well as noted that upside risks to inflation have diminished and downside risks to employment have increased.
• NY Fed’s Perli said there is plenty of room to further reduce the Fed’s balance sheet and noted the pressures in the repo market do not currently appear to be close to the point of affecting the federal funds rate, according to Reuters.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks followed suit to the gains on Wall St where sentiment was underpinned and the S&P 500 extended on record highs owing to China’s policy support and strong US data, while Chinese stimulus remained the main driving force overnight. ASX 200 was rangebound with strength in mining, materials and resources was counterbalanced by losses in defensives, while consumer stocks were also pressured with Star Entertainment shares down by more than 40% after its recent  substantial FY loss. Nikkei 225 rallied at the open and climbed above the 39,000 level owing to a weaker currency. The index then pared the majority of its early gains as the JPY nursed some of its losses and with participants awaiting the LDP leadership vote, but then caught a second wind in late trade as dovish LPD candidate Takaichi is said to face Ishiba in Japan’s LDP runoff. Hang Seng and Shanghai Comp rallied again owing to China’s stimulus drive with China to issue USD 284bln of sovereign debt as part of fresh fiscal stimulus, while the securities regulator also issued guidance to promote long-term capital entering the market. Furthermore, the PBoC announced its 50bps RRR cut took effect today and set the 7-day reverse repo rate at 1.50% vs prev. 1.70%, as previously guided earlier this week.

Top Asian news

• PBoC announced its 50bps RRR cut took effect from today and said the weighted average RRR for financial institutions was now at 6.6% after the new cut, while it set the 7-day reverse repo rate at 1.50% vs prev. 1.70%, as previously guided earlier this week and injected CNY 278bln via 14-day reverse repos with the rate lowered to 1.65% from 1.85%.
• Shanghai and Shenzhen to lift key remaining home purchases curbs to boost market; to remove curbs on non-local residents residents from buying homes; to scrap limits on number of homes Chinese can buy, via Reuters citing sources. Expected to announce the changes in the coming weeks. Capital Beijing considers limiting similar restrictions expect in key districts.
• China’s PBoC said the impact of the recently announced incremental interest rate policy on banks’ net interest margins remains neutral overall.
• Chinese Aug Services Trade deficit USD 21.3bln; Jan-Aug Services Trade Deficit USD 164.9bln, according FX regulator

Japanese LDP Leadership Election:

• Ex-Defense Minister Ishiba (hawkish candidate) wins Japan’s ruling party leadership election and to become the nation’s next Prime Minister, Ishiba received 215 votes (208 majority), Takaichi (dovish candidate) received 194 votes
• Japan Economic Security Minister Takaichi gets 181 votes in ruling party leadership race and will face off Ishiba in Japan LDP runoff. Ex-Defence Minister Ishiba gets 154 votes in LDP leadership race, both short of a majority, according to Reuters. Run-off results expected around 07:00BST. Note: Takaichi is an advocate for BoJ easing, and she had previously noted that the BoJ hiked rates too soon.
• Incoming Japanese PM Ishiba says he aims to accelerate Kishida’s new capitalism pledge; “we must ensure to exit from deflation”; plans to hold lower house election at an early timing. There is a time lag for wage growth to exceed inflation; must scrutinise what will be the most effective step to cushion the blow from rising inflation.

European bourses, Stoxx 600 (+0.2%) are modestly firmer, with the mood somewhat tentative ahead of US PCE. The gains across indices are relatively broad-based and range from +0.1% to +0.4%. Sub-forecast inflation metrics from France and Spain did little to the equity complex despite a more dovish shift in ECB market pricing. European sectors are mixed; China-exposed sectors (Luxury, Basic Resources) initially outperformed, but Basic Resources has slowly drifted towards the middle of the pack. Banks and Insurance are at the foot of the pile. US equity futures (ES -0.1%, NQ -0.3%, YM -0.1% RTY U/C) are mixed, with the RTY holding modest gains whilst peers remains subdued ahead of the US PCE.

Top European news

• UK Chancellor Reeves is prepared to water down the planned Budget tax raid on ‘non-doms’ amid fears it may fail to raise any money, according to people familiar with the matter cited by FT.
• BNP now sees the ECB cutting interest rates by 25bps in October.
• ECB Consumer Expectations Survey (Aug): See inflation in next 12 months at 2.7% (prev. 2.8%); 3y ahead sees 2.3% (prev. 2.4%)

FX

• USD is stronger vs. peers with the exception of the JPY (see below). US macro focus today will be on the August PCE numbers. For now, DXY remains stuck on a 100 handle within a 100.45-88 trading band.
• EUR is softer vs. the USD following soft inflation metrics from France and Spain ahead of next week’s EZ-wide print. EUR/USD has been as low as 1.1125 which near-enough matches yesterday’s low.
• GBP is on the backfoot vs. the USD, giving back some of the gains seen during yesterday’s risk-on session. Cable is currently tucked within yesterday’s 1.3312-1.3434 range.
• An eventful session for the JPY amid the LDP leadership race whereby initial indications pointed towards a potential victory for dovish candidate Takaichi and subsequently saw USD/JPY soar towards an overnight peak at 146.49. However, Ishiba’s victory in the run-off sparked a hawkish reaction in the JPY and dragged USD/JPY to a 142.80 base; lowest level since September 20th.
• Both Antipodes are softer vs. the USD and giving back some of yesterday’s gains. AUD/USD has slipped back onto a 0.68 handle after venturing as high as 0.6904 yesterday.

Fixed Income

• USTs are firmer but to a lesser extent than peers given that price action on the other side of the Atlantic is more a by-product of EZ-specific events. From a US perspective, attention will be on the August PCE data. The 10yr yield is currently tucked within yesterday’s 3.754-3.821% range.
• Bunds are on a firmer footing, lifted by the lower-than-expected inflation metrics out of Spain and France; figures which has sparked some dovish repricing seen for the ECB’s October meeting. The German 10yr yield has printed a new low for the week at 2.11%.
• Gilts are being swept up by the broader bullish moves seen across global counterparts. Fresh UK-specific drivers have been lacking during today’s session. The UK 10yr yield is now back below the 4% mark at 3.98%.
• Italy sells EUR 7bln vs exp. EUR 5.75-7bln 3.00% 2029, 3.85% 2035, 3.00% 2029 BTP & EUR 1.75bln vs exp. EUR 1.25-1.75bln 2030 CCTeu

Commodities

• Upward bias in crude prices this morning following the firm APAC performance amid the Chinese stimulus announced earlier in the week, whilst the geopolitical landscape remains tense. Brent sits in a USD 70.99-72.14/bbl range.
• Subdued trade across precious metals following the prior day’s volatility, with traders awaiting the US PCE data. XAU resides in a USD 2,661-2,672.23/oz range.
• Mixed trade across base metals as the complex takes a breather from the rally seen after China unveiled its stimulus bazooka on Tuesday, although base metals hold onto a bulk of its recent gains ahead of US PCE.
• BSEE reported that 25% (prev. 29%) of oil production and 20% (prev. 17%) of natgas production in the Gulf of Mexico is shut (prev. 17%) in response to Hurricane Helene (prev. 29%).
• NHC said hurricane Helene is accelerating North-Northeast through Georgia

Geopolitics – Middle East

• “Jordanian army announces the downing of a drone that tried to infiltrate Jordanian territory in the southern military region”, according to Sky News Arabia
• “IRNA: Iran’s foreign minister said Tehran will not remain idle towards all-out war in Lebanon”, according to Al Arabiya.
• “Syrian News Agency: 5 soldiers were killed in an Israeli aggression targeting a military site on the Syrian-Lebanese border”, according to Al Jazeera
• “An informed source for Sky News Arabia: The truce initiative has not yet been rejected and the effort continues to reach a truce for 21 days”, according to Sky News Arabia.
• Israeli PM Netanyahu said he had a meeting on Thursday to discuss the US ceasefire initiative and that they will continue these discussions in the coming days, according to Reuters.
• Lebanese Parliament Speaker Nabih Berri told L’Orient Le Jour newspaper that Israeli PM Netanyahu lies to everyone and retracted his approval of the initiative, while Berri said that they adhere to the revival of the demand for a ceasefire in Gaza as in Lebanon.
• US and Israeli officials held talks on Lebanon in New York on Thursday and discussions continued for a 21-day ceasefire, according to the White House. It was later reported that Secretary of State Blinken and Israeli Minister of Strategic Affairs Dermer emphasised the need for a ceasefire and Blinken underscored that further escalation of the conflict will only make that objective more difficult.
• French President Macron said the US has to increase pressure on Israeli PM Netanyahu to agree to the 21-day ceasefire, while he added Israel cannot invade Lebanon today and it would be a huge mistake, according to an interview with CBC
• Former US President Trump responded that he would do that when asked if he would make a deal with Iran if he is elected, while he also commented that the war in the Middle East has to end.
• Israeli Walla website stated the Israeli army attacked 1,600 targets in Lebanon during the past day, according to Al Jazeera.
• Israeli Air Force Chief said they will stop any arms transfer by Iran to Hezbollah and are preparing to assist troops in ground operations against Hezbollah.
• Israeli army said missiles were fired from Yemen and the interceptor was launched, while it added that the ‘Arrow’ aerial defence system made a successful interception.

Geopolitics – Other

• Former US President Trump said he will meet with Ukrainian President Zelensky on Friday and that he has some disagreements with Zelensky, while he responded “We’ll see what happens” when asked if Ukraine should hand over some land to Russia to end the war.
• Romanian Defence Ministry said it is possible one Russian drone from the overnight attack on Ukraine entered Romanian air space for under three minutes.

US Event Calendar

• 08:30: Aug. PCE Price Index MoM, est. 0.1%, prior 0.2%
  • PCE Price Index YoY, est. 2.3%, prior 2.5%
  • Core PCE Price Index YoY, est. 2.7%, prior 2.6%
  • Core PCE Price Index MoM, est. 0.2%, prior 0.2%
  • Real Personal Spending, est. 0.1%, prior 0.4%
  • Personal Spending, est. 0.3%, prior 0.5%
  • Personal Income, est. 0.4%, prior 0.3%
• 08:30: Aug. Advance Goods Trade Balance, est. -$100.2b, prior -$102.7b, revised -$102.8b
• 08:30: Aug. Retail Inventories MoM, est. 0.5%, prior 0.8%
  • Wholesale Inventories MoM, est. 0.2%, prior 0.2%
• 10:00: Sept. U. of Mich. Sentiment, est. 69.4, prior 69.0
• Sept. U. of Mich. Current Conditions, est. 63.0, prior 62.9
• Sept. U. of Mich. Expectations, est. 73.4, prior 73.0
• Sept. U. of Mich. 1 Yr Inflation, est. 2.7%, prior 2.7%
• 10:Sept. U. of Mich. 5-10 Yr Inflation, est. 3.0%, prior 3.1%
• 11:00: Sept. Kansas City Fed Services Activ, prior 5

Central banks

• 09:30: Fed’s Collins, Kugler Travel to Fitchburg, Mass.
• 13:15: Fed’s Bowman Speaks to Alabama Bankers’ Association

DB’s Jim Reid concludes the overnight wrap

We come to the end of a week where statistically there are more birthdays than any other. So a block happy birthday for probably over 2% of you! For those able to do mental arithmetic I’m sure you can work out why this week is so popular. On that note my daughter was born 10 days early in mid-September and the twins a month early towards the end of August!

Most days this week have felt like a birthday celebration for markets and this has carried on over the last 24 hours as we hit US core PCE day. Multiple factors have helped to boost risk appetite and lift both the S&P 500 (+0.40%) and the STOXX 600 (+1.25%) to new records. First up, we found out just as we went to press yesterday that the Chinese politburo would be offering more support on fiscal spending and the property sector. Details are pending before the week long holiday on October 1st (Tuesday).

This was all greeted positively by global markets and for China-exposed stocks in particular, not least after the stimulus measures from the PBoC earlier in the week. Chinese indices are up a further 2-6% overnight as we’ll see below and on course for their best week since 2008.

Europe has certainly out-performed the US since these stimulus announcements have come through. In addition, the latest batch of US data beat expectations yesterday, with the weekly initial jobless claims hitting a 4-month low last week. So that offered further reassurance against any fears of an imminent downturn.

In Asia, yesterday saw the Hang Seng advance +4.16%, which was its best daily performance since March 2023, and this morning it’s up another +3.66%. That means the index is up over +13% this week as a whole, which is its best weekly performance since 2011. Elsewhere the CSI 300 (+2.67%) is on course for its best week since 2008 with the Shanghai Composite (+2.07%) also seeing a notable increase. The Shenzhen Composite is up +5.73%. Meanwhile, industrial profits for August saw a -17.8% drop y/y following a +4.1% increase in July. Separately, the PBOC reduced the seven-day reverse repo rate from 1.7% to 1.5% in a further measure after this week’s blitz.

In contrast overnight, the Nikkei (+0.10%) is seeing minor gains with the KOSPI (-0.21%) diverging from the regional trend. S&P 500 (-0.05%) and NASDAQ 100 (-0.15%) futures are edging lower. Early morning data showed that the Tokyo Consumer Price Index (CPI) increased +2.2% y/y as expected in September, down from a +2.6% rise in August. Following the data release, the Japanese Yen (-0.38%) is dipping for the third successive session trading at 145.40 against the dollar as we await the results of the LDP leadership election. The results should be out just after this hits your inbox and could shape domestic monetary policy over the next year depending on who wins.

Back to yesterday and with the latest news from China, that meant it was also another strong day for stocks in the US and Europe with China exposure. For instance, the CAC 40 (+2.33%) saw its best day since November 2022, led by outsized gains for luxury goods stocks including LVMH (+9.88%) and Hermes (+9.10%). Meanwhile the DAX (+1.69%) posted a new record high of its own, as both industrial stocks such as Siemens (+5.33%) and automakers such as BMW (+3.81%) outperformed. And in the US, the NASDAQ Golden Dragon China Index surged by +10.85%.

The equity gains in the US were more moderate than elsewhere, with the S&P 500 (+0.40%) giving up half of its opening +0.8% gain by the close. Energy stocks (-2.00%) saw a sizeable decline as Brent crude fell -2.53% to $71.60/bbl amid improved prospects for Libyan oil supply as well as an FT report that Saudi Arabia may seek to regain its oil market share. On the upside, the NASDAQ (+0.60%) saw a decent gain, led by a +14.73% gain for Micron after its results the previous evening. However, the tech mega caps underperformed with the Mag-7 -0.09% lower on the day.

Even as global investors were absorbing the news from China, they also received another positive set of data from the US, which helped to allay fears about a potential recession. In particular, the weekly initial jobless claims fell to 218k in the week ending September 21 (vs. 223k expected), which is the lowest they’ve been since May. Moreover, there are growing signs that this is becoming an established trend, as the 4-week moving average was down to 224.75k, which is also the lowest since May. And if that wasn’t enough, we also had the annual revisions to US GDP, which showed that recent economic performance was stronger than previously thought. The most recent quarter in Q2 was left unchanged, but Q1 was revised up two-tenths to an annualised +1.6% rate. In addition, full-year growth for 2023 was revised up four-tenths to +2.9%, and 2022 was revised up six-tenths to +2.5%.

With all that data in hand, investors moved to dial back the chance that the Fed would deliver another 50bp rate cut in November, lowering the probability from 62% to 51% by the close. Clearly the main determinant of that is likely to be the next couple of jobs reports, but those releases yesterday helped to push back on the view that the US economy was experiencing a sharper slowdown, which was a significant fear earlier in Q3. And in turn, that meant that the recent run of curve steepening came to an end, with the 2yr yield up +7.0bps to 3.63%, its biggest increase in six weeks, whilst the 10yr yield was only up +1.1bps to 3.80%.
Over in Europe, there was also an interesting Reuters headline yesterday, which said that the doves at the ECB were going to push for a rate cut at the next meeting in October. That comes against the backdrop of weak European data over recent days, particularly from the flash PMIs, and that had already led markets to dial up the likelihood of another ECB cut in response.

Markets didn’t see a big reaction though, with yields on 10yr bunds (+0.7bps) seeing little change. The China news this week might temper some of the momentum that had been building towards an October ECB cut. So a battle between current weak domestic data and potentially better international prospects is emerging.

But even as bunds saw little change yesterday, French OATs were a continued underperformer. In fact, yesterday saw the Franco-German 10yr spread close above 80bps for the first time since the first round of the legislative election, back when uncertainty about the outcome was at its height. On top of that, the French 10yr yield moved above Spain’s yesterday for the first time since 2007, so that was a significant milestone, and I looked at the history of that spread in my chart of the day yesterday (link here) back to the end of WWII.

Finally, yesterday’s other data showed that Euro Area M3 money supply growth picked up to +2.9% year-on-year in August (vs. +2.5% expected), which is the strongest since January 2023. Otherwise in the US, the preliminary August reading for durable goods orders was unchanged (vs. -2.6% expected), and the reading excluding transportation was up +0.5% (vs. +0.1% expected). Finally, US pending home sales were up +0.6% in August (vs. +1.0% expected).

To the day ahead now, and data releases include US PCE inflation for August, along with personal income and personal spending for August, as well as the University of Michigan’s final consumer sentiment index for September. Meanwhile in Europe, data releases include the French and Spanish CPI prints for September and German unemployment for September. From central banks, we’ll hear from the Fed’s Collins, Kugler and Bowman, and the ECB’s Rehn, Lane, Cipollone and Nagel.

