GOLD PRICE CLOSED UP $36.55 TO $2658.95

SILVER PRICE UP $0.53 TO $31.54

Gold ACCESS CLOSED $2657.20

Silver ACCESS CLOSED: $31.57

Bitcoin morning price:$61,058 UP 1702 DOLLARS.

Bitcoin: afternoon price: $63,350 up 3994 DOLLARS

Platinum price closing UP $16.45 TO $985.35

Palladium price; UP 7.30 TO $1065.40

END

*CANADIAN GOLD: $3656.15 UP 36.56 CDN dollars per oz( * NEW ALL TIME HIGH 3,656.15 CDN DOLLARS PER OZ//OCT 11 2024)

*BRITISH GOLD: 2032.67 UP 16.80 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2032.67 BRITISH POUNDS/OZ) OCT 11/2024

*EURO GOLD: 2,429.28 UP 21.07 Euros per oz //* (ALL TIME CLOSING HIGH: 2.429.28 EUROS PER OZ//OCT 11 //.2024)

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EXCHANGE

EXCHANGE: COMEX
CONTRACT: OCTOBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,620.600000000 USD
INTENT DATE: 10/10/2024 DELIVERY DATE: 10/14/2024
FIRM ORG FIRM NAME ISSUED STOPPED

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118 C MACQUARIE FUT 100
190 H BMO CAPITAL 383
657 C MORGAN STANLEY 283 4
737 C ADVANTAGE 4

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TOTAL: 387 387

---

JPMorgan stopped 0/387

GOLD: NUMBER OF NOTICES FILED FOR OCT/2024. CONTRACT: 387 NOTICES FOR 38,700 OZ  or  1.2037 TONNES

total notices so far: 12,395 contracts for 1,239,500 Oz (38.517 tonnes)

FOR  OCT

SILVER NOTICES: 3 NOTICE(S) FILED FOR 15,000 OZ/

total number of notices filed so far this month : 1292 for 6.460 million oz

XXXXXXXXXXXXXXXXXX

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GLD/

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

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

WITH GOLD UP $36.55 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 $0.53 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY INTO THE SLV: A WITHDRAWAL OF 932,000 OZ FROM THE SLV.

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 470.520 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A GOOD SIZED 301 CONTRACTS TO 140,852 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS GOOD GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR GAIN OF $0.58 IN SILVER PRICING AT THE COMEX ON THURSDAY’S TRADING. WE HAD A STRONG GAIN OF 401 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH THE GAIN IN PRICE. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS. //. WE HAD ZERO SHORT COVERING BY OUR SPECS WITH THE MUCH HIGHER PRICE DURING THE COMEX TIME ZONE..  WE HAD A SMALL 120 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A HUMONGOUS 745 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING. IN ESSENCE WE GAINED A STRONG 401 CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE BUT THAT NUMBER OF GAINED 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 THURSDAY NIGHT: A HUGE 745 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 58 CENTS AND WERE UNSUCCESSFUL IN KNOCKING SOME NET SILVER LONGS FROM THEIR PERCH AS WE HAVE A STRONG GAIN OF 401 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES

WE HAD A SMALL 120 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 15,000 OZ QUEUE JUMP//NEW TOTAL 6.470 MILLION OZ

//NEW STANDING FOR SILVER//OCT AT 6.470 MILLION OZ

WE HAD:

/ GOOD SIZED COMEX OI GAIN//SMALL SIZED EFP ISSUANCE/ VI)  HUMONGOUS SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 715 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 121 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 9 DAYS, total 5721 contracts:   OR 28.605 MILLION OZ  (635 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  28.605 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; 28.605 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH)

RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 301  CONTRACTS WITH OUR $0.58 GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,.  THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE  CONTRACTS: 120 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 15,000 OZ

//NEW TOTAL STANDING FOR OCT AT 6.470 MILLION OZ 

WE HAVE A STRONG GAIN OF 401 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 745 CONTRACTS (USED FOR YESTERDAY’S TRADING),//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION.

/ ZERO SHORT COVERING FROM OUR SPEC SHORTS WITH THE GAIN IN PRICE THURSDAY/ . 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 THURSDAY NIGHT   (745) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND LATELY ON A DAILY BASIS INCLUDING TODAY.

WE HAD 3 NOTICE(S) FILED TODAY FOR 15,000 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 STRONG SIZED 9270 OI CONTRACTS  TO 531,106 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 109 CONTRACTS//

WE HAD A STRONG SIZED INCREASE  IN COMEX OI (9270 CONTRACTS) OCCURRED WITH OUR GAIN OF $14.50 IN PRICE /THURSDAY. 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 30,100 OZ QUEUE JUMP

NEW STANDING ADVANCES TO  38.836 TONNES+ 20.174 TONNES EXCHANGE FOR RISK/PRIOR// = 59.010 TONNES

/ ALL OF THIS HAPPENED WITH OUR $14.50 GAIN IN PRICE  WITH RESPECT TO THURSDAY’S COMEX TRADING///. WE HAD A VERY STRONG SIZED GAIN OF 11,123 OI CONTRACTS (34.59 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 THROUGHOUT THE WEEK WITH MAJOR 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 1853 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 531,215

IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 11,123 CONTRACTS  WITH 9270 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 1853 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 11,123 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A HUMONGOUS SIZED 2373 CONTRACTS, WE HAD SOME LIQUIDATION OF T.A.S CONTRACTS WITH OUR GAIN IN PRICE YESTERDAY.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1853 CONTRACTS) ACCOMPANYING THE STRONG SIZED INCREASE IN COMEX OI OF 9,270 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 11,123 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 30,100 OZ QUEUE JUMP

//NEW STANDING ADVANCES TO TO: /OCT 38.836 TONNES. + 20.174 EX, FOR RISK/PRIOR = 59.010 TONNES

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

  4)  STRONG SIZED COMEX OPEN INTEREST INCREASE 5)  STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///HUGE T.A.S.  ISSUANCE: 2373 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: 31,411 CONTRACTS OF 3,141,100 OZ OR 97.701 TONNES IN 9 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 9 TRADING DAY(S) IN  TONNES  97.701 TONNES

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

THUS EFP TRANSFERS REPRESENTS  97.701 DIVIDED BY 3550 x 100% TONNES = 2.75% 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. 97.701 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 ROSE BY A GOOD SIZED  301 CONTRACTS OI  TO 140,852 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 110 CONTRACTS

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

DEC 110 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 110 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI GAIN OF 301   CONTRACTS AND ADD TO THE 110 E.FP. ISSUED

WE OBTAIN A STRONG SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 401 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 2.005 MILLION OZ OCCURRED WITH OUR  $0.58 GAIN  IN PRICE  

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

FRIDAY MORNING THURSDAY  NIGHT

ASIA TRADING/FRIDAY MORNING/THURSDAY  NIGHT

SHANGHAI CLOSED DOWN 84.79 PTS OR 2.55%

//Hang Seng CLOSED

// Nikkei CLOSED UP 224.91 PTS OR 0.57%//Australia’s all ordinaries CLOSED DOWN 0.08%///Chinese yuan (ONSHORE) CLOSED UP TO 7.0622 CHINESE YUAN OFFSHORE CLOSED UP TO 7.0747 Oil UP TO 75.17dollars per barrel for WTI and BRENT UP AT 78.78 Stocks in Europe OPENED ALL RED

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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A VERY STRONG SIZED 9270 CONTRACTS TO 531,106 WITH OUR CONSIDERABLE GAIN IN PRICE OF $14.50 WITH RESPECT TO THURSDAY’S TRADING. WE LOST ZERO IN NUMBER LONGS WITH THE HIGHER PRICE FOR GOLD AS YOU WILL SEE BELOW. WE HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1853). 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 IS THE MAJOR ISSUE OF THE DAY!

OUR PHYSICAL LONDONERS BOUGHT NEW MASSIVE QUANTITIES OF LONGS AT ANY PRICE 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 THURSDAY’S GAIN IN PRICE BUT AGAIN AS WITH THURSDAY’S TRADING, ZERO LONGS BEING CLIPPED (AS YOU WILL SEE BELOW). 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! YOU CAN VISUALIZE THAT PERFECTLY WITH THE HUGE AMOUNTS OF QUEUE JUMPING ORCHESTRATED BY CENTRAL BANKERS JUMPING AHEAD OF ORDINARY LONGS AS THEIR NEED FOR PHYSICAL IS GREAT AS THEY SCOUR FOR GOLD ON THIS SIDE OF THE PLANET.

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 HUGE SIZED 2373 EFP CONTRACTS WERE ISSUED: :  /DEC  2373 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2373 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 VERY STRONG SIZED TOTAL OF 11,123 CONTRACTS IN THAT 2373 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG GAIN OF 9270 COMEX  CONTRACTS..AND THIS VERY STRONG GAIN  ON OUR TWO EXCHANGES HAPPENED WITH OUR  GAIN IN PRICE OF $14.50 THURSDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED  ABOVE.

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS 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 THURSDAY NIGHT, A HUGE SIZED 2373 CONTRACTS,  WAS USED TO REPLENISH SUPPLIES.. ALMOST ALL OF THE TRADING AND SUPPLY OF CONTRACTS  WAS ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK)

THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD WHICH  OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR STRONG T.A.S. ISSUANCE (AND SPREADERS LATE IN THE MONTH). THE USE OF T.A.S. IS OF EXTREME IMPORTANCE TO OUR CROOKS IN LAST WEEK’S AND THIS WEEK’S TRADING AND RAIDS.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   OCT (59.010 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 38.836TONNES + 20.174 TONNES EXCHANGE FOR RISK =59.010 TONNES

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $14.50/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A VERY STRONG SIZED GAIN IN OUR TWO EXCHANGES. WE DID HAVE CONSIDERABLE T.A.S. SPREADER LIQUIDATION THURSDAY. CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL THURSDAY EVENING.

WE HAVE GAINED A TOTAL OF 34.936 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 30,100 OZ QUE JUMP………………..

//NEW STANDING FOR OCT 38.836 TONNES.+ 20.174 TONNES (EXCHANGE FOR RISK)

NEW STANDING FOR OCT 38.836 TONNES + 20.174 TONNES EXCHANGE FOR RISK= 59.010 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE  TO THE TUNE OF $14.50

WE HAD 109 CONTRACTS REMOVED  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 11,123 CONTRACTS OR 1,112,300 OZ (34.53 TONNES)

confirmed volume THURSDAY 230,593 contracts FAIR

//speculators have left the gold arena

END

OCT 11  OCT  GOLD CONTRACT

/ /// THE OCT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	nil           .
Deposit to the Dealer Inventory in oz	NIL
Deposits to the Customer Inventory, in oz	nil oz
No of oz served (contracts) today	387 notice(s) 38700 OZ 1.2037TONNES
No of oz to be served (notices)	91 contracts    9100 OZ 0.2831 TONNES
Total monthly oz gold served (contracts) so far this month	12,395 notices 1,239,500oz 38.517TONNES
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: 0

TOTAL WITHDRAWALS: nil oz

adjustments: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.

For the front month of OCT: we have an oi of 478 contracts having GAINED 274 contracts.

We had 27 contracts filed on THURSDAY so we GAINED a whopping 301 contracts on our two exchanges or 301 CONTRACTS underwent a huge 30,100 oz queue jump. This is central bank action grabbing all the physical they can.

NOVEMBER GAINED 77 CONTRACTS TO STAND AT 1521

DECEMBER, THE BIGGEST DELIVERY MONTH GAINED 1692 CONTRACTS TO 436,067

We had 387 contracts filed for today representing 38700 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 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 387 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 (12,395x 100 oz ) to which we add the difference between the open interest for the front month of  OCT(478 CONTRACTS)  minus the number of notices served upon today  (387 x 100 oz per contract( equals  1,248,600 OZ  OR 38.886 TONNES. TO WHICH WE ADD THAT STUPID 20.174 TONNES OF EXCHANGE FOR RISK, NEW TOTAL = 59.010 TONNES (CORRECTED FROM YESTERDAY)

thus the INITIAL standings for gold for the OCTOBER contract month:  No of notices filed so far (12,395 x 100 oz +we add the difference for front month of OCT  (478 OI} minus the number of notices served upon today (387 x 100 oz which equals  1,248,600 oz (36.886 TONNES + 20.174 EX. FOR RISK DELIVERY = 59.010 TONNES(CORRECTED FROM YESTERDAY)

TOTAL COMEX GOLD STANDING FOR OCT.: 58.010 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 11 2024

INITIAL

//2024// THE OCT 2024  SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	9029.38 oz Delaware .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	NIL
No of oz served today (contracts)	3CONTRACT(S)    (15,000 OZ)
No of oz to be served (notices)	2 contracts  (10,000oz)
Total monthly oz silver served (contracts)	1292Contracts  (6.460 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit/

total dealer deposit : NIL oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  0 customer deposits

total customer deposits NIL oz

We had 1 withdrawals

i) out of Delaware: 9029.38 oz

total withdrawal 9029.38 oz

JPMorgan has a total silver weight: 134.996million oz/306.014million  or 44.41%

adjustment 0

TOTAL REGISTERED SILVER: 70.864MILLION OZ//.TOTAL REG + ELIGIBLE. 306.014million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR OCT

silver open interest data:

FRONT MONTH OF OCT /2024 OI: 5 OPEN INTEREST FOR A GAIN OF 2 CONTRACTS

WE HAD 1 CONTRACTS SERVED ON THURSDAY SO WE GAINED 3 CONTRACTS OR WE ENTERTAINED A 15,000 OZ QUEUE JUMP

NOVEMBER SAW A GAIN OF 5 CONTRACTS TO STAND AT 672

DECEMBER SAW A LOSS OF 313 CONTRACTS DOWN TO 117,313 CONTRACTS

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 3 for 15,000 oz

CONFIRMED volume; ON THURSDAY 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 1292x 5,000 oz = 6.460 MILLION oz 

to which we add the difference between the open interest for the front month of OCT (5) and the number of notices served upon today (3)x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the OCT2024 contract month:  1292 Notices served so far) x 5000 oz + OI for the front month of OCT(5) number of notices served upon today minus (3)x 5000 oz of silver standing for the OCT contract month equates to 6.470 MILLION OZ. 

 New total standing: 6.470 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 11 WITH GOLD UP $36.55 ON THE DAY; NO CHANGES IN GOLD AT THE GLD; // . // .///INVENTORY RESTS AT 876.26 TONNES

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 53 CENTS : HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 932,000 OZ FORM THE SLV. //INVENTORY AT SLV RESTS AT 470.520 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 470.520 MILLION 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:

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

ALASDAIR MACLEOD….

Asian buying returns

Gold and silver are now nicely set up for higher prices in the runup to the BRICS summit in eleven days’ time. But after that, will there be profit-taking and a pull-back consolidation?

Alasdair MacleodOct 11∙Paid

READ IN APP

After a sell-off on Wednesday completing a 10-day consolidation, spot gold saw a resumption of overnight (Asian) demand last night, to trade at $2641 in early morning European trade, down only $11 on the week. After peaking at $32.96 intraday last Friday, spot silver sold off down to $30.14 before recovering to $31.15 this morning, for a net loss of $1.00 on the week.

The temporary absence of Chinese demand coincided with the Golden Week holiday, with dealers returning on 8 October. It gave market-makers and bullion bank traders an opportunity to shake out speculative longs in western derivative markets. But Comex saw gold’s Open Interest decline by a paltry 11,000 contracts, before buyers stepped in buying all their positions back in only two sessions.

In silver, Open Interest fell by 4,200 contracts before recovering only 422 of them on preliminary figures yesterday. Despite all the volatility from the start of Golden Week, the price is unchanged, a remarkable demonstration of the failure of the bullion establishment to reduce their short positions. The charts below, of Open Interest and price for gold and silver are worth more than a cursory glance.

Silver is particularly interesting, showing how despite a downtrend in Open Interest, the price has been in an uptrend since mid-August. This is a clear demonstration of a systemic bear squeeze on the Swaps.

Returning to gold, this market has a strong underlying feel to it, demonstrated by the technical chart below, which suggests that the price has sufficient underlying momentum to run away to the upside, now that this brief consolidation appears to be over:

While technical analysis is far from infallible, reading this chart suggests that $2750 is a minimum target for traders, before a longer consolidation allows the moving averages to catch up. Meanwhile, silver is also looking bullish:

It looks like the consolidation level (the pecked line) has now succumbed with a break-out on the upside, and the 55-day moving average is turning up sharply. A runup to roughly $37, maybe more, seems likely in the short-term.

We can see that technical considerations for both gold and silver are likely to drive both markets into overbought conditions. The timing coincides with the runup to the BRICS summit at Kazan on 22—24 October, only 11 days away. The reason this is important is because of speculation that a new trade settlement currency based on gold will be on the agenda. In other words, this is a potential development which is to some extent discounted already.

Experienced traders know to buy the rumour and sell the fact. Even if a new gold-backed currency project is announced, after initial excitement profit taking will probably set in. Even worse, if there is no announcement the setback could be significant. Therefore, the patterns revealed in the technical charts of a further run into higher prices before a broader consolidation is confirming a likely trading outcome.

However, in the knowledge that the underlying fundamentals for fiat currencies are deteriorating badly stackers are unlikely to be perturbed by these short-term trading factors. Furthermore, bond yields are rising again, despite hopes for lower interest rates as the chart for the 10-year US Treasury note demonstrates:

The 55-day MA is now turning up, indicating that the 10-month decline in yields may be over. A little further to the region of the 200-day MA and then some consolidation before 5% is challenged, following a progression higher towards 8%+ is in prospect. Is this a headwind for gold? It is bound to be spun as such, but more correctly it indicates the debt trap is being sprung shut on the US Treasury, a condition leading ultimately to loss of credibility and therefore a collapse in value for the Fed’s fiat dollar.

end

Gold bull builds excitement for 50th anniversary New Orleans Investment Conference

Submitted by admin on Thu, 2024-10-10 22:09 Section: Daily Dispatches

Join GATA there but act soon.

* * *

By Brien Lundin
Gold Newsletter and New Orleans Investment Conference
Metairie, Louisiana
Thursday, October 3, 2024

We’re in the final stages of preparing our agenda for this year’s blockbuster 50th anniversary New Orleans Investment Conference, and I’m excited about the surprises we’ll have in store for you.

But the most exciting thing about this year’s New Orleans conference is the simple fact that gold — and soon silver and the miners — have embarked on the next big bull market. And if there’s one indisputable truth in investing, it’s this:

You need to be in New Orleans during a metals and mining bull market

end

4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/no 193 ANDREW MAGUIRE WITH MARC FABER

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BRICS Dump Dollars for Gold – LFTV Ep 193

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In this week’s episode of Live from the Vault, Andrew Maguire delivers a chart-driven analysis of the gold and silver price action for the first week of this year’s fourth quarter, before answering pressing community questions.  …

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

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING FRIDAY MORNING/THURSDAY  NIGHT

Nikkei CLOSED UP 224.91 PTS OR 0.57%//Australia’s all ordinaries CLOSED DOWN 0.08%///Chinese yuan (ONSHORE) CLOSED UP TO 7.0622 CHINESE YUAN OFFSHORE CLOSED UP TO 7.0747 Oil UP TO 75.17dollars per barrel for WTI and BRENT UP AT 78.78 Stocks in Europe OPENED ALL RED

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

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

ONSHORE YUAN:   CLOSED UP AT 7.0672

OFFSHORE YUAN: DOWN TO 7.0747

SHANGHAI CLOSED CLOSED DOWN 84.79 PTS OR 2.55%

HANG SENG CLOSED CLOSED

2. Nikkei closed UP 224.91 POINTS OR 0.57%

3. Europe stocks   SO FAR:  ALL GREEN EXCEPT LONDON

USA dollar INDEX DOWN TO  102.76 EURO FALLS TO 1.0929 DOWN 4 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +0.950 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 149.08…… 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 DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.292 Italian 10 Yr bond yield UP to 3.588 SPAIN 10 YR BOND YIELD UP TO 3.043

3i Greek 10 year bond yield UP TO 3.213

3j Gold at $2640.25 /Silver at: 31.15  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 91/100  roubles/dollar; ROUBLE AT 96.10

3m oil into the 75 dollar handle for WTI and  78 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 149.08  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.950% 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 0.8577 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9375  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: 4.100 UP 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.399 UP 1 BASIS PTS/

USA 2 YR BOND YIELD:  3.983 DOWN 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.30…

10 YR UK BOND YIELD: 4.2865 UP 1 PTS

10 YR CANADA BOND YIELD: 3.270 UP 4 BASIS PTS

5 YR CANADA BOND YIELD: 3.041 UP 4 PTS.

2a New York OPENING REPORT

Futures Dip After Hot PPI, China Frenzy Unravels

Friday, Oct 11, 2024 – 09:19 AM

Futures are lower ahead of the last trading day of the week, but well off session lows as JPM earnings were solid enough to push the stock higher and reverse some of the market’s losses as Q3 earnings season was officially launched. As of 8:45am, S&P futures are down fractionally, while Nasdaq futures dropped 0.2%, hammered by TSLA which is down -5.8% pre-market as the Robotaxi event failed to meet market expectations. Bond yields are higher with the 10Y rising 3bps to 4.09%, while the Bloomberg Dollar index reversed earlier losses. Commodities are mixed with Oil fractionally lower, base metals higher, and pPrecious metals mixed. Today’s macro focus will be banks earnings and PPI, which came in fractionally light MoM (headline 0.0% MoM, Exp. 0.1%; core 0.2%, exp. 0.2%), but hotter on a YoY basis (core 2.8% YoY, Exp. 2.6%). Over the weekend, key macro catalysts will be China finance minister’s press conference on stimulus package.

