GOLD PRICE CLOSED UP $22.15 TO $2745.60

SILVER PRICE UP $0.93 TO $34.81

Gold ACCESS CLOSED $2747.50

Silver ACCESS CLOSED: $34.80

Bitcoin morning price:$67,328 down 188 DOLLARS.

Bitcoin: afternoon price: $67,537 DOWN 21 DOLLARS

Platinum price closing UP $24.96 TO $1032.10

Palladium price; UP 23.35 TO $1082.35

END

*CANADIAN GOLD: $3797.70 UP 34.50 CDN dollars per oz( * NEW ALL TIME HIGH 3,797.70 CDN DOLLARS PER OZ//OCT 22 2024)

*BRITISH GOLD: 2110.33 UP 20.62 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2110.33 BRITISH POUNDS/OZ) OCT 22/2024

*EURO GOLD: 2,544.58 UP 10.90 Euros per oz //* (ALL TIME CLOSING HIGH: 2.544/58 EUROS PER OZ//OCT 22 //.2024)

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EXCHANGE

Gold ACCESS CLOSED 2036.00

Silver ACCESS CLOSED: 22.93EXCHANGE: COMEX
CONTRACT: OCTOBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,723.100000000 USD
INTENT DATE: 10/21/2024 DELIVERY DATE: 10/23/2024
FIRM ORG FIRM NAME ISSUED STOPPED

363 H WELLS FARGO SEC 39
661 C JP MORGAN 2
686 C STONEX FINANCIA 22
737 C ADVANTAGE 6
905 C ADM 10 1

TOTAL: 40 40

JPMorgan stopped 0/26

GOLD: NUMBER OF NOTICES FILED FOR OCT/2024. CONTRACT: 40 NOTICES FOR 4000 OZ or 0.1244 TONNES

total notices so far: 12,540 contracts for 1,254,000 Oz (39/000 tonnes)

FOR OCT

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

total number of notices filed so far this month : 1358 for 6.790 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 $22.15 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.16 TONNES OF GOLD INTO THE GLD..

/ /INVENTORY RESTS AT 891.79 TONNES

INVENTORY RESTS AT 891.79 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $0.93 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY INTO THE SLV: A DEPOSIT OF 3.329 MILLION OZ OF SILVER INTO THE SLV

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 478.089 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A HUMONGOUS SIZED 1942 CONTRACTS TO 153,012 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS STRONG GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR HUGE GAIN OF $0.83 IN SILVER PRICING AT THE COMEX ON MONDAY’S TRADING. WE HAD A HUMONGOUS GAIN OF 2966 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH THE GAIN OF $0.83 IN PRICE. WE HAD SOME LIQUIDATION OF T.A.S. CONTRACTS ON MONDAY DESPERATELY TRYING TO CONTAIN SILVER’S PRICE RISE.. //. WE HAD ZERO SHORT COVERING BY OUR SPECS DURING THE COMEX TIME ZONE.. WE HAD A HUGE 1024 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A HUGE 727 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING. IN ESSENCE WE GAINED A HUGE 2966 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 MONDAY NIGHT: A HUGE 727 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS BUT TO NO AVAIL. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.83) AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUMONGOUS GAIN OF 2966 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES

WE HAD A HUGE 1024 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 190,000 OZ QUEUE JUMP+ .195 MILLION OZ ISSUANCE OF EXCHANGE FOR RISK PRIOR//NEW TOTAL 7.150 MILLION OZ

//NEW STANDING FOR SILVER//OCT AT 7.150 MILLION OZ

WE HAD:

/ HUGE SIZED COMEX OI GAIN//HUGE SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 727 CONTRACTS)/PLUS THAT STUPID ISSUANCE OF .195 MILLION OZ OF EXCHANGE FOR RISK THURSDAY, OCT 10

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL removed 200 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 15 DAYS, total 10,954 contracts: OR 54.770 MILLION OZ (730 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 54.770 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; 54.770 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH)

RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1942 CONTRACTS WITH OUR $0.83 GAIN IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 1024 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 190,000 OZ TO WHICH WE ADD .195 MILLION OZ OF EXCHANGE FOR RISK ISSUANCE/PRIOR

//NEW TOTAL STANDING FOR OCT AT 7.150 MILLION OZ

WE HAVE A HUMONGOUS GAIN OF 2966 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 727 CONTRACTS ( WILL BE USED FOR TUESDAY’S TRADING),//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX SESSION, TRYING TO CONTAIN SILVER’S PRICE RISE.

/ ZERO SHORT COVERING FROM OUR SPEC SHORTS DESPITE THE GAIN IN PRICE MONDAY/ . 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 FRIDAY NIGHT (727) 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 SMALL SIZED 730 OI CONTRACTS TO 567,444 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 8819 CONTRACTS//

WE HAD A VERY SMALL SIZED INCREASE IN COMEX OI (730 CONTRACTS) OCCURRED WITH OUR GAIN OF $9.30 IN PRICE MONDAY. 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 4000 OZ QUEUE JUMP

NEW STANDING ADVANCES TO 39.154 TONNES+ + 20.917 TONNES EXCHANGE FOR RISK/PRIOR// = 60.071 TONNES

/ ALL OF THIS HAPPENED WITH OUR $9.30 GAIN IN PRICE WITH RESPECT TO MONDAY’S COMEX TRADING///. WE HAD A GOOD SIZED GAIN OF 5633 OI CONTRACTS (17,52 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 THROUGHOUT 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 4903 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 567,444

IN ESSENCE WE HAVE A SMALL SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5633 CONTRACTS WITH 730 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 4903 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 14,452 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1347 CONTRACTS, WE HAD ZERO LIQUIDATION OF T.A.S CONTRACTS WITH OUR GAIN IN PRICE MONDAY.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4903 CONTRACTS) ACCOMPANYING THE SMALL SIZED INCREASE IN COMEX OI OF 730 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 14,452 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 4000 OZ QUEUE JUMP + 20.9188 ISSUANCE OF EXCHANGE FOR RISK/PRIOR.

//NEW STANDING ADVANCES TO TO: /OCT 39.154 TONNES. + 20.917 EX, FOR RISK/PRIOR = 60.071 TONNES

/ 3) MINOR ATTEMPTED T.A.S. LIQUIDATION (TRYING TO CONTAIN GOLD’S PRICE RISE0 WITH ZERO NET LONG SPECS BEING CLIPPED,

4) VERY STRONG SIZED COMEX OPEN INTEREST INCREASE 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 1247 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: 54,376 CONTRACTS OF 5,437,600 OZ OR 169.13 TONNES IN 15 TRADING DAY(S) AND THUS AVERAGING: 3625 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 15 TRADING DAY(S) IN TONNES 169.13 TONNES

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

THUS EFP TRANSFERS REPRESENTS 169.13 DIVIDED BY 3550 x 100% TONNES = 4.76% 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. 169.13 TONNES (THIS WILL BE A WEAKER ISSUANCE THIS MONTH)

SPREADING OPERATIONS

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

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

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

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

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

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

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

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A HUMONGOUS SIZED 1942 CONTRACTS OI TO 153,212 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 1024 CONTRACTS

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

DEC 1024 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1024 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 1942 CONTRACTS AND ADD TO THE 1024 E.FP. ISSUED

WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3,166 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 15.830 MILLION OZ OCCURRED WITH OUR $0.83 GAIN IN PRICE

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING MONDAY NIGHT

ASIA TRADING/TUESDAY MORNING/MONDAY NIGHT

SHANGHAI CLOSED UP 17.76 PTS OR 0.54%

//Hang Seng CLOSED UP 20.49 PTS OR 0.10%

// Nikkei CLOSED DOWN 524.64 PTS OR 1.39%//Australia’s all ordinaries CLOSED UP 0.62%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1240 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1338// Oil UP TO 71.24 dollars per barrel for WTI and BRENT UP AT 74.83 Stocks in Europe OPENED ALL RED

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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A VERY SMALL SIZED 730 CONTRACTS TO 567,444 WITH OUR STRONG GAIN IN PRICE OF $9.30 WITH RESPECT TO MONDAY’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 (4903). AND THINGS MUST BE DESPERATE AS FIRSTLY ON 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, ON THURSDAY, OCT 10 WE RECEIVED NOTICE OF A SECOND ISSUANCE OF EXCHANGE FOR RISK, AT 239 NOTICES OR 23,900 OZ (.7433 TONNES). LAST NIGHT ZERO EXCHANGE 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 AND 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 4903 EFP CONTRACTS WERE ISSUED: : /DEC 3459 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4903 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD DELIVERED COMES FROM LONDON.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED TOTAL OF 5633 CONTRACTS IN THAT 4903 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A VERY SMALL GAIN OF 730 COMEX CONTRACTS..AND THIS HUGE GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR STRONG ADVANCE IN PRICE OF $9.30 FRIDAY// 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 FRIDAY NIGHT, A FAIR SIZED 1347 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.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: OCT (60.071 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 39.154 TONNES + + 20.917 TONNES EXCHANGE FOR RISK PRIOR =60.071 TONNES

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $9.30/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A GOOD SIZED GAIN IN OUR TWO EXCHANGES. WE DID HAVE CONSIDERABLE T.A.S. SPREADER LIQUIDATION MONDAY 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 MONDAY EVENING.

WE HAVE GAINED A TOTAL OF 17L52 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR OCT (33.651TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 4000 OZ QUEUE JUMP PLUS + 20.917 TONNES OF EXCHANGE FOR RISK//PRIOR

//NEW STANDING FOR OCT 39.154 TONNES.+ + 20.917 TONNES (EXCHANGE FOR RISK

NEW STANDING FOR OCT 39.154 TONNES + 20.917 TONNES EXCHANGE FOR RISK/PRIOR= 60.071 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR STRONG GAIN IN PRICE TO THE TUNE OF $9.30

WE HAD 8819 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 5633 CONTRACTS OR 563300 OZ (17.52 TONNES)

confirmed volume MONDAY 225,540 contracts fair

//speculators have left the gold arena

END

OCT 22 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*
No of oz served (contracts) today	40 notice(s) 4000 OZ 0.1244 TONNES
No of oz to be served (notices)	48 contracts 4800 OZ 0.1493 TONNES
Total monthly oz gold served (contracts) so far this month	12,540 notices 1,254,000oz 39.000 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

I) 65,105.760 oz JPMorgan: dealer to customer (2025 kilobars)

II) 482.265 OZ (LOOMIS) dealer to customer (15 kilobars)

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.

For the front month of OCT: we have an oi of 88 contracts having GAINED 14 contracts

We had 26 contracts filed on MONDAY so we GAINED 40 contracts on our two exchanges or 40 CONTRACTS underwent a 4000 oz queue jump. This is central bank action grabbing all the physical they can.

NOVEMBER LOST 95 CONTRACTS TO STAND AT 1343

DECEMBER, THE BIGGEST DELIVERY MONTH GAINED 4435 CONTRACTS TO 447,540

We had 26 contracts filed for today representing 2600 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 2 notices issued from their client or customer account. The total of all issuance by all participants equate to 40 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account

To calculate the INITIAL total number of gold ounces standing for OCT /2024. contract month, we take the total number of notices filed so far for the month (12,540 x 100 oz ) to which we add the difference between the open interest for the front month of OCT(88 CONTRACTS) minus the number of notices served upon today (40 x 100 oz per contract( equals 1,258,800 OZ OR 39.154 TONNES. TO WHICH WE ADD THAT STUPID 20.917 TONNES OF EXCHANGE FOR RISK PRIOR, NEW TOTAL = 60.071 TONNES

thus the INITIAL standings for gold for the OCTOBER contract month: No of notices filed so far (12,540 x 100 oz +we add the difference for front month of OCT (88 OI} minus the number of notices served upon today (40 x 100 oz which equals 1,258,800 oz (39.154 TONNES) + 20.917 EX. FOR RISK DELIVERY /PRIOR = 60.071 TONNES

TOTAL COMEX GOLD STANDING FOR OCT.: 60.1071 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: 1,652,970.049 oz 51.41 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 16,992,783.935 OZ

TOTAL REGISTERED GOLD 7,746,692.835/// 240.95tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 9,246,091.100OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,093,822 oz (REG GOLD- PLEDGED GOLD)= 189.54 tonnes //

END

SILVER/COMEX

OCT 22 2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	664,968.710 oz DELAWARE MANFRA .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	1,270,353.310 oz Brinks Asahi Delaware
No of oz served today (contracts)	8 CONTRACT(S) (40,000 OZ)
No of oz to be served (notices)	32 contracts (160,000oz)
Total monthly oz silver served (contracts)	1358 Contracts (6.790 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 3 customer deposits

i) Into ASAHI: 593,877.900 oz

ii) Into Brinks 675,445.010 oz

iii) Into Delaware: 1010.460 oz

total customer deposits 1,270,353.310 oz oz

We had 2 withdrawals

i) out of Delaware 1021.200 oz

ii) Out of Manfra 6004,363.380 oz

total withdrawal 664,968.730 oz

JPMorgan has a total silver weight: 134.401million oz/307.197million or 44.11%

adjustment 1

brinks/dealer to customer: 687,768.290 oz

TOTAL REGISTERED SILVER: 68.449MILLION OZ//.TOTAL REG + ELIGIBLE. 307.17million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR OCT

silver open interest data:

FRONT MONTH OF OCT /2024 OI: 40 OPEN INTEREST FOR A GAIN OF 9 CONTRACTS

WE HAD 29 CONTRACTS SERVED ON MONDAY SO WE GAINED 38 CONTRACTS OR WE ENTERTAINED A 190,000 OZ QUEUE JUMP

NOVEMBER SAW A GAIN OF 27 CONTRACTS TO STAND AT 808

DECEMBER SAW A GAIN OF 1107 CONTRACTS UP TO 126,760 CONTRACTS

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

CONFIRMED volume; ON MONDAY 111,107 huge

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 1358x 5,000 oz = 6.790 MILLION oz

to which we add the difference between the open interest for the front month of OCT (40) 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: 1358 Notices served so far) x 5000 oz + OI for the front month of OCT(40) number of notices served upon today minus (40)x 5000 oz of silver standing for the OCT contract month + .195 million oz ex. for risk/PRIOR equates to 7.150 MILLION OZ.

New total standing: 7.150 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 22 WITH GOLD UP $22.15 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.16 TONNES // // . // .///INVENTORY RESTS AT 891.79 TONNES

OCT 21 WITH GOLD UP $9.30 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.277 TONNES // // . // .///INVENTORY RESTS AT 888.63 TONNES

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: 891.79 TONNES, TONIGHTS TOTAL

SILVER

OCT 22 WITH SILVER $0.93 : HUGE CHANGES IN SILVER INVENTORY AT THE SLV’ A DEPOSIT OF 3.329 MILLION OZ OF SILVER INTO THE SLV..//// //INVENTORY AT SLV RESTS AT 478.089 MILLION OZ

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 478.089 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

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

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

Clint Siegner: Regulators won’t stop big bank malfeasance

Submitted by admin on Mon, 2024-10-21 18:11 Section: Daily Dispatches

By Clint Siegner
Money Metals Exchange, Eagle, Idaho
Monday, October 21, 2024

TD Bank just made headlines for pleading guilty to the crime of money laundering and a variety of other charges.

Bankers there provided services to despicable people who needed a way to recycle the cash proceeds acquired by selling everything from drugs to children.

TD Bank, which will pay a total of $3.09 billion in fines, is yet another giant bank with a long rap sheet.

… For the remainder of the commentary:

https://www.moneymetals.com/news/2024/10/21/regulators-wont-stop-big-bank-malfeasance-003552

END

James Turk says $50+ silver is days or weeks away, not months

Submitted by admin on Mon, 2024-10-21 18:02 Section: Daily Dispatches

From King World News
Sunday, October 20, 2024

Today GoldMoney founder James Turk warned King World News that $50 silver is days or weeks away, not months.

“You know what I find noteworthy about all these record highs in gold, Eric? It’s the lack of excitement normally seen at bull market tops

“Few people are paying attention. That usually means a bull market has much further to run, from which we can presume that gold at $2700 is still early in this uptrend.

“So today looks to me like the early stage of other great bull markets in gold I’ve lived through since 1971. It’s like $45 in 1971 on its way to $200 two years later, or $100 in 1976 then climbing to its 1980 high of $850, or $340 in 2002 on its way to $1900 in 2011 after the Great Financial Crisis.

“The current uptrend began in November 2023 when gold finally hurdled $2,000 into new record highs. Since then it has been stair-stepping its way higher to new records, as we can see in this chart. …

… For the remainder of the report:

James Turk Says $50+ Silver Is Days Or Weeks Away, Not Months

Jan Nieuwenhuijs: A major shift as Western investors start buying gold

Submitted by admin on Tue, 2024-10-22 09:40 Section: Daily Dispatches

By Jan Nieuwenhuijs
Money Metals Exchange, Eagle, Idaho
Tuesday, October 22, 2024

In the past two years the East has been responsible for a momentous move upward in the gold price, decoupling it from the West’s pricing model. But Western investors have taken back the baton and have been driving gold higher since June 2024.

Tellingly, Western investors are abandoning their old pricing model too. Instead of participating in the gold market for speculative reasons, they are now buying gold as a safe haven. This is highly bullish because Wall Street has little exposure to gold.

