GOLD PRICE CLOSED UP $14.50 TO $2622.40
SILVER PRICE UP $0.58 TO $31.01
Gold ACCESS CLOSED $2608.10
Silver ACCESS CLOSED: $30.49
Bitcoin morning price:$61,015 DOWN 55 DOLLARS.
Bitcoin: afternoon price: $59,356 DOWN 1714 DOLLARS
Platinum price closing UP $16.40 TO $968.90
Palladium price; UP 31.00 TO $1072.10
END
*CANADIAN GOLD: $3613.43 UP 37.33 CDN dollars per oz( * NEW ALL TIME HIGH 3,613.43 CDN DOLLARS PER OZ//OCT 10 2024)
*BRITISH GOLD: 2013.54 UP 17.37 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2024.20 BRITISH POUNDS/OZ) OCT 3/2024
*EURO GOLD: 2,404.89 UP 21.15 Euros per oz //* (ALL TIME CLOSING HIGH: 2.414.44 EUROS PER OZ//OCT 4 //.2024)
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END
EXCHANGE
EXCHANGE: COMEX
CONTRACT: OCTOBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,606.000000000 USD
INTENT DATE: 10/09/2024 DELIVERY DATE: 10/11/2024
FIRM ORG FIRM NAME ISSUED STOPPED
190 H BMO CAPITAL 27
661 C JP MORGAN 22
737 C ADVANTAGE 5
TOTAL: 27 27
JPMorgan stopped 0/27
GOLD: NUMBER OF NOTICES FILED FOR OCT/2024. CONTRACT: 27 NOTICES FOR 2700 OZ or 0-.0838 TONNES
total notices so far: 12,008 contracts for 1,200,800 Oz (37.349 tonnes)
FOR OCT
SILVER NOTICES: 1 NOTICE(S) FILED FOR 5,000 OZ/
total number of notices filed so far this month : 1289 for 6.4450 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 UP $14.50 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD:
/ /INVENTORY RESTS AT 876,26 TONNES
INVENTORY RESTS AT 876.26 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER UP $0.58 AT THE SLV
NO CHANGES IN SILVER INVENTORY INTO THE SLV:
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 471.432 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUMONGOUS SIZED 2288 CONTRACTS TO 140,551 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS STRONG LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR GAIN OF $0.07 IN SILVER PRICING AT THE COMEX ON WEDNESDAY’S TRADING. WE HAD A HUMONGOUS LOSS OF 2088 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE THE GAIN IN PRICE. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS. //. WE HAD SOME SHORT COVERING BY OUR SPECS WITH THE LOWER PRICE DURING THE COMEX TIME ZONE.. WE HAD A SMALL 200 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A HUMONGOUS 805 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING. IN ESSENCE WE LOST A HUGE 1915 CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR GAIN IN PRICE BUT THAT NUMBER OF LOST CONTRACTS IS MAGNIFIED BY OUR TAS LIQUIDATION TRADING BY OUR ILLUSTRIOUS FRBNY CROOKS.
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 ON LAST FRIDAY AND AGAIN THIS WEEK. 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 WEDNESDAY NIGHT: A HUGE 805 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 7 CENTS BUT WERE SUCCESSFUL IN KNOCKING SOME NET SILVER LONGS FROM THEIR PERCH AS WE HAVE A HUGE LOSS OF 2088 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES
WE HAD A SMALL 200 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.355 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY;S 5,000 OZ QUEUE JUMP//NEW TOTAL 6.450 MILLION OZ
//NEW STANDING FOR SILVER//OCT AT 6.450 MILLION OZ
WE HAD:
/ HUMONGOUS SIZED COMEX OI LOSS//SMALL SIZED EFP ISSUANCE/ VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 805 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED XXX CONTRACTS.
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS OCT. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF OCT
TOTAL CONTRACTS for 8 DAYS, total 5611 contracts: OR 28.055 MILLION OZ (701 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 28.055 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: 112.415 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE
OCT; 28.055 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH)
RESULT: WE HAD A HUMONGOUS SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2288 CONTRACTS DESPITE OUR $0.07 GAIN IN PRICE OF SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 200 ISSUED FOR DEC 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 OCT OF 5.355 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 5,000 OZ
//NEW TOTAL STANDING FOR OCT AT 6.450 MILLION OZ
WE HAVE A HUGE LOSS OF 2088 OI CONTRACTS ON THE TWO EXCHANGES DESPITE OUR GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 805 CONTRACTS (USED FOR YESTERDAY’S RAID),//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION.
/ SOME MINOR SHORT COVERING FROM OUR SPEC SHORTS WITH THE GAIN IN PRICE WEDNESDAY/ . ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.
THE NEW TAS ISSUANCE WEDNESDAY NIGHT (850) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND LATELY ON A DAILY BASIS INCLUDING TODAY.
WE HAD 1 NOTICE(S) FILED TODAY FOR 5,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 1520 OI CONTRACTS TO 521,960 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 124 CONTRACTS//
WE HAD A FAIR SIZED INCREASE IN COMEX OI (1520 CONTRACTS) OCCURRED WITH OUR LOSS OF $8.50 IN PRICE /WEDNESDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 33.655 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUGE 12,500 OZ QUEUE JUMP
NEW STANDING ADVANCES TO 37.891TONNES+ 20.174 TONNES EXCHANGE FOR RISK/PRIOR// = 58.065 TONNES
/ ALL OF THIS HAPPENED DESPITE OUR $8.50 LOSS IN PRICE WITH RESPECT TO WEDNESDAY’S COMEX TRADING///. WE HAD A FAIR SIZED GAIN OF 3317 OI CONTRACTS (10.317 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 LAST THURSDAY MORNING AND THIS CONTINUED ON FRIDAY, MONDAY AND YESTERDAY WITH THE TENDERING FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE! YOU CAN VISUALIZE THIS WITH THE HUGE QUEUE JUMPING WE ARE WITNESSING DAILY.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 1797 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 521,836
IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3317 CONTRACTS WITH 1520 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 1797 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3317 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED 1733 CONTRACTS, WE HAD CONSIDERABLE LIQUIDATION OF T.A.S CONTRACTS WITH OUR LOSS IN PRICE YESTERDAY.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1797 CONTRACTS) ACCOMPANYING THE FAIR SIZED INCREASE IN COMEX OI OF 1,520 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3317 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 OCT 33.651 TONNES FOLLOWED BY TODAY’S 12,500 OZ QUEUE JUMP
//NEW STANDING ADVANCES TO TO: /OCT 37.8914 TONNES. + 20.174 EX, FOR RISK/PRIOR = 58.065 TONNES
/ 3) HUGE T.A.S. LIQUIDATION WITH ZERO NET LONG SPECS BEING CLIPPED,
4) FAIR SIZED COMEX OPEN INTEREST INCREASE 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///STRONG T.A.S. ISSUANCE: 1733 T.A.S.CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
OCT
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF OCT :
TOTAL EFP CONTRACTS ISSUED: 29,558 CONTRACTS OF 2,955,800 OZ OR 91.95 TONNES IN 8 TRADING DAY(S) AND THUS AVERAGING: 3695 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 8 TRADING DAY(S) IN TONNES 91.95 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 91.95 DIVIDED BY 3550 x 100% TONNES = 2.59% 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: 335 .104 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.
OCT. 91.95 TONNES (THIS WILL BE A WEAKER ISSUANCE THIS MONTH)
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPTEMBER. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A HUMONGOUS SIZED 2288 CONTRACTS OI TO 140,551 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 ISSUANCE 200 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 200 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 200 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 2288 CONTRACTS AND ADD TO THE 200 E.FP. ISSUED
WE OBTAIN A HUMONGOUS SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2088 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 10,440 MILLION OZ OCCURRED DESPITE OUR $0.07 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//
THURSDAY MORNING WEDNESDAY NIGHT
ASIA TRADING/THURSDAY MORNING/WEDNESDAY NIGHT
SHANGHAI CLOSED UP 43.07 PTS OR 1.32%
//Hang Seng CLOSED UP 614.74 PTS OR 2.98%
// Nikkei CLOSED UP 102.93 PTS OR 0.26%//Australia’s all ordinaries CLOSED UP 0.50%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.0766 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.0896 Oil UP TO 74.34dollars per barrel for WTI and BRENT UP AT 77.56 Stocks in Europe OPENED ALL RED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 1520 CONTRACTS TO 521,960 DESPITE OUR CONSIDERABLE LOSS IN PRICE OF $8.50 WITH RESPECT TO WEDNESDAY’S TRADING/RAID. WE LOST ZERO IN NUMBER LONGS DESPITE THE LOWER PRICE FOR GOLD AS YOU WILL SEE BELOW. WE HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1797). AND THINGS MUST BE DESPERATE AS ON LAST TUESDAY, OCT 2, WE HAD THE FIRST ISSUANCE IN OVER 3 MONTHS FOR THAT STUPID EXCHANGE FOR RISK, WHEREBY THE BUYER ASSUMES THE RISK FOR DELIVERY. WHY ON EARTH WOULD A BUYER ASSUME SOMETHING LIKE THIS WHEN YOU ARE GUARANTEED DELIVERY VIA AN EXCHANGE FOR PHYSICAL VIA LONDON? UNLESS FOR HUGE MONEY! TODAY WE REVERTED BACK TO ZERO ISSUANCE OF EXCHANGE FOR RISK. THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THIS MONTH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY LAST WEEK AS A MAJOR BUYER OF PHYSICAL (THE CHINESE) WERE OFF DUE TO GOLDEN WEEK AND CONTINUES ON THIS WEEK DESPITE THEIR PRESENCE.
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 OCT 22 -24 2024/. 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. THESE PAST TWO MONTHS. THEY ARE TOTALLY TRAPPED. THUS THE REASON FOR THE CONTINUAL RAIDING OF OUR GOLD BUT THEIR FAILURE TO STOP CENTRAL BANK PURCHASES OF PHYSICAL GOLD.
OUR PHYSICAL LONDONERS BOUGHT NEW MASSIVE QUANTITIES OF LONGS AT THESE LOWER 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 HUGE T.A.S. LIQUIDATION WITH WEDNESDAY’S LOSS IN PRICE BUT AGAIN AS WITH WEDNESDAY’S TRADING, ZERO LONGS BEING CLIPPED (AS YOU WILL SEE BELOW) BUT WE DID HAVE MINOR SHORT PAPER GOLD COVERING AT LOWER 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 BUT THAT DOES NOT STOP LONDON’S ACCUMULATION OF PHYSICAL!
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW ENTERING INTO THE ACTIVE DELIVERY MONTH OF OCT.… THE CME REPORTS THAT THE BANKERS ISSUED A HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A STRONG SIZED 1797 EFP CONTRACTS WERE ISSUED: : /DEC 1797 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1797 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD DELIVERED COMES FROM LONDON.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 3317 CONTRACTS IN THAT 1797 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR GAIN OF 1644 COMEX CONTRACTS..AND THIS FAIR GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $8.50 WEDNESDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT, A STRONG SIZED 1733 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 RAIDS.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: OCT (58.065 TONNES) WHICH IS HUGE FOR OUR OCT DELIVERY MONTH.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 46 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.
OCT 37,891TONNES + 20.174 TONNES EXCHANGE FOR RISK =58.065 TONNES
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $8.50/)//BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A FAIR SIZED GAIN IN OUR TWO EXCHANGES. WE DID HAVE CONSIDERABLE T.A.S. SPREADER LIQUIDATION WEDNESDAY. CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL TUESDAY EVENING.
WE HAVE GAINED A TOTAL OF 10.317 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR OCT (33.651TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S GIGANTIC 12,500 OZ QUE JUMP………………..
//NEW STANDING FOR OCT 37,891TONNES.+ 20.174 TONNES (EXCHANGE FOR RISK)
NEW STANDING FOR OCT 37.891 TONNES + 20.174 TONNES EXCHANGE FOR RISK= 58.065 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $8.50???
WE HAD 124 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.
NET GAIN ON THE TWO EXCHANGES 3317 CONTRACTS OR 331,700 OZ (10.317 TONNES)
confirmed volume WEDNESDAY 154,924 contracts poor
//speculators have left the gold arena
END
OCT 10 OCT GOLD CONTRACT
/ /// THE OCT 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 204.23 OZ asahi . |
| Deposit to the Dealer Inventory in oz | NIL |
| Deposits to the Customer Inventory, in oz | nil oz |
| No of oz served (contracts) today | 27 notice(s) 2700 OZ 0.0839TONNES |
| No of oz to be served (notices) | 177 contracts 17700 OZ 0.51500 TONNES |
| Total monthly oz gold served (contracts) so far this month | 12,008 notices 1,200,800oz 37.349TONNES |
| 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 |
dealer deposits:0
total dealer deposits: nil oz
we have 0 customer deposits
total deposits 0 oz
withdrawals: 1
i) out of ASAHI 204.23 oz
TOTAL WITHDRAWALS: 204.23 ozoz
adjustments: 1 Loomis
dealer to customer 482,265 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.
For the front month of OCT: we have an oi of 204 contracts having LOST 304 contracts.
We had 429 contracts filed on Wednesday so we GAINED a whopping 125 contracts on our two exchanges or 125 CONTRACTS underwent a huge 12,500 oz queue jump. This is central bank action grabbing all the physical they can.
NOVEMBER GAINED 165 CONTRACTS TO STAND AT 1441
DECEMBER, THE BIGGEST DELIVERY MONTH LOST 542 CONTRACTS TO 434,395
We had 27 contracts filed for today representing 2700 oz
This is a huge 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 22 notices 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 OCT /2024. contract month, we take the total number of notices filed so far for the month (12,008x 100 oz ) to which we add the difference between the open interest for the front month of OCT(204 CONTRACTS) minus the number of notices served upon today (27 x 100 oz per contract( equals 1,218,200 OZ OR 38.074 TONNES. TO WHICH WE ADD THAT STUPID 20.174 TONNES OF EXCHANGE FOR RISK, NEW TOTAL = 58.065 TONNES (CORRECTED FROM YESTERDAY)
thus the INITIAL standings for gold for the OCTOBER contract month: No of notices filed so far (12008 x 100 oz +we add the difference for front month of OCT (204 OI} minus the number of notices served upon today (27 x 100 oz which equals 1,218,200 oz (37.891 TONNES + 20.174 EX. FOR RISK DELIVERY = 58.065 TONNES(CORRECTED FROM YESTERDAY)
TOTAL COMEX GOLD STANDING FOR OCT.: 58.065 TONNES WHICH IS HUGE FOR THIS NON ACTIVE DELIVERY MONTH IN THE CALENDAR.
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COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 1,695,138.428 oz 52.725 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,048,313.722 OZ
TOTAL REGISTERED GOLD 7,827,724.010/// 243,47tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,220,385.482 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,132,586 oz (REG GOLD- PLEDGED GOLD)= 190.749tonnes //
END
SILVER/COMEX
OCT 10 2024
INITIAL
//2024// THE OCT 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 909,254.082 oz CNT ASAHI . |
| Deposits to the Dealer Inventory | nil oz |
| Deposits to the Customer Inventory | NIL |
| No of oz served today (contracts) | 1 CONTRACT(S) (5,000 OZ) |
| No of oz to be served (notices) | 1 contracts (5,000oz) |
| Total monthly oz silver served (contracts) | 1289Contracts (6.4450 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 2 withdrawals
i) out of CNT 873,917.802 oz
ii) Out of ASAHI 35,336.280 oz
total withdrawal 909,254.082 oz
JPMorgan has a total silver weight: 134.996million oz/306.023million or 44.41%
adjustment 0
TOTAL REGISTERED SILVER: 70.864MILLION OZ//.TOTAL REG + ELIGIBLE. 306.023million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR OCT
silver open interest data:
FRONT MONTH OF OCT /2024 OI: 3 OPEN INTEREST FOR A LOST 15 CONTRACTS
WE HAD 16 CONTRACTS SERVED ON WEDNESDAY SO WE GAINED 1 CONTRACTS OR WE ENTERTAINED A 5,000 OZ QUEUE JUMP
NOVEMBER SAW A LOSS OF 17 CONTRACTS TO STAND AT 667
DECEMBER SAW A LOSS OF 2330 CONTRACTS DOWN TO 117,696 CONTRACTS
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 1 for 5,000 oz
CONFIRMED volume; ON WEDNESDAY 55,966 good
To calculate the number of silver ounces that will stand for delivery in OCT we take the total number of notices filed for the month so far at 1289x 5,000 oz = 6.445 MILLION oz
to which we add the difference between the open interest for the front month of OCT (2) and the number of notices served upon today (1)x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the OCT2024 contract month: 1289 Notices served so far) x 5000 oz + OI for the front month of OCT(2) number of notices served upon today minus (1)x 5000 oz of silver standing for the OCT contract month equates to 6.450 MILLION OZ.
New total standing: 6.450 million oz.
There are 70.864 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
OCT 10 WITH GOLD UP $14.50 ON THE DAY; NO CHANGES IN GOLD AT THE GLD; // . // .///INVENTORY RESTS AT 876.26 TONNES
OCT 9 WITH GOLD DOWN $8.50 ON THE DAY; NO CHANGES IN GOLD AT THE GLD; // . // .///INVENTORY RESTS AT 876.26 TONNES
OCT 8 WITH GOLD DOWN $28,.95 ON THE DAY; NO CHANGES IN GOLD AT THE GLD; // . // .///INVENTORY RESTS AT 876.26 TONNES
OCT 7 WITH GOLD DOWN $1.85 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD; A WITHDRAWAL OF 1.15 TONNES OF GOLD OUT OF THE GLD// . // .///INVENTORY RESTS AT 876.26 TONNES
OCT 4 WITH GOLD DOWN $11.20 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD; A DEPOSIT OF 12.57 TONNES OF GOLD INTO THE GLD// . // .///INVENTORY RESTS AT 877.41 TONNES
OCT 3 WITH GOLD DOWN $8.95 ON THE DAY; NO CHANGES IN GOLD AT THE GLD; . // .///INVENTORY RESTS AT 874.82 TONNES
OCT 2WITH GOLD DOWN $20.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD; A DEPOSIT OF 2.88 TONNES OF GOLD INOT THE GLD. // .///INVENTORY RESTS AT 874.82 TONNES
OCT 1 WITH GOLD UP $28,55 ON THE DAY; NO CHANGES IN GOLD AT THE GLD; // .///INVENTORY RESTS AT 871.94 TONNES
SEPT 30 WITH GOLD DOWN $6.50 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD; A WITHDRAWAL OF 5.18 TONNES OF GOLD FROM THE GLD// .///INVENTORY RESTS AT 871.94 TONNES
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
GLD INVENTORY: 876,26 TONNES, TONIGHTS TOTAL
SILVER
OCT 10 WITH SILVER UP 58 CENTS : NO CHANGES IN SILVER INVENTORY AT THE SLV //INVENTORY AT SLV RESTS AT 471.432 MILLION OZ
OCT 9 WITH SILVER UP 7 CENTS : HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.964 MILLION OZ FORM THE SLV..: /INVENTORY AT SLV RESTS AT 471.432 MILLION OZ
OCT 8 WITH SILVER DOWN $1.41 : HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.007 MILLION OZ FORM THE SLV..: /INVENTORY AT SLV RESTS AT 468.468 MILLION OZ
OCT 7 WITH SILVER DOWN 39 CENTS : HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 684,000 OZ FORM THE SLV..: /INVENTORY AT SLV RESTS AT 466.461 MILLION OZ
OCT 4 WITH SILVER UP 0 CENTS : NO CHANGES IN SILVER INVENTORY AT THE SLV.: /INVENTORY AT SLV RESTS AT 465.777MILLION OZ
OCT 3WITH SILVER UP 69 CENTS :HUGE CHANGES IN SILVER INVENTORY A WITHDRAWAL OF 1.643 MILLION OZ FORM THE SLV//.: /INVENTORY AT SLV RESTS AT 467.555MILLION OZ
OCT 2WITH SILVER DOWN $0.23 : NO CHANGES IN SILVER INVENTORY: /INVENTORY AT SLV RESTS AT 469.198MILLION OZ
OCT 1 WITH SILVER UP $0.30 : HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 1.368 MILLION OZ INTO THE SLV/. /: .///./// /INVENTORY AT SLV 469.198MILLION OZ
SEPT30 WITH SILVER DOWN $0.33 : HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 1.094 MILLION OZ INTO THE SLV/. /: .///./// /INVENTORY AT SLV 470.566MILLION OZ
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/ NO CHANGES 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
CLOSING INVENTORY 471.432MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY//BILL HOLTER:
Thoughts on the BRICS summit at Kazan
Will the Sino-Russian partnership introduce gold backing for a trade settlement currency, replacing the dollar? And what would be the consequences for the dollar?
| Alasdair MacleodOct 10∙Paid |
The annual BRICS summit in Kazan is rapidly approaching. Among the issues likely to be on the agenda are a proposal to create a new class of associate membership to manage the rapid expansion of BRICS with some forty nations now seeking to join. Furthermore, there is the thorny question of how to do away with the dollar for cross-border trade settlement, over which there has been disagreement among existing members.
Introduction
The BRICS summit in Kazan comes at a very tricky time. Russia may be winning its special operation in Eastern Ukraine, and so NATO led by the US either goes for broke with an all-out war against Russia or seek a face-saving de-escalation. The likelihood is de-escalation and to seek another conflict.
At only a year old the Middle East conflict is just starting, and not only is the US backing Israel but Russia is backing Iran. It is turning rapidly into another proxy war, potentially far more serious than Ukraine. This is because Israel has triggered a fight which without US support will lead not only to its likely defeat but the end of its existence as a nation.
We can be sure that the Americans will be increasingly wanting to call the shots, as much if not more than the Israelis particularly with respect to Iran. They don’t do anything abroad without taking control. Equally, the restraint initially shown by Iran can be partly explained by Russia’s influence. And while Iran appears to be more independent from its backer than Israel, it is still a US objective to defeat Russia. This is the turbulent background to the BRICS summit in Kazan later this month.
Most nations expressing an interest in joining BRICS are wary of upsetting the powerful Americans, only coming out openly because there is safety in numbers, and perhaps a perception that America is losing its grip on world affairs. Some of these nations are Muslim or have large Muslim populations and are appalled at the killing of civilians in Gaza and America’s unwavering support for Israel. Some of them owe dollars and some would have feared American-backed regime changes in their own countries. Nonetheless, it’s reported that some 40 nations have expressed interest in joining with many more observing on the sidelines.
This brings with it the practical problems of integration. At the Johannesburg summit last year, a partner-country or associate membership model was discussed as the basis for future expansion. Out of a list now comprising some 40 nations, last June Russia asked current members for their ten preferences. But since then, thinking about the numbers to be accommodated might have evolved.
Perhaps a case could be made for taking in more than ten nations as partner-countries to ram the point home to the Americans that they have lost their grip on world affairs.
The BRICS structure requires unanimity of the summit agenda and is obviously unsuitable for a much-expanded membership, which is why the partner-country model makes sense. These additions would offer the benefits of membership without a voting veto.
Currency issues
Perhaps the most important issue is how to reduce dependency on the dollar for payments. This issue is central to the entire SCO/BRICS project. An alternative currency will be required, which to succeed must be more attractive than the dollar. Using BRICS member currencies in some sort of basket with or without a gold element will almost certainly fail to displace the ubiquitous dollar. In addition, there must be a reliable payments system free from Western (i.e. American) interference. As well as Russian and Chinese payment systems designed to circumvent US restrictions, the BRICS membership has been working on BRICS PAY since 2018. This is intended to operate as a digital payments platform. But frankly, in six years it is still in planning trying to meld CBDCs, digitisation, and tokenised money together with payments in local currencies. The project is overly complicated, when all that’s required is an interbank messaging system and currency to replace the dollar.
