GOLD PRICE CLOSED UP $22.30 TO $2714.80

SILVER PRICE UP $1.46 TO $33.05

Gold ACCESS CLOSED $2720.40

Silver ACCESS CLOSED: $33.68

Bitcoin morning price:$67843 UP 938 DOLLARS.

Bitcoin: afternoon price: $68726 UP 1821 DOLLARS

Platinum price closing UP $18.45 TO $1014.30

Palladium price; UP 38.80 TO $1080.60

END

*CANADIAN GOLD: $3756.63 UP 40.55 CDN dollars per oz( * NEW ALL TIME HIGH 3,756.63 CDN DOLLARS PER OZ//OCT 18 2024)

*BRITISH GOLD: 2083,35 UP 15.62 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2083.35 BRITISH POUNDS/OZ) OCT 18/2024

*EURO GOLD: 2,503,40 UP 15.90 Euros per oz //* (ALL TIME CLOSING HIGH: 2.503.40 EUROS PER OZ//OCT 18 //.2024)

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END

EXCHANGE

EXCHANGE: COMEX
CONTRACT: OCTOBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,691.000000000 USD
INTENT DATE: 10/17/2024 DELIVERY DATE: 10/21/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

152 C DORMAN TRADING 7
523 C INTERACTIVE BRO 1
657 C MORGAN STANLEY 1
661 C JP MORGAN 1
726 C PLUS500US FINAN 1
737 C ADVANTAGE 1 1
905 C ADM 1
991 H CME 4

---

TOTAL: 9 9
MONTH TO DATE: 12,474

---

JPMorgan stopped 1/9

GOLD: NUMBER OF NOTICES FILED FOR OCT/2024. CONTRACT: 9 NOTICES FOR 900 OZ  or  0.02799 TONNES

total notices so far: 12,474 contracts for 1,247,400 Oz (38.799 tonnes)

FOR  OCT

SILVER NOTICES:8 NOTICE(S) FILED FOR 40,000 OZ/

total number of notices filed so far this month : 1321 for 6.605 million oz

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GLD/

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

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

WITH GOLD UP $22.30 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD: NO CHANGES IN GOLD INVENTORY AT THE GLD:

/ /INVENTORY RESTS AT 884.59 TONNES

INVENTORY RESTS AT 884.59 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $1.46 AT THE SLV

NO CHANGES IN SILVER INVENTORY INTO THE SLV:

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 473.483 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A STRONG SIZED 721 CONTRACTS TO 141,580 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS STRONG LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR SMALL LOSS OF $0.18 IN SILVER PRICING AT THE COMEX ON THURSDAY’S TRADING. WE HAD A SMALL GAIN OF 74 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE THE LOSS OF 18 CENTS  IN PRICE. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS ON THURSDAY TRYING TO CONTAIN SILVER’S PRICE.. //. WE HAD ZERO SHORT COVERING BY OUR SPECS DURING THE COMEX TIME ZONE..  WE HAD A HUGE 795 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A SMALL 133 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING. IN ESSENCE WE GAINED A HUGE 1373 CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN 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 SMALL 133 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 FELL BY 18 CENTS AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A SMALL GAIN OF 74 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES

WE HAD A HUGE 795 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 40,000 OZ QUEUE JUMP+ .195 MILLION OZ ISSUANCE OF EXCHANGE FOR RISK PRIOR//NEW TOTAL 6.810 MILLION OZ

//NEW STANDING FOR SILVER//OCT AT 6.810 MILLION OZ

WE HAD:

/ STRONG SIZED COMEX OI LOSS//HUGE SIZED EFP ISSUANCE/ VI)  SMALL SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 133 CONTRACTS)/PLUS THAT STUPID ISSUANCE OF .195 MILLION OZ OF EXCHANGE FOR RISK YESTERDAY

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED A HUMONGOUS 171 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 13 DAYS, total 8131 contracts:   OR 40.655 MILLION OZ  (625 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  40.655 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; 40.655 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH)

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 721  CONTRACTS WITH OUR $0.18 LOSS IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS: 795 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 40,000 OZ TO WHICH WE ADD .195 MILLION OZ OF EXCHANGE FOR RISK ISSUANCE/PRIOR

//NEW TOTAL STANDING FOR OCT AT 6.810 MILLION OZ 

WE HAVE A SMALL GAIN OF 74 OI CONTRACTS ON THE TWO EXCHANGES DESPITE OUR LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A SMALL SIZED 133 CONTRACTS (USED FOR TODAY’S TRADING),//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION, TRYING TO CONTAIN SILVER’S PRICE RISE.

/ ZERO SHORT COVERING FROM OUR SPEC SHORTS DESPITE THE LOSS 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   (133) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND LATELY ON A DAILY BASIS INCLUDING TODAY.

WE HAD 8 NOTICE(S) FILED TODAY FOR 40,000 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 VERY STRONG SIZED 10,337 OI CONTRACTS  TO 559,437 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED A HUGE 1679 CONTRACTS//

WE HAD A VERY STRONG SIZED INCREASE  IN COMEX OI (10,337 CONTRACTS) OCCURRED WITH OUR GAIN OF $17.30 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 200 OZ QUEUE JUMP

NEW STANDING ADVANCES TO  39.004 TONNES+ + 20.917 TONNES EXCHANGE FOR RISK/PRIOR// = 59.921 TONNES

/ ALL OF THIS HAPPENED WITH OUR $17.30 GAIN IN PRICE  WITH RESPECT TO THURSDAY’S COMEX TRADING///. WE HAD A HUGE SIZED GAIN OF 15,345 OI CONTRACTS (47.73 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, AND TROUGHOUT THIS WEEK WITH MAJOR TENDERING FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE! YOU CAN VISUALIZE THIS WITH THE DAILY QUEUE JUMPING WE ARE WITNESSING.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 5008 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 559,437

IN ESSENCE WE HAVE A HUGE SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 15,345 CONTRACTS  WITH 10,337 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 5008 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 15,345 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALL SIZED 547 CONTRACTS, WE HAD ZERO LIQUIDATION OF T.A.S CONTRACTS WITH OUR GAIN IN PRICE THURSDAY.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5008 CONTRACTS) ACCOMPANYING THE HUGE SIZED INCREASE IN COMEX OI OF 12,016 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 15,345 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 200 OZ QUEUE JUMP + 20.9188 ISSUANCE OF EXCHANGE FOR RISK/PRIOR.

//NEW STANDING ADVANCES TO TO: /OCT 39.004 TONNES.  + 20.917 EX, FOR RISK/PRIOR = 59.921 TONNES

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

  4)  VERY STRONG SIZED COMEX OPEN INTEREST INCREASE 5)  HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///SMALL T.A.S.  ISSUANCE: 133 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: 46,014 CONTRACTS OF 4,601,400 OZ OR 143.122 TONNES IN 13 TRADING DAY(S) AND THUS AVERAGING: 3539 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 13 TRADING DAY(S) IN  TONNES  143.122 TONNES

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

THUS EFP TRANSFERS REPRESENTS  143.122 DIVIDED BY 3550 x 100% TONNES = 4.03% 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. 143.122 TONNES (THIS WILL BE A WEAKER ISSUANCE THIS MONTH)

SPREADING OPERATIONS

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

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

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

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

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

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

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

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A STRONG SIZED 721 CONTRACTS OI  TO 141,580 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 795 CONTRACTS

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

DEC 795 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 795 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI LOSS OF 721   CONTRACTS AND ADD TO THE 970 E.FP. ISSUED

WE OBTAIN A SMALL SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 74 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 1.225 MILLION OZ OCCURRED DESPITE OUR  $0.18 LOSS  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 UP 92.18 PTS OR 2.91%

//Hang Seng CLOSED UP 725.01 PTS OR 3.61%

// Nikkei CLOSED UP 70.56 PTS OR 0.18%//Australia’s all ordinaries CLOSED DOWN 0.85%///Chinese yuan (ONSHORE) CLOSED UP TO 7.1078 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1207// Oil UP TO 70.58 dollars per barrel for WTI and BRENT UP AT 74.33 Stocks in Europe OPENED MOSTLY MIXED

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 10,337 CONTRACTS TO 559,437 WITH OUR STRONG  GAIN IN PRICE OF $17.30 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 HUGE NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (5008). AND THINGS MUST BE DESPERATE AS FIRSTLY 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! WELL,YESTERDAY WE RECEIVED NOTICE OF A SECOND ISSUANCE OF EXCHANGE FOR RISK, AT 239 NOTICES OR 23,900 OZ (.7433 TONNES). LAST NIGHT ZERO EXCHANE FOR RISK WAS ISSUED. THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THIS MONTH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY THIS ENTIRE WEEK

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 PHYSICAL ANCIENT METAL OF KINGS AND THEIR FAILURE TO STOP CENTRAL BANK PURCHASES OF PHYSICAL GOLD IS THE MAJOR ISSUE OF THE DAY! THIS WEEK HAS BEEN A STELLAR WEEK FOR GOLD PRICE INCREASES.

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 THROUGHOUT LAST WEEK’S GAIN IN PRICE BUT AGAIN WITH THIS WEEKS TRADING, WITH 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 BOLTING AHEAD OF ORDINARY LONGS AS THEIR NEED FOR PHYSICAL IS GREAT AS THEY SCOUR THE PLANET LOOKING FOR GOLD

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 5008 EFP CONTRACTS WERE ISSUED: :  /DEC  5008 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5008 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 HUGE SIZED TOTAL OF 15,345 CONTRACTS IN THAT 5008 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A VERY STRONG GAIN OF 10,337 COMEX  CONTRACTS..AND THIS HUGE GAIN  ON OUR TWO EXCHANGES HAPPENED WITH OUR STRONG ADVANCE IN PRICE OF $17;30 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 SMALL SIZED 547 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 (59.921 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 39.004 TONNES + + 20.917 TONNES EXCHANGE FOR RISK PRIOR =59.9153 TONNES

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $17.30/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A HUGE SIZED GAIN IN OUR TWO EXCHANGES. WE DID HAVE CONSIDERABLE T.A.S. SPREADER LIQUIDATION THURSDAY BUT TO NO AVAIL.IN STOPPING GOLD’S ADVANCE. CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL THURSDAY EVENING.

WE HAVE GAINED A TOTAL OF 47.73 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR OCT (33.651TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 200 OZ QUEUE JUMP PLUS + 20.917 TONNES OF EXCHANGE FOR RISK//PRIOR

//NEW STANDING FOR OCT 39.004 TONNES.+ + 20.917 TONNES (EXCHANGE FOR RISK

NEW STANDING FOR OCT 39.004 TONNES  + 20.917 TONNES EXCHANGE FOR RISK/PRIOR= 59.921 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR STRONG  GAIN IN PRICE  TO THE TUNE OF $17.30

WE HAD 1679 CONTRACTS REMOVED  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 15,345 CONTRACTS OR 1,534,500 OZ (47.73 TONNES)

confirmed volume THURSDAY 199,224 contracts fair

//speculators have left the gold arena

END

OCT 18  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	32.15 oz one kilobar Brinks
No of oz served (contracts) today	9 notice(s) 900 OZ 0.0279 TONNES
No of oz to be served (notices)	66 contracts    6600 OZ 0.2052 TONNES
Total monthly oz gold served (contracts) so far this month	12,474 notices 1,247,400oz 38.799 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month	x

dealer deposits:0

total dealer deposits:  nil oz

we have 0 customer deposits

total deposits nil oz 

withdrawals: 0

TOTAL WITHDRAWALS: nil oz

adjustments: 2

a) dealer to customer Manfra: 3279.402 oz

b) dealer to customer Delaware 964.530 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.

For the front month of OCT: we have an oi of 75 contracts having LOST 3 contracts

We had 5 contracts filed on THURSDAY so we GAINED 2 contracts on our two exchanges or 2 CONTRACTS underwent a 200 oz queue jump. This is central bank action grabbing all the physical they can.

NOVEMBER LOST 39 CONTRACTS TO STAND AT 1446

DECEMBER, THE BIGGEST DELIVERY MONTH GAINED 7706 CONTRACTS TO 448,899

We had 9 contracts filed for today representing 900 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 9 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 1 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 (12,474 x 100 oz ) to which we add the difference between the open interest for the front month of  OCT(75 CONTRACTS)  minus the number of notices served upon today  (9 x 100 oz per contract( equals  1,254,000 OZ  OR 39.004 TONNES. TO WHICH WE ADD THAT STUPID 20.917 TONNES OF EXCHANGE FOR RISK PRIOR, NEW TOTAL = 59.921 TONNES

thus the INITIAL standings for gold for the OCTOBER contract month:  No of notices filed so far (12,474 x 100 oz +we add the difference for front month of OCT  (XXX OI} minus the number of notices served upon today (9 x 100 oz which equals  1,254,000 oz (39.004 TONNES)  + 20.917 EX. FOR RISK DELIVERY /PRIOR = 59.921 TONNES

TOTAL COMEX GOLD STANDING FOR OCT.: 59.921 TONNES WHICH IS HUGE FOR THIS  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:  16,992,849.225 OZ  

TOTAL REGISTERED GOLD 7,821,020/158/// 243,42tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,170,922,077OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,125,882 oz (REG GOLD- PLEDGED GOLD)= 190.54 tonnes //

END

SILVER/COMEX

OCT 18 2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	994.13 oz Delaware .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	1,202,533.470 oz CNT HSBC
No of oz served today (contracts)	8 CONTRACT(S)    (40,000 OZ)
No of oz to be served (notices)	2 contracts  (10,000oz)
Total monthly oz silver served (contracts)	1321Contracts  (6.605 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit/

total dealer deposit : NIL oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  1 customer deposits

i) Into ASAHI: 593,065.900 oz

total customer deposits 593,065.900 oz

We had 1 withdrawals

i) out of Delaware 994.13 oz

total withdrawal 994.13 oz

JPMorgan has a total silver weight: 134.996million oz/306.501million  or 44.11%

adjustment 0

TOTAL REGISTERED SILVER: 69.137MILLION OZ//.TOTAL REG + ELIGIBLE. 306.501million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR OCT

silver open interest data:

FRONT MONTH OF OCT /2024 OI: 10 OPEN INTEREST FOR A LOSS OF 2 CONTRACTS

WE HAD 10 CONTRACTS SERVED ON THURSDAY SO WE GAINED 8 CONTRACTS OR WE ENTERTAINED A 40,000 OZ QUEUE JUMP

NOVEMBER SAW A GAIN OF 16 CONTRACTS TO STAND AT 790

DECEMBER SAW A LOSS OF 681 CONTRACTS UP TO 115,993 CONTRACTS

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 8 for 40,000 oz

CONFIRMED volume; ON THURSDAY 65,805 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 1321x 5,000 oz = 6.605 MILLION oz 

to which we add the difference between the open interest for the front month of OCT (10) and the number of notices served upon today (8)x (5000 oz) to which we add 195,000 oz of exchange for risk/PRIOR equals the number of ounces standing.

Thus the  standings for silver for the OCT2024 contract month:  1321 Notices served so far) x 5000 oz + OI for the front month of OCT(10) number of notices served upon today minus (8)x 5000 oz of silver standing for the OCT contract month + .195 million oz ex. for risk/PRIOR equates to 6.810 MILLION OZ. 

 New total standing: 6.810 million oz.

the comex must be now chaotic as we received notice of exchange for risk for both gold and silver.

There are 69.742 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 18 WITH GOLD UP $22.30 ON THE DAY; NO CHANGES IN GOLD AT THE GLD // // . // .///INVENTORY RESTS AT 884.59 TONNES

OCT 17 WITH GOLD UP $17.30 ON THE DAY; NO CHANGES IN GOLD AT THE GLD // // . // .///INVENTORY RESTS AT 884.59 TONNES

OCT 16 WITH GOLD UP $13.60 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD //A MONSTER DEPOSIT OF 4.02 TONNES OF GOLD INTO THE GLD.; // . // .///INVENTORY RESTS AT 884.59 TONNES

OCT 15 WITH GOLD UP $2.85 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD //A MONSTER DEPOSIT OF 4.31 TONNES OF GOLD INTO THE GLD.; // . // .///INVENTORY RESTS AT 880.57 TONNES

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: 884.59 TONNES, TONIGHTS TOTAL

SILVER

OCT 18  WITH SILVER $1.46 : NO CHANGES IN SILVER INVENTORY AT THE SLV//// //INVENTORY AT SLV RESTS AT 473.483 MILLION OZ

OCT 17  WITH SILVER DOWN 18 CENTS : HUGE CHANGES IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 3.419 MILLION OZ INTO THE SLV// //INVENTORY AT SLV RESTS AT 473.483 MILLION OZ

OCT 16  WITH SILVER UP 25 CENTS : NO CHANGES IN SILVER INVENTORY AT THE SLV// //INVENTORY AT SLV RESTS AT 470.064 MILLION OZ

OCT 15  WITH SILVER DOWN 2 CENTS : SMALL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 456,,000 OZ FORM THE SLV. //INVENTORY AT SLV RESTS AT 470.064 MILLION OZ

OCT 11  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 473.483 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

Peter Schiff: 2% Inflation Is Fantasy Land

Friday, Oct 18, 2024 – 09:32 AM

Via SchiffGold.com,

Last week, Peter appeared on Soar Financially, where he was interviewed by host Kai Hoffmann. The two dive into gold’s upward trajectory and its historical precedents, the market’s misguided optimism when it comes to the American economy, and recent events in domestic politics and international banking.

Peter starts with his perennial reminder: public sector jobs do not boost the economy, and recent jobs numbers are intended to support a false narrative.

“Government jobs are not a sign of a strong economy. In fact, they weaken an economy because we have to pay for those jobs. They’re non-productive jobs. They result in bigger deficits, higher inflation. That’s really all we have– we have inflation that masquerades as growth.”

One factor distinguishing today’s economy from the past is that no monetary policymakers intend to hike rates in the long-term:

“Gold is on pace to have its biggest gains since 1979. And it’s not a coincidence that gold is moving this much, especially when the Fed is starting to cut rates and just beginning this new easing cycle. In 1979, the Fed was still tightening. In fact, in 1980, that’s when the Fed got rates to 20%. That’s what really stopped the gold bull market. But this gold bull market is just getting started, because the Fed isn’t anywhere near hiking rates. In fact, they’re cutting rates.”

Despite decades of artificially low interest rates and their resulting inflation, the market is too optimistic. The longer this goes on, the less plausible it is that the Fed can stay close to its inflation target:

“Every year, no matter how bad inflation was the prior year, the bond market is just assuming that it’s going to be 2% for the next 30 years. At some point, the bond market is going to have to come to terms with reality that this 2% target is all fantasy land—the Fed isn’t going to even come close to achieving that.”

Likewise, the American public mistakenly believes that politics can fix the economy without a painful and drastic correction period:

“It’s hard to get elected telling the truth that things can only get better if they get worse first. But Trump is promising immediate results—positive, no pain, just gain. And so nobody is prepared for what’s actually going to happen. That’s a problem. But the question is, can you get elected promising short-term pain for long-term gain? ‘Yes, I’m going to fix the problems, but in doing that, things are going to get worse before they get better. We have to spend less. We have to save more.’”

Turning to the havoc caused by hurricanes in recent weeks, Peter explains why it’s foolish to have bureaucrats in Washington, D.C. try to manage every disaster in the country:

“It’s a huge moral hazard, and so on the local levels, we’re not prepared. But it’s much better for North Carolina to take care of its own problems, as opposed to Washington, D.C., taking care of its problems. And California takes care of its problems instead of outsourcing it to Washington, D.C. You have Washington, D.C., trying to take care of wildfires in California, hurricanes in the Carolinas—whatever happens. But there’s so much corruption at the federal level, so much graft; it’s a very inefficient way to do it.”

In Europe, the move away from the dollar continues, with Poland significantly expanding its gold reserves. Central banks are the driving force behind gold’s rise this year, and Peter expects both central banks and the public to increase gold purchases:

“Right now, it’s foreign central banks, but they’re going to step it up. They have a lot more gold to buy—they’ve barely scratched the surface. Look now, Poland just announced that they’ve got more gold than the UK. This is a race. These central banks need to replace their dollars with gold because they can read the writing on the wall—they wrote it.”

For more analysis of the latest economic data, check out the SchiffGold Gold Wrap Podcast

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

Gold breaks above $2700

Ahead of the BRICS meeting at Kazan, gold soared to $2700+ this morning. Is a new gold backed trading currency discounted? Do you buy the rumour and sell the fact?

Alasdair Macleod

Share

Gold and silver continued to rise this week, driven by strong demand during Chinese trading hours, backed up by growing speculative demand on Comex. In European trade this morning, spot gold was trading at $2712, up $56 from last Friday’s close. Silver has been firm, less spectacularly so, nevertheless rising 58 cents to $32.10 on the same timescale.

There are enough solid reasons behind this positive performance, and for those of us who understand the difference between legal money in the form of precious metals and credit with counterparty risk and backed by no more than faith, the phenomenon is one of declining credit values rather than gold rising. It’s just that in the short run there has been a buildup of speculative long positions on Comex, and presumably in other paper markets as well. The next chart is of Open Interest in gold futures:

While on this measure there is some headroom before gold futures become seriously overbought, equally there is a heightened risk of a short-term pullback before gold values go much higher. While the hedge funds’ position for last Tuesday will only be available later today, the position on 8 October is our next chart:

Since then, Open Interest has increased by 27,000 contracts, likely pushing net longs to well over 200,000 contracts. Essentially, these positions are momentum trades. This is important because it takes no more than a pause in the bullish story for the Swaps to mark prices lower, triggering stops for a potential decline in the gold price. Whether this happens and the extent if it does will probably depend on events at Kazan next week.

This is the long-awaited BRICS summit, ahead of which there has been mounting speculation that led by China and Russia a new gold-backed trade settlement medium will be on the agenda. The issue is probably becoming more urgent, given a combination of heightened risks for the dollar which is noticeably sliding into a debt trap, an official policy of marginalising the dollar in both BRICS and Shanghai Cooperation Organisation trade, and now a need to protect roubles and yuan from a dollar fallout.

The difficulties in this decision are further compounded by an extremely delicate geopolitical background with a growing risk of military escalation, particularly in the Middle East and the South China Sea. Essentially, the decision over introducing a sounder medium of exchange than the dollar is more political than it has ever been. And that’s before we consider the consequences for China’s exports.

However, the downside in gold appears strictly limited because of continuing physical demand by central banks and similar institutions meeting insufficient supply. Then there’s the political uncertainty of the presidential election. Trump appears to be edging ahead of Harris. And Trump is committed to raising tariffs to protect American business.

We should remember the consequences of the Smoot-Hawley Tariff Act which in 1930 crashed world trade and the US economy, events which led to a 40% devaluation for the dollar in January 1934. At that time, Federal debt to GDP was only 16.5%. Now it is 135%, which suggests that tariff protectionism today will have far more negative consequences for the US and global economies, upon which the dollar’s credibility depends, than did Smoot-Hawley.

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

Mike Maharrey: What’s wrong with silver? Nothing at all!

Submitted by admin on Fri, 2024-10-18 11:11 Section: Daily Dispatches

By Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Friday, October 18, 2024

What’s wrong with silver? 

I hear this question a lot. 

After all, while gold continues to hit new record highs, seemingly on a weekly basis, silver is still well below its all-time high. Meanwhile, the gold-silver ratio remains mired above 80-1, signaling that silver is historically underpriced compared to gold this year.

So what’s wrong with silver?