In premarket trading, JPMorgan rose 1% after the bank reported a surprise gain in net interest income for the 3Q and raised its forecast for the key revenue source. Wells Fargo also gained, rising 3% after posting 3Q profit that topped analyst expectations as a surge in investment-banking fees helped counter a dip in lending revenue as interest rates fall. Tesla fell 6% as Elon Musk unveiled prototypes of the automaker’s long-awaited robotaxi Cybercab. Analysts note that the event did give a clearer picture of the company’s autonomous plans, but it was “light on the details.” Here are some other notable premarket movers:

• Aehr Test Systems (AEHR) jumps 13% after the semiconductor manufacturing firm reported fiscal 1Q results and reiterated its guidance for the fiscal year.
• A.O. Smith (AOS) falls 10% after the manufacturer of water heating and water treatment equipment lowered its annual forecasts for net sales and adjusted earnings per share, citing continued softness in its China business.
• BNY Mellon (BK) gains 1% after the bank’s 3Q adjusted earnings per share beat the average analyst estimate.
• Humana (HUM) slips 3% after the US Medicare program released final quality ratings for private Medicare Advantage plans, confirming a previously announced cut for the health insurer.

The producer price index for final demand was flat from August after rising 0.2% in the prior month, printing below estimates. From a year ago, however, it rose more than expected up 1.8% and 2.8% for headline and core, respectively, both above estimates of 1.6% and 2.6%.

European stocks reversed earlier losses and rose 0.2% with automobile and telecommunications shares leading the decline, while real estate and basic resources stocks are the biggest outperformers. Here are the biggest movers Friday:

• Aeroports de Paris gains as much as 2.7% as JPMorgan upgrades to overweight in note switching its top pick within the European airports space
• Zalando shares rise as much as 1.5% after the online fashion retailer delivered preliminary third-quarter results that were significantly above expectations and boosted its full-year guidance
• Brembo shares gained as much as 4.6% in Milan after the Italian company signed an agreement with Apollo Global Management’s Tenneco to buy a 100% stake in Öhlins Racing for $405m
• BP shares drop as much as 1.6% after the UK oil company said in a 3Q trading update that it expects rising net debt due to weaker refining margins
• Thales declines as much as 3.2% after Berenberg cuts to hold, citing in note continuing challenges for the defense contractor’s Space busines
• J Sainsbury falls as much as 5.1% after the largest shareholder in the UK supermarket chain, the Qatar Investment Authority, offered around $400 million worth of shares at a discount to the last closing price
• Revenio declines as much as 5.6% following a downgrade to sell from hold at Nordea, which cites short-term uncertainties for the Finnish ophthalmological device and software firm
• THG shares drop as much as 7.9%, hitting their lowest intraday level since January 2023, after the online retailer reported third-quarter revenue that Citi said missed their estimates

Earlier, Asian equities were headed for a second week of losses as the rally in China fizzled. The MSCI Asia Pacific Index pared earlier gains of as much as 0.4%. TSMC and Fast Retailing were among the biggest boosts to the regional benchmark. Japanese stocks were mixed, while China’s onshore gauge capped its worst week since July ahead of a policy briefing by the Ministry of Finance on Saturday. Chinese stocks have been volatile this week as traders digested weaker-than-expected holiday spending data and await further announcements from the key meeting this weekend. Investors and analysts are expecting China to deploy as much as 2 trillion yuan ($283 billion) in fresh fiscal stimulus, according to a majority of 23 market participants surveyed by Bloomberg.

“We have to expect some profit taking” after China’s sharp rally in the past few sessions, said Jessica Amir, market strategist at Moomoo. Meanwhile, “traders are also considering the risks should China not deliver a second bazooka stimulus package on the weekend.”

In FX, the Bloomberg Dollar Spot Index is little changed. The Bloomberg Dollar Spot Index dipped 0.1% as the greenback slipped against most Group-of-10 peers; the Norwegian krone led gains alongside the British pound, while the Japanese yen slumped.

• EUR/USD inched up 0.1% to 1.0943 reversing an earlier drop; France’s government unveiled a budget for next year that aims to deliver a €60.6 billion remedy for its creaking public finances
• GBP/USD rose as much as 0.2% to 1.3081; The UK economy returned to growth in August, putting Britian on course for modest growth in the third quarter, albeit at a slower pace than in the first half of the year

In rates, treasuries are lower, with US 10-year yields rising 4bps to 4.10%, the highest since July 31. French government bonds dip after the government unveiled a budget for next year that aims to deliver €60.6 billion in spending cuts and higher taxes. The OAT-bund spread is steady around 77 bps.

Oil prices decline, with WTI down 0.7% as Israel’s government has yet to decide how to retaliate against Iran for a missile attack last week. Spot gold rises $8 to around $2,637/oz.

Today’s data calendar includes September PPI (full summary here) and October preliminary University of Michigan sentiment (10am). Fed speakers scheduled include Goolsbee (9:45am), Logan (10:45am) and Bowman (1:10pm)

Market Snapshot

• S&P 500 futures down 0.1% to 5,822.75
• STOXX Europe 600 little changed at 519.13
• MXAP little changed at 192.69
• MXAPJ up 0.2% to 613.35
• Nikkei up 0.6% to 39,605.80
• Topix down 0.2% to 2,706.20
• Hang Seng Index up 3.0% to 21,251.98
• Shanghai Composite down 2.5% to 3,217.74
• Sensex down 0.3% to 81,370.74
• Australia S&P/ASX 200 down 0.1% to 8,214.51
• Kospi little changed at 2,596.91
• German 10Y yield little changed at 2.27%
• Euro up 0.1% to $1.0949
• Brent Futures down 0.7% to $78.86/bbl
• Gold spot up 0.4% to $2,641.07
• US Dollar Index down 0.18% to 102.80

Top Overnight News

• China could announce fiscal stimulus measures worth a combined ~$280B when the finance ministry holds a press conf. on Saturday according to a Bloomberg survey of investors and analysts. BBG
• China’s housing market sees a spike in foot traffic following gov’t stimulus measures. WSJ
• South Korea’s central bank lowered its policy rate by 25bp, as expected, but the decision wasn’t unanimous (one person wanted to keep rates unchanged) and while further easing will come, additional reductions are unlikely in the near-term. WSJ
• France on Thurs unveiled a budget plan with EU60B worth of spending cuts and tax hikes as the country looks to put its fiscal policy on a more sustainable path. FT
• The U.S. government announced quality ratings for 2025 Medicare health and prescription drug plans on Thursday, the first indication of which large health insurers, including CVS Health, UnitedHealth Group, and Humana will get bonus payments in 2026. RTRS
• Tesla stock slumped premarket after Elon Musk’s much-hyped Cybercab launch fell flat. The event lacked technical details, glossed over topics including regulation, and his comment that production may start in 2026 only highlighted Tesla’s poor record on timelines. Musk originally promised to get 1 million on the road by 2020. BBG
• Boeing’s relationship with its union turns more acrimonious, with the aerospace giant filing unfair labor practice charges, alleging labor leaders are failing to negotiate in good faith. BBG
• BAC: Berkshire Hathaway filed a form 4 disclosing the sale of 3.9mn/4.0mn/1.6mn shares on 10/8, 10/9, 10/10. This takes their stake below the 10% reporting threshold and creates some uncertainty around whether they are still reducing their stake until the next 13F filing. .. Have heard mixed views around how the stock will trade with this uncertain supply overhang but we would flag that this has turned into a crowded long heading into the print on Tuesday. All eyes on JPM print this AM. GS GBM
• Fed’s Goolsbee (2025 Voter) says does not see convincing evidence is overheating; repeats Fed must focus on both sides of the dual mandate; repeats inflation has cooled and job market is strong: BBG
• DBRS calculates insured losses for hurricane Milton likely in the USD 30-60bln range.
• Blackrock reported strong FQ3 EPS upside at 11.46 (vs. the Street 10.40), with the beat driven by robust margins (op. margins spiked 350bp Y/Y to 45.8% vs. the Street 44.1%) and higher revenue (sales climbed 25% to $5.197B vs. the Street $4.99B). Total net inflows were $221.1B in the quarter, including $160B long-term (the $160B number was far above the consensus forecast of $100B). Equity inflows were particularly robust at +$74.1B (vs. the Street $30B). Total AUM was nearly $11.5T as of the end of Q3. RTRS

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed following the choppy price action stateside where markets reflected on disappointing data and hawkish-leaning comments from Fed’s Bostic, while regional participants await the Chinese Ministry of Finance’s press briefing. ASX 200 price action was lacklustre with the index contained by weakness in real estate, utilities and financials.  Nikkei 225 eked marginal gains with index heavyweight Fast Retailing leading the advances post-earnings, while Seven & I was at the other end of the spectrum after it cut its guidance and announced a restructuring plan to fend off a takeover. KOSPI sits with marginal gains following the BoK’s 25bps rate cut which Governor Rhee framed as a hawkish cut. Shanghai Comp was pressured in the absence of Hong Kong participants and stock connect flows, while participants await tomorrow’s Ministry of Finance press conference and whether China will unveil large fiscal stimulus.

Top Asian News

• China issues guidelines on strengthening supervision, preventing risks and promoting high quality development of the Futures market. Will be cracking down on illegal and irregular activities. Measures will be implemented to curve specific speculation. To support deepening product and business cooperation
• China’s Infrastructure Ministry, Ministry of Industry and Information Technology, and State Administration for Market Regulation are to hold a briefing on Monday at 10:00 local time (03:00BST/22:00EDT).
• BoK cut its base rate by 25bps to 3.25%, as expected, with the decision not unanimous as board member Chang Yong-Sung dissented and the central bank also voted to lower policy interest rate in special loan programmes. BoK said it will thoroughly assess trade-offs among inflation, growth, and financial stability, as well as noted that South Korea’s economy is to continue moderate growth and the BoK will carefully determine the pace of further cuts to the base rate. Governor Rhee stated that five board members said keeping the policy rate at 3.25% is appropriate for the next three months and one board member was open to a further cut in the three months ahead, while Rhee added that today’s policy decision could be viewed as a hawkish cut. Furthermore, he said they will look at property prices, Q3 growth figures and the pace of household debt growth for the rate review in November, while he added that they will look at financial stability risks for any further rate reduction decisions and the pace of rate cuts will be slower in South Korea compared with the US.

European bourses, Stoxx 600 (U/C) are bobbling around the unchanged mark in what has been a very lacklustre and indecisive session thus far. European sectors are mixed but with the breadth of the market fairly narrow; Real Estate takes the top spot alongside Basic Resources whilst Autos lags. US Equity Futures (ES, NQ, RTY) are very modestly on the backfoot, continuing the losses seen in the prior session. Tesla (-5.7%) slips in the pre-market after its event where it unveiled Cybercab and a driverless Model Y, but RBC said they heard much of what they expected to hear.

Top European News

• French Markets Digest Barnier’s Budget as Fiscal Concerns Linger
• German Finance Chief Has More Room to Lift Net Debt Next Year
• Northvolt to Pay Taxes Monday as Battery Maker Battles Crisis
• Hays Rebounds From 2013 Low as Panmure Sees Stock Bottoming Out
• MANDATE: Louis Dreyfus Exp. €500m 7Y Investor Calls
• China Seeks Carbon Data From Ships as Trading Scheme Grows

FX

• DXY is slightly lower and trading within a very busy 102.76-94 range, which is within the confines of the prior session. Today’s docket includes US PPI, UoM Inflation Prelim. and speak from Fed’s Goolsbee, Logan & Bowman.
• EUR is slightly firmer vs the Dollar and trading just ahead of its 100 DMA (1.0934) in a current 1.0930-53 range. Today’s Final German CPI print for August were unrevised, but the internal commentary held a slight hawkish skew.
• GBP is firmer vs the Dollar and trading within a very narrow 1.3042-80 range. Cable was little moved on the back of the softer-than-expected GDP 3M/3M and Y/Y figures, with the Services figure also printing below expectations.
• JPY is very slightly lower vs the Dollar, with price action rangebound in what has been a quiet European session thus far. USD/JPY currently trades within a busy 148.41-85 range, which resides towards the midpoint of the prior day’s confines.
• Antipodeans are ever-so-slightly firmer vs the Dollar, attempting to nurse of their recent losses. Price action has been contained within a tight range given the lack of notable newsflow, so focus will ultimately lie on China’s MoF press conference on Saturday.

Fixed Income

• USTs remain bid following on from the US 30yr auction, which was well received. Since then, they have faded slightly from best but remain within reach of today’s 112-09+ peak and therefore only a few ticks shy of Thursday’s 112-11+ best.
• Bunds were initially firmer, in-fitting with USTs after the auction. However, an unrevised flash/prelim. set of German CPI (where the internals held a hawkish skew) sparked some modest pressure. A release which sparked around 10 ticks of pressure in Bunds, downside which has continued since to a 133.05 base.
• OATs are slightly firmer following the French draft budget; the OAT-Bund 10yr yield spread remains steady around the 76bps mark. Next up for France, is Fitch’s credit review.
• Gilts are firmer and gapped higher at the open in reaction to today’s somewhat mixed GDP figures with the M/M as expected but Y/Y figures coming in softer than expected, a dynamic which spurred a dovish reaction at the open but it is hard to say how much of this was from the UK or led by the catch-up to US supply. Gilts currently off best levels and holding around 96.18.
• Italy sells EUR 9.50bln vs exp. EUR 7.5-9.5bln 3.45% 2027, 2.65% 2027, 3.45% 2031, 4.15% 2039, 3.45% 2048 BTP:

Commodities

• Crude is under pressure having initially spent much of the APAC session within a tight range. Downside accelerated on reports that there was no vote at all at the end of the Israeli Security Council Meeting on Thursday.
• Spot gold is firmer, continuing to extend above the USD 2600/oz mark but yet to test the USD 2650/oz point and by extension the USD 2659/oz WTD peak.
• Base metals hold a positive bias vs generally flat overnight with price action somewhat hampered by the absence of Hong Kong participants with the remainder of the region largely awaiting the Chinese support updates which are expected on Sunday and Monday.

Geopolitics: Middle East

• “Israel Hayom: Last night’s cabinet meeting witnessed sharp differences between ministers”, via Al Jazeera
• At the conclusion of Thursday’s Israeli Security Council Meeting there was no vote on the outline of Israeli action in Iran or on giving “authorization of Netanyahu and Gallant to accept the decision”, via Kann’s Stein.
• Israeli Broadcasting Authority says the Security Cabinet has not yet made a decision on the nature of the response to Iran, according to Sky News Arabia.
• US President Biden and Israeli PM Netanyahu narrowed the gaps regarding the nature of Israel’s response against Iran, according to Walla News’ Ravid citing three US officials. The officials noted that Netanyahu and Biden made significant progress during their phone call in achieving an understanding of the scope of Israel’s retaliation against Iran, while the administration was “a little less worried” after the call, and another official said “We are moving in the right direction”.
• Iranian delegate to the UN said they do not seek war but are ready to defend their sovereignty against any aggression against their security and interests, while they will the exercise natural right to self-defence in accordance with international law against any attack. Furthermore, the delegate said Israel is a threat to international peace and its aggressive actions lead the region to all-out war.
• Lebanon’s delegate to the UN said Lebanon is ready for a diplomatic solution and to facilitate the task of mediators.
• Israeli army said a local leader of the Islamic Jihad movement was killed in a raid on the Nour Shams camp in Tulkarm in the West Bank, according to Al Jazeera.

Geopolitics: Other

• US Secretary of State Blinken denounces China’s naval manoeuvres at ASEAN summit and said they are “increasingly dangerous”.

US Event Calendar

• 08:30 PPI 0.0% M/M, Exp 0.1%
  • PPI Core 0.2% MoM, Exp. 0.2%
  • PPI 1.8% YoY, Exp. 1.6%
  • PPI Core 2.8% YoY, Exp. 2.6%
• 10:00: Oct. U. of Mich. Sentiment, est. 71.0, prior 70.1
  • Oct. U. of Mich. Current Conditions, est. 64.0, prior 63.3
  • Oct. U. of Mich. Expectations, est. 74.8, prior 74.4
  • Oct. U. of Mich. 1 Yr Inflation, est. 2.7%, prior 2.7%
  • Oct. U. of Mich. 5-10 Yr Inflation, est. 3.0%, prior 3.1%

Central Banks

• 09:45: Fed’s Goolsbee Gives Opening Remarks
• 10:45: Fed’s Logan Participates in Panel Discussion
• 13:10: Fed’s Bowman Speaks on Community Banking

DB’s Jim Reid concludes the overnight wrap

It’s yet another morning where I wake to social media posts of the most stunning Aurora Borealis pictures in my area last night. I stuck my head out the window at 9:30pm before I went to bed and it all looked pitch black. I think I need to work on my iPhone settings as that seems to be the trick. Talking of which, it’s the annual new model arrival day today so maybe I can up my game.

There have been some strange lights shining in market skies in the last week with the way above expected payrolls last week and a slightly above expected US CPI yesterday. The narrative has certainly changed a bit. Maybe the full implication of yesterday’s inflation number was offset by the much weaker than expected claims. However, we are in for a period of data heavily influenced by recent storms and strikes. So this will likely make it a complicated few weeks for markets and the Fed. Although I’ve struggled to work out which way things will go in recent weeks the view I’ve felt most certain of was that the market was massively overpricing the perfect scenario of smooth enough data that the Fed would be able to serenely cut rates back below 3% without a recession. If we don’t get a recession, it’s hard to see how rates can be cut anywhere near as aggressively as this.

Anyway there’ll be more twists and turns in that argument but for yesterday the response in markets to the data was fairly muted but a confused one, complicated further as oil prices posted a fresh advance due to geopolitical tensions in the Middle East.

We’ll start off with the CPI release, as that set the tone for a day where investors grew a bit more concerned about inflation. It showed that headline CPI was stronger than expected in September at +0.18% (vs. +0.1% expected), meaning that the year-on-year number only came down to +2.4% (vs. +2.3% expected), even if it was still the lowest since February 2021. But what concerned investors more was the core CPI number, which came in at a monthly +0.31% in September (vs. +0.2% expected), pushing the year-on-year number up to +3.3% (vs. +3.2% expected). Now of course, that’s only one month’s reading, but it also meant the 3-month annualised rate for core CPI rose to +3.1%, having been at +2.1% in August. So the last couple of months have added to fears that inflation is proving a bit more persistent than the Fed would like, and there were fresh signs that investors were pricing this in as well. For instance, the US 5yr inflation swap (+6.5bps) was up to a three-month high of 2.51% yesterday (low of 2.14% on September 10), and it was a decent day for precious metals, which traditionally operate as an inflation hedge, with gold prices up around +0.7% and a further +0.6% this morning.

Ordinarily, an inflation release like that would have led investors to dial back their expectations for rate cuts. But just as that was coming out, we simultaneously had the weekly initial jobless claims, which were noticeably worse than expected. They moved up to 258k over the week ending October 5 (vs. 230k expected), which is the highest they’ve been since August 2023. Now to be fair, there are some weather-related factors that can help explain that, and the numbers are likely to remain volatile for several weeks as a result. But even so, the number was higher than expected, and given it’s quite a timely release, it pushed back against the more positive labour market narrative from last week’s jobs report. The chances are still high that it was heavily distorted though and with the current storms in Florida, getting a clean reading soon will be tough.

Nevertheless, with all that in hand, investors moved to increase the pricing of Fed rate cuts in the coming months, even as they priced in more inflation for the years ahead. The likelihood of a 25bp cut next month rose marginally from 83% the previous day to 85%, but having peaked at 95% intra-day after the data. The move was more sustained further out the curve, with the rate priced in for the December 2025 meeting falling by -8.2bps to 3.34%. The reversal in November pricing from the day’s peaks came following a WSJ interview with the Fed’s Bostic, who left open the possibility of a pause in November, saying that “I am totally comfortable with skipping a meeting if the data suggests that’s appropriate”. On the other hand, comments from Williams, Goolsbee, and Barkin suggested they were largely unphased by the stronger CPI print.

The more dovish Fed pricing contributed to a rally in front-end yields that pushed the 2yr Treasury yield down -6.5bps to 3.96%, while the 10yr yield was down a more marginal -1.1bps to 4.06%. This comprised of sharply diverging moves in real yields and breakevens, especially at the front end. While 2yr breakevens (+9.8bps) rose to their highest since early July, 2yr real yields (-16.3bps) posted their sharpest daily fall since the December 2023 FOMC. So signs of market pricing turning in a slightly more stagflationary direction.

Whilst markets were digesting the latest US data, there were ongoing concerns about a potential escalation in the Middle East, and Brent crude oil prices moved up +3.68% yesterday to $79.40/bbl. That came as Israel’s security cabinet met last night to discuss how and when to retaliate against Iran’s strikes last week, with Israel’s public broadcaster reporting that the final decision will be made by PM Netanyahu and defence minister Gallant.