Why replace the dollar? Apart from geopolitics, there is now the issue of the dollar’s own future not just as a fiat currency, but as the intermediate step between exchanges in other currencies. We can be sure that the PBOC, Bank of Russia and many other central banks share these concerns evidenced by their selling down dollar reserves in preference for gold. And if they acknowledge by their actions that gold is the safe haven from an increasingly unstable fiat currency system, then they surely understand that the trade settlement solution can only be with a gold-backed currency.
According to Pepe Escobar, this is increasingly seen as the solution. This is what he wrote, almost as an afterthought in an article for Strategic Culture Foundation on 29 September:
“A daring proposition is emerging that Russia and China – the actual BRICS leaders – should announce at the summit in Kazan next month that they are backing a yuan/ruble/gold alliance: as in if the world needs to choose between NATOstan hegemony or a BRICS alternative, better start with sound (real) money.”
We cannot judge the quality of Escobar’s source. But giving it credibility it was published by Strategic Culture Foundation, a think-tank in Moscow regarded as an arm of Russian state interests on the US Treasury sanctions list. To cut to the chase, it is obvious that this is the solution, and the rest is mere noise.
The consequences of a new gold standard
Assuming Escobar’s information is correct and that the Russian state has effectively sanctioned his article, it seems that China which has been dragging her feet over this issue is finally persuaded by Russia’s position. Russia was looking to introduce the topic of a gold-backed trade settlement currency onto the Johannesburg agenda last year, but it never made the cut. Bringing gold back into the monetary system is clearly in Russia’s economic interests and against those of her principal adversary in war. It is only a matter of time, if only for defensive reasons to protect their own currencies, that China and Russia must activate gold standards.
Challenging the dollar with gold-backed currencies is also a highly aggressive move. Instead, a gold-backed BRICS trade settlement facility might be a Trojan horse, only an indirect threat to the West’s currency and financial system. Initially gold backing would be restricted to credit used for trade settlement between BRICS and SCO members and associates, should they choose to do so. Deposit rates would have to be high enough to ensure that balances are maintained and not encashed for gold. But the full power of Chinese and Russian gold reserves, both official and off-balance sheet, may then be called upon.
Inevitably, this Trojan horse would become a two-step reintroduction of gold standards, eventually being extended to backing for domestic yuan in China’s case. Russia might be advised not to make this distinction and back her rouble from the outset. It would however be a major step, calling time on the post-Bretton Woods era of fiat currencies.
The reasons justifying such a precipitous move must surely be related to America’s growing belligerence threatening to spiral out of control. While the western alliance might concede Ukraine, for America Israel is more particular and it is far harder to see how an all-out conflict with devastating economic consequences can be avoided.
Therefore, the time may have come to both destroy America’s dollar thereby emasculating her military power, and to protect the yuan and rouble from the fall-out.
China is probably persuaded that this course of action is now inevitable. She has always preferred a more patient evolutionary approach to outright confrontation. Her export markets would be threatened by a fiat currency crisis at a time when there is already declining demand growth in western markets. And as western analysts continuously inform us, China’s economy requires support, not destruction. But we know that China’s leadership is less persuaded by these Keynesian solutions.
Furthermore, China’s long-term plan was always to switch from her dependency on ephemeral demand in western markets to developing an Asia-wide industrial revolution, such as the West enjoyed under sound money standards before the First World War. Assembling BRICS would ensure that China, with Russia in tow, would have access to all the resources necessary, with zero dependence on the bankrupt West.
The issue, therefore, is whether it is now time to put that plan into action, forced by a combination of growing American aggression in West Asia and the Eastern Pacific, and the bankruptcy of the dollar. We must look for clues at Kazan as to whether the Sino-Russian partnership has decided to take the initiative in this respect or to simply let the global currency situation continue to drift.
3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
Mali says Barrick owes $500 million in taxes and fines, sources tell Reuters
Submitted by admin on Tue, 2024-10-08 19:36 Section: Daily Dispatches
By David Lewis, Giulia Paravicini, and Divya Rajagopal
Reuters
Tuesday, October 8, 2024
Mali’s military government is seeking at least 300 billion African Financial Community (CFA) francs ($512 million) in outstanding taxes and dividends from Barrick Gold, three sources said, a move that is part of a push by the country to collect more revenue from mining companies.
Authorities in Mali last month briefly detained four Malian staff working for Barrick, the world’s second-largest gold miner, and the Canadian company said on Sept. 30 it had agreed with the government to solve existing claims and disputes.
The demands on Barrick follow an audit of mining contracts last year and a subsequent push by Mali to renegotiate existing agreements with mining firms, including Bing2GOLD, Resolute Mining, and Allied Gold, to channel a greater share of revenues into state coffers through a new mining code.
Under the new code — which comes as governments across Africa seek more revenues from their mines producing gold and the critical minerals needed for global energy transition — Malian state and private interests in projects could rise to 35% from 20% now. The law also seeks to slash tax breaks and increase the number of Malians in management roles. …
… For the remainder of the report:
end
China’s Zijin Mining to buy Newmont’s Ghana gold project for $1 billion
Submitted by admin on Wed, 2024-10-09 08:38 Section: Daily Dispatches
By Ayushman Ojha
Reuters
Tuesday, October 8, 2024
China’s Zijin Mining Group will buy the Akyem gold mine project in Ghana from U.S.-based Newmont Corp. for $1 billion, the companies said today.
The sale is a part of Newmont’s ongoing program to divest non-core assets as the company makes a strategic shift to focus on its tier one assets, the U.S. gold producer said.
Newmont is expected to receive cash consideration of $900 million upon the deal’s closure, with a further $100 million upon satisfaction of certain conditions. …
… For the remainder of the report:
end
Dollar won’t fall since the rest of world won’t let it
Submitted by admin on Wed, 2024-10-09 19:08 Section: Daily Dispatches
By Mike Dolan
Reuters
Wednesday, October 9, 2024
LONDON — The dollar just had its best week in two years, showing once again how dangerous it can be to bet against the U.S. currency if the rest of the world just won’t let it drop.
The DXY index, which tracks the dollar against the most widely traded global currencies, surged more than 2% last week — a stunning whiplash, not least for the many speculators who were short on the greenback and waiting for it to swoon.
While the rally was supercharged partly by the blowout U.S. employment report — and related rethink on the Federal Reserve’s interest rate trajectory — the dollar’s rebound was well underway before Friday. The payrolls figures merely put the icing on the cake.
The main catalyst for the renewed dollar strength was the clear signals coming from central banks in Europe and Japan that any efforts by the Fed to up the ante on rate cuts would be matched in kind. …
… For the remainder of the report:
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Sound money movement chalks up seven state legislative victories in 2024
Submitted by admin on Wed, 2024-10-09 19:16 Section: Daily Dispatches
By Jp Cortez
Money Metals Exchange, Eagle, Idaho
Wednesday, January 9, 2024
This year is shaping up to be one of the most legislatively successful in U.S. sound money history.
Money Metals Exchange was instrumental in achieving six new sound money victories, as well as one key defensive win. The upshot is that sound money legislation, carefully crafted and propelled by grassroots enthusiasm, is proving to be both practical and achievable.
The seven legislative successes, coming on the heels of five in 2023, range from new sales tax and income tax exemptions to policies that undermine the Federal Reserve’s problematic monopoly on money. Here’s the rundown. …
… For the remainder of the report:
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4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES:
6 CRYPTOCURRENCY NEWS
END
ASIA TRADING THURSDAY MORNING/WEDNESDAY NIGHT
SHANGHAI CLOSED UP 43.07 PTS OR 1.32%
//Hang Seng CLOSED UP 614.74 PTS OR 2.98%
// Nikkei CLOSED UP 102.93 PTS OR 0.26%//Australia’s all ordinaries CLOSED UP 0.50%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.0766 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.0896 Oil UP TO 74.34dollars per barrel for WTI and BRENT UP AT 77.56 Stocks in Europe OPENED ALL RED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS THURSDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.0766
OFFSHORE YUAN: DOWN TO 7.0896
SHANGHAI CLOSED CLOSED UP 43.07 PTS OR 1.32%
HANG SENG CLOSED CLOSED UP 614.74 PTS OR 2.98%
2. Nikkei closed UP 102.93 POINTS OR 0.26%
3. Europe stocks SO FAR: ALL RED
USA dollar INDEX UP TO 102.68 EURO FALLS TO 1.0937 DOWN 9 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +0.958 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 148.93…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING 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: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and UP FOR DOWN this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.2815 Italian 10 Yr bond yield UP to 3.573 SPAIN 10 YR BOND YIELD UP TO 3.015
3i Greek 10 year bond yield UP TO 3.198
3j Gold at $2613.15 /Silver at: 30.58 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 50/100 roubles/dollar; ROUBLE AT 97.45
3m oil into the 74 dollar handle for WTI and 77 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 148.93 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.958% 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 0.8594 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9397 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: 4.088 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.357 UP 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.033 UP 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 34.21…
10 YR UK BOND YIELD: 4.2835 UP 7 PTS
10 YR CANADA BOND YIELD: 3.290 UP 4 BASIS PTS
5 YR CANADA BOND YIELD: 3.097 UP 0 PTS.
2a New York OPENING REPORT
Futures Dip Ahead Of CPI Report
Thursday, Oct 10, 2024 – 08:19 AM
US equity futures are lower as traders awaited the latest inflation data that will determine if the Fed opts for a slower pace of interest-rate cuts. As of 8:00am, S&P 500 futures are down 0.2% after hitting a record high on Wednesday; Nasdaq futures are down by the same amount with most Mag7 stocks flat; TSLA is leading with a +1.1% pre-market move ahead of its Robotaxi unveil event tonight. Delta Air Lines Inc. kicked off the third-quarter earnings season, with profit and sales forecasts falling short of expectations. JPMorgan Chase & Co. and Wells Fargo & Co. are scheduled to report on Friday. Ten-year Treasury yields held above 4%, near the highest levels since end-July. Bloomberg’s dollar index was steady after an eight-day streak of gains, its longest since April 2022. Commodities are mixed with Oil higher, Base Metals lower, and Precious Metals higher. Today, key macro focus will be CPI, along with AMD (Advancing AI) and TSLA (Robotaxi) events.
In premarket trading, Delta Air Lines fell 5% after management forecast profit and sales that are short of Wall Street’s estimates for the final months of the year, suggesting a slow recovery from a challenging summer travel season. US insurance stocks rallied in premarket trading after Hurricane Milton weakened to a Category 3 storm, and supply-chain services provider GXO Logistics rose on the news of a potential sale. Here are some other premarket movers:
- 10X Genomics (TXG) plunges 26% after the company posted preliminary 3Q revenue that fell short of its expectations, citing hesitant capital spending by customers.
- Domino’s Pizza Inc. (DPZ) slips about 1% after the company trimmed its 2024 projection for sales growth and new locations as slower consumer spending hits the restaurant industry.
- GXO Logistics (GXO) rises 12% as Bloomberg reports the supply-chain services provider is exploring a sale, citing a person familiar with the matter.
- Pfizer (PFE) falls 1% after its former executives Ian Read and Frank D’Amelio decided “not to be involved” in Starboard Value’s activist campaign against the drug company.
US CPI data is expected to show inflation moderating further in September, supporting the view that the Fed will continue easing policy in the coming months. However, as noted in our preview, the surprisingly strong jobs print for last month has forced traders to dial back rate-cut bets, with many expecting a 25-basis-points reduction in November. Meanwhile, CPI “whisper numbers” are higher than consensus and Goldman traders warn that a hotter than expected number would slam stocks (full preview here).
A strong inflation reading could change the reaction function from the Fed, Bénédicte Lowe, a strategist at BNP Paribas Markets 360, said on Bloomberg TV. “Given that equities are near all-time high in the US, close to multi-year highs in Europe, the risks are more skewed to the downside if we get a pick-up in inflation from here,” Lowe said.
Elsewhere, investors will want to see if profits are robust enough to sustain this year’s roughly 20% rally in the S&P 500. Companies in the index are expected to report a 4.7% increase in quarterly earnings from a year ago, according to data compiled by Bloomberg Intelligence, down from the 7.9% growth projected on July 12. Invesco Global Market Strategist Brian Levitt expects companies to surpass the pared-back expectations, keeping the rally going.
“It is a good nominal growth backdrop, investors are sitting there, looking at equity markets saying: all-time highs on the equity market, can I invest?” Levitt told Bloomberg TV. “Peak inflation, peak tightening, peak rates should be good for equities.”
European stocks edged lower ahead of the CPI report; the Stoxx Europe 600 Index was down 0.1% by 11:47 a.m. in London. Technology and mining stocks lagged, while insurers outperformed as analysts said costs related to Hurricane Milton may be less than initially feared. Spanish stocks were also underperformers as utilities firms weighed. The benchmark gave up early gains as investors weighed multiple risks, including the war in Ukraine, escalating tensions in the Middle East and uncertainty over further Chinese stimulus. Investors are also bracing themselves for the third-quarter earnings season. In individual movers, GSK Plc was among the biggest gainers after it said it will pay as much as $2.2 billion to resolve US court cases related to it Zantac medication. Shares in Italy’s BPER Banca SpA jumped after the lender gave new targets for earnings and dividends. Chip stocks including Soitec and BE Semiconductor Industries NV fell after analysts cut price targets ahead of the earnings season.
Earlier in the session, Asian equities rose, helped by a rebound in Chinese shares amid hopes that the country’s finance ministry will announce fresh stimulus during a briefing Saturday. The MSCI AC Asia Pacific Index jumped as much as 1.1%, snapping a two-day decline, as Chinese tech names including Tencent Holdings Ltd. and Meituan advanced. An index of Chinese stocks listed in Hong Kong climbed 3.4% and the onshore CSI 300 Index rose 1.1% in volatile trading. Shares in Japan, South Korea and Australia posted modest gains.
Two key events loom large for investors in the near term. China’s finance ministry briefing this weekend is a key focus, but traders are also awaiting US inflation data due Thursday, which may provide hints on the pace of the Federal Reserve’s interest-rate cuts in the coming months. “It does appear to be a cautious lift filtering through from Wall Street for Asia but ahead of US CPI, caution may rule the roost,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore. He said the mentality among many onshore investors regarding more fiscal stimulus in China is “I’ll believe it when I see.”
In FX, the Bloomberg dollar index traded little changed after rising for eight straight sessions through Wednesday close, its longest winning streak since April 2022. The yen reversed losses after earlier falling to its weakest since early August. USD/JPY slips 0.2% to 149.02; earlier, pair rose to 149.55, a fresh cycle high and strongest since Aug. 2. EUR/USD down 0.1% to 1.0930; GBP/USD little changed at 1.3074. Loonie leads G-10 losses against dollar; USD/CAD up 0.3% to 1.3751, the strongest since Aug. 8
In rates, Treasuries are marginally cheaper across the curve, following wider losses across core European rates. The long-end are cheaper by 1bp-2bp with 10-year around 4.09%, outperforming bunds and gilts in the sector by 1bp and 4bp; curve spreads are slightly steeper on the day, within 1bp of Wednesday’s closing levels. The week’s auctions conclude with $22 billion 30-year reopening, following average results for 3- and 10-year note sales which both tailed. The 30-year bond reopening at 1pm follows 0.4bp tail for Wednesday’s 10-year sale; WI 30-year yield near 4.36% sits ~34bp cheaper than September auction, which tailed by 1.4bp. Ahead of CPI and weekly jobless claims data, Fed swaps price in around 18bp of easing for the November meeting and a combined 42bp over the two remaining meetings this year. Gilts lead a selloff in European government bonds, with UK 10-year yields rising 4 bps to 4.22%. French bonds fall ahead of the budget announcement.
In commodities, oil prices advance after a two-day fall, with WTI climbing 1.4% to $74.30 a barrel and Brent futures strengthened above $77 a barrel, on fear that Israeli retaliation against Iran for its recent missile strikes will trigger all-out war in the Middle East. Spot gold rises $10 to around $2,618/oz.
Looking at today’s data, US economic data calendar includes September CPI and jobless claims (8:30am). Fed speakers scheduled include Cook (9:15am), Barkin (10:30am) and Williams (11am).
Market Snapshot
- S&P 500 futures down 0.1% to 5,833.25
- STOXX Europe 600 down 0.2% to 519.26
- MXAP up 0.6% to 192.35
- MXAPJ up 0.8% to 611.99
- Nikkei up 0.3% to 39,380.89
- Topix up 0.2% to 2,712.67
- Hang Seng Index up 3.0% to 21,251.98
- Shanghai Composite up 1.3% to 3,301.93
- Sensex up 0.3% to 81,675.05
- Australia S&P/ASX 200 up 0.4% to 8,222.98
- Kospi up 0.2% to 2,599.16
- German 10Y yield little changed at 2.27%
- Euro little changed at $1.0934
- Brent Futures up 0.8% to $77.22/bbl
- Gold spot up 0.3% to $2,616.09
- US Dollar Index little changed at 102.92
Top overnight news
- Chinese equities rebound after the PBOC unveiled a liquidity swap facility aimed at bolstering the stock market and investors prepare for the Sat finance minister press briefing. FT
- China proceeds with plans to create a CNY500B swap facility aimed at providing firms with liquidity for stock purchases (this facility is consistent w/plans outlined by the PBOC last month). WSJ
- Four Taiwanese employees at Chinese facilities that make products for Apple have been detained by local authorities, Taiwanese officials said, the latest example of corporate detentions that have hurt business confidence. The employees worked at a complex run by Taiwan’s Foxconn Technology Group in Zhengzhou, China, said Taiwanese agencies responsible for managing relations with China. One of the agencies said the employees were accused of an offense akin to breach of trust, although the exact nature of the allegations couldn’t be determined. WSJ
- Japan’s improving economic conditions and receding U.S. recession worries are likely to bring prospects of a December or January interest rate hike back into view, even as a new government complicates the politics around monetary policy. RTRS
- Donald Trump said he’d end US income taxes on American expats. The pledge, which would require congressional approval, would reduce paperwork and, potentially, the tax bills for the roughly 9 million Americans living overseas. BBG
- Harris sees her poll numbers slip in the critical Rust Belt states according to a new Quinnipiac poll (Harris is up 3 points in PA, but down 3 in MI and down 2 in WI). Quinnipiac
- Alexandria Ocasio-Cortez has warned the Democratic party’s Wall Street donors of an “out and out brawl” if Lina Khan, the antitrust progressive who chairs the Federal Trade Commission, is removed from her post. FT
- BlackRock Inc. is among firms exploring a purchase of HPS Investment Partners, according to people with knowledge of the matter, in a deal that would push the world’s biggest asset manager into the top ranks of the private-credit market. BBG
- In Manhattan, the median rent on new leases fell 3.4% from a year earlier to $4,200, brokerage Douglas Elliman Real Estate and appraiser Miller Samuel Inc. reported Thursday. Prices also slipped in Brooklyn and Queens. Rents in Manhattan have declined gradually in four of the past five months. But the median is still just $200 shy of the record high, reached in summer of 2023, and is 20% more than in September 2019, before the pandemic. BBG
- Fed’s Daly (voter) said she fully supported a half-point rate cut and is quite confident they are on the path to 2% inflation, while she added that they are at full employment and will watch the data, as well as monitor the labour market and inflation. Furthermore, Daly said the size of the September rate cut does not say anything about the pace or size of the next cuts and noted that one or two more cuts this year are likely.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were higher following the record closes on Wall Street despite light macro catalysts as the latest Fed rhetoric and FOMC Minutes did little to spur a reaction, while the attention now shifts to looming US CPI data. ASX 200 mildly gained amid strength in real estate and the mining-related industries with the latter helped by M&A news after Rio Tinto announced a definitive agreement to acquire Arcadium Lithium. Nikkei 225 was underpinned at the open but with gains capped amid quiet newsflow and firmer-than-expected PPI data. Hang Seng and Shanghai Comp rallied with significant outperformance in the Hong Kong benchmark after returning to above the 21,000 level, while the mainland conformed to the broad upbeat mood which also followed the PBoC’s announcement to establish a securities and funds swap facility of CNY 500bln to enhance the internal stability of the capital market.
Top Asian news
- PBoC announced to establish a securities and funds swap facility of CNY 500bln to enhance the internal stability of the capital market, while it started accepting applications from securities firms, funds and insurers to join the swap scheme.
- Fast Retailing (9983 JT) FY (JPY) Op Profit 500.9bln (exp. 478.26bln), Pretax Profit 557.2bln (exp. 546.65bln); sees FY op. income 520bln.
- BoJ Deputy Governor Himino says “We are witnessing record high corporate profits and record high wage increase in Japan”; If the outlook for economic activity and prices presented in July report is achieved, BoJ will accordingly raise interest rates. The policy board is going to look at the totality of the data as it makes decisions meeting by meeting. “We have many real interest rates and they vary significantly but all of them are negative”. Later in the year, “we will have more data on the pass through of wage hikes on prices, and next year’s wage negotiations”. “We will also now more about pass through of YEN – Dollar rate on inflation via import prices”. Course is not pre-set. BoJ will consider adjusting degree of monetary conditions if the board has greater confidence in the outlook. “The data to focus on shifts as it comes in, today US employment and consumption and Chinese consumption may deserve more attention than before”. “We monitor data to detect developments that are not already covered in our risk scenarios, looking at data outside of the priority is equally important”. There is no clear consensus among the board members about future approaches on better communication.
- Japan’s Former FX Diplomat Kanda says heightened FX volatility has a largely adverse impact on Japan
- China’s State Planner publishes draft guidelines on private economy promotion law. Will be improving investment and the financing environment while reducing transaction costs.
- China prelim auto sales September, PCA: +2% Y/Y, +8% M/M. NEV: +51% Y/Y, +9% M/M.
European bourses, Stoxx 600 (-0.2%) began the session on a modestly firmer footing, but as the morning progressed, indices generally edged lower. As it stands, indices are mostly in negative territory and to varying degrees. European sectors hold a negative bias vs initially mixed at the cash open. Healthcare tops the pile, a beneficiary of the significant gains in GSK (+5.4%) after it settled its Zantac litigation case. Tech is found towards the foot of the pile. US Equity Futures (ES -0.2%, NQ -0.2%, RTY -0.1%) are softer across the board, in a slight paring to some of the gains seen in the prior session; traders are also very mindful of the upcoming US CPI result. AMD (+0.2%) will host its AI event and Tesla (+0.8%) is firmer ahead of its Robotaxi event. Huawei smartphone sales within China surpassed Apple’s (AAPL) in August 2024, via CINNO Research; for the first time in almost four-years. Four Taiwanese employees at a Foxconn (2354 TW) run facility in China which makes products for Apple (AAPL) have been detained by local authorities, via WSJ citing Taiwanese officials; said to have been accused of offenses similar to a breach of trust.
Top European news
- Institute for Fiscal Studies sees risk of a large UK tax increase to ease the spending squeeze and said UK Chancellor Reeves may need to announce a GBP 25bln tax rise in her first Budget on October 30th to shore up public services, while the think-tank also noted that past governments have raised taxes sharply after elections.
- Fortum (FORTUM FH) CEO says they have spotted drones and suspicious people around their Finnish energy assets on a monthly basis. Being targeted by cyber attacks.
FX
- Dollar is essentially flat and trading within a very tight 102.83-96 range, with the best for today just shy of Wednesday’s peak. Today’s US CPI release will be the next inflection point for the index.
- EUR is incrementally lower but within recent ranges; today’s low is just beneath its 100 DMA at 1.0933. Today sees the ECB Minutes release for the September meeting, but will likely have little impact on pricing given the developments of survery data and inflation metrics.
- GBP follows peers, and trades within a very tight 1.3063-1.3089 range; the high for today is a little shy of its 50 DMA at 1.3093. UK-specifics light, but focus is on the upcoming UK Budget; think tank IFS, writes that Chancellor Reeves “must find billions more” in time for the Budget.
- JPY is firmer vs the Dollar with USD/JPY trading within a 148.84-149.54 range. The pair saw some downside after BoJ’s Himino said “we are witnessing record high corporate profits and record high wage increase in Japan… if the outlook for economic activity and prices presented in July report is achieved, BoJ will accordingly raise interest rates”.