The short answer is: nothing. In fact, silver has outperformed gold. The perception that silver is a laggard lately has more to do with gold’s exceptional performance than silver’s underperformance.

Silver is up about 34% in 2024. That compares to gold’s 30% gain.

Nevertheless, it is fair to wonder why silver hasn’t closed the gap with gold. …

… For the remainder of the analysis:

https://www.moneymetals.com/news/2024/10/18/whats-wrong-with-silver-nothing-003545

4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/no 195 ANDREW MAGUIRE

https://kinesis-money.com/live-from-the-vault

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

.

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING FRIDAY MORNING/THURSDAY  NIGHT

SHANGHAI CLOSED UP 92.18 PTS OR 2.91%

//Hang Seng CLOSED UP 725.01 PTS OR 3.61%

// Nikkei CLOSED UP 70.56 PTS OR 0.18%//Australia’s all ordinaries CLOSED DOWN 0.85%///Chinese yuan (ONSHORE) CLOSED UP TO 7.1078 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1207// Oil UP TO 70.58 dollars per barrel for WTI and BRENT UP AT 74.33 Stocks in Europe OPENED MOSTLY MIXED

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 7.1048

OFFSHORE YUAN: UP TO 7.1207

SHANGHAI CLOSED CLOSED UP 92.18 PTS OR 2.91%

HANG SENG CLOSED CLOSED UP 725.01 PTS OR 3.61%

2. Nikkei closed UP 70.56 POINTS OR 0.18%

3. Europe stocks   SO FAR:  MOSTLY MIXED

USA dollar INDEX UP TO  103.42 EURO RISES TO 1.0866 UP 18 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +0.959 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 150.02…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

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

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

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.2030 Italian 10 Yr bond yield DOWN to 3.380 SPAIN 10 YR BOND YIELD DOWN TO 2.893

3i Greek 10 year bond yield DOWN TO 3.034

3j Gold at $2705.30 /Silver at: 32.25  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 1 AND 2/100  roubles/dollar; ROUBLE AT 96.37

3m oil into the 70 dollar handle for WTI and  74 handle for Brent/

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 150.02  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.959% 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 0.8666 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9400  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: 4.111 UP 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.406 UP 1 BASIS PTS/

USA 2 YR BOND YIELD:  3.978 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.21…

10 YR UK BOND YIELD: 4.1355 UP 4 PTS

10 YR CANADA BOND YIELD: 3.186 UP 5 BASIS PTS

5 YR CANADA BOND YIELD: 2.955 UP 5 PTS.

2a New York OPENING REPORT

Futures Rise As Netflix Surge Sends Tech Higher; Gold At Record

Friday, Oct 18, 2024 – 08:21 AM

US equity futures are higher with tech leading once again, thanks to results from Netflix which beat lofty expectations and sent its stock to all time highs. As of 8:00am, S&P futures were up 0.2% to 5,900 while Nasdaq futures gained 0.5%, with most MegaCap Tech named higher: NVDA +1.2%, AAPL +1.1%, and NFLX jumped 6% post earnings beat. Bond yields are mixed and USD is lower; 2-, 5-, 10-year yields are 0.45bp lower, 0.23bp higher, and 0.6bp higher, respectively. Commodities are mixed with oil higher, base metals lower, and precious metals higher after China macro data beat estimates but reaffirmed the downward trend of China’s economy. Today, the key macro focus will be housing data (Housing Start and Building Permit), as well as AXP and PG earnings.

In premarket trading, Netflix shares rose 6.5% after the streaming company reported third-quarter results that beat expectations on key metrics, including subscriber additions. It also gave a forecast that is seen as positive. However, Phillip Securities downgraded its rating, flagging valuation concerns on the back of the recent stock rally. Apple rose as data showed China sales of its latest iPhone increased 20% in the first three weeks compared with the 2023 model. Here are some other notable premarket movers:

• Boston Scientific slips 1.2% after Needham & Co downgraded the stock to hold from buy, with the analyst seeing slowing revenue growth in 2025.
• CVS Health shares tumble 13% after the retail pharmacy chain reported third-quarter preliminary profit that fell short of Wall Street’s expectations, plus higher-than-forecast medical costs. The company also named David Joyner as its new CEO, replacing Karen Lynch.
• Intuitive Surgical shares gain 6.4% after the company reported third-quarter adjusted earnings per share that came ahead of consensus estimates. Piper Sandler said it was encouraged by another strong quarter of placements for the da Vinci 5, a surgical robot that makes it easier for surgeons to understand movement inside the body during operations.
• The US opened a federal investigation into whether Tesla’s partial-automation system known as Full Self-Driving is defective after four crashes, one of which resulted in a fatality. Tesla shares fell 0.6%.
• US-listed Chinese stocks rally in Friday’s premarket trading after President Xi Jinping vowed to support the tech sector. A slew of central bank statements also boosted optimism.
• Zeta Global shares are down 4.3% after Barclays downgraded the application software company to equal-weight from overweight.

Treasuries steadied from their heavy selling after a batch of strong data on the US economy Thursday recast expectations for interest-rate cuts. Much stronger than expected retail sales – driven entirely by record seasonal adjustments – underscored how consumer spending continues to power the American economy, lessening the urgency for the Federal Reserve to unwind restrictive rate policy. One beneficiary of the improving US economic narrative has been small-cap stocks. The Russell 2000 index is close to reclaiming a 2024 high as weakening inflation spurs bets the Fed has room to cut rates, albeit not by as much as previously thought.

Small caps are also getting a boost from the so-called Trump Trade, according to BofA strategist Michael Hartnett who echoed Stanley Druckenmiller saying there are signs investors are positioning for presidential victory by Donald Trump, moving into banks, small-cap stocks and the dollar, assets that rallied in November 2016 in the wake of his last successful run. Bitcoin, another favored Trump Trade, also closed in on a fresh record, while gold traded at a record high above $2700.

A broadening out of the stock rally beyond tech megacaps would be a development that Gene Salerno, chief investment officer at SG Kleinwort Hambros Ltd. said he’d welcome. “It’s something frankly we’ve wanted to see for some time,” he said.

In Europe, the Stoxx 600 climbs 0.3%, with mining and technology leading gains, while media and personal care, drug and grocery-store stocks lag. Here are the biggest movers Friday:

• European sectors with high exposure to China advance on Friday, as the country’s central bank moved to support markets, signaling authorities’ determination to continue their stimulus push and draw a line under the slowdown
• Comet shares jump as much as 7.5% after the Swiss supplier of radio-frequency tools to the semiconductor industry posted better-than-expected results, assuaging fears that guidance would’ve been lowered
• Brunello Cucinelli shares rise as much as 3.8% after the Italian cashmere house reported a rise in sales, in a sign that exposure to the very wealthiest of clients is helping the luxury firm weather an industry downturn
• Dowlais shares rise as much as 9.5% as BNP Paribas Exane raises its rating on the UK auto parts producer to outperform from neutral, seeing a potential sale of the Powder Metallurgy business unlocking value
• Elisa shares fall as much as 6.6% after the Finnish telecom operator’s quarterly revenue missed estimates, due to a drop in equipment sales and regulatory changes
• Raiffeisen Bank International drops as much as 4.2%, after it said it’s revising its 2Q and 1H net interest income following a change to the accounting method of the group, excluding Russia and Belarus
• Suss MicroTec shares drop as much as 12%, after being downgraded by analysts at Stifel in wake of the guidance cut from chip-making tool supplier ASML
• Future shares slump as much as 14%, hitting a five-month low, after the media company announced that CEO Jon Steinberg plans to step down

Asian equities also rose, snapping a four-day losing streak, with China’s CSI 300 rallying 3.6% as a slew of PBOC statements reignited optimism over policy support as stimulus hopes had recently faded. The MSCI Asia Pacific index climbed as much as 1.3%, its best day in three weeks, with TSMC the biggest boost as it jumped to a record high after raising its sales target. Chinese stocks in mainland and Hong Kong surged following comments by President Xi Jinping on boosting technology development and the central bank reignited optimism over policy support. The People’s Bank of China launched a specialized re-lending facility for share buybacks, while data showed China’s economy slowed in the third quarter, though less than expected. The nation’s equities have struggled, entering correction territory this week, as investors await details of promised stimulus

In rates,  treasuries are narrowly mixed with yields off session highs and the curve slightly steeper after limited price action during Asia session and European morning. US 10-year yields rise 2bps around 4.11% with bunds outperforming by 2bp in the sector. Front-out outperformance steepens US 2s10s spread by around 1bp on the day. Gilts fall while the pound adds 0.2% as UK retail sales topped estimates. German short-end bonds caught a bid after Reuters reported some ECB governors wanted to drop a pledge to keep policy tight at Thursday’s meeting; German 2s10s widens 2.2bp with 2-year Bunds outperform Treasuries, as a faster pace of ECB interest-rate cuts has been priced into swaps since Thursday’s policy decision; ECB OIS contract prices in around 30bp of easing for the December policy meeting, following Thursday’s 25bp rate cut. Within euro-zone, Italian bonds outperform. US session includes four Fed speakers.

In FX, the Bloomberg Dollar Spot Index falls 0.2%, down for the first day in five; gauge still set for third week higher. US data include Sept. housing starts, building permits

• GBP/USD rises 0.3% to 1.3045, adding to Thursday’s gains; UK retail sales unexpectedly rose on demand for consumer tech
• EUR/USD gains 0.2% to 1.0847, as Euro Parity Threat Is Back on Trump Tariffs Risk, ECB Cuts
• USD/JPY gained 0.2%, dragging USD/JPY back below 150 after Japan’s top currency official warned he closely watching market movements.
• AUD/USD up 0.3% to 0.6713; NZD/USD rises 0.3% to 0.6076. Australian and New Zealand dollars gain as People’s Bank of China discloses details on measures to boost capital markets

In commodities, oil prices are steady, with WTI trading near $70.70 a barrel. Spot gold adds $20, topping $2,700 for the first time amid ongoing tensions in the Middle East.

Looking at today’s calendar, US economic data includes September housing starts and building permits (8:30am). Fed members scheduled to speak include Bostic (9:30am, 12:30pm), Kashkari (10:20am) and Waller (12:10pm).

Market Snapshot

• S&P 500 futures up 0.2% to 5,898.25
• STOXX Europe 600 up 0.3% to 525.51
• MXAP up 1.1% to 191.23
• MXAPJ up 1.6% to 610.97
• Nikkei up 0.2% to 38,981.75
• Topix little changed at 2,688.98
• Hang Seng Index up 3.6% to 20,804.11
• Shanghai Composite up 2.9% to 3,261.56
• Sensex up 0.4% to 81,299.62
• Australia S&P/ASX 200 down 0.9% to 8,283.23
• Kospi down 0.6% to 2,593.82
• German 10Y yield little changed at 2.21%
• Euro little changed at $1.0841
• Brent Futures up 0.2% to $74.63/bbl
• Gold spot up 0.4% to $2,703.23
• US Dollar Index down 0.16% to 103.66

Top Overnight News

• Investor Ray Dalio expressed his concerns about the orderly transition of power in the US and whether election results will be accepted by both parties.
• UK retail sales unexpectedly rose in September, driven by computer sales and other electronics, despite the wider backdrop of declining confidence ahead of tax rises expected in this month’s budget.
• The US said it would push toward a cease-fire in Gaza after Israel killed Yahya Sinwar, the leader of Hamas and the mastermind of the Oct. 7 attacks that ignited a yearlong war in the Palestinian enclave. Israel said it would keep fighting until all the hostages seized by Hamas are free.
• Current private debt returns fail to justify the growing risk, according to Pacific Investment Management Co.
• Gold topped $2,700 an ounce for the first time, as concerns over escalating conflicts in the Middle East and a tight US election race prompt investors to flock to safety.

A more detailed look at global markets courtesy of newsquawk

APAC stocks followed suit to the mixed performance stateside as the region digested further support measures from the PBoC and a slew of Chinese data including mixed Q3 GDP, better-than-expected activity data and a further decline in House Prices. ASX 200 pulled back from recent record highs with Utilities, Consumer Discretionary and Tech leading the downturn seen across nearly all sectors. Nikkei 225 was indecisive around the 39,000 level with the upside capped following firmer-than-expected inflation. Hang Seng and Shanghai Comp outperformed but with gyrations seen as participants reflected on the slew of key data from China and with the large banks reducing interest rates on deposits by 25bps. However, sentiment was eventually lifted after comments from PBoC Governor Pan who reiterated that they could cut RRR further this year and noted expectations for a 20bps-25bps reduction in the Loan Prime Rates on Monday. Furthermore, it was initially reported that Pan announced the 7-day reverse repo rates would be lowered by 20bps and the interest rate on the Medium-term Lending Facility could be reduced by 30bps depending on market liquidity, although a major newswire later corrected this headline to state that Pan actually commented that the 7-day reverse repo rates and medium-term lending rates had already been lowered by 20bps and 30bps, respectively.

Top Asian News

• PBoC Governor Pan reiterated that they may further lower RRR this year by 25bps-50bps based on market liquidity and the LPR is expected to drop by 20bps-25bps on Monday, while it was initially reported that Pan said the 7-day reverse repo rates will be lowered by 20bps and the interest rate on Medium-term Lending Facility could be reduced by 30bps depending on market liquidity, although this was later corrected by a major newswire to state that Pan said the 7-day reverse repo rates and medium-term lending rates had already been lowered by 20bps and 30bps, respectively. Furthermore, the PBoC launched its Securities, Funds and Insurance companies Swap Facility operation in which the First batch of SFISF quotas exceeded CNY 200bln.
• PBoC, NFRA and CSRC held a meeting with major financial institutions on the implementation of incremental financial policies on October 16th, while the PBoC emphasised increasing support for financing small firms and implementing the swap facility. It was also reported that large Chinese banks lowered interest rates on CNY fixed-rate deposits by 25bps.
• China’s financial regulator said financial institutions will be guided to continue increasing financial supply and fully support the economic recovery, while banks will be guided to cooperate in the extension, restructuring, and replacement of hidden debts, actively supporting efforts to resolve local government debt risks. There were also comments from the CSRC chairman that China is cracking down on illegal share reductions by shareholders and the CSRC has forced them to take responsibility and buy back shares, while they will further deepen reforms in capital market investment and financing.
• China stats bureau deputy chief says September economic indicators showed positive changes and China’s foreign trade situation this year is better than expected but added that the foundation for the economic recovery is not solid yet. The official stated the implementation of a basket of policy measures will be sped up and optimism about the prospects of the property sector has increased after recent policy measures.
• IMF’s Georgieva said China’s stimulus measures are in the right direction, but structural reforms are needed to drive domestic consumption, while she added that China should not rely on some miracle that would allow exports to keep driving growth given its massive size. Furthermore, she said China faces trouble if it tries to stick to an export-led growth model, with more trade tensions and slower growth, as well as warned that a failure to shift the economic model toward consumption risks medium-term annual growth falling below 4%.
• Japanese top currency diplomat Mimura said closely watching FX moves with a high sense of urgency and recent yen moves are somewhat rapid and one-sided, while excess volatility in the FX market is undesirable.
• BoJ Governor Ueda says Japan’s economy is recovering moderately; likely to continue growing above potential; Financial markets remain unstable. Financial systems remain stable as a whole.
• Japan’s largest labour union will seek wake hikes of at least 5% in 2025.

European bourses began the session mostly lower but this quickly began more of a mixed picture, Euro Stoxx 50 +0.5%; main theme is China strength which has driven strength in Autos, Basic Resources & Luxury names. FTSE 100 -0.2% is the modest laggard following stronger-than-expected Retail Sales which prompted strength in Sterling and weighed on exporters. Stateside, futures are in the green in relatively quiet trade, ES +0.2%; NQ +0.5% outperforms given Netflix +5% in pre-market trade after their earnings which topped estimates, driven by a 35% increase in ad-tier memberships. Apple (AAPL) iPhone 16 sales reportedly up 20% compared to iPhone 15, via Bloomberg; Pro & Pro Max sales +44% Y/Y

Top European News

• BoE’s Woods proposed allowing bonus vesting on a pro-rata basis after year one moving to a five-year bonus deferral period for senior bank managers, while he said proposals will support growth without undermining financial stability.
• Some large UK-based pension funds warned that being forced to invest in the UK would be ‘huge mistake’ which could reduce payouts to pensioners, according to FT.

ECB

• ECB’s Vasle says there is no pre-commitment regarding the ECB’s next steps, and that inflation would be back to 2% at sometime next year, according to Econostream.
• ECB’s Muller says inflation will settle around the 2% mark, risks around services and wages remain. Near-term economic outlook hasn’t changed significantly, growth to be more modest.
• ECB’s Villeroy says “we have total optionality” for the upcoming meetings. Risk of durably undershooting on inflation is now as big as overshooting it.
• Some ECB governors at this week’s meeting wanted to drop the pledge to keep policy tight, according to Reuters sources; view was based on the judgement that inflation could turn out to be lower than anticipated just a few weeks ago.- ECB SPF – Inflation: 2025 seen at 1.9% vs. prev. view of 2.0%, 2026 forecast remains at 1.9%. Growth: 2025 GDP forecast lowered to 1.2% from 1.3%, 2026 projection left at 1.4%.
• ECB Bulletin: “Main findings from the ECB’s recent contacts with non‑financial companies”; Contacts did not anticipate much change to the overall subdued growth dynamic in the short term

FX

• USD is broadly softer against peers, following the data driven gains seen on Thursday. DXY within yesterday’s range and capped by that session’s high which coincides with the 200-DMA at 103.78.
• EUR is marginally firmer, unreactive to a handful of ECB speakers and the latest SPF findings. Nearing the 1.0850 mark, shy of Thursday’s 1.0873 best.
• GBP outperforms, following stronger retail metrics this morning. Though, the release doesn’t really change the narrative of BoE cuts being more likely than not at the next few meetings. Insight potentially comes via Bailey next week. Cable hit a 1.3071 peak, but has since faded to 1.3050.
• USD/JPY briefly eclipsed 150.00 following firmer-than-expected Japanese CPI metrics overnight; currently towards the mid-point of 149.78-15028 parameters.
• Yuan firmer followed extensive PBoC commentary overnight and as it digests a raft of data with GDP and Retail numbers supporting; Antipodeans bid as such.
• PBoC set USD/CNY mid-point at 7.1274 vs exp. 7.1267 (prev. 7.1220).

Fixed Income

• EGBs are essentially unchanged; Bunds came under modest pressure alongside the complex broadly after hawkish UK retail data and as the PBoC-driven China tailwinds reverberated into Europe.
• Bunds around the 134.00 mark, resistance at 134.17 from Thursday with the WTD high thereafter at 134.25.
• Gilts gapped lower by 10 ticks at the opening following strong retail data. A move which was modest in nature though and has proved to be short lived. Down to 97.27 at worst, but back to near unchanged and the 97.45 high, a point which is still someway off yesterday’s 97.96 best.
• USTs are in-fitting with EGBs/Gilts, pivoting the unchanged mark in a slim range into data and Fed speak. Yields are mixed but with overall action modest as the curve steepens a touch.

Commodities

• Crude benchmarks have been choppy in the European morning, going into a weekend of potential geopolitical risk following the death of the Hamas leader Sinwar. Benchmarks in a narrow sub-1/bbl range with gains of around USD 0.30/bbl each.
• Precious metals are bolstered, tailwinds coming from ongoing geopolitical risk and performance of China overnight. XAU remains above the USD 2.7k/oz mark, at a USD 2714/oz peak.
• Base metals also in the green, following the mentioned China developments where the PBoC Governor flagging a further cut to RRR and reductions to the LPR.

Geopolitics: Middle East

• Israeli PM Netanyahu met with his security team at the PM office and later confirmed the death of Hamas leader Sinwar, while he added that Israel’s task is not complete and the war is not over with Israel to continue full force until its hostages are returned.
• White House said US President Biden and Israeli PM Netanyahu discussed how to exploit the Hamas leader Sinwar’s death to bring hostages home and end the war, while they agreed to stay in close contact over the coming days.
• US Defense Secretary Austin said the death of Hamas head Sinwar provides an extraordinary opportunity to achieve a lasting ceasefire, while it also provides an opportunity to end the war, rush in more humanitarian assistance in Gaza, as well as bring relief and hope to Palestinians.
• US is to try and push a Gaza ceasefire proposal forward, while there have been no negotiations for a Gaza ceasefire for the past few weeks.
• US Secretary of State Blinken told Israeli President Herzog he is expected to arrive in the coming days in the region to discuss a ceasefire deal, according to Kann News.
• US sources cited by CNN noted that Washington still believes that the Israeli response to Iran may happen within days.
• Israel told mediators that it is open to ideas that could be put forward for a Gaza deal, according to Al Arabiya.
• Hezbollah said it is moving to a new and escalating phase in the confrontation with Israel.
• Speaker of the Iranian parliament told French newspaper Le Figaro that Tehran is ready to negotiate with Paris for a ceasefire in Lebanon, according to Sky News Arabia.

OTHER

• Russia is to test the combat readiness of one of its strategic nuclear missiles units, according to RIA.
• North Korean leader Kim said South Korea is an apparent hostile country, while he added that the changed nature of the South Korea-US alliance and different military manoeuvres highlight the importance of a stronger North Korean nuclear deterrent, according to KCNA.

US Event Calendar

• 08:30: Sept. Building Permits MoM, est. -0.7%, prior 4.9%, revised 4.6%
• 08:30: Sept. Housing Starts MoM, est. -0.4%, prior 9.6%
• 08:30: Sept. Building Permits, est. 1.46m, prior 1.48m, revised 1.47m
• 08:30: Sept. Housing Starts, est. 1.35m, prior 1.36m

Central Bank speakers

• 09:30: Fed’s Bostic Presents to High School Students
• 10:00: Fed’s Kashkari Moderates Panel Event
• 12:10: Fed’s Waller Speaks on Decentralized Finance
• 12:30: Fed’s Bostic Participates in Moderated Conversation

DB’s Jim Reid concludes the overnight wrap

Yikes! No sooner as it was back to school, we now have 2 weeks of half-term to survive at home after today. The normal course of events is that my wife is keen to spend time with them on day one but by day two, when I get home from work, she’s reached the end of her tether. Feels like time for an emergency business trip.

From back-to-school to back-to-back for the ECB yesterday for the first time this cycle. Meanwhile, markets priced out the likelihood of the Fed doing the same at every meeting over the next few months. As such, the key theme of the day was stronger US data bringing renewed pressure on bonds, with 10yr Treasury yields rising +7.8bps as real yields reached their highest level since August. This led to some loss of momentum for the S&P 500 (-0.02%), though the index had seen a new intra-day record high early in the session. The latest ECB rate cut still supported risk markets in Europe, while the Dow Jones (+0.37%) posted at a new record high of its own and US IG spreads closed at their tightest level since 2005.

The main catalyst for the day’s market moves was another batch of upbeat US data, which dampened any immediate fears about a potential recession. For instance, the weekly initial jobless claims fell to 241k (vs. 259k expected) in the week ending October 12, coming off their recent high of 260k last week. The rates reaction to last week’s spike was always a bit odd given we all knew about the potential impact of the recent storms. In addition, the latest retail sales data also surprised on the upside with growth of +0.4% in September (vs. +0.3% expected). So it added to the trend whereby September data has kept surprising on the upside, including the jobs report and the CPI print. As such, it feels a far cry from the recession fears of the summer, and also from the 260bps of Fed cuts priced in by the end of 2025 shortly before the September FOMC. That’s now at +198bps including the 50bps we’ve already had. Cementing the current strong nature of the data, the latest Atlanta Fed’s GDPNow is pointing towards annualised growth of 3.4% in Q3.