Against this backdrop, equities were unable to hold onto their recent gains, with the S&P 500 (-0.21%) moving off from its record high the previous day. The declines were pretty broad based, with nearly 70% of the S&P 500 lower on the day with the small-cap Russell 2000 (-0.55%) struggling in particular. Meanwhile in Europe, there was a similar pattern of evenly spread but modest declines, with small losses for the STOXX 600 (-0.18%), the DAX (-0.23%) and the CAC 40 (-0.24%). All change from today as we see the unofficial start of earnings season with releases beginning to ramp up, with several US financials reporting including JPMorgan, Wells Fargo, BNY Mellon and BlackRock.

Over in Europe, last night we heard the details of the French government’s 2025 budget proposal. This confirmed a fiscal deficit target of 5% of GDP, foreseeing some EUR 60bn of spending cuts and tax increases. The budget will now pass to parliament to be the first major test of PM Barnier’s minority government. Earlier in the day, the Franco-German 10yr spread had remained at 77bps, with yields on 10yr bunds (-0.1bps) and OATs (-0.1bps) both basically unchanged on the day.

Overnight in Asia, Chinese stocks are lagging behind other markets with Hong Kong closed for a holiday. The CSI 300 is down -1.88% while the Nikkei 225 and the Kospi are up by +0.72% and +0.18%, respectively. US equity futures are up less than a tenth of a percentage as I type. All eyes are on tomorrow’s finance ministry briefing in China to hopefully get much more details on the stimulus package the market has grown a little more nervous of this week. So lots to report by Monday.

To the day ahead now, and data releases include US PPI for September, the University of Michigan’s preliminary consumer sentiment index for October, and UK GDP for August. From central banks, we’ll hear from the ECB’s Holzmann, and the Fed’s Goolsbee, Logan and Bowman. Finally, today’s earnings releases include JPMorgan, Wells Fargo, BNY Mellon and BlackRock.

2B) European report

US futures modestly lower as traders await earnings season and Chinese MOF update – Newsquawk US Market Open

Friday, Oct 11, 2024 – 05:25 AM

• European equities trade tentatively on either side of the unchanged mark; US futures are very modestly lower.
• Dollar is slightly lower with G10s mixed/flat; GBP was unreactive to mixed GDP figures.
• USTs remain firmer following the strong US 30yr auction, Bunds dip with pressure sparked from unrevised CPI figures (but with internals holding a hawkish skew), Gilts outperform post-GDP.
• Crude is under pressure, XAU gains and continues to extend above USD 2600/oz, base metals generally firmer.
• Looking ahead, US PPI, Canadian Unemployment, UoM Inflation Prelim., BoC SCE & Outlook Survey, Fitch Credit Review on France, Speakers including Fed’s Goolsbee, Logan & Bowman. Earnings from JPMorgan, BlackRock, Wells Fargo, Bank of New York Mellon & Fastenal.

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EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (U/C) are bobbling around the unchanged mark in what has been a very lacklustre and indecisive session thus far.
• European sectors are mixed but with the breadth of the market fairly narrow; Real Estate takes the top spot alongside Basic Resources whilst Autos lags.
• US Equity Futures (ES, NQ, RTY) are very modestly on the backfoot, continuing the losses seen in the prior session. Tesla (-5.7%) slips in the pre-market after its event where it unveiled Cybercab and a driverless Model Y, but RBC said they heard much of what they expected to hear.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY is slightly lower and trading within a very busy 102.76-94 range, which is within the confines of the prior session. Today’s docket includes US PPI, UoM Inflation Prelim. and speak from Fed’s Goolsbee, Logan & Bowman.
• EUR is slightly firmer vs the Dollar and trading just ahead of its 100 DMA (1.0934) in a current 1.0930-53 range. Today’s Final German CPI print for August were unrevised, but the internal commentary held a slight hawkish skew.
• GBP is firmer vs the Dollar and trading within a very narrow 1.3042-80 range. Cable was little moved on the back of the softer-than-expected GDP 3M/3M and Y/Y figures, with the Services figure also printing below expectations.
• JPY is very slightly lower vs the Dollar, with price action rangebound in what has been a quiet European session thus far. USD/JPY currently trades within a busy 148.41-85 range, which resides towards the midpoint of the prior day’s confines.
• Antipodeans are ever-so-slightly firmer vs the Dollar, attempting to nurse of their recent losses. Price action has been contained within a tight range given the lack of notable newsflow, so focus will ultimately lie on China’s MoF press conference on Saturday.
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs remain bid following on from the US 30yr auction, which was well received. Since then, they have faded slightly from best but remain within reach of today’s 112-09+ peak and therefore only a few ticks shy of Thursday’s 112-11+ best.
• Bunds were initially firmer, in-fitting with USTs after the auction. However, an unrevised flash/prelim. set of German CPI (where the internals held a hawkish skew) sparked some modest pressure. A release which sparked around 10 ticks of pressure in Bunds, downside which has continued since to a 133.05 base.
• OATs are slightly firmer following the French draft budget; the OAT-Bund 10yr yield spread remains steady around the 76bps mark. Next up for France, is Fitch’s credit review.
• Gilts are firmer and gapped higher at the open in reaction to today’s somewhat mixed GDP figures with the M/M as expected but Y/Y figures coming in softer than expected, a dynamic which spurred a dovish reaction at the open but it is hard to say how much of this was from the UK or led by the catch-up to US supply. Gilts currently off best levels and holding around 96.18.
• Italy sells EUR 9.50bln vs exp. EUR 7.5-9.5bln 3.45% 2027, 2.65% 2027, 3.45% 2031, 4.15% 2039, 3.45% 2048 BTP:
• Click for a detailed summary

COMMODITIES

• Crude is under pressure having initially spent much of the APAC session within a tight range. Downside accelerated on reports that there was no vote at all at the end of the Israeli Security Council Meeting on Thursday.
• Spot gold is firmer, continuing to extend above the USD 2600/oz mark but yet to test the USD 2650/oz point and by extension the USD 2659/oz WTD peak.
• Base metals hold a positive bias vs generally flat overnight with price action somewhat hampered by the absence of Hong Kong participants with the remainder of the region largely awaiting the Chinese support updates which are expected on Sunday and Monday.
• Click for a detailed summary

NOTABLE DATA RECAP

• German CPI Final YY (Sep) 1.6% vs. Exp. 1.6% (Prev. 1.6%). FSO: “In particular, the renewed price declines for energy dampened the inflation rate in September 2024 more than in the previous months. In contrast, the continued above-average price increases for services had an inflationary effect,”
• UK GDP Estimate MM (Aug) 0.2% vs. Exp. 0.2% (Prev. 0.0%); YY 1.0% vs. Exp. 1.4% (Prev. 1.2%); 3M/3M (Aug) 0.2% vs. Exp. 0.3% (Prev. 0.5%)

NOTABLE US HEADLINES

• Fed’s Goolsbee (2025 Voter) says does not see convincing evidence is overheating; repeats Fed must focus on both sides of the dual mandate; repeats inflation has cooled and job market is strong, via Bloomberg.
• DBRS calculates insured losses for hurricane Milton likely in the USD 30-60bln range.

GEOPOLITICS

MIDDLE EAST

• “Israel Hayom: Last night’s cabinet meeting witnessed sharp differences between ministers”, via Al Jazeera
• At the conclusion of Thursday’s Israeli Security Council Meeting there was no vote on the outline of Israeli action in Iran or on giving “authorization of Netanyahu and Gallant to accept the decision”, via Kann’s Stein.
• Israeli Broadcasting Authority says the Security Cabinet has not yet made a decision on the nature of the response to Iran, according to Sky News Arabia.
• US President Biden and Israeli PM Netanyahu narrowed the gaps regarding the nature of Israel’s response against Iran, according to Walla News’ Ravid citing three US officials. The officials noted that Netanyahu and Biden made significant progress during their phone call in achieving an understanding of the scope of Israel’s retaliation against Iran, while the administration was “a little less worried” after the call, and another official said “We are moving in the right direction”.
• Iranian delegate to the UN said they do not seek war but are ready to defend their sovereignty against any aggression against their security and interests, while they will the exercise natural right to self-defence in accordance with international law against any attack. Furthermore, the delegate said Israel is a threat to international peace and its aggressive actions lead the region to all-out war.
• Lebanon’s delegate to the UN said Lebanon is ready for a diplomatic solution and to facilitate the task of mediators.
• Israeli army said a local leader of the Islamic Jihad movement was killed in a raid on the Nour Shams camp in Tulkarm in the West Bank, according to Al Jazeera.

OTHER

• US Secretary of State Blinken denounces China’s naval manoeuvres at ASEAN summit and said they are “increasingly dangerous”.

CRYPTO

• Bitcoin and Ethereum continues to climb higher with the former looking to test USD 61k to the upside.

APAC TRADE

• APAC stocks traded mixed following the choppy price action stateside where markets reflected on disappointing data and hawkish-leaning comments from Fed’s Bostic, while regional participants await the Chinese Ministry of Finance’s press briefing.
• ASX 200 price action was lacklustre with the index contained by weakness in real estate, utilities and financials.
• Nikkei 225 eked marginal gains with index heavyweight Fast Retailing leading the advances post-earnings, while Seven & I was at the other end of the spectrum after it cut its guidance and announced a restructuring plan to fend off a takeover.
• KOSPI sits with marginal gains following the BoK’s 25bps rate cut which Governor Rhee framed as a hawkish cut.
• Shanghai Comp was pressured in the absence of Hong Kong participants and stock connect flows, while participants await tomorrow’s Ministry of Finance press conference and whether China will unveil large fiscal stimulus.

NOTABLE ASIA-PAC HEADLINES

• China issues guidelines on strengthening supervision, preventing risks and promoting high quality development of the Futures market. Will be cracking down on illegal and irregular activities. Measures will be implemented to curve specific speculation. To support deepening product and business cooperation
• China’s Infrastructure Ministry, Ministry of Industry and Information Technology, and State Administration for Market Regulation are to hold a briefing on Monday at 10:00 local time (03:00BST/22:00EDT).
• BoK cut its base rate by 25bps to 3.25%, as expected, with the decision not unanimous as board member Chang Yong-Sung dissented and the central bank also voted to lower policy interest rate in special loan programmes. BoK said it will thoroughly assess trade-offs among inflation, growth, and financial stability, as well as noted that South Korea’s economy is to continue moderate growth and the BoK will carefully determine the pace of further cuts to the base rate. Governor Rhee stated that five board members said keeping the policy rate at 3.25% is appropriate for the next three months and one board member was open to a further cut in the three months ahead, while Rhee added that today’s policy decision could be viewed as a hawkish cut. Furthermore, he said they will look at property prices, Q3 growth figures and the pace of household debt growth for the rate review in November, while he added that they will look at financial stability risks for any further rate reduction decisions and the pace of rate cuts will be slower in South Korea compared with the US.
• 
  

2C ASIAN REPORT

Stocks tentative as traders await earnings season and the Chinese MOF update – Newsquawk Europe Market Open

Friday, Oct 11, 2024 – 01:40 AM

• Mixed APAC trade after hawkish Fed commentary and with the region awaiting the weekend’s Chinese MOF update.
• European futures point to a slightly firmer open, US futures were bid but have since faded.
• DXY flat with peers mixed but rangebound, NZD outperforms while havens lag.
• Fixed benchmarks underpinned by the strong US 30yr tap; Crude pulled back from Thursday’s gains.
• Israeli Security Cabinet is yet to make a decision on the nature of the response to Iran.
• Highlights include German CPI (Final), UK GDP Estimate, Services, Manufacturing Output, US PPI, Canadian Unemployment, UoM Inflation Prelim., BoC SCE & Outlook Survey, Fitch Credit Review on France, Speakers including Fed’s Goolsbee, Logan & Bowman, Supply from Italy, Earnings from JPMorgan, BlackRock, Wells Fargo, Bank of New York Mellon & Fastenal.
• Click for the Newsquawk Week Ahead.
• More Newsquawk in 3 steps:1. Subscribe to the free premarket movers reports2. Listen to this report in the market open podcast (available on Apple and Spotify)3. Trial Newsquawk’s premium real-time audio news squawk box for 7 day
• US TRADEEQUITIES
• US stocks ultimately closed in the red following a choppy session with underperformance seen in the Russell 2k as participants digested the latest data releases including firmer-than-expected consumer inflation and an increase in jobless claims. As such, the majority of sectors were on the back foot although energy outperformed as oil prices gained alongside the backdrop of the ongoing geopolitical tensions as participants await Israel’s response to Iran.
• SPX -0.21% at 5,780, NDX -0.13% at 20,242, DJIA -0.14% at 42,512, RUT -0.55% at 2,188.
• Click here for a detailed summary.
• NOTABLE HEADLINES
• Fed’s Bostic (2024 voter) said he is totally comfortable with skipping a meeting if the data suggests that’s appropriate, while he commented regarding the US CPI data that the choppiness is along the lines of maybe they should take a pause in November which he is definitely open to. Furthermore, he thinks they have the ability to be patient and wait and let things play out a little longer, according to an interview with WSJ.
• APAC TRADEEQUITIES
• APAC stocks traded mixed following the choppy price action stateside where markets reflected on disappointing data and hawkish-leaning comments from Fed’s Bostic, while regional participants await the Chinese Ministry of Finance’s press briefing.
• ASX 200 price action was lacklustre with the index contained by weakness in real estate, utilities and financials.
• Nikkei 225 eked marginal gains with index heavyweight Fast Retailing leading the advances post-earnings, while Seven & I was at the other end of the spectrum after it cut its guidance and announced a restructuring plan to fend off a takeover.
• KOSPI sits with marginal gains following the BoK’s 25bps rate cut which Governor Rhee framed as a hawkish cut.
• Shanghai Comp was pressured in the absence of Hong Kong participants and stock connect flows, while participants await tomorrow’s Ministry of Finance press conference and whether China will unveil large fiscal stimulus.
• US equity futures were marginally higher with only brief tailwinds seen in the Emini Nasdaq 100 amid the unveiling of Tesla’s Robotaxi, Robovan and driverless Model Y, while the focus now shifts to the start of earnings season. Since, that modest upside has faded with futures essentially unchanged.
• European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.2% after the cash market closed lower by 0.3% on Thursday.
• FX
• DXY remained flat after yesterday’s indecision as participants digested the latest US data and remarks from Fed officials including Bostic who said he is comfortable with skipping a meeting and suggested pausing in November following the CPI data.
• EUR/USD traded rangebound after clawing back the prior day’s initial losses with the help of support at the 1.0900 level.
• GBP/USD conformed to the uneventful picture across the FX space ahead of a deluge of UK data including monthly GDP.
• USD/JPY struggled for direction amid a lack of tier-1 data and after its recent pullback to beneath the 149.00 territory.
• Antipodeans nursed some of their recent losses but with the rebound contained in the absence of any major catalysts and as participants second guess if China will announce large fiscal stimulus at the Ministry of Finance’s press briefing on Saturday.
• SNB vice-chairman said price stability is the key thing they do at the SNB and stated that the primary tool of the SNB is the interest rate and FX transactions are a secondary tool.
• Peru Central Bank maintained its reference rate at 5.25% (exp. 25bps cut) and stated that future rate cuts will depend on inflation data and its determinants, while core inflation is expected to stay within the target range on the projected horizon.
• FIXED INCOME
• 10yr UST futures were mildly underpinned after a strong 30yr US auction provided the determining factor following yesterday’s data-induced price swings, while participants now await more data releases and Fed speakers.
• Bund futures gradually edged higher after withstanding the recent brief tests of the 133.00 level to the downside.
• 10yr JGB futures tracked the recovery across global peers but with prices capped just above the 144.00 level amid a lack of pertinent catalysts and data releases from Japan.
• COMMODITIES
• Crude futures marginally pulled back after rallying throughout the prior day amid the ongoing geopolitical situation with the Israeli security cabinet expected to approve Israel’s response plan to Iran, while there were mild headwinds following a report that US President Biden and Israeli PM Netanyahu narrowed the gaps regarding the nature of Israel’s response against Iran.
• Spot gold extended on gains after gradually edging higher as the dust settled from the firmer-than-expected US CPI data.
• Copper futures were kept afloat after yesterday’s intraday rebound but with gains capped amid the mixed risk tone.
• Chile’s Codelco copper production rose 10.1% Y/Y in August to 125.3k tons, Escondida output rose 15.5% Y/Y to 105.3k tons and Collahuasi output fell 11.3% Y/Y to 48.8k tons.
• CRYPTO
• Bitcoin was firmer following a recovery from yesterday’s brief dip beneath the USD 60,000 level.
• NOTABLE ASIA-PAC HEADLINES
• China’s Infrastructure Ministry, Ministry of Industry and Information Technology, and State Administration for Market Regulation are to hold a briefing on Monday at 10:00 local time (03:00BST/22:00EDT).
• Republican Presidential candidate Trump said he will bar all Chinese autonomous vehicles from travelling on US roads.
• BoK cut its base rate by 25bps to 3.25%, as expected, with the decision not unanimous as board member Chang Yong-Sung dissented and the central bank also voted to lower policy interest rate in special loan programmes. BoK said it will thoroughly assess trade-offs among inflation, growth, and financial stability, as well as noted that South Korea’s economy is to continue moderate growth and the BoK will carefully determine the pace of further cuts to the base rate. Governor Rhee stated that five board members said keeping the policy rate at 3.25% is appropriate for the next three months and one board member was open to a further cut in the three months ahead, while Rhee added that today’s policy decision could be viewed as a hawkish cut. Furthermore, he said they will look at property prices, Q3 growth figures and the pace of household debt growth for the rate review in November, while he added that they will look at financial stability risks for any further rate reduction decisions and the pace of rate cuts will be slower in South Korea compared with the US.
• GEOPOLITICSMIDDLE EAST
• Israeli security cabinet is expected to approve Israel’s response plan to Iran, according to NYT. Thereafter, Israeli Broadcasting Authority says the Security Cabinet has not yet made a decision on the nature of the response to Iran, according to Sky News Arabia.
• US President Biden and Israeli PM Netanyahu narrowed the gaps regarding the nature of Israel’s response against Iran, according to Walla News’ Ravid citing three US officials. The officials noted that Netanyahu and Biden made significant progress during their phone call in achieving an understanding of the scope of Israel’s retaliation against Iran, while the administration was “a little less worried” after the call, and another official said “We are moving in the right direction”.
• US President Biden realised that Israel is interested in a greater response to Iran than he expected, while it was also reported that the call between Biden and Netanyahu on Wednesday was difficult on several issues and Biden expressed opposition to an attack on oil and nuclear facilities, according to Al Arabiya citing Israel Broadcasting Corp.
• Iranian delegate to the UN said they do not seek war but are ready to defend their sovereignty against any aggression against their security and interests, while they will the exercise natural right to self-defence in accordance with international law against any attack. Furthermore, the delegate said Israel is a threat to international peace and its aggressive actions lead the region to all-out war.
• Lebanon’s delegate to the UN said Lebanon is ready for a diplomatic solution and to facilitate the task of mediators.
• Israeli army said a local leader of the Islamic Jihad movement was killed in a raid on the Nour Shams camp in Tulkarm in the West Bank, according to Al Jazeera.
• Senior Hezbollah figure Wafiq Safa reportedly survived an Israeli assassination attempt in Beirut, according to Reuters citing sources.
• OTHER
• US Secretary of State Blinken denounces China’s naval manoeuvres at ASEAN summit and said they are “increasingly dangerous”.
• EU/UKNOTABLE HEADLINES
• France’s Budget is to cut spending and raise taxes to hit a 5% deficit in 2025, while the Budget bill is to raise EUR 2bln from the temporary tax increase on wealthy households and is to raise EUR 8bln with a surtax on the 440 largest firms.

3B NORTH KOREA/SOUTH KOREA

3C JAPAN

3D. CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

SPAIN

Concern Over Immigration In Spain Rises Sharply As Majority Believe There Are “Too Many” Immigrants

Friday, Oct 11, 2024 – 02:00 AM

Authored by Thomas Brooke via Remix News,

Concern among Spaniards about immigration has surged in the past year with 57 percent of citizens believing there are now “too many” immigrants in the country, new polling shows.

A recent survey by the 40dB Institute for El País and Cadena SER revealed that 75 percent of Spaniards now associate immigration with negative concepts such as insecurity, crime, and overburdened public services. The increase in concern — up by 16 points over the last year and a half — reflects a considerable shift at a time when the migrant crisis, particularly on the Canary Islands archipelago is at the forefront of public debate.

A total of 41 percent of respondents described immigration as a significant concern with a growing unease particularly prevalent among Gen Z males who broadly agree with the description of Vox leader Santiago Abascal, who has described the current migration crisis as an “invasion,” and the center-right opposition leader Alberto Núñez Feijóo, who has linked immigration with crime and called for “mass deportations.”

The survey reveals significant differences in opinions based on political affiliation. Among supporters of the hard-right SALF, 93.4 percent believe there are too many immigrants, with Vox supporters close behind at 86.1 percent. However, 4 out of 10 left-wing PSOE voters (41 percent) also share the belief that there are too many immigrants, while 27.7 percent of Sumar voters and 24.2 percent of Podemos voters express similar views.

