GOLD PRICE CLOSED UP $6.40 TO $2742.20
SILVER PRICE DOWN $0.02 TO $33.65
Gold ACCESS CLOSED $2743.85
Silver ACCESS CLOSED: $33.64
WE HAVE ENTERED OPTIONS EXPIRY WEEK WITH RESPECT TO COMEX GOLD AND SILVER CONTRACTS AND GOLD/SILVER OTC CONSTRACTS. WHERE THEY CROOKS ALWAYS WHACK THESE PRECIOUS METALS.
Bitcoin morning price:$68,254 UP 351 DOLLARS.
Bitcoin: afternoon price: $66,613 DOWN 1290 DOLLARS
Platinum price closing DOWN $0.100 TO $1026.70
Palladium price; UP 42.30TO $1202.80
END
*CANADIAN GOLD: $3811.18 UP 23.97 CDN dollars per oz( * NEW ALL TIME HIGH 3,811.18 CDN DOLLARS PER OZ//OCT 25 2024)
*BRITISH GOLD: 2117.07 UP 9.70 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2117,07 BRITISH POUNDS/OZ) OCT 25/2024
*EURO GOLD: 2,542.16 UP 16.55 Euros per oz //* (ALL TIME CLOSING HIGH: 2.544/58 EUROS PER OZ//OCT 22 //.2024)
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EXCHANGE
EXCHANGE: COMEX
CONTRACT: OCTOBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,734.900000000 USD
INTENT DATE: 10/24/2024 DELIVERY DATE: 10/28/2024
FIRM ORG FIRM NAME ISSUED STOPPED
152 C DORMAN TRADING 1
363 H WELLS FARGO SEC 6
661 C JP MORGAN 10
737 C ADVANTAGE 5 6
905 C ADM 4
TOTAL: 16 16
JPMorgan stopped 0/16
GOLD: NUMBER OF NOTICES FILED FOR OCT/2024. CONTRACT: 16 NOTICES FOR 1600 OZ or 0.0497 TONNES
total notices so far: 12,596 contracts for 1,259,600 Oz (39.179 tonnes)
FOR OCT
SILVER NOTICES:2 NOTICE(S) FILED FOR 10,000 OZ/
total number of notices filed so far this month : 1430 for 7.150 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 $6.40 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD: NO CHANGES IN GOLD INVENTORY AT THE GLD:
/ /INVENTORY RESTS AT 893.80 TONNES
INVENTORY RESTS AT 893.80 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.02 AT THE SLV
HUGE CHANGES IN SILVER INVENTORY INTO THE SLV: A DEPOSIT OF 3.06 MILLION OZ OF SILVER INTO THE SLV
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 480.231 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A FAIR SIZED644 CONTRACTS TO 155,545 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS FAIR LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR TINY GAIN OF $0.01 IN SILVER PRICING AT THE COMEX ON THURSDAY’S TRADING. WE HAD A HUGE GAIN OF 1581 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE THE TINY GAIN OF $0.01 IN PRICE. WE HAD CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS ON THURSDAY COMEX TRADING AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S CONTINUAL PRICE RISE. THIS LASTED ONE DAY AS SILVER ROSE A BIT ON THURSDAY BUT DOWN AGAIN FRIDAY. //. WE HAD SOME MINIMAL SHORT COVERING BY OUR SPECS DURING THE COMEX TIME ZONE THURSDAY.. WE HAD A MEGA HUGE 2225 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A FAIR 312 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING. IN ESSENCE WE GAINED A HUMONGOUS 1581 CONTRACTS ON OUR TWO EXCHANGES WITH OUR SLIGHT GAIN IN PRICE
PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN ON LAST FRIDAY AND AGAIN THIS WEEK. THE ACCUMULATED T.A.S. IS BEING USED TO MANIPULATE PRICES AT THE COMEX NOW EVERY DAY..
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON THURSDAY NIGHT: A FAIR 312 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 ONE CENT) AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUMONGOUS GAIN OF 1581 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES
WE HAD A HUGE 2225 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.355 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY;S 40,000 OZ QUEUE JUMP+ .195 MILLION OZ ISSUANCE OF EXCHANGE FOR RISK PRIOR//NEW TOTAL 7.385 MILLION OZ
//NEW STANDING FOR SILVER//OCT AT 7.385 MILLION OZ
WE HAD:
/ FAIR SIZED COMEX OI LOSS//HUGE SIZED EFP ISSUANCE/ VI) FAIR SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 312 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 341 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 18 DAYS, total 15,987 contracts: OR 79.935 MILLION OZ (888 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 79.935 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; 79.935 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH)
RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 644 CONTRACTS DESPITE OUR $0.01 GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 2225 ISSUED FOR DEC AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR OCT OF 5.355 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 40,000 OZ TO WHICH WE ADD .195 MILLION OZ OF EXCHANGE FOR RISK ISSUANCE/PRIOR
//NEW TOTAL STANDING FOR OCT AT 7.385 MILLION OZ
WE HAVE A HUMONGOUS GAIN OF 1581 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A FAIR SIZED 312 CONTRACTS ( WILL BE USED FOR WEDNESDAY’S TRADING),//ZERO FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION, AS OUR CROOKS ARE DESPERATE TO CONTAIN SILVER’S PRICE AS IT ROSE A BIT ON THURSDAY BUT DOWN ON FRIDAY AS WE ARE EXPERIENCING OUR USUAL AND CUSTOMARY RAID ON OPTIONS EXPIRY WEEK.
/ ZERO SHORT COVERING FROM OUR SPEC SHORTS WITH THE SLIGHT GAIN IN PRICE THURSDAY/ . ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.
THE NEW TAS ISSUANCE THURSDAY NIGHT (312) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND LATELY ON A DAILY BASIS INCLUDING TODAY.
WE HAD 2 NOTICE(S) FILED TODAY FOR 10,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 238 OI CONTRACTS TO 565,131 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 12,054 CONTRACTS//
WE HAD A SMALL SIZED DECREASE IN COMEX OI (238 CONTRACTS) OCCURRED DESPITE OUR GAIN OF $19.60 IN PRICE THURSDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 33.655 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 1700 OZ QUEUE JUMP
NEW STANDING ADVANCES TO 39.288 TONNES+ + 20.917 TONNES EXCHANGE FOR RISK/PRIOR// = 60.205 TONNES
/ ALL OF THIS HAPPENED WITH OUR $19.60 GAIN IN PRICE WITH RESPECT TO THURSDAY’S COMEX TRADING///. WE HAD A STRONG GAIN OF 12,411 OI CONTRACTS (38.603 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 AND THE STEEP RISE IN PRICE AFTER ONLY ONE DAY OF A RAID. THEY ARE TESTING EINSTEIN’S DEFINITION OF INSANITY AGAIN ON THIS FRIDAY MORNING.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 12,649 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 577,185
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 12,411 CONTRACTS WITH 238 CONTRACTS DECREASED AT THE COMEX// AND A HUGE SIZED 12,699 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 12,411 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A GOOD SIZED 2691 CONTRACTS, WE HAD ZERO LIQUIDATION OF T.A.S CONTRACTS WITH OUR GAIN IN PRICE THURSDAY AS WE ALSO HAD MONTH END SPREADER LIQUIDATION THURSDAY AND IT IS ALSO HAPPENING IN THIS MORNING’S TRADING.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (12,649 CONTRACTS) ACCOMPANYING THE SMALL SIZED DECREASE IN COMEX OI OF 238 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 12,411 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 1700 OZ QUEUE JUMP + 20.917 ISSUANCE OF EXCHANGE FOR RISK/PRIOR.
//NEW STANDING ADVANCES TO TO: /OCT 39.288 TONNES. + 20.917 EX, FOR RISK/PRIOR = 60.205 TONNES
/ 3) CONSIDERABLE T.A.S. LIQUIDATION AND SPREADER LIQUIDATION (TRYING TO CONTAIN GOLD’S PRICE RISE TO NO AVAIL THURSDAY BUT TRYING AGAIN ON FRIDAY, AND WITH ZERO NET LONG SPECS BEING CLIPPED. STICKY GOLD’S LONGS WERE NOT FOOLED AND THEY WERE REWARDED THURSDAY AS GOLD RESUMES ITS ATMOSPHERIC RISE. WITH OPTIONS EXPIRY WEEK IN FULL THROTTLE, THE CROOKS ARE AGAIN TRYING TO CONTAIN GOLD’S RISE.
4) SMALL SIZED COMEX OPEN INTEREST DECREASE 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///GOOD T.A.S. ISSUANCE: 2691 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: 73,649 CONTRACTS OF 7,364,900 OZ OR 229.08 TONNES IN 18 TRADING DAY(S) AND THUS AVERAGING: 4091 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 18 TRADING DAY(S) IN TONNES 229,08 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 209.08 DIVIDED BY 3550 x 100% TONNES = 5.88% 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. 209.08 TONNES (THIS WILL BE A WEAKER ISSUANCE THIS MONTH)
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPTEMBER. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A STRONG SIZED 644 CONTRACTS OI TO 155,545 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 2225 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 2225 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 2225 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 644 CONTRACTS AND ADD TO THE 2225 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1581 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 7.905 MILLION OZ OCCURRED DESPITE OUR TINY $0.01 GAIN IN PRICE
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
FRIDAY MORNING THURSDAY NIGHT
ASIA TRADING/FRIDAY MORNING/THURSDAY NIGHT
Nikkei CLOSED DOWN 229.37 PTS OR 0.60%//Australia’s all ordinaries CLOSED UP 0.16%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1247 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1327// Oil UP TO 71.45 dollars per barrel for WTI and BRENT UP AT 75.41 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALL SIZED 238 CONTRACTS TO 565,131 DESPITE OUR STRONG GAIN IN PRICE OF $19.60 WITH RESPECT TO THURSDAY’S TRADING. , WE LOST ZERO IN NUMBER LONGS WITH THE HIGHER PRICE FOR GOLD AS YOU WILL SEE BELOW. WE HAD A HUMONGOUS NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (12,649). 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 24 2024/(AS OUTLINED IN OUR GOLD PHYSICAL COMMENTARIES). 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 HUMONGOUS SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A HUGE SIZED 12,649 EFP CONTRACTS WERE ISSUED: : /DEC 12,649 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 12,649 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 STRONG TOTAL OF 12,411 CONTRACTS IN THAT 12,649 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A SMALL LOSS OF 238 COMEX CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR STRONG GAIN IN PRICE OF $19.60 THURSDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR THURSDAY NIGHT, A GOOD SIZED 2691 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 (60.205 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 39.288 TONNES + + 20.917 TONNES EXCHANGE FOR RISK PRIOR =60.205 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $19.60/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A STRONG SIZED GAIN IN OUR TWO EXCHANGES. WE DID HAVE CONSIDERABLE T.A.S. SPREADER LIQUIDATION THURSDAY COUPLED WITH MONTH END SPREADER LIQUIDATION BUT TO NO AVAIL IN STOPPING GOLD’S ADVANCE AS YOU WILL SEE GOLD’S ADVANCE IN THURSDAY PRICING. CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL MONDAY EVENING.
WE HAVE GAINED A TOTAL OF 38L603 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR OCT (33.651TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 1700 OZ QUEUE JUMP PLUS + 20.917 TONNES OF EXCHANGE FOR RISK//PRIOR
//NEW STANDING FOR OCT 39.288 TONNES.+ + 20.917 TONNES (EXCHANGE FOR RISK
NEW STANDING FOR OCT 39.288 TONNES + 20.917 TONNES EXCHANGE FOR RISK/PRIOR= 60.205 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR STRONG GAIN IN PRICE TO THE TUNE OF $19.60
WE HAD 12,054 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.