Meanwhile, on a net basis, the East is not selling. In this tight market, the gold price is sharply rising: year-to-date, it’s up more than 30%. …

… For the remainder of the analysis:

https://www.moneymetals.com/news/2024/10/22/major-shift-revealed-as-western-investors-suddenly-run-to-gold-003554

* * *

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

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

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING TUESDAY MORNING/MONDAY NIGHT

SHANGHAI CLOSED UP 17.76 PTS OR 0.54%

//Hang Seng CLOSED UP 20.49 PTS OR 0.10%

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

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

ONSHORE YUAN: CLOSED DOWN AT 7.1240

OFFSHORE YUAN: DOWN TO 7.1338

SHANGHAI CLOSED CLOSED UP 17.76 PTS OR 0.54%

HANG SENG CLOSED CLOSED UP 20.49 PTS OR 0.10%

2. Nikkei closed DOWN 524.64 POINTS OR 1.39%

3. Europe stocks SO FAR: ALL RED

USA dollar INDEX UP TO 103.80 EURO RISES TO 1.0816 UP 6 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.965 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 160.86…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now ABOVE 17,000

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

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

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

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

3g Oil 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 +2.3179 Italian 10 Yr bond yield UP to 3.539 //SPAIN 10 YR BOND YIELD UP TO 3.021

3i Greek 10 year bond yield UP TO 3.173

3j Gold at $2736.10 /Silver at: 34.43 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 25/100 roubles/dollar; ROUBLE AT 96.55

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

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 150.86 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.965% 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 0.8657 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9365 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: 4.203 UP 2 BASIS PTS…

USA 30 YR BOND YIELD: 4.491 UP 1 BASIS PTS/

USA 2 YR BOND YIELD: 4.052 UP 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.25…

10 YR UK BOND YIELD: 4.203 UP 5 PTS

10 YR CANADA BOND YIELD: 3.278 UP 4 BASIS PTS

5 YR CANADA BOND YIELD: 3.053 UP 3 PTS.

2a New York OPENING REPORT

Futures Slide As Global Yields Surge

Tuesday, Oct 22, 2024 – 08:17 AM

US futures are lower, extending yesterday’s losses, as treasuries extended their recent rout sending 10Y yields surging briefly above 4.22% before retracing some of the move as traders priced in the growing probability of a red sweep. The Treasury rout has gone global, pushing interest rates across the world higher. As of 8am ET, S&P 500 futures dropped 0.3%, pointing to the first back-to-back decline in about 30 sessions for the gauge. Nasdaq 100 futures underperformed, dropping 0.4%, as tech stocks start to groan against the weight of surging rates; megacap tech all showed declines: TSLA -0.8%, GOOG -0.5%, AMZN -0.5%. The yield on 10-year Treasuries added one basis point to 4.21% after an 11 basis-point surge at the start of the week; the USD is flattish after reversing a modest earlier loss. Commodities are mixed: Oil added 0.5%, base metals are lower, and precious metals are higher: silver rises +1% to $34.5, a new 12 year high. The only macro today are the October Philly Fed and Richmond Fed reports.

In premarket trading, Philip Morris rises 2% after lifting its profit outlook amid strong sales of tobacco alternatives such as Zyn and IQOS. 3M climbed 4% after increasing the low end of its 2024 profit forecast and reporting 3Q earnings that topped analyst estimates as a push to boost productivity gained traction. Polaris tumbled 7% after the automaker lowered its full-year earnings per share and sales guidance. Here are some of the biggest US movers today:

Cheesecake Factory (CAKE) gains 3% following a report that activist investor JCP Investment Management has built a stake in the restaurant chain.
Danaher (DHR) rises 2% after the life-sciences firm reported 3Q profit and sales that topped the average analyst estimate.
General Electric (GE) drops 4% as sales fell short of Wall Street’s expectations last quarter, tempering enthusiasm for its improved profit outlook as the jet engine maker grapples with supply-chain limitations that are weighing on deliveries.
General Motors (GM) ticks 1% higher after signaling solid US demand for its highest-margin vehicles even as the broader market softens, posting better-than-expected results for the latest quarter.
IRhythm (IRTC) jump 20% after the company said it received FDA 510(k) clearance for design updates to its Zio AT device.
Medpace (MEDP) drops 12% after the health care services company cut its revenue forecast for the full year.
Zions (ZION) rises 2% as 3Q earnings per share beat estimates.

Investors further pared paring back their expectations for Fed rate cuts after central bank officials indicated a preference for reducing rates at a slower pace after recent resilient economic data. The inflationary impact of a possible Donald Trump presidential win is also weighing, given his promised tax cuts and trade tariffs could ultimately entail higher rates.

“This is very clearly linked to trading a victory of the Republicans — and therefore to an agenda which would be much more inflationist than that of the Democrats. We’re in a market that is betting on Trump,” said Christopher Dembik, senior investment adviser at Pictet Asset Management. “The rise in yields is starting to threaten equity markets.” (see more here “Wall Street Going “All-In On Trump“.”)

Elsewhere, exposure to the S&P 500 has reached levels that were followed by a 10% slump in the past, Citigroup Inc. strategists said. Still, despite the mounting risks, the current winning streak for US stocks ranks among the very best since 1928, according to data compiled by SentimenTrader. And even though US equities are expensive, going underweight is a tough call for investors in the environment where S&P 500 reached 47 record highs this year starting from January, said Vera Fehling, DWS Europe chief investment officer.

“If you said then: ‘things are looking quite stretched’ — you would have massively underperformed,” she added. “It’s difficult to explain going into the end of such a year with a significant underweight in US equities.”

European equities appear cheap by comparison and got even cheaper on Tuesday after the Stoxx 600 benchmark declined 0.8%, led by real estate and utilities sectors, which suffer when the cost of borrowing money rises. Major markets are all lower (UKX -0.6%, SX5E -0.4%, SXXP -0.7%, DAX -0.1%.) with Spain lagging. SAP is driving the tech sector to outperform after the German software giant delivered a beat on several key metrics in the third quarter and boosted some elements of its guidance for the full year. ING shares slip as Barclays downgraded the bank to equal-weight from overweight. Here are the most notable European movers:

SAP shares gain as much as 5.9%, reaching a record high, after the software giant delivered a beat on several key metrics in 3Q and boosted some elements of its guidance for the full year.
DNB Bank shares advance as much as 5.1% after Norway’s largest lender reported what Citi says were “impressive” quarterly results, with revenue beating estimates amid the best 3Q for fees.
ING shares decline as much as 1.7%, the worst-performing stock on the Stoxx 600 Banks Index, as Barclays cut the recommendation on the lender to equal-weight from overweight.
Traton shares rise as much as 5.4% after the truck maker issued preliminary third-quarter results ahead of expectations, with its International and Scania units driving the beat.
Logitech shares gain as much as 4.2% after the Swiss maker of computer accessories boosted its operating income expectations for the full year.
Saab shares advance as much as 5.9%, the most since June, as analysts praise the Swedish defense firm’s third-quarter order intake and cash flow.
Boliden shares climb as much as 7.5%, after the miner reported 3Q revenue that beat the average analyst estimate, with Morgan Stanley noting mines and smelter-production volumes came in higher than expected.
Randstad shares rise as much as 5.1% after the Dutch staffing company said that it has seen stable volumes in the first weeks of October, adding that it expects to benefit from easier 4Q comparables.
Morgan Sindall shares rise as much as 11% after the construction and regeneration group said its annual results will be significantly ahead of expectations, driven by its Fit Out division that designs, builds and refurbishes commercial and office spaces.
IHG shares drop as much as 2.8% after the hotel operator reported third-quarter revenue per available room that Morgan Stanley said missed consensus estimates.
Eurofins Scientific shares drop as much as 12% after the laboratory-testing company reported third-quarter revenue that missed estimates.
Hunting shares plunge as much as 19%, the most in over two years, after the energy services provider cut its annual earnings guidance due to challenges within its US onshore division that caused its Titan unit to disappoint, according to analysts.

So far about 47% of MSCI Europe companies reported results below expectations while only 27% delivered beats, according to data compiled by Bloomberg Intelligence. L’Oreal is set to report earnings later today, with analysts watching the impact of Chinese economic weakness on the stock.

Earlier in the session, Asian stocks fell on Tuesday, dragged by weakness in the technology and financial sectors, amid lower expectations for Federal Reserve interest-rate cuts. The MSCI Asia Pacific Index fell as much as 1.1%, with TSMC and Commonwealth Bank of Australia among the biggest drags. The decline follows comments from some US central bank officials signaling they favor a slower pace of rate reductions. Australian and Korean benchmarks were among the biggest decliners. Japanese stocks slid as uncertainty surrounding the Oct. 27 general election weighed on local markets. Stocks in India were also lower, led by automakers amid lackluster trading debut for Hyundai Motor Co.’s local unit. Stocks gained in Hong Kong after declining on Monday. China’s commitment to delivering stimulus is an ongoing focal point for traders in addition to the US presidential vote, which is about two weeks away. Focus is also turning to earnings performance this results season, which could help determine the near-term path for the MSCI Asia gauge.

In FX, the Bloomberg Dollar Spot Index was flat after rallying 0.4% on Monday. One-month implied volatility in BBDXY stands above 9.61, fresh cycle high; risk reversals on the tenor steady around 0.5 vol The Australian and New Zealand dollars outperformed their Group-of-10 peers as higher bond yields and gains in Chinese equities boosted sentiment.

In rates, treasuries fell for a second day, adding to Monday’s steep selloff as Fed officials indicated a preference for reducing rates at a slower pace. US 10-year yields rise 2 bps, topping 4.2% for the first time since July. Oil also continues to rise, adding to upward pressure on yields from shifting Fed policy outlook and focus on next month’s US presidential election and fiscal outlook. European government bond are also lower, with UK and German 10-year borrowing costs rising 3 bps and 4 bps respectively. Italy 10-year is ~3bp cheaper vs Treasuries, underperforming amid 7- and 30-year bond syndication. Treasury auctions this week include Wednesday’s $13b 20-year bond reopening and a $24b 5-year TIPS sale Thursday.

In commodities, oil prices reversed course, with WTI now up 0.5% at $71 a barrel. Spot gold rises $13 to just below Monday’s record high. Gold rose – approaching Monday’s record high – with haven demand coming from traders focused on the conflict in the Middle East and the looming US vote. Silver jumped 1% to hit $34.50, a new 12 year high.

US economic data calendar includes October Philadelphia Fed non-manufacturing activity (8:30am) and Richmond Fed manufacturing index (10am); Fed’s Harker is scheduled to speak at 10am

Market Snapshot

S&P 500 futures down 0.3% to 5,877.00
Brent Futures down 0.5% to $73.95/bbl
Gold spot up 0.6% to $2,736.07
US Dollar Index down 0.10% to 103.90

Top Overnight News

Share buybacks on mainland China’s biggest exchanges have soared to a record high this year as Beijing pushes for companies to return cash to shareholders as part of its efforts to revive a flagging stock market. There have been Rmb235bn ($33bn) in buybacks across mainland-listed shares so far in 2024, more than double last year’s total and far surpassing the previous record of Rmb133bn in 2022, according to Chinese financial data provider Wind. FT
U.S. rules that will ban certain U.S. investments in artificial intelligence in China are under final review, according to a government posting, suggesting the restrictions are coming soon. RTRS
China’s youth unemployment rate dips in Sept to 17.6%, down 120bp from 18.8% in August. CNBC
HSBC’s cost-cutting shakeup intensified. The lender said it will combine its global commercial and institutional banking operations, and create a new International Wealth and Premier Banking business. Pam Kaur was named as CFO. BBG
Israel is apparently considering an Egyptian proposal for a 2-week ceasefire in with Hamas in Gaza that could potentially build into a more permanent deal. NBC News
Federal Reserve Bank of San Francisco President Mary Daly said she expected the US central bank would continue cutting interest rates to guard against further weakening in the labor market. BBG
The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. BBG
US drinkers are continuing to cut back on their vodka, whisky and tequila intake in a sign that, despite the improved economic environment, consumers are finding higher prices hard to swallow. FT
GM shares jumped premarket after signaling solid US demand for its highest-margin vehicles, and raising the low end of its profit forecast. GE Aerospace reported a profit jump and raised its full-year guidance as the jet-engine maker capitalizes on its strong order book. BBG
Fed’s Daly (2024 voter) said the Fed will continue to adjust policy and a 50bps cut was to right-size policy, while she expects additional cuts going forward. Daly said the recent Fed rate cut was a close call and she came down strongly in favour of a 50bps cut, as well as noted that a 50bps cut was needed and they didn’t want to find out they had overtightened and taken jobs from people. She also said they will be data-dependent for the Fed’s November meeting and haven’t seen anything so far that would suggest they would not continue to cut rates, while she noted policy is absolutely still tight and would want to be open-minded to continue to ease policy if inflation is falling, even if the economy is strong.
Fed’s Schmid (2025 voter) called for a cautious, gradual and deliberate approach to rate cuts, while he prefers to avoid outsized rate cuts and noted that they are seeing a normalisation of the labour market, not a deterioration. Furthermore, Schmid said current policy is restrictive, but not very restrictive, as well as noted the balance sheet is probably influencing longer-term rates and that they should be normalising the Fed’s balance sheet on both size and duration.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed with participants somewhat cautious following the mostly negative bias stateside amid a lack of major catalysts, ongoing geopolitical tensions in the Middle East and a higher yield environment. ASX 200 retreated from the open with Real Estate and Healthcare leading the broad downturn seen across sectors. Nikkei 225 was pressured following its recent failure to hold on to the 39,000 level despite a weaker currency. Hang Seng and Shanghai Comp shrugged off early weakness to trade in the green albeit with price action choppy as the attention turned to earnings updates, while the PBoC conducted its first swap operation involving securities brokerages, funds and insurance companies worth CNY 50bln on Monday.

Top Asian News

Chow Tai Fook Jewellery (1929 HK) reports same store sales down 24.3%; HY revenue decreases by 18%; HY Net profit decreases by 42%.
China’s FX regulator said the Yuan exchange is basically stable at reasonable and balanced levels, while it added that cross-border capital turned to inflows in the first three quarters of this year and cross-border capital flow has been balanced since the start of 2024. Furthermore, it stated the FX market shows relatively strong resilience and market expectations and trading are in order overall.
FT article suggests that there is no sign yet of determined Chinese reforms or spending to spur more household consumption, despite many agreeing that President Xi’s thinking on stimulus has changed. Focus is reportedly still largely on repairing local governments’ and banks’ balance sheets.
China State Planner say China will continue to issue ultra long term special government bonds in 2025; and further optimise their allocation next year.

European bourses, Stoxx 600 (-0.2%) began the session mostly, but modestly on the backfoot, (ex-DAX 40 & Euro Stoxx 50; benefiting from post-earning strength in SAP) and have traded in a busy range throughout the morning; in recent trade, indicies are now broadly in the red, due to geopolitical updates out of Israel. European sectors hold a strong negative bias; Tech is by far and away the clear outperformer, lifted by post-earning strength in SAP (+5.4%). Real Estate is towards the foot of the pile, given the relatively higher yield environment. US Equity Futures (ES -0.1%, NQ -0.2%, RTY -0.4%) are modestly in the red to varying degrees and with slight underperformance in the RTY, which was subject to hefty selling pressure in the prior session. ASML (ASML NA) CEO says 2025 will be a growth year, the long term will still see growth. “Not everyone is surfing the AI wave”. “What we have seen in the last few months is people beginning to push the breaks”. “China demand is for mainstream chips, older generations of technology”. “Normal Chinese demand is for 20-25% of ASML’s sales, expect it to return to those levels”. “China may be able to produce some 5 or 3 nanometre chips, but few, using older tech”. It is clear the US will push for more export restrictions to China. “The Netherlands and Europe will start to discuss with China export restrictions make sense”

Top European News

UK Shadow Chancellor Hunt warned Chancellor Reeves against hiking business taxes ahead of next week’s Budget, according to FT.
Italy’s budget deficit seen at 3.9% of GDP in 2024 (exp. 3.8%); GDP expected to grow 0.8% in 2024 (exp. 0.9%) and 0.9% in 2025 (est. 1.1%)

USD is broadly slightly softer vs. peers and to varying degrees. That being said, DXY remains in close proximity to Monday’s 104.01 peak and above its 200DMA at 103.72.
EUR is marginally firmer vs. the USD but unable to scale back much of the downside from yesterday which saw the pair match last week’s multi-month low at 1.0810. Docket ahead sees a slew of ECB speakers.
Cable is continuing to pivot around the 1.30 mark within a 1.2980-1.3014 range. Focus today will be on today’s trio of BoE speakers with Governor Bailey being the obvious highlight, with focus on if he echoes his recent dovish rhetoric.
JPY is unable to claw back any of the losses vs. the USD seen during yesterday’s session which brought the pair above its 100DMA at 150.73 and breifly onto a 151 handle. If upside resumes, technicians flag the 200DMA at 151.34.
Antipodeans are both firmer vs. the USD and attempting to atone for recent losses. Overnight, AUD/USD printed a fresh low for the month at 0.6652 before paring losses (no clear fundamental driver was behind the move). NZD/USD has endured similar price action after recovering from a 0.6022 base overnight.
Goldman Sachs says the EUR could drop as much as 10% under Trump tariff and domestic tax cuts.

Fixed Income

Bunds are under pressure in a continuation of the action seen on Monday which was primarily a function of supply and energy upside. Bunds are around a 132.69 trough, having faded from Monday’s 133.06 low. The complex was fairly unreactive to a new German 2026 auction.
USTs are in-fitting with the above, and in a continuation of the “Trump trade” seen in the prior session. Region awaits its own supply which comes on Wednesday with a 20yr tap, but before that, Fed’s Harker.
Gilts are pressured in-fitting with the above and roughly in-line with peers. Docket ahead sees a Bank of England trio of Governor Bailey, Breeden and Greene. Currently just off a 96.67 base and erring back towards opening levels of 96.88.
Orders for Italy’s new seven-year over EUR 70bln (spread at 7bps) whilst 30-year BTP tap demand is in excess of EUR 80bln (spread at 9bps), according to Reuters.
UK sells GBP 900mln 0.625% 2045 I/L Gilt: b/c 3.57x (prev. 3.44x) & real yield 1.328% (prev. 1.20%).
Germany sells EUR 4.162bln vs exp. EUR 5.0bln 2.00% 2026 Schatz: b/c 2.61x, average yield 2.16%, and retention 16.76%.

Commodities

Crude oil is subdued following a firmer session on Monday despite a lack of fresh drivers but as markets still await Israel’s attack on Iran. The complex then lifted off worst levels amid reports that Israeli PM Netanyahu will hold consultations tonight with a specific number of his cabinet ministers at the headquarters of the Ministry of Defense in Tel Aviv, via Al Jazeera. Thereafer, reports that Iran was involved in the assassination attempt on Netanyahu, crude soared to session highs of USD 75.06/bbl.
Spot gold is firmer intraday with the complex buoyed by the aforementioned geopolitics, ahead of US elections, and with extra momentum after notching fresh all-time highs. XAU resides in a current USD 2,719-2,738.50/oz range.
Base metals are mostly firmer trade in the complex with gains in most industrial metals pinned on hopes of Chinese stimulus, although iron ore prices retreated with desks citing concerns of softening steel demand.
US is reportedly in talks with Southeast Asian nations to deploy small modular nuclear reactors, according to Bloomberg.
China crude steel output -6.1% Y/Y to 77.1mln tonnes in September 2024; global steel output -4.7% Y/Y to 143.6mln tonnes, according to worldsteel.