- The Antipodeans started the European session on a firmer footing and remained as the marginal G10 outperformers throughout the morning; largely a factor of a slight paring of the losses seen in the prior session.
Fixed Income
- USTs are pressured with the FOMC minutes potentially weighing alongside a mixed 10yr auction and concession into the 30yr. Thus far, USTs at a 112-01+ trough, a couple of ticks below Wednesday’s base to a fresh WTD low. US CPI is also on the docket, which is expected to cool slightly from the prior pace.
- Bunds are in the red; the paper saw some brief two-way action on account of German Retail Sales, which was much firmer than expected. Focus for EGBs later in the day will be on the French PM and his Budget/Finance Ministers where they are set to present the budget to other cabinet members.
- Gilts are lagging down to a 96.19 trough which marks a fresh WTD and multi-week low, next point of support potentially at 95.47 from early-July. UK-specific newsflow light ahead of the UK Budget on Oct 30th; Institute for Fiscal Studies report ahead of this cautions that an additional GBP 20bln, or more, could be required to meet the ‘no return to austerity’ pledge.
Commodities
- A firmer session for crude benchmarks. Hurricane Milton made landfall overnight as a Category 3 storm, details on the damage to energy infrastructure light thus far. As for geopols, Guy Elster reported that the Israel security cabinet will be meeting tonight to discuss the potential attack. Brent’Dec currently trading around USD 77.50/bbl.
- Spot gold is firmer and sitting comfortably above the USD 2600/oz mark and extending as high as USD 2617/oz, though the yellow metal has lost a little bit of its shine as the session progresses
- Base metals performed well in APAC trade, bolstered by outperformance in China on the latest support measures. However, this narrative has faded in the European session somewhat with copper now unchanged as the European risk tone tempers.
- Fortum (FORTUM FH) CEO says they have spotted drones and suspicious people around their Finnish energy assets on a monthly basis. Being targeted by cyber attacks.
- UBS says “we forecast Gold to reach USD 2850/oz by mid-2025”.
Geopolitics: Middle East
- “Israel security cabinet will meet this evening to discuss on the planned attack on Iran”, via journalist Elster
- Israel PM Netanyahu will ask the security cabinet to give him and Defence Secretary Galant the mandate to decide on the attack on Iran, according to Israeli press. It was also previously reported that PM Netanyahu asked to understand the American position and get support, according to Israel’s Channel 12.
- Israeli Defence Minister said the attack on Iran will be fatal, accurate and surprising, according to Al Arabiya.
- Israeli and US officials believe that tit-for-tat exchanges of fire will continue between Iran and Israel, even after the Israeli retaliatory strike soon against Iran, according to OSINTDefender on X.
- Israel conducted a new raid on Haret Hreik in the southern suburbs of Beirut and conducted a raid on the heights of the town of Jinta near the Lebanese-Syrian border, while it was also reported that a large force of Israeli soldiers raided the town of Idna, west of Hebron, in the southern West Bank.
- Israeli aggression was reported on Hasiya Industrial City in Syria’s Homs countryside, according to Syrian state TV.
- US warplanes flew over areas controlled by Iranian militias in Deir Ezzor, Syria, according to Sky News Arabia. It was later reported by media loyal to the Syrian regime that there was a bombing believed to be American on the city of Albu Kamal in the countryside of Deir Ezzor, according to Al Jazeera.
Geopolitics: Other
- Ukrainian Presidential Advisor Lytvyn has denied earlier reports in Corriere della Sera that Zelensky would be “willing to accept a ceasefire along the current line – without recognizing a new official border – in exchange for certain Western commitments”.
- Russian ballistic missile strike on port infrastructure in Ukraine’s southern Odesa region killed six people and wounded 11 others on Wednesday, according to AFP News Agency.
- Taiwan President Lai said China has no right to represent Taiwan and he will uphold the commitment to resist annexation or encroachment, while he added that Taiwan is resolved in commitment to upholding peace and stability in the Taiwan Strait and achieving global security and prosperity. Taiwan will become more calm, more confident, and stronger, as well as noted that the determination to defend their national sovereignty remains unchanged.
US Event Calendar
- 08:30: Sept. CPI MoM, est. 0.1%, prior 0.2%
- Sept. CPI YoY, est. 2.3%, prior 2.5%
- Sept. CPI Ex Food and Energy MoM, est. 0.2%, prior 0.3%
- Sept. CPI Ex Food and Energy YoY, est. 3.2%, prior 3.2%
- Sept. Real Avg Hourly Earning YoY, prior 1.3%, revised 1.4%
- Sept. Real Avg Weekly Earnings YoY, prior 0.9%, revised 1.0%
- 08:30: Oct. Initial Jobless Claims, est. 230,000, prior 225,000
- Sept. Continuing Claims, est. 1.83m, prior 1.83m
Central Bank Speakers
- 09:15: Fed’s Cook Speaks on Entrepreneurship
- 10:30: Fed’s Barkin Speaks in Fireside Chat
- 11:00: Fed’s Williams Gives Keynote Remarks
DB’s Jim Reid concludes the overnight wrap
Markets have put in another strong performance over the last 24 hours, as optimism about the near-term economic outlook continues to build. That helped the S&P 500 (+0.71%) to reach its 44th record high this year, whilst US IG spreads closed at their tightest levels since September 2021 as well. That strength means that the S&P 500 is now up +21.43% on a year-to-date basis, meaning that this is its strongest performance at this point of the year since 1997. And in turn, as optimism grew on the economy, investors continued to dial back the likelihood of rapid rate cuts from the Fed, lifting the 10yr Treasury yield (+6.1ps) to its highest level since July, at 4.07%. This backdrop also saw the dollar index (+0.37%) extend its winning run to eight sessions, its longest since April 2022.
Those risk-on moves happened despite the ongoing geopolitical tensions in the Middle East, where attention is still focused on how Israel might respond to Iran’s missile strikes last week. In terms of the latest, Israeli PM Netanyahu spoke with US President Biden yesterday, although the White House readout did not directly mention Israel’s potential retaliation against Iran. According to Bloomberg reporting, the Biden administration is pressing Israel to limit its retaliation to military targets, while Axios reported that Netanyahu will convene Israel’s security cabinet today. In the meantime, oil prices came down for a second day running, with Brent crude falling -0.78% to $76.58/bbl.
Aside from the geopolitical situation, attention today will be on the US CPI release for September, which is coming out at 13:30 London time. This is in particular focus after the strong jobs report last Friday, as there’s been growing speculation that the Fed might not cut at all at their next meeting in November. Indeed, yesterday saw futures lower the chance of a rate cut down to 83%, so the prospect of a hold at the next meeting is increasingly being considered, even if it’s not the base case for investors.
In terms of what to expect, our US economists are forecasting that headline CPI will likely come in at a monthly +0.10% in September. That should bring the year-on-year number down to +2.3%, which would be the lowest since February 2021. Then for core inflation, they see that at a stronger +0.27% for the month, keeping the year-on-year number at +3.2%. Remember as well that tomorrow’s PPI data will also be in focus, as that will give a better idea of some of the categories included in the PCE measure, which is what the Fed officially target. For more info, you can read our economists’ full preview and how to sign up for their subsequent webinar here.
Ahead of the CPI release, investors continued to dial back the likelihood of rapid rate cuts from the Fed, and Treasury yields rose across the curve. For instance, the rate priced in for the December 2025 meeting moved up +6.6bps to 3.425%, the highest since mid-August. So the 2yr Treasury yield was up +6.5bps on the day to 4.02%, and the 10yr yield (+6.1bps) moved up to 4.07%. In part that followed comments from Dallas Fed President Logan, who said that “a more gradual path back to a normal policy stance will likely be appropriate from here”, which also pointed away from a faster pace of cuts.
Later in the session, we then got the FOMC minutes from the September meeting, where the Fed delivered their recent 50bp rate cut. These said that “some participants observed that they would have preferred a 25bp” cut and “a few others indicated that they could have supported such a decision”. So while Fed Governor Bowman was the only dissenting vote in favour of a 25bp cut in the end, the accounts confirm that the 50bp decision saw some pushback within the FOMC.
For equities, it was another strong day, and the S&P 500 (+0.71%) powered forward to another record high. The advance was a broad-based one, and banks put in a particularly strong performance, with the KBW Bank Index (+1.26%) reaching its highest level since June 2022 yesterday. By contrast, the Magnificent 7 (-0.00%) was flat on the day, with Alphabet down -1.53% following the previous day’s news after the close that the US Justice Department was considering the breakup of Google. But in general, it was a strong day, and the VIX index of volatility also came down -0.56pts to 20.86pts by the close. That strength was echoed in Europe too, where the STOXX 600 was up +0.66%.
Elsewhere today, France’s budget for 2025 is being presented this evening. It follows new PM Barnier’s speech last week, in which he said that the target to reach the EU’s deficit limit of 3% of GDP would be delayed by two years to 2029. Ahead of that, the Franco-German 10yr spread remained steady at 77bps, with yields on 10yr bunds and OATs both rising by +1.5bps yesterday.
Overnight in Asia, the risk-on tone has continued, and there’s been a fresh rally in Chinese stocks after the PBOC released details of a 500bn yuan swap facility, which will provide liquidity to institutional investors to buy shares. That’s helped support a sizeable rally, with the CSI 300 (+2.85%) and the Shanghai Comp (+2.95%) both posting a strong advance, and the Hang Seng has seen an even larger gain of +4.22%. Elsewhere in Asia the gains have been more muted by comparison, with the KOSPI up +0.64%, and the Nikkei up +0.21%. In the meantime, US equity futures are basically flat, with those on the S&P 500 down just -0.01%.
Finally, it’s been another light day on the data side, although Japan’s PPI inflation has surpassed expectations overnight, coming in at +2.8% in September (vs. +2.3% expected). Otherwise yesterday, weekly data from the Mortgage Bankers Association data in the US showed the contract rate on a 30yr mortgage was up 22bps to 6.36% over the week ending October 4, which is its biggest weekly jump in over a year. Nevertheless, that still leaves rates well beneath their levels earlier in the year, having been at 7% as recently as early July.
To the day ahead now, and data releases include the US CPI reading for September, along with the weekly initial jobless claims. Meanwhile in Europe, we’ll get German retail sales and Italian industrial production for August. From central banks, we’ll get the account of the ECB’s September meeting, and speakers include the Fed’s Cook, Barkin and Williams.
2B) European report
US futures trade tentatively ahead of US CPI – Newsquawk US Market Open
Thursday, Oct 10, 2024 – 06:15 AM
- European bourses are mostly lower and US futures trade tentatively ahead of US CPI.
- DXY is flat, JPY outperforms following hawkish BoJ Himino commentary.
- USTs are modestly lower potentially pressured by FOMC Minutes/30yr concession; Gilts lag after IFS analysis.
- Crude is firmer, XAU gains and holds comfortably above USD 2600/oz and base metals are mostly in the green.
- Looking ahead, US CPI, Initial Jobless Claims, US Federal Budget, NZ Manufacturing PMI, Chinese M2 Money Supply, ECB Minutes, Tesla Robotaxi Event, AMD AI Event, Speakers including Fed’s Cook, Barkin & Williams, Supply from US, Earnings from Delta.
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EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx 600 (-0.2%) began the session on a modestly firmer footing, but as the morning progressed, indices generally edged lower. As it stands, indices are mostly in negative territory and to varying degrees.
- European sectors hold a negative bias vs initially mixed at the cash open. Healthcare tops the pile, a beneficiary of the significant gains in GSK (+5.4%) after it settled its Zantac litigation case. Tech is found towards the foot of the pile.
- US Equity Futures (ES -0.2%, NQ -0.2%, RTY -0.1%) are softer across the board, in a slight paring to some of the gains seen in the prior session; traders are also very mindful of the upcoming US CPI result. AMD (+0.2%) will host its AI event and Tesla (+0.8%) is firmer ahead of its Robotaxi event.
- Huawei smartphone sales within China surpassed Apple’s (AAPL) in August 2024, via CINNO Research; for the first time in almost four-years.
- Four Taiwanese employees at a Foxconn (2354 TW) run facility in China which makes products for Apple (AAPL) have been detained by local authorities, via WSJ citing Taiwanese officials; said to have been accused of offenses similar to a breach of trust.
- PRIMER – TESLA (TSLA) ROBOTAXI EVENT: Tesla will hold its “Robotaxi Day” today at Warner Brothers Discovery (WBD) studio in Burbank, California. The event is expected to unveil the next-generation Robotaxi with updated AI hardware and version 13 of FSD, aimed for late 2026, along with a second version of Optimus. Truist’s analysts expressed caution regarding the event, stating it is unlikely to serve as a positive catalyst for Tesla shares. (Full primer on Newsquawk)
- PRIMER – AMD (AMD) AI EVENT: AMD is set to showcase new technologies at its 2024 Advancing AI event today, including Instinct GPU accelerators and EPYC server processors. Analysts view this as a potential “catch-up catalyst” for AMD in the AI accelerator market, where it currently holds 5-7% share compared to Nvidia’s (NVDA) over 80%. AMD aims to increase its share of the market to 10% by 2026, potentially generating an additional USD 5bln in sales. (Full primer on Newsquawk)
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
- Click for a detailed summary
FX
- Dollar is essentially flat and trading within a very tight 102.83-96 range, with the best for today just shy of Wednesday’s peak. Today’s US CPI release will be the next inflection point for the index.
- EUR is incrementally lower but within recent ranges; today’s low is just beneath its 100 DMA at 1.0933. Today sees the ECB Minutes release for the September meeting, but will likely have little impact on pricing given the developments of survery data and inflation metrics.
- GBP follows peers, and trades within a very tight 1.3063-1.3089 range; the high for today is a little shy of its 50 DMA at 1.3093. UK-specifics light, but focus is on the upcoming UK Budget; think tank IFS, writes that Chancellor Reeves “must find billions more” in time for the Budget.
- JPY is firmer vs the Dollar with USD/JPY trading within a 148.84-149.54 range. The pair saw some downside after BoJ’s Himino said “we are witnessing record high corporate profits and record high wage increase in Japan… if the outlook for economic activity and prices presented in July report is achieved, BoJ will accordingly raise interest rates”.
- The Antipodeans started the European session on a firmer footing and remained as the marginal G10 outperformers throughout the morning; largely a factor of a slight paring of the losses seen in the prior session.
- Click for a detailed summary
- Click for NY OpEx Details
FIXED INCOME
- USTs are pressured with the FOMC minutes potentially weighing alongside a mixed 10yr auction and concession into the 30yr. Thus far, USTs at a 112-01+ trough, a couple of ticks below Wednesday’s base to a fresh WTD low. US CPI is also on the docket, which is expected to cool slightly from the prior pace.
- Bunds are in the red; the paper saw some brief two-way action on account of German Retail Sales, which was much firmer than expected. Focus for EGBs later in the day will be on the French PM and his Budget/Finance Ministers where they are set to present the budget to other cabinet members.
- Gilts are lagging down to a 96.19 trough which marks a fresh WTD and multi-week low, next point of support potentially at 95.47 from early-July. UK-specific newsflow light ahead of the UK Budget on Oct 30th; Institute for Fiscal Studies report ahead of this cautions that an additional GBP 20bln, or more, could be required to meet the ‘no return to austerity’ pledge.
- Click for a detailed summary
COMMODITIES
- A firmer session for crude benchmarks. Hurricane Milton made landfall overnight as a Category 3 storm, details on the damage to energy infrastructure light thus far. As for geopols, Guy Elster reported that the Israel security cabinet will be meeting tonight to discuss the potential attack. Brent’Dec currently trading around USD 77.50/bbl.
- Spot gold is firmer and sitting comfortably above the USD 2600/oz mark and extending as high as USD 2617/oz, though the yellow metal has lost a little bit of its shine as the session progresses
- Base metals performed well in APAC trade, bolstered by outperformance in China on the latest support measures. However, this narrative has faded in the European session somewhat with copper now unchanged as the European risk tone tempers.
- Fortum (FORTUM FH) CEO says they have spotted drones and suspicious people around their Finnish energy assets on a monthly basis. Being targeted by cyber attacks.
- UBS says “we forecast Gold to reach USD 2850/oz by mid-2025”.
- CEO of Russia’s Gazprom says there is artificial destruction of gas demand on the European gas market.
- Click for a detailed summary
NOTABLE DATA RECAP
- UK RICS Housing Survey (Sep) 11.0 vs. Exp. 4.0 (Prev. 1.0)
- Norwegian Core Inflation YY (Sep) 3.1% vs. Exp. 3.3% (Prev. 3.2%); CPI YY 3.0% vs. Exp. 3.2% (Prev. 2.6%)
- German Retail Sales MM Real (Aug) 1.6% vs. Exp. 0.1% (Prev. -1.2%); YY 2.1% (Prev. -1.7%)
- Italian Industrial Output MM SA (Aug) 0.1% vs. Exp. 0.2% (Prev. -0.9%, Rev. -1.0%); Industrial Output YY WDA (Aug) -3.2% (Prev. -3.3%)
NOTABLE EUROPEAN HEADLINES
- Institute for Fiscal Studies sees risk of a large UK tax increase to ease the spending squeeze and said UK Chancellor Reeves may need to announce a GBP 25bln tax rise in her first Budget on October 30th to shore up public services, while the think-tank also noted that past governments have raised taxes sharply after elections.
- Fortum (FORTUM FH) CEO says they have spotted drones and suspicious people around their Finnish energy assets on a monthly basis. Being targeted by cyber attacks.
NOTABLE US HEADLINES
- Fed’s Daly (voter) said she fully supported a half-point rate cut and is quite confident they are on the path to 2% inflation, while she added that they are at full employment and will watch the data, as well as monitor the labour market and inflation. Furthermore, Daly said the size of the September rate cut does not say anything about the pace or size of the next cuts and noted that one or two more cuts this year are likely.
- Fed’s Collins (2025 voter) reiterated her support for more US rate cuts.
- Former US President Trump pledged to the end double taxation of Americans abroad, according to WSJ.
GEOPOLITICS
MIDDLE EAST
- “Israel security cabinet will meet this evening to discuss on the planned attack on Iran”, via journalist Elster
- Israel PM Netanyahu will ask the security cabinet to give him and Defence Secretary Galant the mandate to decide on the attack on Iran, according to Israeli press. It was also previously reported that PM Netanyahu asked to understand the American position and get support, according to Israel’s Channel 12.
- Israeli Defence Minister said the attack on Iran will be fatal, accurate and surprising, according to Al Arabiya.
- Israeli and US officials believe that tit-for-tat exchanges of fire will continue between Iran and Israel, even after the Israeli retaliatory strike soon against Iran, according to OSINTDefender on X.
- Israel conducted a new raid on Haret Hreik in the southern suburbs of Beirut and conducted a raid on the heights of the town of Jinta near the Lebanese-Syrian border, while it was also reported that a large force of Israeli soldiers raided the town of Idna, west of Hebron, in the southern West Bank.
- Israeli aggression was reported on Hasiya Industrial City in Syria’s Homs countryside, according to Syrian state TV.
- US warplanes flew over areas controlled by Iranian militias in Deir Ezzor, Syria, according to Sky News Arabia. It was later reported by media loyal to the Syrian regime that there was a bombing believed to be American on the city of Albu Kamal in the countryside of Deir Ezzor, according to Al Jazeera.
OTHER
- Ukrainian Presidential Advisor Lytvyn has denied earlier reports in Corriere della Sera that Zelensky would be “willing to accept a ceasefire along the current line – without recognizing a new official border – in exchange for certain Western commitments”.
- Russian ballistic missile strike on port infrastructure in Ukraine’s southern Odesa region killed six people and wounded 11 others on Wednesday, according to AFP News Agency.
- Taiwan President Lai said China has no right to represent Taiwan and he will uphold the commitment to resist annexation or encroachment, while he added that Taiwan is resolved in commitment to upholding peace and stability in the Taiwan Strait and achieving global security and prosperity. Taiwan will become more calm, more confident, and stronger, as well as noted that the determination to defend their national sovereignty remains unchanged.
CRYPTO
- Bitcoin edges higher and holds just beneath USD 60.9k, with Ethereum just shy of USD 2.4k.
APAC TRADE
- APAC stocks were higher following the record closes on Wall Street despite light macro catalysts as the latest Fed rhetoric and FOMC Minutes did little to spur a reaction, while the attention now shifts to looming US CPI data.
- ASX 200 mildly gained amid strength in real estate and the mining-related industries with the latter helped by M&A news after Rio Tinto announced a definitive agreement to acquire Arcadium Lithium.
- Nikkei 225 was underpinned at the open but with gains capped amid quiet newsflow and firmer-than-expected PPI data.
- Hang Seng and Shanghai Comp rallied with significant outperformance in the Hong Kong benchmark after returning to above the 21,000 level, while the mainland conformed to the broad upbeat mood which also followed the PBoC’s announcement to establish a securities and funds swap facility of CNY 500bln to enhance the internal stability of the capital market.
NOTABLE ASIA-PAC HEADLINES
- PBoC announced to establish a securities and funds swap facility of CNY 500bln to enhance the internal stability of the capital market, while it started accepting applications from securities firms, funds and insurers to join the swap scheme.
- Fast Retailing (9983 JT) FY (JPY) Op Profit 500.9bln (exp. 478.26bln), Pretax Profit 557.2bln (exp. 546.65bln); sees FY op. income 520bln.
- BoJ Deputy Governor Himino says “We are witnessing record high corporate profits and record high wage increase in Japan”; If the outlook for economic activity and prices presented in July report is achieved, BoJ will accordingly raise interest rates. The policy board is going to look at the totality of the data as it makes decisions meeting by meeting. “We have many real interest rates and they vary significantly but all of them are negative”. Later in the year, “we will have more data on the pass through of wage hikes on prices, and next year’s wage negotiations”. “We will also now more about pass through of YEN – Dollar rate on inflation via import prices”. Course is not pre-set. BoJ will consider adjusting degree of monetary conditions if the board has greater confidence in the outlook. “The data to focus on shifts as it comes in, today US employment and consumption and Chinese consumption may deserve more attention than before”. “We monitor data to detect developments that are not already covered in our risk scenarios, looking at data outside of the priority is equally important”. There is no clear consensus among the board members about future approaches on better communication.
- Japan’s Former FX Diplomat Kanda says heightened FX volatility has a largely adverse impact on Japan
- China’s State Planner publishes draft guidelines on private economy promotion law. Will be improving investment and the financing environment while reducing transaction costs.
- China prelim auto sales September, PCA: +2% Y/Y, +8% M/M. NEV: +51% Y/Y, +9% M/M.
DATA RECAP
- Japanese Corporate Goods Price MM (Sep) 0.0% vs. Exp. -0.3% (Prev. -0.2%); YY 2.8% vs. Exp. 2.3% (Prev. 2.5%, Rev. 2.6%)
2C ASIAN REPORT.
FOMC minutes showed some supported a 25bps cut; geopolitics and US CPI in focus – Newsquawk Europe Market Open
Thursday, Oct 10, 2024 – 01:09 AM
- FOMC Minutes stated that some officials would have preferred a 25bps cut, though a substantial majority supported 50bps
- Biden-Netanyahu call was positive; US does not yet know the timing of the strike against Iran
- APAC stocks traded higher, significant outperformance in Hong Kong on fresh PBoC support. European futures point to a slightly firmer open
- DXY rangebound, NZD & AUD outperform given the above and after Wednesday’s pressure
- Fixed benchmarks remain near Wednesday’s lows while Crude continues to move higher
- Looking ahead, highlights include Italian Industrial Output, US CPI, Initial Jobless Claims, US Federal Budget, NZ Manufacturing PMI, Chinese M2 Money Supply, ECB Minutes, Tesla Robotaxi Event, AMD AI Event, Speakers including Fed’s Cook, Barkin & Williams, Supply from US, Earnings from Domino’s Pizza & Delta.