The majority of respondents (74.8 percent) link immigration to various negative outcomes, such as increased insecurity (29.5 percent), strain on public services (27.2 percent), social divides (21.2 percent), and crime (19.2 percent). A significant portion also associates immigration with unemployment (16.7 percent) and a “loss of cultural identity” (7.6 percent).

Despite these concerns, there remains support for humanitarian immigration policies. A majority (64.3 percent) agree that Spain should welcome people fleeing war or political persecution, though over half (52.8 percent) believe this should come with limitations.

A significant takeaway from the survey is that 1 in 4 Spaniards would halt immigration from North Africa’s Maghreb region, while 1 in 6 would restrict immigrants arriving from sub-Saharan Africa.

Respondents also saw a difference in the origin of immigration when asked whether they would be happy with a family member marrying a foreign national. While nearly half (49 percent) would approve of a son or daughter entering into a relationship with someone from northern, central, or southern Europe, just 22.8 percent would be happy for a child’s partner to originate from North Africa.

Despite its current handling of immigration, the incumbent PSOE was still seen as the most competent party to address the issue among the wider population with 20.5 percent, followed by Vox (17.7 percent) and the center-right PP (16.2 percent).

Vox supporters, however, were the most convinced their party was the best equipped to tackle the issue with 83 percent of support. In contrast, 67.7 percent of PSOE voters believed their party had the best approach, and 57.3 percent of PP voters supported their own party’s stance.

Read more here…

end

EU/RUSSIA/

From Robert H to us::

EU Approves €35bn Ukraine Loan Using Frozen Russian Assets ━ The European Conservative

	9:52 AM (14 minutes ago)
to

“I doubt the Russians will see this a relationship builder.
If they agree tomorrow to let Ukraine strike deep into Russia the response will be very strong.
Ukraine is finished and sadly current non leadership in Europe may well finish the current Europe to make way for a new one.
As it is Germany is having a 2nd year of decline due to energy prices .”

https://europeanconservative.com/articles/news/eu-approves-e35bn-ukraine-loan-using-frozen-russian-assets/
 

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

end

ISRAEL/IRAN/SAUDI ARABIA GULF STATES

Gulf States Lobby Hard For US To Stop Israel From Attacking Iran Oil Sites

Thursday, Oct 10, 2024 – 04:40 PM

Gulf Cooperation Council (GCC) countries are deeply alarmed by Israel’s current threats of launching a major counter-attack on Iran, which would likely involve ballistic missiles and fighter jet strikes on key infrastructure, both energy and military. The Biden White House has this week sought to talk the Israelis down from hitting oil and gas sites.

Gulf countries including Saudi Arabia, Qatar, and United Arab Emirates are now also lobbying the US and Israel to avoid hitting Iran’s oil sites, on fears that with such an escalation Tehran would in turn target oil facilities in the Gulf. This was already a reality that played out in the last half-decade of regional proxy conflict between the Iran axis and the West-Gulf country alliance.

The Saudis and GGC states wish to avoid the kind of attacks which could impact its oil production and exports, such as the 2019 Abqaiq–Khurais Saudi Aramco drones strikes. The US blamed Iran for those historic attacks, but Tehran leaders never owned up to it. It may have been done by Iranian proxies out of Iraq, but the West ultimately views that it was Tehran’s finger on the trigger.

We detailed last week that the Saudis are attempting convince the Iranians of their neutrality, amid a series of high-level meetings, which recently included President Masoud Pezeshkian visiting Doha to meet with GCC officials. These talks have continued with Crown Prince Mohammed bin Salman Iranian meeting Iranian Foreign Minister Abbas Araqchi on Wednesday amid the latter’s Gulf tour.

Reuters has in a new Thursday report revealed more details of dire warnings conveyed from the Iranian side. “The moves by the Gulf states come after a diplomatic push by non-Arab Shi’ite Iran to persuade its Sunni Gulf neighbors to use their influence with Washington amid rising concerns Israel could target Iran’s oil production facilities,” Reuters writes.

Tehran is basically telling the Saudis to talk the Israelis down, or else…

“During meetings this week, Iran warned Saudi Arabia it could not guarantee the safety of the Gulf kingdom’s oil facilities if Israel were given any assistance in carrying out an attack, a senior Iranian official and an Iranian diplomat told Reuters.”

A key complication, and one which puts the Saudis in a precarious and delicate position vis-a-vis their allies, is that the United States has bases and a troop presence in the kingdom, including significant US Air Force assets. Washington has already pledged to help the Israelis repel any future Iranian ballistic missile counterattacks, as it did in the last two rounds of drones and ballistic missiles fired on Israel.

A broader Iran-Israel war would certainly see the US pressure the Saudis and GCC to allow American fighter jets based out of the Gulf to engage Iran. According to Reuters, Iran has expressly threatened war should Riyadh cooperate: 

Ali Shihabi, a Saudi analyst close to the Saudi royal court, said: “The Iranians have stated: ‘If the Gulf states open up their airspace to Israel, that would be an act of war’.”

The diplomat said Tehran had sent a clear message to Riyadh that its allies in countries such as Iraq or Yemen might respond if there was any regional support for Israel against Iran.

Both the Shia Houthi out of Yemen and Iraqi paramilitaries have over the years proven themselves capable of hitting Saudi oil facilities with either drones or missiles.

The Saudis appear to be taking steps to appease Iran: “As part of their attempts to avoid being caught in the crossfire, Gulf states including Saudi Arabia, the United Arab Emirates and Qatar are also refusing to let Israel fly over their airspace for any attack on Iran and have conveyed this to Washington, the three sources close to government circles said,” Reuters details further.

X.com/bencahillenergy/status/1841887551226823054

The Saudis and Iranians have over the past couple years made huge strides toward full diplomatic rapprochement, while at the same time Riyadh has drifted away from normalization with Israel in light of the Gaza war.

In terms of oil risk, it must be recalled that the aforementioned 2019 attack on Saudi Aramco’s oilfield had shut down over 5% of global oil supply. If Israel targets Iran’s supply, OPEC has enough spare oil capacity to make up for it, but not if oil sites in Saudi Arabia and the UAE are hit by any potential attacks from Iranian proxies.

But again, Riyadh is seeking to assure the Islamic Republic: “The Gulf states aren’t letting Israel use their airspace. They won’t allow Israeli missiles to pass through, and there’s also a hope that they won’t strike the oil facilities,” a Gulf source told Reuters.

END

IRAN USA/GULF STATES

Iran Issues Secret Warning To US Allies Across Middle East

by Tyler Durden

Friday, Oct 11, 2024 – 03:05 PM

After Wednesday’s phone call involving President Biden, Vice President Harris, and Israeli Prime Minister Benjamin Netanyahu – the US and Israel have moved closer on achieving consensus regarding Israel’s planned retaliation against Iran. 

There have been reports that Netanyahu is now seeking the approval of his security cabinet, however regional media says that no big resolutions have been reached. The expected big counterstrikes have yet to come, despite Iran firing some 200 ballistic missiles at Israel on October 1st.

But The Wall Street Journal has described Iran’s “secret warning” conveyed to other Middle East regional countries this week as it braces for Israel’s potential retaliation.

“Tehran is threatening in secret diplomatic backchannels to target the oil-rich Arab Gulf states and other American allies in the Middle East if their territories or airspace are used for an attack on Iran, said Arab officials,” writes WSJ.

Israel could potentially use Jordanian, UAE, or possibly Saudi airspace in such an attack, despite these countries on an official level rejecting such a possibility. We detailed this week that the gulf states are pushing hard for Israel to avoid hitting Iranian oil facilities, on fears that Tehran would in turn authorize its proxies to attack Saudi Aramco sites, like happened in 2019.

According to more from the WSJ:

The Arab officials said the countries that Iran has threatened include Jordan, the United Arab Emirates, Saudi Arabia and Qatar, all of which host U.S. troops. These states have told the Biden administration that they don’t want their military infrastructure or airspace to be used by the U.S. or Israel for any offensive operations against Iran, the officials said.

As for America’s gulf allies’ pleading for Israel and the US to not use their airspace for counter-Iran operations, the WSJ has noted further, “The Arab countries’ requests remain informal, a U.S. defense official said.”

A key complication, and one which puts the Saudis in a precarious and delicate position vis-a-vis their allies, is that the United States has bases and a troop presence in the kingdom, including significant US Air Force assets.

Washington has already pledged to help the Israelis repel any future Iranian ballistic missile counterattacks, as it did in the last two rounds of drones and ballistic missiles fired on Israel.

🛢 Bullish #Oil Bets Rose Most in Y.ears After Iran Attack Last Week – Bloomberg
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— Christophe Barraud🛢🐳 (@C_Barraud) October 11, 2024

A broader Iran-Israel war would certainly see the US pressure the Saudis and GCC to allow American fighter jets based out of the Gulf to engage Iran.

Meanwhile Saudis appear to be taking steps to appease Iran: “As part of their attempts to avoid being caught in the crossfire, Gulf states including Saudi Arabia, the United Arab Emirates and Qatar are also refusing to let Israel fly over their airspace for any attack on Iran and have conveyed this to Washington, the three sources close to government circles said,” Reuters detailed this week.

ISRAEL/HEZBOLLAH

WATCH: IDF locates military equipment, loaded Hezbollah missile launcher aimed towards Israel

Soldiers dismantled terrorist infrastructure and destroyed weapons belonging to Hezbollah, as well as engaged in close-quarter combat with terrorists. 

By JERUSALEM POST STAFFOCTOBER 10, 2024 23:58Updated: OCTOBER 11, 2024 00:06

https://player.jpost.com/public/player.html?player=jpost&media=3784133&url=https://www.jpost.com/middle-east/article-824185IDF soldiers under the 91st Division conducted limited ground operations in southern Lebanon, October 10, 2024 (IDF Spokesperson’s Unit).

Jpost.com/middle-east/article-824185

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The 91st Division of the IDF conducted limited and localized ground raids in southern Lebanon, the military said on Thursday evening. 

In these operations, soldiers dismantled terrorist infrastructure and destroyed weapons belonging to Hezbollah, as well as engaged in close-quarter combat with terrorists. 

Additionally, soldiers from the 3rd Brigade discovered approximately 800 military vests and hundreds of weapons that included grenades, explosives, AK-47s, and more. 

Missile launchers aimed toward Israel located

Soldiers from the 8th Brigade located boxes of weapons stored inside civilian homes, including ammunition and a Kornet missile launcher with dozens of ready-to-fire missiles aimed at Israeli communities in the Galilee. 

Other brigades in the division, including Nahal Brigade and the 769th Brigade, continued to conduct targeted ground raids in Lebanon, the military not

ISRAEL/IRAN/USA.HEZBOLLAH/HAMAS.HOUTHIS

END

ISRAEL HEZBOLLAH

WATCH: IDF locates military equipment, loaded Hezbollah missile launcher aimed towards Israel

Soldiers dismantled terrorist infrastructure and destroyed weapons belonging to Hezbollah, as well as engaged in close-quarter combat with terrorists. 

By JERUSALEM POST STAFFOCTOBER 10, 2024 23:58Updated: OCTOBER 11, 2024 00:06

https://player.jpost.com/public/player.html?player=jpost&media=3784133&url=https://www.jpost.com/middle-east/article-824185IDF soldiers under the 91st Division conducted limited ground operations in southern Lebanon, October 10, 2024 (IDF Spokesperson’s Unit).

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-824185&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20241010_6d7ddf7be66ec58bc5f4f6bc2662519dc1dc70ba&useBunnyCDN=0&themeId=140&unitType=tts-player

https://www.jpost.com/middle-east/article-824185

The 91st Division of the IDF conducted limited and localized ground raids in southern Lebanon, the military said on Thursday evening. 

END

ISRAEL/HEZBOLLAH/THURSDAY NIGHT

Israelis desperate to eliminate Safa. They blast two apartment buildings trying to get him

(Jerusalem{Post)

Senior Hezbollah figure appears to escape as Israeli strikes rock central Beirut

Lebanon says 22 others killed in attack on areas of Lebanese capital previously unscathed by conflict; IDF eases some restrictions in north even as rocket fire persists

By ToI Staff and AgenciesToday, 1:41 am

People gather in front of buildings hit by an Israeli airstrike in central Beirut, Lebanon, Thursday, October 10, 2024. (AP Photo/Bilal Hussein)

Large blasts shook Beirut on Thursday evening as Israeli airstrikes targeted at least one senior Hezbollah member in a previously untouched neighborhood in the Lebanese capital. The strike came as troops continued to raid villages in southern Lebanon and as Hezbollah launched dozens of rockets across the border into Israeli cities and towns.

Wafiq Safa, Hezbollah’s Liason and Coordination Unit chief, was thought to be the target of one of the strikes, but managed to elude the attack on a third-floor apartment near central Beirut, three security sources told Reuters.

The sources did not provide any further information.

At least 22 other people were killed and more than 100 were injured in the strikes, Lebanon’s health ministry said, although Lebanese medical source estimated that the toll was likely to rise as search and rescue operations continued.

The IDF did not immediately comment on the strikes, which appeared to mark deadliest attacks in the center of the capital since Israel escalated its campaign against Hezbollah last month.

Shortly after nightfall, Lebanese media reported that an apartment in an eight-story building on the edge of the Al Nuwairi and Ras el-Nabaa neighborhoods had been targeted in an Israeli airstrike.

A second building located in the nearby Basta neighborhood was also said to have been targeted minutes later.

Lebanese civil defense members and other people inspect the site of an Israeli airstrike on the Basta neighborhood of Beirut on October 10, 2024. (Hassan Fneich/AFP)

Neither of the locations had previously been targeted in Israeli airstrikes, and they were well removed from the southern suburbs of Beirut, where Hezbollah’s headquarters are located.

It was the third time that such a strike had taken place beyond Beirut’s southern suburbs, though there have also been Israeli strikes on Hezbollah assets across southern Lebanon and in the eastern Beqaa Valley.

Reuters witnesses said at least one strike hit near a gas station and a thick column of smoke was visible. A large fire blazed in the background as rescue workers used torches to search the rubble for survivors, according to video broadcast by Hezbollah’s al-Manar television.

The attempt to kill Safa, whose role merges security and political affairs, marked a widening of targeting of Hezbollah officials by Israel, which had so far focused on the group’s military commanders and top leaders.

Safa, whom Middle East media reports said was born in 1960, oversaw negotiations that led to a 2008 deal in which Hezbollah exchanged the bodies of Israeli soldiers captured in 2006 for Lebanese prisoners in Israel.

Hezbollah official Wafiq Safa, right, alongside convicted terrorist Samir Kuntar, freed in a swap with Israel for the bodies of two soldiers, at the airport in Beirut on July 16, 2008. (AFP/HASSAN IBRAHIM)

Hezbollah’s deadly 2006 raid into northern Israel triggered a 34-day war with Israel.

In 2021, Reuters reported that Safa warned the judge investigating Beirut’s catastrophic 2020 port explosion, who sought to question several politicians allied with Hezbollah, that Hezbollah would remove him from the probe .

He 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.

At the same time as details of the strikes in central Beirut continued to emerge, the IDF’s Arabic language spokesman Col. Avichay Adraee called on Lebanese civilians near two buildings in the southern suburb, a Hezbollah stronghold known as Dahiyeh, to evacuate immediately ahead of airstrikes.

“You are in the vicinity of facilities belonging to Hezbollah,” Adraee warned, calling on civilians to distance themselves at least 500 meters from the targeted buildings, which were highlighted in two maps published alongside the statement.

#عاجل ‼️ انذار عاجل إلى سكان الضاحية الجنوبية في حارة حريك وتحديدًا في المباني المحددة في الخريطتيْن وتلك المجاورة لها:
🔴أنتم متواجدون بالقرب من منشآت ومصالح تابعة لحزب الله وسيعمل ضدها جيش الدفاع على مدى الزمني القريب
🔴من أجل سلامتكم وسلامة أبناء عائلتكم عليكم اخلاء هذه… pic.twitter.com/CrByEHl0ZR

— افيخاي ادرعي (@AvichayAdraee) October 10, 2024

The IDF also warned civilians in southern Lebanon not to return to their homes, to avoid being harmed by ongoing fighting, which injured two peacekeepers near a UNIFIL base in the coastal Naqoura area earlier in the day.

Despite the incident, the UN peacekeeping force again rejected Israel’s request that it evacuate its posts along the border due to concerns the fighting could harm Blue Helmets stationed there.

The peacekeeping force is deployed along the border to enforce the 2006 UN Security Council Resolution 1701, which bars Hezbollah from maintaining a military presence south of the Litani River.

However, the terror group has blatantly violated the resolution for much of its existence, and the UN has failed to stop it from doing so, Israel charges.

Rescuers search for survivors at the site of an overnight Israeli airstrike that targeted the southern Lebanese village of Derdghaiya on October 10, 2024. (Photo by Bilal KASHMAR / AFP)

Israel’s Channel 12 news reported Thursday evening that Foreign Minister Israel Katz had written to the UN Security Council lambasting the international body for its failure to enforce Resolution 1701.

Israel launched its ground operation in southern Lebanon on September 30, aiming to demolish Hezbollah infrastructure near the Israeli border to enable the safe return of Israeli residents to their homes in the north of the country, after a year of near-daily cross-border attacks.

Israel has ordered the evacuation of dozens of Lebanese localities amid the fighting, which the UN said has caused 600,000 people to become internally displaced.

In a video statement distributed to foreign press Thursday, IDF spokesman Rear Adm. Daniel Hagari said troops in an evacuated village “built by Hezbollah” were “raiding every house, seizing all equipment, and dismantling Hezbollah’s ability” to carry out a plan similar to last year’s October 7 Hamas terror onslaught in southern Israel.

“This is a terror base,” he said, “every house here is ready for a raid against Israel.”

Follow IDF spokesperson RAdm. Daniel Hagari inside a Hezbollah terrorist stronghold in southern Lebanon. pic.twitter.com/cckNIAdr8Y

— Israel Defense Forces (@IDF) October 10, 2024

The IDF revealed what it said was evidence of the Iran-backed terror group’s plans last week, presenting images and maps from the foiled mass invasion plot.

The army says that numerous Hezbollah positions and tunnels, as well as thousands of weapons, have since been destroyed by troops.

Hezbollah rockets continued to rain down on northern Israel on Thursday, even as the IDF’s Home Front Command announced that it was easing restrictions on gathering in certain areas to allow for communal High Holiday prayers.

A barrage of some 50 rockets triggered sirens in multiple communities in the afternoon, including in Acre and Nahariya.

No injuries were caused as a result, although several impacts were identified.

Shortly after, the Israeli Air Force said it had intercepted a “hostile aircraft” over the Western Galilee, followed by a drone that crossed into the Upper Galilee from Lebanon.

An IDF tank operates in southern Lebanon, October 10, 2024. (Lazar Berman/Times of Israel)

Sirens were triggered in the area due to concerns that the interception would lead to falling fragments, but the IDF said that there had been no report of injuries.

Despite the rocket fire, educational activities will be able to resume in the central Galilee under new guidelines issued by the army Thursday, so long as they take place near shelters. In the Upper Galilee, meanwhile, they will be able to resume only from within shelters.

In the southern Golan Heights, Lower Galilee, the Carmel and Wadi Ara areas, the Home Front Command said gatherings would be allowed to take place outdoors with 100 people or less, and indoors with 350 or less.

END

ISRAEL/HEZBOLLAH FRIDAY MORNING/THEY GOT HIM

Senior Hezbollah leader Wafiq Safa in ‘critical condition’ after IAF strike in Beirut

Safa “was seriously injured and is in critical condition,” the sources claimed.

By JERUSALEM POST STAFFOCTOBER 11, 2024 13:27Updated: OCTOBER 11, 2024 13:41

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Senior Hezbollah security official Wafiq Safa was critically wounded during a Thursday Israel Air Force strike on Beirut, sources told Sky News Arabic on Friday.

Safa “was seriously injured and is in critical condition,” the sources claimed.

According to Y-Net, the Israeli military conducted two airstrikes on the Hezbollah stronghold of Dahieh in the Lebanese capital on Thursday.

Safa is Hebollah’s Liaison and Coordination Unit head

Citing reports, Y-Net stated that the attack may have targeted Safa, who the Israeli outlet noted serves as Hebollah’s Liaison and Coordination Unit head.

This is a developing story. 

END

ZERO HEDGE ON SAME STORY

Single Deadliest Israeli Attack Of War Hits Central Beirut, But Hezbollah Commander Escapes

Friday, Oct 11, 2024 – 11:10 AM

On Thursday another major Israeli airstrike targeting central Beirut was an attempt to assassinate senior Hezbollah member Wafiq Safa, responsible for internal security issues, according to officials cited on Israeli Army Radio.

Raids hit the Ras al Nabaa area in central Beirut. Israeli jets have for almost two weeks pounded Hezbollah strongholds in south Beirut, which is also densely-packed with civilian families. But much more rare have been airstrikes targeting the center of the capital.

Israel says it was seeking to kill Hezbollah’s Safa by attacking and destroying a residential area of apartment buildings and small shops. After emergency and rescue crews worked through the night, Lebanese authorities said 22 people were killed, which marks the single deadliest attack on the capital since hostilities began.