2B) European report

Japan elects hawkish candidate, ECB rate cut bets rise, PCE due – Newsquawk US Market Open

FRIDAY, SEP 27, 2024 – 05:00 AM

• European bourses are very modestly firmer, whilst US equity futures are mixed ahead of US PCE
• Dollar is stronger vs peers, but losing vs JPY after hawkish candidate Ishiba won the Japanese LDP leadership race to become the next Japanese PM
• Bunds outperform following softer-than-expected inflation metrics out of Spain & France; figures which led to further dovish repricing for the ECB’s October meeting
• Crude oil is modestly firmer with the geopolitical landscape remaining tense, precious metals are subdued whilst base metals are mixed
• Looking ahead, US PCE, UoM Sentiment (Final), Fed’s Collins, Kugler & Bowman

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EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (+0.2%) are modestly firmer, with the mood somewhat tentative ahead of US PCE. The gains across indices are relatively broad-based and range from +0.1% to +0.4%. Sub-forecast inflation metrics from France and Spain did little to the equity complex despite a more dovish shift in ECB market pricing.
• European sectors are mixed; China-exposed sectors (Luxury, Basic Resources) initially outperformed, but Basic Resources has slowly drifted towards the middle of the pack. Banks and Insurance are at the foot of the pile.
• US equity futures (ES -0.1%, NQ -0.3%, YM -0.1% RTY U/C) are mixed, with the RTY holding modest gains whilst peers remains subdued ahead of the US PCE.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• USD is stronger vs. peers with the exception of the JPY (see below). US macro focus today will be on the August PCE numbers. For now, DXY remains stuck on a 100 handle within a 100.45-88 trading band.
• EUR is softer vs. the USD following soft inflation metrics from France and Spain ahead of next week’s EZ-wide print. EUR/USD has been as low as 1.1125 which near-enough matches yesterday’s low.
• GBP is on the backfoot vs. the USD, giving back some of the gains seen during yesterday’s risk-on session. Cable is currently tucked within yesterday’s 1.3312-1.3434 range.
• An eventful session for the JPY amid the LDP leadership race whereby initial indications pointed towards a potential victory for dovish candidate Takaichi and subsequently saw USD/JPY soar towards an overnight peak at 146.49. However, Ishiba’s victory in the run-off sparked a hawkish reaction in the JPY and dragged USD/JPY to a 142.80 base; lowest level since September 20th.
• Both Antipodes are softer vs. the USD and giving back some of yesterday’s gains. AUD/USD has slipped back onto a 0.68 handle after venturing as high as 0.6904 yesterday.
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are firmer but to a lesser extent than peers given that price action on the other side of the Atlantic is more a by-product of EZ-specific events. From a US perspective, attention will be on the August PCE data. The 10yr yield is currently tucked within yesterday’s 3.754-3.821% range.
• Bunds are on a firmer footing, lifted by the lower-than-expected inflation metrics out of Spain and France; figures which has sparked some dovish repricing seen for the ECB’s October meeting. The German 10yr yield has printed a new low for the week at 2.11%.
• Gilts are being swept up by the broader bullish moves seen across global counterparts. Fresh UK-specific drivers have been lacking during today’s session. The UK 10yr yield is now back below the 4% mark at 3.98%.
• Italy sells EUR 7bln vs exp. EUR 5.75-7bln 3.00% 2029, 3.85% 2035, 3.00% 2029 BTP & EUR 1.75bln vs exp. EUR 1.25-1.75bln 2030 CCTeu
• Click for a detailed summary

COMMODITIES

• Upward bias in crude prices this morning following the firm APAC performance amid the Chinese stimulus announced earlier in the week, whilst the geopolitical landscape remains tense. Brent sits in a USD 70.99-72.14/bbl range.
• Subdued trade across precious metals following the prior day’s volatility, with traders awaiting the US PCE data. XAU resides in a USD 2,661-2,672.23/oz range.
• Mixed trade across base metals as the complex takes a breather from the rally seen after China unveiled its stimulus bazooka on Tuesday, although base metals hold onto a bulk of its recent gains ahead of US PCE.
• BSEE reported that 25% (prev. 29%) of oil production and 20% (prev. 17%) of natgas production in the Gulf of Mexico is shut (prev. 17%) in response to Hurricane Helene (prev. 29%).
• NHC said hurricane Helene is accelerating North-Northeast through Georgia
• Click for a detailed summary

NOTABLE DATA RECAP

• French CPI Prelim MM NSA (Sep) -1.2% vs. Exp. -0.70% (Prev. 0.50%); CPI Prelim YY NSA (Sep) 1.2% vs. Exp. 1.60% (Prev. 1.80%); Producer Prices YY (Aug) -6.3% (Prev. -5.40%) Consumer Spending MM (Aug) 0.2% vs. Exp. -0.10% (Prev. 0.30%) CPI (EU Norm) Prelim YY (Sep) 1.5% vs. Exp. 2.0% (Prev. 2.2%) Consumer Spending MM (Aug) 0.2% vs. Exp. -0.1% (Prev. 0.3%, Rev. 0.2%) Producer Prices MM (Aug) 0.2% (Prev. 0.2%, Rev. 0.3%).
• Spanish HICP Flash MM (Sep) -0.10% vs. Exp. 0.00% (Prev. 0.00%); CPI MM Flash NSA (Sep) -0.60% vs. Exp. -0.10% (Prev. 0.00%); CPI YY Flash NSA (Sep) 1.50% vs. Exp. 1.90% (Prev. 2.30%); core 2.40% vs. Exp. 2.80% (Prev. 2.70%); HICP Flash YY (Sep) 1.7% vs. Exp. 1.9% (Prev. 2.4%); Spanish GDP Final QQ (Q2) 0.8% vs. Exp. 0.8% (Prev. 0.8%); GDP YY (Q2) 3.1% vs. Exp. 2.9% (Prev. 2.9%); GDP Final QQ (Q2) 0.8% vs. Exp. 0.8% (Prev. 0.8%).
• German Unemployment Rate SA (Sep) 6.0% vs. Exp. 6.0% (Prev. 6.0%); Unemployment Chg SA (Sep) 17.0k vs. Exp. 12.0k (Prev. 2.0k); Unemployment Total SA (Sep) 2.823M (Prev. 2.801M); Unemployment Total NSA (Sep) 2.806M (Prev. 2.872M).
• Italian Industrial Sales YY WDA (Jul) -4.7% (Prev. -3.7%); Industrial Sales MM SA (Jul) -0.4% (Prev. 0.1%)
• EU Industrial Sentiment (Sep) -10.9 vs. Exp. -9.9 (Prev. -9.7, Rev. -9.9); Services Sentiment (Sep) 6.7 vs. Exp. 5.9 (Prev. 6.3, Rev. 6.4); Economic Sentiment (Sep) 96.2 vs. Exp. 96.5 (Prev. 96.6, Rev. 96.5); Selling Price Expec (Sep) 6.2 (Prev. 6.1, Rev. 6.2); Cons Infl Expec (Sep) 10.9 (Prev. 11.3)

NOTABLE EUROPEAN HEADLINES

• UK Chancellor Reeves is prepared to water down the planned Budget tax raid on ‘non-doms’ amid fears it may fail to raise any money, according to people familiar with the matter cited by FT.
• BNP now sees the ECB cutting interest rates by 25bps in October.
• ECB Consumer Expectations Survey (Aug): See inflation in next 12 months at 2.7% (prev. 2.8%); 3y ahead sees 2.3% (prev. 2.4%)

NOTABLE US HEADLINES

• Fed’s Cook (voter) said she wholeheartedly supported the 50bps rate cut and on the path of policy, will look carefully at the data, outlook and balance of risks. Cook said normalisation of the economy, particularly of inflation, is quite welcome and the labour market is solid but has cooled noticeably and it may become more difficult for some to find employment. Furthermore, she sees significant easing in inflationary pressure, as well as noted that upside risks to inflation have diminished and downside risks to employment have increased.
• NY Fed’s Perli said there is plenty of room to further reduce the Fed’s balance sheet and noted the pressures in the repo market do not currently appear to be close to the point of affecting the federal funds rate, according to Reuters.
• US President Biden signed the three-month government funding bill on Thursday to avert an imminent shutdown.

GEOPOLITICS

MIDDLE EAST

• “Jordanian army announces the downing of a drone that tried to infiltrate Jordanian territory in the southern military region”, according to Sky News Arabia
• “IRNA: Iran’s foreign minister said Tehran will not remain idle towards all-out war in Lebanon”, according to Al Arabiya.
• “Syrian News Agency: 5 soldiers were killed in an Israeli aggression targeting a military site on the Syrian-Lebanese border”, according to Al Jazeera
• “An informed source for Sky News Arabia: The truce initiative has not yet been rejected and the effort continues to reach a truce for 21 days”, according to Sky News Arabia.
• Israeli PM Netanyahu said he had a meeting on Thursday to discuss the US ceasefire initiative and that they will continue these discussions in the coming days, according to Reuters.
• Lebanese Parliament Speaker Nabih Berri told L’Orient Le Jour newspaper that Israeli PM Netanyahu lies to everyone and retracted his approval of the initiative, while Berri said that they adhere to the revival of the demand for a ceasefire in Gaza as in Lebanon.
• US and Israeli officials held talks on Lebanon in New York on Thursday and discussions continued for a 21-day ceasefire, according to the White House. It was later reported that Secretary of State Blinken and Israeli Minister of Strategic Affairs Dermer emphasised the need for a ceasefire and Blinken underscored that further escalation of the conflict will only make that objective more difficult.
• French President Macron said the US has to increase pressure on Israeli PM Netanyahu to agree to the 21-day ceasefire, while he added Israel cannot invade Lebanon today and it would be a huge mistake, according to an interview with CBC
• Former US President Trump responded that he would do that when asked if he would make a deal with Iran if he is elected, while he also commented that the war in the Middle East has to end.
• Israeli Walla website stated the Israeli army attacked 1,600 targets in Lebanon during the past day, according to Al Jazeera.
• Israeli Air Force Chief said they will stop any arms transfer by Iran to Hezbollah and are preparing to assist troops in ground operations against Hezbollah.
• Israeli army said missiles were fired from Yemen and the interceptor was launched, while it added that the ‘Arrow’ aerial defence system made a successful interception.

OTHER

• Former US President Trump said he will meet with Ukrainian President Zelensky on Friday and that he has some disagreements with Zelensky, while he responded “We’ll see what happens” when asked if Ukraine should hand over some land to Russia to end the war.
• Romanian Defence Ministry said it is possible one Russian drone from the overnight attack on Ukraine entered Romanian air space for under three minutes.

CRYPTO

• Bitcoin edges higher and climbs above USD 65.5k, benefiting from the positive risk tone seen in recent sessions.

APAC TRADE

• APAC stocks followed suit to the gains on Wall St where sentiment was underpinned and the S&P 500 extended on record highs owing to China’s policy support and strong US data, while Chinese stimulus remained the main driving force overnight.
• ASX 200 was rangebound with strength in mining, materials and resources was counterbalanced by losses in defensives, while consumer stocks were also pressured with Star Entertainment shares down by more than 40% after its recent substantial FY loss.
• Nikkei 225 rallied at the open and climbed above the 39,000 level owing to a weaker currency. The index then pared the majority of its early gains as the JPY nursed some of its losses and with participants awaiting the LDP leadership vote, but then caught a second wind in late trade as dovish LPD candidate Takaichi is said to face Ishiba in Japan’s LDP runoff.
• Hang Seng and Shanghai Comp rallied again owing to China’s stimulus drive with China to issue USD 284bln of sovereign debt as part of fresh fiscal stimulus, while the securities regulator also issued guidance to promote long-term capital entering the market. Furthermore, the PBoC announced its 50bps RRR cut took effect today and set the 7-day reverse repo rate at 1.50% vs prev. 1.70%, as previously guided earlier this week.

NOTABLE ASIA-PAC HEADLINES

• PBoC announced its 50bps RRR cut took effect from today and said the weighted average RRR for financial institutions was now at 6.6% after the new cut, while it set the 7-day reverse repo rate at 1.50% vs prev. 1.70%, as previously guided earlier this week and injected CNY 278bln via 14-day reverse repos with the rate lowered to 1.65% from 1.85%.
• Shanghai and Shenzhen to lift key remaining home purchases curbs to boost market; to remove curbs on non-local residents residents from buying homes; to scrap limits on number of homes Chinese can buy, via Reuters citing sources. Expected to announce the changes in the coming weeks. Capital Beijing considers limiting similar restrictions expect in key districts.
• China’s PBoC said the impact of the recently announced incremental interest rate policy on banks’ net interest margins remains neutral overall.
• Chinese Aug Services Trade deficit USD 21.3bln; Jan-Aug Services Trade Deficit USD 164.9bln, according FX regulator

Japanese LDP Leadership Election:

• Ex-Defense Minister Ishiba (hawkish candidate) wins Japan’s ruling party leadership election and to become the nation’s next Prime Minister, Ishiba received 215 votes (208 majority), Takaichi (dovish candidate) received 194 votes
• Japan Economic Security Minister Takaichi gets 181 votes in ruling party leadership race and will face off Ishiba in Japan LDP runoff. Ex-Defence Minister Ishiba gets 154 votes in LDP leadership race, both short of a majority, according to Reuters. Run-off results expected around 07:00BST. Note: Takaichi is an advocate for BoJ easing, and she had previously noted that the BoJ hiked rates too soon.
• Incoming Japanese PM Ishiba says he aims to accelerate Kishida’s new capitalism pledge; “we must ensure to exit from deflation”; plans to hold lower house election at an early timing. There is a time lag for wage growth to exceed inflation; must scrutinise what will be the most effective step to cushion the blow from rising inflation.

DATA RECAP

• Chinese Industrial Profit YTD YY (Aug) 0.5% (Prev. 3.6%)
• Chinese Industrial Profits YY (Aug) -17.8% Y/Y (prev. 4.1%)
• Tokyo CPI YY (Sep) 2.2% vs. Exp. 2.2% (Prev. 2.6%)
• Tokyo CPI Ex. Fresh Food YY (Sep) 2.0% vs. Exp. 2.0% (Prev. 2.4%)
• Tokyo CPI Ex. Fresh Food & Energy YY (Sep) 1.6% vs. Exp. 1.6% (Prev. 1.6%)

2C ASIAN REPORT.

APAC stocks followed gains on Wall Street, Chinese stimulus the main driver – Newsquawk Europe Open

FRIDAY, SEP 27, 2024 – 01:06 AM

• APAC stocks followed suit to the gains on Wall St; Chinese stimulus remained the main driving force overnight.
• Nikkei 225 and USD/JPY upside were seen as dovish LPD candidate Takaichi is said to face Ishiba in Japan’s LDP runoff.
• Fed’s Cook (voter) said upside risks to inflation have diminished and downside risks to employment have increased.
• European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.3% after the cash market closed higher by 2.4% on Thursday.
• Looking ahead, highlights include French & Spanish CPI, German Unemployment Rate, EZ Sentiment, UoM Sentiment (Final), Speakers including ECB’s Lane & Cipollone, Fed’s Collins, Kugler & Bowman, and Supply from Italy.

SNAPSHOT

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US TRADE

EQUITIES

• US stocks finished higher in which the S&P 500 notched another record close with early momentum seen following China’s continued stimulus efforts and with tailwinds from recent encouraging data releases, although the major indices were off their intraday highs amid lingering geopolitical concerns after Israel rejected the 21-day ceasefire proposal and continued its strikes on Lebanon.
• SPX +0.4% at 5,745, NDX +0.7% at 20,115, DJIA +0.6% at 42,175, RUT +0.6% at 2,210.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Fed’s Cook (voter) said she wholeheartedly supported the 50bps rate cut and on the path of policy, will look carefully at the data, outlook and balance of risks. Cook said normalisation of the economy, particularly of inflation, is quite welcome and the labour market is solid but has cooled noticeably and it may become more difficult for some to find employment. Furthermore, she sees significant easing in inflationary pressure, as well as noted that upside risks to inflation have diminished and downside risks to employment have increased.
• NY Fed’s Perli said there is plenty of room to further reduce the Fed’s balance sheet and noted the pressures in the repo market do not currently appear to be close to the point of affecting the federal funds rate, according to Reuters.
• US President Biden signed the three-month government funding bill on Thursday to avert an imminent shutdown.

APAC TRADE

EQUITIES

• APAC stocks followed suit to the gains on Wall St where sentiment was underpinned and the S&P 500 extended on record highs owing to China’s policy support and strong US data, while Chinese stimulus remained the main driving force overnight.
• ASX 200 was rangebound with strength in mining, materials and resources was counterbalanced by losses in defensives, while consumer stocks were also pressured with Star Entertainment shares down by more than 40% after its recent substantial FY loss.
• Nikkei 225 rallied at the open and climbed above the 39,000 level owing to a weaker currency. The index then pared the majority of its early gains as the JPY nursed some of its losses and with participants awaiting the LDP leadership vote, but then caught a second wind in late trade as dovish LPD candidate Takaichi is said to face Ishiba in Japan’s LDP runoff.
• Hang Seng and Shanghai Comp rallied again owing to China’s stimulus drive with China to issue USD 284bln of sovereign debt as part of fresh fiscal stimulus, while the securities regulator also issued guidance to promote long-term capital entering the market. Furthermore, the PBoC announced its 50bps RRR cut took effect today and set the 7-day reverse repo rate at 1.50% vs prev. 1.70%, as previously guided earlier this week.
• US equity futures were uninspired amid a lack of fresh pertinent drivers and as markets braced for the looming PCE data.
• European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.3% after the cash market closed higher by 2.4% on Thursday.