Geopolitics: Middle East

Israeli PM Netanyahu will hold consultations tonight with a specific number of his cabinet ministers at the headquarters of the Ministry of Defense in Tel Aviv, via Al Jazeera citing Israeli media.
“Officials at the Iranian embassy in Beirut are involved in the assassination attempt on PM Netanyahu. The Israeli investigation shows Iranian involvement in launching the drone towards Netanyahu’s house”, via Kans’ Kai on X citing Saudi Al-Hadath channel
“Al-Arabiya correspondent: Netanyahu meets today with security leaders in Tel Aviv after meeting with Blinken”, according to Al Arabiya
Israeli Home Front said sirens sounded in Haifa, its Gulf and dozens of cities and sites in northern Israel, while it was later reported that Israeli media and military announced sirens sounded in central Israel’s Samaria area, West Bank settlements, Acre and areas in upper Galilee.
Israel’s Channel 14 reported that the homes of senior officials in Iran were added as possible targets for Israeli attack and the Air Force will know the exact target of the attack shortly before implementation, according to Al Jazeera. Furthermore, Israel’s Channel 14 cited Israeli sources that stated plans for the strike against Iran were presented by the military leadership and the Mossad to the Prime Minister and Minister of Defence, according to Sky News Arabia.
US Secretary of State Blinken said he is heading to Israel and other stations in the region to discuss ending the war in Gaza, returning the hostages and alleviating the suffering of the Palestinians, according to Al Jazeera.

Geopolitics: Other

UK is to lend Ukraine an additional GBP 2.26bln for weapons to fight Russia with the loans to be repaid using interest generated from USD 300bln of Russian frozen assets, according to The Guardian.

US Event Calendar

08:30: Oct. Philadelphia Fed Non-Manufactu, est. 4.1, prior -6.1
10:00: Oct. Richmond Fed Business Conditio, prior -3
10:00: Oct. Richmond Fed Index, est. -17, prior -21

Central Bank Speakers

09:00: ECB’s Centeno Speaks in Washington
10:00: Fed’s Harker Speaks at Fintech Conference
10:00: Fed’s Harker Gives Opening Remarks

DB’s Jim Reid concludes the overnight wrap

Only two weeks until the big day. One that I’ve been looking forward to for what seems an exceptionally long time. Yes, the kids will go back to school after an extended 2-week half-term. As predicted last week my wife was already fed up with them last night after one day of holiday yesterday. The twins are so noisy! I’m off to Center Parcs with them all for a long weekend on Friday so I won’t be spared.

With two weeks to go today until the election, markets have started the week a bit more nervously than during the last 6 where the the S&P 500 has gone up each week for only the second time since the pandemic. Yesterday it started the week -0.18% but with bigger sell-offs elsewhere and extending into the Asian session this morning. The sell-off was much more pronounced among sovereign bonds though, with the 10yr Treasury yield (+11.3bps) reaching its highest level (4.20%) since late July, shortly before the weak payroll report, the Japanese mini-crash and the associated brief market turmoil. Moreover, the move was primarily driven by higher real yields, with the 10yr real yield (+10.2bps) moving up to 1.88%, which is its highest level since the end of July. Overnight, 10yr USTs are another +1.4bps higher as we go to print.

There were several factors behind the move but none that particularly dominated yesterday. In the background there has been a rising concern about debts and deficits, particularly ahead of the US election. Indeed, the IMF pointed out in their recent Fiscal Monitor that global public debt is forecast to exceed $100 trillion this year, and rise further in the medium term, so this is a growing issue as policymakers gather for the IMF/World Bank Annual Meetings in Washington this week. Moreover, our US economists have pointed out that irrespective of who wins the presidency or congress, they could see deficits in the 7-9% area over 2026-28, which is a level unprecedented outside of major wars or massive economic shocks like the GFC and Covid-19.

In addition to the long-end moves, expectations of Fed easing continue to drift lower, with Fed funds pricing for next March (+8.0bps to 4.05%) moving back above 4% for the first time since the start of August, after having fallen to below 3.4% in late September. This came as Fed speakers continued to express preference for gradual easing moving forward, with Kansas City President Schmid favouring “modest” reductions while Minneapolis Fed President Kashkari was “forecasting some more modest cuts”.
Another factor behind the bond selloff were growing inflation risks, and yesterday saw Brent crude oil prices (+1.68%) pick up again to $74.29/bbl. That comes amidst growing focus on Israel’s expected retaliation against Iran’s missile strikes earlier this month, which is still yet to materialise. But oil prices were reacting to several weekend developments, including the drone strike on the private home of Israeli PM Netanyahu that we mentioned yesterday. Indeed, foreign minister Israel Katz said over the weekend that there was “no doubt that another red line has been crossed here”. Meanwhile, although the classic safe haven of gold (-0.06%) closed marginally lower, after posting four consecutive session ATHs, this morning its +0.43% higher as I type and back at what would be record closing levels again.

Over in Europe, the bond selloff was even more aggressive, with yields on 10yr bunds (+9.9bps), OATs (+12.1bps) and BTPs (+15.3bps) all seeing large moves higher. In part, that’s because investors have pared back their expectations for a larger 50bp rate cut at the ECB’s December meeting, and we had a lot of commentary from several officials to digest as well. For instance, Lithuania’s Simkus said that he didn’t see the need for cuts bigger than 25bps, and Slovakia’s Kazimir said that the December meeting was “wide open”.

Back to the US election, the general consensus across polls, betting averages and forecasting models is that Trump has gained ground on Harris, but the race is still within the margin of error across the key battleground states. Now clearly that could change, but from a market perspective, the Trump bump has meant that beneficiaries of the “Trump trade” have continued to do well in recent sessions. Most notably, Trump Media & Technology Group (+5.81%) was up to its highest since July yesterday just after Biden pulled out of the Presidential race.

Returning to yesterday, equities struggled, particularly as bond yields kept on rising. The S&P 500 (-0.18%) posted a modest decline, but it was a broad-based one, with the equal weighted version of the index seeing its worst day in more than six weeks (-0.85%). Small-caps struggled in particular as the Russell 2000 (-1.60%) saw its worst day since early September. Information technology (+0.93%) was the only major sector within the S&P 500 to post a gain. The Mag-7 (+0.64%) advanced as Nvidia (+4.14%) hit a new record high, while the NASDAQ (+0.27%) moved to within half a percent of its all-time high from July. Over in Europe, markets closed around the intra-day lows of the US session, with the STOXX 600 (-0.66%) and the DAX (-1.00%) both losing significant ground.

Whilst there were several short-term catalysts for the selloff, it’s also worth bearing in mind that the market performance has been pretty incredible over recent months. Only last week, we saw US IG credit spreads reach their tightest level since 2005, and the S&P 500 is up for 37 of the last 51 weeks, which is a joint record back to 1989. This means that traditional valuation metrics are now looking increasingly stretched by historic standards, at a time when geopolitical risks are elevated and the soft landing is now increasingly priced in as the likely outcome, so it should in theory get harder from here. Henry took a look at some of these reasons for caution yesterday here.

Asian equity markets are mostly lower this morning. The S&P/ASX 200 (-1.68%) is the biggest underperformer in the region, followed by the Nikkei (-1.43%), the Topix (-1.14%), and the KOSPI (-1.17%). However, Chinese equities are defying the regional trend, with the Hang Seng (+0.41%) and the CSI 300 (+0.47%) posting gains. S&P 500 (-0.18%) and NASDAQ 100 (-0.26%) futures are edging lower. Aussie 10yr yields are +14.5bps with JGBs +2.6bps.

Early morning data showed that South Korea’s producer prices declined by -0.2% in September, matching the decline from the previous month.

There was very little data to speak of yesterday, although we did get the Conference Board’s leading index from the US. That showed a decline of -0.5% in September (vs. -0.3% expected). In level terms, that also left the index at its lowest level since May 2016. The monthly reading hasn’t been positive since February 2022 so the release has lost some of its shock value recently given how well growth as performed over the last few quarters. Separately in Germany, producer prices remained in deflationary territory in September, at -1.4% year-on-year (vs. -1.1% expected).

To the day ahead now, and central bank speakers include ECB President Lagarde, the ECB’s Centeno, Knot, Holzmann, Villeroy, Rehn and Panetta, the Fed’s Harker, BoE Governor Bailey, and the BoE’s Greene and Breeden. Otherwise, earnings releases include General Electric, General Motors and Verizon.

2B) European report

Oil surges on recent geopolitical updates; speakers & earnings ahead – Newsquawk US Market Open

Tuesday, Oct 22, 2024 – 05:43 AM

European bourses are entirely in negative territory, with initial outperformance in the DAX 40 (due to strong SAP results) now entirely erased; US futures are also lower.
Dollar is flat, Antipodeans outperform attempting to recoup some of its recent losses.
Bonds remain on the backfoot in a continuation of the pressure seen in the prior session
Crude was initially subdued, giving back some of the prior day’s gains; however, following two key geopolitical updates, the complex soared to session highs.
1) Israeli PM Netanyahu will hold consultations tonight with various cabinet ministers, 2) Iranian embassy officials were reportedly involved in the drone attempt on Netanyahu
Looking ahead, ECB’s Centeno, Knot, Lagarde & Lane, BoE’s Greene, Bailey & Breeden, Fed’s Harker, NBH Policy Announcement. Earnings from L’Oreal; Danaher, General Electric, Raytheon Technologies, 3M, General Motors, Philip Morris International, Sherwin-Williams, Fiserv, Verizon Communications, Lockheed Martin, Freeport-McMoRan & Texas Instruments.

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EUROPEAN TRADE

EQUITIES

European bourses, Stoxx 600 (-0.2%) began the session mostly, but modestly on the backfoot, (ex-DAX 40 & Euro Stoxx 50; benefiting from post-earning strength in SAP) and have traded in a busy range throughout the morning; in recent trade, indicies are now broadly in the red, due to geopolitical updates out of Israel.
European sectors hold a strong negative bias; Tech is by far and away the clear outperformer, lifted by post-earning strength in SAP (+5.4%). Real Estate is towards the foot of the pile, given the relatively higher yield environment.
US Equity Futures (ES -0.1%, NQ -0.2%, RTY -0.4%) are modestly in the red to varying degrees and with slight underperformance in the RTY, which was subject to hefty selling pressure in the prior session.
ASML (ASML NA) CEO says 2025 will be a growth year, the long term will still see growth. “Not everyone is surfing the AI wave”. “What we have seen in the last few months is people beginning to push the breaks”. “China demand is for mainstream chips, older generations of technology”. “Normal Chinese demand is for 20-25% of ASML’s sales, expect it to return to those levels”. “China may be able to produce some 5 or 3 nanometre chips, but few, using older tech”. It is clear the US will push for more export restrictions to China. “The Netherlands and Europe will start to discuss with China export restrictions make sense”
Click for the sessions European pre-market equity newsflow
Click for the additional news
Click for a detailed summary

FX

USD is broadly slightly softer vs. peers and to varying degrees. That being said, DXY remains in close proximity to Monday’s 104.01 peak and above its 200DMA at 103.72.
EUR is marginally firmer vs. the USD but unable to scale back much of the downside from yesterday which saw the pair match last week’s multi-month low at 1.0810. Docket ahead sees a slew of ECB speakers.
Cable is continuing to pivot around the 1.30 mark within a 1.2980-1.3014 range. Focus today will be on today’s trio of BoE speakers with Governor Bailey being the obvious highlight, with focus on if he echoes his recent dovish rhetoric.
JPY is unable to claw back any of the losses vs. the USD seen during yesterday’s session which brought the pair above its 100DMA at 150.73 and breifly onto a 151 handle. If upside resumes, technicians flag the 200DMA at 151.34.
Antipodeans are both firmer vs. the USD and attempting to atone for recent losses. Overnight, AUD/USD printed a fresh low for the month at 0.6652 before paring losses (no clear fundamental driver was behind the move). NZD/USD has endured similar price action after recovering from a 0.6022 base overnight.
Goldman Sachs says the EUR could drop as much as 10% under Trump tariff and domestic tax cuts.
Click for a detailed summary
Click for NY OpEx Details

FIXED INCOME

Bunds are under pressure in a continuation of the action seen on Monday which was primarily a function of supply and energy upside. Bunds are around a 132.69 trough, having faded from Monday’s 133.06 low. The complex was fairly unreactive to a new German 2026 auction.
USTs are in-fitting with the above, and in a continuation of the “Trump trade” seen in the prior session. Region awaits its own supply which comes on Wednesday with a 20yr tap, but before that, Fed’s Harker.
Gilts are pressured in-fitting with the above and roughly in-line with peers. Docket ahead sees a Bank of England trio of Governor Bailey, Breeden and Greene. Currently just off a 96.67 base and erring back towards opening levels of 96.88.
Orders for Italy’s new seven-year over EUR 70bln (spread at 7bps) whilst 30-year BTP tap demand is in excess of EUR 80bln (spread at 9bps), according to Reuters.
UK sells GBP 900mln 0.625% 2045 I/L Gilt: b/c 3.57x (prev. 3.44x) & real yield 1.328% (prev. 1.20%).
Germany sells EUR 4.162bln vs exp. EUR 5.0bln 2.00% 2026 Schatz: b/c 2.61x, average yield 2.16%, and retention 16.76%.
Click for a detailed summary

COMMODITIES

Crude oil is subdued following a firmer session on Monday despite a lack of fresh drivers but as markets still await Israel’s attack on Iran. The complex then lifted off worst levels amid reports that Israeli PM Netanyahu will hold consultations tonight with a specific number of his cabinet ministers at the headquarters of the Ministry of Defense in Tel Aviv, via Al Jazeera. Thereafer, reports that Iran was involved in the assassination attempt on Netanyahu, crude soared to session highs of USD 75.06/bbl.
Spot gold is firmer intraday with the complex buoyed by the aforementioned geopolitics, ahead of US elections, and with extra momentum after notching fresh all-time highs. XAU resides in a current USD 2,719-2,738.50/oz range.
Base metals are mostly firmer trade in the complex with gains in most industrial metals pinned on hopes of Chinese stimulus, although iron ore prices retreated with desks citing concerns of softening steel demand.
US is reportedly in talks with Southeast Asian nations to deploy small modular nuclear reactors, according to Bloomberg.
China crude steel output -6.1% Y/Y to 77.1mln tonnes in September 2024; global steel output -4.7% Y/Y to 143.6mln tonnes, according to worldsteel.
Click for a detailed summary

NOTABLE DATA RECAP

UK PSNB Ex Banks GBP (Sep) 16.613B GB vs. Exp. 17.5B GB (Prev. 13.734B GB, Rev. 13.022B GB)
UK PSNCR, GBP (Sep) -20.484B GB (Prev. 4.875B GB, Rev. 4.985B GB)
UK Net Debt as a % of GDP (Sep) 98.5% vs OBR Exp. 99% (prev. 100%, rev. 98.8%)

NOTABLE EUROPEAN HEADLINES

UK Shadow Chancellor Hunt warned Chancellor Reeves against hiking business taxes ahead of next week’s Budget, according to FT.
Italy’s budget deficit seen at 3.9% of GDP in 2024 (exp. 3.8%); GDP expected to grow 0.8% in 2024 (exp. 0.9%) and 0.9% in 2025 (est. 1.1%)

NOTABLE US HEADLINES

Fed’s Daly (2024 voter) said the Fed will continue to adjust policy and a 50bps cut was to right-size policy, while she expects additional cuts going forward. Daly said the recent Fed rate cut was a close call and she came down strongly in favour of a 50bps cut, as well as noted that a 50bps cut was needed and they didn’t want to find out they had overtightened and taken jobs from people. Furthermore, she said they will be data-dependent for the Fed’s November meeting and haven’t seen anything so far that would suggest they would not continue to cut rates, while she noted policy is absolutely still tight and would want to be open-minded to continue to ease policy if inflation is falling, even if the economy is strong.
Fed’s Schmid (2025 voter) called for a cautious, gradual and deliberate approach to rate cuts, while he prefers to avoid outsized rate cuts and noted that they are seeing a normalisation of the labour market, not a deterioration. Furthermore, Schmid said current policy is restrictive, but not very restrictive, as well as noted the balance sheet is probably influencing longer-term rates and that they should be normalising the Fed’s balance sheet on both size and duration.

GEOPOLITICS

MIDDLE EAST

Israeli PM Netanyahu will hold consultations tonight with a specific number of his cabinet ministers at the headquarters of the Ministry of Defense in Tel Aviv, via Al Jazeera citing Israeli media.
“Officials at the Iranian embassy in Beirut are involved in the assassination attempt on PM Netanyahu. The Israeli investigation shows Iranian involvement in launching the drone towards Netanyahu’s house”, via Kans’ Kai on X citing Saudi Al-Hadath channel
“Al-Arabiya correspondent: Netanyahu meets today with security leaders in Tel Aviv after meeting with Blinken”, according to Al Arabiya
Israeli Home Front said sirens sounded in Haifa, its Gulf and dozens of cities and sites in northern Israel, while it was later reported that Israeli media and military announced sirens sounded in central Israel’s Samaria area, West Bank settlements, Acre and areas in upper Galilee.
Israel’s Channel 14 reported that the homes of senior officials in Iran were added as possible targets for Israeli attack and the Air Force will know the exact target of the attack shortly before implementation, according to Al Jazeera. Furthermore, Israel’s Channel 14 cited Israeli sources that stated plans for the strike against Iran were presented by the military leadership and the Mossad to the Prime Minister and Minister of Defence, according to Sky News Arabia.
US Secretary of State Blinken said he is heading to Israel and other stations in the region to discuss ending the war in Gaza, returning the hostages and alleviating the suffering of the Palestinians, according to Al Jazeera.

OTHER

UK is to lend Ukraine an additional GBP 2.26bln for weapons to fight Russia with the loans to be repaid using interest generated from USD 300bln of Russian frozen assets, according to The Guardian.

CRYPTO

Bitcoin gives back some of its recent advances and slips below USD 69k.

APAC TRADE

APAC stocks traded mixed with participants somewhat cautious following the mostly negative bias stateside amid a lack of major catalysts, ongoing geopolitical tensions in the Middle East and a higher yield environment.
ASX 200 retreated from the open with Real Estate and Healthcare leading the broad downturn seen across sectors.
Nikkei 225 was pressured following its recent failure to hold on to the 39,000 level despite a weaker currency.
Hang Seng and Shanghai Comp shrugged off early weakness to trade in the green albeit with price action choppy as the attention turned to earnings updates, while the PBoC conducted its first swap operation involving securities brokerages, funds and insurance companies worth CNY 50bln on Monday.

NOTABLE ASIA-PAC HEADLINES

Chow Tai Fook Jewellery (1929 HK) reports same store sales down 24.3%; HY revenue decreases by 18%; HY Net profit decreases by 42%.
China’s FX regulator said the Yuan exchange is basically stable at reasonable and balanced levels, while it added that cross-border capital turned to inflows in the first three quarters of this year and cross-border capital flow has been balanced since the start of 2024. Furthermore, it stated the FX market shows relatively strong resilience and market expectations and trading are in order overall.
FT article suggests that there is no sign yet of determined Chinese reforms or spending to spur more household consumption, despite many agreeing that President Xi’s thinking on stimulus has changed. Focus is reportedly still largely on repairing local governments’ and banks’ balance sheets.
China State Planner say China will continue to issue ultra long term special government bonds in 2025; and further optimise their allocation next year.