NET GAIN ON THE TWO EXCHANGES 12,411 CONTRACTS OR 1241,100 OZ (38.603 TONNES)
confirmed volume THURSDAY 198,223 contracts fair
//speculators have left the gold arena
END
OCT 25 OCT GOLD CONTRACT
/ /// THE OCT 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | NIL oz . |
| Deposit to the Dealer Inventory in oz | NIL |
| Deposits to the Customer Inventory, in oz | nil OZ |
| No of oz served (contracts) today | 16 notice(s) 1600 OZ 0.0497 TONNES |
| No of oz to be served (notices) | 35 contracts 3500 OZ 0.1088 TONNES |
| Total monthly oz gold served (contracts) so far this month | 12,596 notices 1,259,600oz 39.179 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: 1
Brinks: dealer to customer: 32,890.473 oz (1023 kilobars)..London gold moving out
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.
For the front month of OCT: we have an oi of 51 contracts having GAINED 3 contracts
We had 14 contracts filed on THURSDAY so we GAINED 17 contracts on our two exchanges or 17 CONTRACTS underwent a 1700 oz queue jump. This is central bank action grabbing all the physical they can.
NOVEMBER LOST 71 CONTRACTS TO STAND AT 1012
DECEMBER, THE BIGGEST DELIVERY MONTH LOST 2028 CONTRACTS TO 437,619
We had 16 contracts filed for today representing 1600 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 10 notices issued from their client or customer account. The total of all issuance by all participants equate to 16 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 (12,596 x 100 oz ) to which we add the difference between the open interest for the front month of OCT(51 CONTRACTS) minus the number of notices served upon today (16 x 100 oz per contract( equals 1,263,100 OZ OR 39.288 TONNES. TO WHICH WE ADD THAT STUPID 20.917 TONNES OF EXCHANGE FOR RISK PRIOR, NEW TOTAL = 60.205 TONNES
thus the INITIAL standings for gold for the OCTOBER contract month: No of notices filed so far (12,596 x 100 oz +we add the difference for front month of OCT (51 OI} minus the number of notices served upon today (16 x 100 oz which equals 1,263,100 oz (39.288 TONNES) + 20.917 EX. FOR RISK DELIVERY /PRIOR = 60.205 TONNES
TOTAL COMEX GOLD STANDING FOR OCT.: 60.205 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: 1,652,870.049 oz 51.41 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,043,006,171 OZ
TOTAL REGISTERED GOLD 7,713,802.360/// 239.93tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,329,219.811 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,060,932 oz (REG GOLD- PLEDGED GOLD)= 188.520 tonnes //
END
SILVER/COMEX
OCT 25\ 2024
INITIAL
//2024// THE OCT 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 984,688.698oz Brinks CNT ASAHI HSBC Loomis . |
| Deposits to the Dealer Inventory | nil oz |
| Deposits to the Customer Inventory | 600,342.640 oz CNT |
| No of oz served today (contracts) | 2 CONTRACT(S) (10,000 OZ) |
| No of oz to be served (notices) | 8 contracts (40,000oz) |
| Total monthly oz silver served (contracts) | 1430 Contracts (7.150 MILLION oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
i) 0 dealer deposit/
total dealer deposit : NIL oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 customer deposits
i) Into CNT: 600,342.640 oz
total customer deposits 600,342.640 oz
We had 5 withdrawals
i) out of CNT 209,149.988 oz
ii) out of Brinks 39,786.480 oz
iii0 out of Asahi 605,057.670 oz
iv) Out of HSBC 80,039.45 oz
v) Out of Loomis 05,605.110 oz
total withdrawal 984,688.598 oz
JPMorgan has a total silver weight: 134.401million oz/307.413million or 43.72%
adjustment 1
Manfra //dealer to customer account: 222,362.380 oz
TOTAL REGISTERED SILVER: 68.227MILLION OZ//.TOTAL REG + ELIGIBLE. 307.413million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR OCT
silver open interest data:
FRONT MONTH OF OCT /2024 OI: 10 OPEN INTEREST FOR A GAIN OF 6 CONTRACTS
WE HAD 2 CONTRACTS SERVED ON THURSDAY SO WE GAINED 8 CONTRACTS OR WE ENTERTAINED A 40,000 OZ QUEUE JUMP
NOVEMBER SAW A LOSS OF 8 CONTRACTS TO STAND AT 833
DECEMBER SAW A LOSS OF 1044 CONTRACTS DOWN TO 126,496 CONTRACTS
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for 10,000 oz
CONFIRMED volume; ON THURSDAY 85,506 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 1430x 5,000 oz = 7.150 MILLION oz
to which we add the difference between the open interest for the front month of OCT (10) and the number of notices served upon today (2)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: 1430 Notices served so far) x 5000 oz + OI for the front month of OCT(10) number of notices served upon today minus (2)x 5000 oz of silver standing for the OCT contract month + .195 million oz ex. for risk/PRIOR equates to 7.385 MILLION OZ.
New total standing: 7.385 million oz.
There are 68.277 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 25 WITH GOLD UP $6.40 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: // . // .///INVENTORY RESTS AT 893.80 TONNES
OCT 24 WITH GOLD UP $19.60 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.44 TONNES // // . // .///INVENTORY RESTS AT 893.80 TONNES
OCT 23 WITH GOLD DOWN $29.40 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.45 TONNES // // . // .///INVENTORY RESTS AT 895.24 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: 893.80 TONNES, TONIGHTS TOTAL
SILVER
OCT 25 WITH SILVER DOWN $0,02 : HUGE CHANGES IN SILVER INVENTORY AT THE SLV’ A DEPOSIT OF 3.06 MILLION OZ INTO THE SLV..//// //INVENTORY AT SLV RESTS AT 480.281 MILLION OZ
OCT 24 WITH SILVER UP $0,01 : SMALL CHANGES IN SILVER INVENTORY AT THE SLV’ A WITHDRAWAL OF 0.684 MILLION OZ OF SILVER OUT OF THE SLV..//// //INVENTORY AT SLV RESTS AT 477.177 MILLION OZ
OCT 23 WITH SILVER DOWN $1.15 : SMALL CHANGES IN SILVER INVENTORY AT THE SLV’ A WITHDRAWAL OF 0.228 MILLION OZ OF SILVER OUT OF THE SLV..//// //INVENTORY AT SLV RESTS AT 477,861 MILLION OZ
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 480.231 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
Russia proposes to put the Comex and LME out of the market-rigging business
Submitted by admin on Thu, 2024-10-24 14:56 Section: Daily Dispatches
Russia in Talks with BRICS Over Precious Metals Exchange
By Anastasia Lyrchikova, Darya Korsunskaya, and Gleb Bryanski
Reuters
Thursday, October 24, 2024
MOSCOW — Russia is in talks with other BRICS members about creating an international precious metals exchange to ensure fair pricing and trade growth, the country’s Finance Minister Anton Siluanov said in a statement today.
Leaders of BRICS countries, which account for 37% of the global economy, gathered in the Russian city of Kazan this week to discuss initiatives aimed at creating alternatives to the Western-dominated financial and trade infrastructure.
“The mechanism will include the creation of price indicators for metals, standards for the production and trade of bullion, and instruments for accrediting market participants, clearing, and auditing within BRICS,” Siluanov said.
The BRICS precious metals exchange would rival Western trading platforms, such as the London Metal Exchange, and would protect trade from sanctions imposed by the West on BRICS members Russia and Iran. …
… For the remainder of the report:
* END
HSBC Hong Kong joins China’s alternative to SWIFT payments system
Submitted by admin on Thu, 2024-10-24 10:46 Section: Daily Dispatches
By Kaye Wiggins
Financial Times, London
Thursday, October 24, 2024
HSBC Hong Kong has joined China’s international payments system as a direct participant, giving the world’s biggest player in trade finance a key role in Beijing’s push to expand use of the renminbi.
The bank’s Hong Kong unit is “formally joining” China’s Cross-Border Interbank Payment System, known as CIPS, David Liao, co-chief executive of the bank’s business in the Chinese territory, told a conference in Beijing, where he said the dominant role of the U.S. dollar was being “diluted.”
The move will make it easier for overseas companies to trade and invest using China’s currency by making those payments faster and cheaper.
It underscores how HSBC’s Hong Kong business is playing an important role in China’s policy goals, at a time when the UK-headquartered bank is planning a sweeping overhaul that will redraw its operations along East-West lines and set up its UK and Hong Kong units as separate divisions. …
… For the remainder of the report:
END
Russia pushes for BRICS clearing, depository system to sidestep the West
Submitted by admin on Thu, 2024-10-24 10:31 Section: Daily Dispatches
From Bloomberg News
Thursday, October 24, 2024
Russia has set out proposals for a unified depository and clearance system for BRICS countries, as it seeks to persuade member nations to deepen financial cooperation without the involvement of the West.
Russia argued for integrating the depositories of member states under a so-called BRICS Clear umbrella as part of its presentation for this week’s summit in Kazan, according to a person who saw the document, asking not to be identified because the matter isn’t public. The aim would be to ensure uninterrupted cross-border securities transactions as an alternative to the Euroclear and Clearstream systems, the person said.
President Vladimir Putin is hosting the first summit since BRICS expanded to nine members in January, with the United Arab Emirates, Iran, Egypt and Ethiopia joining Brazil, Russia, India, China, and South Africa in the organization. He said Wednesday that the group’s development showed that a “multipolar world” is emerging, in a challenge to the existing U.S.-dominated global order.
The Russian Finance Ministry didn’t immediately respond to a request to comment.
While it’s technically feasible, there’s little sign most BRICS members beyond sanctioned Russia and Iran are interested in joining a common depository, said Oleg Vyugin, a former top Bank of Russia official.
“Most BRICS countries have great economic ties with the Western world,” he said. They won’t want to separate from it.” …
… For the remainder of the report:
* END
Silver will reach $50 this year, Steer says, but what will governments do then?
Submitted by admin on Wed, 2024-10-23 20:13 Section: Daily Dispatches
8:14p ET Wednesday, October 23, 2024
Dear Friend of GATA and Gold:
Interviewed by Liberty and Finance’s Dunagun Kaiser, GATA board member Ed Steer, publisher of Ed Steer’s Gold and Silver Digest, explains why he thinks silver will reach $50 by the end of the year, breaking free of government price-suppression policy.
Steer adds that governments have been suppressing gold and silver prices for so long that no one really knows what free-market prices of the monetary metals are. What governments will do when the metals break free is anyone’s guess, he says.
The interview is 25 minutes long and can be heard at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
END
Dollar-dumping BRICs attendees must bring plenty of them to Kazan
Submitted by admin on Wed, 2024-10-23 10:42 Section: Daily Dispatches
By Huileng Tan
Business Insider, New York
Wednesday, October 23, 2024
Russian President Vladimir Putin is hosting a major summit with more than 20 world leaders whom he’s trying to convince to ditch the dollar.
De-dollarization is one of Putin’s priorities because trading in local currencies would mean that a heavily sanctioned Russia wouldn’t be beholden to the Western U.S.-dollar-dominated global financial order.
But it’s not easy to move away from the greenback. The organizers of the BRICS summit have advised foreign attendees to bring cash — specifically, U.S. dollars and euros — to the event in the Russian city of Kazan.
Most Russian banks will take only U.S. dollars or euros — which Moscow has deemed “toxic currencies” — to exchange for rubles, according to a guide on the summit’s website.
Going cashless isn’t an option since it’s not possible to use Mastercard or Visa cards issued outside Russia in the country. The two card issuers halted local operations days after Russia invaded Ukraine in 2022. …
… For the remainder of the report:
* * *
4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/no 196 ANDREW MAGUIRE WITH MICHAEL OLIVER//OTHER GOLD COMMENTARIES
Company NewsCryptocurrencyPrecious MetalsLive from the Vault
Looming Market Realignment! Feat Michael Oliver
Andrew Maguire welcomes back Michael Oliver to examine the instability…
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES: RARE EARTHS\
.