FX

• DXY attempted to claw back some lost ground after suffering yesterday against its major peers despite recent encouraging data releases from the US. Furthermore, the recent slew of scheduled Fed speakers proved to be a damp squib as many refrained from commenting on monetary policy or the economy, while the focus for the dollar now shifts to the Fed’s preferred inflation metric.
• EUR/USD marginally eased back overnight but retains a firm footing at the 1.1100 territory.
• GBP/USD partially faded some of yesterday’s advances and trickled beneath the 1.3400 level.
• USD/JPY continued its upward momentum but then hit resistance around 145.50 which it later revisited and breached. Further upside in the pair was seen after dovish LPD candidate Takaichi is said to face Ishiba in Japan’s LDP runoff.
• Antipodeans softened overnight after the prior day’s rally with headwinds from a weaker CNH post-China rate cuts.
• Mexican Central Bank cut its interest rate by 25bps to 10.50% vs. Exp. 10.50% (Prev. 10.75%) through a 4-1 vote in favour of the 25bps cut (prev. 3-2), while it stated that looking ahead, the Board expects the inflationary environment will allow further reference rate adjustments (prev. said may allow).

FIXED INCOME

• 10yr UST futures traded lacklustre after slipping yesterday owing to firm US data releases.
• Bund futures were uneventful as trade calmed down following the recent whipsawing.
• 10yr JGB futures kept afloat but lacked conviction after Tokyo CPI data matched estimates and ahead of the LDP leadership election result, but rose in late trade as dovish LPD candidate Takaichi is said to face Ishiba in Japan’s LDP runoff.

COMMODITIES

• Crude futures remained constrained after this week’s selling despite the positive risk tone and Israel’s rejection of a ceasefire proposal.
• BSEE reported that 25% (prev. 29%) of oil production and 20% (prev. 17%) of natgas production in the Gulf of Mexico is shut (prev. 17%) in response to Hurricane Helene.
• Spot gold was rangebound after the recent roster of Fed speakers proved to be anticlimactic, while the focus turns to PCE data.
• Copper futures were little changed and took a breather after the recent stimulus-spurred advances.

CRYPTO

• Bitcoin traded indecisively and briefly dipped beneath the USD 65,000 level before staging a mild recovery.

NOTABLE ASIA-PAC HEADLINES

• Japan Economic Security Minister Takaichi gets 181 votes in ruling party leadership race and will face off Ishiba in Japan LDP runoff. Ex-Defence Minister Ishiba gets 154 votes in LDP leadership race, both short of a majority, according to Reuters. Run-off results expected around 07:00BST. Note: Takaichi is an advocate for BoJ easing, and she had previously noted that the BoJ hiked rates too soon.
• PBoC announced its 50bps RRR cut took effect from today and said the weighted average RRR for financial institutions was now at 6.6% after the new cut, while it set the 7-day reverse repo rate at 1.50% vs prev. 1.70%, as previously guided earlier this week and injected CNY 278bln via 14-day reverse repos with the rate lowered to 1.65% from 1.85%.

DATA RECAP

• Chinese Industrial Profit YTD YY (Aug) 0.5% (Prev. 3.6%)
• Chinese Industrial Profits YY (Aug) -17.8% Y/Y (prev. 4.1%)
• Tokyo CPI YY (Sep) 2.2% vs. Exp. 2.2% (Prev. 2.6%)
• Tokyo CPI Ex. Fresh Food YY (Sep) 2.0% vs. Exp. 2.0% (Prev. 2.4%)
• Tokyo CPI Ex. Fresh Food & Energy YY (Sep) 1.6% vs. Exp. 1.6% (Prev. 1.6%)

GEOPOLITICS

MIDDLE EAST

• Israeli PM Netanyahu said he had a meeting on Thursday to discuss the US ceasefire initiative and that they will continue these discussions in the coming days, according to Reuters.
• Lebanese Parliament Speaker Nabih Berri told L’Orient Le Jour newspaper that Israeli PM Netanyahu lies to everyone and retracted his approval of the initiative, while Berri said that they adhere to the revival of the demand for a ceasefire in Gaza as in Lebanon.
• US and Israeli officials held talks on Lebanon in New York on Thursday and discussions continued for a 21-day ceasefire, according to the White House. It was later reported that Secretary of State Blinken and Israeli Minister of Strategic Affairs Dermer emphasised the need for a ceasefire and Blinken underscored that further escalation of the conflict will only make that objective more difficult.
• French President Macron said the US has to increase pressure on Israeli PM Netanyahu to agree to the 21-day ceasefire, while he added Israel cannot invade Lebanon today and it would be a huge mistake, according to an interview with CBC
• Former US President Trump responded that he would do that when asked if he would make a deal with Iran if he is elected, while he also commented that the war in the Middle East has to end.
• Israeli Walla website stated the Israeli army attacked 1,600 targets in Lebanon during the past day, according to Al Jazeera.
• Israeli Air Force Chief said they will stop any arms transfer by Iran to Hezbollah and are preparing to assist troops in ground operations against Hezbollah.
• Israeli army said missiles were fired from Yemen and the interceptor was launched, while it added that the ‘Arrow’ aerial defence system made a successful interception.

OTHER

• US President Biden said he will strengthen Ukraine’s position in future negotiations by expediting funding during his term and will deal with Ukraine’s future defence needs.
• US VP Harris said her support for Ukraine is unwavering and must stand for international order and norms, while she added if they allow aggressors to take land with impunity, Russian President Putin could set his sights on Poland, the Baltic states and NATO allies.
• Former US President Trump said he will meet with Ukrainian President Zelensky on Friday and that he has some disagreements with Zelensky, while he responded “We’ll see what happens” when asked if Ukraine should hand over some land to Russia to end the war.

EU/UK

NOTABLE HEADLINES

• UK Chancellor Reeves is prepared to water down the planned Budget tax raid on ‘non-doms’ amid fears it may fail to raise any money, according to people familiar with the matter cited by FT.

2 JAPAN

JAPAN/

END

3 CHINA

This is interesting…

China Covered Up Sinking Of Newest Cutting Edge Nuclear-Powered Submarine

THURSDAY, SEP 26, 2024 – 06:00 PM

A senior US defense official has said in a Wall Street Journal bombshell report that China’s newest highly touted and cutting edge nuclear-powered submarine has sank at a shipyard near Wuhan. It was to be the newest sub to join China’s fleet of six nuclear-powered attack subs.

The sinking, which reportedly occurred in either May or early summer, constitutes a serious setback for the People’s Liberation Army which has rapidly sought to expand its naval power and technology. President Xi has for years been overseeing a modernization of the PLA Navy.

The US official has further said China is seeking to cover up the incident. “It’s not surprising that the PLA Navy would try to conceal the fact that their new first-in-class nuclear-powered attack submarine sank pierside,” the senior US defense official, who remains anonymous, told the WSJ.

“In addition to the obvious questions about training standards and equipment quality, the incident raises deeper questions about the PLA’s internal accountability and oversight of China’s defense industry — which has long been plagued by corruption,” the official said.

Satellite photos by Planet Labs appear to confirm that the submarine sank. The WSJ report details further, “The Zhou-class vessel that sank is the first of a new class of Chinese nuclear-powered subs and features a distinctive X-shaped stern, which is designed to make the vessel more maneuverable.”

“The sub was built by China State Shipbuilding Corp., a state-owned company, and was observed alongside a pier on the Yangtze River in late May when it was undergoing its final equipping before going to sea,” the report continues.

-Pentagon confirms #China lost its Zhou-class nuclear submarine alongside in May this year
-I reported this in Jul
-In Aug 2023 also China lost a submarine when #XiJinping unexpectedly skipped a BRICS meeting
-Such poor standards set #Chinese navy many years back#IndianNavy pic.twitter.com/nhh7rQExEU

— Insightful Geopolitics (@InsightGL) September 26, 2024

Large floating cranes have been observed engaged in a salvaging mission at the site. Something else of concern is whether or not it was carrying nuclear fuel at the time of the sinking, with analysts cited in the WSJ saying that yes it was ‘likely’.

Neither the Chinese government nor the PLA military have commented on the loss of the sub, and are unlikely to.

Regional tensions have soared given the US has recently inked a controversial defense deal to bolster Australia’s naval defense amidst Western nations’ mounting anxiety over China’s military expansion.

The agreement centers on the US selling Australia three U.S. Virginia class nuclear-powered submarines, projected to be delivered in 2030s, and two more at a later point if needed.

You will find more infographics at Statista

Beijing has sharply criticized the move, saying it was encouraging an arms race. Increasingly Russia and China have patrolled Pacific regional waters together in order to flex their collective muscle against the US and its allies. 

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

END

GERMANY

Immigration has failed Germany miserably

(Remix)

“Immigration Does Not Work, Not Even Economically” – German Govt Needs €10BN More In Welfare Payments Than Initial Forecasts

FRIDAY, SEP 27, 2024 – 02:00 AM

Via Remix News,

The German federal government has “miscalculated” billions in welfare payments, known as citizens’ money, with their initial estimate of €36 billion far short of the €46 billion reportedly needed.

In documents obtained by Bild newspaper, the German labor ministry assumes an average of 2.9 million people are in need of welfare payments in the documents for the “2025 budget,” dated from August 2024. However, this document indicates that the expenditure on standard rates and accommodation costs is expected to total €45.6 billion, which is a far cry from the €36 billion set in the 2025 citizen’s allowance budget.

The huge discrepancy has sparked outrage, but Hubertus Heil’s (SPD) labor ministry told Bild that the figures published “are not comprehensible and are methodologically based on several false assumptions… For example, a significant portion of the costs of accommodation are to be covered by the municipalities and are therefore not relevant to the federal budget in the amount stated.”

However, Heil’s denial did not specify how far off Bild’s figures were, and notably, Bild was citing internal documents from the ministry itself.

The huge sums paid out due to citizens’ money has become a politically explosive subject, first due to the enormous costs it is placing on the German taxpayers, second due to the fact that the German economy is facing a worker shortage, and third due to the huge number of foreigners taking advantage of this welfare system, as half of all recipients are foreigners and many of the others who are German citizens also have a migration background.

“Immigration doesn’t work, not even economically. And if one were to differentiate between Germans based on their migration background, the picture would be even more devastating,” MEP Maximilian Krah, who is a member of the AfD but remains unaffiliated in the European Parliament, wrote on X. He shared a graph showing how few Germans are actually receiving welfare payments.

X.com/KrahMax/status/1838796148011630698

However, he is not the only one calling into question Heil’s numbers. Most recently, the Federal Audit Office also cast doubt on Heil’s budget, stating that the labor ministry’s figures could only happen as budgeted if “600,000 people entitled to benefits would stop receiving them altogether” in 2025. These experts complained at the time that this was “not very realistic.”

Other parties are also attacking Heil. CDU’s group vice-chairman Jens Spahn said the matter “bordered on deliberate deception.”

Meanwhile, budget spokesman for the CDU/CSU parliamentary group, Christian Haase, said: “Heil is deliberately budgeting for false figures in order to conceal the problems with the citizens’ allowance,”

“This is a scandal,” he added.

CDU general secretary Carsten Linnemann said the ruling left-liberal government “continues to lie to itself, the budget will blow up in its face.”

Even the Free Democrats (FDP), who belong to the ruling government, slammed the budget figures. FDP politician Torsten Herbst said he expected “the labor minister to present realistic figures in his draft budget.”

However, some of the harshest statements came from the AfD, which wrote on social media: “Labor Minister Hubertus Heil (SPD) suddenly presents a new budget gap of almost €10 billion in the citizen’s allowance. According to the minister’s documents, his department expects citizen’s allowance costs of almost €46 billion for 2025, although only €36 billion were officially reported.”

The party is now recommending mass deportations totaling 1.3 million people to plug the budget hole, which it claims would bring the welfare payments back in line with the original sum budgeted.

“It must be remembered that around half of the citizen’s allowance recipients are foreign citizens! Simply by deporting the approximately one million Syrians (as of the end of 2023) who no longer have a reason to flee, the citizen’s allowance costs could be reduced enormously. The same applies to the approximately 300,000 foreigners who are required to leave the country (as of mid-2024).

“The Federal Audit Office had already cast doubt on the Minister of Labor’s sugar-coated figures weeks ago, stating that the figures would only be correct if the number of citizens’ allowance recipients fell by around 600,000 in 2025. Either Heil really miscalculated in an amateurish way or – which is much more likely – he deliberately wants to mislead the population. In both cases, such a Minister of Labor is completely unacceptable and underlines that the SPD does not care about our country.”

Read more here…

end

ENGLAND

This is what is going on in England now:

Paul Watson

Hackers Target UK Rail Network Wi-Fi To Warn Of “Islamisation Of Europe”

FRIDAY, SEP 27, 2024 – 03:30 AM

Authored by Paul Joseph Watson via Mopdernity.news,

Hackers in the UK targeted 19 major railway stations to display a message to anyone accessing wi-fi which warned about terror attacks and “the Islamisation of Europe.”

Network Rail confirmed that the cyber attack had impacted stations including London Euston, Manchester Piccadilly, Liverpool Lime Street, Birmingham New Street, Edinburgh Waverley and Glasgow Central.

Anyone attempting to login to use the wi-fi network was met by a message which began, “We love you Europe.”

“The Islamisation of Europe is already happening, and it’s getting worse each day,” the message continued.

“Below is just a SMALL taste of what’s coming,” said the message, before describing what happened during the Manchester Arena bombing.

The terror attack, which occurred during an Ariana Grande concert in May 2017, killed 22 people and injured over a thousand, many of them children.

The jihadist responsible for the attack, Salman Abedi, had been rescued from Libya as a refugee by the British Royal Navy.

Abedi was spotted by security guards acting suspiciously on a number of occasions, but they didn’t report the activity over fears they would be called “racist”.

The hackers’ message also included photographs of some of the victims of the attack.

A spokesperson for Telent, the third party which provides the wi-fi for Network Rail, confirmed it was investigating a “security incident”.

“We have been informed there is an ongoing investigation by the British Transport Police into this incident, so it would not be appropriate to comment further at this stage,” said the company in a statement.

*  *  *

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/HEZBOLLAH/NASRALLAH

IDF strike targets Hezbollah chief Sayyed Hassan Nasrallah in Beirut

The IDF strike hit Hezbollah’s central headquarters in Dahiyeh, Beirut, built under residential buildings.

By DARCIE GRUNBLATT, MAYA GUR ARIEHSEPTEMBER 27, 2024 18:25Updated: SEPTEMBER 27, 2024 20:42

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-822095&unitId=2900003088&userId=41115bd4-eb53-49be-bd12-00a13a7686b3&isLegacyBrowser=false&isPartitioningSupport=1&version=20240926_f5bccd16441365e3cf7e3f6a180be1a8ad7a0c63&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF targeted Hezbollah chief Sayyed Hassan Nasrallah in a strike on the terror organization’s central headquarters in Beirut Friday evening, the IDF reported.

דיווחים בלבנון על תקיפה ישראלית בביירות; בעוד זמן קצר – הצהרת דובר צה"ל @Doron_Kadosh @barakbet pic.twitter.com/1Pl05By1S9

— גלצ (@GLZRadio) September 27, 2024

The IDF has not confirmed whether Nasrallah was hit, Axios reported, citing an Israeli source. Israel is attempting to identify if Nasrallah was at the central headquarters at the time of the attack, if he is alive, and what his current condition is. 

However, Reuters reported that Nasrallah is alive, citing a source close to Hezbollah. Iran’s IRGC-controlled Tasnim News Agency has also reported he is alive, and an additional Hezbollah operative has also stated Nasrallah survived the attack.

“Hezbollah’s central headquarters was intentionally built under residential buildings in the heart of the Dahiyeh in Beirut as part of Hezbollah’s strategy of using Lebanese people as human shields,” IDF Spokesman R.-Adm. Daniel Hagari stated in an evening address.

Hagari said that the targeted building was the epicenter of Hezbollah’s terror activities. 

Defense Minister Yoav Gallant, at the time of the strike, was at the Israel Air Force’s (IAF) command and control center, where he monitored the strike against Hezbollah’s headquarters, the Defense Ministry stated. 

Other senior officials, including IDF Chief of Staff Herzi Halevi and Commander of the IAF, were also present.

Prime Minister Benjamin Netanyahu cut his trip to New York short and plans to leave for Israel Friday night on Shabbat, following the IDF strike on Beirut that targeted Hezbollah leader Hassan Nasrallah.

Following a situation assessment after the strike, the IDF stressed that it is prepared in all offensive and defensive arenas. A senior security official told army radio that anyone in the Hezbollah headquarters will not get out alive, and they are closely following what is developing in Beirut.

---

---

The IDF added there is no change in the Home Front Command directives.

Israel informed the US of the strike shortly before, according to Israeli sources, and Prime Minister Benjamin Netanyahu authorized the strike from New York.

The Pentagon later said that the US did not have advanced warning of an Israeli strike in Beirut and US Defense Secretary Lloyd Austin spoke with his Israeli counterpart as the operation was ongoing, Reuters reported.

Multiple blasts were heard in Beirut, Lebanon, Reuters reported earlier, citing witnesses.

https://www.jpost.com/breaking-news/article-822095

The witnesses told Reuters they saw clouds of smoke rising from the city.

“After almost a year of Hezbollah firing rockets, missiles, and suicide drones at Israeli civilians, after almost a year of Israel warning the world and telling them that Hezbollah must be stopped, Israel is doing what every sovereign state in the world would do if they had a terror organization that seeks their destruction on their border, taking the necessary action to protect our people so that Israeli families can live in their homes, safely and securely,” Hagari said in his address.

https://player.jpost.com/public/player.html?player=jpost&media=3777397&url=www.jpost.comIDF Spokesperson R. Admiral Daniel Hagari announces the IDF struck Hezbollah’s central headquarters in Beirut. September 27, 2024. (Credit: IDF Spokesperson’s Unit)

Successive airstrikes

The IDF targeted Beirut shortly after Israeli Prime Minister Benjamin Netanyahu vowed to continue Israel’s attacks on Hezbollah.