DATA RECAP

New Zealand Trade Balance (NZD) (Sep) -2.1B (Prev. -2.2B, Rev. -2.3B); Imports (Sep) 7.1B (Prev. 7.2B, Rev. 7.2B)

2C ASIAN REPORT

APAC mixed while European futures point towards a positive open, ECB & Fed speakers ahead – Newsquawk Europe Market Open

Tuesday, Oct 22, 2024 – 01:42 AM

APAC stocks traded mixed with participants somewhat cautious following the mostly negative bias stateside.
European equity futures are indicative of a slightly positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.9% on Monday.
DXY is just below the 104 mark, antipodeans are looking to claw back recent losses, USD/JPY is north of the 150 level.
Fed’s Daly (2024 voter) said she has not seen anything so far that would suggest the FOMC would not continue to cut rates.
Looking ahead, highlights include ECB’s Lagarde & Lane, BoE’s Greene, Bailey & Breeden, Fed’s Harker, NBH Policy Announcement, Supply from Germany & UK.
Earnings from L’Oreal, IHG, Boliden, Logitech, Danaher, General Electric, Raytheon Technologies, 3M, General Motors, Philip Morris International, Sherwin-Williams, Fiserv, Verizon Communications, Lockheed Martin, Freeport-McMoRan & Texas Instruments.

SNAPSHOT

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US TRADE

EQUITIES

US stocks ultimately closed mixed with most indices in the red amid a firmer dollar and higher yield environment although the Nasdaq outperformed thanks to strength in technology which was the only sector to finish higher and was primarily buoyed by gains in big tech names such as Nvidia (NVDA) and Apple (AAPL), while Communications closed relatively flat alongside gains in Google (GOOGL) and Netflix (NFLX). Elsewhere, T-notes sold off across the curve in little newsflow with the downside following on from weakness in EGBs after a flurry of supply while higher oil prices also weighed and some also cited the “Trump trade” with Trump showing no loss of momentum in the polls and the 538 averages showed Trump leading in four of seven swing states.
SPX -0.18% at 5,854, NDX +0.18% at 20,361, DJIA -0.80% at 42,932, RUT -1.60% at 2,240.
Click here for a detailed summary.

NOTABLE HEADLINES

Fed’s Daly (2024 voter) said the Fed will continue to adjust policy and a 50bps cut was to right-size policy, while she expects additional cuts going forward. Daly said the recent Fed rate cut was a close call and she came down strongly in favour of a 50bps cut, as well as noted that a 50bps cut was needed and they didn’t want to find out they had overtightened and taken jobs from people. Furthermore, she said they will be data-dependent for the Fed’s November meeting and haven’t seen anything so far that would suggest they would not continue to cut rates, while she noted policy is absolutely still tight and would want to be open-minded to continue to ease policy if inflation is falling, even if the economy is strong.
Fed’s Schmid (2025 voter) called for a cautious, gradual and deliberate approach to rate cuts, while he prefers to avoid outsized rate cuts and noted that they are seeing a normalisation of the labour market, not a deterioration. Furthermore, Schmid said current policy is restrictive, but not very restrictive, as well as noted the balance sheet is probably influencing longer-term rates and that they should be normalising the Fed’s balance sheet on both size and duration.
Fed’s Kashkari (2026 voter) said that a rise in the budget deficit would mean that on the margin interest rates would be higher and noted it was not the labour market that caused inflation. Kashkari said going forward, the Fed will look at all the data to decide on rate policy and evidence of a quick labour market weakening could lead to faster rate cuts but added that resilience makes him wonder if the neutral rate is higher and he currently sees modest cuts over the next quarters.

APAC TRADE

EQUITIES

APAC stocks traded mixed with participants somewhat cautious following the mostly negative bias stateside amid a lack of major catalysts, ongoing geopolitical tensions in the Middle East and a higher yield environment.
ASX 200 retreated from the open with Real Estate and Healthcare leading the broad downturn seen across sectors.
Nikkei 225 was pressured following its recent failure to hold on to the 39,000 level despite a weaker currency.
Hang Seng and Shanghai Comp shrugged off early weakness to trade in the green albeit with price action choppy as the attention turned to earnings updates, while the PBoC conducted its first swap operation involving securities brokerages, funds and insurance companies worth CNY 50bln on Monday.
US equity futures (ES -0.2%) remained lacklustre after the mostly negative performance on Wall Street.
European equity futures are indicative of a slightly positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.9% on Monday.

FX

DXY traded steadily overnight and held on to the prior day’s spoils after having surged to briefly above the 104.00 level as US yields climbed alongside the upside in oil prices and amid a touted Trump trade, while Fed rhetoric did little to shift the dial.
EUR/USD got some slight respite after giving way to the dollar strength and with the single currency also not helped by softer-than-expected German PPI data and after ECB rhetoric continued to suggest the potential for further rate cuts ahead.
GBP/USD attempted to nurse some of its losses after recently slipping to the sub-1.3000 territory.
USD/JPY gradually extended on the prior day’s advances and briefly reclaimed the 151.00 handle.
Antipodeans regained composure following the prior day’s slide and clawed back some of the losses.

FIXED INCOME

10yr UST futures trickled beneath the prior day’s lows following the recent selling pressure as yields and oil prices rose, while some had also attributed the recent price action to the ‘Trump trade’.
Bund futures remained pressured and extended their tumble to beneath the 133.00 level amid recent supply.
10yr JGB futures followed suit to the losses in global peers but with the downside stemmed by a lack of fresh catalysts and after firmer demand at the 10yr Climate Transition Bond auction.

COMMODITIES

Crude futures mildly retreated overnight following the prior day’s gains with the WTI December contract back beneath the USD 70/bbl level amid light newsflow and as participants continue to await Israel’s response to Iran.
Spot gold resumed its upward momentum after pulling back from record highs yesterday alongside a stronger dollar.
Copper futures found reprieve from the prior day’s selling but with the upside capped amid the mixed risk sentiment.
World refined copper markets were in a 54k metric tonnes surplus in August 2024, according to ICSG.

CRYPTO

Bitcoin remained subdued following Monday’s slump to beneath the USD 68,000 level.

NOTABLE ASIA-PAC HEADLINES

China’s FX regulator said the Yuan exchange is basically stable at reasonable and balanced levels, while it added that cross-border capital turned to inflows in the first three quarters of this year and cross-border capital flow has been balanced since the start of 2024. Furthermore, it stated the FX market shows relatively strong resilience and market expectations and trading are in order overall.

DATA RECAP

New Zealand Trade Balance (NZD)(Sep) -2.1B (Prev. -2.2B, Rev. -2.3B)
New Zealand Exports (Sep) 5.0B (Prev. 5.0B, Rev. 4.9B)
New Zealand Imports (Sep) 7.1B (Prev. 7.2B, Rev. 7.2B)

GEOPOLITICS

MIDDLE EAST

Israeli army issued an evacuation warning to residents of buildings in the neighbourhoods of Al-Lilaki and the boat ramp in the southern suburbs, according to Sky News Arabia.
Israeli Home Front said sirens sounded in Haifa, its Gulf and dozens of cities and sites in northern Israel, while it was later reported that Israeli media and military announced sirens sounded in central Israel’s Samaria area, West Bank settlements, Acre and areas in upper Galilee.
Israeli military spokesman said an Israeli strike in Syria killed the head of Hezbollah’s money transfers unit.
Syrian Ministry of Defence said two civilians were killed and three others injured in an Israeli shelling of a car in the Mazzeh area of Damascus.
Israel’s Channel 14 reported that the homes of senior officials in Iran were added as possible targets for Israeli attack and the Air Force will know the exact target of the attack shortly before implementation, according to Al Jazeera. Furthermore, Israel’s Channel 14 cited Israeli sources that stated plans for the strike against Iran were presented by the military leadership and the Mossad to the Prime Minister and Minister of Defence, according to Sky News Arabia.
Israeli Ministers of the Political-Security Council reported in recent days that a very large attack will be carried out soon on Iran, while estimates in Israel are that Iran will respond strongly to the Israeli attack, according to Al Jazeera.
US Secretary of State Blinken said he is heading to Israel and other stations in the region to discuss ending the war in Gaza, returning the hostages and alleviating the suffering of the Palestinians, according to Al Jazeera.
Iran’s UN Mission told the UN that US President Biden’s remarks in Berlin on Israel’s plan to attack Iran are “inflammatory” and the remarks indicate tacit US approval and explicit support for Israel’s unlawful military aggression against Iran, while the US will bear full responsibility for its role in instigating, inciting and enabling any acts of aggression by Israel against Iran.
Egyptian intelligence chief Hassan Rashad presented Shin Bet chief Ronen Bar during their meeting in Cairo on Monday with an outline for a “small” hostage deal with Hamas that would restart negotiations on a larger hostage deal, according to Axios’ Ravid. Israeli officials noted that Shin Bet chief Bar presented the Egyptian outline during a cabinet meeting which involves a small deal that would be carried out as a first stage whereby a number of abductees would be released in exchange for a few days of ceasefire and then parties would move on to negotiations on a large hostage deal.

OTHER

UK is to lend Ukraine an additional GBP 2.26bln for weapons to fight Russia with the loans to be repaid using interest generated from USD 300bln of Russian frozen assets, according to The Guardian.
US DoJ proposed barring bulk sales of sensitive US data to China, Russia and Iran due to national security risks.

EU/UK

NOTABLE HEADLINES

UK Shadow Chancellor Hunt warned Chancellor Reeves against hiking business taxes ahead of next week’s Budget, according to FT.

3B NORTH KOREA/SOUTH KOREA

3C JAPAN

3D. CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

newest European proposal: a frequent flyer taxes due to increase carbon emissions

stupid!!

(Armstrong Economics)

and special thanks to Robert H for sending this to us;

Frequent Flyer Tax

Posted Oct 22, 2024 by Martin Armstrong |

The core reason that the establishment is suddenly interested in climate change comes down to one main factor – money. More specifically, the establishment is hunting down YOUR money through taxation. A second motivator is limiting our freedom of movement by demonizing fossil fuels and limiting our ability to travel. The European Union is now seeking to punish those who fly more than once per year with a frequent flyer tax.

The EU has already implemented an aviation tax, but the new proposal is designed to punish the pesky “rich,” but per usual, everyone will suffer. “A frequent flying levy would be a fair aviation measure, reducing excessive flights for wealthy passengers, while raising revenues – including to expand and provide affordable railways and public transport,” the Stay Grounded network told Euro News.

The new levy would target everyone flying from the European Economic Area (EEA) and the UK. The standard aviation tax would apply for the first two flights taken per year, but an additional 50 euro surcharge would be applied to medium-haul flights while long-haul, first-class, and business flights would cost an additional 100 euros. Then they are adding an additional 100 euro fee after the fifth flight on top of the initial surcharge. People will be expected to pay an additional 200 euros for their seventh flight and 400 euros for the ninth.

Lawmakers believe this tax would increase current EU aviation taxes six times over and cover 30% of the overall budget, the budget that those same lawmakers can never adhere to. Some organizations believe authorities can collect up to 64 BILLION euros per year.

But that is never enough for those in government. There are also rumors that aviation will no longer be exempt from VAT and fuel taxes, which would automatically raise the cost of flying for everyone.

If government restricts the freedom of movement with respect to people, trade, ideas, communication, and good and services, the world economy cannot possibly survive and this places us at risk of a frightening Dark Age all because governments fear losing power and are desperate to hunt money for confiscation.

END

EU/

“In Crisis Mode”: EU Automakers Slide Into First Sales Slump In Two Years

Tuesday, Oct 22, 2024 – 07:45 AM

The downturn in the European auto market is accelerating.

Volkswagen, Mercedes, Aston Martin, and BMW have all cut their financial forecasts in response to the deteriorating conditions. A recently leaked memo from a senior Stellantis executive highlighted increasing concerns over the deepening auto slump. Bloomberg’s latest data shows the downturn continues to worsen.

New figures from the European Automobile Manufacturers’ Association show that new car registrations across Europe in September declined 4.2% compared with the same month one year ago, to 1.12 million units. This was the second consecutive month of declines since mid-summer 2022. Data showed that gains in electric vehicles could not offset the weakness in combustion-engine models.

Constantin Gall, the managing partner at EY for Western European markets, wrote in a note to clients that the European auto market “remains in crisis mode,” adding, “There is no positive impetus towards the end of the year — the economy is weakening, the considerable geopolitical tensions are not easing and are causing uncertainty among both private and commercial customers.”

European consumers balked at expensive EVs in September. Instead, they gravitated towards affordable ones.

Sales of EVs bounced back in September, a welcome sign for the industry that’s seen demand for fully electric cars decline after governments pulled subsidies last year. EV deliveries jumped 24% in the UK, where carmakers are heavily discounting to try to comply with the government’s zero-emissions vehicle sales mandate. In Germany, where the government is discussing the potential of new incentives, EV sales increased 8.7%. -BBG

Regarding each automaker’s performance in September, Stellantis nosedived, recording the steepest decline in new car sales, about 26%.

We have extensively covered the automaker downturn:

In markets, the MSCI Europe Automobiles and Components Index has made four attempts at new all-time highs in the last decade, the first in March 2015, and has since failed three other times, with the latest in April. On the year, the index is down about 10%.

The MSCI World Automobiles Index is another index that shows, more broadly, global automakers are under pressure.

Heading into 2025, auto companies will continue to face many challenges. Interest rates remain high, and vehicle prices are elevated, driving some of the worst affordability for consumers in a generation. This problem also persists in the US.

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/

Hamas sources say Doha-based committee to head terror group after Sinwar killed

By Agencies

Houthi supporters raise a poster of Hamas leader Yahya Sinwar, who killed by Israeli troops in Gaza, during an anti-Israel rally in Sanaa, Yemen, Friday, Oct. 18, 2024. (AP Photo/Osamah Abdulrahman)

Two Hamas sources say the Palestinian terror group is moving toward appointing a Doha-based ruling committee rather than a single successor to its chief Yahya Sinwar, who was killed by Israeli troops last week.

“The Hamas leadership’s approach is not to appoint a successor to the late chief, the martyr Yahya Sinwar, until their next elections” scheduled for March “if conditions permit,” a well-informed source from the group tells AFP.

A five-member committee that was formed in August following the assassination of political chief Ismail Haniyeh in Tehran “will take over the leadership of the group,” the source adds.

The committee was formed to facilitate decision-making given the difficulty of communicating with Sinwar in Gaza before his death.

Sinwar was named the Gaza chief of the militant group in 2017, before rising to become the overall leader of Hamas after Haniyeh was assassinated in July.

The source says the committee is made up of representatives of West Bank, Gaza and the Palestinian diaspora, namely Khalil al-Hayya for Gaza, Zaher Jabarin for the West Bank and Khaled Meshaal for Palestinians abroad.

It also includes the head of Hamas’s Shura advisory council Mohammed Darwish and the secretary of the political bureau, who is never identified for security reasons.

All current members of the committee are based in Qatar.

According to the source, the committee is tasked with “governing the movement during the war and exceptional circumstances, as well as its future plans.”

He added that it is authorized to “make strategic decisions”.

Another source from the group says that the Hamas leadership discussed a proposal that was made “internally” to appoint a political chief without announcing their name.

But, the source adds, the leaders preferred to rule through the committee.

Sinwar was killed by Israeli troops in southern Gaza on Wednesday, more than a year into the devastating war in the territory sparked by Hamas’s October 7 attack that he orchestrated. The attack killed some 1,200 people and took another 251 hostages.

END

IRAN/USA/ISRAEL

Tehran tells UN: Biden has signaled US approval for attack on Iran, will bear responsibility

By Reuters

US President Joe Biden talks to the media before departing from the Brandenburg Airport in Berlin, Germany, Friday, Oct. 18, 2024. (AP Photo/Ben Curtis)

US President Joe Biden has signaled “tacit approval and explicit support for Israel’s unlawful military aggression against Iran,” Iran’s mission to the United Nations says, citing remarks by Biden in Germany last week.

“The United States will bear full responsibility for its role in instigating, inciting and enabling any acts of aggression by Israel against the Islamic Republic of Iran … as well as for the catastrophic consequences on regional and international peace and security,” Iran’s UN mission says in a letter to the UN Security Council.

Biden, on a visit to Berlin, also told reporters he has an understanding of how and when Israel will respond to the missile attacks by Iran. He declined to elaborate.

END

ISRAEL/HEZBOLLAH

Heavy strikes in Beirut after IDF orders public to evacuate from several Hezbollah sites

Three said killed in Israeli strike on Beirut neighborhood near government hospital

By ReutersToday, 11:31 pm

At least three people have been killed and tens of others injured following an Israeli strike on a Beirut neighborhood near the capital’s main government hospital, a senior security source tells Reuters.

BREAKING:

Israeli is dropping bombs near Rafik Hariri Hospital in Beirut — the city’s main public and largest government hospital. pic.twitter.com/n0y4tn1a9l
— sarah (@sahouraxo) October 21, 2024

END

ISRAEL HEZBOLLAH

Explosions reported in Beirut suburbs after IDF orders evacuations of buildings

Today, 10:35 pm

Several loud explosions are reported in Beirut’s southern suburbs, a Hezbollah stronghold.

The apparent Israeli strikes come after the IDF called on residents of several buildings to evacuate.

“You are located near facilities and interests belonging to Hezbollah, which the Israeli army will target in the near future,” Israeli army spokesperson Avichay Adraee says in a post on X.

Earlier the IDF said it would continue striking Hezbollah targets with a focus on their financial infrastructure.

#عاجل إلى جميع السكان المتواجدين في منطقة الضاحية الجنوبية وتحديدًا في المباني المحددة في الخرائط المرفقة والمباني المجاورة لها في حدث بيروت

⭕️أنتم تتواجدون بالقرب من منشات ومصالح تابعة لحزب الله سوف يعمل ضدها جيش الدفاع على المدى الزمني القريب

⭕️من أجل سلامتكم وسلامة أبناء… pic.twitter.com/NReds4dX1N
— افيخاي ادرعي (@AvichayAdraee) October 21, 2024

END

ISRAEL/HEZBOLLAH

Hospital in Beirut suburbs evacuated after Israel claims Hezbollah cash bunker below

By ReutersToday, 10:06 pm

The Lebanese Sahel Hospital in Beirut’s southern suburbs is being evacuated following Israeli claims a Hezbollah cash bunker is located beneath it, hospital director Fadi Alameh tells Reuters.