6 CRYPTOCURRENCY NEWS
END
ASIA TRADING FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 19.44 PTS OR 0.59%
//Hang Seng CLOSED UP 100.53 PTS OR 0.49%
// Nikkei CLOSED DOWN 229.37 PTS OR 0.60%//Australia’s all ordinaries CLOSED UP 0.16%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1247 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1327// Oil UP TO 71.45 dollars per barrel for WTI and BRENT UP AT 75.41 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.1247
OFFSHORE YUAN: DOWN TO 7.1327
SHANGHAI CLOSED CLOSED UP 19.44 PTS OR 0.59%
HANG SENG CLOSED CLOSED UP 100.53 PTS OR 0.49%
2. Nikkei closed DOWN 229.37 POINTS OR 0.59%
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX DOWN TO 103.92 EURO RISES TO 1.08.25 UP 14 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +0.945 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 DOWN /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 UP FOR UP this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.6905 Italian 10 Yr bond yield UP to 3.523 //SPAIN 10 YR BOND YIELD UP TO 2.982
3i Greek 10 year bond yield UP TO 3.133
3j Gold at $2729.10 /Silver at: 33.56 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 34/100 roubles/dollar; ROUBLE AT 96.59
3m oil into the 71 dollar handle for WTI and 75 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 151.97 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.945% 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 0.8668 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9383 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: 4.208 UP 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.475 UP 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.062 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 34.29…
10 YR UK BOND YIELD: 4.2775 DOWN 2 PTS
10 YR CANADA BOND YIELD: 3.270 UP 3 BASIS PTS
5 YR CANADA BOND YIELD: 3.038 UP 3 PTS.
2a New York OPENING REPORT
Futures Rise As Yields Fall Despite Growing Trumpflation Concerns
Friday, Oct 25, 2024 – 08:15 AM
US equity futures are higher for the second day in a row, trimming their weekly drop to less than 1.0%, and led by small caps as investors looked past a jump in borrowing costs that cooled market sentiment earlier in the week. As of 8:00am ET, S&P futures are up 0.3% with Nasdaq futures up 0.2%. Megacap tech are mostly mixed: META +1.0% and AMZN +0.7%, while TSLA -1.7% after its second biggest one day gain in history following blowout earnings, and AAPL is down 1% after China Q3 smartphone sales decline. Treasury yields drop for a second day, down 1-2bps, and leaving the rate on the 10-year note up about one tenth of a percentage point in the week at 4.18%; the USD is flat. Commodities are mixed with oil higher, base metals mixed, and precious metals lower. Today, the macro focus will be Durable/Cap Goods Orders, as well as the final revision to Mich. Sentiment.
In premarket trading, Capri crashed 46%, the most ever, after a federal judge blocked a planned takeover by Tapestry due to handbag-market competition concerns. New York Community Bancorp fell 6% after reporting a provision for credit losses for the 3Q that missed the average analyst estimate. Western Digital gains 11% after the computer hardware firm posted 1Q profit that beat, with some analysts noting that the NAND flash memory segment is holding up better than feared. Here are some other notable premarket movers:
- Boston Beer (SAM) falls 4% on light trading after the company cut its profit forecast for the full year.
- Centene (CNC) gains 11% after the health insurer boosted its revenue guidance for the full year.
- Coursera (COUR) plummets 20% after the online-education company cut its year revenue guidance. Management plans to cut about 10% of the company’s global workforce.
- Deckers Outdoor (DECK) jumps 14% after the maker of Hoka running shoes and UGG boots boosted its sales forecast for the full year.
- Denny’s (DENN) rises 5% as Citi turned bullish on the company, citing greater cost discipline and accelerated store closures.
- Newell Brands (NWL) climbs 11% after management increased its year forecast.
- Olin Corp. (OLN) slips 8% after the company posted a 3Q loss as Hurricane Beryl hurt results worse than the company initially anticipated.
- Skechers U.S.A. (SKX) climbs 7.5% after the footwear company reported third-quarter sales and profit that topped Wall Street expectations and boosted its projections for the full year.
Traders’ attention is turning to US economic data next week, including a monthly payrolls report, for fresh clues on the scope for Federal Reserve interest-rate cuts. With the Nov. 5 presidential vote approaching, some analysts are predicting a stock market boost should Donald Trump win, while others warn it may reignite inflation and slow the pace of Fed easing.
“The markets at least are sniffing out a Republican sweep, and perhaps an electoral/Senate landslide,” Stephen Auth, chief investment officer for equities at Federated Hermes, wrote in a note. “Should this occur, and we think it very well might, we’d expect the modest rally we’ve experienced since July to pick up steam. A Trump win would likely favor the old economy financial, industrial, energy and small cap stocks.”
BofA strategist Michael Hartnett highlighted other pre-election trades. Investors are continuing to load up on gold as a hedge against inflation and populism, while other popular themes — like selling bonds and buying artificial intelligence stocks, are holding up. More in a follow up article later. Gold hit a record high on Wednesday and gold funds recorded their biggest weekly inflow since July 2020, according to the BofA strategists. The yield on US 10-year government bonds briefly breached 4.2% this week, the highest level since July, while shares of US chip company Nvidia Corp. touched an all-time high.
Meanwhile, Europe’s Stoxx 600 index retreated on Friday after lackluster results from companies including French Cognac maker Remy Cointreau SA and Mercedes-Benz Group AG. Gains in banks and energy shares offset losses in travel and personal care. The regional stocks measure is headed for a more than 1% drop in the week. Here are the biggest European movers:
- Sanofi shares climb as much as 2.9%, best performer in the Stoxx 600 Health Care Index, after the drugmaker reported better-than-expected sales and earnings for the third quarter.
- NatWest shares rise as much as 4.7% on Friday, their biggest intraday gain in three months, after earnings beat estimates and the British lender raised its outlook for the year.
- Schibsted shares soar as much as 9.4% to the highest since May as the Norwegian classifieds company reported quarterly profits that blew past analyst estimates.
- Holcim shares rise as much as 2% as the Swiss cement giant posts another quarter of margin expansion while sales slightly missed in North America.
- Eni shares gain as much as 1.4% after the Italian oil company posts “decent” 3Q results, according to RBC, which adds that the share buyback is marginally ahead of market expectations.
- Yara shares jump as much as 7.6%, the most since February, after the Norwegian agricultural chemicals firm’s third-quarter results showed what analysts called a strong Ebitda beat.
- Remy Cointreau shares drop as much as 3.7% to a nine-year low after the French cognac maker cut its guidance amid weak demand in the US and China.
- Mercedes shares fall as much as 3.9%, the most in just more than a month, after the German carmaker reported what RBC called “severely depressed” third-quarter results due to China weakness.
- Electrolux shares slide as much as 15% after the Swedish home appliances firm reported a disappointing set of 3Q numbers, driven by underperformance in North America.
- Valeo shares drop as much as 13%, the most since Feb. 2022, after trimming its revenue forecast for 2024 to reflect challenges across the auto industry, and withdrawing guidance for 2025.
- Hexatronic shares fall as much as 17% after the Swedish fiber-optics firm missed expectations on most earnings metrics, including a 13% shortfall on net income.
- Better Collective shares slump as much as 37%, the most on record, after the digital sports media marketing company reported what Nordea says is its first ever profit warning.
“It’s been volatile,” said Vidya Anant, senior portfolio manager and head of sustainable equity funds Europe at DWS Asset Management. “We’re seeing a little bit of a risk-off behaviour, nobody’s willing to take the move into equities at this point especially just before the elections.”
Earlier in the session, a key gauge of Asian equities was little changed, set to cap a fourth-straight week of losses, as selling in Japan was countered by gains in China and Taiwan. The MSCI Asia Pacific Index swung in a narrow range, heading for a weekly loss of 2.4%. Japanese stocks were the biggest drags on the Asian gauge, slumping amid speculation the nation’s ruling coalition may lose its majority in the election this weekend. Stocks rose in mainland China and Hong Kong in early trading, as traders look for further stimulus to help restart a recently stalled market rally. Benchmarks also advanced in Taiwan and South Korea.A lack of details or a smaller-than-expected fiscal package could slow the positive momentum in Chinese stocks, May Yan, an analyst at UBS Global Asset Management, told Bloomberg Television. But “as we get more details on the policy side, the rally can continue into next year,” she said. Asian stocks more broadly have tailed off this month as well on concerns over Beijing’s measures will be enough to rescue the property sector and boost consumer spending. China’s central bank kept its one-year policy rate unchanged, after slashing funding costs by the most on record a month ago, suggesting authorities are cautiously pacing monetary stimulus to support the economy.
In FX, the Bloomberg Dollar Spot Index steadied, while Treasury yields ticked 1-2bp lower across the curve. The New Zealand dollar and Swedish krona led Group-of-10 losses against the greenback, while the Canadian dollar and British pound led gains. EUR/USD steadied at 1.0825, after data showed Germany’s business outlook improved in October. The yen was stuck in a range against the dollar, trading unchanged around 151.90 ahead of the weekend election that may see Japan’s ruling coalition lose its majority in the lower house of parliament for the first time since 2009. Such an outcome would weaken the yen and Japanese stocks, according to strategists.
Treasuries are marginally richer with gains led by the front-end, re-steepening curve spreads following Thursday’s sharp flattening move. US front-end yields are richer by 1bp-2bp with curve spreads slightly steeper. 10-year is 2bps lower on the day near 4.19% and 3bp richer vs bunds in the sector. German government bonds fall on a combination of better-than-expected data and slightly hawkish ECB speak. The expectations gauge of the German IFO survey rose to the highest since June while the business climate and current assessment readings topped even the highest estimates. Soon after, ECB’s Simkus said he couldn’t justify a 50-bp interest-rate cut at present. Shorter-dated bonds have bore the brunt of the selling with German two-year yields rising 3 bps to 2.10%.
In commodities, oil resumed its advance after a two-day drop, with traders keeping their focus on geopolitical developments in the Middle East and the supply outlook.WTI rose 0.5% to $70.50. Spot gold falls $17 to around $2,719/oz.