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US TRADE
EQUITIES
- US stocks gained in which both the S&P 500 and Dow notched fresh record closes with outperformance in the latter and the small-cap Russell 2000 lagged but still finished in the green, while sectors were predominantly firmer with Healthcare, Technology and Industrials leading the advances and Financials also saw decent gains ahead of the start of earnings season. Nonetheless, macro catalysts were light as the latest Fed rhetoric and FOMC Minutes did little to spur a reaction with the latest CPI data on the horizon.
- SPX +0.71% at 5,792, NDX +0.80% at 20,269, DJIA +1.03% at 42,512, RUT +0.26% at 2,201
- Click here for a detailed summary.
FOMC MINUTES
- FOMC Minutes stated a substantial majority backed a half-point rate cut but some officials would have preferred a quarter-point cut. The participants that backed a 50bps cut generally observed that such a recalibration of the stance of monetary policy would begin to bring it into better alignment with recent indicators of inflation and the labour market. They also emphasized that such a move would help sustain the strength in the economy and the labour market while continuing to promote progress on inflation, and would reflect the balance of risks. Conversely, some participants noted they would have preferred a 25bps cut at September’s meeting and a few others indicated they could have supported that, while several participants discussed the importance of communicating quantitative tightening could continue for ‘some time’ even as rates are reduced.
NOTABLE HEADLINES
- Fed Vice Chair Jefferson said the underlying trend is inflation dropping towards 2% and cooling of the US labour market has been orderly, while he reiterated that risks to the mandate remain roughly in balance.
- Fed’s Daly (voter) said she fully supported a half-point rate cut and is quite confident they are on the path to 2% inflation, while she added that they are at full employment and will watch the data, as well as monitor the labour market and inflation. Furthermore, Daly said the size of the September rate cut does not say anything about the pace or size of the next cuts and noted that one or two more cuts this year are likely.
- Fed’s Collins (2025 voter) reiterated her support for more US rate cuts.
- Former US President Trump pledged to the end double taxation of Americans abroad, according to WSJ.
APAC TRADE
EQUITIES
- APAC stocks were higher following the record closes on Wall Street despite light macro catalysts as the latest Fed rhetoric and FOMC Minutes did little to spur a reaction, while the attention now shifts to looming US CPI data.
- ASX 200 mildly gained amid strength in real estate and the mining-related industries with the latter helped by M&A news after Rio Tinto announced a definitive agreement to acquire Arcadium Lithium.
- Nikkei 225 was underpinned at the open but with gains capped amid quiet newsflow and firmer-than-expected PPI data.
- Hang Seng and Shanghai Comp rallied with significant outperformance in the Hong Kong benchmark after returning to above the 21,000 level, while the mainland conformed to the broad upbeat mood which also followed the PBoC’s announcement to establish a securities and funds swap facility of CNY 500bln to enhance the internal stability of the capital market.
- US equity futures plateaued overnight and held on to the prior day’s spoils.
- European equity futures are indicative of a slightly positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed up by 0.7% on Wednesday.
FX
- DXY took a breather after climbing to just shy of the 103.00 level yesterday despite a lack of drivers as recent comments from Fed officials and the FOMC Minutes had little effect on the dollar. Attention now turns to the upcoming US CPI data.
- EUR/USD was stuck near its worst levels in almost two months owing to the firmer dollar, while ECB Minutes are due later.
- GBP/USD traded rangebound amid light UK-specific catalysts and after the recent failed attempt at the 1.3100 handle.
- USD/JPY held on to its gains above the 149.00 level after recently benefitting from dollar strength and firmer US yields.
- Antipodeans clawed back some of the prior day’s losses with the rebound facilitated by the positive risk tone.
FIXED INCOME
- 10yr UST futures languished near the prior day’s lows after yields crept higher amid the prevailing view that the Fed’s 50bps move in September was likely a one-off, while mixed 10yr auction results and a looming 30yr issuance also kept prices in check.
- Bund futures continued to trickle lower following recent supply, while German Retail Sales and ECB Minutes loom.
- 10yr JGB futures tracked the declines in peers but with losses stemmed by a floor around the 144.00 level and as participants reflected on the mixed results from the 5yr JGB auction.
COMMODITIES
- Crude futures gradually extended on the recent rebound as markets continued to await Israel’s response to Iran.
- Spot gold eked mild gains north of the USD 2,600/oz level with the upside limited heading into US CPI.
- Copper futures clawed back some of the prior day’s losses alongside the constructive mood.
CRYPTO
- Bitcoin mildly gained overnight and approached closer to retesting the USD 61,000 level.
NOTABLE ASIA-PAC HEADLINES
- PBoC announced to establish a securities and funds swap facility of CNY 500bln to enhance the internal stability of the capital market, while it started accepting applications from securities firms, funds and insurers to join the swap scheme.
DATA RECAP
- Japanese Corporate Goods Price MM (Sep) 0.0% vs. Exp. -0.3% (Prev. -0.2%); YY 2.8% vs. Exp. 2.3% (Prev. 2.5%, Rev. 2.6%)
GEOPOLITICS
MIDDLE EAST
- US President Biden and Israeli PM Netanyahu held a call which took place in a positive atmosphere and focused on the Israeli response to Iran, while Biden said Israel should start planning for the next phase of fighting on the Lebanon front, according to Israel’s Channel 12.
- White House said Biden’s call with Israel’s Netanyahu was direct and productive, while it added that discussions on the Iran attack continued and the call lasted 30 minutes. It was separately reported that Washington does not yet know the timing of the strike against Iran, nor the nature of the objectives, while Israel’s US envoy said the Biden-Netanyahu call was positive and Israel appreciates the support of the US.
- Members of the Biden administration were still relatively satisfied with the level of detail that was shared in the call with Israeli PM Netanyahu, according to ABC News citing a US official.
- Israel PM Netanyahu will ask the security cabinet to give him and Defence Secretary Galant the mandate to decide on the attack on Iran, according to Israeli press. It was also previously reported that PM Netanyahu asked to understand the American position and get support, according to Israel’s Channel 12.
- Israeli Defence Minister said the attack on Iran will be fatal, accurate and surprising, according to Al Arabiya.
- Israeli and US officials believe that tit-for-tat exchanges of fire will continue between Iran and Israel, even after the Israeli retaliatory strike soon against Iran, according to OSINTDefender on X.
- An Israeli warship was spotted at sea off the city of Tyre, southern Lebanon, according to Sky News Arabia.
- Iran’s Foreign Minister said stopping Israeli attacks on Gaza and Lebanon is necessary to prevent escalation of tension and the outbreak of a full-scale conflict, according to Al Jazeera.
- Pro-Iranian militias in Iraq evacuated some of their sites in Baghdad due to a fear of an Israeli attack, according to a Kann News correspondent citing Saudi TV sources.
- Israel conducted a new raid on Haret Hreik in the southern suburbs of Beirut and conducted a raid on the heights of the town of Jinta near the Lebanese-Syrian border, while it was also reported that a large force of Israeli soldiers raided the town of Idna, west of Hebron, in the southern West Bank.
- Israeli aggression was reported on Hasiya Industrial City in Syria’s Homs countryside, according to Syrian state TV.
- US warplanes flew over areas controlled by Iranian militias in Deir Ezzor, Syria, according to Sky News Arabia. It was later reported by media loyal to the Syrian regime that there was a bombing believed to be American on the city of Albu Kamal in the countryside of Deir Ezzor, according to Al Jazeera.
OTHER
- Russian ballistic missile strike on port infrastructure in Ukraine’s southern Odesa region killed six people and wounded 11 others on Wednesday, according to AFP News Agency.
- EU envoys agreed to contribute up to EUR 35bln towards the G7 loan to Ukraine which would total EUR 45bln with the loan to be backed by frozen Russian central bank assets and secured by EU budget headroom, according to Reuters.
- US senior official said Beijing is increasingly using normal political events as a pretext for military pressure on Taiwan, while the US is prepared for China using the October 10th celebration as a pretext for military pressure on Taiwan and sees no justification for it doing so.
- Taiwan President Lai said China has no right to represent Taiwan and he will uphold the commitment to resist annexation or encroachment, while he added that Taiwan is resolved in commitment to upholding peace and stability in the Taiwan Strait and achieving global security and prosperity. Taiwan will become more calm, more confident, and stronger, as well as noted that the determination to defend their national sovereignty remains unchanged.
EU/UK
NOTABLE HEADLINES
- Institute for Fiscal Studies sees risk of a large UK tax increase to ease the spending squeeze and said UK Chancellor Reeves may need to announce a GBP 25bln tax rise in her first Budget on October 30th to shore up public services, while the think-tank also noted that past governments have raised taxes sharply after elections.
DATA RECAP
- UK RICS Housing Survey (Sep) 11.0 vs. Exp. 4.0 (Prev. 1.0)
3a JAPAN
3B NORTH KOREA/SOUTH KOREA
Seoul Alleges North Korean Troops Are Fighting & Dying In Ukraine
Wednesday, Oct 09, 2024 – 05:20 PM
The South Korean government this week has made a big and bold accusation – it says North Korean troops are currently fighting alongside Russian forces in Ukraine.
The charge was specifically made by Seoul’s defense minister Kim Yong-hyun on Tuesday. He described that he has reason to believe that six North Korean officers were killed in Donetsk when a Ukrainian missile hit their location on October 3rd. He called reports which first surfaced in Ukrainian media “highly likely”.
The defense minister in a briefing with South Korean political leaders said, “We assess that the occurrence of casualties among North Korean officers and soldiers in Ukraine is highly likely, considering various circumstances.”
“The issue of deploying regular troops is highly likely due to the mutual agreements that resemble a military alliance between Russia and North Korea,” he noted further.
Seoul expects that more North Korean troops will be sent to the conflict. The accusation, which lacks hard evidence, comes after months of official US allegations saying the north has sent arms and ammo into Russia by the trainload.
What is clear is that Moscow and Pyongyang have made no secret that they are deepening their ties, including on the military front, but both sides have denied North Korean involvement in Ukraine.
There have been several exchanges of defense delegations, and Kim has visited Russia, and Putin even made a very rare visit to Pyongyang in June. The two leaders signed a mutual defense agreement this past summer.
Below is how the initial claims of North Korean officer deaths were reported in Ukrainian and US media:
Six North Korean military officers were among about 20 military personnel killed in a Ukrainian missile strike on Russian-occupied territory near the city of Donetsk, a Ukrainian news agency reported.
Citing sources in Ukraine’s military intelligence, Interfax-Ukraine said three North Korean servicemen were also wounded. Ukraine’s Kyiv Post reported that the attack happened on Thursday, citing intelligence sources.
Interfax-Ukraine, in its report on Friday, cited Russian bloggers as saying that North Korean military officers were visiting the front as part of an “exchange of experience” program.
The North Korean military was shown how the Russians were “preparing for assault actions, for defense,” when “a missile strike was launched on the training ground,” the Ukrainian news agency added.
If true this would mark a major escalation of N.Korea’s involvement. “More North Korean troops could be deployed in the war,” Seoul has warned.
The West wouldn’t be able to do much, having already put fairly maximum sanctions on both Russia and North Korea. It could be another dangerous sign that the Ukraine war is getting more and more internationalized.
END
3C. CHINA
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
GERMANY
Germany: Over Half Of Prisoners Are Foreigners In Many States, Costing Taxpayers Billions
Thursday, Oct 10, 2024 – 03:30 AM
By Remix News
In numerous German federal states, the prison population is made up of more than 50 percent foreigners, with the cost of these prisoners totaling €2 billion a year, according to an exclusive report from the Austrian news outlet Freilich.
Already in mid-July, German state media outlet SWR reported that for the first time, more than half of all prisoners in the southern state of Baden-Württemberg are foreigners. Currently, this figure stands at 50.8 percent. Freilich decided to look into the situation in other German states and found that five others also feature prison populations that are more than 50 percent foreign.
The state with the highest proportion of foreigners is Hamburg, which stands at 57.8 percent.
Other states, such as North Rhine-Westphalia, which is Germany’s most populous state, may not reach 50 percent, but the numbers are still extremely high, at 40.4 percent. The top offenders are Turks, Poles, Syrians, Moroccans and Romanians. In Bavaria, the second-largest state by population, 51.1 percent of the prison population is foreign, which includes 4,965 non-German nationals.
It is important to note that these statistics do not include those with a migration background. For instance, there is no data differentiating between ethnic Germans and Middle Easterners born in Germany. The data only shows if the perpetrator has a German passport or not. Other nations, such as Denmark, contain exact crime data not only on foreigners but also second-generation Danish citizens with a foreign background, with that data showing that this generation has higher crime rates than the first one.
In Hesse, 51.4 percent of the prison population is made up foreigners, equaling 2,245 prisoners. The largest groups come from Algeria and Morocco, but other top groups include Turks, Romanians, and Afghans, according to the Ministry of Justice.
As of July 22, 2024, Berlin featured 2,024 foreign prisoners, representing 56.4 percent of the total number, which stands at 3,588. A spokeswoman told Freilich that the largest groups are Poles, Turks, Serbians, and Georgians.
In Bremen, the smallest federal state, the number of foreign prisoners totaled 56 percent.
Other federal states, especially those featuring a smaller share of foreigners, have lower numbers, including Lower Saxony, which has 37.6 percent of the prison population made up of foreigners, Rhineland-Palatinate with 33.9 percent; Saxony at 43.2 percent; Schleswig-Holstein at 34.6 percent, Brandenburg at 36.8 percent; Saxony-Anhalt at 21.4 percent; Saarland at 30.7 percent; and Mecklenburg-Western Pomerania at 22.1 percent.
Thuringia has the lowest proportion of foreign offenders, making up 15.9 percent of the population out of a total of 1,072 prisoners, although Freilich notes this information dates from older sources.
Soaring costs and calls for reform
Freilich notes that “the accommodation of prisoners places a considerable burden on public coffers and taxpayers. This is also shown by the calculations carried out as part of the research. For all federal states together, the total cost of accommodating prisoners is around €4.137 billion per year, of which around €1.815 billion is spent on foreign prisoners in the correctional facilities of the 16 federal states.”
The Alternative for Germany (AfD) party says the figures reflect the failed policies of the older parties.
“Around 15 percent of people living in Germany are foreigners. However, their share of suspects, convicted persons and prisoners is disproportionately high. Once again, official figures prove that the migration policy of the old parties has completely failed,” said deputy domestic policy spokesman of the AfD parliamentary group, Martin Hess, who was also a police officer in Baden-Württemberg for 27 years.
“What we are experiencing here is a deliberate exploitation of our security by a government that is constantly proving to be a total failure.”
Hess said only a 180-degree turn in migration policy, as the AfD has been demanding for years, will improve the security situation.
“We must finally take decisive action against the escalating crime by foreigners – also for financial reasons, because every prisoner is an enormous burden on the public purse and therefore on the taxpayer,” he added. “In addition, it must become common practice to consistently deport illegal immigrants in order to prevent them from committing crimes. Because remigration is security. It is no longer acceptable for citizens to be let down by those in political positions of responsibility.”
END
ITALY
Hate-Preacher Imam Expelled From Italy For Glorification Of Hamas ‘Martyrs’
Thursday, Oct 10, 2024 – 05:00 AM
Authored by Thomas Brooke via Remix News,
The Italian government has authorized the deportation of an Islamic extremist imam on the grounds of national security as the country continues to counter extremism and radicalization within its borders.
Zulfiqar Khan, the imam of a mosque in Bologna, was informed of his expulsion from Italy this week, following an order signed by Interior Minister Matteo Piantedosi. He had been living in the country since 1995 having arrived from Pakistan and held a residence permit.
A police statement said Khan had “manifested a fundamentalist vision of the concept of jihad, had contacts with figures of ultra-radical Islam,” and had glorified the “martyrdom” of Hamas terrorists in the attack on Israeli civilians on Oct. 7 last year.
Zulfiqar Khan has engaged in a litany of hate speech that had ramped up significantly in the past year, including attacks on the United States, Israel and the Jewish community, and homosexuals, and is accused of delivering pro-Hamas propaganda through his sermons on a weekly basis.
Several preventative steps had been taken to address Khan’s reach prior to the deportation order, including the blocking in July of Khan’s personal and professional Facebook profiles to internet users in Italy, however, his messages were still accessible to those outside the country and to residents using a VPN.
In sermons over the past year, Khan claimed that “the day America was born, unbelief was also born, the idea of murder, of genocide was also born, the father of falsehood called Semitism was born.”
He has referred to Hamas terrorists as warriors rising up against the “Zionist cowards” and praised the “Hamas mujahideen warriors” who taught Israeli and American terrorists a lesson on Oct. 7.
In a letter published in July in response to complaints by lawmakers, Interior Minister Matteo Piantedosi said of Khan: “He has often expressed intransigent positions regarding issues on the West, on homosexuality, on the role of women and, after the attacks of 7 October, also on the Palestinian people and the Israeli Government, demonstrating appreciation for the actions carried out by Hamas.”
He has now officially been expelled from Italy following a thorough security assessment, which concluded that his continued presence posed a risk to public safety.
Deputy Prime Minister Matteo Salvini, who had publicly called for Khan to be “expelled immediately” back in June, hailed the decision taken by the Italian interior ministry to expel the hate preacher.
“We finally sent him home,” Salvini wrote on social media.
Khan’s lawyer, Francesco Murru, criticized the move, calling it a return to a “police state” and accusing authorities of prosecuting his client for “alleged crimes of opinion.”
It is unclear where the 54-year-old preacher will now turn, whether he will return to his homeland of Pakistan, attempt to fight the deportation order in the courts, or seek residence elsewhere in Europe.
5 RUSSIAN AND MIDDLE EASTERN AFFAIRS
end
ISRAEL HEZBOLLAH
This major town is now in Israel hands having pushed out Hezbollah
(zerohedge)
IDF Troops Raise Israeli Flag Over Southern Lebanon Town
Wednesday, Oct 09, 2024 – 07:40 PM
The Israeli Broadcasting Authority featured footage from Lebanon this week which showed Israel Defense Forces (IDF) troops raising the Israeli flag on Lebanese territory, after pushing Hezbollah out of the area.
The ongoing ground invasion to degrade and dismantle Hezbollah had been previewed as ‘limited’ and as expected to last for a few weeks, according to government officials, but the highly controversial planting of the flag could suggest an indefinite occupation of some parts of southern Lebanon.
The incident happened Tuesday, and involved several IDF troops planting the flag in the village of Maroun el-Ras in Bint Jbeil district in Nabatieh. This location is about a kilometer away from the border.
The soldiers can be heard saying in Hebrew in the video: “Pay attention to the Iranian promenade/boardwalk, in front of Avivim” – in reference to the closest Israeli settlement on the other side of the UN-demarcated border.
Iranian officials over the years were known to have visited the now destroyed spot, which is called “Iran Garden” – and is a vantage point from which Iranian leaders could peer into Israel from a high point, and which had memorials to past Hezbollah and Iranian officials.
Lebanese tourism guide companies have described it as “a place that commemorates Hezbollah’s resilience against the Israeli invasion in 2006.”
Former Iranian President Mahmoud Ahmadinejad had reportedly visited the spot over a decade ago. It now appears to be rubble after this week’s fighting. Israel’s YNet has described of the location:
The garden was well-maintained with tables for hosting visitors, a green plaza with seating areas, a cafeteria and an amphitheater overlooking Avivim. It also featured a playground for children, guard towers facing Israel, stone arches, a parking lot and a water well.
Its centerpiece was a model of the Dome of the Rock on the Temple Mount, and a cutout of the former Quds Force commander Qasem Soleimani, pointing toward Israel was also present at the site.
Israeli Energy Minister Eli Cohen in follow-up has confirmed the Israeli army has effectively “occupied” the village and “destroyed the houses from which Hezbollah launched anti-tank missiles at Israeli civilians.”
And Minister Benjamin Netanyahu on the same day strongly signaled expanded operations are coming, also as an Israeli Navy warship is parked off the southern Lebanese port city of Tyre. He called for the Lebanese population to “free” the country from Hezbollah or they will face “destruction and suffering like we see in Gaza.”
end
ISRAEL/HEZBOLLAH
IAF kills terrorist in Hezbollah’s Syrian terror cell
By JERUSALEM POST STAFFOCTOBER 9, 2024 22:38
The Israel Air Force (IAF) struck and eliminated Adham Jahout, a terrorist in Hezbollah’s “Golan Terrorist Network,” Hezbollah’s terror cell in Syria, the military stated on Wednesday evening.
Jahout was part of the terror cell in the area of Quenitra in Syria. He relayed information from Syrian regime sources to Hezbollah and transmitted intelligence gathered on the Syrian front to facilitate operations against Israel in the Golan Heights, the IDF said.
ISRAEL/IRAN/USA.HEZBOLLAH/HAMAS.HOUTHIS
US denies Israeli report claiming secret talks with Iran for axis-wide ceasefire
State Department says Washington is not involved in negotiations and is unsure they exist at all, calling Channel 12 claims ‘different than actual diplomatic conversations’
By ToI Staff and AgenciesToday, 12:53 amUpdated at 4:02 am
Iranian demonstrators burn representations of the Israeli and US flags during an anti-Israel gathering in Tehran, Iran, Tuesday, October 8, 2024. (AP/Vahid Salemi)
The United States denied an Israeli report Wednesday that it and Arab nations were conducting secret backchannel negotiations with Iran aimed at reaching a comprehensive regional ceasefire with Israel.
The Channel 12 report, which cited second-hand information from unnamed Israeli sources, claimed covert talks were taking place aimed at reaching an agreement to halt attacks on Israel from Tehran-led proxies, including Hezbollah, that have repeatedly launched missiles and drones at Israel in solidarity with Hamas in Gaza.
Asked about the report Wednesday, State Department spokesperson Matthew Miller flatly denied that Washington had any part in or knew of any such initiative.
“No one has reached out to the United States about such a proposal, and we’re not in talks with not in talks with any countries about such a proposal,” Miller said during a press briefing on Wednesday.
“I cannot speak to a hypothetical proposal that I’m not even sure actually exists in reality,” Miller added. “Obviously, we would welcome the end of conflict across the region.”
He stressed the Channel 12 story “was different than actual diplomatic conversations.”
The comments came shortly after Prime Minister Benjamin Netanyahu held a phone call with US President Joe Biden, marking the first time the leaders had spoken in months, and as Iranian Foreign Minister Abbas Araghchi held meetings with key US ally Saudi Arabia.
A handout picture provided by the Saudi Press Agency (SPA) shows Saudi Crown Prince Mohammed bin Salman, right, meeting with Iranian Foreign Minister Abbas Araghchi in Riyadh October 9, 2024. (SPA / AFP)
Miller declined to detail if the US was seeking to send any messages to Aracgchi, who is also set to travel to Qatar, a main mediator in efforts to reach a ceasefire in Gaza. Doha is also the political base for the Hamas terror group, which plunged the region into war when it launched an unprecedented attack on Israel one year ago.
Talks between Biden and Netanyahu were expected to revolve around Israel’s plans to retaliate against Iran for its October 1 ballistic missile attack, amid reports of growing frustration in Washington over Jerusalem’s unwillingness to share details of its intentions.
The US, which has sought to temper Israel’s retaliation, has consistently said it wants to keep the war in Gaza from spilling over into other arenas, but those hopes have withered in recent weeks as Israel and Iranian proxy groups around the Middle East, dubbed the “Axis of Resistance” by Tehran, have traded fire with increasing intensity.
Aside from its offensive against Hezbollah in southern Lebanon launched last month, Israel has also carried out airstrikes against Yemen’s Iran-backed Houthi rebels in retaliation for missile and drone attacks, and has been accused of attacking Iran-backed groups in Syria and Iraq as part of what it has described as a seven-front military engagement.
Police at an impact crater near Kfar Daniel possibly caused by a ballistic missile fired from Yemen that hit an open area on September 15, 2024. (Yossi Aloni/Flash90)
The Channel 12 report claimed that Israel was not involved in the talks and that it was unclear how they would affect elusive efforts to reach a ceasefire in the Gaza Strip.