In terms of near-term Fed expectations, futures are now only pricing in 84bps of cuts by the March 2025 meeting, down -4.9bps from the previous day. That’s equivalent to 3.3 cuts at the upcoming four meetings, so market pricing suggests it’s more likely than not that the Fed will pause their cuts for at least one meeting over the next six months. And with investors dialling back the likelihood of rate cuts, Treasury yields moved significantly higher, with the 10yr yield up +7.8bps on the day to 4.09%. Higher yields saw the dollar index (+0.23%) rise for the 12th time in 14 sessions, to its highest level since August 1.

Over in Europe, it was a bit of a different story, as the ECB delivered a 25bp cut in their deposit rate, taking it down to 3.25%. The move was widely expected, but it’s the first back-to-back rate cut of this cycle, as they previously moved at a quarterly pace in June and then September. Indeed, there was some fresh momentum in that direction just a few hours beforehand, as the September CPI print for the Euro Area was revised down by a tenth to +1.7%.

While the ECB lowered rates, they didn’t pre-commit to any future moves, with the statement maintaining the language that they would “keep policy rates sufficiently restrictive for as long as necessary”, and “continue to follow a data-dependent and meeting-by-meeting approach”. At the same time, President Lagarde acknowledged the recent weakening in activity and noted that there were “probably more downside risks” on inflation. Our European economists (see their reaction here) see yesterday’s meeting as signaling a pivot to an accelerated easing cycle and they continue to expect back-to-back 25bp cuts until policy rates reach the midpoint of the 2.00-2.50% neutral range. However, they highlight the significant uncertainties, which are mostly to the downside. A potential trade war, the impact of and response to weak competitiveness, the degree of labour hoarding and the path of oil prices could all play a role in determining the path of ECB policy. They see the risks tilted towards the ECB cutting faster and further than the baseline, with a 50bp cut in December a real possibility. There is a fair bit of water to flow under the bridge until then though, especially when in data-dependent mode.

By the close, overnight swaps pricing had significantly increased the likelihood of a 50bp rate cut at the ECB’s December meeting, with 2yr bund yields falling by -2.3bps. However, further out the curve yields on 10yr bunds (+2.5bps) and OATs (+2.0bps) actually moved slightly higher. And there was a notable milestone for the Italian 10yr spread over German bunds, which reached its tightest level since November 2021, at just 120bps.

When it came to equities, it was a mixed day, with the S&P 500 trading +0.6% higher at the open following the stronger data but then losing ground to close -0.02% lower on the day. The moves were pretty subdued in aggregate, with none of the 11 major S&P sector groups moving by more than 1%. Gains for financial and energy stocks lifted the Dow Jones (+0.37%) to a new all-time high, while the rate-sensitive utilities sector (-0.93%) led the declines within the S&P 500. The NASDAQ (+0.04%) and the Magnificent 7 (+0.01%) were little changed, while the small-cap Russell 2000 (-0.25%) saw a modest underperformance, coming off its strongest level since November 2021. Nvidia rose +3.31% on the back of strong results by TSMC whose own shares are up +4.83% in Asia this morning after initially jumping as much as +6.0%, and in-turn hitting a record high.

Meanwhile, Netflix was up by +5% in after-hours trading, as its Q3 results exceeded subscriber and earnings estimates. Prior to this, the equity mood was clearly positive in Europe, closing before the late US dip, with the STOXX 600 up +0.83%, alongside an outperformance for the CAC 40 (+1.22%).

Elsewhere, there were several geopolitical headlines yesterday, as Israel said that Hamas leader Yahya Sinwar was announced to have been killed in Gaza. Sinwar’s death follows last month’s strike which killed Hassan Nasrallah, the leader of Hezbollah, and it comes as Israel is still considering how to respond to Iran’s strikes earlier this month. Brent crude oil prices (+0.31%) moved slightly higher yesterday to $74.45/bbl. The signs that investors were seeking out safe havens were more visible for gold (+0.71%), with a further +0.64% move overnight, and hitting an all-time high in nominal terms of $2,709.85/oz.
Asian equity markets are mostly trading higher this morning following China’s better-than-expected GDP data. The Hang Seng (+1.10%) is leading gains with the CSI (+0.77%) and the Shanghai Composite (+0.67%) also trading in positive territory. Elsewhere, the Nikkei (+0.38%) is also seeing gains while the KOSPI (-0.54%) and the S&P/ASX 200 (-1.10%) are lower. US stock futures and Treasuries have hardly moved.

Coming back to China, the economy expanded +4.6% in the July-September quarter, its slowest pace since early 2023 but a touch above the Bloomberg consensus forecast of a +4.5% increase and less than the previous quarter’s +4.7%. On a QoQ basis, the economy expanded +0.9% in the third quarter, compared with a downwardly revised +0.5% growth in Q2, and below forecast of 1.0%. Industrial production and retail sales saw a decent beat but this data is all pre-stimulus. It perhaps suggests that economy momentum wasn’t deteriorating further before this though.

Separately, Japan’s core inflation slowed in September (+2.4% y/y) for the first time in five months due to the rollout of energy subsidies and compared with market expectations for a +2.3% gain and easing from +2.8% in August.

Looking at yesterday’s other data, US industrial production was broadly in line with expectations, seeing a -0.3% contraction in September (vs. -0.2% expected). Otherwise, the NAHB’s housing market index was up to 43 in October (vs. 42 expected), moving higher for a second consecutive month.

To the day ahead now, and data releases include UK retail sales for September, along with US housing starts and building permits for September. Central bank speakers include the Fed’s Bostic, Kashkari and Waller. And today’s earnings releases include Procter & Gamble and American Express.

2B) European report

2C ASIAN REPORT

Chinese sentiment lifted following comments from PBoC governor, earnings ahead – Newsquawk Europe Market Open

Friday, Oct 18, 2024 – 01:27 AM

• APAC stocks followed suit to the mixed performance stateside as the region digested further support measures from the PBoC and a slew of Chinese data including mixed Q3 GDP, better-than-expected activity data, and a further decline in House Prices.
• Chinese sentiment was eventually lifted after comments from PBoC Governor Pan who reiterated that they could cut RRR further this year and noted expectations for a 20bps-25bps reduction in the Loan Prime Rates on Monday.
• ECB officials reportedly see a December cut very likely with the 2% goal nearer, according to Bloomberg; Reuters sources added policymakers expect a rate cut in December barring a major rise in data such as core and services inflation or in indicators of economic growth.
• Israeli PM Netanyahu confirmed the Hamas leader’s death and said Israel’s task is not complete and the war is not over, while Israel is to continue full force until its hostages are returned.
• European equity futures are indicative of a subdued cash open with the Euro Stoxx 50 future -0.2% after the cash market closed higher by 0.8% on Thursday.
• Looking ahead, highlights include UK Retail Sales, US Building Permits, ECB Survey of Professional Forecasters, Comments from Fed’s Bostic, Kashkari & Waller, Earnings from Regions Financial, Fifth Third Bancorp, Procter & Gamble, American Express, SLB, Ally Financial & Volvo AB.

SNAPSHOT

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US TRADE

EQUITIES

• US stocks ultimately closed mixed with outperformance in the DJIA and weakness in the small-cap Russell 2000 as participants digested earnings releases and the latest data including better-than-expected Retail Sales, Initial Jobless Claims and Philly Fed Index which lifted the dollar and yields. Most sectors were subdued although Tech, Energy and Financials gained as semiconductors were underpinned by TSMC earnings and with NVIDIA at fresh record highs, while Financials benefitted from Blackstone’s strong results. Netflix rose 5% after earnings and subscriber growth topped estimates.
• SPX -0.02% at 5,841, NDX +0.08% at 20,190, DJI +0.37% at 43,239, RUT -0.25% at 2,281.
• Click here for a detailed summary.

APAC TRADE

EQUITIES

• APAC stocks followed suit to the mixed performance stateside as the region digested further support measures from the PBoC and a slew of Chinese data including mixed Q3 GDP, better-than-expected activity data and a further decline in House Prices.
• ASX 200 pulled back from recent record highs with Utilities, Consumer Discretionary and Tech leading the downturn seen across nearly all sectors.
• Nikkei 225 was indecisive around the 39,000 level with the upside capped following firmer-than-expected inflation.
• Hang Seng and Shanghai Comp outperformed but with gyrations seen as participants reflected on the slew of key data from China and with the large banks reducing interest rates on deposits by 25bps. However, sentiment was eventually lifted after comments from PBoC Governor Pan who reiterated that they could cut RRR further this year and noted expectations for a 20bps-25bps reduction in the Loan Prime Rates on Monday. Furthermore, it was initially reported that Pan announced the 7-day reverse repo rates would be lowered by 20bps and the interest rate on the Medium-term Lending Facility could be reduced by 30bps depending on market liquidity, although a major newswire later corrected this headline to state that Pan actually commented that the 7-day reverse repo rates and medium-term lending rates had already been lowered by 20bps and 30bps, respectively.
• US equity futures lacked direction after recent indecision and ignored the China-related developments.
• European equity futures are indicative of a subdued cash open with the Euro Stoxx 50 future -0.2% after the cash market closed higher by 0.8% on Thursday.

FX

• DXY took a breather after strengthening on the back of data releases including US Retail Sales, Initial Jobless Claims and Philly Fed Business Index, while the focus for the dollar now turns to Housing Starts and Building Permits, as well as Fed speakers.
• EUR/USD regained some composure after recently giving way to the dollar strength but with the rebound constrained after the recent ECB rate cut and as source reports also noted that officials see another cut in December as very likely.
• GBP/USD remained afloat after oscillating around the 1.3000 level ahead of incoming UK Retail Sales data.
• USD/JPY trickled beneath the 150.00 focal point after the latest CPI data printed firmer than expected but mostly slowed from the previous month, while there were brief headwinds on jawboning by Japan’s top currency diplomat.
• Antipodeans struggled for direction alongside the uneventful picture across the FX space and with only slight support seen following the latest Chinese GDP and activity data, while the tailwind from the PBoC’s latest announcement was only brief.
• PBoC set USD/CNY mid-point at 7.1274 vs exp. 7.1267 (prev. 7.1220).

FIXED INCOME

• 10yr UST futures lacked demand after the prior day’s bear steepening in which selling pressure was triggered by stronger-than-expected Retail Sales and a fall in Initial Jobless Claims but with prices off their lows after support held at the 112.00 level.
• Bund futures were marginally positive and briefly reclaimed the 134.00 status but remained confined within yesterday’s range.
• 10yr JGB futures followed suit to the recent declines in US counterparts with prices also not helped by the firmer-than-expected Japanese CPI data.

COMMODITIES

• Crude futures eked marginal gains with some mild volatility seen after Israeli PM Netanyahu confirmed the death of Hamas leader Sinwar which renewed some hopes for a ceasefire, although the initial dip in oil was then reversed as Netanyahu added that the war is not over and vowed to continue with full force until hostages are returned.
• Spot gold extended its recent rally to breach the USD 2700/oz level and print a fresh all-time high.
• Copper futures gained as participants digested the latest developments in China including large banks reducing their interest rates by 25bps on CNY fixed-rate deposits and an erroneous report of the PBoC conducting fresh short-term funding rate cuts.

CRYPTO

• Bitcoin gained overnight but was off intraday highs after failing to sustain a brief foray above the USD 68,000 level.

NOTABLE ASIA-PAC HEADLINES

• PBoC Governor Pan reiterated that they may further lower RRR this year by 25bps-50bps based on market liquidity and the LPR is expected to drop by 20bps-25bps on Monday, while it was initially reported that Pan said the 7-day reverse repo rates will be lowered by 20bps and the interest rate on Medium-term Lending Facility could be reduced by 30bps depending on market liquidity, although this was later corrected by a major newswire to state that Pan said the 7-day reverse repo rates and medium-term lending rates had already been lowered by 20bps and 30bps, respectively. Furthermore, the PBoC launched its Securities, Funds and Insurance Companies Swap Facility operation in which the First batch of SFISF quotas exceeded CNY 200bln.
• PBoC, NFRA and CSRC held a meeting with major financial institutions on the implementation of incremental financial policies on October 16th, while the PBoC emphasised increasing support for financing small firms and implementing the swap facility. It was also reported that large Chinese banks lowered interest rates on CNY fixed-rate deposits by 25bps.
• China’s financial regulator said financial institutions will be guided to continue increasing financial supply and fully support the economic recovery, while banks will be guided to cooperate in the extension, restructuring, and replacement of hidden debts, actively supporting efforts to resolve local government debt risks. There were also comments from the CSRC chairman that China is cracking down on illegal share reductions by shareholders and the CSRC has forced them to take responsibility and buy back shares, while they will further deepen reforms in capital market investment and financing.
• China Stats Bureau deputy chief says September economic indicators showed positive changes and China’s foreign trade situation this year is better than expected but added that the foundation for the economic recovery is not solid yet. The official stated the implementation of a basket of policy measures will be sped up and optimism about the prospects of the property sector has increased after recent policy measures.
• US Treasury Secretary Yellen said China doesn’t need one-off checks to boost spending and consensus urges China to boost the consumer share of income, while White House Economic Adviser Singh said data shows China is using its market power to gain economic and geopolitical leverage and the US sees an unrivalled level and rate of growth in China’s subsidies.
• IMF’s Georgieva said China’s stimulus measures are in the right direction, but structural reforms are needed to drive domestic consumption, while she added that China should not rely on some miracle that would allow exports to keep driving growth given its massive size. Furthermore, she said China faces trouble if it tries to stick to an export-led growth model, with more trade tensions and slower growth, as well as warned that a failure to shift the economic model toward consumption risks medium-term annual growth falling below 4%.
• Japanese top currency diplomat Mimura said closely watching FX moves with a high sense of urgency and recent yen moves are somewhat rapid and one-sided, while excess volatility in the FX market is undesirable.

DATA RECAP

• Chinese GDP QQ (Q3) 0.9% vs. Exp. 1.0% (Prev. 0.7%)
• Chinese GDP YY (Q3) 4.6% vs. Exp. 4.5% (Prev. 4.7%)
• Chinese Industrial Output YY (Sep) 5.4% vs. Exp. 4.5% (Prev. 4.5%)
• Chinese Retail Sales YY (Sep) 3.2% vs. Exp. 2.5% (Prev. 2.1%)
• Chinese China House Prices YY (Sep) -5.8% (Prev. -5.3%)
• Japanese National CPI YY (Sep) 2.5% vs. Exp. 2.4% (Prev. 3.0%)
• Japanese National CPI Ex. Fresh Food YY (Sep) 2.4% vs. Exp. 2.3% (Prev. 2.8%)
• Japanese National CPI Ex. Fresh Food & Energy YY (Sep) 2.1% vs. Exp. 2.0% (Prev. 2.0%)

GEOPOLITICS

MIDDLE EAST

• Israeli PM Netanyahu met with his security team at the PM office and later confirmed the death of Hamas leader Sinwar, while he added that Israel’s task is not complete and the war is not over, and Israel is to continue full force until its hostages are returned.
• White House said US President Biden and Israeli PM Netanyahu discussed how to exploit the Hamas leader Sinwar’s death to bring hostages home and end the war, while they agreed to stay in close contact over the coming days.
• US Defense Secretary Austin said the death of Hamas head Sinwar provides an extraordinary opportunity to achieve a lasting ceasefire, while it also provides an opportunity to end the war, rush in more humanitarian assistance in Gaza, as well as bring relief and hope to Palestinians.
• US is to try and push a Gaza ceasefire proposal forward, while there have been no negotiations for a Gaza ceasefire for the past few weeks.
• US Secretary of State Blinken told Israeli President Herzog he is expected to arrive in the coming days in the region to discuss a ceasefire deal, according to Kann News.
• White House’s Sullivan said they had constructive communications with Israel on the potential response to Iran.
• US sources cited by CNN noted that Washington still believes that the Israeli response to Iran may happen within days.
• Israel told mediators that it is open to ideas that could be put forward for a Gaza deal, according to Al Arabiya.
• Hamas will not show any flexibility in the negotiations in the short term but after a replacement for Sinwar is appointed, there may be changes in tone, according to Kann News citing sources.
• Hezbollah said it is moving to a new and escalating phase in the confrontation with Israel.
• Speaker of the Iranian parliament told French newspaper Le Figaro that Tehran is ready to negotiate with Paris for a ceasefire in Lebanon, according to Sky News Arabia.

OTHER

• Russia is to test the combat readiness of one of its strategic nuclear missile units, according to RIA.
• North Korean leader Kim said South Korea is an apparent hostile country, while he added that the changed nature of the South Korean-US alliance and different military manoeuvres highlight the importance of a stronger North Korean nuclear deterrent, according to KCNA.

EU/UK

NOTABLE HEADLINES

• ECB officials reportedly see a December cut very likely with the 2% goal nearer, according to Bloomberg. It was also reported that sources cited by Reuters noted that ECB policymakers do expect a rate cut in December barring a major rise in data such as core and services inflation or in indicators of economic growth, while US elections and threat of a fresh trade tariff if Trump is elected were seen as a major source of uncertainty.
• BoE’s Woods proposed allowing bonus vesting on a pro-rata basis after year one moving to a five-year bonus deferral period for senior bank managers, while he said proposals will support growth without undermining financial stability.
• Some large UK-based pension funds warned that being forced to invest in the UK would be ‘huge mistake’ which could reduce payouts to pensioners, according to FT.

3B NORTH KOREA/SOUTH KOREA

3C JAPAN

3D. CHINA

China tires to out b/s the USA

(zerohedge)

China Macro Data Dump “Unexpectedly” Beats Across The Board

by Tyler Durden

Thursday, Oct 17, 2024 – 11:06 PM

On the day the Biden admin decided to flagrantly misrepresent the last retail sales report before the election, and used the biggest ever September seasonal adjustment on record to make an unadjusted retail sales decline into a blazing hot print, once again misleading the Fed that the economy is doing much better than it is, something Powell lamented after the BLS recently “revised out” some 818K jobs …

… China decided to out BS the BLS, and moments ago reported economic “data” that was fake, goalseeked and, well, BS from top to bottom.

In its Friday morning data dump when Beijing reported all the key economic metrics for the month, as one would expect from the only country eager to outmanipulate the US when it comes to rigging econ data, every single data point beat estimates but only ever so slightly, you know… to make it realistic:

• Q3 GDP 4.6%, beating estimates of 4.5% (but down from 4.7$ in Q2).
• Retail Sales Sept 3.2%, beating estimates of 2.5%, and up from 2.1%
• Industrial Output 5.4%, beating estimates of 4.5%, and up from 4.5%
• Fixed Investment Jan-Sept 3.4%, beating estimates of 3.3%, and unch sequentially
• Urban jobless rate dropped to 5.1% from 5.3% in August

Why this miraculous “beat” across the board? Simple: to instill confidence that the fake bazooka which Beijing pretended to fire in late September, yet which appears to be just another major dud where Xi Jinping hopes to sent stocks and home prices surging without actually massively expanding credit into the economy, is already succeeding. The better-than-expected retail sales figures in September also received a boost from government subsidies for buying home appliances, which saw a 21% surge in sales from a year ago, picking up from a 3% gain in the previous month.

Alas, as we discussed earlier, it is doing anything but and investors are already fleeing from Chinese markets just days after mainland stocks soared as much as 30% on what in retrospect appears to have been hollow promises, lies and David Tepper dumping his bags while using gullible CNBC viewers as exit liquidity telling them to buy China no questions asked.

Yet not even the fake data could cover up that China’s economy continues to sink: yes, the numbers may have beat, but the Q3 GDP – the slowest since Q1 2023 – remains well below the government’s target for full-year growth of 5% and less than the 4.7% recorded in the previous quarter as sluggish consumption and a property slump weighed on household sentiment.

“It makes the official growth target of 5% difficult to achieve if this trend continues to year end,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. “This may be why the government decided in the Politburo meeting to change policy stance and boost growth.”

The National Bureau of Statistics said there’s reason for caution despite improvements in the main indicators as the stimulus measures are rolled out. “We also need to see that the external environment is increasingly complex and grim, and the economy’s foundation for rebound and improvement needs to be further solidified,” a spokesperson said in a statement accompanying the release, pretending it is somehow everyone else’s fault Beijing has completely lost its ability to reflate the economy.

Data released before Friday painted a mixed picture for growth in September. Exports slowed sharply, curbing a trade rebound that has been a bright spot for the economy. Deflationary pressures continued to build, with consumer prices still weak and factory gate prices falling for 24 straight months.

The softer growth will underscore the need for more support for the economy from Beijing, which in late September announced its biggest monetary stimulus since the pandemic and followed up with promises of heavy fiscal spending, yet which have yet to materialize.

As noted earlier, China’s markets reacted exuberantly to the news of monetary stimulus but – once Jim Cramer said to rush into Chinese stocks – have slumped as desperate investors await confirmation of the coming fiscal stimulus. The CSI 300 index of Shanghai- and Shenzhen-listed stocks and Hong Kong’s Hang Seng benchmark are down in October, although they remain up for the year to date.

Efforts by the country’s economic planner, finance ministry and housing ministry to boost confidence have been consistent duds, falling far short of investor expectations. The Hang Seng Mainland Properties index fell 6.7% on Thursday after the housing ministry’s support for the real estate sector disappointed markets. Authorities have yet to quantify the extra fiscal spending, but analysts have said this might be announced at a standing committee meeting of the National People’s Congress, China’s rubber-stamp parliament, in the coming weeks.

And amusingly, just as Chinese and Hong Kong stocks slumped after the strong Chinese data (because they were not misses, taking away from the urgency to stimulate more), with the CSI 300 already into negative territory, the central bank stepped in yet again with what has now become a daily market-boosting gimmick, which today came in the form of a slew of headlines to show that more easing and support for markets lie ahead.

• *PBOC SAYS FIRST BATCH OF SFISF QUOTAS EXCEEDED 200 BILLION YUAN
• *PAN REITERATES PBOC MAY FURTHER LOWER RRR YEAR-END: CAILIAN

As a result, the CSI 300 is now up nearly 1%, although not even the algos buying Chinese stocks will be fooled for long and having seen this same old song and dance day after day, the selling will resume momentarily as traders indicate they no longer want words but demand actions.

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

FRANCE/AIRBUS

FRANCE is ready to tackle Musk as Musk leads the rocket race from both Boeing and Airbus

(zerohedge)

French Media Blames SpaceX For 2,500 Airbus Layoffs As Elon Musk Leads Rocket Race  

Friday, Oct 18, 2024 – 04:15 AM

Boeing was humiliated after NASA called up Elon Musk’s SpaceX for assistance in a future rescue mission to retrieve two stranded Starliner crew members at the International Space Station, slated for early 2025. SpaceX soared ahead of Boeing’s space program by lightyears, as Starship launches and Starlink deployments show, and is also outpacing Airbus’s space division. 

On Wednseday, Airbus announced its defense and space divisions would experience significant cuts, upwards of 2,500 workers over the next couple of years. 

Airbus Defence and Space is announcing plans to adapt the Division’s organisation and workforce in light of a continued complex business environment, especially in the Space Systems segment where significant financial charges were recorded in 2023 and 2024.

Intended measures will include creating a more effective and efficient organisational structure for the Division, especially with regard to headquartered functions, as well as a full operative end-to-end accountability for its business lines Air Power, Space Systems and Connected Intelligence.