Alameh denied the allegation and called on the Lebanese army to visit the site.

The IDF has said it would not strike the site, but provided the Lebanese people with details on where the entrances to the bunker are.

“Tonight, I am going to declassify intelligence on a site that we did not strike—where Hezbollah has millions of dollars in gold and cash—in Hassan Nasrallah’s bunker. Where is the bunker located? Directly under Al-Sahel Hospital in the heart of Beirut.”

Listen to IDF Spox.… pic.twitter.com/SjMZQpKqoJ
— Israel Defense Forces (@IDF) October 21, 2024

end

ISRAEL/HEZBOLLAH

New Israeli Air Raids Unleash Giant Fireballs, Chaos In Beirut

Monday, Oct 21, 2024 – 05:36 PM

(1736ET): Before and after midnight (local time), huge Israeli strikes are once again rocking southern Beirut suburbs, with reports of large strikes hitting very near hospitals.

Early videos of some of tonight’s airstrikes show absolutely massive fireballs expanding high over the city, amid another night of panic on the ground, and as hospitals are filling up.

That's massive. #Beirut pic.twitter.com/LSs42OroQn
— FJ (@Natsecjeff) October 21, 2024

Local media has indicated at least 13 raids in the last hours, and Lebanon’s health ministry said that at least four have been killed in the fresh attacks:

Lebanon’s Health Ministry says one of those killed was a child.

Twenty-four people also were wounded in an initial toll following the Israeli attack near Rafik Hariri Hospital in southern Beirut, the ministry said.

Sahel Hospital in the southern suburbs of Beirut is also being threatened, with Israel’s military claiming that Hezbollah uses the facility to store cash and gold.

Al Jazeera has listed the following late-breaking updates as follows:

Israeli forces have bombed the vicinity of Rafik Hariri Hospital in Beirut’s southern suburbs, Lebanon’s National News Agency is reporting.
According to local media reports, Israeli air strikes have targeted three locations: Ozai, Jinah and Haret Hreik.
Lebanon’s Sahel General Hospital in Beirut’s southern suburbs is being evacuated after Israel claimed that Hezbollah has a bunker filled with cash under it, the hospital director says.
Hezbollah has released a statement saying it launched rockets at an Israeli army intelligence base near Tel Aviv.
The director of field hospitals at Gaza’s Health Ministry says Israel is targeting the three remaining medical facilities in northern Gaza.
The Israeli army spokesperson claims that a strike in Syria’s capital killed the commander of a Hezbollah unit who was responsible for the transfer of weapons from Iran.

* * *

Israel on Sunday night began fresh, heavy airstrikes on Beirut’s southern suburbs as well as in the Bekka Valley in the east of Lebanon, for the first time declaring it would target banks suspected of financing Hezbollah.

“The air force will launch extensive strikes on targets in the southern suburb of Beirut, targeting Hezbollah-linked economic assets,” IDF spokesman Daniel Hagari said as strikes were underway. Buildings that belong to al-Qard al-Hassan Association are at the top of the list, identified by the Israelis as long associated with the Shia paramilitary group backed by Iran.

With at least 30 branches across Lebanon, and 15 Beirut locations in bustling neighborhood, al-Qard al-Hassan Association is also used by many Lebanese civilians.

The US-sanctioned bank has been around since the 1980’s and is focused on providing services to Lebanon’s Shiite community, which is mostly concentrated in the south.

“The purpose of the strike is to target the ability of Hezbollah to function both during the war but also afterwards to rebuild and to rearm the organization on the day after,” an Israeli military statement continued.

Some dozen large airstrikes rocked Beirut’s southern suburbs last night, including one or more which were very near Beirut International Airport, reportedly targeting the bank branches.

The bank has sought to assure its customers it has taken “all of the necessary procedures since the beginning of the war to safeguard your deposits and valuables and can confirm that you should not worry they are safe.”

A regional analyst was quoted in The Wall Street Journal as follows:

“The main loss for the people using its services will be the destruction of family gold they pawned in exchange for loans,” said Lina Khatib, director of the SOAS Middle East Institute and author of a study of Hezbollah’s influence networks.

“But for as long as Hezbollah’s external financial operations remain active, including its involvement in illicit finance internationally, and as long as Iran continues to fund it, Al-Qard Al-Hassan’s clients will expect Hezbollah to be able to compensate them for their losses,” she said.

The Lebanese Health Ministry said over the weekend that at least 2,464 Lebanese have been killed since hostilities began in Oct.2023; however, it remains unclear how many of that figure are combatants vs. civilians.

BEIRUT: Surreal video after Israeli bombardment near Beirut international airport without air, tarmac traffic being halted. 20 days into #Lebanon war and unclear how this ends: pic.twitter.com/QxPXIRFady
— Joyce Karam (@Joyce_Karam) October 21, 2024

The whole region remains on edge awaiting Israel’s retaliation against Iran, which US intelligence has said is “almost certainly” going to happen. A Bloomberg note indicates:

Oil prices bounce back from last week’s steep fall with Brent crude futures climbing 1.3% to around $74 a barrel. Traders are likely monitoring tensions in the Middle East after Israeli PM Netanyahu held a series of meetings with top security aides to discuss the next attack on Iran. Israel is discussing its attack on Iran after a Hezbollah drone exploded near Prime Minister Benjamin Netanyahu’s private home at the weekend.

Below are more regional developments via Newsquawk…

Israeli PM Netanyahu said a drone attack which targeted his home in northern Israel was a “grave mistake”, while he and his family were not at their house when the drone attack struck on Saturday and there were no casualties.
Israeli PM Netanyahu spoke with former US President Trump and told him that Israel considers the issues the US administration raises but will make decisions based on its national interests.
Israel’s military said it attacked Hezbollah’s intelligence HQ and weapons storage facilities in the southern suburbs of Beirut on Saturday. It was also reported that Israel conducted a fresh raid on the southern suburbs of Beirut on Sunday, as well as targeted the city of Tyre and the towns of Bir al-Salasil and Homine al-Fawqa in southern Lebanon.
Israeli military spokesperson had warned on Sunday that they would conduct targeted strikes on sites belonging to Hezbollah’s financial arm across Lebanon and urged Lebanese residents to evacuate areas near those facilities, while it was later reported that Israeli strikes hit branches of Hezbollah-linked bank in Beirut and Beqaa Valley, according to Times of Israel.
Hezbollah announced it conducted a rocket barrage at Beit Hillel base, while it was separately reported that Iraqi armed factions announced the targeting of an Israeli military site in the Golan with drones.
Israel gave the White House its demands for ending the war in Lebanon, while US President Biden’s envoy Amos Hochstein will visit Beirut on Monday to discuss a possible diplomatic solution with Lebanese officials, according to Axios. The report noted one Israeli demand is that IDF be allowed to engage in “active enforcement” to ensure Hezbollah doesn’t rearm and Israel also demands its air force have freedom of operation in Lebanese airspace, although a US official said it is highly unlikely Lebanon and the international community would agree to Israel’s conditions.
Iran’s Supreme Leader said Hamas leader Sinwar’s death will not halt the axis of resistance and Hamas will live on.
Iranian Foreign Minister Araghchi alluded to the US and warned that anyone who knows how and when Israel will attack Iran will be held accountable, according to Reuters.
US House Speaker Johnson said on Sunday that there would be a classified briefing related to leaked US intelligence on Israel-Iran, according to Reuters.
US Defence Secretary Austin said he would like to see Israel scale back on some of its strikes in and around Beirut, while he raised the issue about UNIFIL security with Israel’s Defence Minister Gallant. Furthermore, Austin reviewed the US defence posture and said he is relieved that PM Netanyahu is safe, while he said he couldn’t confirm reports that North Korean troops are in Russia and readying for combat in the Ukraine war, according to Reuters.
UN peacekeeping force UNIFIL said an Israeli army bulldozer demolished a watchtower and fence surrounding the UN site in southern Lebanon on Sunday, according to Reuters.
G7 defence ministers reaffirmed the importance of supporting UNIFIL and the Lebanese armed forces in their role of ensuring the stability and security of Lebanon, while they called on Iran to refrain from providing support to Hamas, Hezbollah, Houthis and other non-state actors. Furthermore, they called on Houthis to immediately cease their escalatory measures that increase regional instability and immediately release the vessel Galaxy Leader and its crew.
END

end

ISRAEL LEBANON/HEZBOLLAH

TIMES OF ISRAEL

same story as above

Air Force pounds Hezbollah’s Beirut stronghold after civilians told to evacuate area

Al-Sahel Hospital denies IDF accusation that Hezbollah storing half a billion dollars in underground bunker, but evacuates patients amid more than a dozen Israeli airstrikes

By Agencies and ToI StaffToday, 4:50 am

Flames and smoke rise form an Israeli airstrike on Dahiyeh, in the southern suburb of Beirut, Lebanon, Monday, Oct. 21, 2024. (AP Photo/Bilal Hussein)

More than a dozen Israeli airstrikes were said to hit Beirut’s southern suburbs on Monday night and in the early hours of Tuesday morning after the Israel Defense Forces accused Hezbollah of storing millions of dollars in a bunker underneath one of Lebanon’s largest hospitals amid a years-long financial crisis.

The strikes were launched after the IDF’s Arabic-language spokesman Lt. Col. Avichay Adraee instructed residents of several buildings in Beirut’s southern suburbs to evacuate the area, warning that they were “located near facilities and interests belonging to Hezbollah.”

The military said earlier on Monday that it would continue striking Hezbollah targets with a focus on their financial infrastructure, after IDF spokesman Rear Adm. Daniel Hagari said that Israel estimated there to be roughly “half a billion dollars in dollar bills and gold” in a bunker underneath the Al-Sahel Hospital in the southern Beirut suburb known as Dahiyeh, where Hezbollah is largely based.

He warned that the Israeli Air Force was monitoring the compound, but stressed that Israel would not launch a strike on the hospital itself, as it is at war with Hezbollah, and not with the Lebanese people.

The hospital nevertheless said that it was evacuating its patients to a safer location, and director Fadi Alameh denied the allegations made by the IDF and invited the Lebanese army to visit the site.

Alameh told the local Al-Jadeed TV that the hospital, which has been in the area for 42 years, has underground rooms for surgery and has no ties to Hezbollah or any political group.

Following the calls to evacuate, residents of Beirut reported several loud explosions in the Dahiyeh area, and Lebanese media reported that at least 13 Israeli airstrikes had been launched in the Hezbollah bastion.

This picture taken from the southern Lebanese city of Tyre shows smoke billowing after Israeli airstrikes that targeted southern Lebanese villages on October 21, 2024. (Kawnat Haju/AFP)

The Lebanese health ministry said that a preliminary toll showed that four people, including a child, were killed in the airstrikes near the country’s biggest public hospital, and 24 others were injured.

The number provided by the health ministry does not differentiate between combatants and civilians.

The strike caused “significant damage to the hospital,” the health ministry said, including to the entrance, “which is still operating and receives a large number of patients.”

The health ministry also denied the IDF’s assertion that Hezbollah was storing half a billion dollars under the hospital.

Lebanon’s National News Agency reported at least three Israeli strikes on the Ouzai district of south Beirut.

While most districts of Beirut’s southern suburbs had been emptied for almost a month in light of the escalation between Israel and the Iran-backed Hezbollah terror group, the densely packed residential area of Ouzai was still filled with people because it had never been targeted before.

Additional strikes were also reported in Haret Hreik, just south of Ouzai, and Hadath.

‘No room for escape’

Hezbollah-affiliated rescuers told AFP they were looking for survivors amid the devastation in Ouzai, adding that the evacuation order, then the strike, caused “panic among residents” who “started to run in the streets.”

“They did not leave any room for people to escape. The strike came closely after the warning,” one said.

A Lebanese security official told AFP that the country’s national airline had to switch landing strips after Israeli strikes near Beirut’s only international airport hit close to the main runway.

“Middle East Airlines switched the runway it was using because the main runway is close to the site of the Ouzai strike,” the official said, requesting anonymity to discuss sensitive matters.

AFPTV footage showed plumes of smoke rising from Beirut’s southern suburbs, with AFP correspondents also hearing several loud bangs before the strikes.

The footage also showed two strikes that caused a huge fire, with black smoke surrounding dissipating orange flames.

The strikes came as the IDF continued to hammer an array of Hezbollah positions across Lebanon, including strikes against some 300 targets in the previous 24 hours.

In particular, IDF Chief of Staff Lt. Gen. Herzi Halevi said on Monday that more than two dozen targets belonging to Hezbollah-linked financial firm Al-Qard Al-Hassan had been hit.

Al-Qard Al-Hassan is a financial firm, officially registered as a charity, that has been offering customers credit in exchange for gold deposits on an interest-free basis since the 1980s. Israel charges that Hezbollah is making money from Lebanon civilians through AQAH.

The firm is used mainly by Muslim Shiite communities battling a years-long financial crisis that has locked Lebanese out of their bank deposits.

The United States has long sanctioned the association, accusing Hezbollah of using it as a cover to mask its financial activities and gain access to the international financial system.

A man rides a moped past the site of an overnight IDF airstrike that targeted a branch of the Al-Qard Al-Hassan group that Israel says finances Hezbollah, in Beirut’s southern suburbs on October 21, 2024. (AFP)

Al-Qard Al-Hassan says it has more than 30 branches nationwide, mainly in Hezbollah bastions including Beirut’s southern suburbs, but also in central Beirut and in other major cities such as Sidon and Tyre.

Israel in late September widened the focus of its military operations to Lebanon after over a year of cross-border attacks by Hezbollah-led forces in solidarity with Hamas — another Iranian-backed terror group — amid the war in Gaza.

Some 60,000 residents were evacuated from northern towns on the Lebanon border shortly after Hamas’s October 7 onslaught, due to fears Hezbollah would carry out a similar attack, and amid increasing rocket fire by the terror group.

The attacks on northern Israel since October 2023 have resulted in the deaths of 29 civilians. In addition, 43 IDF soldiers and reservists have died in cross-border skirmishes and in the ensuing ground operation launched in southern Lebanon in late September.

Two soldiers have been killed in a drone attack from Iraq, and there have also been several attacks from Syria, without any injuries.

The IDF estimates that around 2,000 Hezbollah operatives have been killed in the conflict. Around 100 members of other terror groups, along with hundreds of civilians, have also been reported killed in Lebanon.

Emanuel Fabian contributed to this report.

end

ISRAEL

/ISRAEL/HEZBOLLAH/TUESDAY MORNING

Hezbollah claims rockets fired at Israeli naval base west of Haifa. This was a futile reprisal for the massive attacks on Beirut this morning and last night

(JerusalemPost)

Sirens trigger across central Israel following rocket barrage targeting Tel Aviv Iron Dome battery

Hezbollah also said it launched rockets at an Israeli naval base west of Haifa.

By JERUSALEM POST STAFFOCTOBER 22, 2024 08:00Updated: OCTOBER 22, 2024 08:48

Ongoing hostilities between Hezbollah and Israeli forces (photo credit: REUTERS) — Ongoing hostilities between Hezbollah and Israeli forces(photo credit: REUTERS)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-825602&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241021_e8dd7575db27269f7bc6f9dc56c560b0bff9902c&useBunnyCDN=0&themeId=140&unitType=tts-player

Approximately five rockets were identified crossing from Lebanon toward central Israel early Tuesday morning, the IDF confirmed.

Most of the rockets were intercepted; however, the IDF reported that one impact was identified in an open area. Shortly after the attack, Hezbollah claimed responsibility for the launches, saying it had targeted an Iron Dome battery near Tel Aviv, according to a Ynet report.

IDF soldiers from the Golani Brigade discover Hezbollah weapons in southern Lenon, October 8, 2024. (credit: IDF SPOKESPERSON'S UNIT) — IDF soldiers from the Golani Brigade discover Hezbollah weapons in southern Lenon, October 8, 2024. (credit: IDF SPOKESPERSON’S UNIT)

According to Reuters, the Lebanon-based terror organization also said that it bombed the Glilot base of the military intelligence unit 8200 located in the suburbs of Tel Aviv with a missile salvo.

Police officers and bomb disposal experts are currently working to secure an impact site in Bnei Brak following reports of interception debris falling in the city, according to Israeli media.

Additional rockets around the same time

Additionally, approximately 15 rockets launched by Hezbollah in Lebanon were identified in the Upper Galilee, some of which were intercepted while the rest fell in open areas, the IDF further reported.

Hezbollah had also claimed it had targeted a navy base near Haifa.

According to later reports, a 53-year-old civilian was lightly wounded as a result of interception debris falling in Kibbutz Ma’agan Michael, north of Caesarea, which also caused damage to buildings and parked vehicles.

The man was evacuated to Hillel Yaffe Medical Center in Hadera for further medical treatment.

END

ISRAEL/HEZBOLLAH LEBANON/IRAN

not a very smart move orchestrated by Hezbollah and Iran. Now Israel considers this an act of war

and they will go after the Ayatollahs in Iran

(zerohedge)

Shin Bet confirms: Hezbollah drone succeeded in hitting Netanyahu’s Caesarea residence

Only hours earlier, a senior Hezbollah official had claimed responsibility for the drone attack.

By JERUSALEM POST STAFFOCTOBER 22, 2024 15:44Updated: OCTOBER 22, 2024 16:3

PM Netanyahu's Caesarea residence that was hit by a Hezbollah drone on Saturday. (photo credit: Canva, SCREENSHOT VIA X, SECTION 27A COPYRIGHT ACT) — PM Netanyahu’s Caesarea residence that was hit by a Hezbollah drone on Saturday.(photo credit: Canva, SCREENSHOT VIA X, SECTION 27A COPYRIGHT ACT)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-825686&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20241021_e8dd7575db27269f7bc6f9dc56c560b0bff9902c&useBunnyCDN=0&themeId=140&unitType=tts-player

A drone that infiltrated from Lebanon struck a building in Caesarea on Saturday, was revealed on Tuesday to be the residence of Prime Minister Benjamin Netanyahu.

Only hours earlier, A senior Hezbollah official had claimed responsibility for the drone strike.

Until now, it had only been reported that the drone was launched toward his home, but it was not disclosed that it hit the structure. The Prime Minister and his wife were not present during the incident.

Yossi Shelly, Director General of the Prime Minister’s Office, visited Netanyahu’s Caesarea residence on Sunday. He was joined by Tax Authority Director Shai Aharonovitch and Property Tax officials to assess the damage caused by the strike.

The drone was tracked by a combat helicopter, which identified its infiltration from Lebanon until the moment of impact. As a result, alarms were triggered in Glilot and northern Tel Aviv, though the Home Front Command app did not issue any warnings.