An Israeli official quoted by the channel indicated that Jerusalem was keen to press its military advantage against Hezbollah rather than make concessions in a potential ceasefire deal.
“We are currently in a position of power, a ceasefire will be on our terms, including a [Hezbollah] withdrawal beyond the Litani [River] and the dismantling of all military Hezbollah sites in areas near the border,” a senior Israeli official was quoted as saying.
On Wednesday, Channel 12 and the Walla news site reported that Mossad chief David Barnea told his US counterpart that any ceasefire deal with Hezbollah in Lebanon must also include the release of the hostages being held in Hamas.
The reports said the Mossad chief told CIA head Bill Burns that the deals must be linked together. The strategy is reportedly aimed at getting Iran and Hezbollah — who have indicated they are open to a ceasefire in the north — to exert additional pressure on Hamas chief Yahya Sinwar to agree to a deal in Gaza that has proved elusive for many months.
A day earlier, Hezbollah appeared to drop its demand for a truce in Gaza as a condition for reaching a ceasefire in Lebanon, rowing back from an oft-repeated promise to keep up its rocket and drone barrages until Israel halts its offensive against the Lebanese terror group’s Iran-backed ally Hamas.
Hezbollah officials have consistently said they would not stop until Israel ended the conflict in the Strip, but the group has suffered major losses in recent weeks, including airstrikes that have wiped out much of its top leadership.
Vehicles drive past a billboard on a highway in Tehran, Iran, Oct. 7, 2024, showing slain Hezbollah leader Hassan Nasrallah, center, killed Hamas leader Ismail Haniyeh, right, and the late Iranian Revolutionary Guard Gen. Abbas Nilforushan, who was killed in an Israeli airstrike. The billboard contains a verse of Quran that reads: ‘We will surely inflict punishment upon the wicked.’ (AP Photo/Vahid Salemi)
Naim Qassem, the deputy leader of Hezbollah and its top living official, said he backed efforts by Lebanese parliament speaker Nabih Berri, a Hezbollah ally, to secure a truce — without setting a precondition.
“We support the political activity being led by Berri under the title of a ceasefire,” Qassem said. “If the enemy continues its war, then the battlefield will decide.”
In a follow-up to Qassem’s speech, Hezbollah issued a statement saying it will “not abandon our support and backing for our steadfast Palestinian people in the Gaza Strip.”
An image grab taken from Hezbollah’s Al-Manar TV shows the terror group’s deputy chief Naim Qassem delivering a speech from an undisclosed location on October 8, 2024 (AFP/ HO / AL-MANAR)
Miller said Tuesday that Hezbollah’s call for a ceasefire showed it was “getting battered.”
“For a year, you had the world calling for this ceasefire, you had Hezbollah refusing to agree to one, and now that Hezbollah is on the back foot and is getting battered, suddenly they’ve changed their tune and want a ceasefire,” he said. “We continue to ultimately want a diplomatic solution to this conflict.”
END
ISRAEL HEZBOLLAH WEDNESDAY EVENING
IDF eliminates two Hezbollah commanders, Cabinet to discuss response to Iran’s missile attack
IDF eliminates Hezbollah terrorists Ahmad Mustafa Alhaj Ali, Muhammad Ali Hamadan in Lebanon
The terrorists who were responsible for numerous anti-tank missile launches toward Israeli territories.
By JERUSALEM POST STAFFOCTOBER 10, 2024 08:44
The IDF had eliminated two key Hezbollah terrorists, Ahmad Mustafa Alhaj Ali and Muhammad Ali Hamadan, in Lebanon while operating on terrorist infrastructure, the IDF announced on Thursday morning.
In continued operations targeting Hezbollah weaponry in Lebanon, the Israel Air Force, guided by the Artillery Brigade 7338, had targeted the terrorists who were responsible for numerous anti-tank missile launches toward Israeli territories.
The terrorist Ali was the Lebanese terrorist organization’s commander in the Hula area and was responsible for hundreds of rockets and anti-tank missile launches, which targeted the Kiryat Shmona area, according to the IDF.
IDF targets military infrastructure in Lebanon
In a separate strike, the Hezbollah commander Hamdan was eliminated. The IDF reported that Hamdan was in charge of the anti-tank unit in the Mis al-Jabal area. Hamdan was also responsible for multiple anti-tank routes targeting Israel’s northern communities.
Additionally, the IDF announced that on Thursday overnight, the IAF, guided by precise intelligence from the Intelligence Directorate, had attacked weapon storage facilities in the Beirut area.
Furthermore, during the operation, additional Hezbollah military infrastructure and weapon storage facilities in southern Lebanon were destroyed.
END
ISRAEL/HEZBOLLAH/THURSDAY MORNING
TIMES OF ISRAEL
Finally on the offensive, IDF’s 91st Division slices through Hezbollah’s front lines
Reservists sustain casualties during second week of ground offensive, but assert control over Lebanon border area and Radwan weapons caches
By Lazar Berman FollowToday, 7:00 pm
- 91st Division commander Brig. Gen. Shai Klepper (L) on the border with Lebanon, October 10, 2024. (Lazar Berman/Times of Israel)
- 91st Division commander Brig. Gen. Shai Klepper (L) in southern Lebanon points out the Hezbollah weapons cache his troops uncovered, October 10, 2024. (Lazar Berman/Times of Israel)
- A Hezbollah weapons cache uncovered by IDF troops in southern Lebanon, October 10, 2024. (Lazar Berman/Times of Israel)
- A Hezbollah weapons cache uncovered by IDF troops in southern Lebanon, October 10, 2024. (Lazar Berman/Times of Israel)
- 91st Division commander Brig. Gen. Shai Klepper (R) in southern Lebanon in a Hezbollah weapons cache his troops uncovered, October 10, 2024. (Lazar Berman/Times of Israel)
- An IDF tanks operates in southern Lebanon, October 10, 2024. (Lazar Berman/Times of Israel)
Little more than a year ago, Israel faced a dilemma on its northern border, beyond the hovering threat that had occupied its defense leaders for the previous two decades. The Lebanese terror group Hezbollah had erected two tents inside of Israeli territory, which Israel was determined to see removed.
But it was equally determined to avoid a war with Hezbollah, which — Israel assumed — would rain thousands of rockets down on the country every day. Israel was as deterred as it hoped the powerful Iran-backed army was.
The tents remained for months, as Israel rather flaccidly sent a message to Hezbollah through UN peacekeepers asking them to remove the structures. Some officials in Israel pushed for the use of force, but in the end, diplomatic moves combined with vague verbal threats seemed to finally convince Hezbollah to pull back.
Now, after Hamas’s October 7 attacks — and a year of rocket and anti-tank missile fire from Hezbollah, Israel’s mood has changed dramatically, as has the balance of power. Ten days into the IDF ground operation in Lebanon, it’s hard to fathom that Israel recently treated Hezbollah as an adversary that it needs to tiptoe around.
On Thursday, the IDF for the first time brought Israeli journalists into a village in southern Lebanon, a clear indication that it feels it has asserted operational control over the area.
Other signs of the new reality abound. Israel has cut a series of openings into the border fence for IDF vehicles to cross into Lebanon, and the gaps are now entirely unguarded. It brought the journalists into enemy territory in open Hummers, with no fear of snipers or mines.
IDF hummers drive along the border fence with Lebanon points, October 10, 2024. (Lazar Berman/Times of Israel)
And the reserve soldiers from the 8207th Battalion of the 91st Division’s “Alon” Brigade who were stationed inside the Shi’a village seemed relaxed and happy, eager to pose for pictures or lightheartedly berate the journalists for spreading negativity.
Hezbollah certainly has some fight left. A soldier from the battalion was seriously hurt Wednesday, and eight were lightly hurt the day before. The IDF announced this morning that Sgt. Maj. (res.) Ronny Ganizate of the Alon Brigade’s 5030th Battalion was killed and another reservist seriously hurt.
But it’s far from the organized, highly professional defense that many expected. Soldiers said they faced uncoordinated attacks by small cells, which are inevitably eliminated. Soldiers in another brigade told The Times of Israel that the remaining Hezbollah fighters in their sector are mostly dispirited, though they mount the periodic ambush.
IDF operations in southern Lebanon. (Lazar Berman/Times of Israel)
Much of the degradation of Hezbollah’s forces along the border was achieved over the last year, as the IDF used artillery and airstrikes to target enemy positions in nearby Lebanese villages. The IDF also carried out dozens of quiet raids to further reduce Hezbollah’s capabilities.
Under pressure, the elite Radwan force that was trained to invade northern Israel pulled away from the border.
And in recent weeks, Israel has revved up its fight against Hezbollah into another gear. With cold-blooded creativity, a relentless series of IDF (and likely Mossad) attacks ravaged the terror group’s senior leadership and reduced its rocket arsenal.
Alon Brigade commander Col. Yaniv Malka in southern Lebanon points out the Hezbollah weapons cache his troops uncovered, October 10, 2024. (Lazar Berman/Times of Israel)
Driving along the border with Lebanon now, the fence that was designed to slow Hezbollah down in the event of an attempted invasion seems nothing less than pathetic, a rusty testament to how badly Israel underestimated its adversaries until 6:29 a.m. on October 7. The barbed wire coils and the blue UN barrels warning against crossing the demarcation line would have done nothing to slow thousands of Radwan fighters from pouring across into the kibbutzim and army bases nearby.
IDF soldiers in Lebanon have uncovered Hezbollah preparations for that very scenario.
“This village is a fortified position,” said Alon Brigade commander Col. Yaniv Malka, standing inside what was a small, one-story structure. “There is not a single building in all this village, unfortunately, where we didn’t find some kind of munition or piece of intelligence.”
That house held well-maintained military equipment for two Hezbollah fighters, including a stash of rockets. In a nearby field, troops found launchers aimed at the Israeli border community of Avivim.
A Hezbollah weapons cache IDF troops uncovered in southern Lebanon, October 10, 2024. (Lazar Berman/Times of Israel)
“All the buildings around it are just like this, but on steroids,” said Malka.
On Tuesday night, Battalion 8207 found a much larger cache in a house a hundred yards away. They were ambushed as they took the house, resulting in eight wounded.
The house had three rooms packed with mortar shells, Kalashnikov rifles, RPGs, hand grenades, rain suits and Kevlar vests. A Dragunov sniper rifle and PK machine gun lay in cases in one of the rooms, which is now missing its back wall.
“An operative comes south in jeans and sandals,” said 91st Division commander Brig. Gen. Shai Klepper, “reaches here, gets equipment, gets a map, gets the plan that he had prepared for, and knows how to invade.”
IDF troops from the Alon Brigade operate in southern Lebanon, October 10, 2024. (Lazar Berman/Times of Israel)
The preparation was meticulous. His soldiers found notebooks detailing regular inspections of the sites by Hezbollah officials going back five years.
After nearly a year of playing defense — “like a caged lion,” in the words of one officer — the 91st Division is finally on the offensive, using the full spectrum of its capabilities and putting its plans into motion. And it is determined to make sure Hezbollah’s years of preparation go to waste.
“We will destroy every house that had munitions in them,” said Malka. “Period. We live not leave two stones on top of each other in any house that weapons were in.”
“We are taking away Hezbollah’s ability to fire at northern Israel.”
END
Israeli official to CNN: Cabinet to discuss response to Iran’s missile attack
By GUY ALSTEROCTOBER 10, 2024 11:38
The Israeli Cabinet will vote on Thursday evening on the response to the Iranian missile attack on October 1, according to a report on CNN citing an Israeli official.
END
ISRAEL/Hadera stabbing
Victim from Wednesday’s Hadera terror attack dies from wounds
Rabbi Fishoff was a resident of Hadera and a father of seven.
By JERUSALEM POST STAFFOCTOBER 10, 2024 12:08Updated: OCTOBER 10, 2024 12:27
Rabbi Raphael Mordechai Fishoff, age 35, who was critically wounded during the stabbing terror attack in Hadera on Wednesday, died from his wounds, Israeli media reported on Thursday.
Fishoff was a resident of Hadera and a father of seven. Announcing his passing, the Hillel Yaffe Medical Center said, “Unfortunately, despite the extensive efforts of the medical staff, the critically wounded individual has passed away. We share in the family’s sorrow.”
Six people were wounded in a stabbing attack in Hadera before the attacker was neutralized. The attack happened in four different locations, with the terrorist fleeing on a scooter before being stopped by an armed civilian on Herbert Samuel Street.
Hadera terror attack
Magen David Adom paramedics reported that two men, aged around 30 and 50, were in critical condition, while others sustained moderate injuries, including a 70-year-old man. One additional person sought treatment for anxiety.
Initially, police did not classify the incident as a terror attack, but later updates confirmed its nature.
During the manhunt, police deployed a helicopter and searched the streets with municipal inspectors. The terrorist was later identified as Ahmad Jabarin, a 36-year-old Israeli citizen from Umm al-Fahm, and police found an ax and a knife blade covered in blood, which has been sent for forensic analysis.
The investigation into the incident is ongoing.
end
ISRAEL/HEZBOLLAH//SYRIA THURSDAY MORNING;
Reservist killed fighting Hezbollah in Lebanon; Syrian media reports new IDF strikes
Sgt. Maj. (res.) Ronny Ganizate, 36, killed in ground op; IDF says two Hezbollah commanders responsible for firing on Kiryat Shmona killed in south Lebanon airstrike
By ToI Staff and AgenciesToday, 9:53 am
Sgt. Maj. (res.) Ronny Ganizate, who was killed fighting in southern Lebanon on October 10, 2024. (Israel Defense Forces)
The Israel Defense Forces on Thursday morning announced that Sgt. Maj. (res.) Ronny Ganizate, of the Alon Brigade’s 5030th Battalion, was killed fighting Hezbollah in southern Lebanon, as the military continued to battle the Iran-backed terror group on multiple fronts including Syria.
Another reserve soldier from the 5030th Battalion was seriously wounded in the same incident and taken to a hospital, the military added.
Ganizate, 36, of Givat Shmuel, was the 12th Israeli soldier killed in the ground offensive against Hezbollah in Lebanon and during operations on the border. Israel launched an offensive on September 23 aimed at removing the terror group from southern Lebanon following a year of near-daily cross-border attacks.
Also Thursday morning, the IDF said that air force jets struck and killed two Hezbollah commanders in south Lebanon.
One was named as Ahmad Mustaga Alhaj Ali, responsible for the firing of hundreds of rockets and anti-tank missiles at the border city of Kiryat Shmona. The other was Muhammad Ali Hamdan, commander of Hezbollah’s anti-tank corps in Meiss Ej Jabal, across the border from Kiryat Shmona, who the IDF said was also behind many attacks on northern communities.
The airstrikes came after two civilians, Revital Yehud, 45, and Dvir Sharvit, 43, were killed in a rocket attack on Kiryat Shmona Wednesday, as Hezbollah fired dozens of rockets into northern Israel and military forces aimed heavy air and ground fire at the Lebanese terror group.
This composite image shows Revital Yehud (L) and Dvir Sharvit, who were killed in a Hezbollah rocket attack on Kiryat Shmona on October 9, 2024. (Used in accordance with Clause 27a of the Copyright Law)
The pair of fatalities, the first civilians to be killed since fighting between Israel and Lebanon intensified late last month, came on a day that also saw five people injured in a large rocket barrage on Haifa.
The IDF statement on Thursday morning said that it had struck weapons caches in south Lebanon and Beirut overnight, noting that steps were taken ahead of the strikes to minimize harm to civilians, including warnings to evacuate.
Smoke and fire rise from the site of an Israeli airstrike in Dahiyeh, Beirut, Lebanon, October 8, 2024. (AP/Hassan Ammar)
Also Wednesday, the IDF said in a statement that it killed Adham Jahout, a Hezbollah operative in the Quneitra area of southern Syria just across the border from the Golan Heights earlier in the day.
Jahout “passed information from Syrian regime officials to the Hezbollah organization,” as well as other information it gathered along the border to target the Golan Heights, the IDF said, in a rare Israeli confirmation of operations in Syria.
Early Thursday, Syrian state media reported a separate Israeli attack on the central provinces of Homs and Hama, which state news agency SANA said caused “material damage” but no casualties.
“At around 1:00 am (2200 GMT Wednesday), the Israeli enemy launched an air attack… targeting a car assembly factory in the industrial area of Hassia in Homs province” and a military position in Hama, SANA said, citing a military source.
Hassia is about 80 kilometers (50 miles) south of the city of Hama.
Citing the manager of the industrial area in Hassia, SANA reported the attack targeted not only the factory but also vehicles “loaded with medical and relief supplies… which led to a large fire” that firefighters were working to extinguish.
The Britain-based Syrian Observatory for Human Rights war monitor said an “Iranian car factory” in Hassia was targeted “directly,” while the strikes in Hama province targeted an area home to air defenses and government troops.
Since Syria’s civil war erupted in 2011, Israel has carried out hundreds of strikes in the country, mainly targeting army positions and Iran-backed fighters, including Hezbollah.
Israel rarely comments on individual strikes in Syria but has repeatedly said it will not allow Iran to expand its presence there.
People gather by damaged vehicles at the site of an alleged Israeli airstrike in the Mezzeh suburb on the western outskirts of Syria’s capital Damascus on October 8, 2024. (AFP)
The ongoing fighting came as Prime Minister Benjamin Netanyahu spoke with US President Joe Biden on Wednesday, their first call in nearly 50 days. During the call, which focused on Israel’s response to the Iranian missile attack earlier this month, the White House said that Biden affirmed Israel’s right to protect its citizens from Hezbollah while emphasizing the need for a diplomatic agreement that would allow civilians on both sides of the border to return to their homes.
In recent days, the Biden administration has gradually walked away from its initiative for a 21-day ceasefire, while intensifying its support for the limited Israeli raids aimed at dismantling Hezbollah posts along the border, which were launched shortly after the White House rolled out the ceasefire effort.
According to the White House readout of Wednesday’s call, Biden stressed “the need to minimize harm to civilians, in particular in the densely populated areas of Beirut,” where Israel has been conducting airstrikes largely targeting the Hezbollah stronghold of Dahiyeh.
People pass in front of destroyed buildings that were hit by Israeli airstrikes targeting Hezbollah in Dahiyeh, Beirut, Lebanon, October 6, 2024. (AP/Hussein Malla)
Hezbollah has lobbed over 3,000 rockets at Israel’s north — and in some cases beyond — since Israel launched its offensive on September 23. Israel says it is seeking to make it safe for some 60,000 people displaced by the ongoing Hezbollah attacks since October 2023 to return home, including by eliminating the threat of a Hamas-style cross-border rampage it alleges Hezbollah had planned to unleash on northern towns.
The Israeli military said it has dismantled Hezbollah infrastructure along the border and killed hundreds of Hezbollah fighters. It has also carried out airstrikes deeper inside Lebanon, including an attack on a coastal town near Sidon that Lebanon said killed four people on Wednesday. It did not say if the four were civilians or combatants.
The attacks on northern Israel over the last year have resulted in the deaths of 28 civilians. In addition, 34 IDF soldiers and reservists have died in cross-border skirmishes and in the ensuing ground operation launched in southern Lebanon in late September.
IDF forces on the ground in southern Lebanon, October 9, 2024. (Israel Defense Forces)
Two soldiers have been killed in a drone attack from Iraq, and there have also been several attacks from Syria, without any injuries.
Hezbollah has named 516 members who have been killed by Israel during the ongoing skirmishes, mostly in Lebanon but some also in Syria. Another 94 operatives from other terror groups, a Lebanese soldier, and dozens of civilians have also been killed.
These numbers have not been consistently updated since Israel began a new offensive against Hezbollah in September, including the ground operation, in which the military says at least 450 Hezbollah operatives have been killed.
ISRAEL HEZBOLLAHT//HURSDAY AFTERNOON
UN Says 900,000 Lebanese Displaced By War, A Quarter Of Country Now Under Israeli Evac Orders
Thursday, Oct 10, 2024 – 12:40 PM
The United Nations has issued a statement estimating that 600,000 Lebanese have now been internally displaced from their homes amid the ongoing Hezbollah-Israel war, and as a massive Israeli bombing campaign on the capital of Beirut has continued. Another 300,000 have already fled the country. The UN called the situation “catastrophic”.
“Lebanon finds itself facing a conflict and a humanitarian crisis of catastrophic proportions,” Jeanine Hennis-Plasschaert, the UN Special Coordinator for Lebanon, said. She described that the UN and Western leaders remain hopeful “that Israel too will now be ready to add its support to the many calls and appeals that are out there” for de-escalation and potential ceasefire.
Another official, Imran Riza, who is UN’s humanitarian coordinator described that Lebanon is facing “one of the deadliest periods” given that 600,000 civilians are internally displaced. He identified that over 350,000 these internal refugees are children. “Even wars have rules.” This week the US State Department appeared to back off the idea of calling for immediate ceasefire. The US wants to see Hezbollah weakened and defeated.
Israel has pushed back against the growing international criticism of its large-scale bombing of dense neighborhoods by saying, “We are not targeting civilians. But at the same time, if we will find Hezbollah activities or intention to launch rockets into Israel, we will do what any other country would do about it,” according to the words of Israel’s ambassador to the UN Danny Danon.
Since Sept. 23, Lebanon’s Health Ministry has said Israeli aggression has killed more than 1,323 people and injured nearly 3,700; however, Lebanon’s government figures make no distinction between combatants and civilians. Overall, going back to Oct.8, 2023 in the wake of the Hamas terror attacks and the conflict’s origin, Lebanon says a total of 2,141 have been killed and over 10,000 injured.
As for what amounts to 900,000 displaced at this point, the NY Times summarizes:
More than 600,000 people have been displaced within Lebanon, and over 300,000 more have left the country since the war broke out last month, the U.N. said, a total nearly on par with the number of people displaced during Lebanon’s 2006 war with Israel. Lebanese officials have put the total latest displacement figure at more than one million.
Hezbollah, for its part, has stepped up deeper rocket attacks into Israel, the last several days sending hundreds of rockets on the north, and many dozens on the port city of Haifa, in some cases damaging infrastructure and causing injuries to Israeli civilians.
In southern Lebanon, Israel’s military has ordered over 100 towns and villages to evacuate north. It is trying to create a buffer zone to precent Hezbollah launches into northern Israel.
The UN says a quarter of Lebanese territory is now under Israeli military displacement orders. “Lebanon’s humanitarian crisis is deteriorating at an alarming rate. Israeli airstrikes have not only intensified but also expanded into previously unaffected areas and increasingly targeted critical civilian infrastructure,” the UN Office for the Coordination of Humanitarian Affairs (OCHA) said Wednesday.
“Displacement orders for more than 100 villages and urban neighborhoods across southern Lebanon continue to force people to flee,” the report said. The IDF confirmed Wednesday it has hit southern Lebanon with 1,100 airstrikes since heightened operations began earlier this month.
Prime Minister Netanyahu has urged the Lebanese people to “free” the country from Hezbollah or else face destruction on the level of Gaza. But the reality is that among the country’s very divided political blocs and religious communities – the major ones being Maronite Catholic, Orthodox Christian, Shia, and Sunni Muslim – it is Shia Hezbollah which is by far the most well-armed. In the last couple decades of the 20th century, the country went through a horrific civil war, the lasting effects which can still be felt. It is some 40% Christian and about 60% Muslim. The Shias are mostly concentrated in the south, with most Sunnis in Tripoli in the north.
The Lebanese Army is not even close to Hezbollah in military capability, something which the US and Western powers have ensured. The US intentionally limits Lebanon’s Air Force – which is made up of a small American-supplied propeller planes. Western sanctions have long throttled the types and quantities of arms Lebanon is able to receive. Even though there are many people inside Lebanon, especially among the Maronites, who’ve long wanted to see Hezbollah disarmed and its power diminished, making this happen from within remains practically impossible.
END
SRAEL/HEZBOLLAH//IRAN
I WILL BET THAT HE IS DEAD.