It is expected that these measures will result in a reduction of up to 2,500 positions within Airbus Defence and Space until mid 2026.

As Boeing and now Airbus have found out, SpaceX has become the global leader in rocket launches and LEO satellite deployment, even beating out entire nation-states like China and Russia. 

Using data from BryceTech, SpaceX launched 525 spacecraft into orbit in the first quarter, far outpacing China and Russia. 

Musk is America’s rocket program: SpaceX launched about 429,125 kg of spacecraft upmass in the first quarter, significantly outpacing China’s rocket program (China Aerospace Science and Technology Corporation), which launched a measly 29,426 kg. 

Much of this is due to SpaceX’s Starlink deployment in LEO, as thousands of these satellites provide high-speed internet coverage to millions of customers worldwide. 

Just listen to this French media outlet blaming SpaceX for being so far ahead of Airbus as one of the main reasons for the layoffs in Europe. 

NEWS: Airbus announced today it plans to cut 2,500 jobs in its Defense and Space division – Specifically in the area of communication satellites.

Airbus says it has a lot of difficulty competing against @SpaceX which has far more advanced “space conquest” technology than Europe. pic.twitter.com/PLffiJay5o

— ALEX (@ajtourville) October 16, 2024

Stateside, Boeing is in rough shape after a months-long strike. It announced 10% job cuts one week ago and risks losing its prized investment-grade credit rating. Plus, there’s no future data on when the malfunctioning Starliner craft will fly next.

What’s outrageous is that the Biden-Harris administration and Democrats seem to be using lawfare against Elon Musk to deliberately slow down SpaceX’s rocket launches. By doing so, they’re allowing America’s competitive edge in the pace race provided by SpaceX, to narrow in favor of foreign adversaries. 

Just look what SpaceX achieved last weekend.

POV @SpaceX catching a rocket pic.twitter.com/cZvNj4UlDn

— Shaun Maguire (@shaunmmaguire) October 13, 2024

Mechazilla has caught the Super Heavy booster! pic.twitter.com/6R5YatSVJX

— SpaceX (@SpaceX) October 13, 2024

Americans need to ask the tough questions of why Democrats would want to undermine SpaceX—essentially America’s rocket program. Are these far-left radicals being influenced by foreign powers? 

END

GERMANY

“Absolute Hell” – German Teacher Describes Sexism, Bullying, & Racism In Predominately Migrant School

Friday, Oct 18, 2024 – 02:00 AM

Via Remix News,

In a harrowing interview, a long-time teacher in a predominately migrant school describes a “hellish” experience that involved “knife violence, bullying, and sexism.” Her testimony is laying bare the lie that diversity is always a strength, and her experience may help explain Germany’s plummeting PISA test scores and worsening educational outcomes.

Birgit Ebel has taught for 15 years at a “problem school,” where she says everyday life was an “absolute hell,” in her interview with Focus Magazine,

Ebel, who has since moved to a new school district, warns:

“The system is coming back to haunt us.”

Ebel does not beat around the bush and is not afraid to say that foreigners are the main cause of the chaos in the school she spent years in.

“At our comprehensive school, 80 to 90 percent of the students had a migrant background. Many come from predominantly Islamic countries such as Iraq, Syria, Turkey, Algeria, Bosnia, Chechnya, Afghanistan or Pakistan, but also from Russia and North Africa.” Ebel says among these students are also refugees who fled war and harsh Islamic rule.

She says the connection between immigration and Germany’s disintegrating school system cannot be denied, but says the view is controversial.

“In my view, the connection cannot be denied. But hardly anyone dares to say it openly,” she said.

The extreme violence she saw was “mainly the responsibility of migrant students, i.e., male adolescents,” she said. “It’s more about who can hit or kick the fastest. And then the others even celebrate you for it. Many do martial arts, and a toned body is the ultimate plus.”

She said stronger boys who can handle weapons like brass knuckles and knives are considered “masculine” and others look up to them. Ebel added that many of the students are armed with such weapons and that it is “normal.”

Despite claims that “diversity is a strength” from the left, this teacher, who actually works with true diversity, saw the other side of the equation.

“The conflict between Turks and Kurds or between Muslims and Yazidis is almost always present,” she warned.

She also noted that sexism is far different for both male and female teachers, with male teachers avoiding the worst of it, which is also a product of the culture many of the students come from.

“When students insult us or want to offend, they usually do so in sexualized, fecal language,” she warned.

She told Focus that she was routinely insulted with incredibly brutal language, including students saying: “You old whore’s daughter,” “I’ll fuck your head,” “whore,” “slut,” “cunt,” and threats like “I’ll give you AIDS,” while others told her, “Shut up, you Jewish whore!”

Ebel said many of her colleagues also experienced such abuse. Other students praised Hamas, which became especially intense after Ebel showed her support for Israel after the Oct. 7 attacks by Hamas.

She said that students would also play the race card, accusing her of being “racist” if she gave bad grades. In fact, parents also accused her of the same thing.

“Almost always the students played the racism card. And parents also joined in,” she said. In other cases, students have threatened to punch her for “insulting Islam,” including a student from Albania who barely spoke German. In that instance, she filed a criminal complaint but the investigation was dropped.

Ebel says that allegations of racism are “absurd,” as she is a member of the Kurdish community in Germany. She also belongs to an organization, the Society of Threatened Peoples, and has campaigned for human and women’s rights in Germany, especially in regard to Islamist movements, which she sees as being against these rights.

Although her experience sounds dire, violence and harassment in German schools are no longer uncommon in Germany. Last year alone, security authorities nationwide counted around 27,500 violent crimes such as knife attacks and assaults in schools, an increase of 27 percent compared to 2022. In Berlin, there are an average of five police operations every school day. However, those are just cases of outright violence. In terms of daily harassment, the numbers are far higher.

Ebel also provided a video to Focus Magazine she obtained that took place in her former school, which showed the brutal beating of one boy by four others, all while he screamed for help that never came. In fact, the beating took place directly in front of a teacher, who is seen fleeing the room. Ebel said that such violence was commonplace.

“I have experienced a systematic increase in violent behavior among children and young people, especially in the lower and middle grades,” she said.

Ebel also said a brawl between 20 students in the school saw five teachers try to enter the fight to break it up, with one pregnant colleague being punched in the stomach.

In 2011, her school was even nominated for the German School Prize; however, Ebel said that while the school was on the “right track” then, the educational environment has swiftly plummeted.

She also notes that the demographics in the school have rapidly shifted since that time.

“More and more poor people, parents without jobs, lack of German language skills, and so on. We were then considered a school for foreigners. The number of registrations fell drastically,” she said.

Other schools are seeing similar levels of violence, including the case of 17-year-old Sinan Y., who stabbed his vocational school teacher Sabine K. to death after she reprimanded him for aggressive behavior. She died in the classroom in front of her students. Her attacker then committed suicide while in custody.

As Remix News has previously reported, there are a record number of violent attacks in the Berlin school system, with the police being called five times per day on average to different schools.

Read more here…

END

EU/USA

If Trump wins we will see tariffs galore from the EU. Prices will escalate throughout the globe

(zerohedge)

Europe Prepares List Of US Goods It Will Target With Tariffs If Trump Wins

Friday, Oct 18, 2024 – 05:45 AM

With Trump inching ever closer to unleashing the “most beautiful word in the dictionary” on America’s trading partners – especially after tonight’s disastrous Kamala Harris interview with Bret Baier – the European Union is bracing for the worst and according to Bloomberg, has already prepared a list of American goods it could target with tariffs if the former president wins the US election and follows through on his threat to hit the bloc with punitive trade measures.

Citing “people familiar with the bloc’s thinking”, Bloomberg writes that new levies against US firms aren’t a base case for the EU and will only be used to retaliate against a move by the White House. In other words, a threat to Trump when, not if, he becomes president again. Which is a bold move for Brussels, let’s see how it pays off for them when Trump and Europe, so desperate to export its goods anywhere now that China no longer wants much of what Europe has to sell and which exports far more to the US than it imports, launch a tit-for-tat trade war.

Trump caught the EU by surprise in 2018 when he hit European steel and aluminum exports with tariffs. In that instance, the bloc targeted politically sensitive companies with retaliatory duties, including Harley-Davidson motorcycles and Levi Strauss jeans. Since Trump’s win in 2016, the EU has adopted several trade defense tools, including an instrument to respond to economic coercion. Unfortunately for Europe, in the years since, the continent has been flooded with cheap Chinese EV models which have crushed what little is left of the German economy (now that cheap Russian gas is a thing of the past), and has forced it to fight for its “manufacturing powerhouse” survival. Which is why any trade war with the US will only lead to an accelerated demise of what is already a continent barely hanging on.

Meanwhile, Trump is unlikely to be scared off by the threat of retaliatory tariffs: “to me, the most beautiful word in the dictionary is ‘tariffs,’ Trump said Tuesday in an interview with Bloomberg News Editor-in-Chief John Micklethwait, where he reiterated his desire to impose broad tariffs against trading partners post the election. “It’s my favorite word.”

Trump has said that as president, he would target countries like China with tariffs anywhere from 60% to 100%, with a 10% across-the-board tariff on imports from other countries. He could also impose counter-measures against European digital services taxes that implicitly go after US technology champions.

“Our allies have taken advantage of us. More so than our enemies,” Trump said. “Our allies are the European Union. We have a trade deficit of $300 billion with the European Union.”

The news is the latest development as the EU prepares an impact assessment of the consequences of the November ballot, paying particular attention to the scenario in which Trump emerges as victor. Regardless of who wins the election, trade relations with the US will be a top priority. In the event of a Harris win, the EU will seek to sort out several of the irritants left unsolved during Biden’s presidency such as a permanent deal to get rid of the remaining steel and aluminum tariffs, said the person.

Harris has cast Trump’s tariffs as a tax on American consumers, even though her senile, demented boss whom she overthrew in a quiet palace coup in July, has refused to drop any of them

Even though Biden’s rhetoric has been more conciliatory than Trump’s, and his alignment with the EU over Ukraine has helped to repair the transatlantic relationship, EU officials remain conscious that his trade policy still has much in common with his predecessor’s ‘America First’ approach. The Europeans were shaken, in particular, by Biden’s $390 billion-plus subsidy program to support green technology, which offers companies an incentive to shift investment from Europe to the US.

 

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/HEZBOLLAH/IRAN/HOUTHIS

Sinwar’s death will hurt Iran’s ‘axis of resistance’ – analysis

The elimination of Hamas leader Yahya Sinwar marks a significant setback for Iran’s regional strategy, potentially weakening the “axis of resistance” that has long threatened Israel’s security.

By SETH J. FRANTZMANOCTOBER 17, 2024 21:12Updated: OCTOBER 17, 2024 23:44

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The death of Hamas leader Yahya Sinwar is a serious blow to Iran and its “axis of resistance” in the region. The Islamic Republic has backed Hamas for many years. When Sinwar took charge, it was a major game-changer for Iran. Under Sinwar’s leadership and guidance over the past decade, Hamas has become a major terrorist group that carried out the worst massacre of Jews since the Holocaust.

Iran invested heavily in Sinwar’s Hamas. It helped it with long-range rocket technology and also encouraged it to develop drones and other new technology. The Gaza-based terrorist group also studied Israel carefully and likely had some Iranian guidance in this respect.

Hamas became a massive danger by 2023, much worse than it was back in the Second Intifada (2000-2005). This was a combination of Iranian backing and Sinwar’s dedication. With backing from Turkey, Qatar and Russia, Hamas felt that October 7 could change the region.

Iran worked with Hamas to knit it into its multi-front war on Israel. It wanted to have Hamas coordinate with Hezbollah and the Houthis. Iran would bring the Iraqi militias back to help against the Jewish state. This was a multi-front war that Tehran wanted to launch to sap Israel of its technological capabilities.

Sinwar pushed for this war to happen sooner. He innovated with the Great March of Return and other antics on the Gaza border. With Iranian backing, he launched the 2021 ten-day war. He and Iran learned a lot from this. What followed were meetings in Lebanon and talks about how to accelerate coordination.

Iran got Hezbollah to attack Israel on October 8, a day after the Hamas attack, and brought in the Houthis to attack as well. This was Iran’s game plan. Sinwar was a significant jewel in its crown in terms of Iran’s assets in the region and its “axis,” which includes the Houthis, Hezbollah, and the militias in Iraq.

Regional dynamics

It’s important to look at the regional blow that Iran has suffered now. It has lost Sinwar and Nasrallah. These were major figures in two powerful groups that have been harming Israel. For most of the year, Iran felt it was winning. It had helped massacre 1,000 Israelis. It had depopulated the northern border. It carried out direct attacks with drones and long-range ballistic missiles in April and early October. The militias in Iraq have also targeted Israel with drones. The Houthis have been wreaking havoc in the Red Sea – they even targeted Tel Aviv with a drone.

However, for Iran, it was Hamas that was the pawn closest to Israel. Palestinian Islamic Jihad is a smaller proxy group. Hamas is a powerful group and a key to Iran’s plans. Hezbollah is a Shi’ite group in Lebanon. It was Hamas that Iran hoped could advance the plans to defeat Israel and destroy the two-state solution.

Now that Sinwar is dead, Iran will have to rethink the equation. Qatar had been backing Hamas and paying money to Sinwar’s Hamas. Via Qatar, Tehran hoped that they could influence the US to pressure Israel into a ceasefire. Doha had tried to get a ceasefire to preserve Hamas in Gaza and preserve Sinwar.

But Israel turned the tables by eliminating Hamas leaders. Ismail Haniyeh was killed and so was Salah al-Arouri. Marwan Issa and Mohammed Dief were killed.

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Now Hamas has very few leaders. Most of them reside in Doha. Now is the time that the US can use pressure on Qatar to stop hosting Hamas. Iran is now on the back foot. It could lose in Lebanon; it could face humiliation at home. The death of Sinwar could cause other dominoes to fall in the Iranian multi-front war on Israel.

Israel must play its cards right now. It has a chance now to reverse a year of difficulty. It has a chance to remake this regional chess board. Removing the Sinwar pawn on Iran’s chessboard is important. Now is the time to take a shot at Iran’s proverbial “queen” in this game and strike at the regime itself.

END

Editor’s Notes: Let Hamas leave Gaza, bring the hostages home – Radical yet pragmatic

The world is watching, and Gaza is waiting for something—anything—different. Let’s take this chance to bring the hostages home and create a new Gaza, free from terror.

By ZVIKA KLEINOCTOBER 17, 2024 20:39Updated: OCTOBER 17, 2024 22:01

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Yahya Sinwar’s death is no ordinary battlefield win; it’s a defining moment. Sinwar, the mastermind behind the horrifying October 7 massacre, was responsible for the deaths of over 1,200 people and the capture of more than 250 hostages. He represented the absolute worst of Hamas: violent, relentless, and willing to sacrifice innocents without a second thought.

Now, with him reportedly gone, we find ourselves at a moment of both opportunity and chaos. We must now decide: Can we transform this tragic situation into something transformative?

A bold, new plan: Let Hamas walk

Here’s where things get interesting. There’s a proposal floating around in security circles that’s as radical as it is pragmatic: Offer Hamas and Islamic Jihad terrorists a chance to leave Gaza. Yes, you read that right. The idea is to allow these terrorists to exit the Strip under international supervision, potentially relocating them to places like Qatar, Turkey, or even Europe. In exchange, they release the remaining hostages.

Think of it as a 21st-century version of what happened with Yasser Arafat back in the 1980s, when he was exiled to Tunisia. On the surface, it might seem outrageous: Why let the enemy walk? But the reality is more complicated. This isn’t about letting terrorists off the hook; it’s about breaking the cycle of violence that has gripped Gaza for far too long. If we want peace, or at least a sliver of it, we might need to open some unusual doors.

Let’s be realistic: The status quo in Gaza is unsustainable. It’s a cauldron of terror, poverty, and hopelessness. With thousands – possibly tens of thousands – of Hamas fighters still holed up, there’s no end in sight to the endless rocket attacks and military strikes. If we give these terrorists an exit strategy, we could remove a massive obstacle to peace.

Gaza cannot rebuild as long as Hamas has its claws sunk deep inside it.

It sounds like a long shot, but it’s a pragmatic solution. Sure, it might seem counterintuitive to let terrorists leave alive, but sometimes you have to play the long game.

Now or never: Why timing matters

This moment of opportunity won’t last forever. Hamas is in disarray. Sinwar’s death leaves a significant leadership vacuum, providing Israel with its best opportunity to reshape the dynamics in Gaza. With Hamas weakened, the people of Gaza, many of whom have suffered under their rule as much as they have from the war, might finally have a shot at something better.

Are you listening, US President Joe Biden? This could be your moment. Before ending your term, you have a unique opportunity to broker a deal that would not only bring the hostages home but also dismantle Hamas’s grip on Gaza.

This could also help Vice President Kamala Harris win the election. Talk about a foreign policy win!

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Israel, for its part, can’t afford to sit on its hands. After years of bloodshed and untold resources spent, this could be the moment that fundamentally shifts the status quo. The IDF has done its part by delivering the military blows. Now it’s time for diplomacy to seal the deal.

Gaza’s future without Hamas

Let’s talk about the future because for Gaza, a future without Hamas is the only one worth envisioning. If these terrorists leave, we can start the important work of rebuilding Gaza into something more than a war zone. The Strip could finally become a functioning society rather than a factory for terror.

Of course, this is easier said than done. Rebuilding Gaza will take international support, massive investments, and, perhaps hardest of all, a new leadership that’s more interested in schools than rocket launchers. The moderate Sunni states, which have mostly stayed on the sidelines, might finally step up and help fill the void.

Countries like Saudi Arabia, Egypt, and Jordan could lend the political and economic support necessary to foster a stable, functioning Gaza. The international community, led by the US and EU, will need to provide serious diplomatic and financial backing. Gaza doesn’t need to be another terror state; it can be a place where people actually live, work, and thrive.

I’m not naive. This isn’t a cakewalk. Convincing the people of Gaza, who have lived under Hamas’s brutal regime, to trust a new leadership will be no small task. And what about the terrorists who refuse to leave? There will always be those who would rather go down fighting, and Israel needs to be ready for that.

But let’s be honest: the alternative – doing nothing – leaves us exactly where we are now: in an endless loop of rockets, airstrikes, and shattered lives. We’ve seen this movie before, and we know how it ends.

Israel must remain vigilant. Eliminating Hamas’s leadership was a huge win, but the threat isn’t over. The IDF must remain prepared to neutralize whatever remains of the Hamas infrastructure.

We’re standing at a historic crossroads. Sinwar’s death could either lead us into another spiral of violence or open the door to something new – a future where Gaza isn’t ruled by terror but by hope. The choice is ours.

For years, we’ve been stuck in the same cycle, watching Gaza descend further into chaos. But today, we have an opportunity to break that cycle. We can bring the hostages home, dismantle Hamas, and give the people of Gaza a chance at a future worth fighting for.

Let’s not waste this moment. The world is watching, and Gaza is waiting for something – anything – different. Let’s take this chance to bring the hostages home and create a new Gaza, free from terror and open to the possibility of peace. If not now, when?

END

ISRAEL/HEZBOLLAH

IDF announces five killed, nine wounded in combat in southern Lebanon

The IDF announced on Thursday evening that five soldiers fell during combat in southern Lebanon.

By JERUSALEM POST STAFFOCTOBER 17, 2024 21:17Updated: OCTOBER 17, 2024 23:49

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The IDF announced on Thursday evening that five soldiers fell during combat in southern Lebanon.

Maj. Ofek Bachar, aged 24, from Ness Ziona, a Company Commander from the Golani Reconnaissance Unit; Capt. Elad Siman Tov, aged 23, from Tzofim, a Platoon Commander from the Golani Reconnaissance Unit; St.-Sgt. Elyashiv Eitan Wieder, aged 22, from Jerusalem, a Squad Commander from the Golani Reconnaissance Unit; St.-Sgt. Yakov Hillel, aged 21, from Jerusalem, a soldier from the Golani Reconnaissance Unit; and St.-Sgt. Yehudah Dror Yahalom, aged 21, from Hebron, a soldier from the Golani Reconnaissance Unit, fell during combat in southern Lebanon, the IDF announced on Thursday.

In the incident where the five soldiers fell, an officer and two additional soldiers from the Golani Reconnaissance Unit were severely injured. 

The IDF began limited ground operations in Lebanon earlier this month to combat the Hezbollah terror group, which has continually attacked northern Israel since October 8 – a day after Hamas’s massacre on southern Israel.

Soldiers wounded in Lebanon

The soldiers were evacuated to a hospital and their families have been notified.

In the Gaza Strip, a soldier from the 450th (Squad-Commander Training) Battalion, Bislach Brigade, was severely injured yesterday (Wednesday) during combat in southern Gaza.

In southern Lebanon, a soldier from the 12th Battalion, Golani Brigade, was severely injured yesterday (Wednesday) during combat in southern Lebanon.

Additionally, an reservist officer and two reservist soldiers from the 8173rd Battalion, 6th Brigade, Combat Engineering Corps, and a reservist soldier from the 8173rd Battalion, 6th Brigade, Logistics Corps, were severely injured today (Thursday) during combat in southern Lebanon. 

The soldiers were evacuated to a hospital for further treatment, their families have been notified.

In total, nine soldiers have been severely injured. 

ISRAEL/HEZBOLLAH/FRIDAY MORNING

IDF strikes Hezbollah command center, raids tunnels in southern Lebanon

Hezbollah’s regional command center, which was used to launch numerous attacks on northern Israeli communities, was destroyed by the IDF in an aerial strike. 

By JERUSALEM POST STAFFOCTOBER 18, 2024 15:36

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-825129&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20241017_4b4db6e9ab199f705bebfff30b5370e81ce3dae9&useBunnyCDN=0&themeId=140&unitType=tts-player

The 188th Brigade continued to operate in southern Lebanon under the command of the 36th Division, where soldiers destroyed weapons storage facilities, several tunnel shafts, terror infrastructure, and weapons, the military announced on Friday afternoon. 

In recent days, combat engineering troops from the brigade located an underground tunnel route connecting two underground tunnel shafts in the area. The tunnel contained long-term hideout equipment, weapons, and documents used by Hezbollah terrorists. 

IDF soldiers, in coordination with the Northern Command’s engineering unit, sealed and decommissioned the tunnel shafts, the IDF said. 

Additionally, Hezbollah’s regional command center, which was used to launch numerous attacks on northern Israeli communities, was destroyed by the IDF in an aerial strike. 

As a result, four terrorists present in the command center were eliminated, the IDF reported. 

END

ISRAEL JORDAN/

THIS IS RARE!

Terrorists from Jordan wound two near Dead Sea, Hamas’s Sinwar killed by IDF

US to kickstart Gaza ceasefire talks • Five IDF soldiers killed in Lebanon • Netanyahu calls to free Gaza hostages

By JERUSALEM POST STAFF

Two soldiers wounded in terror shooting at dead sea, attacker killed

The military said IDF troops killed two terrorists who crossed into Israeli territory from Jordan in the area of the Dead Sea.

By JERUSALEM POST STAFFOCTOBER 18, 2024 11:11Updated: OCTOBER 18, 2024 15:31

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An IDF soldier and reservist were lightly and moderately wounded following an exchange of fire with terrorists who crossed into Israel from Jordan near Neot Kikar in the Dead Sea area, the military said on Friday. 

The two were transferred to the hospital for further medical treatment. 