Two additional aircraft also breached Israeli airspace from Lebanon but were intercepted in open areas. The IDF spokesperson stated that an investigation is underway regarding the strike on the building.

Netanyahu’s response

In response to Hezbollah’s drone attack, Netanyahu said on Saturday: “Iran‘s proxies, who today attempted to assassinate me and my wife, made a grave mistake. This will not deter me or the State of Israel from continuing the war of resurgence against our enemies to secure our safety for generations to come.”

He added: “I say to the Iranians and their partners in the axis of evil—anyone who harms Israeli citizens will pay a heavy price. We will continue to eliminate your terrorists, retrieve our hostages from Gaza, and restore security to our northern residents.”

ISRAEL /IRAN/USA

FBI Believes US Intel Leak On Israel Was Likely A Government Insider, Not Hacking

Monday, Oct 21, 2024 – 10:35 PM

The FBI and the Department of Defense are scrambling to uncover how it was that two highly classified intelligence documents related to Israel’s preparation for a potential retaliatory attack on Iran appeared on a Middle East news-related Telegram channel days ago.

The White House has described President Biden as “deeply concerned” over the serious breach, and has confirmed there is an intense investigation ongoing to ascertain how it happened and who had access.

At this point it’s not even confirmed whether the documents were made public via a hack or a leak by an individual who had access to them.

The documents were produced by the US National Geospatial-Intelligence Agency and National Security Agency, and were marked “Top Secret” and restricted from distribution from most foreign allies, with the exception of countries belonging to the “Five Eyes”.

The White House also said Monday that at this point officials do not believe that more documents were breached beyond the two which were made public.

CNN meanwhile reports that investigators currently believe the intel docs were leaked by someone within the US intelligence community:

The FBI is leading the investigation, working with Pentagon investigators and the intelligence community, according to US officials briefed on the matter.

In recent days, investigators have worked to authenticate the documents and determine who could have had access to them, the officials said.

That focus is one indication that, for now, the FBI and other investigators are working off the theory that the breach most likely came from a government insider and not from a cyber intrusion.

Statements attributed to the FBI further suggest authorities are getting close to tracking down the culprit. While both documents were available among a relatively large pool of US intelligence analysts and officials, CNN has noted that one of them appears to have been scanned from a printed briefing book.

“That could provide investigators with a critical jumping-off point: The Defense Department, like other federal agencies, tracks when employees print classified documents. The pool of people who printed these pages would be relatively small, these sources said,” CNN details.

This is precisely how US Air Force veteran and former NSA translator Reality Winner got caught. She printed a single classified document from her work computer, and then anonymously mailed it to The Intercept. It was an NSA document related to alleged ‘Russian interference’ in the 2016 United States elections, which involved some phishing scams and efforts at breaching voting software. The document itself was relatively vague. Government investigators were able to very quickly determine which printer was used, and which NSA employee viewed it.

UPDATE: The administrators of the Telegram channel where the classified documents were first posted has issued a statement about their publication. See below: pic.twitter.com/5N4VUcNBxl
— Drop Site (@DropSiteNews) October 19, 2024

ISRAEL/HAMAS//HEZBOLLAH//OPINION PEICE

Bibi was right: How Israel’s recent military successes boost his leadership – editorial

Israel’s recent military successes have boosted Netanyahu’s popularity, allowing him to continue to play the political game.

By JPOST EDITORIALOCTOBER 22, 2024 05:07Updated: OCTOBER 22, 2024 05:53

PRIME MINISTER Benjamin Netanyahu visits IDF soldiers in Rafah, in July. What form would victory assume? In Gaza, victory means the end of Hamas as the governing entity, the writer asserts. (photo credit: Avi Ohayon/GPO/Reuters) — PRIME MINISTER Benjamin Netanyahu visits IDF soldiers in Rafah, in July. What form would victory assume? In Gaza, victory means the end of Hamas as the governing entity, the writer asserts.(photo credit: Avi Ohayon/GPO/Reuters)

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As Prime Minister Benjamin Netanyahu sipped his coffee Monday morning and opened his copy of The Jerusalem Post, he probably allowed himself a brief moment to smile. Monday marked his 75th birthday, and Israel’s longest-serving leader has had a year that has seen him come back from the brink.

Just as he has fended off many pretenders to his crown over the 17 years he has held power (over three different terms), the past few months have seen Netanyahu watch Israel’s enemies disappear into the ether.

In a series of audacious and meticulously executed operations, Israel took out three of its most notorious enemies in a matter of months, cementing its reputation for high-level intelligence and bold military strikes.

On July 13, Mohammed Deif, the elusive head of Hamas’s “military” wing, was killed in Gaza after an Israeli airstrike targeted his location. On July 31, Hamas leader Ismail Haniyeh met a similar fate, assassinated by an explosive device remotely detonated in his guesthouse during a visit to Iran. Israel’s ability to carry out such an operation deep within Tehran shocked the world.

But the hits didn’t stop there. In September, Israel orchestrated a massive beeper operation targeting Hezbollah terrorists, causing explosions that crippled the group’s communication systems and claimed the lives of 42 fighters and wounded thousands. Days later, a strike in Beirut killed Hassan Nasrallah, Hezbollah’s long-standing leader, in a precision airstrike on his underground command center.

US PRESIDENT Joe Biden, Vice President Kamala Harris, and Secretary of State Antony Blinken: The concept of an Israeli victory does not feature as a declared objective of US foreign policy, possibly due to its overuse by Prime Minister Netanyahu, says the writer. (credit: JONATHAN ERNST/REUTERS)

Biden and Harris were wrong

These blows culminated last week in the killing of Yahya Sinwar, the mastermind of the October 7 attack, as the leader was discovered running away through the streets of Rafah. Each assassination revealed the depth of Israel’s intelligence and the sheer audacity of its military strategy, shaking the very foundations of Hamas, Hezbollah, and their allies.

Netanyahu has also had to deal with the US administration and its perceived mixed support for Israel throughout the war. Despite the replenishment of dwindling military supplies and the arrival of the US’s THAAD anti-missile system recently in anticipation of further escalation with Iran, the Biden administration has at times been prickly towards Israel’s conduct of the war. Most noticeably when it came to Rafah.

President Joe Biden stated in May that he would halt some shipments of American weapons if Netanyahu ordered a major invasion of Rafah. Vice President Kamala Harris also told interviewers that she had “studied the maps” and that a ground invasion of the southern Gaza Strip city would be “a mistake.”

As the death of Sinwar proved, Biden and Harris were wrong. Bibi was right.

He has also seen a political revival within Israel. The assumption over the past year was that Netanyahu, who built his reputation as the no-nonsense leader who would keep the country safe both from Palestinian terrorists and Iranian nukes, could not survive the biggest security failure in the country’s history. However, he has not only survived. His party is now almost back to pre-October 7 strength according to polls.

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A Channel 13 survey held since the killing of Sinwar showed Likud reclaiming its position as Israel’s largest party.Netanyahu is benefiting from an uptick in Israel’s success in the war, along with the lack of anyone out there who can pose a real challenge. Benny Gantz, Yair Lapid, and Avigdor Liberman are doing nothing to enthuse the nation or rally it around their leadership – simply slamming Netanyahu, which is Lapid’s and Liberman’s default mode, is not doing the trick.

It is only natural that the popularity of the leader of a nation at war falls and rises with the fortunes of that war, and right now, Netanyahu’s numbers are on the rise as the war is going better than it was a few months ago. He still has a large percentage of the population angry with him; angry at the lack of a hostage deal; angry that responsibility for October 7 has not yet been taken; angry that thousands of citizens still cannot return to their homes, but Netanyahu has been around the block before and knows how to play the political game.

What Bibi has done is buy time, both hoping and gambling that his political fortunes will change as the tide of the war turns – from the very outset, he said this would be a long war. It seems the tide may have turned for the prime minister.

END

ISRAEL/LEBANON HOSPITAL/HEZBOLLAH

Sahel Hospital opens its doors to journalists trying to disprove the IDF claim that it is housing a cash bunker. The IDF spokesman details how to get into the hidden bunker

(Times of Israel)

Lebanese hospital opens doors to journalists aiming to disprove IDF claim that it’s housing Hezbollah cash bunker

The Lebanese Sahel Hospital in Beirut’s southern suburbs opens its doors to journalists for an unrestricted tour after the IDF claimed that a Hezbollah cash bunker is located beneath it.

The IDF had ordered that the hospital be evacuated last night along with other sites across Beirut that wound up being struck during a series of air raids.

Journalists who tour Sahel say they see no evidence of a Hezbollah cash bunker.

But the IDF’s Arabic spokesperson issues a tweet addressed to those touring Sahel hospital, offering specific directions for where the bunker is located, “according to the information available to us.”

“We would like to emphasize that the entrance may be hidden using various means that may make it difficult to find,” the spokesperson adds.

IRAQ/IRAN/ISRAEL

Iraq Stuck Between Israel And Iran As Tensions Rise

Tuesday, Oct 22, 2024 – 05:00 AM

Authored by James Durso via OilPrice.com,

Iraq’s leaders have a lot on their minds, stuck between Israel and Iran as the two countries veer closer to open conflict.
Washington generally has a permissive attitude to whatever Israel wants to do, so if the attackers cross Iraq the assumption will be that the Americans approved, or did not disapprove, of the attack on Iran.
Iraq is balancing between Russia and China to avoid becoming a client state, and American investment would increase Baghdad’s autonomy.

Iraq’s leaders have a lot on their minds, stuck between Israel and Iran as the two countries veer closer to open conflict.

Iraq is still recovering from the reign of Saddam Hussein, the 1980-1988 war with Iraq, decades of sanctions that followed the 1991 invasion of Kuwait, liberation by the U.S.-led “coalition of the willing” in 2003, a post-invasion reconstruction that wasted much of the $60 billion spent, and the Islamic State insurgency of 2014-2019.

The U.S.-led sanctions campaign against the Saddam Hussein regime disrupted the Iraqi economy, causing inflation to skyrocket, unemployment numbers to hit record levels, a dramatic fall in living standards, the collapse of the infrastructure, and a serious decline in the availability of public services. But it was OK, as Madeleine Albright (then U.S. Ambassador to the United Nations) informed Americans, “we think the price is worth it.” All that, plus Saddam’s crimes against his own people for almost 25 years, weigh on Iraq’s as they navigate to a peaceful, prosperous future.

And there are other issues to vex Baghdad.

There are about 2,500 U.S. troops in Iraq and most Iraqis want them to leave. (In 2020, Iraq’s parliament passed a resolution demanding the expulsion of U.S. troops after the U.S. killed Iran’s Quds Force commander, Qasem Soleimani, and Popular Mobilization Forces (PMF) leader Abu Mahdi al-Muhandis.) The governments recently announced an agreement on the Americans’ departure, though the U.S. refuses to explain how many troops will remain in Iraq and what they will be doing. The story put out for public consumption is that the goal is the “enduring defeat” of the Islamic State (IS), so will the U.S. try to declare the Islamic State is still a threat to delay withdrawing in order to support Israel against Hamas, Hezbollah, and the Iraqi militias, and bolster Washington’s clients, the Iraqi Kurds?

And the Americans aren’t the only uninvited guests: Iraq hosts around 300,000 refugees and asylum seekers, mostly Syrian Kurds, and over 1 million Iraqis remain internally displaced by Islamic State insurgency.

The U.S. still influences Iraq by requiring a sanctions waiver for Iraqi purchases of electricity from Iraq, and it recently banned all foreign transactions in Chinese Yuan. Washington still controls the disbursement of Iraq’s dollar-denominated oil revenues from an account at the Federal Reserve Bank of New York. In a final gesture of disrespect, the U.S. made a monthly disbursement of dollars to Iraq and at one point rationed dollars, claiming it was necessary to prevent smuggling and money laundering, though the move immediately devalued the Iraqi Riyal.

The Iran-influenced militia, the PMF, is now part of Iraq’s government, but that hasn’t stayed America’s hand when it decides to kill a PMF leader. Washington damaged itself in Iraq by killing PMF leaders Abu Mahdi al-Muhandis in 2020, and Mushtaq Talib al-Saidi and Mushtaq Jawad Kazim al-Jawari in 2024. Baghdad had moved the PMF, once a private militia, into the government in 2016 (no doubt with American encouragement), so the killing of PMF leaders, who were government officials, likely increased local support the PMF and weakened Iraqi leaders, the same leaders the U.S. then expects to stand up to Iran and purge the militias. This is about as realistic as the White House eradicating every trace of the Sinaloa Cartel from the U.S. In both countries, those groups survive, and thrive, because they have some popular support, but also because government agencies and powerful people in both countries benefit from their activities.

The Pentagon produced no “ticking bomb” rationale for the “self-defense” attacks that it always describes as “appropriate and proportionate,” and would have shouted it from the rooftops if there was. The Pentagon killed the PMF leaders because it could, and as a way to eliminate potential future problems in the future, ignoring the here-and-now problems it caused for Baghdad.

A recent drone attack on Israel launched from Iraq killed two Israeli troops and injured 24. Iraqis are concerned about Israeli retaliation, but this is a good opportunity for the U.S. to tell Israel to stand down, and to pass information on the attackers to Baghdad so it can demonstrably clean house. Allowing Israel to strike Iraq will weaken Iraqi leaders when Washington should be doing what it can to strengthen them; standing idly by when its Israeli client attacks another country with impunity will only hurt U.S. interests.

Israel is planning to attack Iran in retaliation for Iran’s retaliation to Israel’s killing its allies in Hamas and Hezbollah and Iranian military officers, the attack on its consulate in Damascus, Syria. And, hopefully, to slow Iran’s nuclear program. The most direct routes are through Iraq and Saudi Arabia but Iraq’s foreign minister said the expansion of war to Iran via Iraq’s airspace is “unacceptable.”

Washington generally has a permissive attitude to whatever Israel wants to do, so if the attackers cross Iraq the assumption will be that the Americans approved, or did not disapprove, of the attack on Iran. This will dilute support for the U.S., weaken U.S.-friendly politicians, and strengthen the hands of Moscow and Beijing, who won’t mind seeing the Americans entangled in the expansion of the Israel-Palestine civil war into a regional conflict (and Russian and Chinese oil investors in Iraq won’t mind the price spike.)

Iraq’s prime minister, Mohammed Shia’ Al Sudani, visited the White House in April 2024 and his focus was the economic relationship between the U.S. and Iraq, especially because about 60 per cent of Iraq’s population is under the age of 25, and high youth unemployment (or under-employment) is a drag on the economy and a recruiting opportunity for Iran and the Islamists.

When Americans think of Iraq in economic terms it’s all about the oil, but in November 2023 ExxonMobil, America’s biggest oil company, exited Iraq with nothing to show for a decade-long effort. (PetroChina took over ExxonMobil’s role and now owns the biggest share in the West Qurna 1 oilfield, one of the world’s biggest with estimated recoverable reserves of over 20 billion barrels.) The departure will lower the expectations of other U.S. companies, but Sudani wants to revitalize economic ties with America.

Russia has invested over $19 billion in the Iraq energy sector with LUKOIL, Gazprom Neft and Rosneft the top investors. In early 2024, Gazprom, the Russian natural gas giant, was awarded the development contract for the Nasiriyah oil field, which holds an estimated 4.36 billion barrels.

Iraq is balancing between Russia and China to avoid becoming a client state, and American investment would increase Baghdad’s autonomy, but that’s assuming Washington doesn’t intend to do the same as Moscow and Beijing. In the absence of U.S. investment, Iraq may still be able to fund a diversified economy with oil income and that be less efficient than non-energy foreign direct investment, but Iraq has to make up for lost time since 1980, when Saddam Hussein ordered the invasion of Iran, and can’t afford to delay.

U.S.-Iraq trade has room for growth. In 2022, the U.S. exported $897 million in goods, the top product being automobiles. Iraq, in turn, exported $10.3 billion in goods, most of it crude oil.

A key economic objective of Iraq is the $17 billion Development Road, an overland road and rail link from the al-Faw port on the Persian Gulf to Europe via Turkey, that will host free-trade zones along its length. This initiative is designed to shorten travel time between Asia and Europe, potentially competing with Egypt’s Suez Canal.

The project is expected to enhance Iraq’s geopolitical position, promote regional stability, and reduce the country’s reliance on hydrocarbons by providing financial returns through increased trade. However, it faces challenges such as financing, implementation, corruption, and potential insecurity.

The Development Road may benefit from connecting to other transport projects in the area: the International North–South Transport Corridor, the ship, rail, and road route for moving freight between India, Russia, Iran, Europe, and Central Asia; and the Middle Corridor, an alternative to the Northern Corridor through Russia, which connects Southeast Asia and China to Europe via Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, and Turkey.

Though the projects may be complementary, they may also compete for funding so no project is fully realized and each sees only minor improvements in the host country’s infrastructure.

The U.S. president and the Iraqi prime minister should consider the shape of the future U.S.-Iraq relationship, which has to now been securitized, first by the Cold War, then the invasion of Kuwait and the resulting sanctions campaign, the U.S.-led invasion, and finally the Islamic State insurgency. The 2003 invasion weakened the Iraqi state and invited greater Iranian influence which the U.S. should help Baghdad dilute, though the two countries share a common religion and some tribal areas straddle the Iraq-Iran border, so Baghdad and Tehran will probably always be too close for Washington’s liking.

Where Iran is concerned, in Washington, DC it’s always 1979.

America’s leaders’ challenge is to understand the concept of “sunk cost,” which means the approximately 4,500 U.S. military deaths, and the $2.1 trillion spent (mostly borrowed) in a war of choice is no reason to linger in Iraq, though the “enduring defeat” of the IS may give the project a new lease on life.

Iraq is the best modern example of The Meddler’s Trap, “a situation of self-entanglement, whereby a leader inadvertently creates a problem through military intervention, feels they can solve it, and values solving the new problem more because of the initial intervention. …A military intervention causes a feeling of ownership of the foreign territory, triggering the endowment effect.”

The U.S. and Iraq need to move from a security relationship to an economic relationship, and for Iraq to be a full partner the Americans may have to surrender their stranglehold on Iraq’s oil revenues, which gives the U.S. outsized influence with a key member of the Organization of the Petroleum Exporting Countries. If Washington is reluctant to do business, Iraq can always explore joining BRICS (Brazil, Russia, India, China, South Africa), though it will have to present the organization with a rationale other than “We have hydrocarbons,” which the current members, that include Russia, Iran, Saudi Arabia, and the United Arab Emirates, have in abundance.