Qaani is alive and is currently being interrogated in Iran, sources claim – report
The Islamic Republic is currently researching security breaches, with sources claiming Qaani and his team were under isolation.
By JERUSALEM POST STAFFOCTOBER 10, 2024 17:25
Commander of the Islamic Revolutionary Guard Corps (IRGC) Quds Force Brigadier-General Esmail Qaani is alive and currently under investigation in Iran, the Middle East Eye reported on Thursday, citing several sources.
His whereabouts have been unknown since Israel’s Saturday strike in Beirut that killed Hezbollah chief Hassan Nasrallah’s presumed successor, Hashem Safieddine.
According to the report, the Islamic Republic is currently researching security breaches, with ten sources from Beirut, Baghdad, and Tehran telling the UK-based news outlet that both Qaani and his team were under isolation while under examination.
In addition, on Thursday, Israeli media, citing Sky News, reported that Qaani had suffered from a heart attack during interrogations.
“The Iranians have serious suspicions that the Israelis have infiltrated the Islamic Revolutionary Guard Corps, especially those working in the Lebanese arena, so everyone is currently under investigation,” a source told the Middle East Eye.
However, the report also cited a source linked to Hezbollah, who alleged unequivocally that the breach was “100 percent Iranian.”
One source reportedly told the news outlet that Qaani was still in Beirut rather than in Iran.
Qaani has not be publicly seen since Israel eliminated Hezbollah’s chief Hassan Nasrallah in late September, The Middle East Eye further noted.
Qaani in Beirut
The sources cited by the outlet noted that Qaani and other IRGC commanders arrived in Beirut two days following Nasrallah’s killing for an on-site assessment of the situation.
Following Safieddine’s elimination, however, communications with Qaani were lost, the sources also reportedly noted.
Qaani succeeded Qasem Soleimani after the latter was assassinated by the United States in 2020.
END
ISRAEL/HEZBOLLAH
Major Israeli strike in central Beirut said to target senior Hezbollah official
ISRAEL AT WAR – DAY 370
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Homepage
Live NowUpdated 1min ago
Major Israeli strike in central Beirut said to target senior Hezbollah official
3 reserve soldiers killed amid fighting with Hamas in northern Gaza * IDF strikes terror site in former Gaza school; Palestinians say 28 killed * Security cabinet convenes to discuss Iran retaliation
- 1min agoArab teacher arrested over TikTok dance to sue police and Ben Gvir; expected to win
- 29min agoIDF says 3 reserve soldiers killed amid fighting with Hamas in northern Gaza
- 41min agoTarget of major Israeli strike in central Beirut reportedly senior Hezbollah official
- 58min agoUnconfirmed report: Quds force commander suffers heart attack during interrogation
By ToI StaffToday, 2:43 am
Smoke plumes rise from the site of two Israeli airstrikes on a neighborhood in Beirut on October 10, 2024. (Mohamed ABOUELENEN / AFP)
The Times of Israel is liveblogging Thursday’s events as they happen.
IDF says 3 reserve soldiers killed amid fighting with Hamas in northern Gaza
This composite photo shows from left to right Master Sgt. (res.) Ori Moshe Borenstein, Maj. (res.) Netanel Hershkovitz and Master Sgt. (res.) Tzvi Matityahu Marantz, who the IDF announced on October 10, 2024, had been killed fighting Hamas in northern Gaza. (Israel Defense Forces)
The Israel Defense Forces announces that three reserve soldiers were killed amid fighting with Hamas in the northern Gaza Strip.
The three, all soldiers in the 5460th support unit of the 460th Brigade, are named as:
Master Sgt. (res.) Ori Moshe Borenstein, 32, from Moreshet.
Maj. (res.) Netanel Hershkovitz, 37, from Jerusalem.
Master Sgt. (res.) Tzvi Matityahu Marantz, 32, from Bnei Adam.
Their deaths bring the number of Israeli troops killed in the ground offensive in Gaza to 353.
END
Target of major Israeli strike in central Beirut reportedly senior Hezbollah official
Hebrew and Arabic media reports that the target of the IDF’s major airstrike this evening in central Beirut was Hezbollah’s Liaison and Coordination Unit chief Wafiq Safa.
Safa was sanctioned in 2019 by the US Treasury Department, which described him as Hezbollah’s interlocutor to the Lebanese security forces.
“As the head of Hezbollah’s security apparatus, which is directly linked to Secretary General Hassan Nasrallah, Safa has exploited Lebanon’s ports and border crossings to smuggle contraband and facilitate travel on behalf of Hezbollah, undermining the security and safety of the Lebanese people, while also draining valuable import duties and revenue away from the Lebanese government,” the Treasury Department wrote at the time.
A Lebanese security source confirms to Reuters that the Israeli strike on central Beirut targeted at least one senior figure in Hezbollah.
This is the third such attack beyond the southern suburbs of Beirut since Israel escalated its campaign against Hezbollah last month.
Unconfirmed report: Quds force com
Unconfirmed report: Quds force commander suffers heart attack during interrogation
An unconfirmed report from Sky News Arabic claims that top commander of Iran’s Quds Force Esmail Qaani suffered a heart attack during an interrogation conducted by Iran’s Islamic Revolutionary Guard Corps over his potential involvement in Israel’s assassination of Hezbollah chief Hassan Nasrallah late last month.
Rumors about Qaani have swirled since the assassination of Nasrallah, since he has not been seen publicly since.
END
Major Israeli missile strike said to target central Beirut
By Reuters
A thick plume of smoke can be seen rising from central Beirut after missiles were heard flying over the city on Thursday, Reuters witnesses say.
It is not immediately clear what was struck.
A Lebanese security source says an Israeli strike targeted the Beirut district of Noueri.
END
ISRAEL HAMAS
‘Staying in Jabalya is putting yourself at risk’: IDF Arabic Spox urges residents to evacuate
Approximately 300,000 Hamas supporters have chosen to remain in Gaza City, forming a group under the principle of ‘Sumud,’ or steadfastness, despite the hardships.
By JERUSALEM POST STAFFOCTOBER 10, 2024 09:42
IDF Arabic Spokesman Lt. Col. Avichay Adraee addressed residents of Jabalya in the northern Gaza Strip on Wednesday in a post on X/Twitter announcing a temporary halt to military operations and urging the civilians to evacuate to the humanitarian zone in southern Gaza.
Adraee warned that this was their “final opportunity to leave safely,” advising, “Do not believe the lies and slogans of Hamas leaders,” who he said had already moved to safer locations or were speaking from outside the region. He cautioned residents that the fighting would resume within hours, stating, “If you stay in Jabalya, you are putting yourselves at risk.”
Eyal Ofer, an expert on Hamas’s economy, described the situation as pivotal, noting, “The decisive phase of the entire war is currently taking place in northern Gaza,” Maariv reported. He explained that the psychological battle between the IDF and Hamas leadership has intensified, as both sides issue contradicting instructions to the Gazan civilians.
Maariv noted that while the IDF has ordered evacuations from northern Gaza – including Beit Hanoun, Beit Lahia, and Jabalya – Hamas has encouraged residents to remain, with some even directed to return to their original neighborhoods immediately after Israeli operations.
Most civilians adhere to evacuation orders
Ofer reported that approximately 300,000 Hamas supporters have chosen to remain in Gaza City, forming a group under the principle of ‘Sumud,’ or steadfastness, despite the hardships. “This is the most significant effort by Hamas to maintain its civilian and governmental grip on Gaza,” he said, emphasizing that it takes precedence over military assets.
The IDF has claimed that most civilians have adhered to evacuation orders, especially from areas like Rafah, which emptied quickly. However, according to Maariv’s report, some residents remain, including those who have moved to nearby regions like Sheikh Radwan, west of Jabalya.
The Sheikh Radwan neighborhood has now become a temporary hub, Maariv noted, hosting both displaced civilians and Hamas officials, who are using former schools as shelters. As the operation in northern Gaza continues, the IDF has yet to achieve a widespread civilian evacuation, which Ofer suggests is key to eliminating Hamas’s influence.
“Only when we see video footage of convoys with tens of thousands of civilians crossing will we know that the IDF has succeeded in its objective,” Ofer emphasized.
Peled Arbeli contributed to this report.
end
ISBRAEL/JAMAS/JABALYA
IDF kills 12 terrorists in Jabalya, Gaza Strip, some involved in Oct. 7
Guided by precise intelligence information, an Israel Air Force aircraft struck the terrorists who were operating in a command center in Jabalya.
By JERUSALEM POST STAFFOCTOBER 10, 2024 18:39Updated: OCTOBER 10, 2024 19:13
The IDF and Shin Bet (Israel Security Agency) killed 12 Hamas and Palestinian Islamic Jihad (PIJ) terrorists in Jabalya in the Gaza Strip, the military said on Thursday, noting that some of them had been involved in the October 7 massacre.
An Israel Air Force aircraft struck the terrorists who were operating in a command center in Jabalya, which was previously used as a medical site.
Terrorists used the center to carry out terror activities, the military noted, adding that in it were many weapons.
The terrorists eliminated were the platoon commander in Hamas’s Military Intelligence Unit, Mustafa Abd Al-Aziz; the deputy platoon commander of an anti-tank unit in Hamas’s northern Brigade, Mahmmud Khamis Suleiman Awad; Hamas terrorists in the terror group’s Eastern Jabalya Battalion, Bilal Bashir Muhammad Al-Sharafi.
Also killed were a Hamas terrorist in the eastern Jabalya Battalion of the terror group’s military wing Saher Farid Muhammad Abu Rashed, who partook in the October 7 massacre; an engineering operative in the Eastern Jabaliya Battalion, Karem Salaeh Hassan Abu-Daher; an additional terrorist in the Eastern Jabaliya Battalion, As’ad Yusuf Saeid Hazaa; a terrorist in Hamas’s Military Wing, Saeid Hisar Saeid Sbaba; additional Eastern Jabaliya Battalion terrorist Ibrahim abu-alJalili.
Eliminating Nukhba terrorists
The military and Shin Bet also eliminated Nukhba terrorists in the Eastern Jabaliya Battalion who took part in the massacre, Nukhba platoon commander, Zakaria Hussein Abu-Habal and Nukhba platoon commander Muhammad Rabee Musbah Arini.
Furthermore, the military and Shin Bet killed two PIJ terrorists, Muhammad Ibrahim Ali Bader, and Amjad Ziad Abed al-Rahman Aziz.
end
IDF announces three fallen soldiers killed in Gaza Strip
The fallen soldiers were Staff-Sergeant-Major (res.) Ori Moshe Borenstein, Major (res.) Netanel Hershkovitz and Staff-Sergeant-Major (res.) Matityahu Marantz Tzvi.
By JERUSALEM POST STAFFOCTOBER 10, 2024 20:41Updated: OCTOBER 10, 2024 21:02
Three soldiers were killed in the northern Gaza Strip, the IDF announced on Thursday.
The fallen soldiers were Staff-Sergeant-Major (res.) Ori Moshe Borenstein, Major (res.) Netanel Hershkovitz and Staff-Sergeant-Major (res.) Tzvi Matityahu Marantz.
St.-Sgt.-Maj. (res.) Borenstein, 32, from Moreshet, served as APC commander, Maj. (res.) Hershkovitz, 37, from Jerusalem, served as a deputy company commander and Sgt.-Maj. (res.) Marantz, from Bnei Adam, served as squad commander.
The three served in the the Logistical Support Unit of the 5460th Unit, in the 460th Brigade.
Soldiers killed since beginning of war
According to the IDF‘s tally, the death of Borenstein, Hershkovitz, and Marantz raised the total of soldiers killed on or since October 7 of last year to 734 soldiers.
Some 351 of this number were killed since the start of the military’s ground operations in Gaza on October 27.
END
5 Israeli Arabs linked to ISIS arrested for plot to bomb Azrieli Mall in Tel Aviv
Police and Shin Bet announce monthlong clandestine investigation culminating in arrests of Taybeh-based cell tied to fanatical terror group
By ToI StaffToday, 1:50 p
A screenshot from a video released on October 10, 2024, showing the raid to apprehend five men from the Arab Israeli city of Taybeh in connection with an ISIS-linked terror plot. (Screenshot: Israel Police/Shin Bet, used in accordance with Clause 27a of the Copyright Law)
The Israel Police and the Shin Bet security service recently thwarted a plot by five Arab Israeli citizens to carry out a car-bombing attack at Tel Aviv’s Azrieli Mall under the banner of the Islamic State terror group, according to a joint statement Thursday.
The five residents of Taybeh in central Israel formed a terror cell allied to ISIS, the fanatical terror group that originated in Iraq and Syria.
The five were arrested after a month-long clandestine investigation in collaboration with the Lahav 433 serious crime unit and were set to face charges in the coming days. The cell’s leaders were named as Mahmoud Azam and Ibrahim Sheik Yousef. They recruited three others — Sajed Masarwa, Abdullah Baransi and Abdel Kareem Baransi.
Police and the Shin Bet said that the five had studied footage of terror attacks in Syria and discussed the amount of explosives needed to bring down Tel Aviv’s iconic Azrieli towers.
Azam and Yousef were in contact with foreign ISIS agents and planned to travel abroad to meet with operatives from the terror group, the statement added, noting that the plan was uncovered with the help of “precise and effective intelligence operations,” and had been halted in its preliminary stages.
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The statement said that the arrests “prevented a major disaster and saved lives” and vowed that the police and Shin Bet would continue to “use all means at their disposal to thwart plots to harm the security of the State of Israel and its citizens.”
The announcement came after a Border Police officer was killed and at least 10 others wounded when an Arab Israeli terrorist opened fire in the Beersheba bus station on Sunday afternoon.
Then on Wednesday, an Arab Israeli man went on a stabbing spree in the central city of Hadera, wounding six people, one of whom succumbed to his injuries a day later.
The arrests also came days after the anniversary of Hamas’s October 7 mass onslaught against southern Israel, which was the worst terror attack in Israel’s history, and a week after a deadly shooting attack in Jaffa in which two Palestinian terrorists from Hebron opened fire at a light rail stop, killing seven people.
RUSSIA/UKRAINE
end
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUE
Fasting Activates Cell Repair Mechanism, Reverses Disease
Wednesday, Oct 09, 2024 – 08:55 PM
Authored by Jingduan Yang, M.D. via The Epoch Times (emphasis ours),
Fasting helps with weight loss and activates the body’s autophagy, allowing deep-seated cell repair and improving cell health. As a result, fasting has been found to help prevent various diseases, slow aging, and effectively treat some illnesses.
What Is Autophagy?
Autophagy is an important function that every cell possesses. As the name suggests, it means self-engulfing and is an essential cellular self-cleaning process.
Each cell contains multiple parts that keep it functioning continuously. Over time, these parts may become defective or stop performing and become waste inside an otherwise healthy cell. For example, when damaged proteins, discarded organelles, or other wastes appear inside our cells, the efficiency of normal cell operation is reduced.
Autophagy is equivalent to the body’s cellular recycling system that decomposes and recycles cell parts and waste. At the same time, it repurposes the salvageable bits and pieces into new, usable cell parts to generate energy and repair the cells, keeping the latter healthy and helping to prevent the incidence of diseases.
A 2013 study published in Ageing Research Reviews has found that with normal autophagy in place, the body is able to resist disease effectively and can even delay aging. When autophagy slows, the waste removal process from the cells becomes less reliable, which may lead to various health issues, culminating in neurodegenerative diseases, metabolic disorders, and even cancer.
Fasting and Autophagy
How are fasting and autophagy related? When we fast, our cells sense a decrease in energy supply, signaling that they need to start cleaning up their internal “inventory,” initiating autophagy to recycle and utilize the resources already present in the cell.
Studies have shown that autophagy is a dynamic catabolic process that is strictly regulated. Adenosine monophosphate-activated protein kinase (AMPK), known as the “cell energy regulator,” acts like a switch to energy-saving mode in the cell organelle. It is activated whenever it senses a low energy condition, and the cell will then reduce the synthesis of new proteins and start autophagy.
Fasting triggers the autophagy process, and cells will automatically enter self-repair mode. This helps to remove waste from our bodies and improves the health of cells.
Research has found that regular fasting can reduce weight and improve aging-related health problems, including cardiometabolic, cancer, and neurocognitive outcomes. Another study found that metabolic profiles related to lung and colorectal cancer risk were reduced after fasting during Ramadan.
Case Sharing From My Medical Practice
1. An older man with Alzheimer’s disease: After trying various treatment options, the man’s family decided he should try an intermittent fasting program of fasting for 14 to 16 hours a day, eating only between an 8 to 10-hour time span. After four months, his cognitive function improved significantly. Scans of his brain showed a decrease in the buildup of proteins associated with Alzheimer’s disease. This improvement may be closely related to the autophagy process activated during fasting, which helps clear harmful proteins from the brain.
2. A breast cancer cancer patient: This patient fasted for 48 hours before chemotherapy. The side effects from chemotherapy were significantly reduced while producing a much better effect from chemotherapy treatment. This is because, during fasting, the autophagy process helps clear damaged cell structures and promotes the regeneration of the immune system, thus enhancing the effectiveness of the treatment. However, some cancer patients suffer from cachexia or are unable to eat at all. In these cases, fasting is not appropriate.
3. A middle-aged woman with lupus erythematosus (achronic autoimmune disease): This patient found that her symptoms improved significantly after intermittent fasting, and her dependence on hormonal drugs was significantly reduced. This is because autophagy effectively cleans up waste in the body and reduces the inflammatory response.
These cases demonstrate that fasting can profoundly affect the health of our cells and even help treat diseases.
However, fasting is not for everyone. People with chronic illnesses or special health needs are advised to consult a physician or nutritionist specialized in this area before beginning any fasting program.
Two Popular Fasting Routines
Healthy adults who want to try fasting can start with short-term or intermittent fasting.
16:8 Fasting: One of the most popular intermittent fasting methods. Fast for 16 hours a day and eat within the remaining eight hours. For example, restrict yourself to eating only between 10 a.m. and 6 p.m.
5:20 Fasting: Eat normally for five days of the week and limit your daily caloric intake to 500 to 600 calories on the remaining two days. This approach is also effective at kick-starting autophagy while making it easier for you to stick with it.
Fasting is not about starving yourself, but rather managing your diet more intelligently so that your body has time to repair itself. During the fasting period, drink enough water and keep up with nutritional balance by choosing the right foods in your meals to ensure adequate nutritional intake.
Views expressed in this article are the opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedg
MARK CRISPIN MILLER
n memory of those who “died suddenly” in the United States and worldwide, September 30-October 7, 2024
Actors Ken Page (Nightmare Before Christmas), Ron Hale (Ryan’s Hope); reality star Frank Fritz (American Pickers); news anchor Tom Curran; rocker Johnny Neel; TikToker Taylor Rousseau Grigg; & more
| Mark Crispin MillerOct 10 |
UNITED STATES
Actor Ken Page dead at 70
October 1, 2024
Ken Page, a veteran voice actor and Broadway star, has died. Page’s rep,Lance Kirkland, told TMZ that the ‘Nightmare Before Christmas’ actor passed away “very peacefully” in his home in St. Louis Monday. “We’re told Ken sat down in his chair and passed away in his sleep.”
No cause of death reported.
Ron Hale, soap actor from ‘Ryan’s Hope’ and ‘General Hospital,’ dies at 78
October 3, 2024
Ron Hale, a soap opera star who played Mike Corbin on “General Hospital” and Dr. Rodger Coleridge on “Ryan’s Hope,” died on Aug. 27 in St. George, S.C., according to South Carolina-based Bryant Funeral Home. He was 78. His niece Lori Brown told Soap Opera Network that the actor died unexpectedly at his home.
No cause of death reported.
‘American Pickers’ Frank Fritz dies 2 years after stroke: ‘A dreamer who was just as sensitive as he was funny’
October 1, 2024
American Pickers star Frank Fritz, 58, has died two years after he suffered a stroke. Fritz’s former co-host and friend Mike Wolfe shared the news on Instagram that Fritz died on Sept. 30.
No cause of death reported.
Longtime ‘Good Day Tampa Bay’ anchor Tom Curran passes away
October 4, 2024
Tampa, Fla. – Longtime FOX 13 News anchor Tom Curran passed away Thursday at the age of 70. Curran co-anchored ‘Good Day’ until his retirement in 2014, covering many major events in the Tampa Bay area and around the world. He battled Parkinson’s disease for many years before his passing.
Darius Rucker ‘devastated’ by death of longtime production manager: ‘He was our brother’
October 7, 2024
Raleigh, NC – Darius Rucker paid tribute to a man who had been on the road with him since the late 1990s this week. “For nearly 25 years, Jason ‘Devil Boy’ Parkin was a staple in our crew,” the Hootie & the Blowfish frontman wrote on social media Wednesday. Parkin, who was based in North Carolina, had been working with Rucker since 1998, according to his LinkedIn. He died Monday at WakeMed Hospital after “an ongoing battle with heart disease,” according to his obituary.
No age reported.
Johnny Neel, storied keyboardist, vocalist and songwriter, passes away at 70
October 7, 2024
Today, the music world mourns the loss of Johnny Neel, who passed away on Sunday, Oct. 7. Neel was a storied musician, vocalist and songwriter and a foundational figure in Southern rock, best known for his contributions to the Dickey Betts Band and the Allman Brothers Band’s second reunion. Neel was 70. News of his passing was confirmed by his friend and collaborator Doug Jones in a post to Neel’s Facebook feed: “Hello all. We have sad news to share. Johnny Neel passed away today from a massive heart failure.”
Two social media “influencers” “died suddenly”:
Beloved TikToker Taylor Rousseau Grigg dies at 25, donates organs
October 6, 2024
Taylor Rousseau Grigg was a 25-year-old woman who loved sharing her life on TikTok with her over 1.4 million followers. Now, her husband of one year, Cameron Grigg, announced on Instagram on Oct. 5 that Taylor died suddenly and unexpectedly. “No one ever expects to have to deal with this kind of pain and heartache, especially at our age,” he told his followers. “This past year has brought (her) more pain and suffering than most people do in a lifetime. And in spite of that she still has been such a light and always brought joy to everyone around her.”
No cause of death reported.
Social media star Lucas Coly dies suddenly at 27
October 4, 2024
Social media star Lucas Coly has reportedly died suddenly at the age of 27. Coly’s unexpected death was confirmed by his manager on Thursday in a social media post on Instagram.
No cause of death reported.
Madonna’s brother dead at 63
October 6, 2024
Another death in Madonna’s family … and this time it’s her younger brother, Christopher Ciccone, 63, who died from cancer Friday in Michigan. It’s the second death in as many weeks for Madonna’s family. Just last month, her stepmother, Joan Ciccone, died after a battle with what was described as a very aggressive cancer [reported here]. According to Christopher’s obituary, … “he died peacefully surrounded by his husband, Ray, and loved ones.”
A footballer “died suddenly”:
Prominent Waterloo native Kerry Burt has passed away
October 4, 2024
Waterloo, Iowa — Kerry Burt, a firefighter, former state lawmaker, and former all-Big Ten defensive back for the Iowa Hawkeyes, has passed away, multiple sources have confirmed. According to sources, Burt was found unresponsive at his home Tuesday morning. A proud Waterloo native, Kerry made his mark as a standout defensive back at the University of Iowa under Hayden Fry in the 1980s. After his football career, he returned home to serve his community by joining the fire department.
No age or cause of death reported.
Springfield restaurant owner dies unexpectedly
October 5, 2024
Springfield, Missouri – Dan Fritz, who owned Marty’s Sports Bar and Bugsy’s with his wife, Tara, died unexpectedly on Sept. 26. Dan Fritz was a professional performer and musician as well as a carpenter whose work was featured on the show “Extreme Makeover: Home Edition,” according to the obituary from Walnut Lawn funeral home.
No age or cause of death reported.