The military said IDF troops killed two terrorists who infiltrated Israeli territory near the Jordanian border while ground and aerial searches were underway for an additional terrorist who had probably fled the scene. 

The terrorists were identified by IDF observers who dispatched troops to the area, the IDF noted. 

Earlier, the military said that having identified terrorists infiltrating Israeli territory, troops were expedited to the area.

Two terrorists who opened fire at the soldiers were subsequently killed, the IDF said.

This is a developing story.

ISRAEL/IRAN

Iran: Sinwar ‘will become a role model for youth, children’ in fight for ‘Palestinian liberation’

“As long as occupation and aggression exist, resistance will endure, for the martyr remains alive and a source of inspiration,”

By JERUSALEM POST STAFFOCTOBER 18, 2024 03:47Updated: OCTOBER 18, 2024 08:59

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The Iranian mission to the United Nations has warned that Israel’s killing of Hamas leader Yahya Sinwar will serve to “strengthen” the “spirit of resistance” of the Palestinian population against Israel. 

The mission highlighted that Sinwar “will become a role model for the youth and children who will follow his path towards the liberation of Palestine.” 

It further stated that “as long as occupation and aggression exist, resistance will endure, for the martyr remains alive and a source of inspiration,” emphasizing Sinwar’s role as a model for future generations. 

The Iranian mission emphasized that when Muslims see Yahya Sinwar “standing on the battlefield, in combat attire and outdoors, not hidden, confronting the enemy,” their “spirit of resistance” will be “strengthened.”

The IDF announced that it had killed Sinwar, the leader of the Hamas terrorist organization, in an operation in the southern Gaza Strip. The Israeli military stated that after a year-long hunt, troops had on Wednesday “eliminated Yahya Sinwar, the leader of the Hamas terrorist organization, in an operation in the southern Gaza Strip.” 

‘Evil has suffered a heavy blow’

Israel called Sinwar’s death a “heavy blow” to Hamas, the Palestinian group it has been fighting for more than a year. 

Prime Minister Benjamin Netanyahu, who vowed to crush Hamas at the start of the war, hailed Sinwar’s killing. Netanyahu stated, “It is not the end of the war in Gaza; it is the beginning of the end,” while calling the killing of Sinwar an “important landmark in the decline of the evil rule of Hamas.” He also declared, “Today, evil has suffered a heavy blow.”

Yahya Sinwar was the chief of Hamas in Gaza at the time of the October 7 attack and is considered by Israel to be the mastermind of those attacks, in which over 1,200 people were killed and another 250 were taken hostages. The October 7 attacks made Yahya Sinwar the most wanted man by Israel. 

END

ISRAEL /HAMAS/EDITORIAL

With Sinwar gone, Israel’s next move must be decisive – editorial

Sukkot started off with a bang – and one that is certainly cause for celebration. The IDF, after years of trying, has finally managed to find and kill Sinwar.

By JPOST EDITORIALOCTOBER 18, 2024 06:00Updated: OCTOBER 18, 2024 08:11

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The holiday of Sukkot is a joy – so much so that it is even known as Zman Simchateinu, the time of our celebration. Last year, Sukkot’s conclusion was immediately marked by the October 7 massacre, one of the most harrowing events in Israeli history. Twelve hundred people were murdered, hundreds more taken hostage, and tens of thousands forced to flee their homes, becoming refugees in their own country.

A number of people were responsible for plotting this massacre, with blame falling on a specific cadre of leaders in Hamas, as well as their supportive allies in Hezbollah, Iran, and the Houthis. Chief among these figures was Yahya Sinwar, the leader of Hamas in Gaza and, eventually, the overall leader of the terrorist organization.

But this year, Sukkot started off with a bang – and one that is certainly cause for celebration. The IDF, after years of trying, has finally managed to find and kill Sinwar.

To underscore just how big of a deal this is, keep in mind that since October 7, 2023, wiping out the leadership of Hamas and Hezbollah became arguably Israel’s most important war goals. To eliminate the threat to Israeli citizens; to make sure the war could end; to bring the hostages home; and to return the tens of thousands of evacuees back to their homes, it was argued, Hamas and Hezbollah would need to be dealt with, battered to the point where they could never again pose a threat to the Jewish state.

Early on in the war, this seemed like a pipe dream. Hamas’s political leadership under Ismail Haniyeh and Saleh al-Arouri, living abroad, seemed untouchable. Other top Hamas officials in Gaza like Sinwar, Mohammed Deif, and Marwan Issa had evaded all attempts at capture or assassination for years. Hezbollah leader Hassan Nasrallah and other top officials also seemed secure in Lebanon, protected in secure bunkers and shielded by political legitimacy and the security of sovereign territory.

But this was no pipe dream.

It took a lot of time, and it resulted in a lot of casualties on all sides. But one by one, those elusive terrorist masterminds went down. First Issa, then Deif. Haniyeh’s death soon followed, killed in the beating heart of Iran. And then finally, the infamous Nasrallah met his end – as did a huge swathe of the Hezbollah leadership.

Sinwar soon became the last man standing, hiding out in Gaza. Since Israel freed him in the Gilad Schalit prisoner swap deal in 2011, he rose in power and influence, eventually becoming the organization’s Gaza chief, a position rivalled only by Haniyeh.

When Haniyeh was killed, Sinwar ascended to total leadership of Hamas: the sole head on the snake. And now that head has been cut off.

Hamas and Hezbollah have both suffered heavy losses over the last year, but Israel did what many thought was impossible and took down those responsible for October 7. At long last, all the ringleaders are down and out – for good.

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Decisions will need to be made about what to do next, and this war is still not over. Hezbollah remains a well-armed threat against Israel and continues to regularly fire rockets, drones, and missiles into the Jewish state. Hamas still has men under arms and rockets at their disposal, and 101 hostages still remain in their possession. The Houthis in Yemen are still a threat that could strike at any moment, boasting an arsenal of ballistic missiles and drones, and their leadership remains intact. And then there is the ever-looming threat of Iran, a well-equipped nation who backs all the aforementioned actors and hosts a formidably large army of its own.

What’s next?

So what comes next? Will Israel be able to start returning evacuees to their homes? Will they press for another hostage deal on favorable terms? Will the IDF turn its focus to Iran or the Houthis?

Those questions will need to be answered very soon, and it remains to be seen how Israel’s allies such as the US will want the Jewish state to proceed. But for now, we can take solace in the fact that at the very least, Israel’s archenemy over the past year is dead, and that some measure of justice has been achieved for all the people who have lost and suffered since October 7. Zman simchateinu indeed.

END

ISRAEL/HEZBOLLAH/IRAN

Lebanon PM rejects Iranian interference in Lebanese matters after Tehran offers to negotiate on UN Resolution 1701

By Reuters

Lebanon’s caretaker Prime Minister Najib Mikati says that he rejects Iranian interference in a Lebanese matter after Iran’s parliament speaker said his country was ready to negotiate with France on UN Resolution 1701.

The resolution, adopted in 2006, following the end of the Second Lebanon War, calls for the Iran-backed Hezbollah terror group to retreat north of the Litani River, and for the border area of southern Lebanon to be free of weapons or troops other than those of the Lebanese state.

END

LAST NIGHT’S NEWS

Netanyahu to convene security meeting to discuss hostage deal efforts in light of Sinwar’s death

Prime Minister Benjamin Netanyahu will convene a special security meeting with the participation of government ministers and security officials at the Kirya military headquarters in Tel Aviv later today following the death of Hamas leader Yahya Sinwar, according to Hebrew media reports.

The meeting will focus on the possibility of progress in hostage deal negotiations in light of his death, reports .

Katz lambastes UN chief for ‘extreme anti-Israel, anti-Jewish agenda’ over silence on Sinwar’s death

Foreign Minister Israel Katz lambastes UN Secretary-General Antonio Guterres for remaining silent following the killing of Hamas leader Yahya Sinwar, and accuses him of promoting an “extreme anti-Israel and anti-Jewish agenda.”

Guterres “did not welcome the elimination of arch-terrorist Yahya Sinwar, just as he refused to declare Hamas a terrorist organization after the October 7th massacre,” Katz writes on X.

He adds that the foreign ministry will “continue to designate him as a persona non grata and bar his entry into Israel.”

UN Secretary-General @antonioguterres did not welcome the elimination of arch-terrorist Yahya Sinwar, just as he refused to declare Hamas a terrorist organization after the October 7th massacre. Guterres is leading an extreme anti-Israel and anti-Jewish agenda. We will continue… pic.twitter.com/Twg1O67NRp

— ישראל כ”ץ Israel Katz (@Israel_katz) October 18, 2024

East Jerusalem resident arrested on suspicion of planning terror attack against hostage families

A resident of East Jerusalem has been arrested after he was found to be planning a terror attack against families of the hostages, the Israel Police and Shin Bet say.

In a joint statement, they say that the suspect, a 22-year-old from Sheikh Jarrah, had been planning to attack civilians at one of the weekly Tel Aviv rallies in support of the hostages as an act of revenge for the ongoing war between Israel and Hamas in Gaza.

According to the security forces, the suspect had attempted to make contact with Hamas operatives in the West Bank and with the Jenin Brigades terror group to assist him with planning the attack and acquiring the necessary weapons.

The investigation into the suspect was launched last month by the Shin Bet and Israel Police Jerusalem division and an indictment is expected later today

IDF says Givati Brigade troops joined operations in northern Gaza’s Jabaliya overnight

IDF troops are seen operating in Gaza in an image cleared for publication by the military on October 18, 2024. (Israel Defense Forces)

The military says that troops of the IDF’s Givati Brigade joined the 162nd Division in the Jabaliya area of northern Gaza overnight as part of the renewed ground operation.

It says that dozens of terror operatives were eliminated in fighting and airstrikes across northern Gaza over the last day, while in central Gaza, troops of the 252nd Division targeted a building that had been used by Hamas operatives.

https://twitter.com/idfonline/status/184713666711665498

IDF says Hezbollah commander in Taybeh area of southern Lebanon killed in airstrike

IDF troops are seen operating in southern Lebanon in an image cleared for publication by the military on October 18, 2024. (Israel Defense Forces)

The military says that it killed the commander of Hezbollah’s Taybeh compound Mohammad Hussein Ramal in an airstrike in southern Lebanon.

The IDF says Ramal was responsible for planning and carrying out terror activities against Israel and was killed in the airstrike directed by troops of the 98th Division.

At the same time, troops of the 7th Armored Brigade located and destroyed several rocket launchers primed for launch toward northern Israel, the military says.

It adds that troops of the 36th and 91st divisions have uncovered weapons belonging to Hezbollah during operations against the terror group in southern Lebanon, including sniper rifles, anti-tank missile launchers, and Burkan-type missiles, which it says were “ready for use” and aimed at Israel’s territory.

The military statement adds that the Israeli Air Force also acted against a terrorist cell in southern Lebanon that was preparing to fire an anti-tank missile at troops operating on the ground.

END

ISRAEL/HAMAS

Hamas Vows To Intensify Gaza Fight After ‘Fallen Martyr’ Sinwar’s Killing, As Biden Urges Ceasefire

Friday, Oct 18, 2024 – 10:30 AM

Hamas on Friday has issued official confirmation that Hamas chief Yahya Sinwar was killed by Israeli forces in southern Gaza. Spokesman and Gaza head Khalil Hayya announced in a televised address that Sinwar has become a “fallen martyr”. 

Calling him “steadfast, brave and intrepid,” Hayya asserted that Sinwar “sacrificed his life to the cause of our liberation.” Israeli authorities had killed him by likely tank fire on a residential building in Rafah, and quickly examined his body, confirming his identify through dental and DNA records (Sinwar had previously spent years in Israeli prison).

“He met his end standing brave, with his head held high, holding his firearm, firing until the last breath, until the last moment of his life,” the Hamas official said, emphasizing that he died in combat. It appears his death happened Wednesday and the Israelis came upon his body amid the rubble on Thursday.

Hayya continued to eulogize the slain Hamas leader in Gaza as follows: “[Sinwar] has lived his whole life as a holy fighter. Since his early days, he was engaged in his struggle as a resistant fighter. He stood defiant behind Israeli bars and after his release in a swapped deal, he continued with his struggle and his dedication to the cause.”

Hayya also described of Sinwar’s “martyrdom” after other leaders which preceded him that this “will only increase the strength and resilience of our movement.”

Amid ongoing speculation that Sinwar’s death could lead to a quick ceasefire and return of the Israeli hostages, Hamas appears to be slamming the door on this prospect. Hayya vowed that the group will continue to fight for the establishment of a Palestinian state.

“The occupation prisoners will not return unless the aggression on Gaza stops, there is a complete withdrawal from [Gaza], and our prisoners are released from the prisons,” Hayya declared. “Hamas will continue until the establishment of the Palestinian state on all Palestinian soil with Jerusalem as its capital.”

A separate statement from Al-Qassam Brigades said the same concerning Sinwar’s death. It called anyone who thinks this is the end of the resistance movement “delusional” while proclaiming “martyrdom” as the “highest aspiration” of Hamas leaders. 

The statement essentially vowed that many more Hamas militants will step into the fight. “It [martyrdom] burns the aggressors, and our leaders have left behind hundreds of thousands of mujahideen from our people and nation who are determined to fight the Zionist occupation until Palestine and the Al-Aqsa Mosque are cleansed of its defilement and swept away from our land, God willing,” Al-Qassem Brigades said.

Meanwhile, European and US leaders in the aftermath of Sinwar’s killing expressed home for a speedy ceasefire.  “With the death of the Hamas leader Sinwar… hopefully the concrete prospect will now open up for a ceasefire and an agreement to release the hostages in Gaza,” German Chancellor Olaf Scholz said Friday during a visit by US President Joe Biden.

Yahya Sinwar went out fighting. Dressed in fatigues, his right arm severed, he flung a stick defiantly at the Israel drone filming him. He had submitted to his fate from the moment he unleashed the flood. This video practically ensures the tide will rise. pic.twitter.com/B6ttzPMHJT

— Max Blumenthal (@MaxBlumenthal) October 17, 2024

As for Biden, he said this was a “moment of justice” and “an opportunity to seek a path to peace” in Gaza. He stressed the Sinwar had “the blood of Americans and Israelis, Palestinians and Germans and so many others on his hands.”

However, later in the morning White House national security official John Kirby told Axios, “We are not in a situation now where there are serious negotiations on a hostage deal.”

Meanwhile more information has been revealed about Sinwar’s final stand as Israeli forces closed in. While reports say the IDF was pursuing intelligence which generally placed some senior Hamas leaders in the area of Rafah where Sinwar was found, his being there came as a surprise.

The Wall Street Journal details the following:

The moment that changed the war in Gaza came around 3 p.m. when the trainees searching for Hamas tunnels in the southern city of Rafah saw three armed men leaving a building.

The soldiers opened fire. One of the men fled into a nearby building. Soldiers sent a reconnaissance drone in after him. The video feed showed the militant wounded and alone, sitting in a chair.

The IDF released the drone footage of this moment, showing Sinwar with a severed arm defiantly hurling the piece of wood at the drone, with a keffiyeh around his face.

Some analysts have expressed surprise that the video was released, given that instead of showing a Hamas leader cowered and in hiding – Sinwar appeared to essentially be on the front line and personally engaged in the firefight. Some Israeli reports said he had hurled two grenades at Israeli soldiers who tried to close in on foot. Will Sinwar’s killing only intensify Hamas’ resolve, and delay any chance of ceasefire?

IDF released footage showing the moment a tank shell was fired on the building where Yahya Sinwar was killed. #Gaza pic.twitter.com/Y2hgYo706m

— FJ (@Natsecjeff) October 18, 2024

The WSJ continues of the account:

In a final act of defiance, the man hurled a chunk of wood at the drone, before the soldiers opened fire again—and the house collapsed on him.

It wasn’t until the next morning, when other soldiers returned to sift through the rubble, that they noticed a resemblance between the dead militant and Sinwar, the Middle East’s most wanted man.

“We operated a lot of fire, a lot of artillery,” a soldier involved in Wednesday’s operation, whose name wasn’t disclosed, told Israel’s Channel 12 news. “When we heard he was killed, we joked around saying, ‘How crazy would it be if it was us?’” 

To be expected, Iran has seized on this theme portraying Sinwar as a ‘martyr’ who fought bravely till the end. Iran’s foreign minister Abbas Araghchi wrote on X that he “bravely fought to the very end on the battlefield” and that he “did not fear death but sought martyrdom in Gaza.”

Araghchi hailed Sinwar’s death as a “source of inspiration for resistance fighters across the region, Palestinian and non-Palestinian,” emphasizing that “We, and countless others around the world, salute his selfless struggle for liberation of the Palestinian people.”

Given all of this rhetoric, it doesn’t seem the war in Gaza will wind down any time soon. Some analysts have also pointed out that Sinwar had been in charge of negotiations from Hamas’ side, and that his death greatly complicates the possibility of even restarting Doha-Cairo talks.

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/ISRAEL/GAZA

‘I cheered when they came and told me’: Gazans celebrate elimination of Yahya Sinwar

Hamas has long been accused of crushing dissent in Gaza with beatings or worse. But recent months have seen some rare public displays of dissent.

By AVI ASHKENAZI, REUTERSOCTOBER 18, 2024 18:42Updated: OCTOBER 18, 2024 18:55

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IDF Arabic spokesperson, Colonel Avichay Adraee, shared a recording on his X/Twitter account on Friday of a conversation between two Gaza residents that reveals their joy following the death of Hamas leader Yahya Sinwar.

Sinwar was killed by the IDF in Tel Sultan in Rafah on Wednesday in an unplanned operation, sources close to the matter confirmed to The Jerusalem Post Thursday evening, several hours after rumors arose that he had been killed earlier Thursday.

“How are you? Well, Sinwar is dead and gone,” a man says, to which a woman replies, “May he go to hell! I swear I cheered when they came and told me.”

The man continues, “May God have mercy on him; what do you want from him?” She responds, “He’s the one who destroyed everything. May God not have mercy on him, not on him, and not on Haniyeh. I hope they never see God’s mercy.”

#خاص مكالمة من داخل غزة: ״هاي السنوار إستشهد وراح | والله قضيتها أزغلط لما إجو قالولي | صاروا يوزعوا حلو وقهوة"

فرحة غير مسبوقة في شوارع #غزة بعد سماع خبر تصفية المدعو #يحيى_السنوار. المكالمة بين اثنين من سكان غزة تعبّر عن المشاعر الحقيقية: من الزغاريد وتوزيع الحلوى إلى… pic.twitter.com/pq6yYNROHD

— افيخاي ادرعي (@AvichayAdraee) October 18, 2024

Later in the conversation, when the man asks, “What’s new with you?” she responds, “We’re fine, thank God. They started handing out sweets here…” and adds, “They’ve started distributing sweets and coffee. May God have no mercy for what happened in Gaza, may God have no mercy.”

What do Gazans think about Hamas?

An opinion poll published in mid-September by the Palestinian Center for Policy and Survey Research (PSR), a think tank based in Ramallah and funded by Western donors, showed for the first time the majority of Gazans opposed the decision to attack Israel on October 7. 

The poll, conducted in early September, found that 57% of people surveyed in the Gaza Strip said the decision to launch the offensive was incorrect, while just 39% said it was correct – down sharply from the previous poll in June.

Hamas has long been accused of crushing dissent in Gaza with beatings or worse. But recent months have seen some rare public displays of dissent.

Signs of dissent matter to Hamas, which aims to maintain its sway in Gaza once the war ends, despite the insistence of Israel and the United States that it can play no part in governing the enclave after the war.

END

ISRAEL/HAMAS

Israeli officials believe Yahya Sinwar’s brother Mohammed will replace him – report

Muhammad Sinwar’s familial ties to his older brother, Yahya Sinwar, cemented his status within both Israel’s security apparatus and the terror organization. 

By AMIR BOHBOTOCTOBER 18, 2024 15:23Updated: OCTOBER 18, 2024 17:43

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Security officials believe that Mohammad Sinwar will be appointed as the new Hamas leader, while Khalil al-Hayya, Yahya Sinwar’s deputy, will take on political responsibilities. 

Mohammad Sinwar, the younger brother of the notorious terrorist Yahya Sinwar, was born in 1975 in the Khan Yunis refugee camp. His family fled a village near Ashkelon in 1948, settling in the southern Gaza Strip. Fueled by deep-seated hatred towards Israel, the Sinwar brothers became deeply involved in subversive activities against Israel, reaching their peak with the horrific October 7 attacks on southern Israel and the beginning of the Israel-Hamas War. 

Mohammad Sinwar’s familial ties to his older brother, Yahya Sinwar, cemented his status within both Israel’s security apparatus and the terror organization. 

“From the beginning of his career in Hamas, Mohammad worked alongside senior commanders, breathing and living pure terrorism,” a senior security official who has tracked Mohammad Sinwar since his youth said. 

“Initially, he gained influence because of his family ties, but it didn’t take long for his operational abilities, cruelty, interpersonal skills, and understanding of military strategy to be recognized,” he added.

“Working with senior leaders, along with the fact that his brother was imprisoned in Israel, sharpened his central goal: to carry out kidnappings that would lead to his brother’s release, as well as other security prisoners, rather than attacks aimed solely at killing.”

Who is Mohammad Sinwar?

A former security official familiar with Gaza’s intelligence landscape during those years mentioned that while it was not widely publicized, more targeted killings were attempted against Mohammad Sinwar than any other senior Hamas figure before the war began. 

“Mohammad Sinwar was not only pivotal in the military development of Hamas, evolving from the Izz ad-Din al-Qassam Brigades to the military wing and eventually a full-fledged army, but he also played a leading and influential role in several phases of the process. It’s no coincidence that his house has been destroyed several times in the past two decades. The operations to eliminate him were almost fantastical in scope, but they failed,” the former security official explained.

Mohammad Sinwar was one of the masterminds behind the 2006 kidnapping of Gilad Shalit while his brother Yahya Sinwar was imprisoned in Israel. Senior Hamas leaders and top officials in Israel’s security establishment were well aware that Yahya Sinwar would be released in the Shalit deal, largely due to Mohammad Sinwar’s involvement in the operation.

END

end

ISRAEL/HEZBOLLAH UPDATES FRIDAY AFTERNOON

‘Around 1,500 Hezbollah terrorists killed,’ Halevi tells IDF soldiers in southern Lebanon

“An entire chain of command is being wiped out, Hezbollah is hiding dead commanders,” Halevi said. 

By JERUSALEM POST STAFFOCTOBER 18, 2024 17:43

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IDF Chief of Staff Herzi Halevi conducted a situational assessment with commanders from the Golani Brigade in southern Lebanon on Friday, the military reported. 

Halevi told commanders, “We estimate that around 1,500 Hezbollah operatives are dead, and the fact that they are surrendering is an important achievement.” 

“We are very determined to hit Hezbollah as hard as possible and look, we have taken away the entire senior command layer, we have taken away the entire local command layer…it is shrinking.”

“An entire chain of command is being wiped out, Hezbollah is hiding dead commanders,” Halevi said. 

The IDF Chief of Staff attended a field tour with soldiers from Golani and the 188th Brigade operating in southern Lebanon, and held an assessment with the Northern Command chief, commander of the 36th Division, and other senior commanders.

Earlier, The IDF announced that it has decided to call up an additional reserve brigade for combat on the northern front, signaling an extension of the war against Hezbollah in the North. 

The IDF added that the decision had been made following a situation assessment. 

This move “will enable the continuation of combat efforts against the Hezbollah terrorist organization and the achievement of the goals of the war, including the safe return of the residents of northern Israel to their homes,” the military further noted. 