Iraq is a member of the China-led Asian Infrastructure Investment Bank which may be a source of assistance to diversify its economy and infrastructure to make it more attractive to BRICS, or it may get more attention from China if Beijing senses Washington is bedeviled by a lack of imagination. Iraq joined China’s Belt and Road Initiative in 2015 and has received approximately $10.5 billion as of 2021, with investments focusing on energy projects, infrastructure development, and construction.

The U.S. can help Iraq navigate its way to a prosperous future for Iraqi youth, but both countries will have to distance themselves from Jerusalem and Tehran because indulging those two often promotes self-harm instead of cooperation and opportunity.

END

UKRAINE/RUSSIA/USA

Pentagon Chief Visits Ukraine, Unveils New Aid Package, Ahead Of US Election

Monday, Oct 21, 2024 – 07:40 PM

Secretary of Defense Lloyd Austin arrived in Ukraine’s capital by train on an unannounced visit Monday, at a moment Ukraine’s forces are getting steadily pushed back in the east, and as President Zelensky expresses frustration at the lack of large-scale new military aid.

“It’s been absolutely remarkable that Ukraine has been able to do what it’s done,” Austin told reporters as he went into Ukraine Sunday night. “It’s been able to do that, of course, because of the fact that we have supported them from the very beginning, and we’ve rallied some 50 countries to be a part of that support.”

In Kiev, Austin announced $400 million in new arms for Ukraine but did not acquiesce to the Ukrainians’ main ask – the greenlight to strike Russia with US-supplied weapons.

The Wall Street Journal also emphasized of the package, “It was one of the smaller aid packages the Biden administration has announced and included no new types of weapons systems.”

This trip to Ukraine is likely to be Austin’s last one there as Pentagon chief. CNN noted that it came amid a dark and pessimistic backdrop:

The secretary’s visit was also meant to serve as a moment for him to “step back” and look at the “arc” of the US-Ukraine relationship over the last two and a half years of war, a senior defense official said.

It was not a victory lap, however. The Ukrainians are in a “very tough” situation against the Russians heading into winter, the official noted.

There was one moment in Austin’s remarks clearly aimed at Trump and Republican lawmakers back home. Amid ongoing GOP criticisms, including calls to take care of Americans first amid natural disasters instead of handing billions over to Ukraine, the defense secretary tried to brush back these arguments…

“For anyone who thinks that American leadership is expensive, well, consider the price of American retreat,” Austin said.

“Not since World War II has America systematically rallied so many countries to provide such a range of industrial and military assistance for a partner in need.”

Pentagon chief Lloyd Austin has arrived in Kyiv on an unannounced visit. He will meet Volodymyr Zelenskyy and Defense Minister Rustem Umierov to discuss Ukraine's arms needs. pic.twitter.com/TPWU3CMRdc
— NEXTA (@nexta_tv) October 21, 2024

Zelensky last month lashed out at Trump running-mate J.D. Vance, calling him “too radical” for his stance on the war. The Ukrainian leader expressed that “the idea that the world should end this war at Ukraine’s expense is unacceptable.”

Clearly Austin’s Monday words were framed in response to that controversy, and some GOP operatives are not going to be happy that the Pentagon chief used an official visit abroad to weigh in. But one question that remains is: How much for North Carolina?

END

Ukraine destroys 42 Russian drones in overnight attack, air force says

By ReutersToday, 9:39 a

Ukrainian air defenses destroyed 42 out of 60 drones launched by Russia during an overnight strike, Kyiv’s air force says.

The drones were downed over parts of central, southern and eastern Ukraine, it adds.

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

GLOBAL ISSUES

MARK CRISPIN MILLER

DR PAUL ALEXZANDER

These moronic Africans handed this ape an AK-47, look what happens next & Dr. James Hill, MD is telling us same here, we imported the islamist jihadist, the feral 3rd world scum from South America,

Middle East, North Africa etc. and military aged, healthy, rapist, bombers, killers, and they will in turn like the ape kill us using guns we let them have! like the Tren de Aragua Venezuelan gang

Dr. Paul Alexander

‘More evidence millions of invaders will be handed guns to steal homes and kill us

Don’t let the media keep you asleep’

James Hill, MD

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

Upgrade to paid

Democrat plan to entrench one-party rule:

‘1.Flooding the US with illegals by air, land, sea

2.Prioritize the needs of the illegals over American citizens, ensures loyalty to democrat party

3.Keep them in US at all costs, even when they commit violent crimes

4.Give them privileges that are irrevocable, set up Sanctuary cities

5.Legalize mass mail in ballots

6.Permanent privileges

7.count non-citizens in the census to help tamper with census to change congressional districts

8.use US tax dollars to pay for it’

Excellent post Dr. Hill.

https://www.youtube-nocookie.com/embed/GhxqIITtTtU?rel=0&autoplay=0&showinfo=0&enablejsapi=0

More evidence millions of invaders will be handed guns to steal homes and kill us (substack.com)

___

You must not wait for another catastrophic crisis (at times manufactured but we are prevented from making our own basic personal decisions or accessing needed drugs and response tools) to catch you off-guard. We must take charge and be prepared today so that we can enjoy peace of mind tomorrow.

Enter the Wellness Company as a solution and a willing participant in the health care conversation. From telemedicine, prescriptions, memberships, and supplements, TWC is leading America with alternative choices to the traditional health care model.

SLAY NEWS

Non-Covid ICU Deaths Surged Among Vaccinated, Study Finds A group of medical researchers has just exposed an alarming surge in deaths among Covid-vaccinated patients admitted to hospital intensive care units (ICU).READ MORE

Bill Gates Funding New ‘Globally Accessible’ Covid Vaccines Microsoft co-founder Bill Gates is funding the development of a new generation of Covid “vaccines.”READ MORE

Elon Musk Forced to Ramp Up Security After Leftist Outlet Labels Him ‘Public Enemy No 2’An influential left-wing magazine has declared that X boss Elon Musk is now “Public Enemy No. 2” after President Donald Trump.READ MORE

‘Vaxxed & Boosted’ 30-Year-Old Pilot Dies ‘Suddenly’: ‘Wake Us Up from This Nightmare’A 30-year-old airline pilot has tragically died “suddenly,” according to his devastated family.READ MORE

Pelosi Claims She Forced Biden to Drop Out Because She Didn’t Like His Campaign Strategy Rep. Nancy Pelosi (D-CA) has commented on the campaign led by herself and other top Democrats to force President Joe Biden to end his re-election bid.READ MORE

Burlington, Vermont Residents Lament Surge of Drugs, Homelessness, Crime Residents in “progressive” Burlington, Vermont are complaining about the worsening conditions in the state’s most populous city.READ MORE

Adam Schiff Faces Ethics Investigation for Claiming 2 ‘Principal’ Residences Democrat Rep. Adam Schiff (D-CA) is facing an ethics investigation over allegations he made false statements about his primary residence.READ MORE

Mail-In Voting Numbers in Pennsylvania Reveal Success of GOP Ballot Chase Operations Mail-in ballot return data has revealed a major swing for President Donald Trump and Republicans in the state.READ MORE

Michigan Rally Attendee Asks Kamala Harris: ‘Will You Marry Me?’Democrat presidential nominee Kamala Harris was presented with an unusual question from a rally attendee over the weekend.READ MORE

NEWS ADDICTS

Top Doctor Blows Whistle on Skyrocketing Cancer Deaths: ‘Vaccinated Are Dying’A top doctor has blown the whistle to warn that Covid mRNA vaccines are responsible for the skyrocketing cancer cases being reported all around the world.READ THE FULL REPORT

House Report Reveals Trump Prosecutor Nathan Wade Met with White House Nathan Wade, the Georgia lawyer tapped to prosecute former President Donald Trump by his onetime lover, Fulton County prosecutor Fani Willis, had extensive communications with the Biden-Harris White House, new records show.READ THE FULL REPORT

REPORT: Sinwar told Hamas not to agree to any future Israeli proposals and here’s why…The terrorist butcher of Israeli innocence reportedly knew that his time was coming to an end and told his terrorist accomplices not to agree to any future Israeli proposals.READ THE FULL REPORT

Key State’s Early Voting Data Gives Trump, Republicans Reason to Cheer New data from Florida has revealed that Republicans are taking a lead over Democrats in early voting for the 2024 general election.READ THE FULL REPORT

Handwriting Analysis Expert Catches Cassidy Hutchinson in Apparent False Testimony A handwriting analysis of a tweet draft is the latest piece of evidence contradicting the testimony of star Jan. 6 witness Cassidy Hutchinson who has come under fire from House Republicans for her role in the investigation led by the Democrat-controlled Jan. 6 Select Committee.READ THE FULL REPORT

EVOL NEWS

Watch: Thousands Line the Streets to See Trump Drive to Work at McDonald’s – EVOL READ MORE…

LATEST NEWS:

Nevada’s Early Voters Show Passion as Republicans Turn Out in Numbers – EVOL Read more…Christian Students Kicked Out of Kamala Rally After Saying ‘Jesus Is Lord’ – EVOL Read more…Two US Navy Members Killed After Aircraft Crashed During Training Exercise in Washington – EVOL Read more…FBI, Cyber Agency Issue ‘Disinformation’ Warning 2 Weeks Before Election – EVOL Read more…Trump Campaign Pushes Back on Reports He’s ‘Exhausted’ – EVOL Read more…WATCH: Trump Serves Up Fries, Works Drive-Thru At PA McDonald’s – EVOL Read more…CNN Panelist Says White People Should Be “Held Accountable” If They Don’t Vote For Kamala – EVOL Read more…Trump serves disturbing message through McDonald’s drive-thru window – EVOL Read more…

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

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

CANADA

END

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

EURO VS USA DOLLAR: 1.0816 UP 0.0006

USA/ YEN 150,86 UP .291 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 1.2979 DOWN .0004

USA/CAN DOLLAR: 1.3831 DOWN 0.0003 (CDN DOLLAR DOWN 32 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 17.76 PTS OR 0.54%

Hang Seng CLOSED UP 02.49 PTS OR 0.10%

AUSTRALIA CLOSED DOWN 1.57%

// EUROPEAN BOURSE: ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL RED

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 20.49 PTS OR 0.10%

/SHANGHAI CLOSED UP 17.76 PTS OR 0.54%

AUSTRALIA BOURSE CLOSED DOWN 1.57%

(Nikkei (Japan) CLOSED DOWN 524.64 POINTS OR 1.39%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 2732.20

silver:$34.33

USA dollar index early TUESDAY morning: 103.80 DOWN 4 BASIS POINTS FROM MONDAY’s CLOSE.

TUESDAY MORNING NUMBERS ENDS

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And now your closing TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.734% UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.966% UP 0 AND 6/ 10 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.995 UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 3.523 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2910 UP 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES : TUESDAY

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

Euro/USA 1.0803 DOWN .0012 OR 12 basis points

USA/Japan: 150.76 UP 1.34 OR YEN IS DOWN 134 BASIS PTS//

Great Britain 10 YR RATE 4.175 UP 2 BASIS POINTS //

Canadian dollar DOWN .0010 OR 10 BASIS pts to 1.3822

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The USA/Yuan, CNY ON SHORE CLOSED DOWN 7.1216 (ON SHORE)

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.1357)

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

the 10 yr Japanese bond yield at +0.966

Your closing 10 yr US bond yield DOWN 1 in basis points from FRIDAY at 4.178% //trading well ABOVE the resistance level of 2.27-2.32%)

USA 30 yr bond yield 4.471 DOWN 2 in basis points /11:00 AM

USA 2 YR BOND YIELD: 4.017 DOWN 1 BASIS PTS.

GOLD AT 11;00 AM 2741.20

SILVER AT 11;00: 34.58

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

London: CLOSED DOWN 11/7- PTS OR 0.14%

German Dax : CLOSED DOWN 39.28 OR 0.20%

Paris CAC CLOSED DOWN 1.13 PTS OR 0.01%

Spain IBEX CLOSED DOWN 8.40 OR 0.07%

Italian MIB: CLOSED DOWN 222.43 OR 0.64%

WTI Oil price 71.19 12 EST/

Brent Oil: 74.80 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 96.54 ROUBLE UP 0 AND 26/100

GERMAN 10 YR BOND YIELD; +2.2910 UP 1 BASIS PTS.

UK 10 YR YIELD: 4.175 UP 2 BASIS POINTS

CDN 10 YEAR RATE: 3.236 UP 0 BASIS PTS.

CDN 5 YEAR RATE: 2.993 DOWN 1

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0798 DOWN 0.0017 OR 17 BASIS POINTS

British Pound: 1.2981 DOWN 0.0002 OR 2 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.1690 UP 3 BASIS PTS//

JAPAN 10 YR YIELD: 0.9620

USA dollar vs Japanese Yen: 151.12 UP 0.496 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.3816 DOWN 0.0017 CDN dollar UP 17 BASIS PTS

West Texas intermediate oil: 72.24

Brent OIL: 75.85

USA 10 yr bond yield UP 2 BASIS pts to 4,205

USA 30 yr bond yield UP 1 BASIS PTS to 4.491%

USA 2 YR BOND: UP 1 PTS AT 4.035

CDN 10 YR RATE 3.247 DOWN 1 BASIS PTS

CDN 5 YEAR RATE: 2.999 DOWN 1 BASIS PTS

USA dollar index: 103.92 UP 8 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.24 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 95.75 UP 1 AND 05/100 roubles

GOLD 2,745.90 3:30 PM

SILVER: 34.72 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 6.71 PTS OR 0.016%

NASDAQ UP 22.18 PTS OR 0.11%

VOLATILITY INDEX: 18.13 DOWN .24 PTS OR 1.31%

GLD: $253.93 UP 2.71 OR 1.08%

SLV/ $31.74 UP 0.89 OR 2.88%

TORONTO STOCK INDEX// TSX INDEX:DOWN 6.63 PTS OR .03%

end

USA AFFAIRS

USA TRADING TODAY IN GRAPH FORM

:Gold Hits New Record High As ‘Trump Trade’ Takes Off; Crude & Mega-Caps Gain

Tuesday, Oct 22, 2024 – 04:00 PM

‘Soft’ Survey data today (from Philly and Richmond Feds) were better than expected BUT – and it’s a big but – inflation expectations are surging once again…

Source: Bloomberg

…and current and expected spending on software and equipment (cough AI cough) is plunging?

Source: Bloomberg

The surge in Prices Paid and Received dominated the downside in capex from the surveys and sent rate-cut expectations (hawkishly) lower again on the day…

Source: Bloomberg

So with all that said – and ignored – the market is now transfixed on the election… and the bets are one-way… on Trump…

Source: Bloomberg

Prediction markets are soaring in Trump’s favor and even the polls are swinging higher now…

Source: Bloomberg

Overall the majors spent most of the day under-water but an afternoon drift higher lifted Nasdaq and The Dow into the green for the day but a very late-day selloff spoiled the party…

Mega-Cap tech saved the day (with a new record high for the basket) from being really ugly…

Source: Bloomberg

Treasuries were mixed to flat today with none of the curve ending more than 1bps different close to close (the long-end was slightly more bid)…

Source: Bloomberg

The dollar continued its charge higher – albeit only modestly today…

Source: Bloomberg

Another day, another record high for gold, trading within pennies of $2750…

Source: Bloomberg

Silver also continues to outperform gold…

Source: Bloomberg

Crypto went nowhere fast today, with Bitcoin chopping around $67,000…

Source: Bloomberg

Crude prices rallied on the day, with WTI back above $70…

Source: Bloomberg

Finally, as gold accelerates, global liquidity (proxied by global M2) has turned down…

Source: Bloomberg

…but bitcoin has only just started to catch up with the tsunami…

Source: Bloomberg

We agree with PTJ on this one – not seeing either as an election trade, but as an inflation trade…”I think all roads lead to inflation. I’m long gold. I’m long Bitcoin. I think commodities are so ridiculously under-owned, so I’m long commodities.

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

END

III USA ECONOMIC NEWS

Meet Enemy No2 Elon Musk following NO 1 Trump. The Media are attacking Musk because of his free speech agenda.

(Steve Watson)

Elon Musk Says He’s “Upgrading Security” After Being Named “Enemy Number Two” By Media

Monday, Oct 21, 2024 – 07:15 PM

Authored by Steve Watson via Modernity.news,

X owner Elon Musk says he is increasing his security after receiving “vitriolic” threats for endorsing president Trump.

Appearing at a town hall event in Pittsburgh Sunday, Musk told the crowd about being pictured on the cover of Der Spiegel magazine, which labeled him ‘Public Enemy No. 2’ – behind Trump.

German SPIEGEL hates freedom.

Mainstream journalism is a complete joke – citizen journalism is the future. Thank god, Elon Musk bought Twitter and made it X. pic.twitter.com/NE3nZcMJSd
— Miró (@unblogd) October 20, 2024

“I’m like, enemy number 2 of what? Uh, democracy?” Musk told the crowd, adding “I mean I’m pro-democracy. I’m literally trying to uphold the Constitution and ensure we have a free and fair election.”

Musk added, “I’m definitely upgrading my security,” quipping “Guess I better cancel that open-car parade.”

The Tesla CEO admitted that he is a “little shook” by the “level of vitriolic hatred on the left.”

🚨ELON MUSK: "I hope I don't get shot. I was just on a German magazine saying I was 'enemy number two.' Enemy number two of what? I'm definitely upgrading my security. Maybe I should put an inflatable dummy of me in a motorcade. Just troll them." 😂🔥 pic.twitter.com/bxocA7K5Mt
— Autism Capital 🧩 (@AutismCapital) October 20, 2024

“They claim they’re tolerant. And yet, they’re incredibly intolerant and spewing hate,”Musk said, adding “Whereas on the right I see people who tend to regard people on the left as, well, misguided. But they don’t hate them.”

“But the amount of hate coming from the left is like, wow, next level,” he continued.

Here’s the full event:

Musk is no stranger to threats since taking over Twitter in an effort to preserve free speech.

Elon Musk Says “Two Homicidal Maniacs” Tried To Murder Him Recently

Musk has come under sustained attack since coming out for Trump.

Clinton Labour Secretary Calls For “Global Regulators” To Arrest Elon Musk

Deranged leftists, such as Mark Cuban, are openly advocating sanctioning Musk’s companies because of his political opinions.

This is insane. Joe Scarborough and Mark Cuban are openly arguing that Elon Musk deserves to have his businesses punished because of his political opinions.

It really is Donald Trump or communism. pic.twitter.com/ezTRIBJVFF
— 🇺🇸Travis🇺🇸 (@Travis_4_Trump) October 19, 2024

Musk has repeatedly warned that if Trump doesn’t win the election, it could be the last and that civilisation is on the line.

Elon At Butler Rally: “Vote Trump Or This Will Be The Last Election”

* * *

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

end

This betting tool is killing media with respect to polls, interest rates etc.