The southern suburbs of Beirut were hit in successive airstrikes, Hezbollah affiliate Al Manar TV reported.

Many ambulances and civil defense vehicles arrived at the scenes of several buildings that had exploded.

Several Arab media sources have begun calling on their followers to pray for Nasrallah. 

The Israeli air force struck southern Beirut last week, targeting 16 Hezbollah commanders, including Radwan Force commander Ibrahim Aqil and Hezbollah drone until chief Muhammad Hossein Sarur. 

Southern Beirut is known as a Hezbollah stronghold.

This is a developing story.

END

Did Israel succeed in eliminating its number one enemy? – analysis

Hezbollah chief Hassan Nasrallah began his journey in the terror organization during his school years in the city of Tyre.

By AVI ASHKENAZISEPTEMBER 27, 2024 19:54

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-822100&unitId=2900003088&userId=41115bd4-eb53-49be-bd12-00a13a7686b3&isLegacyBrowser=false&isPartitioningSupport=1&version=20240926_f5bccd16441365e3cf7e3f6a180be1a8ad7a0c63&useBunnyCDN=0&themeId=140&unitType=tts-player

The fate of Hassan Nasrallah, Israel’s top target in recent years, is still unclear. The fact that Israel struck Hezbollah’s central headquarters while Nasrallah was there is a dramatic development.

First and foremost, Israel is making it clear that Nasrallah is marked for death. Second, it demonstrates Israel’s intelligence capabilities and resolve. Third, Israel shows that it has no red lines in its battle against Hezbollah—every figure and every place where Hezbollah operates will be targeted decisively.

The strike was carried out by the Israeli air force’s 119th “Bat” Squadron, using an F-16i aircraft known as “Sufa” (Storm) in the IAF. The planes dropped tons of munitions. Israel conducted the bombing while Prime Minister Benjamin Netanyahu was in New York, on American soil.

Hassan Nasrallah, at 64, has been Hezbollah’s leader for four decades and is one of Israel’s most challenging adversaries in recent decades. He is closely aligned with Iran, and although he didn’t find Hezbollah, he has shaped the organization in his image.

Nasrallah began his journey in the organization during his school years in the city of Tyre. He frequented the main mosque, drawing the attention of preacher Muhammad al-Gharawi, who was impressed by Nasrallah’s intelligence and interest in theological studies.

Al-Gharawi recommended him to Ayatollah Muhammad Baqir al-Sadr, a leading figure in the Shiite seminaries in Najaf, Iraq. After completing high school about a year later, Nasrallah moved to Najaf to start his studies.

Formation of Hezbollah

There, he met al-Sadr, who placed him under the mentorship of Abbas al-Musawi, a Lebanese student from the Beqaa Valley who later became a Hezbollah leader. At just 16, Nasrallah formed a deep bond with al-Musawi, whose teachings significantly shaped his worldview.

Following al-Musawi’s assassination, Nasrallah was appointed as his successor.

At the time, Israeli officials underestimated the young leader’s potential to surpass his predecessors, turning Hezbollah into a far more powerful and dangerous organization than before.

END

ZERO HEDGE ON THE SAME STORY AS ABOVE;

Massive Israeli Airstrikes In Beirut Target Central Hezbollah HQ, Nasrallah

FRIDAY, SEP 27, 2024 – 12:07 PM

Just less than thirty minutes after Israeli Prime Minister Benjamin Netanyahu finished his remarks to the UN General Assembly, the Israeli military (IDF) announced major new airstrikes across southern Lebanon, which has included the most intense attacks to date on Beirut’s southern suburbs.

Eyewitness say that shortly before 7pm local time, massive explosions rocked Beirut, shaking windows and with blasts felt for miles. Fox News’ chief foreign correspondent is reporting that “Fox News has learned the target of the strike on Beirut was Hezbollah leader Hassan Nasrallah.” Hezbollah sources have been cited in Sky News as saying Nasrallah is in a safe place.

Breaking reports say that Israeli jets have targeted and struck Hezbollah’s main command headquarters.

Al Monitor regional correspondent Joyce Karam writes, “Israeli media and Arabiya reporting that target was Hezbollah leader Hassan Nasrallah but reportedly failed. Awaiting confirmations…lot of rumors.

An Israeli official has confirmed that Israel notified the US administration just minutes before the new largescale strikes on Beirut. Netanyahu had reportedly left a post-UN press conference early to attend an urgent security meeting.

Mass casualty event:

While attention fixates on the fate of #Hezbollah leader Hassan #Nasrallah, bear in mind that flattening 6+ high-rise apartment buildings, without prior notice/evacuation, means 100s of casualties.

This is a mass casualty event, whatever #Hezbollah losses. pic.twitter.com/s4Plc8Sfka

— Charles Lister (@Charles_Lister) September 27, 2024

Unconfirmed initial videos show a massive attack, with a black smoke cloud rising high into the early evening sky at dusk:

While attention fixates on the fate of #Hezbollah leader Hassan #Nasrallah, bear in mind that flattening 6+ high-rise apartment buildings, without prior notice/evacuation, means 100s of casualties.

This is a mass casualty event, whatever #Hezbollah losses. pic.twitter.com/s4Plc8Sfka

— Charles Lister (@Charles_Lister) September 27, 2024

It is highly unlikely that Nasrallah was at the location, as his whereabouts have long been the most tightly guarded secret of Hezbollah. The death toll is as yet unknown, but casualties are likely to be significant:

The attack in Beirut’s Haret Hreik suburb has erased a complete block, around six to nine buildings were either completely or partially destroyed. We are talking about a residential block close to the International airport of Beirut.

For now, we don’t know how many people were killed. But when an attack with such huge explosives, huge rockets is launched towards a residential area, we will expect to see a large number of people killed.

Oil is spiking on the news, given this represents peak escalation after a week of increasingly heavier fighting…

The airstrikes appear to be the most devastating and extensive to date on Beirut. According to initial details via Axios:

• Hezbollah-affiliated al-Manar Television reported that four buildings in southern Beirut were struck.
• Israel Defense Forces spokesperson Adm. Daniel Hagari described the attack as a “precise strike on the central HQ of Hezbollah which was intentionally built under residential buildings in Beirut in order to use them as human shields.”
• Israeli Prime Minister Benjamin Netanyahu abruptly left a press briefing at the UN after receiving an update from his military adviser.

📌الآن ! pic.twitter.com/tgnHMRhQhd

— Mounir Younés/ منير يونس (@Mouniryouniss) September 27, 2024

Images from the scene show a very large attack:

📌الآن ! pic.twitter.com/tgnHMRhQhd

— Mounir Younés/ منير يونس (@Mouniryouniss) September 27, 2024

LIVE FEED from Beirut:

developing…

END

Nasrallah assassination attempt: Risks, consequences, and new opportunities for the Middle East

The intent behind Friday’s strike on Hezbollah’s central headquarters—aimed at hitting Nasrallah—represents a regional shakeup.

By AMIR BOHBOTSEPTEMBER 27, 2024 20:07Updated: SEPTEMBER 27, 2024 20:09

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-822101&unitId=2900003088&userId=41115bd4-eb53-49be-bd12-00a13a7686b3&isLegacyBrowser=false&isPartitioningSupport=1&version=20240926_f5bccd16441365e3cf7e3f6a180be1a8ad7a0c63&useBunnyCDN=0&themeId=140&unitType=tts-player

The strike on the bunker of Hezbollah Secretary-General Hassan Nasrallah is nothing short of a seismic event in the Middle East. With Israel having shifted the rules of the game, what comes next? The risk of a broader conflict has risen, but there are also opportunities for a comprehensive settlement—everything now hinges on Hezbollah’s response.

The intent behind Friday’s strike on Hezbollah’s central headquarters—aimed at hitting Nasrallah—represents a regional shakeup, increasing the likelihood of a wider escalation while also creating chances for a comprehensive agreement.

A shift in the rules of engagement

First and foremost, the move signals a “change in the rules of engagement” in the fight against the so-called axis of evil. The assassination attempt, whose success remains unconfirmed, sends a clear message of Israeli resolve and boldness to the entire region, particularly Iran.

This is undoubtedly a regionally destabilizing event. If the operation succeeds, it opens significant opportunities in the battle against terrorism in the north with Hezbollah and in the south with Hamas, as well as a chance to pursue regional agreements.

What happens next?

The IDF must now brace for various scenarios and their implications, both in terms of defending Israel and continuing its offensive operations.

The most extreme scenario involves Iran unleashing Hezbollah and the Houthis, allowing them to launch an extensive missile and drone attack on Israel’s home front. In an even more severe scenario, Iran itself could join the conflict directly with strikes from its territory, although this possibility is considered low.

A second, more plausible scenario involves targeted retaliation by members of the Axis of Evil and other terrorist groups, which could lead to attacks from multiple fronts, as well as spontaneous incidents in Judea and Samaria.

The central question is whether, regardless of the strike’s outcome, Hezbollah’s leadership will stick to its hardline stance against Israel, continuing to tie the organization’s fate to the ongoing conflict in Gaza, or whether it will reconsider its strategy.

In response, the IDF has raised its alert level to the highest across land, sea, and air defenses and is prepared for attacks should the situation deteriorate. Additionally, the IDF has reinforced the Northern Command with two infantry brigades to prepare for potential reinforcements in Judea and Samaria and, if necessary, ground maneuvers in Lebanon.

END

UPDATE

Tehran Checking Nasrallah’s Status After Massive Israeli Strike Targeting Hezbollah HQ

Friday, Sep 27, 2024 – 03:00 PM

Update(1420): The last hour has seen a flurry of contradictory reports concerning who may have been killed in the largescale Israeli airstrikes on the southern suburbs of Beirut Friday evening.

Some Israeli reports are claiming Secretary-General Hassan Nasrallah was killed or at least injured. Other reports claim his top deputy was taken out. At least six buildings were leveled in the attack.

A senior Iranian security officials has told Reuters that Tehran is checking Nasrallah’s status. Iran’s embassy in Beirut has meanwhile said that the major attack is a ‘crime’ that deserves ‘appropriate punishment’. Hezbollah has been slow to issue a statement, and it is unclear whether the group plans to.

ISRAEL/HEZBOLLAH//USA

Blinken is one total moron!

Blinken warns ‘further escalation’ will make it harder for northerners to return home

2hr ago

Blinken warns ‘further escalation’ will make it tougher for northerners to return home

By JACOB MAGID

US Secretary of State Antony Blinken speaks at a meeting in New York on September 26, 2024.(Bryan R. Smith/Pool Photo via AP)

NEW YORK — During his meeting with Strategic Affairs Minister Ron Dermer earlier today on the sidelines of the UN General Assembly, US Secretary of State Antony Blinken reiterated the Biden administration’s belief that an Israeli escalation against Hezbollah will only make it more difficult to accomplish the objective of returning evacuated Israelis to their homes along the northern border.

The meeting comes against the backdrop of fury in the Biden administration over what it says was Prime Minister Benjamin Netanyahu’s utter about-face regarding the 21-day ceasefire initiative between Israel and Hezbollah that the US helped broker. The White House says it announced the proposal yesterday after closely consulting with Netanyahu, who assured Biden officials that he was on board. Following major blowback from his coalition partners, the premier announced that he opposed the idea and instead backed intensified fighting against Hezbollah, convinced that this would be the best way to restore security for residents living along the northern border.

The premier’s office has flatly denied that Netanyahu had initially agreed to the 21-day ceasefire proposal, but it has softened its rhetoric amid US backlash, saying it appreciates Washington’s efforts and that Dermer held talks later today aimed at advancing the joint goal of returning Israeli evacuees to their homes.

During his subsequent one-one-one meeting with Blinken, the secretary of state “discussed the importance of reaching an agreement on the 21-day ceasefire across the Israel-Lebanon border” based on the proposal led by the US and France, which has been backed by over a dozen countries, the US readout says.

The initiative is aimed at providing time for both a hostage release and ceasefire deal to come together in Gaza and for the brokering of an agreement between Israel and Hezbollah that sees the terror group withdraw its forces away from the border.

“A diplomatic settlement will allow civilians on both sides of the border to return to their homes… further escalation of the conflict will only make that objective more difficult,” Blinken told Blinken, according to the US readout.

Blinken also discussed the ongoing Gaza ceasefire effort, which has been stuck for over a month.

He further discussed steps Israel needs to take to improve the delivery of humanitarian assistance to Gaza, while reiterating the US commitment to Israel’s security, the State Department says.

END

ISRAEL/HEZBOLLAH/LEBANON

Lebanon too weak to rein in Hezbollah. They want a ceasefire but Hezbollah will not move from the front line of Israel and will still throw bombs at Israeli settlements in the north of Israel.

Lebanese FM: Crisis in Lebanon ‘threatens entire Mideast,’ we back ‘ceasefire on all fronts’

Lebanese Foreign Minister Abdallah Bouhabib addresses the 79th session of the UN General Assembly, September 26, 2024. (AP Photo/Pamela Smith)

Lebanon’s foreign minister calls for an immediate ceasefire “on all fronts,” warning that continued violence at his nation’s border will “transform into a black hole that will engulf international and regional peace and security.”

Abdallah Bouhabib, speaking before the UN General Assembly, decries Israel’s “systematic destruction of Lebanese border villages.”

“The crisis in Lebanon threatens the entire Middle East,” Bouhabib says. “We wish today to reiterate our call for a ceasefire on all fronts.”

He says Lebanon welcomes efforts by the United States and France to move urgently toward a ceasefire between Israel and Hezbollah “before the situation spirals out of control, with a domino effect, making this crisis impossible to contain.”

END

ISRAEL/USA/HEZBOLLAH

We have seen this before: Biden and his cohorts stating peace is at hand only to be rebuffed time and time again.

(JerusalemPost)

US, frustrated, says ceasefire plan rejected by Netanyahu had been coordinated with him

PM had been expected to relate to initiative in UN speech Friday. But after outcry back home, his office says he never backed it and he vows to keep hitting Hezbollah ‘full force’

By JACOB MAGID, FOLLOW
LAZAR BERMAN, FOLLOW
TOI STAFF and EMANUEL FABIAN FOLLOW
26 September 2024, 11:21 pmUpdated at 2:22 am

Prime Minister Benjamin Netanyahu addresses the press from the tarmac after landing in New York, September 26, 2024. (Lazar Berman/Times of Israel)

White House officials said Thursday they had coordinated a ceasefire plan that the US and France presented a day earlier with Prime Minister Benjamin Netanyahu and believed Israel was fully on board with it. And they indicated surprise and disappointment that Israel had rejected it and that the Prime Minister’s Office was now saying Netanyahu had never indicated he would back it.

A French official also made clear to The Times of Israel that the ceasefire initiative had been coordinated with Israel.

The plan for a 21-day ceasefire, intended to pave the way for a permanent cessation of hostilities between Israel and Hezbollah, and help advance an end to the war in Gaza, was jointly announced by US President Joe Biden and French President Emanuel Macron while Netanyahu was en route to New York, where he will address the UN General Assembly on Friday.

While still in the air, however, Netanyahu’s office issued a firm denial that he had assented to the idea, calling it an “American-French proposal that the prime minister didn’t even respond to.”

Describing reports that Netanyahu also gave instructions to reduce the scale of airstrikes in Lebanon as “the opposite of the truth,” the Prime Minister’s Office also said that he, in fact, “instructed the IDF to continue fighting at full force, according to the plans that were presented to him.”

Upon landing, Netanyahu told reporters “Israel’s policy is clear: We are continuing to strike Hezbollah with full force. And we will not stop until we achieve all our goals, chief among them the return of the residents of the north securely to their homes.”

Foreign Minister Israel Katz was unequivocal, posting on X that “there will be no ceasefire in the north.”

In a briefing with reporters hours after Netanyahu made his comments, White House National Security Council spokesperson John Kirby said the US “had every reason to believe that in the drafting of [the statement] and in the delivery of it, that the Israelis were fully informed and fully aware of every word in it. We wouldn’t have done it if we didn’t believe that it would be received with the seriousness with which it was composed.”

White House National Security Communications Adviser John Kirby (R) and White House Press Secretary Karine Jean-Pierre talk to reporters in the Brady Press Briefing Room at the White House on September 18, 2024 in Washington, DC. (Chip Somodevilla / Getty Images via AFP)

Asked if it was fair to say the US wouldn’t have published the statement had it not believed that Israel was on board with the plan, Kirby responded in the affirmative. “We’ve seen Prime Minister Netanyahu’s comments. We still believe an all-out war is not the best way to get people back in their homes. If that’s the goal, we don’t believe an all-out war is the right way to do that,” Kirby added.

“I can’t speak for Prime Minister Netanyahu,” Kirby said. “I can’t answer why he said what he said… whether [the considerations] were political or operational or otherwise. Those are questions that he needs to be asked.”

White House Press Secretary Karine Jean-Pierre also insisted Thursday that the call for a ceasefire had been “coordinated” with Israel, despite the rejection. She added that talks were continuing at the UN General Assembly in New York.

A senior Western diplomat who spoke to The Times of Israel said that both Israel and Lebanon privately gave mediators their support for the arrangement before it was announced. Indeed, the diplomat said that Netanyahu and his aides were closely involved in crafting and approving the joint US-French statement.