Today’s US economic data calendar includes September preliminary durable goods orders (8:30am), October final University of Michigan sentiment (10am) and October Kansas City Fed services activity (11am). Fed speaker slate includes Collins at 11am
Market Snapshot
- S&P 500 futures up 0.1% to 5,857.75
- STOXX Europe 600 down 0.1% to 518.26
- MXAP down 0.2% to 186.43
- MXAPJ little changed at 599.02
- Nikkei down 0.6% to 37,913.92
- Topix down 0.7% to 2,618.32
- Hang Seng Index up 0.5% to 20,590.15
- Shanghai Composite up 0.6% to 3,299.70
- Sensex down 1.0% to 79,240.57
- Australia S&P/ASX 200 little changed at 8,211.29
- Kospi little changed at 2,583.27
- German 10Y yield up 1 bp at 2.28%
- Euro little changed at $1.0829
- Brent Futures little changed at $74.36/bbl
- Gold spot down 0.5% to $2,721.23
- US Dollar Index little changed at 104.04
Top Overnight News
- Japan’s Tokyo CPI for Oct came in at +1.8% headline (inline w/the Street and down from +2.1%, sliding below the 2% BOJ target for the first time in 5 months) but core ran a bit hot at +1.8% (up from +1.6% in Sept and ahead of the Street’s +1.6% forecast). RTRS
- Apple’s iPhone sales in China slipped 0.3% while rival Huawei (HWT.UL) posted a 42% surge in the third quarter of 2024, as competition intensifies in the world’s largest smartphone market. RTRS
- China’s top legislature will meet Nov 4-8 and investors expect additional fiscal stimulus developments at this event. SCMP
- Eurozone inflation expectations tumble to +2.4% over 12 months (down from +2.7%) and +2.1% over 36 months (down from +2.3%). Eurozone M3 money supply for Sept came in at +3.2% Y/Y (vs. the Street +2.9% and up from +2.9% in Aug). BBG
- Mercedes shares slide in European trading after the company reported weak Q3 results (sales -7% and adjusted EBIT -48%) w/mgmt. calling out challenging market conditions and “fierce competition” (especially in China). RTRS
- Elon Musk, the world’s richest man and a linchpin of U.S. space efforts, has been in regular contact with Russian President Vladimir Putin since late 2022. The discussions, confirmed by several current and former U.S., European and Russian officials, touch on personal topics, business and geopolitical tensions. WSJ
- The U.S. Justice Department’s Antitrust Division and the Transportation Department said on Thursday they are launching a broad public inquiry into the state of competition in air travel. RTRS
- Kamala Harris and Donald J. Trump are locked in a dead heat for the popular vote, 48 percent to 48 percent, the final national poll by The New York Times and Siena College has found, as Ms. Harris struggles for an edge over Mr. Trump with an electorate that seems impossibly and immovably divided. NYT
- The White House said it was encouraging Boeing and the union representing about 33,000 striking machinists to continue working to reach a deal, a day after workers rejected the planemaker’s latest contract offer. President Biden “directed his team … to encourage parties to continue working to achieve an agreement that works, certainly for all parties,” White House press secretary Karine Jean-Pierre told reporters. “We’re going to continue to monitor those negotiations and continue to make sure that we encourage that.” RTRS
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly higher following a similar handover from Wall St albeit with upside capped in a somewhat cautious session amid ongoing geopolitical concerns and heading into next month’s key events. ASX 200 marginally gained and was led by notable strength in tech after WiseTech’s CEO and founder stepped down due to a secret affairs and payments scandal, although the upside in the index was limited by weakness in consumer stocks. Nikkei 225 underperformed following recent yen strength and amid uncertainty ahead of Sunday’s election. Hang Seng and Shanghai Comp rebounded from yesterday’s selling with the help of strength in tech and automakers, while the PBoC conducted an MLF operation and kept the 1-year MLF rate unchanged at 2.00%, as expected.
Top Asian News
- China’s NPC standing committee meeting to start from Nov 4th running until Nov 8th
- PBoC conducted a CNY 700bln (CNY 789bln maturing) 1-year MLF operation with the rate kept at 2.00%.
European bourses, Stoxx 600 (-0.2%) began the session very modestly in negative territory, but have clambered off worst levels in recent trade and now generally reside near session highs. European sectors hold a strong negative bias, with only a handful of sectors managing to hold afloat; Banks is lifted by post-earning strength in NatWest (+4.7%). Travel & Leisure is at the foot of the pile, hampered by losses in Accor. Autos are not quiet underperforming, but remain subdued after Mercedes-Benz (-2.6%) cut guidance. US Equity Futures (ES +0.2%, NQ +0.3%, RTY +0.5%) are entirely, albeit modestly so, in the green; continuing the upside seen in the prior session.
Top European News
- UK PM Starmer said Britons who receive additional income from stock holdings don’t count as ‘working people,’ which suggests he is willing to raise taxes on investors, according to Bloomberg.
- The EU Commission says the EU and China have agreed to further technical negotiations on EVs
- ECB’s Kazaks says “I don’t see case for rates to fall below neutral: it would require a weaker baseline substantial undershooting of target”.
- ECB’s Simkus doesn’t see case for 50bps cut, says “the destination for rates is more important”. “We are on a disinflationary path”. “Need to reduce still-restrictive rates”. “Economy quite sluggish but not doing that badly”.
- ECB’s Vujcic says he is open on the December rate decision, via Bloomberg.
FX
- USD is net flat vs. peers. Fresh macro drivers for the US have been on the lighter side this week with yesterday’s PMI and IJC metrics doing little to sway Fed pricing. Attention going forward is on next week’s NFP and upcoming US Presidential election.
- EUR is steady vs. the USD and relatively resilient given soft PMI data yesterday, ECB speak which has increased the odds of a 50bps December rate and looming US election risk in the event of a Trump victory. EUR/USD currently sitting around 1.0825.
- GBP is flat vs. the USD at the end of what was a week that was expected to see BoE speak help guide expectations over future easing. However, interjections by MPC officials have proved relatively non-incremental. Cable is currently trading towards the top end of last Friday’s 1.2908-87.
- JPY is steady vs. the USD in the run-up to two crucial Japanese risk events; Japan’s general election on Sunday and then the BoJ. USD/JPY is currently holding below the 152 mark but above its 200DMA at 151.41.
- Antipodeans are both softer vs. the USD as attempted recoveries vs. the USD continue to falter amid looming US election risk. AUD/USD is currently lingering around its 200DMA at 0.6628. NZD/USD has continued its drift lower and slipped onto a 0.59 handle.
- Barclays month-end rebalancing model: weak USD buying against most majors, neutral against EUR and weak USD selling against JPY.
Fixed Income
- USTs are flat with specifics light so far and while USTs have been dragged to a 111-06 low by EGBs they are yet to convincingly slip into the red. Docket ahead has durables in addition to potential remarks from Fed’s Collins.
- Bunds are in the red, initial action was somewhat contained with a slight positive bias following JGBs after Tokyo CPI. However, another set of relatively strong German metrics placed pressure on EGBs, sending Bunds to a 133.14 trough in the 20-minutes after the data, where they currently reside.
- Gilts opened lower by just two ticks, specifics have been light since yesterday’s Reeves-induced downside. Gilts have followed EGBs lower though only by a few ticks. To a 96.18 base which remains some way clear of Thursday’s 95.68 trough.
- Italy sells EUR 2.5bln vs exp. EUR 2-2.5bln 2026 BTP Short term and EUR 2.5bln vs. exp. EUR 2-2.5bln 1.80% 2036 and 0.40% 2030 I/L BTP
Commodities
- WTI and Brent are contained, having attempted to recoup some of the prior day’s losses but ultimately failing to materially break out of overnight ranges. Brent’Dec currently sits at around USD 74.70/bbl.
- Precious metals are under modest pressure, though XAU remains comfortably above the USD 2700/oz mark.
- Base metals are pressured, in-fitting with the European risk tone this morning and soft performance in auto names which is weighing on the demand-side for the complex.
Geopolitics: Middle East
- Iran’s Supreme Leader Khamenei ordered plans to respond to a possible Israeli attack but stressed that Iran will not act if the Israeli attack is limited, according to The New York Times. Iranian officials said Khamenei ordered the military to devise multiple military plans for responding to an Israeli attack in which the scope of any Iranian retaliation will largely depend on the severity of Israel’s attacks with Iran to retaliate if Israeli strikes inflict widespread damage and high casualties, but if Israel limits its attack to a few military bases and warehouses storing missiles and drones, Iran may do nothing. Furthermore, Khamenei directed that a response would be certain if Israel strikes oil and energy infrastructure or nuclear facilities, or if it assassinates senior officials.. “The officials, including two members of the Islamic Revolutionary Guard Corps, said that if Israel inflicted major harm, the responses under consideration included a barrage of up to 1,000 ballistic missiles; escalated attacks by Iranian proxy militant groups in the region; and disrupting the flow of global energy supplies and shipping moving through the Persian Gulf and the Strait of Hormuz.”
- Israel conducted raids on the area of Choueifat Amrousiya, Haret Hreik and the Hadath area in the southern suburbs of Beirut, according to Sky News Arabia. Israel also conducted a raid on the Masnaa border crossing between Lebanon and Syria, as well as on the residence of press teams in the southern town of Hasbaya, Lebanon.
- Israel said its spy chief will attend Gaza ceasefire talks, while Hamas vows to stop fighting if a truce is reached, as long-stalled efforts to end the war appeared to gain momentum, according to Arab News via X.
- Egyptian media reported that an Egyptian security and military delegation met with the head of the Mossad and a delegation from the Shin Bet. It was separately reported that a Hamas delegation went to Cairo to listen to proposed ceasefire deal ideas but there is no change in the group’s position, according to a Hamas senior official.
- Secretary General of the Gulf Cooperation Council said their recent meetings with Iran focused on the future of relations and ensuring calm, while their main goal is to end military operations in the Gaza Strip and Lebanon.
Geopolitics: Other
- Russian President Putin said the cross-border payments issue is important and will develop cooperation within BRICS, while he added that BRICS does not pursue a separate common payment system and if the US is open to normal relations with Russia, they will do the same. Putin earlier said they will discuss peaceful settlements of conflict in the Middle East and that Ukraine is being used to create strategic threats to Russia.
- Elon Musk has reportedly been in regular contact with Russian President Putin since late 2022 and at one point, Putin asked him to avoid activating his Starlink internet service over Taiwan as a favour to Chinese President Xi, according to WSJ.
US Event Calendar
- 08:30: Sept. Durable Goods Orders, est. -1.0%, prior 0%
- Sept. -Less Transportation, est. -0.1%, prior 0.5%
- Sept. Cap Goods Ship Nondef Ex Air, est. 0%, prior -0.1%
- Sept. Cap Goods Orders Nondef Ex Air, est. 0.1%, prior 0.3%
- 10:00: Oct. U. of Mich. Sentiment, est. 69.1, prior 68.9
- U. of Mich. Current Conditions, prior 62.7
- U. of Mich. Expectations, prior 72.9
- U. of Mich. 1 Yr Inflation, est. 2.9%, prior 2.9%
- Oct. U. of Mich. 5-10 Yr Inflation, est. 3.0%, prior 3.0%
- 11:00: Oct. Kansas City Fed Services Activ, prior -2
DB’s Jim Reid concludes the overnight wrap
Risk assets began to stabilise over the last 24 hours, with the S&P 500 up +0.21% after 3 consecutive declines. Multiple factors helped to lift sentiment, including some decent earnings reports, upside US data surprises, as well as mounting speculation about faster rate cuts. But even with the modest gain, investors are still very cautious as we approach a pivotal couple of weeks, which will include a raft of earnings reports, the US jobs report next Friday, and then the US election in just 11 days’ time. So there’s been a reluctance to push the rally much further before we get some clarity on those, all of which will play a crucial role in shaping the outlook as we move into next year.
Several stories were driving markets yesterday, but one of the biggest moves was a significant bond rally across the Euro Area. That followed some weak data in the latest flash PMIs for October, which showed that business activity was still subdued at the start of Q4. The Euro Area composite PMI was little changed at 49.7 (vs. 49.6 previous), so still beneath the 50 mark that separates expansion from contraction. And the details leant on the dovish side with Euro Area composite output prices down to their lowest since early 2021, while Germany’s composite employment PMI fell further into contractionary territory at 45.8 (vs 46.3 prev.).
All that meant investors continued to speculate that the ECB might speed up their rate cuts, not least as both the Fed and the Bank of Canada have now done so. Indeed, a larger 50bp cut at the ECB’s next meeting in December was priced in as a 42% probability by last night’s close. Moreover, comments from several officials seemed to leave that open as an option, with Latvia’s Kazaks saying that “everything should be on the table”. From the dovish side of the Governing Council, Portugal’s Centeno said that “we need to consider the possibility of moving in bigger steps”, while from the hawkish side the Austria’s Holzmann said that a 50bp cut is “unlikely though not impossible”. In turn, that led yields to fall across all maturities, including those on 10yr bunds (-3.8bps), OATs (-4.3bps) and BTPs (-4.7bps).