END

RUSSIA/CHINA USA/IRAN/ISRAEL

Russia Issues Forceful Warning Against Planned Israeli Strike On Iran

Thursday, Oct 17, 2024 – 03:45 PM

Israeli security sources have told ABC News and CNN that Prime Minister Benjamin Netanyahu has approved a set of targets for retaliation strikes on Iran, considered imminent, following the Oct.1 major Iranian ballistic missile attack on Israel.

Still, no timeline has been given—only that the attack is expected to be carried out before November 5th, election day in America. “American officials expect Israel will retaliate against this month’s Iranian attack before November 5, sources tell CNN — a timeline that would thrust the growing volatility in the Middle East squarely into public view within days of the US presidential election,” CNN has written. Russia and China are among the lone global voices urging against any new attack or escalation from Israel.

Beijing’s concerns were conveyed in a call between the Chinese and Israeli foreign ministers early this week. The Chinese side also condemned attacks on the United Nations Interim Force in Lebanon (UNIFIL), following reports that the IDF wounded two of the UN peace keepers. China repeated its stance of wanting to see an immediate, complete and permanent cease-fire in Gaza.

But amid reports that Israel’s expected attack on Iran could come at any moment, Russia has been the most forceful in its new warnings.

On Thursday Deputy Foreign Minister Sergey Ryabkov conveyed Russia’s position that Israel must not even think about hitting Iran’s nuclear energy sites or infrastructure.

He said that any “hypothetical” Israeli attack on Iran’s nuclear facilities would be “catastrophic” – as quoted in TASS.

“We have repeatedly warned and continue to warn, to caution [Israel] against even hypothetically considering the possibility of a strike on nuclear facilities and nuclear infrastructure [of Iran],” Ryabkov said. “This would be a catastrophic development and a complete negation of those postulates in the area of ​​ensuring nuclear safety that exist.”

Netanyahu has reportedly told the White House that Israel will commit to attacking only Iranian military sites; however, reports out of Israel continue to suggest that all options remain on the table.

Russia and Iran have of late deepened their relationship on the economic and military fronts. The West has even accused Tehran of transferring ballistic missiles to Russia for its war in Ukraine – something which Iranian and Russian officials have denied. 

But the US and EU have still used the accusation to slap new sanctions on top Iranian and defense sector officials. Additionally the sanctions “target companies and individuals accused of being involved in the transfer of the weapons to Russia, including the country’s flagship carrier Iran Air, as well as airlines Saha Airlines and Mahan Air.”

END

UKRAINE/RUSSIA/MOLDOVA

19 Ukrainians Arrested At Moldovan Border As Men Continue To Flee Conscription

Friday, Oct 18, 2024 – 03:30 AM

Authored by Liz Heflin via Remix News,

Desertion is rampant in Ukraine, and attempts to escape military service continue to be a major issue for Ukraine’s armed forces, reports Do Rzeczy. 

“Ukrainians who do not want to go to war are looking for various ways to avoid conscription. Border guards near the border with Moldova detained two groups of men who tried to escape from Ukraine. They received administrative notices of having committed a crime,” the State Border Guard Service of Ukraine reported.

Officers detained two groups, consisting of eight and 11 men. In order to flee the country, they had paid $3,000 to $5,000 for online instructions from an organizer via the Telegram channel, which had them split into two groups to be more mobile and less conspicuous. 

The men have been written up for attempting to illegally cross the state border of Ukraine.

This is not the first such situation.

On Sept. 6, border guards from the Volyn detachment detained two men who intended to illegally cross the state border, and on Sept. 7, four fugitives were detained in Zakarpattia who had been hiking in the mountains for five days and wanted to cross the Tisza River.

Meanwhile, in the Rivne Region, fugitives who tried to get to Belarus almost ran into mines.

Ukraine is now instituting a new law, whereby parliament has banned the mobilization of men under the age of 25. Support for the change was high, and the law is now on President Zelensky’s desk to be signed.

The act prevents the mobilization of people aged 18-25 who have not completed military service or studied at military universities but fall under the status of so-called “limited usefulness.” This means a person who is not suitable for military service in times of peace due to their health condition but can be called up for service during war.

Another law, however, was passed back in April, whereby a soldier can no longer decide to end his service after 36 months, as had previously been allowed.

Read more here…

END

RUSSIA/UKRAINE/IRAN/USA

The US Fears An Uncontrollable Escalation Sequence With Russia Much More Than With Iran

Thursday, Oct 17, 2024 – 11:25 PM

Authored by Andrew Korybko via Substack,

Politico cited a senior Senate aid and two sources in the Biden Administration to report on Wednesday that the US is much more afraid of an uncontrollable escalation sequence with Russia than with Iran due to the first’s nuclear capabilities.

As proof of this, the US has no qualms about shooting down Iranian missiles launched against Israel but won’t consider shooting down Russian ones launched against Ukraine, which has upset Zelensky and some of his compatriots who thus feel like second-class allies.

The difference between Russia/Ukraine and Iran/Israel in this regard accounts for the US’ different approach towards each pair.

As was explained last month in this analysis about why “Putin Explicitly Confirmed What Was Already Self-Evident About Russia’s Nuclear Doctrine”, the comparatively more pragmatic policymakers who still have the final say in Russia and the US have thus far managed to avoid the uncontrollable escalation sequence that their respective hawkish rivals want.

Here’s how they did it:

“[The US hawks’] comparatively more pragmatic rivals who still call the shots always signal their escalatory intentions far in advance so that Russia could prepare itself and thus be less likely to ‘overreact’ in some way that risks World War III. Likewise, Russia continues restraining itself from replicating the US’ ‘shock-and-awe’ campaign in order to reduce the likelihood of the West ‘overreacting’ by directly intervening in the conflict to salvage their geopolitical project and thus risking World War III.

It can only be speculated whether this interplay is due to each’s permanent military, intelligence, and diplomatic bureaucracies (‘deep state’) behaving responsibly on their own considering the enormity of what’s at stake or if it’s the result of a ‘gentlemen’s agreement’. Whatever the truth may be, the aforesaid model accounts for the unexpected moves or lack thereof from each, which are the US correspondingly telegraphing its escalatory intentions and Russia never seriously escalating in kind.”

There’s no equivalent balance of nuclear power between the US and Iran, with the most that Iran can do is launch saturation strikes against American bases in the region, not existentially threaten it like Russia can.

If Iran’s potential retaliation to Israel’s expected strike harms or kills some of the nearly 100-member team operating the US’ THAAD in the self-professed Jewish State, then the US could either take the hit, retaliate against Iranian-aligned Resistance groups in the region, or strike the Islamic Republic.

Regardless of whatever might happen, non-nuclear Iran is incapable of existentially threatening the US like nuclear-armed Russia could if the latter retaliated to the interception of its missiles by hitting targets inside of NATO, which could easily catalyze a possibly apocalyptic escalation sequence.

To be sure, there are indeed some US hawks who want to risk that scenario and the abovementioned comparatively less consequential one in West Asia, but their more pragmatic rivals are still able to stop them for now.

END

UKRAINE/RUSSIA/USA/EU

this guy is crazy!

NATO Membership Or Nuclear Weapons: Zelensky Stuns Allies With Demand

Friday, Oct 18, 2024 – 09:10 AM

Ukrainian President Volodymyr Zelensky, having received a lackluster response when he pitched his ‘victory plan’ to US officials in Washington last month, now says that Ukraine must either join NATO or obtain nuclear weapons.

He made the ultra provocative comments while speaking before the EU’s European Council in Brussels, where he presented the victory plan before European lawmakers. That’s when he referenced a recent private conversation with Republican presidential candidate Donald Trump, saying he told Trump that his country needs “some kind of alliance” or be “forced to pursue nuclear weapons.” 

“In a conversation with Donald Trump I said – this is our situation: What way out do we have? Either Ukraine will have nuclear weapons, which for us will be a defense, or we’ll need to have some sort of alliance, besides NATO. But today we know of no other alliance,” Zelensky said.

“NATO countries today are not at war. NATO countries are not fighting. In NATO countries people are still alive. Thank God. That is why we choose NATO, not nuclear weapons. And Donald Trump heard me. He said you have a just argument,” he continued.

At one point in these comments he referenced this historic Budapest Memorandum, a 1994 agreement where Ukraine agreed to give up its nuclear arsenal from Soviet times in exchange for security guarantees from Russia, the US, and UK.

He also emphasized in a rhetorical question, “Which nuclear states suffered? None except Ukraine… Who gave up their nuclear weapons? All of them? No. Only Ukraine… Who is fighting today? Ukraine.”

Following the address, Zelensky appeared alongside NATO Secretary-General Mark Rutte and sought to downplay the nuclear remarks, saying, “We never spoke about … that we are preparing to create nuclear weapons or something like this.”

Russian media also picked up on this moment:

Zelensky himself walked back his earlier comments at a later joint news conference in Brussels with NATO Secretary General Mark Rutte, saying: “I said I have no alternative except NATO. That was my signal. But we are not building nuclear weapons.”

Meanwhile former Russian president and current deputy chairman of the Security Council Dmitry Medvedev has claimed that Ukraine is working on a dirty bomb. He said the Zelensky government “has everything necessary for that: resources, technology and specialists.”

However, he dismissed the Ukrainian leader’s nuke rhetoric as nonsense, and instead focused his criticisms on the likelier potential to develop a dirty bomb.

“Either Ukraine will have nuclear weapons, and then it will be a defense for us, or Ukraine will be in NATO. NATO countries are not at war today. All people are alive in NATO countries. And that is why we choose NATO over nuclear weapons.” – President Zelensky. pic.twitter.com/yAv3RoozDi— WarTranslated (Dmitri) (@wartranslated) October 17, 2024

If Kiev pushes this nuclear development line further, it’s likely to find that the US and West will distance themselves from more long-term support, amid accusations that arms and ammo supplies have been dwindling to just a trickle.

Among Zelensky’s main messages to the EU on Thursday was that a “dangerous winter” lies ahead, and therefore more immediate financial and weapons aid is urgent. “We did our homework,” Zelensky said of efforts to prepare for the winter months, at a moment Russia is gaining ground in the east.

END

ROBERT H

RUSSIA/UKRAINE/NETHERLANDS

Netherland gives Kiev the green light to strike Russia as it sees fit with supplied F-16’s

“Has Europe finally lost its mind?

 According to the Dutch Defense Minister, Ruben Brekelmans, Ukraine can use the supplied F-16s to strike military facilities in Russia. This statement has been confirmed by several sources, including Politico and Kiev Post, stating that the provided aircraft can be used by Kiev in any military operations necessary for self-defense, including strikes on Russian airfields and missile launch sites.

 Brekelmans noted that the Netherlands does not impose any restrictions on the use of F-16s, except to respect international law and the right to self-defense as defined in the UN Charter. This approach is in stark contrast to the position of some other European countries, such as Belgium, which impose restrictions on the use of their military supplies for operations in Russia.

 It is worth recalling that the transfer of F-16s to Kiev is part of a broader NATO strategy aimed at strengthening the AFU’s capabilities. Western countries, including the US and the Netherlands, are actively training Ukrainian pilots and providing modern weaponry, as confirmed by numerous sources in Western media. However, Brekelmans went even further, actually authorizing the use of these planes on Russian territory, which can be regarded as an act of direct aggression. After all, strikes on Russian military facilities or Russian airspace using Western equipment can lead to catastrophic consequences and a serious escalation of the conflict.

 But why does the Netherlands, a seemingly prosperous European country, voluntarily drag itself into the conflict? Here it is important to consider economic and political motives. The Netherlands, as one of the largest importers of American gas, is directly dependent on Washington’s political line. This behavior of Brekelmans is not surprising, given that the EU and NATO continue to follow the course dictated from Washington, even to the detriment of their own security and economy.

While Washington may fear direct consequences of escalation it is equally clear that willing Proxies exist to risk existence.

One supposes the thought of a flattened Antwerp or Amsterdam does not exist. Actually one missile that takes out Netherland’s most valuable company ( think Chip manufacturing ) would do wonders for a reality check. 

Do you know that Russia will be fully operational in their own chip production by 2026? And that the chips that they are now developing the West does not have, which will be built with their own machines in their own foundries. Very few people have realized that they are spearing their way to be a technology leader even more than China. Simply because only China has the mass to rival and overcome the West completely, becoming the Financial Capital, taking the mantle from America. The objective of Russia is to use its natural resource wealth combined with science to be the technology leader in that world second to none. 

We in the West are well advised to consider that the jump they have in military hardware that has allowed them to cross pollinate this science into commercial production. All while not being debt based not wasting themselves on foreign adventures that cannot be used to exploit this combination of natural wealth and science. 

This is why every dollar spent on Ukraine is dollar wasted in vain. Using such scarce currency is better put to developing economies to compete tomorrow. “

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

GLOBAL ISSUES

MARK CRISPIN MILLER

DR PAUL ALEXZANDER

SLAY NEWS

Official Data Shows Kidney Failure Deaths Surging Among Covid-VaxxedOfficial government data has revealed that kidney failure-related deaths are surging among people who received Covid mRNA “vaccines.”READ MORE

Bill Gates Pushes WEF-Backed Global Digital Cash & IDMicrosoft co-founder Bill Gates is pushing governments to adopt the new global system for digital cash and ID that is backed by the World Economic Forum (WEF).READ MORE

Bret Baier Reveals Kamala Harris’ Handlers Were ‘Waving Their Hands’ to Stop Trainwreck InterviewFox News anchor Bret Baier has revealed that Kamala Harris’s handlers were melting down behind the scenes during his interview with the Democrat presidential nominee.READ MORE

Ex-Clinton Pollster Warns Blue Wall ‘Eroding’ for Kamala Harris After Trainwreck Fox Interview: ‘Very Bad Sign’Following her trainwreck interview with Fox News on Wednesday, top Democrat pundits are now raising serious concerns about Democrat presidential nominee Kamala Harris’s campaign.READ MORE

Kamala Harris Dodges Questions About Biden’s Mental Decline: Trump Is ‘Unfit and Dangerous’During her trainwreck interview with Fox News, Democrat presidential nominee Kamala Harris repeatedly dodged questions about President Joe Biden’s mental decline.READ MORE

Pelosi Admits She Hasn’t Spoken to Biden Since Forcing Him to Drop OutTop Democrats Rep. Nancy Pelosi (D-CA) and President Joe Biden haven’t spoken for months, the former House speaker has admitted.READ MORE

Liz Cheney’s Secret Conversation with Jan 6 ‘Star Witness’ Breached EthicsThe hypocrisy of disgraced former Rep. Liz Cheney (R-WY) has been exposed by damaging texts showing that she secretly spoke with a “star witness” in the Democrats’ anti-Trump on Jan. 6 “investigations.”READ MORE

Trump Warns Kamala Harris’ Medical Report Exposes ‘Dangerous Situation’President Donald Trump has warned that Democrat presidential nominee Kamala Harris’s medical assessment exposes “dangerous” symptoms that may affect her ability to serve.READ MORE

26-Year-Old Social Media Star Falls to Death While Climbing Bridge in SpainA 26-year-old British daredevil has fallen to his death while climbing a bridge in Spain.READ MORE

Trump Vows to ‘End All Sanctuary Cities Immediately’ with ‘Executive Order’President Donald Trump has vowed to “end all sanctuary cities in the United States” on Day One of his next presidency.READ MORE

Joy Behar ‘Starting to Worry’ as Polls Show Trump Surging: ‘Everybody’s Getting Nervous’“The View” co-host Joy Behar has revealed that she’s “starting to worry” as polling shows President Donald Trump is surging among voters ahead of next month’s critical presidential election.READ MORE

Georgia Breaks Early Voting Record Despite ‘Jim Crow’ Election lawsGeorgia has just smashed its early voting record after Democrats claimed the state’s election laws were comparable to “Jim Crow.”READ MORE

Judge Throws the Book at Nevada Democrat Convicted of Murdering Reporter: At Least 28 Years in PrisonA Nevada judge has sentenced a Las Vegas-area Democrat to a minimum of 28 years in prison for murdering an investigative reporter.READ MORE

NEWS ADDICTS

Australia Suffers Seven-Fold Death Surge Among Covid-VaccinatedExperts and officials in Australia have just issued an alarming red alert after recording a seven-fold increase in deaths among those who received Covid mRNA vaccines.READ THE FULL REPORT

Terrified Organ Donor Came Back to Life and Thrashed as Surgeons Prepared to Harvest His Body PartsA terrified organ donor came back to life, thrashing and crying on the operating room table, as surgeons prepared to harvest his body parts, according to witnesses – with one described as ‘everybody’s worst nightmare.’READ THE FULL REPORT

DeSantis responds like a BOSS to question about climate change: ‘I don’t subscribe to your religion’Governor Ron DeSantis was asked by a reporter “When will the words ‘Climate Change’ come out of your mouth?”READ THE FULL REPORT

‘Free Palestine’ Protestor Breaks Trump’s Security Barricade, Tries to Burn IDF FlagA protestor managed to break through security barricades as Donald Trump paid a visit to a New York City barbershop, amid fears over how well the Secret Service can protect him.READ THE FULL REPORT

Biden Told Obama Kamala Harris Is ‘Not as Strong as Me’ at Ethel Kennedy’s FuneralPresident Biden griped to former President Barack Obama that “she” is “not as strong as me” — with Obama agreeing “that’s true” — in a stunning off-mic conversation deciphered for The New York Post by a professional lip reader.READ THE FULL REPORT

EVOL NEWS

Japan Raises Alarm as Anti-Fertility Drugs Found in Covid ‘Vaccines’ – EVOLRead more…Antonio Brown Announces Voter Registration Tailgate – EVOLRead more…CBS Under Fire Again After Being Caught Editing ‘Live’ Interview with Speaker Johnson – EVOLRead more…Biden-Harris Admin Announces New $425M Aid Package, But It’s Not for Hurricane Victims – EVOLRead more…‘Where The F*** Were You?’: Emhoff Says Kamala Berated Him For Being In Spin Class When Biden Dropped Out – EVOLRead more…Mississippi Bridge Collapse: Three Dead and Four Critically Injured – EVOLRead more…U.S. strikes Houthi weapons storage facilities in Yemen – EVOLRead more…Brett Baier Reveals Kamala Harris Handlers Quickly Started To Wave Their Hands To End Interview – EVOLRead more…

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

Maybe Third Time Isn’t The Charm

Friday, Oct 18, 2024 – 10:50 AM

By Benjamin Picton, senior macro strategist at Rabobank

The European Central Bank surprised nobody by cutting its deposit facility rate to 3.25% yesterday. OIS futures were virtually fully-priced for the outcome, and all 65 analysts surveyed by Bloomberg (including our own Bas van Geffen) predicted the 25bps cut, the third of the current easing cycle. The futures market now has 37.7bps worth of cuts priced for the December meeting as Christine Lagarde highlighted concerns over the growth outlook, particularly in the manufacturing sector where rising energy costs, competitive pressures and weaker growth in export markets (China) continues to hurt.

Manufacturing isn’t the only concern. Rabo Research’s Head of Macro Strategy Elwin de Groot and Senior Economist Maartje Wijffelaars recently highlighted perceptions of a ‘catching down’ effect whereby services indicators are following manufacturing lower. Rabo Research argues that softening services indicators are primarily due to weakness in consumer demand, rather than spillover effects from manufacturing. Lagarde confirmed that the ECB has been surprised by this weakness, highlighting that spending had been expected to pick up as growth in wages remains brisk and disinflation continues.

Rabo Research still believes that the conditions exist for a pickup in consumer demand as the high household savings rate normalizes, real wages continue to grow and further monetary easing is delivered. To-date, this has not happened and it has created a divergence between European and American consumers that was illustrated by yesterday’s strong US retail sales report for September. The report confirmed that control group sales rose by 0.7% month-on-month versus expectations and a prior read of +0.3%, prompting the Atlanta Fed’s GDP Nowcast to rise from 3.2% to 3.4%. US initial jobless claims figures released on the day were also stronger than the market expected, printing at 241k versus a consensus estimate of 259k.

The US Treasury curve bear-steepened as 2-year Treasury yields rose by 3.2bps and 10-year yields climbed 7.7bps. By contrast, the German Bund curve also steepened as long-end yields rose, but the dovish message out of the ECB combined with a slightly softer-than-expected CPI print earlier in the day to prompt short end yields to fall and European stocks to rise sharply.

Fed-dated OIS now has just 42.7bps worth of cuts priced in for the two remaining FOMC meetings in 2024. A 25bps cut at each meeting is Rabo Research’s forecast and a popular view in the market following the strong forward guidance issued by Jerome Powell at the NABE conference in late September. The recent run of stronger than expected data has alloyed with comments from the Fed’s Daly and Bostic suggesting that the Fed could skip a cut at one of the upcoming meetings to lift the front end of US rates curves.

Consequently, the S&P500 closed 1 point lower after beginning the day with a firmer tone. The NASDAQ was also broadly unchanged, while the less rate-sensitive Dow Jones gained 0.37% and Bitcoin fell 1%. Brent crude prices rose modestly and are slightly bid in early trade today following news that Israel has eliminated Hamas leader and October 7 mastermind Yahya Sinwa, and an announcement by Hezbollah of “a new and escalatory phase in the confrontation with the Israeli enemy”. Perhaps unsurprisingly, spot gold has set another fresh all-time-high at $2,693/oz.

Turning back to macro, the Australian Bureau of Statistics yesterday released its labor market report for the month of September. The Aussie labor market has been on a bit of a hot streak recently with monthly employment numbers routinely exceeding consensus estimates by orders of magnitude since April. September continued the run as Australia minted 64.1k new jobs against a consensus estimate on the Bloomberg survey of +25k. The unemployment rate held at 4.1% after the August figure was revised down by 1-tick. This was despite the participation rate and the employment to population ratio both rising to new highs.

So, it’s fair to say that the Australian labor market remains remarkably resilient and is not providing any signals to the Reserve Bank that favour a near-term rate cut. Rabo Research has been more hawkish than most in sticking to our forecast that the first cut won’t arrive until May next year. Other analysts had been clustering on the February RBA meeting as a likely date, but the OIS futures now imply a probability of a 25bps cut in February at just ~67%.

Those odds could shift again when the third quarter CPI report is released the week after next. But then again, maybe the third time won’t be the charm for inflation either?

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

CANADA

we are in trouble!@!!

Canada’s Trudeau Slammed Over “Black Justice” Proposal That Would Decriminalize Drugs, Empty Jails

Thursday, Oct 17, 2024 – 06:05 PM

Canadian Prime Minister Justin Trudeau is being slammed by conservatives over recommendations he seeks to implement from a standing committee on “black justice” in Canada.

The proposal will make crime worse in Canada, conservatives led by MP Jamil Jivani have argued. 

Jivani challenged Liberal Diversity Minister Kamal Khera at a heritage committee meeting over the recommendations in “A Roadmap for Transformative Change: Canada’s Black Justice Strategy”, according to True North.

Jivani criticized the proposals as “radical,” citing calls for a 30% reduction in incarceration over 10 years, decriminalizing a 30-day supply of hard drugs like cocaine, heroin, and meth, and cutting 25% of federal grants to police departments.

Jivani accused Khera of being the “DEI Minister” and asked if she supported such “radical criminal justice policies”.

Khera responded: “It would only be a Conservative that would be making a joke out of systemic racism (which as a result) have seen an over incarceration of black and Indigenous people in our criminal justice system. To be making a joke about that is disgraceful.”