(zerohedge)

Polymarket Is Singlehandedly Moving The Entire US Bond Market

Tuesday, Oct 22, 2024 – 03:05 PM

Online betting exchange Polymarket has not only taken the attention space by storm, rapidly becoming one of the most downloaded Apple apps…

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 pic.twitter.com/wnyyck4ebB
— zerohedge (@zerohedge) October 17, 2024

… it is also quickly becoming a key driver behind the world’s largest and most liquid bond market.

According to Bloomberg’s Masaki Kondo, Polymarket has become instrumental in setting at least the near-term price signals not only for the $28 trillion marketable US Treasury markets, but also for FX markets: that’s because both Treasuries and the Mexican peso appear to be pricing in a rising probability of Donald Trump winning the US presidential election, as indicated by Polymarket, while ignoring traditional polls which for the most part still show Kamala in the lead.

As Bloomberg chart below shows, the benchmark 10Y yield has been closely tracking the spread in the perceived odds of a vote victory between Trump and Kamala Harris. This difference has now surpassed 30% points, according to the latest data from Polymarket, with Trump seen as a odds-on favorite, and where Polymarket competitors such as Kalshi and PredictIt now also show almost identical odds albeit with a notable delay behind Polymarket, which has emerged as the undisputed leader in the online betting space.

In FX, USDMXN has also been tracking the Polymarket spread higher.

Even such Bloomberg luminaries as John Authers admit Polymarket’s role in setting bond prices:

In the last few months, it’s striking that the 10-year yield has traced the Trump odds according to Polymarket — an offshore market that may be over-influenced by a few large bettors, but which seems to be driving opinion on Wall Street.

Of course, Polymarket is just the starting signal: the actual driver behind the blowout move in yields, which as we noted earlier have surged by a whopping 50bps since the Fed’s very unironic 50bps rate cut one month ago…

… is a Pavolian response to what happened last time Trump won. Indeed, bond trader memory may still be fresh as the 10-year yield soared almost 80bps in about a month after Trump’s last victory in November 2016.

Granted, one can argue that “this time is different”, as the jump in yields back then was in part driven by the start of the Fed’s tightening cycle while the direction of Fed policy is the opposite now (even if paradoxically yields have surged since the Fed cut rates), but the kneejerk reaction to a market that is now aggressively pricing in a Trump presidency (see “Wall Street Going “All-In On Trump“) is clearly there.

Incidentally, a Trump win leading to higher yields would also underscore our observation made back in June, that a resilient US economy, one where deficits will only grow, will prevent the central bank from cutting interest rates as fast as a slowdown in inflation would suggest. Moreover, for the Mexican peso, Trump’s proposed tariffs on imports is seen as a major negative.

Then again, that may just be the first leg of the trade: the second one will be when yields tumble because, as Michael Hartnett warned, the outcomes of the election will be two: i) the next trade war with China will be deflationary and ii) the result of the election will see a big drop in government spending and thus, inflation.

For now however, keep an eye on how fast and how high yields will rise along with odds of a Trump presidency, and when stocks will finally notice the ongoing rout in the bond sector. For some clues on the latter, Goldman trader Ryan Sharkey warns that historically, a 2 standard deviation move in US 10 yr yield, equivalent to around 60 bps today over a month, is when equity market returns start to get hit.

As Goldman concludes, given we’ve moved 46bps MTD, this simple rule of thumb argues that a move towards 4.30% is where things would get tricky for stocks: speed of the move matters and keep an eye on real yields.

Better yet, just keep your eye on Polymarket.

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

KING REPORT

The King Report October 22, 2024 Issue 7353

Independent View of the News

With upward expiry bias over and no impact earnings from Fangs to excite the various classes of traders, US stocks sank early on Monday. But Nvidia soared to an all-time high! Even with Nvidia’s rally, the NY Fang+ Index was negative. Yes, Virginia, the US stock market leadership is thinning further!

The big financial news of the day: Bonds got hammered. The US 10-year yield hit 4.185%, the highest yield since July 26, 2024.

@FinanceLancelot: U.S. 10 Year Yield just broke above resistance. Are we about to have a devastating 2nd wave like 1968? (Chart)  https://x.com/FinanceLancelot/status/1848162080177738144

It is crystal clear to anyone paying attention that Mr. Bond is extremely upset with the Fed’s jumbo rate cut and Team Obama-Harris’s titanic spending spree for the election.

ESZs traded moderately higher but sideways in early Nikki trading on the usual buying for the expected Monday Rally. After 22:00 ET, ESZs started leaking oil. A persistent but moderate decline ended with the usual buying near the 3 ET European opening. An 11-handle rally appeared but that was it. ESZs then traded in a 9-handle range until they broke down after at 5:19 ET.

ESZs hit a low of 5883.00 at 7:20 ET, the usual suspects bought for the NYSE opening, the related pump & dump, and the Monday Rally.   ESZs zoomed to 5908.50 at 10:09 ET. When a critical mass of equity traders realized that Mr. Bond was having a fit, they sold ESZs and stocks. ESZs tumbled to a daily low of 5865.00 at 11:30 ET. The reflexive bounce after a decline into the European close conflated with a Noon Balloon and early afternoon rally.   ESZs hit 5892.75 at 14:00 ET.

After a retreat to 5881.25 at 15:04 ET, the last-hour manipulation appeared. ESZs jumped to 5891.75 at 15:26 ET and then rolled over. The late manipulation pushed ESZs to 5897.75 at 15:59 ET.

Positive aspects of previous session
Nvidia soared and dragged Fangs higher.

Negative aspects of previous session
Bonds got hammered; the 10-year yield hit a three-month high.
The DJIA and DJTA declined sharply.
Gold and precious metals rallied modestly.

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: Up

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5848.56
Previous session S&P 500 Index High/Low: 5866.92; 5824.79

@ElliotKaufman6: WSJ reports that Sinwar cited pressure from the Israeli opposition and the White House as reasons to reject a hostage deal and hold out for more.
https://x.com/ElliotKaufman6/status/1848351701335417166/photo/1

@BillAckman: Pressure on @Israel from the Biden/@KamalaHarris administration had the effect of decreasing the likelihood of a hostage deal because it emboldened Hamas. Grim.

@JewishWarrior13: Israel has asked the US to send another THAAD battery (Nir Davori, Channel 12). The more THAAD batteries that Israel asks for, the harsher the attack against Iran will be.

Will an Israel-Iran war be the October Surprise?

Joe Biden will no longer appear on the campaign trail with Kamala Harris: NBC News

Elon Musk to upgrade security after left-wing magazine labels him ‘Public Enemy No. 2’ https://t.co/hJmQUmpU9G

With gold, stocks, and house prices at all time high plus a bubble in Fangs, dopey SF Fed President Daly on Monday night said: Monetary policy is absolutely still tight – BBG 18:53 ET

Daly said the neutral rate might be 2.5% to 3%. A few hours earlier, Minneapolis Fed President Kashkari said the neutral rate might be higher than thought and large US deficits could push rates higher.

Today – Though Monday was a horrible day for equities due to Mr. Bond, traders will eagerly play for a Turnaround Tuesday to the upside. If Mr. Bond behaves today, the usual suspects will push ESZs and Fangs higher.

ESZs -5.50 and NQZs are -29.00 on Monday night buying while USZs are -5/32 20:40 ET.

Expected econ data and events: Oct Phil Fed Non-Mfg 4.1; Oct Richmond Fed Business Conditions -17; Phil Fed Pres Harker 10:00 ET

Expected impact earnings: DHR 1.55, GM 2.44, KMB 1.70, PCAR 1.82, PHM 3.13, FCX .37, LMT 6.43, VZ 1.18, NSC 3.11, MCO 2.87, MMM 1.91, PM 1.81, GE 1.13, BKR .61, TXN 1.37, PKG 2.48

S&P Index 50-day MA: 5653; 100-day MA: 5550; 150-day MA: 5426; 200-day MA: 5313
DJIA 50-day MA: 41,601; 100-day MA: 40,534; 150-day MA: 39,989; 200-day MA: 39,596
(Green is positive slope; Red is negative slope)

S&P 500 Index (5853.98 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 5512.00 triggers a sell signal
Daily: Trender and MACD are positive – a close below 5781.12 triggers a sell signal
Hourly: Trender and MACD are negative – a close above 5873.50 triggers a buy signal

@JasonMillerinDC: @KamalaHarris isn’t allowing press into her @CNN town hall???   Is that because they don’t want the media to see her teleprompters???

Kamala Harris town hall host Maria Shriver says crowd can’t ask questions because they’re ‘pre-determined’ (Then it is not a “town hall.” It’s a staged event that shelters her!) https://trib.al/i42qgGf

Actor @RealJamesWoods: Day drinker… https://x.com/RealJamesWoods/status/1848018557952487633

Trump’s genius McDonald’s stunt will fry Kamala at the ballot box
First, it reminded voters that his rival, Kamala Harris, has repeatedly boasted about having a summer job at McDonald’s to make her sound more relatable to her fellow Americans, but to date, not a single person has been able to verify this… she didn’t mention it in her memoir, nor does it appear on the 1987 résumé she submitted when applying for a position at the Alameda County District Attorney’s Office despite listing her other work experiences.

@bonchieredstate: The New York Times did a “fact-check” on Kamala Harris working at McDonald’s and were unable to verify any of her claims. So, what’d they do? They just quoted her campaign and pronounced Trump a liar based on their word. Wild.

Left McTriggered After Trump Does Fun Publicity Stunt
This is how you know the publicity stunt worked…
https://www.zerohedge.com/political/left-mctriggered-after-trump-does-fun-publicity-stunt

Triggered: Kamala’s Running Mate Tim Walz Fires Off Psychotic Social Media Response to Trump’s McDonald’s Work – “This guy spent decades stiffing workers pay, cut overtime benefits for millions of people, and opposed any effort to raise the minimum wage,” Walz wrote in his post. “You know who has actually worked at McDonald’s, joined workers on picket lines, and fights for working people?” Walz added, “@KamalaHarris.”… https://t.co/uVgttB3Vme

@WesternLensman: Walz says Trump disrespected McDonald’s workers by going to work at a McDonald’s. The more they attack this, the more out of touch they look. Retail politics masterstroke from Trump.  https://x.com/WesternLensman/status/1848409521368023355

@kerpen: You can login to the Social Security website and see your entire earnings history. Check it out: https://secure.ssa.gov/ec2/eligibility-earnings-ui/earnings-record#   It would take Kamala Harris 5 minutes to pull up the screenshot of her alleged 1983 McDonald’s earnings… Why hasn’t she?

Team Obama-Harris and their media stooges are apoplectic over Trump’s MCD stunt. This tells you it was highly effect. Dem/MSM hypocrisy alert! The Dems/Team Obama-Harris whine that Trump’s MCD stunt was staged, but Joe and Kamala hold staged events repeatedly, some with paid actors.

@toddstarnes: The Harris Campaign literally ordered customers to leave a Primanti Bros. restaurant to stage a fake event with paid actors. Not a single Legacy Media outlet complained. Not a one. But Trump working the fryer at McDonalds and all you-know-what breaks out.

@TrumpWarRoom: Tampon Tim continues his “media blitz aimed at male voters” by appearing on…. The View.  https://x.com/TrumpWarRoom/status/1848380786166178002

@greg_price11: Kamala: “I know this is a controversial topic for many of us, but I love Gen Z. Ha Ha Ha Ha!”  https://x.com/greg_price11/status/1848399203669618917

@TrumpWarRoom: Kamala: Campaigning with very washed up and bitter war hawk Liz Cheney.  Trump: Praying with victims of the hurricane in Asheville, NC. (Jarring contrast!)
https://x.com/TrumpWarRoom/status/1848403087364370435

Trump Roasts Liz Cheney and Kamala with a Harsh Reminder in Michigan
“Arab Voters are very upset that Comrade Kamala Harris, the Worst Vice President in the History of the United States and a Low IQ individual, is campaigning with ‘dumb as a rock’ War Hawk, Liz Cheney, who, like her father, the man that pushed Bush to ridiculously go to War in the Middle East, also wants to go to War with every Muslim Country known to mankind. Remember, Liz Cheney lost her Congressional Seat by the LARGEST margin, 40%, in History for a sitting Congressperson,” Trump posted on Truth Social Monday…  https://townhall.com/tipsheet/katiepavlich/2024/10/21/trump-gives-michigan-a-harsh-reminder-as-kamala-campaigns-with-liz-cheney-n2646517

The Obama-Harris Marxists running Kamala’s campaign really don’t understand average Americans.

@LauraPowellEsq: Kamala Harris was admitted to law school under a program for students “who have experienced major life hurdles, such as educational disadvantage, economic hardship, or disability.”
    Kamala Harris’s mother came from the highest caste in India, but by moving to the U.S. and Canada, obtaining a prestigious degree, marrying a future Stanford professor, having a successful career as a cancer researcher, and sending her daughter to private schools, her daughter became unusually disadvantaged? Strange how that works….
   In 2004, Kamala’s mother recounted to an LA Times reporter how she was taken aback when an educator didn’t realize Kamala came from a privileged background.
https://x.com/LauraPowellEsq/status/1848474213537222982

Trump sends letter to CBS demanding unedited ’60 Minutes’ Harris transcript, teases potential lawsuit https://t.co/Hf7EO3jwiL

Massive migrant caravan heads to US southern border ahead of election
The caravan included migrants who were fleeing from Venezuela, Haiti, Honduras, and parts of Africa, according to the Daily Wire. The caravan departed the city of Tapachula in Mexico on Sunday, which is on the country’s Southern border with Guatemala.
https://justthenews.com/government/security/massive-migrant-caravan-heads-us-southern-border-ahead-election

Biden, Harris Fail to Call Netanyahu After Assassination Attempt; Trump, Starmer, Johnson Do https://t.co/j2dcfvQtE6

Marine Corps veteran removed from Delta flight, forced to change over ‘threatening’ shirt: ‘Just took my soul away’ – a flight attendant ruled that the passenger’s shirt which brought attention to military suicides was “threatening.”… “Do Not Give In To The War Within. End Veteran Suicide,” Banks’ shirt read… https://nypost.com/2024/10/19/us-news/delta-airlines-passenger-catherine-banks-removed-from-flight-for-threatening-military-suicide-shirt/

SWAMP STORIES FOR YOU TONIGHT

specil thanks to Robert H for sending this to us;

Shadow of Ezra on X: “Texas is the latest state to report election fraud, with claims that electronic machines are automatically flipping Donald Trump votes to Kamala Harris. Voters are being urged to double-check their printed ballots. Dominion Voting Systems has already issued legal threats in a https://t.co/kgpvZOuiKt” / X

No one is going to accept the result.

Texas is the latest state to report election fraud, with claims that electronic machines are automatically flipping Donald Trump votes to Kamala Harris.

Voters are being urged to double-check their printed ballots.

Dominion Voting Systems has already issued legal threats in a… pic.twitter.com/kgpvZOuiKt
— Shadow of Ezra (@ShadowofEzra) October 22, 2024

GREG HUNTER

SEE YOU ON WEDNESDAY

GOLD: NUMBER OF NOTICES FILED FOR OCT/2024. CONTRACT: 40 NOTICES FOR 4000 OZ or 0.1244 TONNES

total notices so far: 12,540 contracts for 1,254,000 Oz (39/000 tonnes)

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

total number of notices filed so far this month : 1358 for 6.790 million oz

Clint Siegner: Regulators won’t stop big bank malfeasance

James Turk says $50+ silver is days or weeks away, not months

Jan Nieuwenhuijs: A major shift as Western investors start buying gold

Futures Slide As Global Yields Surge

Oil surges on recent geopolitical updates; speakers & earnings ahead – Newsquawk US Market Open

More Newsquawk in 3 steps:

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

APAC mixed while European futures point towards a positive open, ECB & Fed speakers ahead – Newsquawk Europe Market Open

SNAPSHOT

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

US TRADE

EQUITIES

APAC TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

CRYPTO

GEOPOLITICS

EU/UK

Frequent Flyer Tax

Posted Oct 22, 2024 by Martin Armstrong |

“In Crisis Mode”: EU Automakers Slide Into First Sales Slump In Two Years

Hamas sources say Doha-based committee to head terror group after Sinwar killed

Tehran tells UN: Biden has signaled US approval for attack on Iran, will bear responsibility

Three said killed in Israeli strike on Beirut neighborhood near government hospital

Explosions reported in Beirut suburbs after IDF orders evacuations of buildings

Hospital in Beirut suburbs evacuated after Israel claims Hezbollah cash bunker below

New Israeli Air Raids Unleash Giant Fireballs, Chaos In Beirut

Air Force pounds Hezbollah’s Beirut stronghold after civilians told to evacuate area

Al-Sahel Hospital denies IDF accusation that Hezbollah storing half a billion dollars in underground bunker, but evacuates patients amid more than a dozen Israeli airstrikes

‘No room for escape’

Sirens trigger across central Israel following rocket barrage targeting Tel Aviv Iron Dome battery

Hezbollah also said it launched rockets at an Israeli naval base west of Haifa.

Additional rockets around the same time

Shin Bet confirms: Hezbollah drone succeeded in hitting Netanyahu’s Caesarea residence

Only hours earlier, a senior Hezbollah official had claimed responsibility for the drone attack.

Netanyahu’s response

FBI Believes US Intel Leak On Israel Was Likely A Government Insider, Not Hacking

Bibi was right: How Israel’s recent military successes boost his leadership – editorial

Israel’s recent military successes have boosted Netanyahu’s popularity, allowing him to continue to play the political game.

Biden and Harris were wrong

Lebanese hospital opens doors to journalists aiming to disprove IDF claim that it’s housing Hezbollah cash bunker

Iraq Stuck Between Israel And Iran As Tensions Rise

And there are other issues to vex Baghdad.

Where Iran is concerned, in Washington, DC it’s always 1979.

Pentagon Chief Visits Ukraine, Unveils New Aid Package, Ahead Of US Election

Ukraine destroys 42 Russian drones in overnight attack, air force says

These moronic Africans handed this ape an AK-47, look what happens next & Dr. James Hill, MD is telling us same here, we imported the islamist jihadist, the feral 3rd world scum from South America,

Middle East, North Africa etc. and military aged, healthy, rapist, bombers, killers, and they will in turn like the ape kill us using guns we let them have! like the Tren de Aragua Venezuelan gang

‘More evidence millions of invaders will be handed guns to steal homes and kill us

Democrat plan to entrench one-party rule:

Elon Musk Says He’s “Upgrading Security” After Being Named “Enemy Number Two” By Media

Polymarket Is Singlehandedly Moving The Entire US Bond Market

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