In the meantime, investors have remained closely focused on the US election, which is continuing to influence markets. There weren’t a great deal of new political headlines over the last 24 hours, but the polls in the battleground states have remained very tight and within the margin of error. For instance, an Emerson poll of several swing states yesterday had Trump very marginally ahead, including a 1pt lead in Pennsylvania and Wisconsin, and a 2pt lead in North Carolina. But given the margin of error is just over three points for those polls, this remains a very tight race, as reflected in various prediction markets and forecast models. For instance, the RealClearPolitics average of betting markets gives Trump a 59.5% chance of victory this morning, whilst FiveThirtyEight’s model sees Trump as a 51% chance to win.
Ahead of that, US Treasuries rallied yesterday alongside their European counterparts, which unwound a notable move higher for yields over recent sessions. In fact by the close, the 10yr yield was down -3.4bps on the day to 4.21%, and overnight they’ve seen a further -2.4bps decline to 4.19%. Lower yields also received support from the latest decline in oil prices, with Brent crude down –0.59% on the day to $74.52/bbl.
Here in the UK however, gilts underperformed yesterday, with the 10yr yield up +3.6bps on the day to 4.24%. It also meant that the UK-German 10yr yield spread widened to 197bps, which is the widest it’s been since August 2023. The moves come ahead of the new government’s first Budget next week, with Chancellor Rachel Reeves confirming yesterday that the government would change the way it measures debt, in order to fund extra investment.
For equities, it was a fairly subdued day on both sides of the Atlantic, but the major indices did manage to post modest gains for the most part. That included the S&P 500 (+0.21%), which came back from a run of three consecutive declines, with Tesla (+21.92%) seeing the biggest gain in the entire index following its earnings results after the previous day’s close. This marked Tesla’s largest daily rise since 2013, back when the company was worth only around 2% of its current $836bn market cap. So the move left the Magnificent 7 group up +3.26%, closing at its highest level since mid-July, and less than -4% beneath its all-time closing high. Nevertheless, some areas posted a weaker performance, with around half of the S&P 500’s constituents lower on the day as materials (-1.42%) and industrials (-0.71%) sectors led on the downside. Meanwhile in Europe, the main indices only just managed to eke out some gains, with the STOXX 600 up +0.03%.
One factor supporting US equities was upbeat economic data, which continued a run of positive data surprises out of the US. For instance, the weekly initial jobless claims fell back to 227k (vs. 242k expected) over the week ending October 19, moving back down to their levels before the recent hurricanes impacted the figures. In addition, the flash PMIs from the US were also decent, with the services PMI at 55.3 (vs. 55.0 expected), while the manufacturing PMI was also on the upside of expectations at 47.8 (vs. 47.5 expected). Also supporting a soft landing narrative, the composite PMI output price series fell to its lowest since 2020. Finally, the new home sales data for September came in at an annualised rate of 738k (vs. 720k expected), the highest in over a year.
Overnight in Asia, there’s been a divergent performance across the region this morning. In Japan, the Nikkei is down -0.98%, which comes ahead of the country’s general election on Sunday. Moreover, the Tokyo CPI data for October overnight was marginally stronger than expected, with core-core CPI picking up to +1.8% (vs. +1.6% expected). But elsewhere there’ve been stronger gains, and the Hang Seng (+1.13%), CSI 300 (+1.06%), Shanghai Comp (+0.82%) and the KOSPI (+0.33%) have all risen this morning. Otherwise, US equity futures are struggling to gain traction, with those on the S&P 500 (-0.04%) and the NASDAQ 100 (-0.03%) both pointing very slightly lower.
To the day ahead now, and data releases from the US include preliminary durable goods orders for September, along with the University of Michigan’s final consumer sentiment index for October. Elsewhere, we’ll get the ECB’s Consumer Expectations Survey for September, and in Germany there’s also the Ifo’s business climate indicator for October. Central bank speakers include the Fed’s Collins and the ECB’s Villeroy.
2B) European report.
US futures are bid & DXY is flat ahead of US data & Fed speak – Newsquawk US Market Open
Friday, Oct 25, 2024 – 06:03 AM
- European bourses hold a slight positive tilt after initially opening on a modestly weaker footing; US futures are entirely in the green.
- Dollar is flat ahead of Durable Goods, JPY was fairly unreactive to mixed Tokyo CPI.
- USTs are flat but directionally in-fitting with the pressure seen in Bunds, sparked by strong German Ifo metrics.
- Crude is very modestly firmer but ultimately within a contained range, XAU/base metals are pressured.
- Looking ahead, US Durable Goods, UoM (Final), Moody’s on France, Comments from Fed’s Collins, Earnings from Colgate-Palmolive.
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EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx 600 (-0.2%) began the session very modestly in negative territory, but have clambered off worst levels in recent trade and now generally reside near session highs.
- European sectors hold a strong negative bias, with only a handful of sectors managing to hold afloat; Banks is lifted by post-earning strength in NatWest (+4.7%). Travel & Leisure is at the foot of the pile, hampered by losses in Accor. Autos are not quiet underperforming, but remain subdued after Mercedes-Benz (-2.6%) cut guidance.
- US Equity Futures (ES +0.2%, NQ +0.3%, RTY +0.5%) are entirely, albeit modestly so, in the green; continuing the upside seen in the prior session.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
- Click for a detailed summary
FX
- USD is net flat vs. peers. Fresh macro drivers for the US have been on the lighter side this week with yesterday’s PMI and IJC metrics doing little to sway Fed pricing. Attention going forward is on next week’s NFP and upcoming US Presidential election.
- EUR is steady vs. the USD and relatively resilient given soft PMI data yesterday, ECB speak which has increased the odds of a 50bps December rate and looming US election risk in the event of a Trump victory. EUR/USD currently sitting around 1.0825.
- GBP is flat vs. the USD at the end of what was a week that was expected to see BoE speak help guide expectations over future easing. However, interjections by MPC officials have proved relatively non-incremental. Cable is currently trading towards the top end of last Friday’s 1.2908-87.
- JPY is steady vs. the USD in the run-up to two crucial Japanese risk events; Japan’s general election on Sunday and then the BoJ. USD/JPY is currently holding below the 152 mark but above its 200DMA at 151.41.
- Antipodeans are both softer vs. the USD as attempted recoveries vs. the USD continue to falter amid looming US election risk. AUD/USD is currently lingering around its 200DMA at 0.6628. NZD/USD has continued its drift lower and slipped onto a 0.59 handle.
- Barclays month-end rebalancing model: weak USD buying against most majors, neutral against EUR and weak USD selling against JPY.
- Click for a detailed summary
- Click for NY OpEx Details
FIXED INCOME
- USTs are flat with specifics light so far and while USTs have been dragged to a 111-06 low by EGBs they are yet to convincingly slip into the red. Docket ahead has durables in addition to potential remarks from Fed’s Collins.
- Bunds are in the red, initial action was somewhat contained with a slight positive bias following JGBs after Tokyo CPI. However, another set of relatively strong German metrics placed pressure on EGBs, sending Bunds to a 133.14 trough in the 20-minutes after the data, where they currently reside.
- Gilts opened lower by just two ticks, specifics have been light since yesterday’s Reeves-induced downside. Gilts have followed EGBs lower though only by a few ticks. To a 96.18 base which remains some way clear of Thursday’s 95.68 trough.
- Italy sells EUR 2.5bln vs exp. EUR 2-2.5bln 2026 BTP Short term and EUR 2.5bln vs. exp. EUR 2-2.5bln 1.80% 2036 and 0.40% 2030 I/L BTP
- Click for a detailed summary
COMMODITIES
- WTI and Brent are contained, having attempted to recoup some of the prior day’s losses but ultimately failing to materially break out of overnight ranges. Brent’Dec currently sits at around USD 74.70/bbl.
- Precious metals are under modest pressure, though XAU remains comfortably above the USD 2700/oz mark.
- Base metals are pressured, in-fitting with the European risk tone this morning and soft performance in auto names which is weighing on the demand-side for the complex.
- Click for a detailed summary
NOTABLE DATA RECAP
- German Ifo Current Conditions New (Oct) 85.7 vs. Exp. 84.4 (Prev. 84.4); Ifo Business Climate New (Oct) 86.5 vs. Exp. 85.6 (Prev. 85.4); Ifo Expectations New (Oct) 87.3 vs. Exp. 86.8 (Prev. 86.3)
- UK GfK Consumer Confidence (Oct) -21.0 vs. Exp. -21.0 (Prev. -20.0)
- French Consumer Confidence (Oct) 94.0 vs. Exp. 94.0 (Prev. 95.0)
- Italian Consumer Confidence (Oct) 97.4 vs. Exp. 98.5 (Prev. 98.3); Mfg Business Confidence (Oct) 85.8 vs. Exp. 87.0 (Prev. 86.7, Rev. 86.6)
- EU Money-M3 Annual Growth (Sep) 3.2% vs. Exp. 3.0% (Prev. 2.9%); Loans to Non-Fin (Sep) 1.1% (Prev. 0.8%); Loans to Households (Sep) 0.7% (Prev. 0.6%)
NOTABLE EUROPEAN HEADLINES
- UK PM Starmer said Britons who receive additional income from stock holdings don’t count as ‘working people,’ which suggests he is willing to raise taxes on investors, according to Bloomberg.
- The EU Commission says the EU and China have agreed to further technical negotiations on EVs
- ECB’s Kazaks says “I don’t see case for rates to fall below neutral: it would require a weaker baseline substantial undershooting of target”.
- ECB’s Simkus doesn’t see case for 50bps cut, says “the destination for rates is more important”. “We are on a disinflationary path”. “Need to reduce still-restrictive rates”. “Economy quite sluggish but not doing that badly”.
- ECB’s Vujcic says he is open on the December rate decision, via Bloomberg.
NOTABLE US HEADLINES
- Big Village public opinion poll showed Harris at 52% vs Trump at 45% which was conducted on October 23rd and involved around 1,600 respondents.
- US Presidential Candidates Harris & Trump are tied for the popular vote, both on 48%, according to the final NYT/Siena poll
GEOPOLITICS
- MIDDLE EAST
- Iran’s Supreme Leader Khamenei ordered plans to respond to a possible Israeli attack but stressed that Iran will not act if the Israeli attack is limited, according to The New York Times. Iranian officials said Khamenei ordered the military to devise multiple military plans for responding to an Israeli attack in which the scope of any Iranian retaliation will largely depend on the severity of Israel’s attacks with Iran to retaliate if Israeli strikes inflict widespread damage and high casualties, but if Israel limits its attack to a few military bases and warehouses storing missiles and drones, Iran may do nothing. Furthermore, Khamenei directed that a response would be certain if Israel strikes oil and energy infrastructure or nuclear facilities, or if it assassinates senior officials.. “The officials, including two members of the Islamic Revolutionary Guard Corps, said that if Israel inflicted major harm, the responses under consideration included a barrage of up to 1,000 ballistic missiles; escalated attacks by Iranian proxy militant groups in the region; and disrupting the flow of global energy supplies and shipping moving through the Persian Gulf and the Strait of Hormuz.“
- Israel conducted raids on the area of Choueifat Amrousiya, Haret Hreik and the Hadath area in the southern suburbs of Beirut, according to Sky News Arabia. Israel also conducted a raid on the Masnaa border crossing between Lebanon and Syria, as well as on the residence of press teams in the southern town of Hasbaya, Lebanon.
- Israel said its spy chief will attend Gaza ceasefire talks, while Hamas vows to stop fighting if a truce is reached, as long-stalled efforts to end the war appeared to gain momentum, according to Arab News via X.
- Egyptian media reported that an Egyptian security and military delegation met with the head of the Mossad and a delegation from the Shin Bet. It was separately reported that a Hamas delegation went to Cairo to listen to proposed ceasefire deal ideas but there is no change in the group’s position, according to a Hamas senior official.