The True North report says that in December 2021, Justice Minister Arif Virani was tasked with addressing systemic discrimination contributing to the overrepresentation of Black Canadians in the justice system. A 2020/21 Justice Canada report found that 9% of federal offenders were Black, though they make up only 4% of the population.

The Black Justice Strategy report, released in June and developed with input from 12 Black-led organizations, proposes measures like reducing Black and Indigenous incarceration by 50% by 2034, easing bail restrictions, repealing mandatory minimums, and providing a taxpayer-funded “safe supply” of drugs.

It also advocates for decriminalizing possession of a 30-day supply of controlled substances, including heroin, meth, and cocaine, and reallocating 25% of federal police grants to non-police organizations.

Virani called the report “historic” and essential for building a fairer justice system, but Jivani warned that its recommendations would lead to more crime and disorder, calling the strategy “appalling” in a July social media post.

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:  1.0846 UP 0.0018

USA/ YEN 150.02 DOWN 0.082 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 1.3043 UP .0029

USA/CAN DOLLAR:  1.3792 DOWN 0.0003 (CDN DOLLAR UP 3 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED UP 92,18 PTS OR 2.91%

 Hang Seng CLOSED UP 725.01 PTS OR 3.61%

AUSTRALIA CLOSED DOWN 0.85%

 // EUROPEAN BOURSE:     MOSTLY MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL MOSTLY GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 725.01 PTS OR 3.61%

/SHANGHAI CLOSED UP 92.18 PTS OR 2.91%

AUSTRALIA BOURSE CLOSED DOWN .85%

(Nikkei (Japan) CLOSED UP 70.56 POINTS OR 0.18%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2711.50

silver:$32.13

USA dollar index early FRIDAY  morning: 103.52 DOWN 19 BASIS POINTS FROM  THURSDAY’s CLOSE.

FRIDAY  MORNING NUMBERS ENDS

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And now your closing  FRIDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.615%  DOWN 3 in basis point(s) yield

JAPANESE BOND YIELD: +0.962% UP 0 AND 5/ 10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.873 DOWN 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.356 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.1810 DOWN 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY  

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

Euro/USA 1.0859 UP .0029 OR 29 basis points

USA/Japan: 149.72 DOWN 0.383 OR YEN IS UP 38 BASIS PTS//

Great Britain 10 YR RATE 4.1075 DOWN 2 BASIS POINTS //

Canadian dollar DOWN .0003 OR 3 BASIS pts  to 1.3799

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The USA/Yuan,  CNY ON SHORE CLOSED UP 7.1010 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.1172)

TURKISH LIRA:  34.24 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +0.962

Your closing 10 yr US bond yield DOWN 2 in basis points from THURSDAY at  4.074% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.372 DOWN 2 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.953 DOWN 2  BASIS PTS.

GOLD AT 11;00 AM 2714.65

SILVER AT 11;00: 32,48

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

London: CLOSED DOWN 26.88 PTS OR 0.32%

German Dax :  CLOSED UP 73.78 OR 0.58%

Paris CAC CLOSED UP 29.32 PTS OR 0.39%

Spain IBEX CLOSED UP 20.70 OR 0.17%

Italian MIB: CLOSED UP 165.52 OR 0.67%

WTI Oil price  69,16 12 EST/

Brent Oil:  72,77 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  96.29 ROUBLE UP 1 AND  10/100      

GERMAN 10 YR BOND YIELD; +2.1810 DOWN 2 BASIS PTS.

UK 10 YR YIELD: 4.1075 DOWN 2 BASIS POINTS

CDN 10 YEAR RATE: 3.157 DOWN 2 BASIS PTS.

CDN 5 YEAR RATE: 2.926 DOWN 2

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0804 UP 0.0003 OR 3 BASIS POINTS

British Pound: 1.3043 UP 0.0028 OR 28 basis pts

BRITISH 10 YR GILT BOND YIELD:  4.0570 DOWN 4 BASIS PTS//

JAPAN 10 YR YIELD: 0.956

USA dollar vs Japanese Yen: 149.52 DOWN 0.589 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.3809 UP 0.0014 CDN dollar DOWN 14 BASIS PTS

West Texas intermediate oil: 69.24

Brent OIL:  73.16

USA 10 yr bond yield DOWN 1 BASIS pts to 4.077

USA 30 yr bond yield DOWN 1 BASIS PTS to 4.386%

USA 2 YR BOND: DOWN 3 PTS AT  3.953

CDN 10 YR RATE 3.153 DOWN 3 BASIS PTS

CDN 5 YEAR RATE: 2.923 DOWN 3 BASIS PTS

USA dollar index: 103.31 DOWN 35 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.23 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  95,23 UP 2 AND  15/100 roubles

GOLD  2,719.50 3:30 PM

SILVER: 33.63 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 36.86 PTS OR 0.085%

NASDAQ UP 133.02 PTS OR 0.66%

VOLATILITY INDEX: 18.22 DOWN .89 PTS OR 4.66%

GLD: $251.27 UP 2.64 OR 1.06%

SLV/ $30.64 UP 1.75 OR 6.06%

TORONTO STOCK INDEX// TSX INDEX:UP 126.98 PTS OR .51%

end

USA AFFAIRS

USA TRADING TODAY IN GRAPH FORM:

Bullion, Bitcoin, & Banks Soar As ‘Trump Trade’ Dominates Data This Week

by Tyler Durden

Friday, Oct 18, 2024 – 04:00 PM

A dip in ‘soft’ data was overwhelmed by a resurgence in ‘hard’ data this week…

Source: Bloomberg

…and that ‘no landing’ narrative-builder pushed rate-cut expectations down for 2024 (but dovishly higher for 2025)…

Source: Bloomberg

But, under the surface of the markets is one narrative that even the MSM is struggling to battle with their lies!! The ‘Trump Trade’ is on like Donkey Kong...

Source: Bloomberg

In fact, it’s more than just a Trump victory, a “Red Sweep” is starting to emerge as a strong possibility…

https://embed.polymarket.com/market.html?market=2024-balance-of-power-r-prez-r-senate-r-house&features=volume&theme=light

Another low quality rally kept stocks propped into the weekend, according to Goldman trading desk with Small Caps leading the week strongly while Nasdaq ended unchanged…

The Small Caps gain was all short squeeze (and gamma squeeze)…

Source: Bloomberg

Banks were big winners this week while Energy stocks lagged huuuuge. Tech was unchanged…

Source: Bloomberg

VIX declined this week as various ‘event’ risk catalysts (and OpEx) fell off the books…

Source: Bloomberg

…but vol is set to rise into the election and FOMC…

Source: Bloomberg

Despite a very chaotic (and holiday shortened) week, Treasury yields ended only marginally changed with the long-end modestly outperforming…

Source: Bloomberg

With the 2Y Yield hitting 4.00% and back down while the 10Y yield dipped below 4.00% midweek, only to push back to the highs of the week this morning…

Source: Bloomberg

Gold ripped above $2700 for a new record high this week…

Source: Bloomberg

…and Silver rallied for the fifth week in the last six, breaking above $33 to close at its highest since Dec 2012

Source: Bloomberg

…Silver is outperforming gold in recent weeks (which should come as no surprise to professional subscribers)…

Source: Bloomberg

The dollar continued its charge higher this week, back to near July highs…

Source: Bloomberg

The correlation between gold and the dollar is soaring to its highest since March 2022…

Source: Bloomberg

Bitcoin also ripped to its highest ‘close’ since June, nearing $70,000 this morning…

Source: Bloomberg

Ethereum continues to lag its big brother in crypto, erasing almost all of the DeFi boom outperformance…

Source: Bloomberg

Oil prices plunged significantly this week (with two big legs down) pushing WTI back below $70. This was the worst week for crude in over a year…

Source: Bloomberg

Finally, all the prediction markets are bid for a Trump/Republican victory in November (but the ‘polls’ still favor Harris)…

Source: Bloomberg

…and of course, the MSM cry foul… somehow believing that this is ‘manipulated’ (as a reminder, in a market, there are buyers and sellers… why not ‘manipulate’ that ‘market’ back your way if you don’t agree with the price?)…

The UBS Republican vs Democrat Index just hit an all time high. Must be manipulated too? pic.twitter.com/sR5Yf4mmqo

— zerohedge (@zerohedge) October 18, 2024

…but then again, we are probably the last people to claim that stocks are not rigged too…

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

US Housing Starts & Building Permits Plunge In September

Friday, Oct 18, 2024 – 08:41 AM

After surprising top the upside in August, Housing Starts and Building Permits disappointed in September, declining more than expected (-0.5% MoM and -2.9% MoM respectively)…

Source: Bloomberg

Under the hood, multi-family permits plunged 10.8% MoM (and multi-family starts dropped for the second straight month). Single-family starts rose 2.7% MoM and permiots inchjed higher by 0.3% MoM…

Source: Bloomberg

Rate-cut expectations appear to have taken the excitement out of the building market…

Source: Bloomberg

Housing Completions also dropped (but the BLS thinks construction jobs continue to rise non-stop)…

Source: Bloomberg

So, The Fed cuts short-term rates… mortgage-rates rise… and builders slow their building plans… that’s not how it’s supposed to work!

END

III USA ECONOMIC NEWS

Kamunism Strikes Again: Increasing Numbers Of Americans Getting Trapped In Credit-Card Debt

Friday, Oct 18, 2024 – 12:10 PM

Authored by Kevin Stocklin via The Epoch Times,

Rising prices and higher interest rates are trapping many Americans in expensive credit card debt, a new report states. 

According to a survey released Thursday by Bankrate, a financial analytics firm, 37 percent of American credit card holders have maxed out or nearly maxed out on their card limits since the Federal Reserve began raising interest rates in March 2022. 

“That’s probably higher than you would expect to see in an economy that has low and stable inflation,” Bankrate analyst Sarah Foster told The Epoch Times.

“I think this is just a sign that consumers are feeling some distress, and the nationwide aggregate numbers just might be masking what’s underneath the hood.”

According to the survey, more than half of the respondents who had gone deep into credit card debt blamed inflation, which has reduced the value of the U.S. dollar by more than 20 percent since 2021 and left many Americans struggling to afford basic necessities. The second reason, cited by 38 percent of respondents, was unexpected emergency expenses.

Aggregate U.S. labor data are generally positive. Unemployment, while edging up slightly over the past year, remains low at 4.1 percent as of September, according to the Bureau of Labor Statistics. Wage growth, while down from 2023, is 4.7 percent as of September, according to Fed statistics. 

But national averages don’t always capture the plight of those who are struggling. 

According to the Q4 2023 Quarterly Credit Industry Insights Report (CIIR) released in February by TransUnion, a credit-rating company, Americans’ credit card debt exceeded $1 trillion for the first time on record, and grew by 13 percent over the prior growth year.

And by contrast to more affluent Americans, who can draw on options like home equity for cash, those who must resort to credit cards will typically pay interest rates of almost 25 percent, according the LendingTree, a consumer finance company. Those high interest rates add to monthly card payments, making it even more difficult for those who have gone deeply into debt to climb back out of it.

In addition, those who max out on their credit cards also often see their credit scores decline, closing off other options to consolidate their debt at lower rates. 

According to Experian, a credit-rating company, a person’s credit-utilization ratio, or how much an individual has borrowed under available credit lines, comprises about 30 percent of a FICO credit score, a key measure used by banks and card companies to assess creditworthiness. Running up against card limits will often result in a substantial reduction of a person’s FICO score.

Lower FICO scores not only result in higher interest rates, they can also drive up other costs, like car insurance. People with poor credit pay on average $4,349 per year for a full coverage car insurance policy, compared to $2,348 for those with a good credit rating, Bankrate insurance analyst Shannon Martin told The Epoch Times. By comparison, a driver with a drunken driving arrest pays $4,557.

Concerns About Consumer Spending

Given that consumer spending comprises more than two-thirds of America’s GDP, indications of consumer distress can be a red flag for the economic health of the country.

“From the economic standpoint, if we already have this many Americans struggling to handle inflation—they’re tapping their credit cards and running out of options to finance essential expenses—that’s a pretty worrisome sign for the economy too,” Foster said.

“We’re in the fourth quarter now and we’re approaching a crucial holiday shopping season.”

Typically, she said, when people max out on their credit cards it also indicates they are likely behind on paying other bills, such as heat, water, and electricity. 

An October report from BankruptcyWatch found that personal bankruptcy filings have increased significantly over the past three years.

“Chapter 7 filings—a lifeline for many struggling households—increased by 44.77 percent year over year,” the report stated, also noting an “unprecedented surge in Chapter 13 filings,” which are filed by individuals who hope to hold on to essential assets like their homes and cars, and which increased more than 21 percent year over year.

While personal bankruptcy filings are trending upward, they are still well below pre-pandemic levels, and BankruptcyWatch calls a relatively healthy employment market a “silver lining” for Americans.

However, current trends in bankruptcy filings suggest a return to pre-pandemic levels, the report states. 

Analysts say that some of the recent increase in bankruptcies is due to the fact that government payments following COVID-19 lockdowns have run out for many Americans.

Noting that “pandemic relief efforts have largely expired,” American Bankruptcy Institute executive director Amy Quackenboss stated in March 2023 that “debt loads are expanding as the prices of goods and services have gone up with inflation and the cost of borrowing continues to rise.”

However, an October 11 report by U.S. Bank takes a more positive view. 

“Coming into 2024, there were concerns about the consumer’s ability to maintain healthy spending levels,” Rob Haworth, senior investment strategy director at U.S. Bank Asset Management, stated in the report.

“But that hasn’t happened.” 

Retail sales were up 2.3 percent for the three-month period ended in August and rose 2.1 percent from levels a year ago, the bank stated.

While crediting these spending levels to “a solid job market, low unemployment, and wage increases,” the bank noted that “one issue to watch is total U.S. credit card debt, which now tops $1 trillion, a record high.”

Coping With Credit Card Debt

Americans who can access cheaper credit lines, such as a home equity line of credit, should consider using them to pay down more expensive credit card debt.

For those who do not have access to cheaper alternatives, one way to improve credit scores is to ask your credit card company to increase the card limits, so long as that doesn’t lead to putting more debt on the card.

Higher credit scores can open up better debt options. 

Foster also suggests making multiple payments on your card each month to reduce the balance on the statement date. This is because utilization rates are typically calculated based on your most recent card statement, not your average outstanding balance, she said. 

Balance-transfer cards, which offer low introductory rates, could be a temporary solution that allows borrowers to avoid high interest payments for several months and can provide an opportunity to use that extra cash to pay down the balance before the higher rates kick in. 

But for those who have run out of alternatives, Foster said, “it’s probably a wise idea to consider looking into nonprofit credit-counseling services.”

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

“Bullshit Jobs” – Tucker Carlson Explains How ‘They’ Got So Rich

Friday, Oct 18, 2024 – 01:10 PM

As Victor Davis Hanson detailed yesterday, the election is finally shaping up to be not only liberal Democrat Harris versus conservative Republican Trump.

Instead, it has become a larger contest between those who talk down to their fellow Americans and those who are increasingly sick and tired of being lectured.

None other than Tucker Carlson took up the ‘them and us’ narrative in a fantastic speech

“In the last election Biden voters owned 70% of the wealth in the United States and Trump voters owned 30% and I thought to myself: on the one hand it’s like okay Republican Party’s now the party of working-class people great but then I thought how did they get 70% of the wealth they don’t do anything?”

“Actually,” Carlson goes on, “they have no skills. There’s nothing they do that we really need.”

“If your average Biden voter somehow like got pulled out of the workforce, would you be okay?“

“How long do you think this country could survive without private equity? A week? Before we all just starve to death.

“How long could you and your family make it without a DEI consultant on site? …I’m serious. Could you get to Halloween? Or will one of your little children stare up at you with doe eyes and say, Mommy, I need a DEI consultant. I need it now. Honestly, I need a school counselor or some heavy set nurses who can convince me to go trans. I need that.“

“Honestly, I need Tim Walz talking to me about my sex life in high school. Really, I need a creep like Tim Walz. No, I do. I need that… Not creepy okay let’s your instincts be your guide on that one let me just say as I always would tell my children someone seems creepy he is.”

“Am I indicting him for the crime nope I don’t have any evidence. I don’t need any that guy’s a creep, sorry. Chances are my dogs would bark at Tim Walz if he came over to my house, 100%. Oh yeah they would. They’d back him into a corner and be like, stop that! And they wouldn’t stop. Because they know.”:

“But the point is that entire, not just political party, but class of people has created an entire economy and credentialing system to reward themselves with money and power that is not deserved.“

“That’s exactly the truth. I don’t like to swear, but the phrase bullshit jobs is a real thing. Those are all bullshit jobs, every single one of them...”

“And yet they’re lecturing people who, I don’t know, plumb your house, keep you from getting murdered, put out the fires when they start, rescue you after a car crash on the highway, build the building you live in, pave the road you drive on, grow the food you eat.”

“Those are the deplorables? Really? Good luck when the power goes out, honey. You can call your average college administrator to save you.”

Watch the full speech below:

Great speech by Tucker Carlson: "In the last election Biden voters owned 70% of the wealth in the United States and Trump voters owned 30% and I thought to myself on the one hand it's like okay Republican Party's down the party of working-class people great but then I thought how… pic.twitter.com/BxsaKrsowJ