“The casualties in central Beirut on Thursday night rose quickly; the Lebanese health ministry reported 22 people killed and 117 wounded,” The Guardian writes. “Among the dead were a family of eight, including three children, who had evacuated from the south, according to a security source.”

Israeli media along with international reports are admitting that Wafiq Safa survived. One report claims he “was seriously injured and is in critical condition” in the strikes. Lebanese sources also confirmed to American media that he survived.

Lebanon’s caretaker PM Mikati condemned this and other Israeli attacks, and demanded an “immediate” ceasefire with Israel. He said in total among all Israeli strikes on Lebanon Thursday that 139 people were killed.

“All of them were civilians. This is no longer acceptable. Where is the humanity? What reality are we living in?” he said.

As for the desire for ceasefire, it remains that the Lebanese government has no control over Hezbollah. The Shia paramilitary group supported by Iran is by far better armed than the Lebanese Army. US-led sanctions have long limited what Lebanese national forces can receive, and Lebanon has no air force to speak of.

Meanwhile, Hezbollah says it has retaliated for recent attacks by launching drones on an Israeli military base in Kiryat Eliezer in Haifa. It further said rockets targeted groups of soldiers in the Zovolon area, north of Haifa, and in the settlement of Kafrsold. An IDF barracks in northern Israel was also shelled, according to Al Jazeera.

On Thursday Israel announced that three army reservists had died during operations against Hezbollah on the northern front, marking the first significant reserve casualties since the fresh ground offensive launched this month.

* * *

Qatar-based Al Jazeera has listed the following developments on Friday…

• Gaza’s Health Ministry says 61 Palestinians were killed and 231 wounded in the latest 24-hour reporting period.
• Israeli forces fired at a watchtower used by UN peacekeepers in southern Lebanon, injuring two people.
• “Scene of chaos” in Beirut after Israel strikes the city centre, destroying two residential buildings, killing at least 22 people and wounding 117.
• Israeli attacks continue in Gaza, with a number of people, including an infant, killed in Jabalia and Deir el-Balah.
• UN peacekeeping chief tells Security Council that the safety and security of peacekeepers in Lebanon is “increasingly in jeopardy” as Israeli forces open fire on UNIFIL posts in the country’s south.
• In Gaza, at least 42,126 people have been killed and 98,117 wounded in Israeli attacks since October 2023, according to Gaza’s health ministry. In Israel, at least 1,139 people were killed on October 7, 2023, and more than 200 people were taken captive.
• END

ISRAEL/CBS

WOW!!

(JERUSALEM POST USA NETWORK: CBS)

CBS memo sparks outrage: Journalists instructed not to acknowledge Jerusalem as part of Israel

The news organization’s initial reasoning was that the control of the city was “the heart of the issue.”

By JERUSALEM POST STAFFOCTOBER 11, 2024 12:47Updated: OCTOBER 11, 2024 13:10

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CBS News is facing backlash after an internal memo instructed journalists not to refer to Jerusalem as part of Israel, igniting criticism from media figures and raising concerns about journalistic integrity. The memo, sent by CBS News senior director of standards Mark Memmott in late August, emphasized the disputed status of Jerusalem, despite its recognition as Israel’s capital by the US government.

This directive, alongside internal tensions sparked by an interview conducted by CBS Mornings co-host Tony Dokoupil on anti-Israel perspectives, has fueled controversy both within CBS and across the media landscape.

Memmott’s email advised CBS News staff to avoid saying Jerusalem is in Israel, noting that “the status of Jerusalem goes to the heart of the Israeli-Palestinian conflict.” While the US embassy is in Jerusalem, and the Trump administration formally recognized it as Israel’s capital in 2017, the memo emphasized that its status is disputed. Israel considers Jerusalem its “eternal and undivided” capital, while Palestinians claim East Jerusalem—captured by Israel during the 1967 war—as the capital of a future Palestinian state.

Backlash created by memo

The directive sparked outrage across social media and among journalists. Adam Rubenstein, contributing editor at The Free Press, stated, “Standards desks are now instructing journalists to deny reality.” Fox News contributor Guy Benson responded, “Jerusalem is not only in Israel, it is the capital of Israel. What on earth is happening at CBS?” Washington Examiner senior writer David Harsanyi added, “Then we can stop referring to CBS employees as journalists.”

The US Congress recognized Jerusalem as Israel’s capital in 1995 with the passage of the Jerusalem Embassy Relocation Act. Former President Donald Trump further solidified the US stance by formally recognizing the city as Israel’s capital in 2017. CBS News has not yet responded to the controversy surrounding the memo.

This issue comes amid broader internal tensions at CBS News, highlighted by a controversial interview conducted by CBS Mornings co-host Tony Dokoupil, who has personal ties to Israel as a convert to Judaism.

Dokoupil interviewed journalist Ta-Nehisi Coates, whose book The Message presents an anti-Israel perspective. During the interview, Dokoupil questioned Coates, suggesting that the book “would not be out of place in the backpack of an extremist” due to its stance on Israel. Coates responded by likening Israel’s treatment of Palestinians to the struggles of Black people in the US and Africa, describing Israeli policies as “apartheid” in the occupied territories.

After the interview, CBS News reportedly required Dokoupil to meet with the network’s Race and Culture Unit after complaints about his tone and body language during the interview. Despite this, a source familiar with the situation confirmed that Dokoupil would not be further reprimanded. CBS legal correspondent Jan Crawford defended Dokoupil during a staff conference call, and Paramount Global chair Shari Redstone reportedly referred to the reprimand as a “mistake.”

On Tuesday, Dokoupil addressed CBS staff in an emotional meeting, apologizing for putting his colleagues in a difficult position, especially journalists reporting from conflict zones. The backlash has revealed broader concerns within CBS News about how Jewish issues are treated. One CBS employee commented, “There is a huge difference between how all ethnic or minority groups are treated and how Jews and Jewish issues are treated.”

END

ISRAEL/HEZBOLLAH/FRIDAY MORNING

WATCH: Israel Air Force strike eliminates Hezbollah Radwan Force commander Araeb el Shoga

A series of explosions that followed airstrikes on terror structures led the military to identify additional weaponry hiding nearby.

By JERUSALEM POST STAFFOCTOBER 11, 2024 11:00Updated: OCTOBER 11, 2024 11:14

https://player.jpost.com/public/player.html?player=jpost&media=3784216&url=https://www.jpost.com/breaking-news/article-824212Israel Air Force jets strike Hezbollah Radwan Force anti-tank array commander in southern Lebanon. October 11, 2024. (Credit: IDF Spokesperson’s Unit)

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Israel Air Force fighter jets carried out an attack on terror infrastructure in southern Lebanon and eliminated Hezbollah terrorist Araeb el Shoga on Friday morning, the IDF announced.

Al-Shaja’a was an anti-tank commander in Hezbollah’s Radwan Forces’ Anti-tank Missile Unit in Meiss El Jabal, southern Lebanon, and was responsible for constant anti-tank fire toward northern Israel, the military stated.

The military also reportedly identified and struck a launcher that was prepared to fire toward Israeli territory and IDF troops.

IAF and IDF ground soldiers carry out effective strikes on terror infrastructure

IDF ground troops also worked in conjunction with the air force to strike nearby terrorists operating inside a structure adjacent to the IDF’s operational points, the military said.

This strike led to several other secondary explosions in terror infrastructure nearby, indicating the presence of large quantities of weapons and explosives nearby, the IDF continued.

This reportedly led to further strikes on terror infrastructure.

END

ISRAEL//IRAN/LEBANON/HEZBOLLAH/FRIDAY MORNING

OPINION///

Calls for intervention: Will Iran send forces to aid Hezbollah against Israel? – analysis

The Iranian regime appears to be blocking initiatives to send forces to Lebanon, likely because it recognizes that the damage from such a move would outweigh the potential benefits.

By DR. YOSSI MANSHAROFOCTOBER 11, 2024 09:28

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In the Iranian media discourse since the assassination of Nasrallah, initiatives from various factions have emerged, calling for the deployment of forces to support Hezbollah’s fight against Israel.

The Iranian regime appears to be blocking these initiatives, likely because it recognizes that the damage from such a move would outweigh the potential benefits.

But the question remains: Will Iran send forces to Lebanon to fight against Israel?

The ideological and emotional connection with Nasrallah

Since the assassination of Hezbollah Secretary-General Hassan Nasrallah, along with Quds Force Commander in Lebanon Abbas Nilforoushan, on September 27, initiatives have surfaced within the Iranian regime and its supporters, calling for the Islamic Republic to send volunteer forces to Lebanon to aid Hezbollah in its time of crisis.

The unprecedented blows Israel has dealt to Hezbollah not only place the terrorist organization in a difficult situation but also create a problematic scenario for Iran.

The Lebanese arena, and Hezbollah in particular, represent the most successful model of exporting the Islamic Revolution. Hezbollah is seen as “the jewel in the crown” of Iran’s proxy network, which it has cultivated since the early 1980s.

Beyond Hezbollah’s strategic importance to Iran’s national security concept, many within the Iranian regime had an ideological and emotional connection with Nasrallah, a relationship that developed over many years.

These ties grew when Nasrallah studied in religious seminaries at the leading spiritual center in Iran, the city of Qom, in the second half of the 1980s, before Nasrallah was appointed Hezbollah leader following Abbas Musawi’s assassination by the IDF in 1992.

Since then, his personal connections have grown stronger. This was driven by his close collaboration with Quds Force Commander Qassem Soleimani, who assumed the role in 1998.

Nasrallah’s landmark achievement in 2000, with the IDF’s withdrawal from southern Lebanon, further solidified his position, and his rise as a senior figure in Iran’s proxy network intensified even more after Soleimani’s assassination by the US in 2020.

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‘Iran cannot be indifferent to the blows Hezbollah is suffering’

In light of this, it was Ayatollah Mohammad Hassan Akhtari (born 1939) who, on September 28, the day after Nasrallah’s assassination, proposed to the regime to send volunteer forces to Lebanon and the Syrian Golan.

Akhtari, known as one of Hezbollah’s founding fathers, played a senior role in establishing and nurturing the organization while serving as Iran’s ambassador to Syria from 1986 to 1997.

Currently, Akhtari heads the “Committee for the Support of the Islamic Revolution of the Palestinian People,” under the office of the Iranian president, established through the 1990 law to promote support for the Palestinian struggle against Israel.

Akhtari explained that Iran cannot remain indifferent and must participate directly in the fighting; thus, it should send young volunteers to Lebanon and the Syrian Golan to fight against Israel.

The Basij, a volunteer paramilitary militia within the IRGC, also opened social media accounts to register citizens for deployment to Lebanon.

On September 30, a group of students and residents from Qom arrived at Tehran’s airport and demanded that the regime send them to fight in Lebanon.

Subsequently, Mohsen Rafighdoost, one of the founders of the Revolutionary Guards, stated in a media interview on October 3 that the option of sending military forces to Lebanon and the Syrian Golan is on the table for Iranian decision-makers.

The regime restrains initiatives to send forces to Lebanon and the Syrian Golan

However, the Iranian authorities quickly clarified that they had no intention of responding to these calls. On September 30, Iranian Foreign Ministry spokesman Nasser Kanaani announced that Tehran would not send volunteer forces to Lebanon, explaining that Lebanon has the capacity to defend itself.

The deputy commander of the Revolutionary Guards, Mohammad Reza Naqdi, added on October 6 that Tehran does not intend to send forces to Lebanon, stating that the commanders of the resistance front have not reported a manpower shortage and, therefore, they have not requested such assistance from Iran.

A senior official in Iran’s religious seminaries echoed this sentiment in a media interview on October 6, explaining that the physical presence of Iranian elements in Lebanon would not be beneficial at this time and, therefore, no volunteers should be sent to Lebanon unless Iran’s leader, Khamenei, approves it.

In the past year, following assassinations attributed to Israel targeting senior Quds Force officials, particularly Hassan Mahdavi, the Quds Force commander in Syria and Lebanon, Khamenei has led a significant shift in Iran’s security strategy.

In April, he decided to attack Israel directly with ballistic missiles, cruise missiles, and drones. In early October, he again led a direct attack on Israel, this time consisting of around 200 ballistic missiles.

Before this, for decades, Iran overwhelmingly preferred to attack Israel indirectly through its proxy network.

Earlier, in the second half of the last decade, Khamenei had already sent thousands of fighters from the Quds Force, the Iranian army, and even the Iranian police and Basij to the battlefield in Syria and Iraq to fight against ISIS, which posed an existential threat to Iran.

However, the shift Khamenei is leading is not all-encompassing and does not include sending fighters for direct combat against Israel.

It appears Khamenei is aware that such a move would place Iran squarely in the spotlight in the fight against Israel and push Israel to launch significant attacks on Iranian territory.

This goes beyond the risky gamble Khamenei already took with his recent missile strike, which presents Israel with an excellent opportunity to strike back at Iran with considerable international legitimacy.

Moreover, sending fighters would leave Iran exposed to attacks from Israeli troops on the ground and other retaliatory strikes from Israel.

Khamenei, whose entire regime, and especially the nuclear program, are his life’s work, would not want to put them at high risk.

Reformists have voiced concern through their media outlets, warning that Khamenei might be dragging Iran into an Israeli trap designed to provoke Iran into a full-scale regional war involving the US.

Therefore, while the initiatives to send forces to Lebanon and the Syrian Golan may continue, Khamenei is expected to manage the risks carefully and avoid escalating beyond the already high level of risk he has placed on Iran.

Dr. Yossi Mansharof is a researcher of Iran, Hezbollah, and Shia militias at the Misgav Institute for National Security and Zionist Strategy.

END

Biden and Netanyahu narrowing gaps on how they wish to attack Iran

Israel and US seen narrowing gaps on Iran

The US and Israel are overall on the same page regarding strategic challenges in the Middle East following Wednesday’s phone call between Prime Minister Benjamin Netanyahu and US President Joe Biden, an Israeli source familiar with the matter tells The Times of Israel.

The phone call, to discuss Israel’s retaliation plans against Iran, was the culmination of discussions between US and Israeli officials that have been ongoing since Tehran’s October 1 ballistic missile attack, the source says.

Those conversations will continue in the days ahead, and Defense Minister Yoav Gallant is slated to meet with US Defense Secretary Lloyd Austin at the Pentagon next week, the source adds.

Netanyahu earlier this week blocked a planned trip by Gallant to Washington at the last minute, demanding that he be able to speak to Biden first about what Israel is looking to do against Iran.

A US official quoted by Axios says the allies “are moving in the right direction” following the call, though an Israeli official cited by the outlet says the US still thinks Israel’s plans are too aggressive.

end

ISRAEL HAMAS

3 reserve soldiers killed in northern Gaza as IDF presses offensive in Jabaliya

Palestinian Red Crescent reports 28 killed in strike on Hamas command post at former school; military says Hamas commanders who took part in Oct. 7 targeted in Wednesday airstrike

By ToI Staff10 October 2024, 8:38 pmUpdated at 9:31 pm

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 said Thursday that three reserve soldiers were killed amid fighting in the northern Gaza Strip, where the military launched a fresh ground offensive this week to prevent Hamas from reestablishing itself in the area.

The three, all soldiers in the 5460th support unit of the 460th Brigade, were 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.

The announcement came as the IDF said troops were pressing ahead with the operation in northern Gaza’s Jabaliya, where according to a military statement they killed dozens of terror operatives over the previous 24 hours.

The statement said troops captured weapons including rifles, RPG launchers, and ammunition.

Illustrative: Israeli soldiers operate in the Gaza Strip, in photos released on October 10, 2024. (Israel Defense Forces)

The update came a day after the IDF carried out a strike on a command and-control complex in Jabaliya that eliminated at least twelve terrorists, some of whom took part in the murderous terror attack against the residents of the Gaza border communities on October 7” last year, according to a joint statement Thursday from the military and Shin Bet security service.

The statement named twelve men, identifying them as terror operatives who were affiliated with either Hamas or Palestinian Islamic Jihad.

“Large quantities of weapons were stored inside the command and control center, and it was used by the terrorists to plan and execute terror attacks against IDF troops and the citizens of the State of Israel,” the joint statement said, adding that the site previously served as a medical compound.

Those killed also included a platoon commander in Hamas’s military intelligence unit, a deputy platoon commander in a Hamas anti-tank unit, two platoon commanders in Hamas’s elite Nukhba force and a Hamas engineering operative, the statement said.

The IDF said it took steps to mitigate civilian harm ahead of the strike.

Terrorists whom the IDF says it eliminated in an airstrike in north Gaza’s Jabaliya on October 9, 2024. (IDF)

On Thursday, the military struck another alleged Hamas command post at a school-turned-shelter in central Gaza’s Deir Al-Balah.

The Palestinian Red Crescent said the strike on the Rufaida school complex killed 28 people and wounded 54 others, without differentiating between civilians and combatants.

“Prior to the strike, numerous steps were taken to mitigate the risk of harming civilians, including the use of precise munitions, aerial surveillance, and additional intelligence,” the military said in a statement.

Israel also noted that Hamas and other terror groups have routinely used schools, shelters and other protected facilities for their operations, with the civilians there serving as human shields. The IDF vowed to continue striking terror operatives wherever they are, while making efforts to minimize harm to nearby civilians.

Witnesses quoted by The Associated Press said the strike occurred while school managers were meeting with representatives of an aid group in a room normally used by Hamas-run police who provide security. They said there were no police in the room at the time.

The Palestinian branch of Terre des Hommes, a Swiss aid group, said in a statement that members of one of its children’s health teams were killed in the strike, though it did not specify how many.

Palestinians at the site of an Israeli airstrike at the Rufaidah School, in Deir al-Balah, in the central Gaza Strip, on October 10, 2024. (Abed Rahim Khatib/ Flash90)

According to the military, troops eliminated numerous gunmen, uncovered weapons and demolished military infrastructure in ground operations in central Gaza on Thursday. In southern Gaza’s Rafah, forces located and destroyed rocket launchers, weaponry, and underground tunnel shafts used by terror operatives, the IDF said.

Also Thursday, a small drone was launched from the Gaza Strip toward Israel and downed by the IDF as it crossed the border, the military said. No one was hurt in the incident.

Along with the ground operations, the Israeli Air Force hit around 30 Hamas targets in Gaza over the past day, according to the military, which said the strikes targeted terror cells, weapon stockpiles, launchers, buildings, underground infrastructure and other assets of terror groups.

Meanwhile, the UN children’s agency announced Thursday that Israel had agreed to “humanitarian pauses” in specific areas of Gaza to facilitate a second round of polio vaccinations for some 590,000 children under the age of 10. Israel has yet to comment on the announcement.

Head of Hamas in Gaza Yahya Sinwar chairs a meeting with leaders of Palestinian factions at his office in Gaza City, April 13, 2022. (AP Photo/Adel Hana, File)

The fighting came after the the United States said Wednesday that it believes Hamas leader Yahya Sinwar is alive and likely hiding in an underground Gaza tunnel with hostages in his vicinity.

“Yahya Sinwar remains the decision maker. He remains — we believe — alive and in a tunnel underneath Gaza, holding hostages, and likely with hostages in his vicinity,” said White House Mideast czar Brett McGurk, during a High Holiday call with American rabbis.

The terror leader, who had dropped out of contact, was said in controversial reporting this week to have gotten back in touch with Qatari mediators of a potential hostage-ceasefire deal — saying he wants “immunity” from a potential targeted strike during the talks, according to Channel 12.

It is believed that 97 of the 251 hostages abducted by Hamas on October 7 remain in Gaza, including the bodies of at least 34 confirmed dead by the IDF.

Hamas released 105 civilians during a weeklong truce in late November, and four hostages were released before that. Eight hostages have been rescued by troops alive, and the bodies of 37 hostages have also been recovered, including three mistakenly killed by the military as they tried to escape their captors.

Hamas is also holding two Israeli civilians who entered the Strip in 2014 and 2015, as well as the bodies of two IDF soldiers who were killed in 2014.

Agencies contributed to this report.

end

RUSSIA/UKRAINE

While “Fighting For Democratic Values”, Zelensky Seeks To Squash Any Dissenting Voices

Friday, Oct 11, 2024 – 06:30 AM

Authored by Liz Heflin via Remix news,

The Ukraińska Pravda website is accusing the office of Ukrainian President Volodymyr Zelensky of “long-term and systemic pressure” on journalists, saying that representatives of the authorities in Kyiv cannot talk to the portal’s journalists. It also makes clear that they will be making sure the international public knows about the situation. 

The office of the President of Ukraine Volodymyr Zelensky is putting pressure on the business to bring about the termination of advertising cooperation with the editorial office of the service.

“We draw the attention of our colleagues, partners and international organizations to the long-term and systematic pressure exerted by the Presidential Office on the editorial office and individual journalists of Ukrayinska Pravda,” the portal’s statement reads.

“We would like to remind you that the values ​​of Ukrayinska Pravda since its establishment in 2000 have been editorial independence, objectivity and the ability to speak the truth,” it added.

The journalists stressed that the behavior of the Ukrainian authorities is “exceptionally outrageous” during the aggression from Russia. 

The editorial office of Ukrayinska Pravda intends bring these issues into the international arena, including that the end goal is to discourage advertising on the site, i.e., making it impossible for the portal to operate. 