- Secretary General of the Gulf Cooperation Council said their recent meetings with Iran focused on the future of relations and ensuring calm, while their main goal is to end military operations in the Gaza Strip and Lebanon.
OTHER
- Russian President Putin said the cross-border payments issue is important and will develop cooperation within BRICS, while he added that BRICS does not pursue a separate common payment system and if the US is open to normal relations with Russia, they will do the same. Putin earlier said they will discuss peaceful settlements of conflict in the Middle East and that Ukraine is being used to create strategic threats to Russia.
- Elon Musk has reportedly been in regular contact with Russian President Putin since late 2022 and at one point, Putin asked him to avoid activating his Starlink internet service over Taiwan as a favour to Chinese President Xi, according to WSJ.
CRYPTO
- Bitcoin is slightly lower and sits beneath USD 68k.
APAC TRADE
- APAC stocks were mostly higher following a similar handover from Wall St albeit with upside capped in a somewhat cautious session amid ongoing geopolitical concerns and heading into next month’s key events.
- ASX 200 marginally gained and was led by notable strength in tech after WiseTech’s CEO and founder stepped down due to a secret affairs and payments scandal, although the upside in the index was limited by weakness in consumer stocks.
- Nikkei 225 underperformed following recent yen strength and amid uncertainty ahead of Sunday’s election.
- Hang Seng and Shanghai Comp rebounded from yesterday’s selling with the help of strength in tech and automakers, while the PBoC conducted an MLF operation and kept the 1-year MLF rate unchanged at 2.00%, as expected.
NOTABLE ASIA-PAC HEADLINES
- China’s NPC standing committee meeting to start from Nov 4th running until Nov 8th
- PBoC conducted a CNY 700bln (CNY 789bln maturing) 1-year MLF operation with the rate kept at 2.00%.
DATA RECAP
- Tokyo CPI YY (Oct) 1.8% vs. Exp. 1.9% (Prev. 2.2%)
- Tokyo CPI Ex. Fresh Food YY (Oct) 1.8% vs. Exp. 1.7% (Prev. 2.0%)
- Tokyo CPI Ex. Fresh Food & Energy YY (Oct) 1.8% vs. Exp. 1.6% (Prev. 1.6%)
- Japanese Services PPI (Sep) 2.60% (Prev. 2.70%)
- Chinese FDI (YTD) (Sep) -30.4% (Prev. -31.5%)
2C ASIAN REPORT
APAC stocks bolstered by the Wall St. handover, earnings ahead – Newsquawk Europe Market Open
Friday, Oct 25, 2024 – 01:27 AM
- APAC stocks bolstered by the the Wall St. handover though with upside capped given ongoing geopolitical uncertainty
- FX relatively contained with specifics light in overnight trade
- Fixed benchmarks remained afloat, JGBs edged mild gains after mixed Tokyo CPI
- Crude benchmarks attempted to nurse Thursday’s losses, metals rangebound echoing FX
- Looking ahead, highlights include EZ M3, German Ifo, US Durable Goods, UoM (Final), Moody’s on France, Comments from Fed’s Collins, Earnings from NatWest, Porsche, Mercedes-Benz & Colgate-Palmolive
- Click for the Newsquawk Week Ahead.
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US TRADE
EQUITIES
- US stocks were predominantly higher after the recent selling pressure this week and with participants digesting earnings and several better-than-expected data releases. The advances in most major indices were led by outperformance in the Nasdaq as Tesla shares surged by around 22% post-earnings, while the Dow was the laggard which closed in the red after disappointing earnings results from IBM and Honeywell. Furthermore, the dollar pared its recent gains and T-notes were choppy with initial pressure seen in the aftermath of the fall in jobless claims and PMI beats, although the move in treasuries was ultimately reversed.
- SPX +0.21% at 5,910, NDX +0.83% at 20,233, DJIA -0.33% at 42,374, RUT +0.23% at 2,219.
- Click here for a detailed summary.
NOTABLE HEADLINES
- Big Village public opinion poll showed Harris at 52% vs Trump at 45% which was conducted on October 23rd and involved around 1,600 respondents.
APAC TRADE
EQUITIES
- APAC stocks were mostly higher following a similar handover from Wall St albeit with upside capped in a somewhat cautious session amid ongoing geopolitical concerns and heading into next month’s key events.
- ASX 200 marginally gained and was led by notable strength in tech after WiseTech’s CEO and founder stepped down due to a secret affairs and payments scandal, although the upside in the index was limited by weakness in consumer stocks.
- Nikkei 225 underperformed following recent yen strength and amid uncertainty ahead of Sunday’s election.
- Hang Seng and Shanghai Comp rebounded from yesterday’s selling with the help of strength in tech and automakers, while the PBoC conducted an MLF operation and kept the 1-year MLF rate unchanged at 2.00%, as expected.
- US equity futures traded sideways amid light catalysts and a lack of blockbuster after-market earnings.
- European equity futures are indicative of a lacklustre cash open with the Euro Stoxx 50 future -0.2% after the cash market closed higher by 0.3% on Thursday.
FX
- DXY traded little changed after paring some of the recent notable strength in a week devoid of tier-1 releases ahead of the major risk events in early November, while the latest data releases were encouraging including better-than-expected PMIs, New Home Sales and Initial Jobless Claims they failed to boost the dollar.
- EUR/USD held on to most of the prior day’s spoils and sat above the 1.0800 level after benefitting from the softening of the dollar, while there was another deluge of ECB rhetoric including some pushback against larger rate cuts.
- GBP/USD traded sideways after mildly strengthening on the Reeves-induced jump in UK yields albeit with the upside capped as a return to the 1.3000 level remained elusive.
- USD/JPY attempted to recoup losses but was thwarted by resistance at the 152.00 level and following mixed Tokyo inflation.
- Antipodeans lacked demand alongside a quiet calendar and with headwinds from a slightly weaker yuan.
FIXED INCOME
- 10yr UST futures remained afloat in rangebound trade after yesterday’s choppy performance and eventual bull flattening, despite the stronger-than-expected US data releases and a weaker 5yr TIPS auction.
- Bund futures took a breather following the recent resurgence to back above the 133.00 level.
- 10yr JGB futures edged mild gains after mixed Tokyo CPI data which printed below the central bank’s 2% price target and is seen as a leading indicator for nationwide trends.
COMMODITIES
- Crude futures attempted to nurse some of the prior day’s losses which were initially triggered by a report of Israel delaying the response to Iran following the US intelligence leak, although this was later denied by an Israeli security official, while the rebound was facilitated by support in Brent and WTI futures around the USD 74.00/bbl and USD 70.00/bbl levels, respectively.
- Spot gold trickled lower although remained above the USD 2,700/oz level amid an uneventful dollar.
- Copper futures were rangebound following recent whipsawing and amid a somewhat cautious risk tone.
CRYPTO
- Bitcoin lacked firm direction with price action choppy on both sides of the USD 68,000 level.
NOTABLE ASIA-PAC HEADLINES
- PBoC conducted a CNY 700bln (CNY 789bln maturing) 1-year MLF operation with the rate kept at 2.00%.
- BoJ Governor Ueda said optimism over the US economic outlook seems to be broadening somewhat and need to scrutinise further whether optimism over the US outlook is sustained. Ueda said the BoJ still can afford to spend time scrutinising risks and recent yen falls are driven partly by optimism over the US economic outlook.
- Japanese Finance Minister Kato told the G20 that FX market volatility remains high, as well as noted they must be vigilant to spillovers from each member’s macro-economic policy and excess volatility from speculative trading.
- It remains unclear whether Japan’s ruling coalition can retain its majority in the lower house just days before the Sunday election with Nikkei polling showing a close race in nearly half of single-seat electoral districts.
DATA RECAP
- Tokyo CPI YY (Oct) 1.8% vs. Exp. 1.9% (Prev. 2.2%)
- Tokyo CPI Ex. Fresh Food YY (Oct) 1.8% vs. Exp. 1.7% (Prev. 2.0%)
- Tokyo CPI Ex. Fresh Food & Energy YY (Oct) 1.8% vs. Exp. 1.6% (Prev. 1.6%)
- Japanese Services PPI (Sep) 2.60% (Prev. 2.70%)
GEOPOLITICS
MIDDLE EAST
- Israeli senior security official quoted by army radio denied the report that Israel was forced to delay a potential retaliatory attack on Iran after details of the planning were leaked from the Pentagon, according to Times of Israel.
- Israeli military plans for an attack on Iran have passed the approval of the Chief of Staff and the Minister of Defence and are waiting for a “green light” from the political level, according to Kann News citing a security source. Israel’s Channel 12 also reported that Israel seems to have reached its peak in preparing for the attack on Iran.
- Iran’s Supreme Leader Khamenei ordered plans to respond to a possible Israeli attack but stressed that Iran will not act if the Israeli attack is limited, according to The New York Times. Iranian officials said Khamenei ordered the military to devise multiple military plans for responding to an Israeli attack in which the scope of any Iranian retaliation will largely depend on the severity of Israel’s attacks with Iran to retaliate if Israeli strikes inflict widespread damage and high casualties, but if Israel limits its attack to a few military bases and warehouses storing missiles and drones, Iran may do nothing. Furthermore, Khamenei directed that a response would be certain if Israel strikes oil and energy infrastructure or nuclear facilities, or if it assassinates senior officials.
- Israel conducted raids on the area of Choueifat Amrousiya, Haret Hreik and the Hadath area in the southern suburbs of Beirut, according to Sky News Arabia. Israel also conducted a raid on the Masnaa border crossing between Lebanon and Syria, as well as on the residence of press teams in the southern town of Hasbaya, Lebanon.
- Israeli Chief of Staff said a “definitive end” of the war in Lebanon is likely, according to Al Arabiya.
- Israel said its spy chief will attend Gaza ceasefire talks, while Hamas vows to stop fighting if a truce is reached, as long-stalled efforts to end the war appeared to gain momentum, according to Arab News via X.
- Egyptian media reported that an Egyptian security and military delegation met with the head of the Mossad and a delegation from the Shin Bet. It was separately reported that a Hamas delegation went to Cairo to listen to proposed ceasefire deal ideas but there is no change in the group’s position, according to a Hamas senior official.US and Israel are to hold Gaza peace talks in Doha with Washington to push for a ceasefire ahead of the Presidential Election, according to FT.
- Secretary General of the Gulf Cooperation Council said their recent meetings with Iran focused on the future of relations and ensuring calm, while their main goal is to end military operations in the Gaza Strip and Lebanon.
OTHER
- Russian President Putin said the cross-border payments issue is important and will develop cooperation within BRICS, while he added that BRICS does not pursue a separate common payment system and if the US is open to normal relations with Russia, they will do the same. Putin earlier said they will discuss peaceful settlements of conflict in the Middle East and that Ukraine is being used to create strategic threats to Russia.
- Elon Musk has reportedly been in regular contact with Russian President Putin since late 2022 and at one point, Putin asked him to avoid activating his Starlink internet service over Taiwan as a favour to Chinese President Xi, according to WSJ.
EU/UK
NOTABLE HEADLINES
- UK PM Starmer said Britons who receive additional income from stock holdings don’t count as ‘working people,’ which suggests he is willing to raise taxes on investors, according to Bloomberg.
- ECB’s Lane said analysis of underlying inflation also indicates that the disinflation process is well on track and inflation is set to return to target in the course of 2025. Lane said interest rate decisions are based on their assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. Furthermore, he said each of the underlying inflation indicators tracked by the ECB has declined significantly since the post-pandemic inflation surges, with the range narrowing towards its historical average, as well as noted that most other measures of underlying inflation that the ECB regularly monitor have also come down over the past year and showed signs of continued easing in September.