— Camus (@newstart_2024) October 17, 2024

KING REPORT

The King Report October 18, 2024 Issue 7351

Independent View of the News

European Central Bank cuts rates, Lagarde flags downside risks to inflation outlook The European Central Bank on Thursday cut its key interest rate to 3.25%, in its third quarter-percentage-point reduction of the year… The ECB only debated a 25 basis point rate cut… https://www.cnbc.com/2024/10/17/european-central-bank-october-meeting.html   Chinese Stocks Tumble After Latest Round of Property Stimulus Is a Dud https://t.co/kFH0FsgAnQ Shares of developers Sunac China and China Vanke crashed 27% and 17%, respectively…   @Geiger_Capital: ~$500B was added to the national debt in just the last 3 weeks… Half a TRILLION in 3 WEEKS. Front running the election.  The government is out of control. https://x.com/Geiger_Capital/status/1847039572212924834   Cleveland Fed warns sticky rent gains may pressure overall inflation “Our baseline forecast implies that [Consumer Price Index]rent inflation will remain above its pre-pandemic norm of about 3.5% until mid-2026,”…      The statement announcing the report notes this gap (between existing & new leases) is “notably wider” than where it was before the pandemic started, when it stood at just above 1%. “Our estimated rent gap in September 2024 is just under 5.5%, suggesting that there remains a substantial amount of potential rent inflation to be passed through to continuing tenants,” it said… https://t.co/f5llmOopdY   @charliebilello: Average US family health insurance premium… 2000: $6k   2003: $9k 2006: $11k 2009: $13k 2012: $16k 2015: $18k 2018: $20k 2021: $22k 2024: $26k   That’s a 342% increase since 1999 (6.1% per year). (Note: US CPI inflation has increased 2.5%/year) https://t.co/rQuXrxVXM0   Disney joins Peacock, Max, and others in raising prices… Most plans will see subscription costs rise by $1 to $2 per month. Hulu Live TV plans will see more sizable increases, rising by $6 a month. https://yahoo.trib.al/BKQLSU9   US Sept Retail Sales 0.4% m/m, 0.3% exp; Ex-Autos 0.5% 0.1% exp.; Ex-Autos & Gas 0.7%, 0.3% exp   Initial Jobless Claims 241k, 259k expected, 260k prior Continuing Claims 1.867m, 1.865m expected, 1.858m prior   US Sept Industrial Production -0.3% m/m, -0.2% exp., prior revised to 0.3% from 0.8% (FBI-like!) Manufacturing Production -0.4%, -0.1% expected, prior revised to 0.5% from 0.9% Capacity Utilization 77.5%, 77.8% expected, prior revised to 77.8% from 78.0%   Retail Sales ‘Reality Check’: This Was the Biggest Positive September Seasonal-Adjustment Ever! Headline retail sales MoM beat was not enough top keep the YoY print improving as it dropped to +1.7% YoY – the weakest since January… On an unadjusted basis, Retail sales fell a shocking 7.5% MoM… On an unadjusted basis, retail sales were flat (0.0%) YoY which means (roughly speaking) real retail sales were down notably on a YoY basis… https://www.zerohedge.com/markets/real-retail-sales-slump-yoy-despite-seasonally-adjusted-surge-september   @charliebilello: US Retail Sales increased 1.4% over the last year but after adjusting for higher prices they were down 0.9%. Both of these numbers are well below the historical averages of +4.6% nominal and +2.0% real.  https://x.com/charliebilello/status/1846933365024268380   Biden to visit Germany for talks with Scholz, Macron and Starmer on Ukraine, Mideast (Friday) https://www.timesofisrael.com/biden-to-visit-germany-for-talks-with-scholz-macron-and-starmer-on-ukraine-mideast/   Fangs rebounded on Thursday, led by Nvidia, which soared as much as 3.8% and hit a new high (140.89).  The expiry week manipulation plus earnings season pattern buying is propelling Fangs, as usual.  Caveat: Nvidia sank in the afternoon and closed at 136.928.   ESZs opened modestly lower on Wednesday night and fell until they hit their daily low 5871.25 at 22:40 ET.  After a modest rally, ESZs rolled over until they commenced a rally after the 1 ET Nikkei close.  It propelled ESZs to a daily high of 5927.25 at 9:06 ET.  There were NO meaningful retreats during the run.   However, the dump for the NYSE open began early.  ESZs sank to 5886.50 by 11:02 ET.  Along the way, there were two spikes higher that quickly reversed.  The manipulation for the European close begat a rally that took ESZs to 5913.00 at 12:01 ET.  ESZs then traded in a 10-handle range until they broke lower at 14:00 ET.  After the obligatory rally (10 handles) ahead of the expected last-hour manipulation, ESZs fell to 5884.75 at the NYSE close   Positive aspects of previous session Fangs rebounded; NVDA hit a new high. The DJIA rallied 161.35 points.   Negative aspects of previous session The DJTA, DJUA, and bonds declined sharply; USZs were -1 8/32 at NYSE close. Gold and precious metals rallied smartly. Nvidia and Fangs declined in the afternoon. ESZs peaked at 9:06 ET and declined, ex-one rally, thereafter.   Ambiguous aspects of previous session Are stocks tired?  They acted that way on Thursday afternoon.   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5853.39 Previous session S&P 500 Index High/Low: 5878.46; 5840.25   EU has warned X that it may calculate potential fines against the social media platform by including revenue from Elon Musk’s other businesses — BBG   For months, Biden-Harris repeatedly commanded Israel to appease Hamas.  A few days ago, Biden-Harris threatened Israel with an arms embargo.  So, what happened after Bibi announced that the IDF killed Hamas chief Sinwar?  Biden and Harris read statements that extolled Sinwar’s death and proudly claimed that the US aided & abetted Israel in tracking and getting Anwar!  You can’t make this up! @JacquiHeinrich: POTUS on Sinwar’s killing: “This is a good day for Israel, for the United States, and for the world…. Shortly after the October 7 massacres, I directed Special Operations personnel and our intelligence professionals to work side-by-side with their Israeli counterparts… With our intelligence help, the IDF relentlessly pursued Hamas’s leaders, flushing them out of their hiding places and forcing them onto the run.  There has rarely been a military campaign like this,”… https://x.com/JacquiHeinrich/status/1846979415307366873/photo/1   Sinwar’s Likely Death Comes Days After Biden, Harris Threatened Israel with Arms Embargo https://www.breitbart.com/middle-east/2024/10/17/sinwars-likely-death-comes-days-after-biden-harris-threatened-israel-with-arms-embargo/   @cspan: VP Harris on Death of Hamas Leader Yahya Sinwar:  “Justice has been served and the United States, Israel, and the entire world are better off as a result…To any terrorist who kills Americans, threatens the American people…know this; we will always bring you to justice… In the past year America special operation and intelligence personal have worked closely with their Israeli counter parts to locate and track Sinwar and other Hamas leaders…” https://t.co/fOzs9OWg9x (Of course, Harris took no questions after her recitation and bolted.)   Harris Says US Has Not Ruled Out Consequences if Israel Invades Rafah   March 24, 2024 https://abcnews.go.com/Politics/harris-us-ruled-consequences-israel-invades-rafah/story   @TrumpWarRoom: Yahya Sinwar… was killed by Israeli forces today in Rafah. In March, Kamala said an Israeli offensive in Rafah would be a “huge mistake” because she “studied the maps.” https://t.co/lgPNpGnniV   GOP Sen. @SenTomCotton: Hamas’s genocidal leader, Yahya Sinwar, was killed in Rafah. Remember, Kamala Harris “studied the maps” and demanded that Israel not enter Rafah…   PS – The IDF undercut Biden-Harris’s boasting when it stated that Sinwar was found by chance.   @DrEliDavid: Yahya Sinwar had an aggressive brain cancer years ago. He was operated in Israel  and received extensive treatment, leading to his full recovery. All paid by Israeli taxpayer…   @DrEliDavid: Sinwar’s bodyguard was an “UNRWA (UN) Teacher” https://t.co/GNe1eEAQJC   @BarakRavid: Netanyahu: To the Hamas terrorists I say – your leaders are running away, and they will be eliminated. I call on everyone who holds our hostages: whoever lays down his arms and returns our hostages – we will allow him to leave and live. Whoever harms our hostages – there will be blood on his head and we will hold him accountable. The return of our hostages is an opportunity to achieve all our goals and it brings the end of the war closer…   Air Force Uses B-2 Bomber for First Time in Combat Since 2017, Sending Message to Iran The bombers conducted airstrikes on five underground weapons facilities… (on Houthis in Yemen) https://www.military.com/daily-news/2024/10/17/air-force-uses-b-2-bomber-first-time-combat-2017-sending-message-iran.html   Trump says Apple’s Tim Cook called him — here were the CEO’s concerns “He said the European Union has just fined us $15 billion. … Then on top of that they got fined by the European Union another $2 billion… Tim, I got to get elected first. … But I’m not going to let them take advantage of our companies. That won’t be happening,” Trump quoted himself as saying to Cook… https://nypost.com/2024/10/17/business/trump-says-apples-tim-cook-called-with-concerns-about-eu-penalties/   After the close, Netflix reported Q3 EPS 5.40, 5.12 exp.; revenue $9.82B, $98.78B exp.; sees Q4 PS 4.23, 3.90 exp.; sees Q4 revenue $10.13B, $10.05B exp., Q3 streaming paid net change +5.07m, +4.52m exp.   Netflix gyrated wildly in after-hour trading.  It soared to 705.39 (687.65 close); sank to 669 and rebounded to 724.00 within 13 minutes.   Fed Balance Sheet: -$7.556B, with US Treasuries -$6.894B; Reserves at Fed: +$23.67B   Today is October expiration.  It appears that much of the manipulation to squeeze expiring calls appeared early in the week.  Despite the negative action on Thursday, traders will play for the Friday Rally and the expiration day upward squeeze.   ESZs and NQZs soared early Thursday night on expiry-related buying, but are down a tad at 20:20 ET.   Expected impact earnings: SLB .89, AXP 3.29, PG 1.90   Expected econ data and events: Sept Housing Starts 1.25m, Permits 1.46m; Atlanta Fed Pres Bostic 9:30 ET & 11:30 ET, Minn Fed Pres Kashkari 10 ET, Fed Gov. Waller 12:10 ET   S&P Index 50-day MA: 5632; 100-day MA: 5538; 150-day MA: 5416; 200-day MA: 5301 DJIA 50-day MA: 41,456; 100-day MA: 40,445; 150-day MA: 39,931; 200-day MA: 39,560 (Green is positive slope; Red is negative slope)   S&P 500 Index (5841.47 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5033.40 triggers a sell signal Weekly: Trender and MACD are positive – a close below 5434.12 triggers a sell signal Daily: Trender and MACD are positive – a close below 5771.56 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5828.28 triggers a sell signal   @Polymarket: Trump’s odds are up 2.5% after Kamala Harris’ Fox News interview. He now has a 24% lead. https://t.co/7YFOFzwrfu   @BuckSexton: If you think you’re having a tough day, just remember there are libs whose jobs depend on pretending that Kamala Harris did well in that interview.   @greg_price11: I completely missed this during Kamala’s interview, but she claimed tonight that he prosecuted the Guadalajara Cartel — A drug cartel that dissolved in the late 1980s, years before she became a prosecutor in California lmfao. https://t.co/DRJ39VSYAN   Fox News’ Bret Baier claims Harris campaign tried to steal time from the interview — then had VP show up late https://t.co/1LSiu90txP   @JonathanTurley: One of the most interesting aspects of the interview was the purely pedestrian view of the presidency that Harris presented in the interview. Harris repeatedly responded with “I will follow the law” while refusing to answer questions on her positions.     The mantra of “I will follow the law” ignores that a president plays a major role in the legislative process and has considerable executive powers in determining how such laws are enforced…   @CynicalPublius: Bret Baier’s challenging interview of Kamala Harris was of a type that Donald Trump and JD Vance routinely handle 3-4 times a week. That was likely the first hard interview Kamala has faced in her entire life, which was why she lost emotional control.    GOP politicians are at an advantage because they must always be sharp and on their toes with the media.  Democrats rarely face such challenges, and when they do, they melt down because they have had no practice…   NY Times plagiarism consultant says VP Harris scandal is “more serious” than he thought after taking a close look. https://trib.al/Pl6UX89   MAUREEN CALLAHAN: I’m starting to believe there’s a media conspiracy to get Kamala elected! When WILL an interviewer ask the question that would finally expose her fraudulent campaign? A multi-sourced claim that in May 2012, Doug Emhoff hit his then-girlfriend in the face so hard that she spun around — in full view of a valet line outside an A-list gala in France… Democrats are the party of ‘believe all women’, of ‘protect all women’… https://www.dailymail.co.uk/news/article-13971791/interview-fox-kamala-doug-emhoff-MAUREEN-CALLAHAN.html   Ex-DoJ official @JeffClarkUS: The New York Sun asks the question of how it could have been possible for the Kamala campaign to cut a political ad so soon after Jack Smith’s October surprise of a procedurally irregular 165-prebuttal brief. They are suggesting that Jack Smith and the Kamala campaign were coordinating. This possibility must be investigated at the appropriate time.     So, be on the lookout, if Trump wins, for the Jack Smith team to “accidentally” erase their cell phones by inputting the wrong password repeatedly, just like Andrew Weissmann did when the Russiagate nonsense petered out.   Harris Slated to Attend Famed Al Smith Charity Dinner ‘On Screen’ after Snubbing Catholic Group  https://dailycaller.com/2024/10/17/harris-al-smith-dinner-on-screen-snub-catholic-group/   Cardinal Dolan blasts Harris for skipping Al Smith Dinner, reveals she’s ‘sending one of those Zooms or something’ https://trib.al/xyfkvsb   What Biden and Obama said to each other during intense moment at Ethel Kennedy’s funeral Jeremy Freeman, a professional lipreader told DailyMail.com: Obama said to Biden ‘No that’s not on’, to which Biden simply responded: ‘Hmm.’  Obama added: ‘[I think it’s important that we can have some time together, we’ll take it at [face] value.’     Biden then says ‘Yes that’s right. Maybe we can… she’s not as strong as me.’ ‘I know, that’s true. We have time…’, Obama responds.  Biden then appears to back his predecessor up, saying: ‘Yeah, we’ll get there in time.’ Obama then turns his back to the camera and says something to Biden, to which he responds: ‘Uh huh.’… https://www.dailymail.co.uk/news/article-13971075/What-Biden-Obama-said-intense-moment-Ethel-Kennedys-funeral.html   Biden told Obama ‘she’s not as strong as me’ — and ex-prez agreed ‘that’s true’ at Ethel Kennedy funeral https://t.co/9lrHbiOeNE   @still_boneless: Just caught this. Look closely. It looks like she’s (Harris) adjusting an earpiece. https://x.com/still_boneless/status/1846676668980646265     @catturd2: Been saying it for months – it’s not the earrings.  Her right ear is always covered completely by her hair.  That’s where the earpiece is.   @mattsmith_news: Vice President Kamala Harris is at UW-Milwaukee. The campaign has now closed the entire event to press where she is meeting with a business class. Meantime, protests continue outside. Some are chanting, “Kamala, Kamala, you can’t hide. We charge you with genocide.” https://x.com/mattsmith_news/status/1846973931737305255?t=Zsw4lGkvjP4AJ7N8sFYJ6A&s=03   @joma_gc: Kamala Harris and Mark Cuban had to be escorted into the building through the rear entrance where their event is being held on the UWM campus as hundreds of angry protestors swarmed Harris’ motorcade. https://t.co/JJAZ43ZcIl   Biden admin moves to shield thousands of Lebanese nationals in US from deportation https://t.co/XzEicAtTBl   GOP @SenJoniErnst: The White House is greenlighting legal status for 11,000 Lebanese nationals, including those who came after Oct 7.  This comes after two poorly vetted Afghan refugees were caught plotting terror attacks. The Biden-Harris admin’s chaos overseas continues to come home.   Trafalgar was one of the few pollsters that had DJT’s 2016 win.  They saw a hidden/reticent Trump vote and figured out how to poll for it.  “Who are your friends/family voting for?”   @EricLDaugh: MICHIGAN poll – who are your friends/neighbors voting for? Trump: 45% (+10), Harris: 35%; MIRS | 10/14 | LVs Poll was Trump+1-2. This begs the question – poll-answerers may say they’re voting for Harris. What about everyone else?   Battleground Democrats Are Avoiding Kamala Harris Like the Plague as Election Day Nears https://dailycaller.com/2024/10/17/dem-senate-candidates-create-distance-kamala-harris-2024-election/   Kamala Harris tweeted edited video of pre-hurricane call to Florida mayor to remove self-praise, concern about aid speed https://trib.al/Iscey4I   ZH: The mainstream lost its monopoly over media. Now it’s losing its monopoly over polls, prediction markets and shaping public opinion as trust shifts to independent new entities https://t.co/wnyyck4ebB   @VigilantNews: @elonmusk fires up a packed Pennsylvania crowd, saying “the hell with” anyone who opposes free speech, the constitution, secure borders, and sensible spending.  “I’ve been told at times that these are, like, right-wing values. I’m like, ‘Are you insane?’ This is literally the fundamental values that made America what it is today. And anyone who’s against those things is fundamentally anti-American. And the hell with them!”   https://x.com/VigilantNews/status/1847042224036761922   @WesternLensman:.@elonmusk in PA, answers a question from the audience about Kamala’s “puppet masters.”  “I think… It’s many.” “Would be interesting to see the crossover between the Epstein client list and Kamala’s puppet masters. I bet there’s a lot of names that appear on both lists.”  https://x.com/WesternLensman/status/1847036562883682527   While Musk campaigned for Trump in PA, Mark Cuban inveighed against Trump for his tariff plan.  It is beyond foolhardy to inveigh against tariffs in states that have been savaged by manufacturers fleeing the US or forced to close due to cheap foreign exports.  Of course, Cuban is talking his book.  China might retaliate against Trump tariffs by penalizing the NBA, which derives big bucks from those commies.   Trump visited a Bronx barbershop on Thursday.   Democrat party donor with close Turkey ties bankrolled Harris, Obama, Eric Adams: ‘Should be scrutinized’ https://trib.al/deMq0l9   UK Labour Party officials are reportedly coming to the US to campaign for Harris.  The arrogance of these clowns is Macron-like.  Ya think swing state voters care what Labour Party officials think?  In fact, it will likely create yet another backlash against Harris.  Plus, it’s illegal!   @theamgreatness: Congresswoman Marjorie Taylor Greene (R-GA) has a strong warning for staff members of the UK’s Labour Party considering coming to the U.S. to campaign for Kamala Harris in key battleground states: “You are breaking FEC (Federal Election Commission) laws.”

SWAMP STORIES FOR YOU TONIGHT

:Kamala Harris Celebrates Hamas Chief’s Killing, After Loudly Opposing Operation That Got Him

Thursday, Oct 17, 2024 – 06:45 PM

Update(1600): Kamala Harris is hailing Israel’s killing of Hamas Leader Yahya Sinwar. But last spring as the IDF was poised to expand its operations further south into Rafah, she was firmly against it. She had even warned of “consequences” (which of course never came). Throughout the more than year-long conflict the Biden-Harris administration has been speaking out of both sides of its mouth. The contradictions abound. Of course, the first and foremost contradiction is that the administration has admitted that large-scale massacres of civilians have taken place in Gaza, yet continues to arm America’s “closest Mideast ally” to the teeth and to the tune of billions.

And now for the latest glaring contradiction, here’s Harris back in March:

Israel could face “consequences” if it launches a ground assault on the city of Rafah in southern Gaza, the US vice president has warned.

Vice President Kamala Harris said in an interview that aired on Sunday that it would be a “huge mistake” for the Israeli military to move on the city. The comments appear to underscore the continued strain in relations between Washington and Israel as the latter’s war in Gaza continues.

Below: But here she is today, offering a celebratory congratulations to Israel on the Hamas chief’s death, while trying to appear ‘presidential’ as a potential future commander-in-chief…

“Justice has been served, and the United States, Israel and the entire world are better off…”

It takes real chutzpah for Kamala to celebrate the killing of Hamas’ leader Sinwar after opposing the Rafah mission. pic.twitter.com/dSJWyFP1Iq

— Max Abrahms (@MaxAbrahms) October 17, 2024

One online commenter noted, “All she ever did was shout for a ceasefire, now she’s practically giving the US credit for defeating Hamas.”

She during the remarks underscored that this “moment gives us an opportunity to finally end the war in Gaza.” So far it appears that Netanyahu sees it differently, having stated that he’ll pursue the return of the hostages by any means possible (while appearing to rule out negotiations or ceasefire).

The IDF says this is video of Sinwar’s final moments alive, possibly after a fire-fight or his position was shelled:

Raw footage of Yahya Sinwar’s last moments: pic.twitter.com/GJGDlu7bie

— LTC Nadav Shoshani (@LTC_Shoshani) October 17, 2024

*END

Trump Brutally Roasts Dems; Schumer Shocked, Kamala ‘No Show’ At Al Smith Dinner

Friday, Oct 18, 2024 – 08:15 AM

The Al Smith dinner in New York City hosted president Trump Thursday night, seating him right next to Chuck Schumer, providing for some quality entertainment as Trump roasted the hell out of him and the Democrats.

As Steve Watson details below via Modernity.news, it was not a comfortable night for the Democrats…

Schumer was seen having an apparent cordial conversation with Trump before the dinner began.

Oh to be a fly on Chuck Schumer‘s head pic.twitter.com/bJVYSMdRHL

— Karli Bonne’ 🇺🇸 (@KarluskaP) October 18, 2024

Oh to be a fly on Chuck Schumer‘s head pic.twitter.com/bJVYSMdRHL— Karli Bonne’ 🇺🇸 (@KarluskaP) October 18, 2024

Maybe he was just preparing Schumer for the brutality about to unfold.

President Trump to Chuck Schumer: "Considering how woke your party has become, if Kamala loses, you still have a chance to become the first woman president."

🤣🤣🤣🤣
pic.twitter.com/MusYhgjkmI

— Steve Guest (@SteveGuest) October 18, 2024

President Trump to Chuck Schumer: “Considering how woke your party has become, if Kamala loses, you still have a chance to become the first woman president.”

🤣🤣🤣🤣
pic.twitter.com/MusYhgjkmI— Steve Guest (@SteveGuest) October 18, 2024

It just got better from there.

"Unfortunately, Governor Walz isn’t here himself. But don’t worry, he’ll say that he was." 🤣pic.twitter.com/fcfdfxNmJj

— Defiant World (@DefiantWorld) October 18, 2024

“Unfortunately, Governor Walz isn’t here himself. But don’t worry, he’ll say that he was.” 🤣pic.twitter.com/fcfdfxNmJj— Defiant World (@DefiantWorld) October 18, 2024

PRESIDENT TRUMP: "I used to think Democrats were crazy for saying that men have periods. But then I met Tim Walz." pic.twitter.com/Vl92TQnfbh

— Trump War Room (@TrumpWarRoom) October 18, 2024

PRESIDENT TRUMP: “I used to think Democrats were crazy for saying that men have periods. But then I met Tim Walz.” pic.twitter.com/Vl92TQnfbh— Trump War Room (@TrumpWarRoom) October 18, 2024

Pretty quickly Schumer looked like he didn’t want to be there.

Poor Schumer lookin like he wants to hide under the table.— Leslie ن 🇺🇸☦️ (@LADowd) October 18, 2024

The look of defeat.

PRESIDENT TRUMP: "There’s a group called 'White Dudes for Harris' but I’m not worried about them at all, because their wives and their wives’ lovers are all voting for me." 😂😂pic.twitter.com/hx4sQZUSYt

— Greg Price (@greg_price11) October 18, 2024

The look of a soon to be senate minority leader— Mike Curry (@Mike_Curry12) October 18, 2024

To no one’s shock at all Kamala Harris didn’t show up.

PRESIDENT TRUMP: "I hear that Kamala and her husband carve out some really beautiful alone time at the end of the day for an intimate dinner. Just Doug, her, and the teleprompter." pic.twitter.com/l2r5OqTPX8

— Trump War Room (@TrumpWarRoom) October 18, 2024

PRESIDENT TRUMP: “I hear that Kamala and her husband carve out some really beautiful alone time at the end of the day for an intimate dinner. Just Doug, her, and the teleprompter.” pic.twitter.com/l2r5OqTPX8— Trump War Room (@TrumpWarRoom) October 18, 2024

Boos at Al Smith dinner when it’s announced Kamala Harris “cannot make it here in person. We will be joined by her later via video” … pic.twitter.com/HLBmImJSNM— Howard Mortman (@HowardMortman) October 18, 2024

Boos at Al Smith dinner when it's announced Kamala Harris "cannot make it here in person. We will be joined by her later via video" … pic.twitter.com/HLBmImJSNM

— Howard Mortman (@HowardMortman) October 18, 2024

PRESIDENT TRUMP: “I was shocked when I heard that Kamala was skipping the Al Smith dinner. I’d really hoped she would come because we can’t get enough of hearing her beautiful laugh.” pic.twitter.com/AVTjgz7kox— Trump War Room (@TrumpWarRoom) October 18, 2024

Instead, she sent a pre-recorded mega cringe message that went over like a fart in church.

PRESIDENT TRUMP: "I was shocked when I heard that Kamala was skipping the Al Smith dinner. I’d really hoped she would come because we can’t get enough of hearing her beautiful laugh." pic.twitter.com/AVTjgz7kox

— Trump War Room (@TrumpWarRoom) October 18, 2024

NEW: Kamala Harris releases her pre-recorded video for the Al Smith dinner in New York that she didn’t show up for.

https://twitter.com/i/status/1847090546172448798

Comedian Jim Gaffigan made fun of the Vice President after the crowd gave a dismal applause once it ended.

Cringe. pic.twitter.com/9dvsYQub9h— Collin Rugg (@CollinRugg) October 18, 2024

PRESIDENT TRUMP: "The fact is, we need new leadership in this country. Right now we have someone in the White House who can barely talk, barely put together two coherent sentences, who seems to have the mental faculties of a child… But enough about Kamala Harris." pic.twitter.com/SNDNSedqwO

— Trump War Room (@TrumpWarRoom) October 18, 2024

PRESIDENT TRUMP: “The fact is, we need new leadership in this country. Right now we have someone in the White House who can barely talk, barely put together two coherent sentences, who seems to have the mental faculties of a child… But enough about Kamala Harris.” pic.twitter.com/SNDNSedqwO— Trump War Room (@TrumpWarRoom) October 18, 2024

Here’s is Trump’s entire roast:

🔥 MUST WATCH: President Trump's roast at the annual Alfred E. Smith Memorial Foundation Dinner

(Kamala skipped it because she's a coward) pic.twitter.com/m5GcbkYP9y

— Trump War Room (@TrumpWarRoom) October 18, 2024

🔥 MUST WATCH: President Trump’s roast at the annual Alfred E. Smith Memorial Foundation Dinner

(Kamala skipped it because she’s a coward) pic.twitter.com/m5GcbkYP9y— Trump War Room (@TrumpWarRoom) October 18, 2024

Host Jim Gaffigan also took it to the Democrats

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Jim Gaffigan: “The Democrats have been telling us Trump’s reelection is a threat to democracy. In fact, they were so concerned of this threat, they staged a coup, ousted their democratically elected incumbent, and installed Kamala Harris.” pic.twitter.com/ZVgqMbT2p5— Trump War Room (@TrumpWarRoom) October 18, 2024

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-13&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1847084817185137064&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Ftrump-brutally-roasts-dems-schumer-shocked-kamala-no-show-al-smith-dinner&sessionId=36ca27deb2b7e63af7090038992da3d1d2ea3bfe&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

Jim Gaffigan: “President Biden couldn’t be here tonight. The DNC made sure of that.” 😂 pic.twitter.com/UW0F3B7968— Trump War Room (@TrumpWarRoom) October 18, 2024

*  *  *

END

this should be interesting!

(zerohedge)

CBS Hit With FCC Complaint Charging “Significant And Intentional News Distortion” Over Edited Kamala Interview

Friday, Oct 18, 2024 – 01:30 PM

Authored by Steve Watson via Modernity.news,

CBS News has been formally issued with an FCC complaint regarding its surreptitious editing of Kamala Harris’ 60 Minutes interview.

The complaint charges that the network engaged in “significant and intentional news distortion.”

Edited and unedited portions of the interview were shared side by side as it became clear CBS was attempting to make Harris appear less incompetent.

Holy. Shit.

60 Minutes cut Kamala’s nonsense answer on Israel and replaced it with a completely seperate sentence she said earlier in the interview…

Mixing and matching questions and answers. This isn’t journalism. It’s fraud.pic.twitter.com/onXli46xL6

— Geiger Capital (@Geiger_Capital) October 8, 2024

Fox News reports that The Center for American Rights argues that the discrepancies “amount to deliberate news distortion — a violation of FCC rules governing broadcasters’ public interest obligations.”

The complaint seeks to force CBS to release an unedited transcript of the interview to set the record straight.

“This isn’t just about one interview or one network,” CAR president Daniel Suhr said in a statement. 

“This is about the public’s trust in the media on critical issues of national security and international relations during one of the most consequential elections of our time,” Suhr continued.

He added, “When broadcasters manipulate interviews and distort reality, it undermines democracy itself. The FCC must act swiftly to restore public confidence in our news media.”

As we highlighted, despite CBS News’ best efforts to make Harris appear coherent, she still came across as totally unprepared and rambling.

Harris Exposed As Incompetent In Car Crash 60 Mins Interview

Things have only gone from bad to worse from there.

*  *  *

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GREG HUNTER

SEE YOU ON MONDAY