Netanyahu’s backtracking on the ceasefire process, which was aimed at covering both Lebanon and Gaza, “shatters what remains of relations with the Biden administration,” an unnamed source familiar with the details of the process told Israel’s Channel 12 news on Thursday evening.

The TV report specified that Strategic Affairs Minister Ron Dermer had reached agreements in principle with the US on the approach, with Netanyahu’s approval, before the prime minister backtracked.

After the TV report aired, an Israeli official reiterated, “As we said, Israel was updated about the American proposal but never agreed to it.”

Nonetheless, the White House still believes that it is possible to reach a diplomatic solution between Israel and Hezbollah, and has continued talks with Israeli counterparts even after Netanyahu’s remarks upon landing in New York.

A French official told The Times of Israel on Thursday that “there were conversations at a very high level between the US, France, and Israel, and from those conversations, we understood there was a basis to go ahead with the joint announcement.”

“We understand that Netanyahu has to deal with the domestic political reaction as well, but for us, the possibility for a ceasefire to allow negotiations remains alive,” said the French official.

Several days of discussions

The process began earlier this week with US National Security Adviser Jake Sullivan reaching out to Dermer, and saying that steps must be taken to prevent the Israel-Hezbollah escalation spilling out of hand, Channel 12 reported. Dermer reportedly responded that Netanyahu wanted to avoid all-out war.

Discussions then got underway on a temporary ceasefire during which a more permanent arrangement could be negotiated. This intended arrangement would be based on ongoing efforts by US envoy Amos Hochstein and on UN Resolution 1701, which ended the 2006 Lebanon war, and also on the Gaza hostage-ceasefire proposal unveiled by Biden at the end of May, the TV report said.

This broad framework was intended to enable Israel to say it had separated the northern front crisis from Gaza, while Hezbollah could argue that it was ceasing its attacks because the Gaza war would be coming to an end.

The Iron Dome fires interception missiles at rockets fired from Lebanon, seen over Safed, September 26, 2024. (David Cohen/Flash90)

According to what Channel 12 called “an emerging understanding,” Netanyahu was to have related to the intended arrangement during his speech to the General Assembly. He was expected to declare that Hamas had been defeated militarily in Gaza and announce the transition to the next phase of that war.

The US-Israel discussions reportedly continued in unspecified “wider forums” ahead of Netanyahu’s departure for New York early Thursday morning, including with the participation of Maj. Gen. Eliezer Toledano, the head of the IDF’s Strategy Directorate and a former military secretary to Netanyahu. It was recognized that even if the intended arrangement did not come to fruition, the effort to reach it would provide greater legitimacy for the US to stand firmly behind Israel if regional war were to break out, Channel 12 reported.

While this diplomatic process, overseen by Netanyahu and Dermer, continued, the IDF carried on with its strikes on Hezbollah. Netanyahu updated a small number of ministers about the developments. When word of the potential ceasefire began to emerge from the Biden administration in Washington on Wednesday, it was with Netanyahu’s knowledge and approval, the TV report said.

French President Emmanuel Macron (R) meets with US President Joe Biden during the 79th Session of the United Nations General Assembly at the United Nations headquarters in New York City on September 25, 2024. (Ludovic MARIN / AFP)

The understanding was that Netanyahu would relate publicly to the intended arrangement when he landed in New York on Thursday and it would be possible to take the effort forward, the report said. Netanyahu was set to say that while Israel continues to battle Hezbollah, it welcomes any ceasefire initiative that would safely enable the return of northern Israeli residents to their homes. There were even draft texts of what Netanyahu would say, according to the report.

But then came the wave of political criticism of the nascent ceasefire in Israel, and “everything turned upside down,” the report said, leading Netanyahu to distance himself from truce proposals and issue denials from his plane. Opposition to the idea of a ceasefire erupted in Israel on Thursday morning, including from local council heads in the Hezbollah-battered north. National Security Minister Itamar Ben Gvir threatened to withdraw his far-right Otzma Yehudit party from Netanyahu’s government if he agreed to halt the fighting.

Channel 12 quoted a source familiar with the details as saying, “Obviously, the president of the United States would not lead a process like this without the agreement of Prime Minister Netanyahu. This backtracking completely shatters what remains of relations with the Biden administration.”

People and rescuers gather at the site of an Israeli airstrike that targeted an apartment on al-Qaem Street in Beirut’s southern suburbs on September 26, 2024. (Ibrahim Amro/AFP)

Calming his political base

The Western diplomat who spoke with The Times of Israel said Netanyahu’s conduct over the Lebanon ceasefire was an extension of how he has handled the Gaza hostage talks, in which he has privately agreed to show flexibility only to make public statements immediately afterward aimed at calming his political base but that risk thwarting progress in negotiations.

Reporters traveling with Netanyahu were told that no such arrangement was discussed by the security cabinet. While this is accurate, Channel 12’s report said, the issue was discussed in an ad hoc forum Netanyahu assembled in recent days, attended by several key ministers although not by Defense Minister Yoav Galant. He told them about the discussions and the US-French ceasefire efforts. Several ministers made plain their opposition to a ceasefire, and Netanyahu assured them the plan was also an effort to bolster Israel’s legitimacy.

Channel 12 also reported that Netanyahu, having hardened his position in the wake of the political criticism at home, told reporters on his plane, when asked whether Israel would seek to kill Hezbollah chief Hassan Nasrallah, “If Hezbollah does not get the message we have conveyed in the past week, including the elimination of senior figures, it’ll understand in a different way.”

.com/USAmbIsrael/status/1839307032194687054

US envoy warns of regional escalation

Meanwhile, US Ambassador to Israel Jack Lew reiterated Thursday evening the Biden administration’s call for a 21-day ceasefire, while stressing that Hezbollah was the party that instigated the ongoing conflict along the border.

“Since Hezbollah began its rocket attacks on Israel on October 8, round after round of strikes and counter strikes have driven people from their homes,” Lew wrote on X.

“The unacceptable risk of broader regional escalation demands immediate action,” he continued, arguing that the ceasefire backed by over a dozen countries “is the best way for diplomacy to restore safety for citizens to return to their homes.”

“Conditions in the north of Israel and the south of Lebanon must change to permit their safe return. At the same time, we press forward every day for an agreement to release the hostages and achieve a ceasefire in Gaza,” Lew added.

Amid the talk of a ceasefire, some 25 rockets were launched from Lebanon at the Lower Galilee in the evening, setting off sirens in several towns and injuring one person.

According to the military, the rockets all struck open areas.

Paramedics treated a 45-year-old man who was moderately wounded by shrapnel in the attack, the Magen David Adom ambulance service said in a statement.

An Israeli Air Force drone struck the launcher used in the attack a short while later, the IDF said.

Troops of the 7th Armored Brigade carry out a drill in northern Israel, in a handout photo published September 26, 2024. (Israel Defense Forces)

Overall Thursday, Hezbollah launched more than 175 rockets at northern Israel, while the Israeli military said fighter jets struck some 220 Hezbollah targets in Lebanon throughout the day. A military statement said the strikes in southern Lebanon and the Beqaa Valley targeted buildings used by Hezbollah, rocket launchers used in attacks on northern Israel, weapon depots, and operatives.

In preparation for a further escalation of the conflict, troops of the IDF’s 7th Armored Brigade wrapped up a drill simulating a ground offensive in Lebanon, the military said.

According to the IDF, the drill took place several kilometers from the Lebanon border, and simulated ground operations and combat in “complex and mountainous terrain.”

The drill was the latest in a series carried out by the IDF for a potential ground offensive in Lebanon.

Since October 8, Hezbollah-led forces have attacked Israeli communities and military posts along the border on a near-daily basis, with the group saying it is doing so to support Gaza amid the war that has raged there since Hamas’s October 7 invasion and slaughter in southern Israel. Tens of thousands of residents of northern Israel have been forced from their homes ever since by the relentless Hezbollah rocket fire.

Since Israel escalated its airstrikes on the Hezbollah terror group on Monday, more than 630 people have been killed in Lebanon, according to the country’s health ministry, which does not distinguish between civilians and combatants. Thousands of pagers detonated on their Hezbollah owners last week, putting a reported 1,500 fighters from the terror group out of commission, in an attack blamed on Israel.

Israel has said it has targeted homes in which Hezbollah emplaced missiles and rockets, having urged residents to flee. It says that many Hezbollah operatives are among the dead. Numerous senior Hezbollah commanders have been killed, as well as leaders of Hezbollah’s Radwan Force, which Israel says was planning an invasion of the Galilee.

Agencies contributed to this report.

END

ISRAEL/HEZBOLLAH

They are getting ready for a ground offensive

JerusalemPost

Israel Air Force chief: We’re preparing to assist troops in ground ops. against Hezbollah

The IAF will stop any arms transfers from Iran to Hezbollah and is ready to assist troops in any ground operations.

By JERUSALEM POST STAFFSEPTEMBER 26, 2024 20:28Updated: SEPTEMBER 27, 2024 00:37

https://www.jpost.com/breaking-news/article-821970

https://player.jpost.com/public/player.html?player=jpost&media=3777103&url=https://www.jpost.com/breaking-news/article-821970Commanding Officer of the Israeli Air Force, Maj. Gen. Tomer Bar says the IAF is ready to support a ground maneuver in Lebanon. September 26, 2024. (Credit: IDF Spokesperson’s Unit)

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Israel Air Force chief Tomer Bar said on Thursday in a video published by the IDF that the air force was preparing to assist troops in ground operations against Hezbollah.

The air force will stop any arms transfers from Iran to Hezbollah and is preparing to assist troops in any ground operations against the Lebanese group, Bar stated.

“Now, in Lebanon, we are going to prevent any possibility of weapon transfers from Iran in light of the capabilities we’ve now degraded from Hezbollah,” Bar said.

“[Hezbollah chief Sayyed Hassan] Nasrallah’s confidence … depends on the supply coming from Iran,” he added, noting that Hezbollah’s functionality and ability to recover from Israel’s strikes were also dependent on the ability to access Iranian resources.

“We are preparing, shoulder-to-shoulder, with Northern Command for a ground maneuver”

“We are preparing, shoulder-to-shoulder, with Northern Command for a ground maneuver. We are preparing. Whether it will be carried out is a decision that is above us,” he told the soldiers present.

“What we demonstrated in the Southern Command during the operations in Gaza, with the aerial support surrounding each combat team, down to the individual soldier going in, will be the starting point in the North,” Bar continued.

“The threats [in Lebanon] are greater,” he noted, emphasizing “the importance of this partnership in the combined maneuver, both ground and air.”

“We will continue to apply pressure as needed. The targets are both pre-planned targets and targets that emerge in real-time, using all the capabilities within the air force.”

“The pressure will increase as required, without limitations to specific areas or types,” adding that the IAF was  prepared to strike targets located “underground, above ground, in southern Lebanon, and Beirut.”

“Not only the North, Hezbollah has capabilities that reach the Center and even the South. This is our opportunity to degrade them, taking them out from the air and from the ground in an organized manner,” he further stated. 

end

Related Tags

ISRAEL/HEZBOLLAH/ANALYSIS

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ISRAEL/ HEZBOLLAH/

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ISRAEL HEZBOLLAH

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ISRAEL/HEZBOLLAH/

end

ISRAEL/HOUTHIS

IDF ‘Arrow’ aerial defense system intercepts Houthi missile

The missile was intercepted outside Israeli airspace, according to the IDF, causing loud booms and debris to fall.

By YUVAL BARNEASEPTEMBER 27, 2024 00:52Updated: SEPTEMBER 27, 2024 05:17

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-822001&unitId=2900003088&userId=41115bd4-eb53-49be-bd12-00a13a7686b3&isLegacyBrowser=false&isPartitioningSupport=1&version=20240926_f5bccd16441365e3cf7e3f6a180be1a8ad7a0c63&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF’s ‘Arrow’ system intercepted a missile sent from Yemen that triggered sirens across the center of Israel, the IDF confirmed on Friday.

צה"ל: האזעקות במרכז – עקב טיל ששוגר מתימן • תיעוד מקריית מלאכי >>
⁦@Doron_Kadosh⁩ ⁦@galdjerassi⁩ pic.twitter.com/5l6XkXtxiC

— גלצ (@GLZRadio) September 26, 2024

The missile was intercepted outside Israeli airspace, according to the IDF, causing loud booms and debris to fall.

The IDF has had to deploy the ‘Arrow aerial defense system’ to prevent Houthi attacks several times during the war, including the Houthi missile sent targeting Eilat in February and the missile sent targeting Tel Aviv on September 14, which entered Israel airspace much to the chagrin of the IDF.

Magen David Adom said that no injuries had been reported but that several people suffered anxiety attacks or were injured while seeking shelter.

Confirmed retaliation

The attack came after the IDF confirmed it had killed Hezbollah’s drone unit chief, Muhammad Hossein Sarur, in strikes on Beirut the previous day.

Sarur was reportedly operating as Hezbollah’s liaison to the Houthis, advising them on aerial strategies.

Nasruddin Amer, chairman of the Houthi-backed Yemeni state news agency Saba, confirmed on X/Twitter that the strike was in retaliation for the killing of Sarur in Lebanon, using his alias “Haj Abu Saleh.”

يافا المحتلة تحت النار يا حاج ابوصالح pic.twitter.com/a7oDQlOunu

— نصر الدين عامر | Nasruddin Amer (@Nasr_Amer1) September 26, 2024

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Israel’s recent campaign in Lebanon has seen astounding success, with several high echelons of Hezbollah’s intelligence and operational network being targeted and destroyed

END

ISRAEL//HAMAS

IDF kills significant October 7 terrorists in Gaza Strip operation

According to the IDF, it will continue to operate in the Rafah area after eliminating 15 terrorists over the last week. 

By JERUSALEM POST STAFFSEPTEMBER 26, 2024 17:21

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-821911&unitId=2900003088&userId=41115bd4-eb53-49be-bd12-00a13a7686b3&isLegacyBrowser=false&isPartitioningSupport=1&version=20240926_f5bccd16441365e3cf7e3f6a180be1a8ad7a0c63&useBunnyCDN=0&themeId=140&unitType=tts-player

Armed forces eliminated two terrorists who participated in the October 7 Hamas massacre during operations in the Gaza Strip last week, along with additional Hamas terrorists operating in a former school during a Thursday strike, the IDF announced on Thursday afternoon.

The first terrorist killed who participated in the October 7 attacks was Suleiman Juad Suleiman Abu Lafi after an Israel Air Force (IAF) aircraft struck him during operations in Gaza last week, the IDF said.

Abu Lafi’s role in the October 7 attacks was to facilitate the transfer of weapons to and from the Gaza Strip, bringing them into Israel. Additionally, Abu Lafi had also directed terror attacks in the West Bank area, the military noted.

The second terrorist killed by the IDF last week in another IAF strike was the team commander of Hamas’s “Nukhba” Company, who also took part in the October 7 attacks. 

The military says they will continue to operate in the Rafah area after eliminating 15 terrorists over the last week. 

Hamas terrorists located in a former school 

Additionally, during the IDF’s Thursday strike in the northern Gaza Strip, armed forces eliminated terrorists who were operating inside a command and control center that had previously served as the ‘al-Faluja’ School.

According to reports, the former school that became the command and control center was used by Hamas terrorists to plan and execute terrorist attacks against IDF troops and Isarel. 

Regarding the location of the Hmas command center, Israel’s military stated, “This is a further example of the Hamas terrorist organization’s systematic abuse of civilian infrastructure in violation of international law.”

“The IDF will continue to operate against Hamas in defense of the citizens of Israel,” it added.

The Palestinian Health Ministry, regarding the strike, stated that “The Israeli occupation committed a new massacre by targeting the displaced in the (Al-Faluja) school in the northern Gaza Strip this evening, where 11 martyrs and more than 22 injuries have arrived at hospitals so far, including women and children.”

END

Palestinian gunmen shoot and kill aid worker in Gaza, charity and family say

An aid worker from US-based charity HEAL Palestine was tragically killed in Gaza when Palestinian gunmen fired on her car, later telling the family it was a case of mistaken identity.

By REUTERSSEPTEMBER 27, 2024 15:01

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Palestinian gunmen in the Gaza Strip shot and killed an aid worker from a US-based charity, firing on her car in what Hamas-run government officials told her family was a case of mistaken identity.

The car in which Islam Hejazy, Gaza program manager at HEAL Palestine, was traveling was intercepted on Thursday in the area of Khan Younis in the south of the enclave.

Gunmen riding in three cars sprayed the vehicle with dozens of bullets, according to residents and the woman’s family.

“She was the mother of two small children and a humanitarian with the highest ethics and professionalism,” HEAL Palestine, posted on its Facebook page.

“HEAL Palestine is more dedicated than ever to serving Gaza, in her honor. Ceasefire now,” it added.

Her family issued a statement on Friday, saying they were told by government parties at the hospital where her body was taken that she was killed by mistake. Her killers, whose identity wasn’t immediately clear, had failed to identify the vehicle she was driving, they said.

There has been no immediate comment from Hamas.

“That was a bigger shock .. How would an innocent soul be wasted and 90 bullets fired at her car just for mistaken identification?” the family said in a statement published by Palestinian media.

Reuters was not able to verify the number of bullets fired.

The incident highlights growing chaos and anarchy in Gaza almost a year into the Israel-Hamas war, which has weakened the ability of Hamas-run security services to police the streets, according to the group.

Palestinians have complained of rising theft, gangsters, and price-gouging merchants. Gaza has a population of 2.3 million people, and most of them have been internally displaced by the war.

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Israel and Hamas have been fighting since terrorists from the Palestinian group stormed into southern Israel on Oct. 7, killing 1,200 people and capturing 250 hostages.