- ECB’s Kazaks said they must avoid doing undue damage to the economy and should not hold rates at high levels for too long, while he also stated the economy is the single biggest concern and it makes sense to go step-by-step on ECB rates.
- ECB’s Makhlouf said policy should remain prudent and cautious, while he added monetary policy cannot solve all economic issues and the ECB would need powerful data for large rate cuts.
- ECB’s Muller said he is still confident they’ll see a gradual recovery and is not worried about falling behind the curve, while the best policy choice is measured rate cuts.
- ECB’s Wunsch said they do not need a discussion on 50bps at this stage but noted Europe’s economy is weaker than they thought and they are data-dependent. Wunsch added that risks are still relatively balanced and a few changes could impact inflation in both directions.
DATA RECAP
- UK GfK Consumer Confidence (Oct) -21.0 vs. Exp. -21.0 (Prev. -20.0)
3B NORTH KOREA/SOUTH KOREA
NORTH KOREA/RUSSIA/USA
Dumb move if the USA moves in. They gain nothing
(zerohedge)
GOP Chair: US Must Consider ‘Direct Military Action’ If N.Korean Troops Fight In Ukraine
Friday, Oct 25, 2024 – 10:35 AM
Perhaps as expected, some hawks in Washington are reacting loudly and angrily to continuing reports which say North Korean troops are in Russia preparing for greater involvement in Ukraine. South Korean intelligence and the Zelensky government say that some are already in the fight, invading Ukrainian soil.
Republican Representative Mike Turner of Ohio, the chair of the House Intelligence Committee, has already taken warnings against Pyongyang to the next level. He has urged the United States to consider “direct military action” if it’s confirmed that North Korean troops are sent to fight in Ukraine.
“If North Korean troops were to invade Ukraine’s sovereign territory, the United States needs to seriously consider taking direct military action against the North Korean troops,” Rep. Turner wrote on X.
He also is trying to use this as a ‘told ya so’ moment, repeating his calls for the US to not shy away from supporting Ukrainian long-range strikes inside Russia.
“I have long challenged the Biden-Harris Administration’s unwise position on restricting Ukraine’s use of US weapons against targets within Russian territory,” Turner emphasized. “If North Korean troops attack Ukraine from Russian territory, Ukraine should be permitted to use American weapons to respond.”
Kim Jong-Un is likely to seize on these threats as an excuse to potentially ramp up missile launches or stage military drills. He has over the last months been touting a plan to rapidly expand and modernize North Korea’s nuclear program. Turner’s hawkish remarks aimed at Pyongyang are not going to help the situation, as relations between north and south are already at somewhat of a low point.
White House national security spokesman John Kirby on Wednesday described that the US assesses that at least 3,000 North Korean soldiers arrived at Russia’s Pacific port of Vladivostok. They reportedly arrived by boat earlier this month.
“These soldiers then travelled onward to multiple Russian military training sites in eastern Russia, where they are currently undergoing training,” Kirby said.
“We do not yet know whether these soldiers will enter into combat alongside the Russian military, but this is certainly a highly concerning probability,” he continued. And that’s when he added the warning and threat: should they deploy to fight against Ukraine, “they’re fair game”.
Turner called this a ‘red line’ issue also in an appearance on FOX:
Yonhap News Agency had previously reported that the country’s main intelligence agency, NIS, assessed that Pyongyang has made the decision to deploy four brigades to Ukraine, which amounts to an estimated 12,000 troops.
In a Tuesday evening address, President Zelensky echoed this figure, saying: “We have information that two units of military personnel from North Korea are being trained – potentially even two brigades of 6,000 people each.” Zelensky has further commented that this is a sign of the war’s growing internationalization in Moscow’s favor. He has demanded that his Western backers respond.
3C JAPAN
3D. CHINA
BRICS/
BRICS Summit Puts Focus On Dethroning US Dollar As Putin Unveils ‘BRICS Banknote’
Friday, Oct 25, 2024 – 06:55 AM
It’s an outcome that alternative economists have long predicted as inevitable – The dumping of the US dollar as the world reserve currency and the petro currency by the BRICS nations in favor of a new multi-currency system or “basket system.” For decades the dollar has reigned supreme as the most favored currency for international trade, replacing the British Pound Sterling (officially) after the Bretton Woods Agreement in 1944.
This status (along with the end of the gold standard) gave the Federal Reserve Bank the power to print cash with wild abandon without facing immediate inflationary consequences. As long as dollars are held overseas by foreign governments, banks and corporations, inflation in the US can be mitigated despite quantitative easing. If the dollar loses reserve status and the trillions of dollars stored in foreign markets flood back into the US economy, an inflationary disaster would result well beyond what America is already dealing with today.
Given this fact, it’s not surprising that Vladimir Putin avidly discussed the potential of a new BRICS currency system during the trade coalition’s summit this week in Kazan, Russia. He knows that the dollar’s reserve status is America’s strength, but also America’s greatest weakness.
Putin unveiled a “symbolic” BRICS bank note at the summit, suggesting that the plan to dump the dollar may be much closer to fruition than many economists expect.
Another central topic of the conference was the development of an alternative to the SWIFT payment system controlled by the US and Europe. The SWIFT system is the most efficient mechanism for governments and international banks to transfer large sums of money from one country to another. Russia was banned from using SWIFT after their invasion of Ukraine which many western analysts claimed would destroy Russia’s economy. This did not happen.
NATO sanctions ended up pushing the BRICS closer together, with China and India greatly increasing trade with Russia and China forming more defined military ties with the Kremlin.
Every plan to replace the dollar has revolved around the concept of central bank digital currencies (CBDCs) as a means to circumvent the dollar’s reserve advantage while also defeating the monopoly of the SWIFT network. The BRICS are also not the only entity working on such a plan.
Globalist bankers at both the IMF and the BIS have been developing digital alternative to the dollar system for years, with the BIS already testing CBDCs in multiple countries including Australia, Saudi Arabia and China with the intent to introduce a cashless economy in the next two years. The BIS calls this ‘Project mBridge’.
In other words, the naysayers that claim the dollar will not be replaced as the world reserve for many decades to come are delusional. The process is already well underway.
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
5 RUSSIAN AND MIDDLE EASTERN AFFAIRS
END
ISRAEL/HEZBOLLAH
Israel hits member of the press team who are also Hezbollah operatives
(JerusalemPost)
Israel strikes Beirut suburbs, members of press team killed in Hasbaya hit – report
The airstrikes came approximately two hours after IDF Arabic Spokesperson Avichay Adraee issued warnings to residents to evacute.
By KESHET NEEVOCTOBER 24, 2024 23:29Updated: OCTOBER 25, 2024 05:14
Multiple journalists from a press team were allegedly killed in an Israeli strike on Lebanon’s Hasbaya that took place during the early hours of Friday, the Lebanese news channel Al Mayadeen reported.
According to the report, the strike targeted the hotel where the press team stayed.
The report came after Israel hit Beruit suburbs with airstrikes during the late hours of Thursday night, Reuters images of the strikes showed.
The Hezbollah-owned Lebanese channel Al-Manar reported on the strikes, noting that they took place in the southern suburb of Chouaifet El Aamroussieh.
The images of the airstrikes came approximately two hours after IDF Arabic Spokesperson Avichay Adraee issued warnings to residents in Chouaifet El Aamroussieh and Haret Hreik, south of Beirut, to evacuate due to the strike plans.
In an X/Twitter post, Adraee wrote to those close to Chouaifet El Aamroussieh and Hart Hreik, “You are located near Hezbollah facilities and interests, against which the IDF will operate in the near future.”
The spokesperson advised to remain at a distance of no less than 500 meters, attaching a graphic that marked in red the location of the intended strike.
Airstrikes hit Hezbollah weapon structures
Israel has conducted strikes in the Beirut area throughout the week.
The IDF struck several weapons storage and manufacturing facilities belonging to Hezbollah near the Beirut suburb of Dahieh, Israel’s military said on Thursday morning.
The IDF noted that the sites hit were built under and inside civilian buildings, which it said was a part of Hezbollah’s systematic abuse of civilian infrastructure, endangering the civilian population in the area.
It also emphasized that several steps had been taken to mitigate civilian harm before those strikes as well.
END
Israel pounds Beirut again after hundreds of rockets fire upon Israel
(Times of Israel)
IDF pounds Beirut after Hezbollah’s Simchat Torah eve rocket fire at central Israel
State media reports six buildings leveled in strikes on Lebanese capital; one said killed, several hurt in attack targeting office of Hezbollah-linked broadcaster Al-Mayadeen
By Agencies and ToI Staff24 October 2024, 3:58 am
Flames and smoke rises from buildings hit by Israeli airstrikes on the southern suburb of Beirut, October 23, 2024. (AP Photo/Hussein Malla)
Lebanon state media reported 17 Israeli strikes on Beirut’s southern suburbs, with six buildings leveled and the vacated offices of a Hezbollah-linked broadcaster hit on Wednesday, after the Lebanese terror group fired rockets at central Israel as the country began marking the Simhat Torah holiday.
AFPTV footage showed a massive explosion followed by smaller blasts in the southern suburbs following an Israeli army evacuation warning for the area, where Hezbollah holds sway.
The official National News Agency (NNA) reported at least 17 Israeli raids, marking one of the most intensive nights of strikes targeting the area in the past month.
Six buildings were destroyed around the suburb of Laylaki, NNA said, calling the raids “the most violent in the area since the beginning of the war.”
The strikes came shortly after the Israel Defense Forces’ Arabic-language spokesman, Avichay Adraee, issued evacuation warnings on social media platform X.
There was no warning, however, for a strike that hit the Jnah neighborhood in southern Beirut that targeted an office the pro-Iran TV channel Al-Mayadeen said it vacated.
“Al-Mayadeen holds the Israeli occupation accountable for the attack on a known media office for a known media outlet,” said the pan-Arab broadcaster, which is aligned with Hezbollah.
The strike killed one person and wounded five others, according to Lebanon’s health ministry. The name of the person killed was unknown.
Smoke rises from the site of an Israeli airstrike that targeted a residential complex in the Leylaki neighborhood in Beirut’s southern suburbs on October 23, 2024. (AFP)
The office was hit by two rockets and “completely destroyed” in the strike, which sparked a blaze inside, NNA reported.
Al-Mayadeen’s office is located near the former premises of the Iranian embassy in Beirut and close to a Lebanese army checkpoint.
Israel launched strikes earlier Wednesday in the ancient coastal city of Tyre, which according to NNA caused “massive destruction and serious damage to homes, infrastructure, buildings, shops and cars.”
The Lebanese health ministry said 16 people were wounded in the strikes on Tyre, while AFP footage showed entire neighborhoods buried under rubble.
“The whole city shook,” Rana, a resident who asked to only use her first name over security concerns, told AFP after fleeing to the seafront following an Israeli military warning for people to evacuate much of Tyre’s center in the morning.
The IDF strikes targeted “command and control complexes of various Hezbollah units,” according to a social media post by Adraee.
Adraee described Tyre as an “important” Hezbollah stronghold, although Amal, an ally of the Iran-backed group, was believed to hold more sway there.
Smoke plumes erupt following an Israeli airstrike on a neighborhood of Lebanon’s southern city of Tyre on October 23, 2024. (Kawnat Haju/AFP)
Before the Israel-Hezbollah border skirmishes began last year, at least 50,000 people lived in Tyre, a vibrant city home to both Christians and Muslims. The city was emptied of most of its population when Israel’s escalated its offensive against Hezbollah last month.
Only 14,500 remained there on Tuesday, said Bilal Kashmar of Tyre’s disaster management unit.
But the city saw a fresh exodus on Wednesday as people began to escape immediately after the Israeli army issued an evacuation warning for four neighborhoods at 8:00 a.m.
Emergency teams drove around the city, urging people to evacuate over megaphones, a video journalist collaborating with AFP said.