Dressage rider Hokan Thorn has passed away
October 3, 2024
Swedish-born American dressage rider Hokan Thorn has passed away at age 65. Hokan grew up in Visby, Sweden and built his life around horses. The highlight of his competitive career was in the 1990s, when he showed horses such as Joyce Hardesty’s Decapo and Virginia Fox’s Oldenburg Imperiale. His last competition year was 2020, when he spent the winter in Florida showing Django and Aragon, before moving back to North Carolina, where he continued to campaign Django at Grand prix level and Aragon at small tour level at Tryon. In recent years his health deteriorated but he could rely on the car of his devoted husband, Richard. Unfortunately, he lost his battle with Frontotemporal dementia and passed away in hospice.
A CEO “died suddenly”:
Live Oak’s CEO Jody Craft passed away suddenly
October 2, 2024
U.S. Air Force veteran Jody Craft, Live Oak Fiber’s CEO and founder, recently passed away. Craft led a company that has become an alternative provider serving mainly the Southeast U.S. The company announced the sudden passing of Craft this week.
No age or cause of death reported.
Three educators “died suddenly”:
TAMIU announces the death of Dr. Pablo Arenaz, its sixth president, at 74
October 4, 2024
Texas A&M International University announced Friday afternoon the sudden death of its president. Dr. Pablo Arenaz died unexpectedly the previous night. The 74-year-old was the sixth president in the university’s history. TAMIU said there is no current cause of death or additional information available, and that funeral arrangements are pending.
No cause of death reported.
Kristin Ann Downs, 58
October 7, 2024
Berthoud, CO – Kristin Ann Downs, of Berthoud, CO, originally from the area of Peoria, IL, passed away October 2, 2024. Kristin was a beloved teacher and high school principal. She dedicated her life to helping children find joy in learning and improving education. She was an adored daughter and sister, and loving mother and grandmother, and a devoted wife.
No cause of death reported.
DR PAUL ALEXZANDER
Canada’s NORTHERN border with US is site of massive surge in illegal border entries into USA! 20,000, 86% of all terrorists stopped at US border 2023/24 at Canada border; 90% have legal Canada status
Trump must close Canadian border, close it until we sort this madness out, deport all who came from Canada back to Canada, leave it closed as the illegal terrorists just WALK across, no wall, NOTHING
| Dr. Paul AlexanderOct 9 |
90% of terrorists stopped at border with Canada has actual legal status in Canada! Take note of what I just stated! The terrorists, majority are entering USA from Canada!
Under the Biden-Harris administration, the greatest number of individuals identified on the U.S. Terrorist Watchlist have been caught at the northern border.
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.
Since fiscal 2021, U.S. Customs and Border Protection and Border Patrol agents have apprehended 1,746 known or suspected terrorists (KSTs) nationwide, the greatest number in U.S. history.
The majority, 1,089, were reported at the northern border attempting to enter the U.S. from Canada. They were primarily caught by CBP agents at ports of entry, as The Center Square has previously reported. There are half the number of points of entry at the U.S.-Canada border than there are at the U.S.-Mexico border.
Trudeau set that up with Obama, I remember, just before the 2016 election that Trump won! Obama was ISLAM-izing USA, with terrorists like Tashfeen Malik who killed 13 at San Bernadino!
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Pilot (59 years old) dies SUDDENLY aboard Turkish Airlines flight, forcing emergency landing in New York; in this era of the Malone Bourla Bancel Weissman mRNA technology gene vaccine, you MUST place
the mRNA deadly vaccine as cause of likely vaccine induced cardiac arrest! POTUS Trump MUST stand up against the Malone Bourla et al. mRNA vaccine, NOT praise it; we said CATECHOLAMINE surges under
| Dr. Paul AlexanderOct 10 |
stress, take off, landing, stress during flight! Is the cause…you have to prove it is not…we need his vaccine history for the deadly Malone et al. mRNA vaccine and booster history! When was the last one? If the person has vaccine induced myocardial scarring, irregular electrical conduction across the heart’s myocardium, if the heart muscle has scars, it can compensate (typically when younger) but the heart is damaged by asymptomatic often insidious silent MYOCARDITIS (it is not mild, it is potentially deadly with stress and exertion) that is lurking…this is why young boys, males 15 to 24 etc. at prime age (and we see myocardial lesions in young girls too, see Mueller et al.) die suddenly on the soccer field, in sports, we see dying in sleep as one rises and wakes at dawn e.g. 4 to 6 am.., this is what killed Damar Hamlin of the Buffalo Bills NFL team and he I argue is a dead man walking continuing to play…this is why Travis Kelce pimping for Pfizer has encouraged many to take the shots and he has to hope some do not die and it is confirmed vaccine induced. He can become caught in litigation. He was wrong to shill for Pfizer given the terrible harm profile.
Why would this pilot die suddenly when he was deemed healthy and fit to fly?
When there is silent myocarditis (mRNA VACCINE INDUCED), you do not know the heart is damaged. But under stress, there is a catecholamine surge e.g. epinephrine or adrenaline, and dopamine etc. to handle the increased energy, exertional demands etc. But when these catecholamines flood the blood stream and bath a damaged scarred myocardium, it can place the heart under stress and there is already irregular electrical conduction across the scarred area, then there is atrial fibrillation that could end in cardiac arrest, heart stoppage. Heart-related complications, blood clots, brain bleeds, heart failure. Stroke. This is the legacy of the mRNA gene vaccine.
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.
Damar Hamlin needed I recall 10 minutes of CPR to revive him on the field and I think his heart stopped again. It was the Malone et al. mRNA vaccine. Do not discount this.
When the person’s vaccine status etc. is not told you, when their heart health is not explained, then you have an idea. It is being covered up.
It is likely this Turkish airline pilot died of cardiac arrest due to the Malone Sahin Kariko et al. mRNA vaccine. It, mRNA vaccines, mRNA technology, must not be praised, it must be stopped, all involved must be properly investigated to help address what we are facing. What happened. Who knew what, and why would they have stood behind and remained silent when they never properly safety tested the mRNA technology and vaccine.
It is no stretch for airlines, the FAA, pilot unions (and pilots) to demand that pilots today be checked for silent asymptomatic myocarditis etc. Via chest MRI using gadolinium contrast, EKGs, high-sensitivity troponin test etc. Before entering the cockpit. Will it take one to two commercial airliners falling from the sky to understand what is lurking?
EVOL NEWS
| LATEST NEWS: |
SLAY NEWS
| South Korea’s Excess Deaths Skyrocket Among Vaccinated PopulationSouth Korea’s almost universally Covid-vaccinated population has suffered a staggering five-fold surge in excess deaths since Covid mRNA shots were rolled out for public use.READ MORE |
| Study Confirms Covid Shots Cause Blood Clots in LungsA new study has confirmed that Covid mRNA shots cause blood clots to form in the lungs.READ MORE |
| Trump Demands Full Kamala Harris ’60 Minutes’ Interview Released after CBS Caught Deceptively Editing FootagePresident Donald Trump has responded after it emerged that CBS News had deceptively edited the footage from Kamala Harris’s “60 Minutes” interview to benefit the Democrat presidential nominee.READ MORE |
| Anti-Second Amendment Kamala Harris Admits She Owns a Glock HandgunDemocrat presidential nominee Kamala Harris has confessed to owning a Glock handgun, despite her own anti-Second Amendment agenda.READ MORE |
| Legal Expert: Jack Smith ‘Botched’ Trump IndictmentsA legal expert has suggested that Special Counsel Jack Smith has “botched” his indictments of President Donald Trump.READ MORE |
| Supreme Court Upholds Texas Abortion Law ExceptionThe United States Supreme Court has issued a decision that reinforces a lower court ruling on abortion law in Texas.READ MORE |
| Karine Jean-Pierre Melts Down, Storms Out of Briefing over Question about Hurricane HeleneWhite House Press Secretary Karine Jean-Pierre suffered a meltdown in front of America’s media.READ MORE |
| Tim Walz Confronted about Tiananmen Square Lies, Argues Trump Is a ‘Pathological Liar’Democrat vice presidential nominee Tim Walz deflected when he was confronted for making false statements about his whereabouts during the Tiananmen Square massacre.READ MORE |
| Florida Residents Scramble to Evacuate as Monster Storm Hurricane Milton ApproachesMillions of Florida residents are scrambling to evacuate the state as the monster Category 5 Hurricane Milton is due to make landfall today.READ MORE |
| Massive ‘Vote for Trump’ Sign Lights Up City after Judge Overrules Outraged DemocratsA city in Upstate New York now features a massive “Vote for Trump” sign lighting up the sky after a ruling from a judge.READ MORE |
| Kamala Harris Claims She Won Democrat Primary: ‘I Have to Earn Everyone’s Vote’Vice President Kamala Harris has falsely claimed that she had to “earn everyone’s vote” to win a legitimate primary to become the Democrat presidential nominee.READ MORE |
| Kamala Harris Claims She Relied on Faith When Biden Dropped Out: ‘I Needed to Talk to God’Democrat presidential nominee Kamala Harris has claimed that she relied on faith when she replaced President Joe Biden in the 2024 race after he dropped out.READ MORE |
| DeSantis Slams Kamala Harris for Playing Hurricane Politics: ‘Politicizing the Storm to Save Failing Campaign’Florida’s Republican Governor Ron DeSantis has fired back at Democrat presidential nominee Kamala Harris for playing political games as his state braces for the devastating impact of Hurricane Milton.READ MORE |
NEWS ADDICTS
| LATEST REPORTS FOR NEWS JUNKIES |
| Experts Confirm Covid ‘Vaccines’ Are Globalist Depopulation ‘Weapon’Several leading experts have concluded that Covid mRNA injections are a globalist “weapon” that has been used to reduce population numbers around the world.READ THE FULL REPORT |
| Stephen Colbert Drools over Kamala Harris in Softball InterviewJust like with The View, Kamala received a very warm welcome tonight on The Late Show.READ THE FULL REPORT |
| Tim Walz Demands ELIMINATION of the Electoral CollegeKamala’s VP pick Governor Tim Walz just called for the elimination of the electoral college at a fundraiser held by Gavin Newsom.READ THE FULL REPORT |
| Afghan terrorist ARRESTED for plotting Election Day massacre in USAn Afghan terrorist who relocated to the US after the Biden-Harris administration’s disastrous withdrawal from Afghanistan was just arrested for plotting an Election Day massacre.READ THE FULL REPORT |
| Kamala Harris admits she would NOT have done anything different than BidenKamala Harris has been billing herself as the “change” candidate in this race.READ THE FULL REPORT |
| LATEST REPORTS FOR NEWS JUNKIES |
| [VIDEOS] – Dog tied up during hurricane saved in Florida AND DeSantis wants BOOK thrown at people who did itEarlier today a dog was saved by Florida state troopers after it had been tied up and left by someone to helplessly deal with the hurricane on its own. The dog was standing in water when it was found by troopers: NEW: Florida Highway Patrol rescues a dog tied to a poll on I-75 near Bruce B Downs Blvd as …READ THE FULL REPORT |
| WATCH: Gov DeSantis WHOLLOPS Kamala, says “she has never been interested in any of the storms we’ve had” since she became VPGovernor DeSantis wholloped Kamala Harris tonight on Special Report after her continued attacks on him. In responding to a question from Bret Baier, DeSantis said: “If I honestly thought there was something to be gained, I would pick up the phone and call her. The fact of the matter is she has no role in this process. She’s not part …READ THE FULL REPORT |
| Trump campaign, Arizona GOP brings in a big gun to run election integrity operationWith early voting in Arizona already kicking off, the Trump campaign and the Arizona GOP has brought in a big gun to run their election integrity operation. And that big gun is popular Trump supporter and attorney Harmeet Dhillon, who previously ran against Ronna McDaniel to be RNC Chair. According to Trump’s campaign managers, Dhillon will “spearhead critical legal battles, …READ THE FULL REPORT |
| Fox News invites Trump and Kamala to a final debateFox News has just invited both President Trump and Kamala Harris participate in a final debate and it would take place later this month. Here’s the news: FOX News Media made a final pitch to host a debate between Vice President Kamala Harris and former President Donald Trump on Wednesday, sending letters to each campaign. FOX News Media executives sent …READ THE FULL REPORT |
| WATCH LIVE: President Trump speaks in PennsylvaniaPresident Trump is holding a rally in Scranton, Pennsylvania and you can watch it below. The rally is already in progress. It began about 5 minutes ago.READ THE FULL REPORT |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL PRICES/GAS PRICES/OIL ISSUES
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0937 DOWN 0.0005
USA/ YEN 148.93 DOWN 0.234 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 AGAIN OCT 2024/Bank of Japan raises rates by .15% to 1.15..UEDA ENDS HIKING RATES AND NOW CARRY TRADES RE INVENTS ITSELF//
GBP/USA 1.3081 DOWN .0015
USA/CAN DOLLAR: 1.3740 UP 0.0033 (CDN DOLLAR DOWN 33 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 43.07 PTS OR 1.32%
Hang Seng CLOSED UP 614.74 PTS OR 2.94%
AUSTRALIA CLOSED UP 0.50%
// EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 614.74 PTS OR 2.98%
/SHANGHAI CLOSED UP 43.07 PTS OR 1.32%
AUSTRALIA BOURSE CLOSED UP 0.50%
(Nikkei (Japan) CLOSED UP 102.93POINTS OR 0.26%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2618.15
silver:$30.68
USA dollar index early THURSDAY morning: 102.68 DOWN 2 BASIS POINTS FROM WEDNESDAY’s CLOSE.
THURSDAY MORNING NUMBERS ENDS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now your closing THURSDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 2.766% DOWN 0 in basis point(s) yield
JAPANESE BOND YIELD: +0.958% up 2 AND 4/ 10 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.001 DOWN 1 in basis points yield
ITALIAN 10 YR BOND YIELD 3.564 UP 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.2690 UP 2 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR WEDNESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0940 DOWN .0002 OR 2 basis points
USA/Japan: 148.48 DOWN 0.687 OR YEN IS UP 68 BASIS PTS//
Great Britain 10 YR RATE 4.2670 UP 4 BASIS POINTS //
Canadian dollar DOWN .0042 OR 42 BASIS pts to 1.3752
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan, CNY ON SHORE CLOSED UP 7.0745 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.0875)
TURKISH LIRA: 34.19 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +0.958
Your closing 10 yr US bond yield DOWN 2 in basis points from TUESDAY at 4.082% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.372 UP 3 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.966 DOWN 5 BASIS PTS.
GOLD AT 11;00 AM 2627.20
SILVER AT 11;00: 30.97
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: THURSDAY CLOSING TIME 11:00 AM//
London: CLOSED DOWN 84.80 PTS OR 0.72%
German Dax : CLOSED UP 44.03OR 0.23%
Paris CAC CLOSED UP 18.50 PTS OR 0.24%
Spain IBEX CLOSED UP 84.80OR 0.72%
Italian MIB: CLOSED UP 144.39 OR 0.43%
WTI Oil price 74.03 12 EST/
Brent Oil: 77.75 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 97.04 ROUBLE UP 0 AND 20/100
GERMAN 10 YR BOND YIELD; +2.2690 UP 2 BASIS PTS.
UK 10 YR YIELD: 4.2690 UP 2 BASIS POINTS
CDN 10 YEAR RATE: 3.270 DOWN 2 BASIS PTS.
CDN 5 YEAR RATE: 3.062 DOWN 4
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0926 DOWN 0.0015 OR 15 BASIS POINTS
British Pound: 1.3053 DOWN 0.0013 OR 13 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.264 UP 3BASIS PTS//
JAPAN 10 YR YIELD: 0.950
USA dollar vs Japanese Yen: 148.62 DOWN 0.540 BASIS PTS// HEADING FOR 160 TO THE DOLLAR
USA dollar vs Canadian dollar: 1.3753 UP 0.0043 CDN dollar DOWN 43 BASIS PTS
West Texas intermediate oil: 76.06
Brent OIL: 79.45
USA 10 yr bond yield UP 2 BASIS pts to 4.089
USA 30 yr bond yield UP 5 BASIS PTS to 4.380%
USA 2 YR BOND: DOWN 3 PTS AT 3.989
CDN 10 YR RATE 3.260 DOWN 3 BASIS PTS
CDN 5 YEAR RATE: 3.040 DOWN 6 BASIS PTS
USA dollar index: 102.655 UP 35 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 34.20 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 96.60 UP 0 AND 41/100 roubles
GOLD 2,630.55 3:30 PM
SILVER: 31.13 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 58.88 PTS OR 0.14%
NASDAQ DOWN 27.10 PTS OR 0.13%
VOLATILITY INDEX: 20.96 UP 0.10 PTS OR 0.48%
GLD: $242.82 UP 1.77 OR 0.73%
SLV/ $28,38 UP .51 OR 1.85%
end
USA AFFAIRS
USA TRADING TODAY IN GRAPH FORM:
Stagflation Signal Stalls Stocks; Sparks Gold Gains
Thursday, Oct 10, 2024 – 04:00 PM
Hotter than expected CPI (as food costs reignite) and ugly jobless claims data (somewhat affected by Hurricane Helene) signal stagflationary pressures may be returning…
Source: Bloomberg
…sparked some initial chaos across asset classes, pushing rate-cut expectations lower (hawkish) for 2024 but higher (dovish) for 2025…
Source: Bloomberg
Stocks ended lower (with Small Caps the biggest loser) despite a late-day panic-bid into the close…
NVDA is holding it all together…
As VIX increased (now dramatically decoupled from stocks) ahead of tonight’s TSLA robotaxi event, and tomorrow’s PPI and the beginning of earnings season…
Source: Bloomberg
Treasuries were very mixed today with the short-end outperforming (2Y -3.5bps, 30Y +4bps)…
Source: Bloomberg
…which steepened the yield curve significantly, erasing all the post-payrolls flattening…
Source: Bloomberg
The dollar rallied for the 8th day in a row – the last time this happened, The Fed had just started hiking rates in April 2022…
Source: Bloomberg
Despite the dollar’s gains, gold also rallied today…
Source: Bloomberg
Bitcoin barfed late on today, back below the $60,000 Maginot Line once again (after an SEC lawsuit against digital asset market maker Cumberland DRW sparked more regulatory FUD)…
Source: Bloomberg
Oil prices also managed solid gains today after two ugly days with WTI back above $76…
Source: Bloomberg
Finally, the fundamental contradiction at the heart of today’s price moves is most easily seen in market measures of longer inflation expectations, which are rising even as two-year yields plumb session lows.
Source: Bloomberg
As Bloomberg’s Sebastian Boyd noted, the mixed nature of today’s data means that traders are trying to express the view that inflation is still a problem, but that the labor market is maybe weakening too, which will mean The Fed goes ahead with rate cuts anyway.
MORNING TRADING/
AFTERNOON TRADING///
Wall Street Reacts To Today’s Hotter Than Expected CPI Report
Thursday, Oct 10, 2024 – 10:01 AM
On the surface, today’s PCI prints came in hotter than expected across the board, yet all were in line with whisper numbers which as we noted, were higher than consensus. To be sure, the continued surge in auto insurance, and medical costs, will come as surprise to exactly nobody…
… and if anything, some will balk at the BLS’s suggestion that auto insurance has risen “only” 56% under Biden when many have seen their auto insurance premiums double in just the past year.
Adding insult to wallet injury, food inflation is also back: five of the six major grocery store food group indexes increased. The index for meats, poultry, fish, and eggs rose 0.8% in September; the eggs index jumped 8.4%. The fruits and vegetables index increased 0.9% over the month, following a 0.2-percent decline in August. “The index for shelter rose 0.2 percent in September, and the index for food increased 0.4 percent. Together, these two indexes contributed over 75 percent of the monthly all items increase” the BLS said.
Some other notable highlights from the report:
- College textbook prices jumped 4.2%, a record monthly rise
- Admission to sporting events surged by 10.9%MoM in Sept, the biggest monthly increase on record
- Jewelry and watches rose 5.2% MoM, the biggest-ever monthly climb.
- Despite the narrative around airlines losing their pricing power, airfares rose 3.2% in the month.
And yet, there was a several silver lining to today’s report, most notably the unexpected easing in shelter/rent inflation…
…. yet even here questions emerge: just where does the BLS see this slowdown in housing costs? After all, according to both Case-Shiller and various real-time indexes, both prices are the highest they have been and are rising 6% YoY.
While that contrasting dynamic summarizes today’s CPI report, here is a sample of what some of Wall Street’s fastest-to-draw analysts and strategists had to say about today’s inflation report:
Leo He, UBS S&T
“US headline and core CPI printed 18bp m/m and 31bp m/m in September, respectively, higher than respective 0.1% and 0.2% m/m consensus. Looking at the detail, owners’ equivalent rent slowed to 33bp in September from 50bp the prior month. However, medical care services rose to 66bp from -9bp, used cars rose 0.3% m/m from -1%. Super core rose to 40bp, the highest since April.”
Ali Jaffery, CIBC Capital Markets
“Today’s data will reinforce the message that the Fed is not in a hurry. The labor market is cooling but not breaking yet, and inflation is trending a bit above target.”
Karl Schamotta, chief market strategist at Corpay
“Investors may have been overoptimistic in expecting a rapid sequence of outsized cuts after September’s decision, but a long series of gradual moves still remains the most likely outcome in coming months.”
Anna Wong, head of Bloomberg Economics
“The September CPI report contains both good and bad news about inflation. The good is that rent disinflation may finally be making faster progress. The bad is evidence that elevated inflation is lingering in some key services categories, like car repairs and insurance. Disinflation in core goods prices has stalled.
“Even so, the Fed’s preferred price gauge, the core PCE deflator (due out Oct. 31), could increase more slowly than the CPI, as has been the case in recent months. Altogether, despite the upside surprise in core CPI, we don’t think the report will do alter the FOMC’s view that inflation is on a downtrend trajectory. We expect the FOMC to cut rates by 25 basis points at the Nov. 6-7 meeting.”
Ira Jersey, head rates strategist at Bloomberg Econ
“The higher-than-expect CPI headlines should take any chance of 50-bp rate cuts off the table and may cause the market to doubt the Fed may cut another 150 bps, as priced. Our focus has been the consumer, so next week’s retail sales report is key for the Treasury-yield outlook for the rest of the month. Core services continued to moderate, and most of the upside surprise appears to have come from automobile costs, which have been extremely volatile… Less-volatile sectors within core CPI continue to trend lower, while this month it was a spike amid more volatile sectors that appear to have driven the core CPI to beat expectations. Over time, this suggests inflation will once again trend lower.”
David Russell, head of market strategy at TradeStation:
“This number might not be as bad as it looks because shelter slowed sharply. That’s important because housing costs have been the biggest lingering issue for inflation. It’s not great news overall, but it’s also unlikely to have much impact because the Fed is still early in its easing cycle. The days of CPI triggering major volatility could be fading.”
Jamie Cox, Harris Financial Group
“Disinflation continues, but anyone who thought the Fed was going to lower rates by another 50 basis points in November is dead wrong. When interest rates aren’t high enough to lower growth, they aren’t high enough to stifle inflation completely either. The Fed will lower rates, but at a measured pace from here.”
Olu Sonola, head of US econ research at Fitch Ratings
“The good news is that the trend remains broadly disinflationary, but the bad news is that services inflation is still a problem. Inflation is dying, but not dead. Coming on the heels of the surprisingly strong September employment data, this report encourages the Fed to maintain a cautious stance with the pace of the easing cycle. The likely path is still a quarter point rate cut in November, but a December cut should not be taken for granted.”
Michael Brown, Pepperstone
“Despite the stronger than expected September jobs report, and given continued disinflationary progress, 25bp cuts at each of the remaining 2 FOMC meetings this year, with that cadence of cuts likely to continue into 2025 as well, until the fed funds rate returns to a roughly neutral level around 3% next summer. This, in essence, is the ‘Fed put’, which persists in a forceful and flexible form, and continues to provide participants with confidence to reside further out the risk curve, while also leaving equity dips to remain relatively shallow, and viewed as buying opportunities.”