RUSSIA/UKRAINE

RUSSIA/ISRAEL

Lavrov Reminded The World That Russia Is Committed To Ensuring Israel’s Security

FRIDAY, SEP 27, 2024 – 06:30 AM

Authored by Andrew Korybko via Substack,

One of the greatest misperceptions in modern times is the notion that Russia is secretly against Israel, which is pushed by the Mainstream Media (MSM) and the Alt-Media Community (AMC) despite them being one another’s rivals, each in advance of their own ideological interests. The MSM believes that this contributes to anti-Russian fearmongering while the AMC believes that this makes people like Russia more. Before explaining why this isn’t true, here are five background briefings for folks to review:

* 10 May 2018: “President Putin On Israel: Quotes From The Kremlin Website (2000-2018)”

* 25 October 2023: “Both Sides Should Appreciate Russia’s Principled Neutrality Towards The Israeli-Hamas War”

* 19 November 2023: “Lavrov Revealed That Putin Has Been A Lifelong Supporter Of ‘Ironclad Security’ For Israel”

* 31 December 2023: “Clarifying Lavrov’s Comparison Of The Latest Israeli-Hamas War To Russia’s Special Operation”

* 1 September 2024: “Lavrov’s Comparison Of Israel & Ukraine As Regional Warmongers Isn’t As Clear-Cut As It Seems”

In brief, Russia has always carefully balanced between Israel and the Iranian-led Resistance Axis, but it’s usually leaned closer to Israel since it never seriously considered sanctioning the self-professed Jewish State even though it earlier agreed with the UNSC to impose sanctions against the Islamic Republic. To this day, despite loudly advocating for the Palestinians’ political and humanitarian cause, Russia still won’t sanction Israel or arm Hamas. Israel isn’t even symbolically designated as an “unfriendly country”.

Russian Foreign Minister Sergey Lavrov used his latest interview with Sky News Arabia to remind the world about the true state of his country’s relations with Israel, to which Russia remains committed in ensuring its security contrary to what the MSM and AMC have claimed. He’s not “playing 5D chess” to “psyche out the Zionists” like some from the second media camp might imagine but is simply doing his job by articulating Russia’s foreign policy as it objectively exists. Here’s what he told his interlocutor:

“When some officials justify their actions by saying that they – the Jewish people – were victims of the Holocaust and therefore can be forgiven, this is a troubling trend. It is a sign of the exceptionalism characteristic of Hitler’s Germany and its ideology.

I have many friends in Israel. The vast majority of them understand that the issue of a Palestinian state must be resolved and that suppressing the natural rights of the Palestinian people is unacceptable.

…

Personally, I have good relations with many of my Israeli colleagues, including former ones. When speaking about the Middle East policy, President Vladimir Putin highlights Russia’s full commitment to security and fundamental interests of the State of Israel.

It is not for nothing that I mentioned the necessity of implementing the resolutions that require resolving the Middle East issues on a two-state basis, so that two independent and sovereign states, Israel and Palestine, exist as good neighbours, safely for each other and for the entire region. This essential approach needs no explanation; it complies with the interests of both Israel and Palestine.

We always stress in all our actions that no solutions are going to be viable if they fail to ensure Israel’s security, among other things, but not at the expense of the security of others.”

Several points stand out from what he said. For starters, while his comparison of Israel’s exceptionalist attitude to the Nazis’ is very unflattering and critical of the self-professed Jewish State, observers should remember that Russia still doesn’t regard Israel as an “unfriendly country”. Putin has also repeatedly praised it for remembering the USSR’s role in ending the Holocaust and continuing to commemorate Victory Day on 9 May. Here are three examples among many from the official Kremlin website:

* 9 May 2018: “Talks with Prime Minister of Israel Benjamin Netanyahu”

* 17 September 2019: “Keren Hayesod Foundation conference”

* 23 January 2020: “Remembering the Holocaust: Fighting Antisemitism forum”

Accordingly, any hype from the AMC about Russia supposedly being about to openly turn against Israel as implied by this latest rhetoric doesn’t align with the facts, and Lavrov even made as much clear in the second part of what he said in his interview. Not only does he have “many friends in Israel”, but he also has “good relations” with many of his Israeli colleagues, and he “always stress[es] in all of our actions that no solutions are going to be viable if they fail to ensure Israel’s security”.

The caveat though is that this should “not (be) at the expense of the security of others”, ergo why Russia continues to adhere to UNSC Resolutions calling for a two-state solution since it sincerely believes that this is essential to sustainably resolving the so-called ‘Palestinian Question’. This policy contrasts with Israel’s, which has unilaterally decided to ignore international law, thus lending false credence to the MSM and AMC’s claims that Russia is against Israel even though the aforesaid insight disproves that.

Russian diplomats have worked hard to carefully balance between Israel and the Iranian-led Resistance Axis, which is why it’s very disappointing that only a few of their supporters in the AMC recognize this, instead being convinced that they’re all a bunch of liars with a transparently anti-Israeli agenda.

Those who sincerely support Russia don’t have to agree with its regional balancing act, but they should at least acknowledge that it exists, not continue making false claims about it secretly being against Israel.

END

RUSSIA/UKRAINE/USA

Trump is right. He has figured out the scam that Zelensky and the his democrat friends have done to the USA

(zerohedge)

Trump Criticizes Zelensky, Reveals Private Message, Just Before Friday Meeting

Friday, Sep 27, 2024 – 09:10 AM

GOP presidential nominee Donald Trump and President Volodymyr Zelensky are expected to meet at Trump Tower in New York on Friday amid Republican anger accusing him of stumping for Kamala Harris on the American taxpayer’s dime.

The meeting also comes two days after former President Trump blasted Zelensky for not reaching a peace deal with Russia. He also trashed Zelensky as the “greatest salesman on earth” just as Biden authorized $8 billion more in defense aid for Ukraine.

“Those cities are gone. They’re gone, and we continue to give billions of dollars to a man who refused to make a deal, Zelensky. There was no deal that he could have made that wouldn’t have been better than the situation you have right now,” Trump had told a campaign rally in North Carolina.

Following this, the former president charged Zelensky with making “little, nasty aspersions” toward him. “It’s a shame what’s happening in Ukraine, so many deaths, so much destruction. It’s a horrible thing,” Trump said.

Earlier in the week, and after Zelensky publicly criticized J.D. Vance in a New Yorker interview, the Trump campaign had said a Trump-Zelensky meeting was highly unlikely. But by late Thursday that changed, and Trump revealed a personal and somewhat desperate sounding message that Zelensky sent him, urgently requesting a meeting. Trump posted the message in full to his Truth Social account. 

The message emphasized that Zelensky always speaks “with great respect” about Trump and that the two “have to strive to understand each other and remain in close contact.” It was passed to Trump by Denys Sienik, the deputy chief of mission for Ukraine’s US embassy.

Below is the message from Zelensky to Trump as posted on Truth Social:

“All of us in Ukraine want to end this war with a just peace,” Zelensky wrote. And we know that without America this is impossible to achieve. That’s why we have to strive to understand each other and remain in close contact.”

“Days ago, we requested a meeting with you, and I really want to hear your thoughts directly, and firsthand,” he continued. “You know I always speak with great respect about everything connected to you, and that’s how it should .”

Yesterday’s Zelensky visit to the White House resulted in ongoing criticism from conservative circles saying Zelensky is basically acting as a prop for the Harris campaign, in order for her to be seen looking ‘presidential’. But so far the White House has not granted the main request Zelensky is seeking: the lifting of all restrictions regarding using long-range West-supplied missiles to strike Russia.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1839399924120862828&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Ftrump-criticizes-zelensky-reveals-private-message-just-friday-meeting&sessionId=8ada3cfabd2ff14b6527a0e122d5bbe39c3f56a8&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

Trump has said of the Friday late morning meeting with Zelensky, “I look forward to seeing him.” He described, “We’ll see — I do believe I disagree with him — well, he doesn’t know me. I disagree, but I will say this: I believe I will be able to make a deal between President Putin and President Zelensky quite quickly.”

Zelensky has been pushing his ‘victory plan’ in Washington, and is expected to try and convince Trump to stay the course of strong Ukraine support if he takes the White House again after the November election.

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

MARK CRISPIN MILLER

Ringo cancels shows; Heart cancels tour; Brujeria cancels all show dates; Janey Godley cancels tour; Sky’s Rachel Brookes is off the air (appendicitis); Kis-My-Ft2 (JP) cancels tour

SA: “Deputy President Paul Mashatile will miss both the National Council of Provinces session and former Minister Pravin Gordhan’s funeral, scheduled for Thursday, due to a recent health scare”

Mark Crispin MillerSep 27

READ IN APP

UNITED STATES

Ringo Starr Cancels Remaining Tour Dates on Doctor’s Orders

September 25, 2024

Ringo Starr, 84, has canceled the final two shows of his fall tour after falling ill.

The legendary rock star, who has been touring with his All Starr Band, announced on Tuesday that he’s come down with a minor illness. “Ringo has come down with a cold, and after consulting a doctor he was advised to cancel these two remaining shows and get rest,” a rep for Starr said in a press release (via People).

The canceled shows were scheduled for Tuesday evening at Philadelphia’s TD Pavilion at The Mann in Philadelphia, and for Wednesday at Radio City Music Hall in New York City. Affected ticket holders will be notified by email and automatically refunded. “As always, Ringo and the All Starrs send peace and love to their fans and hope to see them soon,” the press release concluded.

Link

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Heart’s Ann Wilson Shares Major Health Update After Abrupt Tour Cancellation

September 25, 2024

Ann Wilsonhad an exciting health update [sic] to share with her fans on Wednesday, Sept. 25.

Less than three months after revealing she had cancer, the lead singer of Heart announced in a voice message shared on Instagram that she is now done with chemotherapy and “doing absolutely fine now.”

The rock singer said the treatment process was “a lot” and that chemo itself “is no joke.”

“It takes a lot out of a person,” she said. “And then there’s that two weeks of waiting around for test results, a form of mental torture. For anyone who’s been through that, I empathize big time.”

Wilson, 74, announced in a July 2 statement shared on Instagram that she underwent an operation “to remove something that, as it turns out, was cancerous.” While she described the operation at the time as being “successful,” she noted that her medical team recommended she begin a round of preventative chemotherapy, advice she decided to heed.

To assist with her treatment and recovery, Wilson said her doctors also urged her to put a pause on her band’s tour schedule through the end of the year. As Heart announced in a separate statement shared on social media, the band decided to postpone its Royal Flush Tour “due to medical reasons” but said the shows would be rescheduled.

Link

Brujeria cancels all tour dates due to “severe medical emergency”

September 16, 2024

Brujeria has sadly had to cancel all their upcoming tour dates due to an unspecified severe medical emergency. Brujeria promises an update about their situation soon, but in the meantime we wish everyone in the band all the best. The cancellation is especially tragic considering Brujeria vocalist Pinche Peach passed away this July [57; reported here; a “serious heart complication”]. In the wake of Peach’s death, Brujeria promised they would fulfill their touring schedule. Sadly this is no longer the case as Brujeria suffered the above setback.

Link

UNITED KINGDOM

Janey Godley cancels tour as she receives treatment for incurable cancer

September 18, 2024

Janey Godley has cancelled her forthcoming tour as she deals with ongoing treatment for incurable ovarian cancer [reported here last summer]. Godley, 63, who was due to begin her UK tour Why Is She Still Here? this autumn, was advised to stop working “for the foreseeable future” because her cancer is spreading. In a video shared online, the comedian told fans that she has been in hospital for eight days to be treated for sepsis, and told by cancer specialists that she should not return to work. “The sepsis is under control but the cancer is spreading so they’ve told me not to work,” she said. A statement to the PA news agency said: “It is with huge sadness that we must announce the cancellation of Janey Godley’s autumn 2024 tour.”

Link

Sky F1 presenter Rachel Brookes reveals medical emergency during Azerbaijan GP weekend

September 15, 2024

Rachel Brookes [49] recently underwent emergency surgery after traveling to Baku for Sky F1’s coverage of the Azerbaijan Grand Prix. Brookes, a longtime member of Sky’s Formula 1 team, was scheduled to appear on camera this weekend but failed to appear – she has since explained why she wasn’t able to carry out her usual duties. Brookes took to social media during the Azerbaijan Grand Prix weekend to explain her absence, revealing that she had been diagnosed with appendicitis and required surgery. In her post, she lightheartedly referenced F1 drivers Alex Albon and Carlos Sainz, who have also dealt with the same condition in recent years – Albon missing the 2022 Italian Grand Prix, and Carlos Sainz this year’s Saudi Arabian Grand Prix as a result of their surgeries. “So I landed here Tuesday night and felt poorly,” Brookes wrote on her social media. “Thought it was just nasty food poisoning but yesterday found out that I had appendicitis and needed surgery.”

Link

SOUTH AFRICA

Mashatile misses NCOP session and Gordhan funeral following health scare

September 19, 2024

Deputy President Paul Mashatile [62] will miss both the National Council of Provinces (NCOP) session and former Minister Pravin Gordhan’s funeral, scheduled for Thursday, 19 September, due to a recent health scare. Mashatile collapsed at the weekend while delivering a keynote address at N’wamitwa Day Celebrations in Tzaneen, Limpopo. “His medical team has advised him to take a week off his official duties to rest and recuperate following the medical incident over the weekend in Tzaneen, Limpopo. While the deputy president is no longer in danger and is in high spirits, he is following the medical team’s advice and has withdrawn from scheduled official duties for the current week,” Paul Mashatile’s acting spokesperson, Keith Khoza, said.

Link

JAPAN

Kis-My-Ft2’s Takashi Nikaido to temporarily suspend activities due to poor health

September 15, 2024

It’s been announced that Kis-My-Ft2 member Takashi Nikaido [34] will temporarily suspend his activities due to poor health. Kis-My-Ft2 just wrapped up their dome tour ‘Kis-My-Ft2 Dome Tour 2024 Synopsis’ on September 8 at Banterin Dome in Nagoya. Feeling unwell, Nikaido visited the doctor and was instructed to focus on treatment. As such, he will be suspending his activities for the time being.

No aged reported.

Link

DR PAUL ALEXANDER

Irish soccer player (23 years old) died five days after Covid-19 vaccine from catastrophic brain bleed; I ask again, when will this INSANITY end? Who in their right mind will take these COVID shots

when there is no risk to a healthy 23-year-old, no risk due to any COVID virus, and vaccines that have shown themselves to be harmful? Who? Lioness of Judah Ministry raises questions!

DR. PAUL ALEXANDERSEP 27

READ IN APP

The heartbroken family of a talented Waterford soccer player who suffered a catastrophic brain bleed four days after receiving a Covid-19 vaccine insist they want the true cause of his death to be known.’

‘Roy Butler (23) died five days after receiving the one-shot Janssen-Johnson & Johnson Covid-19 vaccine in 2021.’

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

Upgrade to paid

See substack by Lioness, please support:

‘By Frank Bergman September 25, 2024

The parents of a 23-year-old soccer player are demanding answers after their son died from a catastrophic brain bleed after receiving a Covid “vaccine.”

Roy Butler died just five days after receiving the one-dose Janssen-Johnson & Johnson COVID-19 viral vector injection.

While reporting on his death, local media made no mention of any connection to the Covid shot he’d been given.

The rising soccer star, who resided in Waterford, Ireland, received the one-shot vaccine at a pharmacy on August 12, 2021.

A mere four days later, he suffered a catastrophic brain bleed and died.

Now, Butler’s family is demanding answers and his parents want the rest of the world to know the truth that the corporate media and local news outlets have been refusing to cover.

Butler, a soccer player with lots of promise, and his family are from the Munster province in southern Ireland.

This week, the family has been attending the inquest into Roy Butler’s death.

Martin and Angela Butler, the parents, and Roy’s brother Aaron came forth with evidence about the last five days of his life.

“Roy was a perfectly healthy young man before the vaccine,” said Angela Butler, Roy’s devastated mom.

“I just want the truth about Roy to be known.

“He was my baby boy.”

The young man with such a promising future worked at the medical device corporation Bausch & Lomb in Waterford.

He was also captain of the local soccer team Villa FC.

Those who knew him said he had a very promising future in his career at Bausch & Lomb and as a talented soccer player.

On the initial report of his passing in August 2021, there was no mention of the lethal Covid injection.

The cause of death has been buried in the Irish corporate media.

However, the family is fighting back.

Earlier this week, journalist Ralph Riegel raised awareness about this vaccine-related mortality in an article for the Irish Independent.

Based in the southeast of Ireland in the Munster province, Butler was apprehensive about getting the Covid vaccine.

The Cork Coroner’s Court inquest made this fact known.

However, the young man had a trip to Dubai and needed to be vaccinated to travel there for a vacation.

After receiving the jab, Butler reported not feeling well to family members and friends via text.

He reported from headaches, grogginess, and sweating to jaw and neck soreness.

In one text, Roy Butler communicated, “I am not dying… I am just not well.”

According to the Irish Independent report, this latest inquest declared that it’s been notified that there is more evidence of people being killed in the same way by the shot.

Evidence will be submitted showing 59 other people suffered intracranial bleeds within 10 days of receiving the same vaccine.

Coroner Philip Comyn has set aside three days for the inquest into Butler’s death.

Angela Butler said her son had gone to the gym on the afternoon of August 16.

However, the mother revealed that her son returned home a short time later complaining of feeling unwell and fearing that he might collapse.

The Irish Independent details much more associated with this apparent vaccine-related death.