The portal noted an “openly emotional conversation” between Ukrainian President Volodymyr Zelensky and journalist Roman Kravets in August, during which Zelensky tried to influence the editorial line of the website. 

This is not the first time Ukraińska Pravda has faced ire from authorities given their dedication to independent journalism, and it is not the first time the portal has found itself in the crosshairs of those in power. Back in 2016, one of their top writers, Pavel Sheremet, was killed in a car bomb. The case has never been solved, with numerous questions surrounding the investigation.

Human Rights Watch said back in 2017 that “Sheremet was known for his incisive journalism, raising issues of public concern – such as violence by volunteer battalions and investigations into corruption – that were often uncomfortable for the authorities.” The organization stated that he had been “harassed, threatened, and detained for his work,” further calling Ukrainskaya Pravda “a fiercely independent newspaper.”

The journalists at Ukraińska Pravda say they will not give in to attempts at censorship. They also called on the international community and all those who value freedom of speech to support the defense of the independence of Ukrainian media. 

“These and other non-public signals indicate an attempt to influence our editorial policy. It is particularly outrageous to realize this during Russia’s full-scale war against Ukraine, when our common fight for both survival and democratic values ​​is so necessary,” they stated.

Read more here…

end

UKRAINE/HUNGARY/USA

Hungary Might Delay G7’s $50BN Loan To Ukraine Until After US Election

Friday, Oct 11, 2024 – 05:00 AM

Authored by Kyle Anzalone via The Libertarian Institute,

The Hungarian government announced it will seek to prevent a vote on the European Union’s participation in a $50 billion Group of Seven (G7) loan to Ukraine. The G7 will use investments and interest gained from frozen Russian funds to pay off the loans. 

Finance Minister Mihaly Varga explained that Budapest wants the issue decided within the EU after the US election. “We believe that this issue, the prolongation of the Russian sanctions, should be decided after the US elections. We have to see in which direction the future US administration is going with this issue,” he said. 

The $50 billion loan is a scheme devised by Washington and its allies in the G7 to give Ukraine a significant influx of cash without it coming directly from a Western government. The terms of the loan call for Ukraine to receive $50 billion, and then G7 countries that freeze a collective $200 billion in frozen Russian funds will use the interest generated to pay off the loan. 

However, Moscow’s money is frozen as part of the EU’s sanctions on Russia. Those sanctions are renewed every six months, and the loans will take several years to pay off. The White House has refused to sign off on the loan until the EU extends the duration of the sanctions on Russia for at least three years. 

Earlier this month, Western officials said they believed the loan could be approved sometime in October, meaning Kiev would have access to the funds by the end of the year. Budapest’s block will push the loan back at least a week. 

It is unclear what Hungarian Prime Minister Viktor Orbán hopes will change by delaying the loan for a few weeks. Orbán has attempted to create the conditions for Russia and Ukraine to come to the negotiation table with little success.

The Hungarian leader has spoken with former President Donald Trump and believes he may attempt to end the conflict between Msocwo and Kiev if he returns to office. According to fresh words from PM Orbán this week:

Speaking at a press conference in Strasbourg on Tuesday, Orban said that should Trump defeat his Democratic rival Kamala Harris, “he will not wait until the inauguration ceremony … in order to manage a peace” in Ukraine.

Trump “will act immediately, so we as European leaders don’t have any time to waste, because there would not be two or three months, as we usually have between the election and the inauguration of the new president,” Orban said.

He urged European leaders to “react first intellectually, philosophically, then strategically, and then at the level of action as soon as possible.”

EU leadership has meanwhile blasted Orban for being too close to Russia and China…

Ursula von der Leyen slammed Viktor Orbán after he spoke to the European Parliament for cozying up to putin, allowing foreign interference by Russia and China.

“Prime Minister,

“I heard your words over the weekend. You said that Hungary is 'protecting its borders', and that… pic.twitter.com/0uCOhqT5s4

— Yasmina (@yasminalombaert) October 9, 2024

RT writes, “Orban also pointed to foreign policy differences between the current Democratic administration and the Trump team, and admitted that he is rooting for the GOP candidate.”

Orbán expectations that Trump will try to end the war may be misplaced. As president, Trump significantly increased Washington’s support for Kiev by sending military aid to Ukraine. Additionally, earlier this year, Trump was crucial in breaking the Congressional impasse over the $95 billion foreign military aid bill that authorized over $60 billion for Ukraine. 

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

GLOBAL ISSUES

Globalists Are Taking The Mask Off And That’s A Bad Sign…

Thursday, Oct 10, 2024 – 11:25 PM

Authored by Brandon Smith via Alt-Market.us,

Remember the last time the globalists took the mask off?  It wasn’t that long ago, but some people might have already forgotten how the western world almost lost all individual freedom under the guise of an over-hyped health emergency.  When globalists are honest about what they truly want, it usually coincides with an engineered calamity.

In the two years since the failure of the covid pandemic narrative I have argued that globalist organizations are trying to regroup under a new plan. The evidence suggests that these people suffered a shocking revelation after their attempt to implement perpetual medical tyranny. They’ve realized they don’t have as much control over the flow of information and public discourse as they originally assumed.

Even with full-spectrum censorship using algorithms to bury contrary data, even with the full force of the government partnering with social media to silence dissent, even with the threat of economic exile for anyone refusing to take a steady series of mRNA jabs, they still failed. The truth about covid’s minimal Infection Fatality Rate (IFR) still spread, along with data proving the uselessness of the mandates and lockdowns.  There was nothing they could do about it.

Their golden ticket to total control was pushing the vaccine passport concept; the alternative media crushed that agenda like a pestilent cockroach. If the passport had been successful we would not be having this conversation now. Everyone would be in fear of having their passport rescinded. Everyone would be afraid to lose their economic access for saying the wrong thing. Everyone would be afraid of being forced into covid camps (which were indeed a real agenda). Or, we would be in the middle of a bloody civil war.

The events of 2020 were meant to initiate the ultimate coup against humanity. The globalists admitted to their plans over and over again. Klaus Schwab and the World Economic Forum proudly declared covid the catalyst for the “Great Reset” and the “Fourth Industrial Revolution.” They asserted that the lockdowns were just the beginning and that the sweeping restriction on our freedoms would be extended to climate change as well.

They thought they had won without firing a shot, but it’s not that easy. Far more people are awake and aware of their motives than they realized, and, at least in America, over 50 million of those people are armed.  The lockdowns are now gone, almost no one took the vax boosters, far fewer people took the vaccine than the CDC claims, and the vax passports were defeated. This victory was made possible due to the efforts of alternative media platforms circumventing Big Tech censorship. It’s that simple.

This is why the next event will probably be far worse in scale and consequence, and the globalists are already attempting to rectify their previous mistake of underestimating citizen journalism. They will try to silence us if they can and they are openly admitting to it in recent conferences and mainstream articles.  The mask is coming off once more and this suggests to me that something very bad is about to happen.

As I noted in 2023 in my article ‘From Covid To Climate Change: Vehicles For Global Authoritarianism’, the globalists seem to have shifted their more tyrannical efforts away from the pandemic and into the climate discourse. If you really want to know what they are up to these days, you have to watch the climate conferences.

At the end of September there was a host of climate change summits including one held by the WEF in New York called the Sustainable Development Impact Meeting.  It was held by the WEF in tandem with the United Nations General Assembly. Not surprisingly, discussion often veered away from climate into “threats to democracy” as well as bitter complaints about the “spread of disinformation.”

John Kerry, former Democratic presidential candidate, former Climate Czar under Joe Biden and a longtime participant in the WEF, said the quiet part out loud at the summit. He argued that the 1st Amendment was a “roadblock” to proper governance and was preventing the elites from controlling public consensus.

His statements are quite blatant.

First of all, consensus is highly overrated and often poisonous. The very basis of science is that it is always up for debate according to the evidence. Once you have forced a “consensus” you have abandoned all due diligence under the scientific method.

This was made obvious during covid, where the “consensus” was exposed as utterly fabricated and most of the claims made by governments and puppet “medical experts” have been proven false. Keep in mind, these were the same people that tried to ban YOU from going to parks and waterboarding at the beach in the name of “flattening the curve.”

I mean, how retarded do you have to be to believe that outdoor activities will lead to viral transmission? That’s not science, that’s hysteria promoted by people claiming to represent science. The same thing goes for the mask mandates, social distancing, the lockdowns, etc. Not one measure they enforced was legitimate.

If we are talking about the concept of man-made climate change, the claim of consensus in science is a lie. The data suggests there is simply no such thing as man-made climate change. There is no evidence of causation between carbon emissions and global warming. No evidence that global warming causes extreme whether. No evidence that our current warming cycle is significant or unique compared to any other warming cycle in history.

In fact, the Washington Post recently and accidentally proved the alternative media’s point on climate change when they tried to map the temperature history of the Earth over 450 million years, only to discover what I have been saying for the longest time – Today’s temps are far lower than they have been through most of the Earth’s history.

But the more important issue here is John Kerry’s assertion that governance requires public information control. Kerry’s fundamental disconnect is his notion that it’s the job of the elites and the government to moderate information for the greater good. No one gave them permission to do this. The government does not exist to create consensus.

The people are in charge, John. As a politician you are just a public servant, nothing more. Your opinions on free speech don’t matter.

Some of the most egregious disinformation is often released to the public by the government and their approved media sources in the name of “saving democracy.” They lie constantly. John Kerry is just angry because now the public has the means to expose him and his cohorts. If a “democracy” requires censorship in order to survive, then it’s not worth saving.

Finally and hypocritically, Kerry suggests that democracy is “too slow” in implementing the changes to society that he views as necessary to create consensus and “unity.” If the 1st Amendment is a “roadblack” to more effective information control and governance, then he and his slimy brethren must intend to remove it. In other words, he believes tyranny would work better because it’s much faster that trying to manipulate the public with propaganda.

He doesn’t explicitly say this, but that’s exactly what he’s inferring.

Besides some of the speeches made by Klaus Schwab at the height of the pandemic, Kerry’s statements might be the most open declaration of globalist authoritarian intent I have ever heard. He’s pulling the mask off and this has me concerned.

His arguments fall in line with a number of articles published in the past couple months from establishment media platforms. The New Yorker just posted an article asking ‘Is It Time To Torch The Constitution?’ The New York Times published a treatise titled ‘The Constitution Is Sacred. Is It Also Dangerous?’ They also wrote an article highlighting the potential positives of despotic governments in countries like Brazil threatening to shut down public access to Elon Musk’s X (Twitter) in order to force the site to censor citizen accounts. These people are on a war path to convince the public that free speech is a threat.

When political elitists and their lackey’s start attacking free speech it’s usually in preparation for a major crisis that they hope to use as a vehicle to eliminate public freedoms. Free speech is the most important liberty because it enables the populace to discern through debate what the truth is and what to do about it.

The globalists thought they had a lock on information during covid and they were wrong. They won’t make the same mistake again. Whatever the next crisis ends up being, they will definitely seek to silence the alternative media and any rebellious social media platforms before they move forward.

*  *  *

MARK CRISPIN MILLER

DR PAUL ALEXZANDER

Once again, Dr. James Hill, MD deserves a Clint hat tip so see next! James raises an issue with Dr. Vinay Prasad’s statement on masks; I love Jame’s definition on limited hangouts & ask him to cut

Vinay some slack as he mis-spoke or knows what he means but did not flesh it out! I gained lots of respect for Vinay & the body of his work, the ‘arc’ is good, helped many! James is my hero!

Dr. Paul AlexanderOct 11

READ IN APP

These are momentous findings to understand.

That’s the thing with limited hangouts. They do good by letting important truths “hang out.” (addition, and thus misdirect you to focus on just a ‘small’ good aspect but the real deadly aspects they omit, those that you SHOULD be focused on; in short, they are like the HOUSE NEGRO who works with the plantation owner master to help subjugate and demean and shackle the real slave, the FIELD NEGRO…btw, I think Trump is a field negro…I am, with real slave ancestry, people like Fauci and Hahn and Biden and Obama and Harris and Bourla and Malone and Schumer and Sharpton and Jesse Jackson and Romney and Powell and Cheney et al. are HOUSE negroes…HOUSE negro is not color…its character and morality and integrity)

Back to James:

But they are “limited” in the sense they steer you away from critical information like intentionality and who’s behind certain operations.

Dr. Vinay Prasad misleadingly claims mask mandates were likely imposed to “distract from federal failures” (substack.com)

Start James here:

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

Upgrade to paid

UC San Francisco professor Vinay Prasad MD MPH joins the pantheon of prominent limited hangouts in providing a fake “aw shucks” reason Covid masks were forced on Americans.

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Dr. Mike Yeadon discovers Del Bigtree and other prominent “vaccine skeptics” are limited hangouts

James Hill, MD

·

Sep 15

Read full story

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Judge Orders Young Chiefs Fan’s Defamation Lawsuit Against Leftist Deadspin to Move ForwardA judge has ruled that a young Kansas City Chiefs fan’s lawsuit against Deadspin can move forward after the leftist sports outlet falsely accused the child of wearing “blackface.”READ MORE

NEWS ADDICTS

EVOL NEWS

Story, Sets Social Media Ablaze – EVOL

Read more…

Trump campaign, Arizona GOP brings in a big gun to run election integrity operation – EVOL

Read more…

Oops! Kamala Forgets to Mute Mic During Hurricane Briefing, Embarrases Herself Live on C-SPAN – EVOL

Read more…

Aftermath: Tornado Wreaks Havoc in Palm Beach Gardens – See the Shocking Damage! – EVOL

Read more…

UPDATE: Severe Flooding Already Happening, Milton Hours From Landfall 100+ Miles Offshore – EVOL

Read more…

Hurricane Milton live updates: Monster storm makes landfall near Siesta Key, Florida – EVOL

Read more…

[WATCH] Large Tornadoes Spotted In Florida Ahead Of Milton, Crosses Interstate – EVOL

Read more…

[VIDEOS] – Dog tied up during hurricane saved in Florida AND DeSantis wants BOOK thrown at people who did it – EVOL

Read more…

Fox News Proposes Presidential Debate, Here’s When – EVOLREAD MORE…

LATEST NEWS:

Star NFL Quarterback’s Wife Posts Pro-Trump Instagram Story, Sets Social Media Ablaze – EVOLRead more…Trump campaign, Arizona GOP brings in a big gun to run election integrity operation – EVOLRead more…Oops! Kamala Forgets to Mute Mic During Hurricane Briefing, Embarrases Herself Live on C-SPAN – EVOLRead more…Aftermath: Tornado Wreaks Havoc in Palm Beach Gardens – See the Shocking Damage! – EVOLRead more…UPDATE: Severe Flooding Already Happening, Milton Hours From Landfall 100+ Miles Offshore – EVOLRead more…Hurricane Milton live updates: Monster storm makes landfall near Siesta Key, Florida – EVOLRead more…[WATCH] Large Tornadoes Spotted In Florida Ahead Of Milton, Crosses Interstate – EVOLRead more…[VIDEOS] – Dog tied up during hurricane saved in Florida AND DeSantis wants BOOK thrown at people who did it – EVOLRead more…

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

UK To Unveil “Most Significant Package Of Employment Reforms In A Generation”

by Tyler Durden

Friday, Oct 11, 2024 – 05:45 AM

By Stefan Koopman, Senior Macro Strategist at Rabobank

New Deal? Big Deal

The UK Labour government pledged to introduce its “new deal” for workers within 100 days of being elected in July. As these first 100 days draw to a close this weekend, Labour will unveil its new Employment Rights Bill today. This bill is being touted as the most significant package of employment reforms in a generation. Key elements include increased protections against unfair dismissal, the removal of the three-day waiting period for statutory sick pay, and the banning of exploitative zero-hour contracts. It also aims to curb unreasonable ‘fire and rehire’ practices and ensure the right to flexible working. Trade unions will gain new rights for the first time in years.

This marks a significant shift towards strengthening workers’ bargaining power and tightening employment protection legislation. Such measures reduce workers’ exposure to negative shocks, which should eventually support consumption by allowing for lower saving rates. However, they also impact employers by limiting their ability to adjust the workforce flexibly in response to changes in demand, thereby raising both hiring and firing costs. The implementation of these measures will exert upward pressure on firms’ marginal costs, which, if demand in the economy is strong enough, can lead to an increase in markups and prices. This dynamic aligns with economic theory, which suggests that countries that tighten employment protection experience a steepening of their Phillips curves post-reform.

It is yet another sign that economies are making a huge departure from the old paradigm, where workers in developed countries saw their middle-class status eroded by decades of neoliberal policies. It’s also a sign markets usually miss, focusing instead on headlines that are more easily tradable. However, in terms of policy rates, it is exactly this type of reforms that separate countries where inflationary pressures could prove a bit more persistent and where not. That new deal also happens to be a big deal.

Labour hasn’t had the best of starts, but yesterday was probably their finest day since July 4. Conservative MPs have eliminated the only leadership contender that Labour had any real concerns about. James Cleverley, who had surged ahead by apologising for the party’s past mistakes and proposing a somewhat moderate Conservatism, has unexpectedly dropped out of the race. Whether through strategic blunders, underhand scheming, sheer political folly, or a mix of all three, the Tory MPs have managed to extinguish the leadership hopes of the one man who might have saved them from disaster.

Now, party members must choose between Robert Jenrick and Kemi Badenoch, both right-wingers. While this aligns with the membership’s desires, it leaves voters struggling to distinguish between the Conservatives and Farage’s Reform Party. Essentially, this will pit Reform against ‘Reform 2.0’, splitting the right-wing vote and significantly boosting Labour’s chances of another term in office. And that’s another big deal for UK assets.

Chinese stocks surged once more after the People’s Bank of China unveiled a mechanism to enable institutional investors to purchase more stocks. This move grants the Chinese government some time, as the market waits for a finance ministry press conference scheduled for Saturday. The ministry is expected to unveil the specifics of the fiscal stimulus package, under the banner of “intensifying counter-cyclical adjustment of fiscal policy.” However, should this title imply that Chinese authorities view the nation’s economic challenges as “cyclical” rather than “structural,” the market could be setting itself up for yet another letdown.

As a weakening but still tremendously powerful Hurricane Milton slammed into Florida’s west coast, the FOMC released the minutes of its September meeting. Our Fed-watcher Philip Marey concludes that Bowman was not the only FOMC participant who preferred a 25 basis point rate cut in September. Although a substantial majority supported a 50 basis point cut, some participants would have preferred a 25 basis point reduction at this meeting and a few others indicated that they could have supported such a decision.

Looking forward, several participants said that reducing policy restraint too soon or too much could risk a stalling or a reversal of the progress on inflation. In light of the strong Employment Report for September that was published well after the September FOMC decision, the opposition may feel vindicated, although the CPI report published today will also be a factor. However, during the Q&A at the NABE Conference, Powell already indicated that he does not intend to make another 50 basis point cut and that we should expect 25 in November and 25 in December. This matches our forecast.

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

CANADA

END

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

EURO VS USA DOLLAR:  1.0929 DOWN 0.0004

USA/ YEN 149.08 UP 0.372 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 1.3057 DOWN .0004

USA/CAN DOLLAR:  1.3771 UP 0.0032 (CDN DOLLAR DOWN 32 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 84.79 PTS OR 2.55%

 Hang Seng CLOSED

AUSTRALIA CLOSED DOWN .08%

 // EUROPEAN BOURSE:     MOSTLY GREEN EXCEPT LONDON

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL MOSTLY GREEN EXCEPT LONDON

2/ CHINESE BOURSES / :Hang SENG CLOSED

/SHANGHAI CLOSED DOWN 84.79 PTS OR 2.55%

AUSTRALIA BOURSE CLOSED DOWN 0.08%

(Nikkei (Japan) CLOSED UP 224.91 POINTS OR 0.57%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 2641.00

silver:$31.18

USA dollar index early FRIDAY  morning: 102.76 DOWN 1 BASIS POINTS FROM  THURSDAY’s CLOSE.

FRIDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  FRIDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.790%  UP 3 in basis point(s) yield

JAPANESE BOND YIELD: +0.951% DOWN 0 AND 9/ 10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.032 UP 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.577 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2920 UP 3 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY  

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

Euro/USA 1.0946 UP .0013 OR 13 basis points

USA/Japan: 149.14 UP 0.430 OR YEN IS DOWN 43 BASIS PTS//

Great Britain 10 YR RATE 4.2685 UP 1 BASIS POINTS //

Canadian dollar UP .0002 OR 2 BASIS pts  to 1.3744

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED UP 7.0653 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.0697)

TURKISH LIRA:  34.29 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +0.951

Your closing 10 yr US bond yield UP 1 in basis points from THURSDAY at  4.098% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.401 UP 3 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.960 DOWN 4  BASIS PTS.

GOLD AT 11;00 AM 2651.60

SILVER AT 11;00: 31.50

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

London: CLOSED UP 15.92 PTS OR 0.19%

German Dax :  CLOSED UP 162.93 OR 0.85%

Paris CAC CLOSED UP 36.30 PTS OR 0.48%

Spain IBEX CLOSED UP 63.30 OR 0.54%

Italian MIB: CLOSED UP 230.59 OR 0.68%

WTI Oil price  75,39 12 EST/

Brent Oil:  78.84 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  96.11 ROUBLE UP 0 AND  90/100      

GERMAN 10 YR BOND YIELD; +2.2920 UP 3 BASIS PTS.