Florian Ielpo, Lombard Odier
“The inflation data, while generally unwelcome, plays favorably into corporate earnings, thus benefiting stocks. A significant portion of the recent gains in equities can be attributed to the dual tailwinds of lower interest rates and economic stimulus from China. However, with inflation proving stickier than expected, interest rates might face temporary upward pressure.”
Source: Bloomberg
II USA DATA
CPI
CPI hotter than expected at .3% month/month…core 3.3% year/year//annual inflation rate ticks lower to 2.4%
Consumer Prices Surge To New Record High
Thursday, Oct 10, 2024 – 08:39 AM
For the 52nd straight month, core consumer prices rose on a MoM basis in September (+0.3% MoM – hotter than the 0.2% expected) – the strongest since March. That left Core CPI YoY up 3.3%, hotter than the 3.2% expected…
Source: Bloomberg
The headline CPI also printed hotter than expected (+0.2% MoM vs +0.1% MoM exp), with the YoY CPI up 2.4% (hotter than the 2.3% expected but lowest since Feb 2021)…
Source: Bloomberg
Overall, headline consumer prices are up over 20% (5.1% p.a.) since the Biden-Harris admin took over, which compares to around 8% (1.97% p.a) during Trump’s first term…
Source: Bloomberg
The so-called SuperCore CPI also increased on a YoY basis to +4.6%…
Source: Bloomberg
Real wages are down since the start of the Biden-Harris administration…
Source: Bloomberg
Finally, we note that money supply is resurgent once again, suggesting The Fed’s confidence in CPI’s decline may be misplaced…
Source: Bloomberg
Could we really replay the ’70s once again?
Source: Bloomberg
Will that really be Powell’s legacy? Or will the timing of this resurgence in inflation be perfectly timed to coincide with Trump’s election victory… and offer a perfect patsy for who is to blame?
end
Initial jobless claims explodes
(zerohedge)
Initial Jobless Claims Exploded To 13-Month Highs Last Week
Thursday, Oct 10, 2024 – 08:52 AM
Having exposed the total decoupling from reality in initial claims recently (near multi-decade lows despite surging job cuts, weak labor market survey indicators, and higher unemployment rates), last week saw the numbers provided by the government suddenly explode higher (by the most since July 2021) to the highest since August 2023 (258k)…
Source: Bloomberg
Continuing jobless claims also spiked from 1.816mm to 1.861mm Americans…
Source: Bloomberg
Finally, of course, Hurricane Helene has had a big impact on these numbers (with North Carolina seeing a major surge in initial claims, and storm-affected states like Tennessee, Virginia and Kentucky also seeing a jump in claims), so let’s not get carried away yet that reality is leaking into these numbers.
In Michigan, layoffs were part of reduced shifts at Stellantis.
A Department of Labor comment pointed to “layoffs in the manufacturing and in management of companies and enterprises industries.”
So – to summarize – inflation printed way hotter than expected this morning and the labor market indicators crashed – good luck with that stagflationary malarkey Mr. Powell.
III USA ECONOMIC NEWS
Landfall For Powerful Hurricane Milton
Update (2045ET):
Official.
Ominous sign.
* * *
Update (2030ET)
Milton is about to make landfall as a Category 3 storm on Wednesday evening on Florida’s central west coast.
“The northern eyewall of Hurricane Milton is beginning to move onshore of the Florida Gulf Coast near Tampa and St. Petersburg, where an Extreme Wind Warning is now in effect. Please shelter in place as these extremely dangerous hurricane-force winds overspread the region,” NHC warned.
The storm’s landfall location is between Bradenton and Sarasota.
Tornado mania across South Florida.
Half a million customers are without power.
A dire warning from NWS about “catastrophic flash floods”…
Scenes from Sarasota:
Live weather cameras:
* * *
END
Picking Up The Pieces: Footage Shows Milton Pummeled Central Florida
Thursday, Oct 10, 2024 – 01:34 PM
Update (1334ET):
Milton moved into the Atlantic Ocean earlier today after making landfall on Wednseday night as a powerful Cat. 3 storm in Siesta Key, about 70 miles south of Tampa. Damage assessments are underway across central Florida as over 3 million energy customers are without power.
X users shared pictures and videos of hurricane-ravaged areas across central Florida:
h
“Milton brought *four to six Octobers’ worth of rain* to parts of Florida near Tampa!” Meteorologist Ben Noll wrote on X.
Power outages are widespread, totaling 3.5 million earlier today.
Another track of the storm shows it cutting through the central part of the state.
Storm surge ravaged neighborhoods.
Lots of wind damage.
More hurricane coverage:
Major problem” Electric vehicles coming in contact with flood waters will corrode and cause fires!
(EpochTimes)
Florida Officials Warn Of Electric Vehicle Fires Sparked By Hurricane Milton
by Tyler Durden
Thursday, Oct 10, 2024 – 01:00 PM
Authored by Chase Smith via The Epoch Times (emphasis ours),
Officials in Florida have warned of the fire danger posed by electric vehicles (EVs) that are inundated by floodwaters as Hurricane Milton began its assault on the Sunshine State on Oct. 9.
Tampa Mayor Jane Castor reminded residents in a press conference early Wednesday that city garages were left open and urged electric vehicle owners in particular to take advantage of the upper floors in garages to avoid flood and fire risk.
“You can put your electric vehicles up high,” Castor said in the press conference. “Make sure you are elevating all those electric batteries and electric items as well because those batteries—once they start on fire—they cannot be extinguished.”
She added that some houses were lost during Hurricane Helene two weeks ago to fires sparked by saltwater flooding electric vehicles.
Prior to that storm, Florida Gov. Ron DeSantis also warned residents of the risk of fire from electric vehicles and flood waters, as contact with saltwater can short-circuit the batteries, causing a chain reaction known as thermal runaway in which heat energy is released from the battery to cause a fire.
The City of Tampa mobility department noted all parking fees were removed in anticipation of Hurricane Milton to encourage more EV users to take advantage of above-ground parking.
“During Hurricane Helene, at least two house fires were caused by electric vehicle batteries that came in contact with floodwater,” the city added in a notice to residents on Wednesday.
Tampa’s warning to its residents is an example of broader concerns of EV-related flood and fire risk, as Florida CFO and State Fire Marshal Jimmy Patronis on Monday called on EV manufacturers to take steps to protect lives during Hurricane Milton.
“The CFO’s Division of State Fire Marshal has confirmed 48 lithium-ion battery fires related to storm surge from Hurricane Helene, with 11 of those fires associated with EVs,” the agency said in a fire safety alert to Florida residents. “Consumer items containing lithium-ion batteries include cars, scooters, hover boards, golf carts or children’s toys. The CFO also called on EV manufacturers to be pro-active by alerting consumers to place their EVs to higher ground.”
Patronis said if residents have one of these vehicles, scooters, hoverboards, golf carts or children’s toys that have been compromised by flooding, they should be unplugged and moved safely away from homes and apartments into open spaces.
“If a vehicle needs to be towed, contact a reputable tow company in your area to safely remove it from your property,” he added. “EVs and lithium-battery powered devices cannot be disposed of in a typical car lot or trash bin, so you will also want to contact your local government on the best locations for safe disposal.”
He also issued a plea to EV manufacturers in the United States to be proactive in notifying their customers of such risks.
“As I’ve stated before, these compromised vehicles and devices are ticking time bombs, and my office will continue to coordinate with federal, state, and local officials to ensure consumers and first responders are aware of these fire hazards following Hurricane Milton,” Patronis added. “After the storm, if you do have an EV that has been flooded by saltwater and it remains in your garage or near your home, please remove it immediately to a safe location so that you can worry about fixing your home, instead of rebuilding it due to fire.”
The fire marshal says to ensure safety, keep all windows and doors open to allow any flammable gasses to vent from the vehicle’s passenger compartment.
Other tips include, if stored indoors, moving the vehicle outside if possible; otherwise, keeping the area well-ventilated.
Do not charge the vehicle, and disable it by chocking the wheels, placing the gearshift in park and disconnecting the ignition key or 12V battery.
Avoid contact with high-voltage batteries, especially if there are signs of damage or overheating; and always follow the manufacturer’s guidelines for your specific vehicle.
Tesla, one of the most popular EV manufacturers, issued guidance on its website for owners who have or may encounter a flooding event. The company recommends moving EVs to higher ground ahead of potential “submersion events” and immediately stepping away and contacting first responders if one notices “fire, smoke, audible popping/hissing or heating coming from your vehicle.”
Even in the absence of those signs, owners are urged to call their insurance companies if water has reached the vehicle’s battery so it can undergo a safety inspection. For Tesla owners, Tesla Service will offer an inspection, and Tesla Roadside Assistance can tow the vehicle to a safe 50-foot distance away from any structures or other vehicles.
Similar issues came to light after Hurricane Ian in 2022, when Patronis said many EVs were disabled.
“As those batteries corrode, fires start,” he said at the time. “That’s a new challenge that our firefighters haven’t faced before. At least on this kind of scale.”
EV fires after hurricanes were first reported following Superstorm Sandy in New Jersey in 2012.
Allen Zhong and Jacob Burg contributed to this report.
America’s Homeless Population Reaches Record High Under Biden-Harris Admin
Wednesday, Oct 09, 2024 – 11:00 PM
According to the U.S. Department of Housing and Urban Development’s latest report on homelessness in the United States, 653,104 Americans were homeless in 2023.
Last year, levels of homelessness climbed for the sixth year.
While in 2017 and 2018, growth was slow, Statista’s Katharina Buchholz reports that homelessness increased more in 2019 and 2020 and finally skyrocketed in 2023 by growing 12 percent compared to the year prior and even climbing 10 percent above the 2007-2022 average.
You will find more infographics at Statista
As Covid-era protection programs expired and the cost-of-living crisis hit the country, homelessness numbers rose.
At the same time, Covid restrictions on shelter capacity ended, leading to more homeless individuals living in shelters once again.
During Covid-19, most of the increase in homeless populations had come from unhoused individuals.
In 2023, sheltered populations rose by almost 14 percent, while unhoused populations rose by less than 10 percent.
However, the share of the sheltered homeless population held steady at around 60-61 percent since the pandemic started.
Despite previous increases, the number of people experiencing homelessness on a single night in January when the count is carried out had always stayed below Great Recession levels, which had been highest in 2007 when the data was first reported.
The 2023 number now retired that record, surpassing it by 1 percent.
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
TUCKER CARLSON..
SWAMP STORIES
KING REPORT
| The King Report October 10, 2024 Issue 7345 | Independent View of the News |
| Asian stocks cratered on Wednesday because no stimulus appeared or was insinuated. US stocks rallied sharply while bonds declined modestly in early NYSE trading. The biggest impetus for the rally was the belief/hope/desire that the September CPI Report would be in-line or better. There is also belief that ‘they’ will NOT allow the last CPI Report before the election to be ‘bad.’ Iran: There Won’t Be a War but We’ll Hit Back if Attacked – BBG 11:20 ET Iran’s Jabbari: We’re Prepared to Launch 1000s of Missiles at Israel – BBG 11:20 ET Jabbari: We’ll Hit Israeli Military, Economic Sites if Attacked – BBG 11:20 ET DOJ indicates it’s considering Google breakup following monopoly ruling https://t.co/BWC3E78Xs5 ESZs traded lower when the Nikkei opened and proceeded to decline due to carnage in Chinese stocks. Eventually, ESZs hit a daily low of 5780.75 nine minutes after the 3 ET European opening. ESZs did the ’45-degree angle’ rally until 6:46 ET. ESZs then traded sideways until buying for the NYSE opening commenced at 9:06 ET. Selling appeared just before the NYSE opening but ended at 9:34 ET. Aggressive and persistent buying pushed ESZs to a daily high of 5840.00 at 11:58 ET. ESZs had an A-B-C decline to 5818.75 at 13:53 ET. Conditioned buying for the release of FOMC Minutes at 14:00 ET boosted ESZs to 5830.50 at 14:05 ET. FOMC Minutes from September 17-18 Meeting Highlights per BBG ‘Substantial majority’ backed half-point rate cut ‘Some’ officials would have preferred quarter-point cut All participants supported lowering rates ‘Almost all’ officials saw higher risks to labor market ‘Almost all’ participants saw lower inflation risks Reduction of balance sheet can continue for some time Bottom line: The FOMC was more divided about the size of the rate cut than expected; but Powell pushed for the jumbo rate cut. BBG’s Chief US Economist @AnnaEconomist: FOMC minutes basically showed the Powell basically pushed the committee to do 50 bps in September… In equation form, it can be summarized as: In 50 camp: SOME + A FEW In 25 camp: SEVERAL + SOME SEVERAL+SOME >>> SOME+A FEW 25 bps >>> 50 bps Will the opposition demand their pound of flesh in the future? https://x.com/AnnaEconomist/status/1844096001998778411 WSJ: Fed Minutes Reveal Divide Over Size of September Rate Cut https://www.wsj.com/economy/central-banking/fed-minutes-reveal-divide-over-size-of-september-rate-cut-f519bc17?st=6tHeJL After the release of the FOMC Minutes, ESZs went inert. The late rally commenced at 15:17 ET; but it was labored. ESZs rose to a new daily high of 5846.50 at 15:52 ET and then slid to 5835.00 at 16:02 ET. Positive aspects of previous session US equity indices, ex-the DJUA, rallied sharply; the S&P 500 and the DJIA hit record highs. Oil and gasoline declined moderately. Negative aspects of previous session Bonds declined again; USZs were -12/32 at the NYSE close. Ambiguous aspects of previous session What is Mr. Bond’s unhappiness forecasting? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5777.95 Previous session S&P 500 Index High/Low: 5796.80; 5745.02 @rich_goldberg: “The U.S. official said the U.S. wants to make sure Israel attacks targets in Iran that are significant without being disproportionate.” Iran launched 181 ballistic missiles at a country the size of New Jersey. The comment is disproportionately idiotic. https://t.co/GYbIIhkLAz Whistleblower claims Secret Service ‘painting a false picture’ of protection for Trump: Sen. Hawley The whistleblower allegations claim government auditors are being denied access to certain Trump campaign event https://www.foxnews.com/us/whistleblower-claims-secret-service-painting-false-picture-protection-trump-hawley GOP Rep. @RepThomasMassie: Yesterday in @Weaponization, I questioned Inspector General Horowitz about the number of confidential human sources who entered the Capitol on 1/6. Horowitz said the number won’t be known before the election. Today – With the strong rallies on Tuesday and Wednesday ahead of the release of the September CPI Report, stocks are vulnerable to profit taking (‘sell the fact’) after the report is released. If CPI is higher than expected and stocks sink, astute traders will look to see if someone tries to save stocks with impact trading. Discerning traders and investors should focus on how bonds react today. ESZs are -3.75; NQZs are -22.00; and USZs are -2/32 at 20:10 ET. Expected econ data and events: Sept CPI 0.1% m/m & 2.3% y/y, Core 0.2% m/m &3.2% y/y; Initial Jobless Claims 230k, Continuing Claims 1.83m; Fed Gov. Cook 9:15 ET, Richmond Fed Pres Barkin 10:30 ET, NY Fed Pres Williams 11:00 ET S&P Index 50-day MA: 5572; 100-day MA: 5507; 150-day MA: 5389; 200-day MA: 5269 DJIA 50-day MA: 41,055; 100-day MA: 40,246; 150-day MA: 39,770; 200-day MA: 39,381 (Green is positive slope; Red is negative slope) S&P 500 Index (5792.04 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5033.40 triggers a sell signal Weekly: Trender and MACD are positive – a close below 5392.06 triggers a sell signal Daily: Trender is positive; MACD is negative – a close below 5648.06 triggers a sell signal Hourly: Trender and MACD are positive – a close below 5755.42 triggers a sell signal @TrumpWarRoom: Colbert: What would you do differently than Joe Biden? Kamala: “I’m obviously not Joe Biden. So, that would be one thing. But also, it’s important to say with 28 days to go I’m not Donald Trump. When you think about the significance of what this next generation of leadership looks like were I to be elected president it is about frankly I, I, I love the American people and I believe in our country… I love that it is our character and nature to be an ambition people… We have aspiration, we have dreams; we have incredible work ethic…we can create I just believe that we can create and build upon the success we achieved in a way to continue to grow opportunity… https://t.co/qGivPM1ByN @DC_Draino: This is pathetic to watch. Kamala drinking a beer on Colbert to seem relatable… https://twitter.com/DC_Draino/status/1843851767458738596?s=02 (Nothing shows concern about Floridians about to be hammered by huge hurricane like giggling, cackling, and drinking a beer with an effete and sycophantic talk show host!) A few day’s ago, NBC’s Andrea Mitchell noted that Kamala Harris has a problem with men and business leaders because they view her as a lightweight. How does drinking a beer with the trifling Colbert and playing stooge for the puerile Howard Stern dispel that notion? @SteveGuest: NEW ACCENT ALERT – Kamala breaks out a Jamaican accent while talking to Stephen Colbert. But that’s not all, despite a childhood in California & Montreal, Canada, Kamala uses what she thinks is a Latina accent, a Detroit accent, a southern accent, a French accent, and more… https://x.com/SteveGuest/status/1844033116090077413 @paulsperry_: SCOOP: Trump campaign insiders say they are confident Trump will take MICHIGAN and its 15 electoral votes based on focus groups w/ Muslims who say they’d “never vote for a woman,” and on Cornel West & Jill Stein bleeding off votes from Kamala. Stein got 51,463 Mich votes in 2016 @greg_price11: Kamala Harris is currently getting briefed on Hurricane Milton and got caught in 4k telling her handlers “It’s a live broadcast” while being fed the questions to ask. LMFAO https://x.com/greg_price11/status/1844064081831133556 @CollinRugg: Kamala Harris struggles through a live broadcast on Hurricane Milton, covers her mouth to tell her staff she is on a live broadcast before stumbling while reading prepared notes. “It’s a live broadcast,” Harris told her team before reading their notes. “To the people of Florida, and in particular… the people of the uh Tampa resid… um, region, we urge you to take this storm seriously.” https://x.com/CollinRugg/status/1844070610353418493 @AceofSpadesHQ: Is literally no one in the Truth Telling Media ever going to note that Kamala Harris often appears under the influence by 2pm? https://x.com/AceofSpadesHQ/status/1844072419113521335 @paulsperry_: Stung by criticism over their Helene response, Biden & Kamala just gave extraordinary “Words Matter” Zoom briefing blaming criticism on “disinformation” ahead of Milton. “Trump has led the onslaught of lies,” Biden complained while complimenting Kamala for “helluva job.” (What did Kamala do? Joe didn’t say!) Kamala just now called into CNN’s Dana Bash to complain about “disinformation” over her response to Helene & limited FEMA funds being spent on illegal migrants (fact-check: True). She claimed “so-called leader” Trump is making people “more afraid” with “disinformation.” Harris’s desperate call into Dem-friendly CNN did NOT go well. After Kamala read the talking points about the hurricane, Bash asked Harris about the WH call with Bibi. Because she is addled without talking points or notes, Harris disassembled and used the ‘it’s classified’ excuse. She didn’t even quote or paraphrase WH or Israel-issued statements about the phone call! @IsraelRadar_com: White House says Biden-Netanyahu talk was “direct and productive”; Israeli source says atmosphere was positive, call focused on Israeli response to Iran, @N12News reports. No details released on Israeli strike plans. Netanyahu & Biden discussed Israeli strike options against Iran, @N12News reports; PM asked for American backing for Israeli action; meanwhile, Al Arabiya reports that pro-Iran militias in Iraq are evacuating command centers in Baghdad for fear of IDF attack. AXIOS: After his call with Netanyahu, Biden stated that the U.S. “fully supports Israel’s right to defend itself against Iran and its proxies.” @Doranimated: The political correspondent of Israel’s Channel 14, reports that Israel significantly toughened its position on a ceasefire in Lebanon. Before Israel decapitated Hezbollah, it was willing to compromise by accepting a very partial implementation of UN Security Council Resolution 1701. Adopted in 2006 after the Second Lebanon War, 1701 calls for Hezbollah to withdraw north of the Litani River and for Lebanon to implement UN Resolution 1559, which states that Hezbollah must disarm. Before it gained the upper hand in the war, Israel was ready to abandon entirely the disarmament element of 1701, and to water down significantly the demilitarization of the south by accepting only a partial withdrawal of Hezbollah’s forces — to a distance of some 10 km from the border. Israel has now informed the Americans and the French that Israel demands the full implementation of 1701, which entails the disbanding of Hezbollah as an armed militia, leaving it as a political party only. @joma_gc: Kamala is asked what the federal government plans to do to help make homeowner’s insurance more affordable. No answer. No plan. Nothing to reassure people in the path of Milton. (Kamala: “It’s a big issue, Mike… I was Attorney General for two terms in California dealing with this around wildfires … I’m gonna be taking a look at all the options because I know it is a big issue…” https://x.com/joma_gc/status/1844096925093724550 @JacquiHeinrich: FL GOV @RonDeSantis to @BretBaier (Wed. night) on calls from VP Harris: DeSantis: “If I honestly thought there was something to be gained, I would pick up the phone and call her. The fact of the matter is she has no role in this process. She’s not part of the chain of command. I am working with President Biden, FEMA, state and local partners, and we’re getting the job done. She has never been interested in any of the storms we’ve had in the state of Florida her entire time as Vice President. Now she’s out there attacking me because I’m not catering to her whims? All she’s trying to do is inject herself to be a part of her political campaign. I don’t have time for political games. I’ve got a job to do, we’ve got people’s lives on the line, and that is our sole focus.” Tim Walz calls for elimination of Electoral College at California fundraiser, says ‘it needs to go’ https://t.co/935A6HKm9w @joma_gc: Whatever was left of Joe’s dignity. Once again, Joe’s been demoted to the Fisher-Price Resolute Desk. https://x.com/joma_gc/status/1844058439406039476 @nedryun: Seriously @UnivOfKansas? You’re letting this be said in your classrooms? That men who won’t vote for Kamala Harris for President should be lined up and shot?? https://x.com/nedryun/status/1843991931530993667 @UnivOfKansas: A statement from the university regarding a classroom video. https://x.com/UnivOfKansas/status/1844066744018796645 CBS instructs its journalists: “Do not refer to [Jerusalem] as being in Israel.” https://www.thefp.com/p/does-cbs-news-know-where-jerusalem Shari Redstone rips CBS clampdown on Tony Dokoupil after heated interview on ‘apartheid’ Israel: ‘Tony did a great job’ – Shari Redstone, the chair of CBS parent Paramount Global, ripped the Tiffany Network over its clampdown on “CBS Mornings’” co-host Tony Dokoupil following his heated interview about Israel with author Ta-Nehisi Coates… https://nypost.com/2024/10/09/media/shari-redstone-rips-cbs-clampdown-on-tony-dokoupil-interview-with-ta-nehisi-coates/ CBS News Has a Scandal on Their Hands Former President Donald Trump and his campaign are demanding the entire 60 Minutes interview be released without edits… https://townhall.com/tipsheet/katiepavlich/2024/10/09/fresh-off-the-vp-debate-cbs-news-has-a-scandal-on-their-hands-editing-kamala-n2645952 Ex-CBS News reporter says there’s ‘precedent’ for releasing full interview transcript — when it came to Donald Trump https://trib.al/fYHnUJI Quinnipiac, which has historically greatly understated Trump’s strength post these new polls: Michigan: Sept 16: Harris +5, Oct 9: Trump + 3; Wisconsin: Sept 16: Harris +1, Oct 9: Trump +2; Pennsylvania: Sept 16: Harris +5, Oct 9: Harris +3 (Hillary +7 in October 2016; Biden +10 in Oct 2020) https://www.politico.com/story/2016/10/clinton-trump-national-poll-who-is-winning-229995 https://poll.qu.edu/images/polling/us/us10222020_udxf16.pdf @MrAndyNgo: Video has been released showing former New York Gov. David Paterson, who is blind, being beaten with his stepson in Manhattan: https://x.com/MrAndyNgo/status/1844129737968635920 | |
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