A report from the Health Products Regulatory Authority (HPRA) was also submitted to the coroner revealing no previous report of a cerebral haemorrhage linked to a Covid-19 vaccine.

Neuro-radiologist Dr. Gerald Wyse said a computed tomography (CT) scan at Cork University Hospital (CUH) revealed Butler had a large cerebral hematoma.

Butler’s cerebral hematoma, which occurs when blood pools in the tissues of the brain, measured 8.1cm.

The Butler family is represented by attorney Ciara Davin BL.

Pharmaceutical giant Janssen-Johnson & Johnson is represented by John Lucey SC for the inquest.

The Janssen Covid vaccine has been withdrawn from the global market, including the United States.

In May 2023, the U.S. Food and Drug Administration (FDA) revoked the Emergency Use Authorization (EUA) for the Janssen vaccine at the request of the company.

Janssen decided to cease production and distribution of the vaccine in the U.S.

The company said it was pulling the injection due to declining demand.

This Covid vaccine was also associated with several rare but serious adverse effects, such as thrombosis with thrombocytopenia syndrome (TTS), a rare blood clotting condition.

Also, reports of Guillain-Barré Syndrome (GBS), a rare but real neurological disorder in which the body’s immune system mistakenly attacks the nerves, were also linked to the injections.

GBS can lead to muscle weakness, difficulty walking, and in severe cases, paralysis.

Cases of the disorder were recorded after vaccination, particularly in men over 50.

Most people recovered fully, though recovery could take time.

Other conditions could emerge such as severe allergic reactions called anaphylaxis.

The occurrence of TTS, in particular, led to a temporary pause in the vaccine’s use in April 2021.

It eventually contributed to the decision to withdraw the shot from the market.

By the time of the withdrawal in the U.S., the Centers for Disease Control and Prevention (CDC) had already recommended using mRNA vaccines like Pfizer-BioNTech and Moderna as the preferred Covid injections in the U.S., further reducing demand for the Janssen vaccination.

At least for a while, the only deaths that the CDC would acknowledge in associated with Covid shots were linked to the Janssen vaccine.

Source: slaynews.com’

__

SLAY NEWS

The latest reports from Slay News

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EVOL

Iran threatens to back Hezbollah ‘with all means’ if fighting with Israel escalates – EVOLREAD MORE…

LATEST NEWS:

Whistleblower: Hospitals Killed Patients, Blamed Deaths on ‘Covid’ – EVOLRead more…REPORT: Mark Zuckerberg Has Spoken With Trump In Recent Weeks, Is Growing Disillusioned With ‘Far-Left’ – EVOLRead more…South Carolina Must Give Out-of-State Requesters Access to Voter Roll – EVOLRead more…Russia has a secret war drones project in China, intel sources say – EVOLRead more…Whistleblower tells Josh Hawley Secret Service forced Trump to cancel Wisconsin rally due to inadequate staffing – EVOLRead more…BREAKING: NYC Mayor Eric Adams Indicted in Federal Corruption Probe. – EVOLRead more…Live Updates: Eric Adams Is Indicted in New York – The New York Times – EVOLRead more…WATCH: Kamala just learned the word ‘holistically’ and it’s CRINGE – EVOL

NEWS ADDICTS

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

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

CANADA

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:  1.1162 DOWN 0.0015

USA/ YEN 143.11 DOWN 1.951 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//END OF YEN CARRY TRADE BEGINS JULY 2024/Bank of Japan raises rates by .15% to 1.15..UEDA END HIKING RATES AND NOW CARRY TRADES NOW IMPLODES//YEN CARRY TRADE TRYING TO RE ESTABLISH

GBP/USA 1.3390 DOWN .0021

USA/CAN DOLLAR:  1.3475 DOWN 0001 (CDN DOLLAR UP 1 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED UP 86.58 PTS OR 2.88%

 Hang Seng CLOSED UP 707.72PTS OR 3.55%

AUSTRALIA CLOSED UP 0.17%

 // EUROPEAN BOURSE:     ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 707.72 PTS OR 3.55%

/SHANGHAI CLOSED UP 86.58 PTS OR 2.88%

AUSTRALIA BOURSE CLOSED UP 0.17%

(Nikkei (Japan) CLOSED UP 903.93 POINTS OR 2.32%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 2667.85

silver:$31.98

USA dollar index early FRIDAY  morning: 100.22 DOWN 3 BASIS POINTS FROM  THURSDAY’s CLOSE.

FRIDAY  MORNING NUMBERS ENDS

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And now your closing  FRIDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.693%  DOWN 2 in basis point(s) yield

JAPANESE BOND YIELD: +0.897% UP 6 AND 2/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.916 DOWN 6 in basis points yield

ITALIAN 10 YR BOND YIELD 3.448 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.1380 DOWN 4 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 1.1170 DOWN .0001 OR 1 basis points

USA/Japan: 142.89 DOWN 2.16 OR YEN IS UP 216 BASIS PTS//

Great Britain 10 YR RATE 4.0200 DOWN 2 BASIS POINTS //

Canadian dollar DOWN .002 OR 2 BASIS pts  to 1.3478

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The USA/Yuan,  CNY ON SHORE CLOSED UP AT 7.011 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (6.9801)

TURKISH LIRA:  34.16 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.897

Your closing 10 yr US bond yield DOWN 2 in basis points from THURSDAY at  3.774% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.105 DOWN 2 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.6000 DOWN 2  BASIS PTS.

GOLD AT 11;00 AM 2661.25

SILVER AT 11;00: 31.95

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 UP 35.85 PTS OR 0.43%

German Dax :  CLOSED UP 235.27OR 1,.22%

Paris CAC CLOSED UP. 49.70 PTS OR 0.64%

Spain IBEX CLOSED UP 14.70 OR 0.12%

Italian MIB: CLOSED UP 318.06 OR 0.92%

WTI Oil price  67.69 12 EST/

Brent Oil:  71.61 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  93.83 ROUBLE DOWN 0 AND  72/100      

GERMAN 10 YR BOND YIELD; +2.1380 DOWN 4 BASIS PTS.

UK 10 YR YIELD: 4.0299 DOWN 2 BASIS POINTS

CDN 10 YEAR RATE: 3.0000 DOWN 2 BASIS PTS.

CDN 5 YEAR RATE: 2.781 DOWN 1

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1170 DOWN 0.0010 OR 10 BASIS POINTS

British Pound: 1.3381 DOWN 0.0030 OR 30 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.981 DOWN 4 BASIS PTS//

JAPAN 10 YR YIELD: 0.854

USA dollar vs Japanese Yen: 142.11 DOWN 2.96 UP 296 BASIS PTS//

USA dollar vs Canadian dollar: 1.3513 UP 0.0031 CDN dollar DOWN 31 BASIS PTS

West Texas intermediate oil: 68.25

Brent OIL:  7205

USA 10 yr bond yield DOWN 4 BASIS pts to 3.7520

USA 30 yr bond yield DOWN 3 BASIS PTS to 4.098%

USA 2 YR BOND: DOWN 6 PTS AT  3.563

CDN 10 YR RATE 2.976 DOWN 7 BASIS PTS

CDN 5 YEAR RATE: 2.756 DOWN 6 BASIS PTS

USA dollar index: 100.15 DOWN 13 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.18 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  95.32 DOWN 1 AND  72/100 roubles

GOLD  2,649.40 3:30 PM

SILVER: 31.60 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 137.84 PTS OR 0.33%

NASDAQ DOWN 106,91 PTS OR 0.53%

VOLATILITY INDEX: 16.78 UP 1.41 PTS OR 9.19%

GLD: $245,02 DOWN 1.96OR 0.79%

SLV/ $28,56DOWN 0.40 OR 1,37%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Gold & Crypto Rip As US Stocks Shrug Off Shanghai Money-Drop

by Tyler Durden

Friday, Sep 27, 2024 – 04:00 PM

One of these things is not like the others…

Source: Bloomberg

Chynaaah crushed it this week as Beijing unleashed the bazooka to Make China Wealthy Again after one of our best-timed calls ever…

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1839641221301403824&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fgold-crypto-rip-us-stocks-shrug-shanghai-money-drop&sessionId=84b14048dbbdfbc33bdea17c42d6c249d9783ee9&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

European equities benefited more from the apparent liquidity-gasm coming from the east, but US equities were mixed on the week with Small Caps actually ending lower and Nasdaq managing only a 1% gain (well offthe 2.5% gains at the peak mid-week)…

Not exactly the kind of week the bull shad hoped for when China dropped their Headlines.

Mag7 stocks ended the week unchanged…

Source: Bloomberg

China Internet stocks soared 32% MTD, while Mag7 stocks are up just 3%…

Source: Bloomberg

‘Most Shorted’ stocks managed decent gains on the week (thanks to Thursday and Friday)…

Source: Bloomberg

Growth and Value were equally (mildly) impressed this week

Source: Bloomberg

Fed rate-cut expectations chopped around but were basically unchanged on the week (thanks to a dovish shift today)…

Source: Bloomberg

Treasury yields were mixed on the week and only modestly changed close-to-close on the week with the short-end outperforming (2Y -3bps, 30Y +1bps)…

Source: Bloomberg

The yield curve steepened notably to start the week, then flattened aggressively yesterday, bouncing back off unchanged on the week today…

Source: Bloomberg

The dollar weakened for the 4th straight week, closing at its lowest since Dec 2023…

Source: Bloomberg

Gold rallied for the 3rd straight week, breaking to new record highs before today’s sell-off…

Source: Bloomberg

Bitcoin also rallied the 3rd straight week, breaking above $66,000 today…

Source: Bloomberg

Ethereum rallied off January lows and broke above $2700 this week…

Source: Bloomberg

Despite all the stimmies and WW3 risk, oil prices were lower on the week (of course)…

Source: Bloomberg

Finally, macro growth data is surprising to the upside, and macro inflation data is surprising to the downside…

Source: Bloomberg

Does that look like an environment that needed a 50bps rate-cut? Or that needs 75-100bps more by the end of the year?

Perhaps this is why gold and crypto is rallying hard…

Source: Bloomberg

US Sovereign risk exploding higher… did The Fed cut rates to rescue the Treasury?

Secure your wealth against inflation with JM Bullion.

BUY GOLD & SILVER TODAY

MORNING TRADING

AFTERNOON TRADING///

II USA DATA

Fed’s Favorite Inflation Indicator Hottest Since April, Govt Handouts Continue To Soar

Friday, Sep 27, 2024 – 08:44 AM

The Fed’s favorite inflation indicator – Core PCE – rose less than expected on a MoM basis (+0.1% vs +0.2% exp), but on a YoY basis, Core PCE rose from 2.6% to 2.7% (in line with exp) – the highest since April...

Source: Bloomberg

The headline PCE did fall to +2.2% YoY – the lowest since March 2021…

Source: Bloomberg

So-called SuperCore PCE re-accelerated in August to +3.29% YoY…

Source: Bloomberg

Both income and spending rose less than expected in August (income smallest MoM rise since Jul 2023 and spending equal lowest since Jan 2024)…

Source: Bloomberg

On a YoY basis, both spending and income growth slowed…

Source: Bloomberg

Thanks to massive revisions (don’t even get us started), the savings rate is apparently hovering near three years highs at 4.8% of disposable income. For comparison, the savings rate (pre-revision) in July was 2.9%… WTF!

Source: Bloomberg

And finally, imagine how bad things would be if the government wasn’t having over billions to ‘we, the people’ all of a sudden…

Source: Bloomberg

In other words, the consumer is now wiped out and yet key inflation measures refuse to drop materially. So yes, the Fed will continue to cut (election year after all) and then we can finally unleash the second coming of the Arthur Burns hyperinflation Fed.

III  USA ECONOMIC COMMENTARIES

Two Million Without Power After Helene Pounds Florida, Now Moving Towards Atlanta

FRIDAY, SEP 27, 2024 – 07:45 AM

Hurricane Helene slammed into Florida’s Big Bend area late Thursday night as a powerful Category 4 storm but weakened to a tropical system early Friday morning over Georgia. 

The latest data from NHC shows Helen was about 100 miles southeast of Atlanta and moving north at 30 mph. Winds are still in excess of 70 mph, just four mph below Category 1 status. 

“Catastrophic, life-threatening, record-breaking flash & urban flooding. As Helene continues moving inland, damaging wind gusts will continue, particularly over high terrain southern Appalachians,” NHC warned. 

The weather agency noted, “In particular the inland wind hazards of Helene are highlighted by the new experimental cone. A widespread area of Tropical Storm Warnings are still in effect for North Florida, most of Georgia, all of South Carolina, and Western North Carolina.”

According to NHC, Helene made landfall just miles from Perry, Florida, in the late overnight hours, with maximum sustained winds of 140 mph. The storm churned northwards across Florida into Georgia, killing three people and leaving two million plus without power across several states.

Florida Gov. Ron DeSantis told reporters overnight that 3,500 National Guardsmen are on standby, prepared to respond to emergencies across the Big Bend region. 

Data from the flight tracking website FlightAware shows widespread flight disruptions in the southeastern part of the US. 

NASA’s International Space Station flew over the massive storm on Thursday evening. 

x.com/Space_Station/status/1839431645147087124x

Georgia, North/ South Carolinas, and as far north as Virginia have already declared a state of emergency, as models show the storm’s future trajectory is through the Appalachian region. 

This area badly needs rain.

Here’s our reporting on the storm:

• Gov. DeSantis Declares State Of Emergency Ahead Of Dangerous Hurricane Threat
• Tropic Trouble Brewing In Gulf Of Mexico Could “Slingshot” Towards Offshore Oil Rigs
• “Something Brewing In Gulf Of Mexico” As Confidence Grows In Cyclone Formation Next Week
• Ports Preparing For Hurricane Helene As Storm Bears Down On Florida
• “High-End Cat. 3” Hurricane Helene Forecast To Hit Florida’s Big Bend
• Hurricane Helene Becomes ‘Nightmare’ Storm With ‘Unsurvivable’ Storm Surge Ahead Of Florida Landfall

END

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

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

end

END

FREIGHT ISSUES/USA/

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

.

END

SWAMP STORIES

Trump will win this as well

(EpochTimes)

Appeals Court Seems Skeptical Of New York Civil Fraud Suit Against Trump

\

THURSDAY, SEP 26, 2024 – 10:35 PM

Authored by Sam Dorman via The Epoch Times (emphasis ours),

Appeals judges in New York fielded multiple questions to the New York Attorney General’s Office on Sept. 26 indicating that they were skeptical of its application of an anti-fraud law to former President Donald Trump’s business practices.

The questions came during oral arguments over Trump’s claims that the state Supreme Court erred in handling the civil fraud case, which resulted in a $489 million penalty for the former president.

Trump’s attorney in the case, D. John Sauer, told a five-judge panel in the court’s appellate division that the judge and prosecutors flouted time limits on the claims involved. He noted that Attorney General Letitia James’s office pressed an overly broad interpretation of legally punishable fraud and that, regardless, the former president hadn’t committed fraud in his dealings with banks and others.

Some of the judges questioned whether the state was acting within the bounds of its authority or had a legitimate interest in bringing the suit.

Justice David Friedman pressed New York Deputy Solicitor General Judith Vale on whether there was any precedent for the attorney general suing over transactions involving sophisticated parties where neither “lost any money.”

“Every case that you cite involves damage to consumers, damage to the marketplace. … We don’t have anything like that here,” Friedman said.

Vale argued that “there was absolutely a public impact and a public interest here.”

“There are at least four different public harms from the kind of misconduct here,” she said.

Vale also said that “when risk is injected into the market, that does hurt the counterparties and it does hurt the market as a whole.”

Justice Peter Moulton asked, “How do we draw a line, or at least [put up] some guardrails to know when the AG is operating well within her broad, admittedly broad sphere of 63(12)?”

Moulton was referring to New York Executive Law 63(12), which is the statute James used in suing Trump. The statute allows the attorney general to apply for court intervention when “any person shall engage in repeated fraudulent or illegal acts or otherwise demonstrate persistent fraud or illegality in the carrying on, conducting or transaction of business.”

Part of Sauer’s argument was that the attorney general’s conception of fraud was too loose and noted that no one was victimized by Trump’s conduct.

At one point, he told the court that under existing precedent, “there has to be a capacity or tendency to deceive, or atmosphere conducive to fraud.”

“And what we’ve pointed out is that you have a situation where there were no victims, no complaints,” he said, also saying that Trump’s business partners did their due diligence.

Presiding Justice Dianne Renwick was skeptical that the statute required some kind of harm in order to prove fraudulent activity. She read the relevant portion of the statute and told Vale: “I don’t read harm or threat of harm in that, but the other side is saying that that is to be read into this statute.

“Are there any cases where the language harm or threat to harm limits the scope of the attorney general?”

Vale said that there weren’t “as to liability and not in cases like this where what the attorney general is seeking injunctive relief and disgorgement.”

Trump is currently facing a disgorgement of $489 million with interest accruing by the day.

During oral arguments, Vale encountered multiple questions about the appropriateness of the disgorgement. Moulton told Vale that the disgorgement amount was “troubling.”

“How do you tether the amount that was assessed by [the] Supreme Court to the harm that was caused here, where the parties left these transactions happy about how things went down?” he asked.

Vale responded that “disgorgement looks at taking the gain away from the wrongdoer.” Although the amount was high, she said that “there was a lot of fraud … and illegality.”

Reuters contributed to this report.

end

Brilliant!

(EpochTimes)

“This Was A Mistake”: Wisconsin City Clerk Office Confirms It Sent Out 2,200 Duplicate Ballots

Friday, Sep 27, 2024 – 08:50 AM

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

The City of Madison has confirmed that more than 2,000 voters in Wisconsin’s capital city were sent duplicate absentee ballots, weeks before the November election.