UK 10 YR YIELD: 4.2690 UP 2 BASIS POINTS

CDN 10 YEAR RATE: 3.289 UP 2 BASIS PTS.

CDN 5 YEAR RATE: 3.060 UP 1

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0939 UP 0.0006 OR 6 BASIS POINTS

British Pound: 1.3072 UP 0.0011 OR 11 basis pts

BRITISH 10 YR GILT BOND YIELD:  4.236 DOWN 3BASIS PTS//

JAPAN 10 YR YIELD: 0.956

USA dollar vs Japanese Yen: 149.11 UP 0.401 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.3762 UP 0.0013 CDN dollar DOWN 13 BASIS PTS

West Texas intermediate oil: 75.41

Brent OIL:  78.72

USA 10 yr bond yield DOWN 2 BASIS pts to 4.076

USA 30 yr bond yield UP 0 BASIS PTS to 4.386%

USA 2 YR BOND: DOWN 4 PTS AT  3.945

CDN 10 YR RATE 3.238 DOWN 3 BASIS PTS

CDN 5 YEAR RATE: 3.000 DOWN 4 BASIS PTS

USA dollar index: 102.65 DOWN 1 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.29 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  95.79 UP 1 AND  20/100 roubles

GOLD  2,657.00 3:30 PM

SILVER: 31.50 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 409.87 PTS OR 0.97%

NASDAQ UP 30.21 PTS OR 0.15%

VOLATILITY INDEX: 20.36 DOWN 0.57 PTS OR 2.72%

GLD: $245.47 UP 2.65 OR 1.01%

SLV/ $28,80 UP .42 OR 1.48%

end

USA AFFAIRS

USA TRADING TODAY IN GRAPH FORM:

Bitcoin, Bullion, & ‘Biggest Shorts’ Blast Higher To End ‘Bad Data’ Week

Friday, Oct 11, 2024 – 04:00 PM

Goldilocks it wasn’t… as inflation macro data surprised to the upside and growth macro data to the downside (we love the smell of stagflation in the morning)…

Source: Bloomberg

… but that didn’t stop stocks soaring for the fifth straight week, with Small Caps exploding higher today (back into the green for the week)…

…as “most shorted” stocks saw a massive squeeze higher today…

Source: Bloomberg

Of course, a market wrap would not be complete without discussing the shitshow in Shanghai as Chinese stocks witnessed the greatest volatility since their meltdown in 2015, capping almost $500 billion of combined losses in mainland and Hong Kong markets, as investors demanded even more stimulus than authorities in Beijing have already pledged.

The CSI 300 Index’s weekly trading range – the gap between high and low prices – surged above 600 index points this week for the first time since July 2015.

Source: Bloomberg

Back then, Chinese markets witnessed an exodus of foreigners driven by mounting economic concerns and a government crackdown on traders which only exacerbated the panic.

Source: Bloomberg

This time, the turbulence is driven by sluggish consumer demand that threatens even the scaled-down growth ambitions of the country. The index’s 10-day and 20-day realized volatility also rose to a nine-year high.

Notably, the rise in macro surprise data has come as financial conditions have loosened to their ‘easiest’ since Nov 2021…

Source: Bloomberg

Today saw the 45th all-time-high of the year, but none of the prior 44 have occurred alongside this elevated a level of volatility; this will be the first week of the year where the VIX has closed above 20 every day, and so ongoing elevated risk is expected as we progress through October…

Source: Bloomberg

The vol term structure is notably upward-sloping into the election now (and the coincidental FOMC meeting)…

Source: Bloomberg

Treasury yields were very mixed today and on the week the short-end dramatically outperforming (practically unch on the week as the long-end blew out)…

Source: Bloomberg

After a huge flattening last week, the yield curve steepened by the most since the start of August this week with 2s10s dropping to inversion to start the week and steepening to erase the post-payrolls plunge by the end…

Source: Bloomberg

Rate-cut expectations rose modestly this week (with all the focus on 2025 as 2024 remains priced for less than 2 full rate cuts now)…

Source: Bloomberg

The dollar rallied for the second straight week, testing up to August’s highs before stalling a little today…

Source: Bloomberg

Despite the dollar strength, Gold extended yesterday’s rebound to end the week higher, finding support at $2600 once again…

Source: Bloomberg

Oil was flat today holding on to gains on the week (with WTI back above $75)…

Source: Bloomberg

Bitcoin exploded back higher today (from $59,000 to $63,000), to end the week solidly in the green (after testing near one-month lows)…

Source: Bloomberg

Is this the start of Bitcoin’s rip on the back of surging liquidity…

Source: Bloomberg

Finally, this weekend represents the two year anniversary from the bear market lows. The S&P is up 66% from the lows in October 2021, helped by and endless supply of liquidity from global central planners…]

Source: Bloomberg

BUT… the last week or two has seen liquidity start to contract a little (even as stocks soared to record-er highs)…

Source: Bloomberg

Will the money-printers get back to work… or will stocks sink into the election (which Trump is now leading in all the prediction markets – but not the polls)?

Source: Bloomberg

There’s no bears left…

Source: Bloomberg

…well maybe some…

way.

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

UMich Sentiment Slips In October As Inflation Expectations Rebound

Friday, Oct 11, 2024 – 10:08 AM

Medium-term inflation expectations picked up in preliminary UMich sentiment data for October, with the 5-10Y now at 2.9%…

Source: Bloomberg

This anxiety weighed on the overall sentiment survey, as it declined from 70.1 to 68.9 (well below the 71.0 expected). Both the current conditions and expectations index also fell on the month…

Source: Bloomberg

Rather oddly, while inflation expectations have softened in recent months, concerns about high prices remains extremely elevated…

Source: UMich

It seems the ‘average American’ is smart enough to understand the difference between price levels (what it actually costs you every day) and inflation (the rate of change of that cost). Of course, it’s the former that matters to main street.

end

PPI much hotter than expected and food costs surge!

(zerohedge)

Core Producer Price Inflation Hotter Than Expected; Food Costs Surge

Friday, Oct 11, 2024 – 08:39 AM

After yesterday’s hotter-than-expected CPI, all eyes are on this morning’s PPI print for dovish hopes that the blip in CPI is ‘transitory’. Of course, there is the baffle ’em with bullshit print too… as data shows the MoM prints cooler than expected but the YoY prints hotter than expected.

Headline PPI was unchanged MoM (cooler than the +0.1% expected) but it was up 1.8% YoY (hotter than the +1.6% exp)… but down from the upwardly revised 1.9%!?

Source: Bloomberg

Energy prices weighed the PPI down (that won’t last!) as Food and Services surged…

Source: Bloomberg

Final demand goods: The index for final demand goods decreased 0.2 percent in September following no change in August. The decline can be traced to a 2.7-percent drop in prices for final demand energy. In contrast, the indexes for final demand foods and for final demand goods less foods and energy increased 1.0 percent and 0.2 percent, respectively.

Product detail:

• Leading the September decline in prices for final demand goods, the index for gasoline decreased 5.6 percent.
• Prices for diesel fuel, jet fuel, chicken eggs, home heating oil, and plastic resins and materials also fell.
• Conversely, the index for processed poultry jumped 8.8 percent.
• Prices for electric power and for motor vehicles also moved higher.

Final demand services: The index for final demand services moved up 0.2 percent in September after rising 0.4 percent in August. Leading the broad-based increase in September, prices for final demand services less trade, transportation, and warehousing advanced 0.1 percent. The indexes for final demand trade services and for final demand transportation and warehousing services also rose, 0.2 percent and 0.3 percent, respectively. (Trade indexes measure changes in margins received by wholesalers and retailers.)

Product detail:

• A 3.0-percent increase in the index for deposit services (partial) was a major factor in the September advance in prices for final demand services.
• The indexes for machinery and vehicle wholesaling, furniture retailing, desktop and portable device application software publishing, apparel wholesaling, and airline passenger services also rose.
• Conversely, margins for professional and commercial equipment wholesaling fell 6.3 percent.
• The indexes for securities brokerage, dealing, investment advice, and related services and for consumer loans (partial) also moved lower.

More problematic for the doves is that core PPI jumped to +2.8% YoY (hotter than the 2.6% exp) as PPI ex-food-and-energy rose 0.2% MoM as expected…

Source: Bloomberg

On a YoY basis, Services costs are accelerating…

Source: Bloomberg

…and the deflationary drag of Energy prices won’t last…

That’s a long way from The Fed’s mandated 2%… and it’s going the wrong way!

III USA ECONOMIC NEWS

LOGANSPORT INDIANA

We have another town with a migrant crisis (Haitian influx) Logansport Indiana

(zerohedge)

First Springfield, Then Charleroi, Now Migrant Crisis Swamps This Small Indiana Town

Thursday, Oct 10, 2024 – 07:40 PM

First, Springfield, Ohio, then Charleroi, Pennsylvania, and now Logansport, Indiana—these small towns share one thing in common: Each has seen a massive influx of Haitian migrants that the Secretary of Homeland Security granted Temporary Protected Status. These migrants are dumped into towns with factories, replacing blue-collar native-born workers by the thousands in what we’ve dubbed the ‘Great Job Replacement.’ 

Local news outlet Mercer County Outlook said the small community of Logansport, located about 78 miles north of Indianapolis, had experienced a 30% population jump since 2021, or about around the time VP Kalama Harris began her new position as ‘Border Czar.’ 

Population in Logansport as of the last census is just over 18,000…according to statements made the population has increased by 30% since 2021…roughly 5,400.

The influx of migrants in the small town has strained local resources, including the school system. 

https://twitter.com/i/status/1844410231494775237

FOX59/CBS4’s Angela Ganote spoke with one Haitian migrant who said he came to Logansport because of the Tyson meatpacking plant. 

The Haitian migrant noted that immigrants make “good money” at the Tyson plant. However, it’s just not good enough for native-born workers.

Globalists at Tyson have worked with NGOs to replace their US labor workforce with migrants. This was detailed in a note earlier this year titled “How Shadowy Network Of NGOs Supplies Mega-Corporations With Migrants To Exploit Cheap Labor.” Bloomberg also covered this story in a piece titled “Tyson Is Hiring New York Immigrants for Jobs No One Else Wants.”

Back to Logansport, US Rep. Jim Banks (R-IN) commented on the migrant crisis in the small town:

In just 2 years an est. 5,000 Haitian migrants have been moved to Logansport, Indiana, a town of 18,000 people. No small community can survive that pace of change. Biden and Kamala’s CHNV program + parole abuses are wreaking havoc in heartland towns like Logansport. Congress must END it.

https://twitter.com/RepJimBanks/status/184443568202411249

Pivoting to Charleroi, journalist Christopher Rufo found out just exactly how the 2,000 Haitian migrants suddenly arrived in the small PA town. He said the answer was “an open conspiracy between the federal government, publicly funded NGOs, and private corporations.” 

We conducted an investigation to understand how 2,000 Haitian migrants suddenly arrived in Charleroi, Pennsylvania. The answer: an open conspiracy between the federal government, publicly funded NGOs, and private corporations. Here's how it works:https://t.co/497fkBJXVu

— Christopher F. Rufo ⚔️ (@realchrisrufo) October 8, 2024

This is also happening in Springfield. 

"Blow Your Mind": Ex-WSJ Journo Uncovers Hub Of An Alleged Migrant Trafficking Network In Springfield, Ohio   https://t.co/Wz1hOGy3XD

— zerohedge (@zerohedge) September 18, 2024

And Colorado. 

Union Makes Shock Claim: Colorado Meat Factory Involved In "Mgmt-Led Human Trafficking" Of Haitians https://t.co/fusclWbmax

— zerohedge (@zerohedge) September 25, 2024

And we believe nationwide. 

https://twitter.com/zerohedge/status/1836601135370551675

Great job replacement is already well underway.

h

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

— zerohedge (@zerohedge) January 15, 2024

This is not America First – this is globalist open border corporate profits first. 

END

Tough Luck For NYC Apartment Hunters: Bargains Scarce As Rents Hover Near Record Highs

Friday, Oct 11, 2024 – 06:55 AM

Tens of millions of Americans have been battered by a multi-year housing affordability crisis, mainly during the Biden-Harris administration’s first term. With high interest rates and record-high home prices, many prospective buyers have been sidelined and forced to remain in their parent’s basement or stuck in expensive rentals.

Despite a hotter September CPI print, this morning’s inflation report offered some good news: “The silver lining is that shelter inflation continues to slow.”

Yet rents are still at or near record highs in markets like Manhattan, giving apartment hunters minimal room for deals anytime soon.

Bloomberg cited new data from brokerage Douglas Elliman Real Estate and appraiser Miller Samuel showing that the median rent in the NYC borough slipped 3.4% in September to around $4.2k. Prices also fell in Brooklyn and Queens. 

Even though shelter costs in NYC are easing in some boroughs, prices are still near record highs – offering minimal deals for apartment hunters. 

Jonathan Miller, president of Miller Samuel, told Bloomberg that while rents typically trend lower in the autumn and winter, only “modest easing” is expected in the coming months, with no significant drops forecasted through the end of the year. 

Bloomberg noted, “That’s at least partly because the market remains fiercely competitive. The number of newly signed leases in Manhattan surged 40% from a year earlier, and bidding wars broke out in nearly a fifth of those deals.” 

Miller pointed out that the slight drop in rents last month was due to cheaper mortgage costs that turned some renters into buyers. However, with a recent hot jobs report and Thursday’s inflation print, the 30-year fixed-rate mortgage tracked by Bankrate has surged from 6.5% to nearly 7%. 

“Think of the direction of rents in terms of the direction of the economy. Wages and employment continue to defy expectations,” Miller noted, adding, “Symbolically, the Fed rate cuts are important to the purchase market. But if mortgage rates don’t come down, it will stall the decline in rents.”

What’s often left out from the conversation by leftist media outlets, and correctly pointed out by Sen. JD Vance at last week’s vice presidential debate is the topic of the illegal alien invasion stoked by Biden-Harris that is driving up housing costs in various markets: “[Y]ou have got housing that is totally unaffordable because we brought in millions of illegal immigrants to compete with Americans for scarce homes.”

The root cause of the affordability crisis is the housing shortage. Biden-Harris importing ten-plus million illegal aliens into the country certainly exacerbated the crisis.

END

San Francisco To Shutter 9% Of Public Schools As Budget Crisis Explodes

Friday, Oct 11, 2024 – 03:45 PM

San Francisco is gearing up to shut down 9% of its public schools in a desperate move to fix a massive budget deficit. With student enrollment plummeting and pandemic relief funds drying up, the city is set to close or merge 11 out of its 121 schools, leaving the future of thousands of students and teachers hanging in the balance.

The proposal, which was announced late Tuesday, comes as the school district faces a whopping $113 million in cuts by 2026, or risk a dreaded state takeover. “Without a balanced budget and a plan to consolidate our resources, we risk a state takeover,” warned Superintendent Matt Wayne, adding that such a takeover would “further deplete resources directed to our schools, erode our collective decision-making power, and likely compound educational disparities for our most vulnerable students.”

The schools on the chopping block serve about 2,000 kids, while another two will merge with other locations, according to local reports. And it’s not just the school closures – San Francisco’s school district has already been slashing jobs and cutting back on school supplies. Things could get worse when the final list of schools is voted on next month by the school board, Bloomberg reports.

This is the latest blow to a city grappling with skyrocketing homelessness and a fentanyl crisis. San Francisco’s public school enrollment has plunged by over 4,000 students in the last seven years – costing the district $80 million. By 2032, they’re expecting to lose another 4,600 students thanks to falling birth rates and demographic shifts.

Feeding the ‘Doom Loop’

The planned school closures are more than just a budgetary issue – they are a reflection of the larger economic “doom loop” San Francisco finds itself trapped in. As described by the San Francisco Chronicle, the city’s economic ecosystem is spiraling as the decline of core public services like schools accelerates a broader exodus of residents and businesses.

Thanks to crime, filth, and the pandemic – downtown SF has seen a sharp reduction in foot traffic as remote work has left office buildings and businesses empty. This shift has eroded the city’s tax base, leading to budget shortfalls across vital services. Now, with the closure of schools, families may be even more likely to leave the city, taking their children and spending power with them.

The doom loop is driven by a vicious cycle: diminished public services push people and businesses away, shrinking the tax revenue the city relies on to fund those very services. The closure of schools, much like the rise in homelessness and the overdose epidemic, threatens to further compound the fact that San Francisco is a city in decline, locked in a downward spiral.

As San Francisco’s public institutions falter, the question looms – how much longer can the city sustain these losses before it hits a tipping point?

Automation Could Make Or Break New US Port Strike Agreement

Friday, Oct 11, 2024 – 10:50 AM

Authored by Andrew Moran via The Epoch Times,

“No automation means no automation,” says the International Longshoremen’s Association (ILA), the union representing 85,000 dock and maritime workers.

ILA officials reached a tentative wage agreement with the United States Maritime Alliance (USMX) on Oct. 3. This move effectively suspended the three-day job action and extended the existing Master Contract until Jan. 15. The new deal allows both sides about 100 days to negotiate a new agreement, with automation being the primary sticking point.

While ILA confirmed that USMX agreed to raise pay for thousands of port workers, they are now focusing their discussions on using technology to complete tasks with less human intervention. The union is seeking to ban the automation of container-moving trucks, cranes, and gates.

Union negotiators are now seeking greater protections from the possibility of jobs being replaced by automation and semi-automation, which might be a substantial stumbling block to preventing another round of work stoppages in the new year.

“Automation will continue to be an issue that will be worked out and is being worked out in this contract,” said ILA President Harold Daggett in a statement.

“The ILA negotiated restrictions on automation and semi-automation in the last contract. The ILA just wants to tighten the language that no automation means no automation.”

State of Automation at Ports

In 1977, the last time the union went on strike, technological advancement was a top subject for officials and workers.

Port work had been a manual-intensive process in the years leading up to the labor action nearly 50 years ago. As time went by, the industry shifted to containerized shipping involving the use of cranes and other equipment. This made the container process more effective and increased volumes, said Paul Brashier, the vice president of global supply chain at ITS Logistics.

Brashier said the computerization of the supply chain—at home and abroad—has become common, such as the digitalization of customs clearance documents to enter and exit terminals.

According to a March 2024 report by the Government Accountability Office (GAO), all 10 of the biggest domestic container ports installed some type of automation technology to handle and process cargo. This has typically involved loading, unloading, or shifting heavy containers.

A provision in the old contract required the ILA’s permission for ports to install any automation. Industry experts say this resistance to accelerating automated and semi-automated processes at terminals has resulted in an inefficient and uncompetitive system.

Robert Khachatryan, founder and CEO of Freight Right Global Logistics, states that “there is a strong case for U.S. ports to adopt more automation and technology” to bolster competitiveness and efficiency.

“U.S. ports generally lag behind international counterparts in terms of efficiency. For instance, ports in Singapore, Rotterdam, and Dubai are often cited as more automated and efficient, enabling faster turnaround times for cargo,” Khachatryan told The Epoch Times.

Last year, the World Bank’s Container Port Performance Index showed that no U.S. port made the top 10. The highest rankings a U.S. port received were No. 53 (Charleston) and No. 55 (Philadelphia).

“The lack of automation at U.S. ports was a contributing cause of the supply chain crisis of 2021,” said Sean Higgins, a research fellow at the Competitive Enterprise Institute, in an analytical report. “The International Longshore and Warehouse Union (ILWU), which represents most dockworkers in California, Oregon, and Washington state, has fought any and all efforts at modernization. The union even refused to allow its members to work on any automated vessel that docked at a U.S. port.”

Automation can also affect the ILA’s Container Royalty monies, also known as touch fees. Whenever a union crane “touches” a container, the union generates sizable fees from the USMX.

“With automation, I guess that would really impact these royalties,” Bashier said.

Dockworkers and port operators reach a tentative deal on Oct. 3, 2024. Getty Images via NTD

Unions Fear Job Loss From Automation

Union leaders have erected roadblocks to automation over concerns of employment security.

In June, the ILA halted talks with the USMX and said that installing an automated gate system at a Mobile, Alabama, port violated their contract. This system can process trucks entering and leaving the port by relying on digital scans and does not require unionized labor.

ILA member Jack Pennington wrote on Facebook and was quoted in a Sept. 30 union statement that his industry—and others—does not need to embrace automation. He said automation doesn’t lower the cost of consumer goods despite the proponents’ argument that it can save consumers money.

“The cost of the standard car went up to pay for the robots … and thousands of workers were left jobless!” Pennington wrote, referring to automation in the automotive industry.

Over the last two years, there has been significant pushback against automation from a broad array of unions.

In 2023, Hollywood screenwriters went on a five-month strike to seek protections against the use of artificial intelligence in scripts.

United Auto Workers (UAW) members also hit the picket lines over perturbation about becoming obsolete amid technological innovations. Ford CEO Jim Farley stated in 2022 that the company would require 40 percent fewer workers to build electric vehicles.

Similarly, in Europe, port workers garnered contracts that included negotiated protections surrounding automation job losses. While they have been more open to technologies to make the dockworker industry more efficient, unions still combat installations threatening their workers’ livelihoods.

Are Job-Loss Fears Justified?

The data suggest that automation will temporarily displace port workers in the shipping industry.

According to a 2022 report by the Economic Roundtable, 4 percent of international container terminal capacity has been automated, including Long Beach Container Terminal (LBCT) at the Port of Long Beach and Trans Pacific Container Service Corporation (TraPac) at the Port of Los Angeles. It was estimated that automation eliminated 572 full-time jobs annually at these ports in 2020 and 2021.

Brashier noted that while automation might initially reduce jobs, it can eventually create new employment opportunities.

“The general concern is that any automation will take away jobs. But a lot of times when we see this type of automation applied in other ports, there are additional different jobs that open up as well,” Brashier stated. “So, in the near term, I could see why it would be a concern of theirs, but when you look out further, as you automate, there do become more opportunities to navigate that.”

Although workers must be considered during such a transition, “implementing advanced technologies can streamline operations and reduce congestion,” Khachatryan said.

To assist with workers’ career development in the changing industry, some other ports also offer training programs to bolster their workers’ skills.

In May 2024, the International Longshore and Warehouse Union (ILWU), representing West Coast port workers, announced a training center at the Port of Los Angeles with the Pacific Maritime Association (PMA). This facility allows ILWU members to obtain new skills by participating in programs that “re-skill” or “up-skill.”

“Additional M&R training centers will be opened to serve Northern California and the Pacific Northwest,” the announcement read. “The centers are part of an agreement between the ILWU and the PMA to establish a program to train dockworkers in new skills to maintain and repair existing and emerging technologies.”

Eric Clark, the portfolio manager at Accuvest Global Advisors, said he believes the more the unions combat technological progress, “the more this innovation and automation will be forced on them.”

“The bottom line, our ports and infrastructure are not competitive versus global peers because the unions fight innovation and automation, and we allow it to happen,” Clark said in an email to The Epoch Times. “This will eventually force change.”

James McNamara, ILA’s chief of staff and director of public relations, told The Epoch Times that the union “will not be engaging in any interviews at the present time” but confirmed that “automation will certainly be part of the ongoing negotiations.”

The Epoch Times reached out to the United States Maritime Alliance for comments

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

What an absolute fraud!

Kamala Harris Accused Of Using Teleprompter During Supposedly ‘Unscripted’ Town Hall Event

Friday, Oct 11, 2024 – 08:15 AM

Authored by Paul Joseph Watson via Modernity.news,

Kamala Harris is facing more accusations of phony behavior after she was apparently caught using a teleprompter at supposedly ‘impromptu’ Town Hall event.

The event, held in Las Vegas, featured a crowd of undecided Latino voters and was hosted and broadcast by the Spanish-language network Univision.

The very nature of a Town Hall is that candidates are supposed to perform in an impromptu environment and answer questions from voters without being fed lines, but apparently this was a bridge too far for Harris.

“Are you a Republican, are you a Democrat? The only question I ever ask is are you okay? And sadly we have seen over the last two weeks since Hurricane Helene…” said Kamala.

https://twitter.com/i/status/1844564685409992892

However, viewers watching the live broadcast saw a camera shot of a teleprompter placed in front of Harris, which was quickly switched off when it came into view.

Trump supporters accused Harris of reading the lines off a screen and suggested Univision quickly cut away from the shot to hide that fact.

“Kamala has a teleprompter for this “unscripted” town hall….They forgot to hide it by turning it off until it comes into plain view,” remarked Tim Young.

Kamala has a teleprompter for this "unscripted" town hall….

They forgot to hide it by turning it off until it comes into plain view. pic.twitter.com/5cRYhc2IFH

— Tim Young (@TimRunsHisMouth) October 11, 2024

“How in the hell do you use a teleprompter at a Town Hall?” asked Anita Broaddrick. “A Town Hall is suppose to be Impromptu. Kamala is the biggest Fraud to ever run for office. It’s absolutely laughable.”

How in the hell do you use a teleprompter at a Town Hall? A Town Hall is suppose to be Impromptu.

Kamala is the biggest Fraud to ever run for office. It’s absolutely laughable. pic.twitter.com/6dTyNwpAKd

— Juanita Broaddrick (@atensnut) October 11, 2024

“BUSTED!!” proclaimed Charlie Kirk. “Kamala was just caught using a teleprompter at her Univision town hall! Producers panic and turn off the prompter midway through her answer. Why did Univision allow this?! This is egregious journalistic malpractice.”

BUSTED!!

Kamala was just caught using a teleprompter at her Univision town hall! Producers panic and turn off the prompter midway through her answer.

Why did Univision allow this?! This is egregious journalistic malpractice. pic.twitter.com/tH5Bh2clBx

— Charlie Kirk (@charliekirk11) October 11, 2024

“Univision accidentally broadcast proof that Kamala used a teleprompter at her town hall,” commented Benny Johnson. Watch them panic when they realized they were showing the prompter live on-air.”

🚨 BREAKING: Univision accidentally broadcast proof that Kamala used a teleprompter at her town hall

Watch them panic when they realized they were showing the prompter live on-air pic.twitter.com/fiUFcfN2Kx

— Benny Johnson (@bennyjohnson) October 11, 2024

Meanwhile, Harris was also accused of putting on another fake accent, mimicking her bizarre behavior during her appearance on Stephen Colbert’s show.

HOLY SMOKES Kamala pulls out a hispanic accent at a Univision Latino town hall:

"I hope your family is okayyy and your home is okayyyy" pic.twitter.com/x4VhbK0GuZ

— johnny maga (@_johnnymaga) October 11, 2024

Is it any wonder that Americans are increasingly seeing her as disconnected, fake and just downright weird?

*  *  *

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KING REPORT

The King Report October 11, 2024 Issue 7346

Independent View of the News

US September CPI, Core CPI, and Supercore (Core – shelter) were 0.1 worse than expected, m/m & y/y.   CPI 0.2% m/m & 2.4% y/y, 0.1% m/m & 2.3% y/y consensus. 0.2% m/m & 2.5% y/y prior Core CPI 0.3% m/m & 3.3% y/y, 0.2% m/m & 3.2% expected; 0.3% m/m & 3.2% y/y prior Supercore 0.4% m/m & 4.6% y/y – Pundits used to claim this was PE Powell’s favored CPI metric. (Full report at link) https://www.bls.gov/news.release/pdf/cpi.pdf   Five of the six major food components inflated, with eggs +8.4%.   Chicago Fed President and Obama Stooge Austan Goolsbee shrugged off the September CPI Report and regurgitated a Democrat talking point: “…Inflation has come down a lot.”  The Fed is overtly political, and each time it claims otherwise, it lies.   Initial Jobless Claims are 258k on Helene; 230k expected.   Richmond Fed President Barkin dismissed the CPI Report by averring ‘inflation is headed in the right direction.’  Barkin said lower rates could boost housing demand.  NY Fed President Williams also downplayed the CPI Report because his constituency lives of Fed largesse.  Atlanta Fed President Bostic said he is open to skipping a rate cut in November.   @KobeissiLetter: While September CPI inflation is at 2.4%, inflation is much higher in many basic necessities: 1. Car Insurance Inflation: 16.3%; 2. Transportation Inflation: 8.5%; 3. Homeowner Inflation: 4.9%; 4. Car Repair Inflation: 4.9%; 5. Rent Inflation: 4.8%; 6. Hospital Services Inflation: 4.5%; 7. Food Away from Home Inflation: 3.9%; 8. Electricity Inflation: 3.7% Core CPI inflation is now at 3.3% and rising for the first time in 18 months. https://x.com/KobeissiLetter/status/1844385272504648031   @charliebilello: The most absurd number in CPI? According to the US Government, the cost of health insurance has declined 33% over the last 2 years and 11% over the last 5 years… https://t.co/rQuXrxVXM0   Three-quarters of Americans struggling with bills because of inflation The report from LendingTree highlights that 76% of Americans report inflation and the current economy making it harder for them to afford paying their bills this last year.  On top of that, 45% of those struggling said they have had to pay a bill late in the last 12 months…  Another 48% said they’ve paid three or more bills late in the last year… The report also found that 50% of Americans have suffered an overdraft on their account while paying a bill…   https://www.msn.com/en-us/money/markets/three-quarters-of-americans-struggling-with-bills-because-of-inflation/ar-AA1rUmJs?ocid=BingNewsVerp   Ukraine ready for ceasefire with Russia on certain fronts: Bild (Zelensky saw recent DJT polls) President Vladimir Putin stated that “Russia is in favor of a complete and final end of the conflict” with no additional conditions enabling Ukraine to “recover losses, regroup, and rearm.”…      The key points of the plan include a “demand to be allowed to deploy Western long-range weapons deep inside Russia, as well as Ukraine’s readiness to accept local ceasefires along certain portions of the front, and thus a provisional freezing of the situation,” according to the German newspaper… https://english.almayadeen.net/news/politics/ukraine-ready-for-ceasefire-with-russia-on-certain-fronts–b   @joma_gc: A Harris campaign staffer reveals to Axios that their Sunbelt internal polling is so bad they’re recognizing the only viable path for Harris is winning both MI and PA; two states where she’s under water with key demographics. The staffer noted that a sense of impending doom hangs heavily over the campaign in its final weeks, with a Trump return now feeling inevitable. The joy is gone.   Dem pollster Mark Halperin: “I just saw some new private polling that’s very robust. Private polling… Kamala Harris “is in a lot of trouble…In the conversations I’m having with Trump people & Democrats with data, they are extremely bullish on Trump’s chances in the last 48 hours. Extremely bullish.” https://x.com/2waytvapp/status/1843883126881161636   @Polymarket: Trump just set another all-time high in his odds against Harris. There’s now a 54.4% chance he wins. (Near the NYSE close it was 56.5%)  https://x.com/wabisab0/status/1844427564305256883/photo/1   ESZs traded mostly negative during Asian trading and declined further after the 12 ET Nikkei close.  ESZs hit a low near 3:30 ET and traded sideways until a rally into the 8:30 ET CPI Report release occurred.  After a quick spike higher two minutes before the release, ESZs tumbled from the daily high of 5844.00 at 8:28 ET to 5814.75 at 8:38 ET.   Conditioned dip buying (and probably DJT polling) pushed ESZs to 5843.25 at 12:15 ET.  ESZs then methodically sank to a new daily low of 5811.50 at 14:42 ET.  After a moderate bounce, ESZs went inert until the last-hour rally took ESZs to 5833.00 at 15:52 ET.  ESZs fall to 5826.75 at 16:10 ET.   @RealEJAntoni: The monthly Treasury statement for Sep (end of FY) is late, like it was last year, as the gov’t bean counters try to figure out how to whittle down a FY deficit of $2.3 trillion to “just” $1.8 trillion – give them a week or two… https://t.co/F2BknflcMs   Positive aspects of previous session US stocks and bonds did NOT get hammered because Q3 earnings season has begun! Fangs rallied sharply because traders pour into them ahead of their results.   Negative aspects of previous session USZs were -9/32 at the NYSE close. Industrial and energy commodities soared; precious metals rallied sharply Fed presidents looked idiotic and political with their comments on CPI   Ambiguous aspects of previous session Is the market forecasting a Trump win?   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]: 5779.95 Previous session S&P 500 Index High/Low: 57965.03; 5764.76   Trump in Detroit, Michigan: “I am announcing that as part of our tax cuts, we will make interest on car loans fully deductible.”  https://x.com/TrumpWarRoom/status/1844457462751166916      “Upon taking office, I will formally notify Mexico and Canada of my intention to invoke the 6-year-renegotiation provision of the USMCA… And I will seek strong new protections against trans-shipment, so that China and other countries cannot smuggle their products and auto-parts into the United States tax free through Mexico…” https://x.com/TrumpWarRoom/status/1844451370012901404   @EricLDaugh: 2024 NATIONAL POLL – Pew Research Center: Harris: 48% (+1), Trump: 47% Final 2020: Biden+10; Final 2016: Clinton+7; Sept. 30-Oct. 6 | N=4,025 RV (Registered voters) (Taken before Harris’ polling plunge due to hurricane actions and horrible media blitz) @mirandadevine: Honestly, Kamala Harris’ feeble attempts to inject herself into hurricane news by pretending to sound presidential… just emphasized how unsuited she is to any sort of leadership role.   @Peoples_Pundit: Final Pew Research Poll is very bad news for Kamala Harris, especially given how badly they’ve understated Trump’s support in the past…     I’ve learned to listen when the culinary union speaks up in Nevada. When polling showed Republican nominees for U.S. Senate up and they said the polls were wrong, they were wrong. They’re now telling POLITICO Kamala Harris would lose Nevada if today was Election Day.   Harris has agreed to do a townhall in Philadelphia with CNN on October 23, a sign of desperation.   Many of these polls continue to oversample Dems or Dem-friendly groups!  The polling shocker is that blacks and Hispanics, particularly men, are fleeing Harris and Dems.  Obama was in Pittsburg yesterday.   Politico: Democrats are deploying prominent Black surrogates to Michigan to deliver an urgent plea: Black men, we need.  https://www.politico.com/news/2024/10/10/kamala-harris-detroit-voters-turnout-michigan-00183107   @RealSKeshel: Why is Trump talking about NEW MEXICO? Change in Voter Registration by Party since 2020: 32 of 33 counties shift Republican, with Dem Registration advantage cut by 29,599, D+13.9% to D+11.7%. Minority-majority state with large Latino working class and Native population moving rapidly away from Democrat identification.  Bernalillo, Santa Fe, Dona Ana – Democrat Big 3 counties – have all shifted Republican.      National bellwethers disrupted in the 2020 election, Valencia and Hidalgo Counties, appear to be on lock for Trump, with Valencia flipping red outright… https://x.com/RealSKeshel/status/1844420385107796237   @EricLDaugh: Trump says he’s making a play for states like Virginia, Minnesota, and New Mexico. Clearly, his campaign believes the map is expanded. Reminiscent of post-debate Biden.   @DanODonnellShow: Kamala Harris’ campaign is drastically reducing its radio advertising in Milwaukee and making a “significant” buy on two hip hop/R&B stations in Philadelphia, signaling possible concern over black turnout in Pennsylvania.   @sentdefender: A reporter asked President Joe Biden if he had discussed Israel’s retaliation against Iran during his call recently with Prime Minister Netanyahu… he responded, “He’s coming over to help with the storm.” (He’s that bad, folks!) https://x.com/sentdefender/status/1844454081231978562   @RNCResearch: Biden tells “Mr. President Trump” to “get a life, man” and “help these people” — then shuffles away in deranged anger. REMINDER: President Trump was on the ground meeting with and delivering aid to hurricane victims before Kamala OR Biden had done anything. https://t.co/j4x4dbm6ne   Biden says hurricane relief workers ‘received death penalties’ in latest embarrassing gaffe https://trib.al/ZcX4kGq   Global Money Supply Skyrocketing   https://x.com/dlacalle_IA/status/1844425226605691317   Fed Balance Sheet: -$0.85B; Reserves at Fed: +$98.609B   Today – Stocks and bonds largely shrugged off the bad CPI Report.  Perhaps the tsunami of reports showing that Trump is surging, and Harris’s prospects look bleak put a bid under stocks and bonds.  If September PPI is not atrocious, traders will eagerly play for the Friday and earnings season rallies.  Buying for Q3 results was probably the main reason that stocks didn’t tank on Thursday.   Expected impact earnings: BK 1.42, WFC 1.28, FAST .52, JPM 4.01, BLK 10.40,   ESZs are +7.75; NQZs are +27.50; and USZs are +10/32 at 20:10 ET.   Expected econ data and events: Sept PPI 0.1% m/m & 1.6% y/y, Core 0.2% m/m & 2.6% y/y; Oct UM Sentiment 71, Current Conditions 64.3, Expectations 74.9, 1-year Inflation 2.7%, 5-10-year Inflation 3%; Chicago Fed Pres Goolsbee 9:45 ET, Dallas Fed Pres Logan 10:45 ET, Fed Gov. Bowman 13:10 ET   S&P Index 50-day MA: 5577; 100-day MA: 5512; 150-day MA: 5393; 200-day MA: 5274 DJIA 50-day MA: 41,087; 100-day MA: 40,270; 150-day MA: 39,794; 200-day MA: 39,406 (Green is positive slope; Red is negative slope)   S&P 500 Index (5780..05close) – 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 5685.76 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5760.17 triggers a sell signal   @realDonaldTrump: A giant Fake News Scam by CBS & 60 Minutes. Her REAL ANSWER WAS CRAZY, OR DUMB, so they actually REPLACED it with another answer in order to save her or, at least, make her look better. A FAKE NEWS SCAM, which is totally illegal. TAKE AWAY THE CBS LICENSE. Election Interference. She is a Moron, and the Fake News Media wants to hide that fact. An UNPRECEDENTED SCANDAL!!!…     60 Minutes is a major part of the News Organization of CBS, which has just created the Greatest Fraud in Broadcast History. CBS should lose its license, and it should be bid out to the Highest Bidder, as should all other Broadcast Licenses, because they are just as corrupt as CBS — and maybe WORSE!   @HansMahn>https://t.co/EQmPTFHXM   NYT: Republicans Appear Poised to Take Control of Senate, New Poll Shows   Axios’ @stephen_neukam: I asked every vulnerable Senate Democratic campaign — Brown, Tester, Rosen, Casey, Baldwin — if they agree with Walz on getting rid of Electoral College.  I didn’t get a single answer.  (A huge shock: GOP candidate Larry Hogan is tied for the Maryland US Senate seat!) Forbidding Michigan Governor Whitmer is under fire for a sacrilegious mocking of Holy Communion.  In a TikTok video she gives a Dorito chip, because last week Kamala said it was her favorite snack, to a leftist Canadian podcaster in a blasphemous allegory of Holy Communion.  The recipient then acts sensual.  Pennsylvania, Michigan, and WI Catholics, and there are a lot of them, will not be pleased.  Why do this?  There is zero upside, but a lot of downside for doing this!   @TimMurtaugh: Let’s be clear what’s happening in this video.  Gov. Whitmer of Michigan is pretending to give communion to an leftist podcaster on her knees, using a Dorito as the Eucharist while wearing a Harris-Walz hat. Do they want ZERO Catholic votes for Harris? https://x.com/TimMurtaugh/status/1844449775992893861   Tim Walz’s daffy child-like wife Gwen did her cringeworthy ‘turning the page’ shtick in Beloit, Wisconsin. https://x.com/DrewHLive/status/1844413406088224940   Gwen also upset Marines and others by injecting sappy campaign lyrics into the “Halls of Montezuma.” https://x.com/DrewHLive/status/1844426735858942231   @TrumpWarRoom: Tim Walz claims, “voters focusing on immigration helps” their campaign because President Trump — who oversaw the most secure border in history — “wasn’t doing anything about it.” He claims Kamala is “leaning into it” after she let 20+ million illegals invade the country. https://t.co/tviBODBOS5   Emhoff, Tim Walz Walk Away from Cafe Counter Without Paying: ‘Someone Will Be Up Here to Pay’   https://www.breitbart.com/politics/2024/10/09/emhoff-tim-walz-walk-away-from-cafe-counter-without-paying-someone-will-be-up-here-to-pay/   Trump slams ‘BETA MALE’ Howard Stern over ‘SOFTBALL’ Kamala Harris interview: ‘Made a fool of himself’ https://trib.al/dixkMUI   @kylenabecker: Donald Trump wins the Quote of the Year: “Our biggest threat to democracy is stupid people.” https://t.co/LxPFVhdRWd   @MelissaTweets: It will never not amuse me that the diehard Never Trumpers staked their reputations on Joe Biden and Kamala Harris, two of the dumbest public servants in the history of our Republic.   @lsferguson: Have you noticed the leaks have stopped now that Corey Lewandowski is working in the Trump campaign and Kellyanne Conway has been separated from it?  No more replace JD Vance whispers from the campaign.  No more talk of shortened rallies.  No more talk of Trump being nicer…   Joe Biden signed off on aggressive Hunter Biden legal strategy as GOP probed role in family biz: ‘Keep doing it’ https://t.co/Ky0ohKFGkf   DOJ Blames FBI Informant for Deleting Jan. 6 Evidence https://t.co/Oh0OMCmjwE   Afghan refugee charged with plotting US election day massacre worked for CIA: report (A CIA asset!  What other murderous CIA assets are lurking in the USA?) https://trib.al/W8Oqm2P   @JennPellegrino: Sec. Mayorkas dismisses reporter, multiple times, after she inquires about election day terror plot. Mayorkas says his focus is NC and won’t address the plot right now. The same Mayorkas whose priority was luxury shopping in Georgetown over the weekend. https://x.com/townhallcom/status/1844431899172929642   Hamas caught on video stealing dozens of humanitarian aid trucks entering Gaza Strip https://t.co/Tf6Oz8pAn4   @TrumpWarRoom: TRUMP AT THE DETROIT ECONOMIC CLUB: For generations, this city and state were the World Capital of Automotive Production. American Automakers rolled one iconic model off the line after the next—the Mustang, the Corvette, the Pontiac GTO (Our favorite car as a tween)… https://x.com/TrumpWarRoom/status/1844437362794811405   Yom Kippur is Saturday.  We’d guess that Israel won’t do anything ‘big’ until next week.

GREG HUNTER

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