“This was a mistake,” Madison city spokesperson Dylan Brogan said. “The clerk’s office moved to rectify it as quickly as possible.”

On Sept. 23, the City of Madison initially said that “around 2,000” duplicated ballots were sent to voters in the city, prompting concerns from Rep. Tom Tiffany (R-Wis.), who sent a letter to the city clerk demanding answers about how many duplicated ballots were sent out.

Responding to Tiffany’s letter, Madison City Clerk Maribeth Witzel-Behl released a statement on Sept. 25 confirming that 2,215 duplicate ballots were sent out in Madison, which has leaned heavily Democratic in recent presidential elections.

The error, she said, was disclosed by voters who received the ballots, prompting an immediate investigation by the city clerk’s office. No duplicate ballots have been returned, according to the city.

The sending out of the erroneous ballots was caused by a “simple data processing error made by one of the many dedicated, professional staff who work for the City, and as noted above the process has since been corrected to prevent a similar error from occurring,” Witzel-Behl said.

“It is clear that this incident involved human error and involved no criminal conduct, so there is no reason to contact law enforcement,” Witzel-Behl said, responding to Tiffany’s question about whether law enforcement was involved.

She said that “occasionally human errors” occur in elections and that the city’s staff works “incredibly hard to conduct elections in a professional, nonpartisan and fair manner and works to continually assess and improve” its processes. She then alluded to “attacks” targeting election officials that “seek to undermine the confidence of voters in … election results.”

In the 2020 presidential contest, election officials narrowly certified then-Democratic candidate Joe Biden as winner over President Donald Trump in the battleground state.

Two recount efforts were initiated across Wisconsin in the aftermath, including one involving Madison. Ultimately, the state certified Biden as the victor.

In his letter, Tiffany made reference to the 2020 election and alleged that Madison officials have a “history of controversial and legally dubious election practices,” adding that it’s “important” for the Wisconsin capital “to provide full transparency regarding how an ‘error’ of this magnitude was allowed to happen at such a pivotal time.”

“Voters deserve clear answers regarding the full scope of this blunder, how the city plans to restore public confidence in its ability to accurately administer the election, and assurances that those responsible are held accountable,” the lawmaker said.

On social media, Tiffany posted a letter, dated Sept. 26, to the clerk’s office saying that he rejects her explanation for the sending of duplicated ballots.

“An independent, third-party investigation is needed to restore public trust,” he wrote on X.

Brogan, the city spokesman, said the mistake occurred when two identical files were merged, resulting in the creation of a list with double the names and double the addresses. Up to 2,000 duplicate ballots in one ward were mailed late last week before the mistake was caught and corrected, Brogan said.

The clerk’s office has been contacting voters individually to notify them of the error and cautioning them to submit only one ballot, Brogan said. However, because the ballots have identical barcodes, if two ballots are submitted, only the first one scanned will be counted, Brogan said.

As of Sept. 23, Madison had sent 27,421 absentee ballots and none had been returned, according to the state elections commission. Brogan echoed what the city’s statement said in that none of the duplicate ballots had been returned since then.

The Associated Press contributed to this report.

KING REPORT

The King Report September 27, 2024 Issue 7336

Independent View of the News

China Weighs Injecting $142 Billion of Capital Into Top Banks (1T yuan) The funding will mainly come from the issuance of new special sovereign bonds… would be the first time since the global financial crisis in 2008 that Beijing has injected capital into its big banks… https://finance.yahoo.com/news/china-weighs-injecting-142-billion-015612259.html   Shanghai unveils 500-million-yuan voucher plan to boost consumption after stimulus package E-coupons will offer anyone in Shanghai discounts on a wide range of purchases, from hotels and movies to restaurants and sporting events  https://www.scmp.com/economy/economic-indicators/article/3279947/shanghai-unveils-500-million-yuan-voucher-plan-boost-consumption-after-stimulus-package   Taiwan reports surge of Chinese warplanes off its coast Taiwan’s defence ministry said it had detected 43 Chinese military aircraft operating around the island, at least 11 of which had crossed the median line of the Taiwan Strait that previously served as an unofficial barrier…    http://reut.rs/3ZFxMjI   In First Post-Rate-Cut Speech, Fed Chair Powell Doesn’t Comment on Monetary Policy https://www.zerohedge.com/markets/watch-live-fed-chair-powell-speaks-first-time-slashing-rates-50bps   US Stocks Advance as Data (GDP, Durables & Jobless Claims) Shows Strong Economy – BBG   The above Bloomberg headline and Thursday’s economic data suggest that the Fed’s jumbo rate cut was driven by politics and was NOT ‘data driven.’  Yes, Virginia, the Fed is political and lies like a politician.   Q2 GDP 3.0%, 2.9% expected; Consumption 2.8%, 2.9% expected; GDP Price Index 2.5% as expected; Core PCE Price Index 2.8% as expected.   Aug Durable Goods 0.0% m/m, -2.6% expected, July 9.9% from 9.8% Ex-Trans 0.5% m/m, 0.1% expected, July -0.1% from -0.2% Nondefense Ex-Air 0.2%, 0.1% expected; July -0.2% from -0.1% Shipments 0.1% as expected, July -0.4% from -0.3%   Initial Jobless Claims 218, 213k expected, prior 222k from 219k Continuing Claims 1.834m, 1.828m expected, prior 1.821m from 1.829m   Aug Pending Home Sales 0.6% m/m & -4.3% y/y; 1.0% m/m & -5.5% y/y expected   Barr Says Fed Exploring Tying Liquidity to Uninsured Deposits – BBG To protect uninsured depositors… without having the government directly guarantee them…  It would also look to make the Fed’s principal emergency lending facility, the discount window, more palatable…     Regulators are exploring a requirement that larger banks maintain a minimum amount of readily available liquidity with a “pool of reserves and pre-positioned collateral” at the discount window, based on a fraction of their uninsured deposits…   @FedGuy12: Barr is boosting demand for Treasuries by strengthening the fungibility between reserves and Tsy for banks. He will allow banks to take into account monetizing of Treasuries via discount window or standing repo facility for their liquidity tests. https://t.co/AUcOT39nE2   Yellen on CNBC: There appears to be an expectation among the Fed that rates will come down further… The labor market and inflation suggest that we are on the path to a soft landing.   Politico: Janet Yellen Defends Her Record – and Delivers a Warning These days, there’s also another, more foundational item on her list: whether we’ll have a peaceful transition of power after the 2024 election. (Yellen campaigning against DJT violates the Hatch Act!)      The smooth transfer of power after elections, she said, is “really essential to our having a democratic system and a democratic government, and one of the tremendous strengths of our financial system is that it is based on strong institutions and rule of law.”… https://www.politico.com/news/magazine/2024/09/26/what-janet-yellen-is-worried-about-00181113   Team Obama-Harris is in panic over polling.  No matter how much ‘they’ proclaim that rates will fall, rate cuts will NOT boost the economy enough to matter by the November 5 election.   Justice Department Probes Super Micro Computer: WSJ 10:49 ET   SCMI tumbled as much as 15.0% on reports that the DoJ is investigating its accounting.  Reportedly SCMI is Nvidia’s third largest customer.  NVDA fell from its daily high of 127.665 at 9:39 ET to a daily low of 121.80 at 13:19 ET.   Due to the latest Chinese stimulus schemes, ESZs rallied from their opening on Wednesday night until they hit a daily high of 5830 at 9:10 ET.  ESZs then rolled over and tumbled after the SCMI news.  ESZs hit 5789.00 at 10:57 ET.  The manipulation for the European close pushed ESZs to 5805.50 at 11:58 ET.   ESZs then sank to a new daily low of 5778.25 at 13:19 ET.  The ingrained afternoon rally took ESZs to 5806.00 at 14:17 ET (2 minutes after VIX Fix).  ESZs then eased lower until the late manipulation pushed them to 5808.25 at 15:59 ET.   After vacillating between very small gains and losses from the Nikkei opening to the European opening, USZs rallied to a daily high of 124 22/32 (+13/32) at 8:24 ET.  They tanked after the US Q2 GDP Report, eventually hitting a low of 123 23/32 (-18/32) at 10:30 ET.  After a solid 7-year auction ($44B, 3.668% vs 3.875% WI)), USZs rallied to 124 24/32 at 15:10 ET.   Positive aspects of previous session Gasoline and oil declined sharply on reports that Saudi Arabia will hike oil output in December. The conditioned afternoon equity rally in the US appeared.   Negative aspects of previous session USZs were -2/32 at the NYSE close. The December gold contract hit a new high of 2708.70. The Fed’s jumbo rate cut increasingly looks political – and the Fed is NOT data driven.   Ambiguous aspects of previous session Will Mr. Bond be right about inflation?  If Mr. Bond is right, what will happen to the Fed?   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5744.58 Previous session S&P 500 Index High/Low: 5767.37; 5721.01   Fed Balance Sheet: -$29.078B with MBS -$17.652B & Loans -$ 8.958B: Reserves at Fed: -$144.132B   FBI investigating US venture capital fund for giving trade secrets to Beijing: report Between 2015 and 2018, California-based Hone Capital invested the Chinese funds in 360 American tech start-ups, including the payment group Stripe, aerospace engineer Boom and the driverless-car manufacturer Cruise, according to the Financial Times… https://t.co/jyN0Igi0CT   @JacquiHeinrich: POTUS: “We put out a statement for a 21-day ceasefire along the Israeli-Lebanese border, be able to generate significant support from Europe as well as the Arab nations. It’s important this war not widen, I’ll have more to say about it tomorrow.”   Sen. @TomCottonAR: Where were the ceasefire demands when Hezbollah started this with thousands of missiles aimed at Israeli civilians? The antisemitic left is only concerned when Israel fights back.   Secret Service was warned of possible Iran ‘drone attack’ on Trump last year, agent told Senate Given the warning, the agent expressed “concern” that the Secret Service drone detection system was not operational during the Butler rally…   https://t.co/SfkRpSeh33   Secret Service told Trump campaign it lacked manpower for security at a planned outdoor rally in Wisconsin: NBC  https://www.nbcnews.com/politics/2024-election/live-blog/trump-harris-election-live-updates-rcna172164#rcrd56615   Secret Service ripped for plan to send agents to Disney World LGBTQ summit amid failures protecting Trump https://t.co/ihnGygBbe9   Today – Traders will play for the Friday Rally, emboldened by China’s stimulus schemes.  However, with no new Chinese stimulus schemes announced, NQUs are -29.50; ESUs are -3.75; and USZs are -3/32at 20:13 ET.  It could be another session of an early US decline and then an afternoon rally.   Expected economic data and events: Aug Personal Income 0.4%, Spending 0.3%; Aug PCE Price Index 0.1% m/m & 2.3% y/y; Core PCE Price Index 0.2% m/m & 2.7% y/y; Aug Wholesale Inventories 0.2% m/m, Retail Inventories 0.6% m/m; Aug Advance Goods Balance -$100.3B; Sept UM Sentiment 69.3; Boston Fed Pres Collins & Fed Gov. Kugler 9:30 ET, Fed Gov. Bowman 13:15 ET     S&P Index 50-day MA: 5526; 100-day MA: 5461; 150-day MA: 5351; 200-day MA: 5223 DJIA 50-day MA: 40,725; 100-day MA: 39,991; 150-day MA: 39,573; 200-day MA: 39,151 (Green is positive slope; Red is negative slope)   S&P 500 Index (5722.26 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 and MACD are positive – a close below 5342.47 triggers a sell signal Daily: Trender and MACD are positive – a close below 5586.22 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5705.43 triggers a sell signal   3 Takeaways from Kamala Harris’s Interview on MSNBC – NYT (Slams Harris) The vice president repeatedly dodged direct questions and stuck firmly on message… She largely avoided direct questions about how she would govern…     Harris had roundabout answers to open-ended questions…     She avoided a looming scenario: What if Democrats lose the Senate?…    A hard-hitting Harris interview is still yet to come…     It’s not quite clear what Ms. Harris gained, aside from giving her campaign aides the ability to say she held a one-on-one cable television interview… Last week, Ms. Ruhle openly showed her preference for Ms. Harris over Mr. Trump… Which is perhaps why Ms. Harris agreed to the interview in the first place. https://www.nytimes.com/2024/09/25/us/politics/kamala-harris-msnbc-interview-takeaways.html   Kamala Harris is stumped by question about crucial part of her economic policy during MSNBC interview  https://www.dailymail.co.uk/news/article-13892517/Kamala-Harris-stumped-question-crucial-economic-policy-MSNBC-interview.html   Harris offers more detail on her price-gouging ban… in an 82-page economic policy paper that her 2024 campaign released Wednesday… The paper, titled “A New Way Forward for the Middle Class,” says that Harris will “call on Congress to pass the first-ever federal ban on price gouging.”… https://www.axios.com/2024/09/26/harris-price-gouging-ban-economic-plan   What do we know about Kamala Harris’ economic plans on taxes, housing, manufacturing? Harris on Wednesday pledged new tax credits to spur more domestic manufacturing and to invest in sectors that will “define the next century,” including biomanufacturing, aerospace, artificial intelligence, quantum computing and blockchain, advanced nuclear power, and batteries… She has quietly endorsed most of the nearly $5 trillion in tax hikes over a decade in Biden’s fiscal 2025 budget proposal, which would boost the top income tax rate to 39.6% from 37%… https://www.reuters.com/world/us/kamala-harris-economic-plans-taxes-childcare-housing-2024-09-25/   @ByronYork: On MSNBC last night, Kamala Harris was asked about her ability to make a ‘gut decision.’ Could she give an example? The example she gave: Tim Walz. https://t.co/uOCmDr0hTQ   @StephenM: The body language here is devastating. Repeatedly shaking her (Harris) head no to the question “can we trust you?”  https://x.com/StephenM/status/1839362832267399563?t=zg0g6WBuU2b2RUVQpx_tGA&s=03   Kamala Harris roasted for latest ‘word salad’ during softball MSNBC interview https://trib.al/uPIKtAC   @TrumpWarRoom: GOP Sen. @TTuberville: “Kamala is the worst candidate… She’s the one they wanted because they can control her.”   https://x.com/TrumpWarRoom/status/1839331697567162659   Harris used Zelensky (joint presser at WH) to make an unseemly campaign speech that slammed Trump over Ukraine.  She then quickly fled as reporters peppered her with questions that she ignored.   @joeygarrison: VP Harris to Zelenskyy: “I share with you, Mr. President: There are some in my country who would instead force Ukraine to give up large parts of its sovereign territory, who would demand that Ukraine accept neutrality, and would require Ukraine to forego security relationships.  These proposals are the same as those of Putin. And let us be clear: They are not proposals for peace. Instead, they are proposals for surrender, which is dangerous and unacceptable.”   @TheChiefNerd: MARK CUBAN: “The mainstream media is not who you think it is. The mainstream media truly leans right.”  https://x.com/TheChiefNerd/status/1839303415807226298      @ianmSC: At this point it’s hard to tell if Mark Cuban is really this dumb or if he’s putting on an elaborate, months long period of performance art   @CollinRugg: Billionaire Mark Cuban, who has suddenly become Kamala Harris’ biggest spokesperson, says he wants to be head of the SEC. Cuban on Fox: I want to be head of the SEC.  Cuban on CNN: Trump is a socialist. (Because DJT wants to cap credit card rates) Cuban on MSNBC: The future of our country militarily, economically is driven by technology that Kamala understands. https://x.com/CollinRugg/status/1839060454401827154       @elonmusk: Mark Cuban is proof that morons can become billionaires   Far-Left Blogger Publishes Iranian-Hacked Dossier on J.D. Vance, Doxing His Social Security Number, Physical Addresses, Cell Numbers, and E-Mails.  https://t.co/qFsc5KN3X3   @KanekoaTheGreat: X suspended Ken Klippenstein after he shared the Iranian-hacked dossier on J.D. Vance, which doxed his home addresses, phone numbers, emails, and social security number.   London mayor urges Americans against re-electing Trump London Mayor Sadiq Khan reignites public feud with Trump https://www.foxnews.com/world/london-mayor-urges-americans-against-re-electing-trump   NYC Mayor Eric Adams indicted on 5 federal public corruption charges, including bribery and wire fraud  https://www.cnn.com/2024/09/25/us/new-york-city-mayor-eric-adams-indicted/index.html   @paulsperry_: According to just-unsealed federal indictment, NYC Mayor Adams placed several Turkish agents in various positions inside his administration in exchange for tens of thousands of dollars in bribes from the radical Muslim Brotherhood-tied Turkish government. (What about the Bidens & Clintons?)   @EndWokeness: Trump on the Eric Adams indictment: “A year ago, he came out very strongly against migrants… I knew he would be indicted within the year.”  https://x.com/EndWokeness/status/1839419072284336580   @omriceren: Biden-Harris on Lebanon is just wild. Hezbollah has been attacking Israel and displacing Israelis for a year. Israel took the fight to Hezbollah and the Biden-Harris statement LITERALLY BEGINS that now “It is time for a settlement… to enable civilians to return to their homes.”   Harvard medical student ate 720 eggs in a month, then shared the ‘fascinating’ results Nick Norwitz, a Harvard medical student, ate 24 eggs every day of the month as a metabolic experiment     At the end of the month, the Boston man found that his cholesterol levels had dipped by 20%… https://www.foxnews.com/health/harvard-medical-student-ate-720-eggs-month-shared-fascinating-results   @TheBabylonBee: After Being Asked Where His Brother Is, Cain Explains to God That He Grew Up in a Middle-Class Family.

GREG HUNTER

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