An AFP photographer in the city of Sidon, further north, saw dozens of cars on the coastal highway filled with families carrying mattresses, suitcases and clothes.
Tyre is one of the oldest continuously inhabited cities in the world. It is home to important archaeological sites, mainly from Roman times.
Kashmar said there has yet to be a damage assessment for heritage sites.
However, “damage is possible,” he said, explaining that one strike hit less than 50 meters away from one of the city’s ruins.
UNESCO said it was “closely following the impact of the ongoing conflict on the World Heritage site of Tyre” using remote sensing tools and satellite imagery.
Emergency services clear the rubble from the site of an Israeli strike that targeted the southern Lebanese city of Tyre on October 23, 2024. (Kawnat Haju/AFP)
Since October 8, 2023, Hezbollah-led forces have been attacking Israeli communities and military posts along the border on a near-daily basis, with the group saying it is doing so to support Gaza amid the war there.
Some 60,000 residents were evacuated from northern towns on the Lebanon border shortly after Hamas’s October 7 onslaught, amid fears Hezbollah would carry out a similar attack, and increasing rocket fire by the terror group.
Prime Minister Benjamin Netanyahu said Wednesday that Israel uncovered a plot by Hezbollah to attack via underground tunnels involving jeeps and missiles, telling French broadcasters CNews and Europe 1 that had the plan succeeded, such an assault would be been more damaging than the October 7, 2023, Hamas onslaught.
“A hundred meters, two hundred meters from the border we found tunnels, tunnels that were preparing an invasion of Israel, an attack even greater than on October 7,” Netanyahu said, according to a simultaneous translation provided by the networks.
“With jeeps, with motorbikes, with rockets, with missiles. They were planning an invasion.”
Netanyahu had told French daily Le Figaro earlier this month that the Israeli army found Russian cutting-edge military hardware in Hezbollah arms caches.
end
ISRAEL HEZBOLLAH/THURSDAY NIGHT
3200 Hezbollah targets struck last night//120 rockets slam into Israel
(Times of Israel)
5 soldiers killed in south Lebanon; IDF: 3,200 Hezbollah targets struck in past month
IDF chief says Hezbollah’s senior command ‘thoroughly finished’; strikes hit Beirut’s southern suburbs after more than 120 rockets fired at northern Israel
By Emanuel Fabian Follow
and AgenciesToday, 1:28 am
Soldiers killed during fighting in southern Lebanon on October 23 and 24, 2024: (L-R) Sgt. First Class Gai Ben-Haroosh, Warrant Officer (res.) Mordechai Haim Amoyal, Sgt. Maj. (res.) Shmuel Harari, Master Sgt. (res.) Shlomo Aviad Nayman, and Sgt. First Class (res.) Shuvael Ben-Natan.
Four Israeli reserve troops were killed and six others were wounded during a clash with Hezbollah operatives in southern Lebanon on Wednesday afternoon, the IDF said, and a soldier from the Oketz canine unit was killed on Thursday amid the ground offensive against the Iran-backed terror group.
In Israel, Hezbollah rocket fire from Lebanon continued unabated throughout the day as Jews observed the Simhat Torah holiday, a usually joyous occasion muted this year by the first Hebrew anniversary of the October 7, 2023, Hamas terror onslaught.
The slain IDF reservists were named as:
- Warrant Officer (res.) Mordechai Haim Amoyal, 42, from Lod.
- Sgt. Maj. (res.) Shmuel Harari, 35, from Safed.
- Master Sgt. (res.) Shlomo Aviad Nayman, 31, from Mitzpe Yeriho.
- and Sgt. First Class (res.) Shuvael Ben-Natan, 22, from Rehalim.
They all served with the Carmeli Brigade’s 222nd Battalion.
According to an initial IDF probe of the deadly incident on Wednesday, several Hezbollah operatives emerged from a tunnel and hurled grenades at the troops. The soldiers returned fire, but it remained unclear as of Thursday night how many operatives were hit.
Among the six soldiers injured in the incident, three were listed in serious condition.
The announcement made Wednesday one of the deadliest days of Israel’s offensive in southern Lebanon.
The IDF said that on Thursday, Sgt. First Class Gai Ben-Haroosh, 23, from Pardes Hanna-Karkur, was also killed during fighting in southern Lebanon.
He was a commander in the Oketz canine unit.
A reservist with the 55th Paratroopers Brigade’s 7155th Battalion was seriously wounded in the same incident.
In separate incidents on Thursday, the IDF said an officer with with the 7th Armored Brigade’s 75th Battalion was seriously wounded in an anti-tank guided missile attack; and an officer with 226th Paratroopers Brigade’s 6226th Battalion was seriously wounded by shrapnel.
The wounded soldiers were all evacuated to hospitals for medical treatment.
Strikes hit Beirut for second consecutive night
The ground offensive of the past month has been carried out in tandem with airstrikes targeting Hezbollah figures and infrastructure across southern Lebanon and, to a lesser extent, in eastern Lebanon and Beirut.
Lebanon state media said on Thursday night that strikes had again targeted the city’s southern suburbs, a Hezbollah stronghold known as Dahiyeh, after 17 Israeli strikes hit the area the previous night in what was one of the most intensive nights of strikes in the area over the past month.
Around half an hour before the strikes commenced, the IDF’s Arabic-language spokesman Col. Avichay Adraee called for Lebanese civilians near two buildings in the southern suburb of Beirut to evacuate.
He published maps alongside the announcement, which called on civilians to distance themselves at least 500 meters from the sites, which the military said belong to Hezbollah.
He later called for people to evacuate the area surrounding another three buildings.
“Israeli warplanes launched a new strike a short while ago on the Choueifat” area, Lebanon’s official National News Agency said, later also reporting an Israeli air attack on another south Beirut neighborhood.
AFPTV footage showed two plumes of smoke rising from Beirut’s south and AFP correspondents in the Lebanese capital heard two loud bangs about half an hour apart.
Smoke rises from the site of an Israeli air strike on a neighbourhood in Beirut’s southern suburbs on October 24, 2024. (Ibrahim Amro/AFP)
Unabated rocket and drone attacks
Meanwhile, more than 120 rockets and several drones were launched at northern Israel from Lebanon on Thursday, with one of many barrages causing damage to a residential building in the northern city of Karmiel.
The building appeared to have been directly impacted, although the IDF said that five projectiles fired at the Karmiel area had been downed by air defenses.
Medics said that an 84-year-old man was lightly injured in the attack.
Air raid sirens also blared in Nahariya, and explosions could be heard as air defenses intercepted rockets.
Footage showed damage to a car, part of a projectile on the roadside, and a hole in the road where it struck.
At least three drones were also fired at Israel amid the rocket barrages, two of which were intercepted by air defenses.
In one incident, two drones were launched at the Upper Galilee, and one impacted in an open area while the other was shot down. A third drone heading for the Western Galilee was intercepted a short while later.
A member of Hezbollah’s drone unit was killed in an airstrike in southern Lebanon on Thursday, the military said, after he was identified collecting a surveillance drone that had returned to Lebanon after being launched at Israel. It released footage of the incident.
The IDF also released footage on Thursday of Hezbollah weapons that have been captured over the last month of fighting.
“In the last month alone we have struck over 3,200 targets in southern Lebanon, including 350 weapon depots,” IDF Spokesman Rear Adm. Daniel Hagari said in a press conference.
He said troops had captured some 3,200 explosive devices and some 2,500 anti-tank missiles and RPGs.
Israel launched its ground offensive in Lebanon last month, after a year of near-daily attacks carried out by Hezbollah-led forces on Israeli communities and military posts along the border.
It has said several times that it wants the ground operation to be swift as it does not wish to see troops bogged down in Lebanon, and IDF Chief of Staff Lt. Gen. Herzi Halevi has indicated that it may soon reach its end.
“In the north, there is a possibility of reaching a sharp end,” he told troops during an assessment in the Gaza Strip on Wednesday, in a video distributed by the IDF. “We finished Hezbollah’s senior chain of command in a very thorough way.”
Some 60,000 residents from northern Israel have been internally displaced for the last year, after they were evacuated amid increasing rocket fire and due to fears that Hezbollah would carry out a similar attack to the one committed by Hamas in southern Israel on October 7, 2023.
Twenty-nine civilians have been killed by the attacks on northern Israel, while 50 IDF soldiers have died in cross-border skirmishes and the ensuing ground operation launched in southern Lebanon in late September.
The IDF estimates that more than 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.
Hezbollah has named 516 members who have been killed by Israel amid the fighting, mostly in Lebanon but some also in Syria. These numbers have not been consistently updated since Israel began a new offensive against Hezbollah in September.
Times of Israel Staff contributed to this report.
END
ISRAEL/HEZBOLLAH/THURSDAY
Israel is clearing out Southern Lebanon so they will have a buffer zone and no Hezbollah operative can hide so as to attack Northern Israel
(Times of Israel)
After clearing Lebanese village, IDF troops say weapons found in nearly every home
‘They were completely ready for another October 7. It’s not hard to imagine that they would have done it,’ says IDF reservist. ‘We also found Nazi flags and Hitler statues’
By Sam Sokol FollowToday, 6:03 a
The commander of the Etzioni Brigade’s 8103rd Battalion, Lt. Col. Elishama Jacobs, stands in a ruined village in southern Lebanon on October 21, following a sweep by members of the Etzioni brigade. (Sam Sokol/Times of Israel)
LEBANON — “We’ve spent more than 200 days in reserve duty,” the soldier shouts over the roar of the wind, turning around in the front passenger seat of the open-air IDF Humvee. The vehicle bumps and rattles its way over a broken road leading from northern Israel into southwestern Lebanon.
As dust streams in through the open sides, coating the soldiers and journalists within, the Humvee passes a wall marking the Blue Line separating the two countries, exposing a scene of utter devastation.
Burn pits next to the road give off an acrid smell made worse by numerous small fires among the rolling hills as the Humvee speeds along the road, swaying violently side to side.
“We’e now on our third mobilization of the year,” the soldier adds as he makes the short drive to the southern Lebanese village where his unit, the IDF’s 6th “Etzioni” Brigade, is involved in sweep and clear operations to uncover and destroy Hezbollah weapons caches and other infrastructure.
Hezbollah began attacking northern Israel a day after Hamas’s October 7, 2023 attacks on the country’s south, saying it was doing so in support of the Gaza-based terror group.
But after suffering nearly a year of cross-border attacks, Israel struck back in September, with a combination of strikes against commanders in the field and senior leaders in Beirut which decimated its leadership and crippled much of its capabilities.
The remains of a village in southern Lebanon now occupied by the IDF, October 21, 2024. (Sam Sokol/Times of Israel)
But instead of launching a campaign designed to take apart Hezbollah’s powerful military, Israel opted for a limited ground operation against enemy infrastructure, not fighters — of which the IDF says 2,000 have been killed thus far.
The 6th was the first reserve unit to be sent into Lebanon and The Times of Israel, along with other Israeli news outlets, was invited by the Israel Defense Forces to observe its part of the operation on Monday afternoon.
Dodging drones
Waiting on the side of the road is Etzioni Brigade’s commander Col. Sarel Sebag, who leads a contingent of officers and enlisted men, many of them masked against the omnipresent dust, down a steep embankment into a small valley pocked by craters of fresh-turned dark soil.
Standing next to a small copse of trees, Sebag begins explaining his brigade’s mission when a flaming drone, trailing a tail of smoke, crashes down around 100 meters away over the crest of a nearby hill — apparently brought down by Israeli air defenses
Shrugging off the incident, Sebag says that while his troops have established operational control, “destroying all of the Hezbollah positions and storage facilities and tunnels” they can find in their territory just over the northern border, they will still need to stay on their toes.
Soon “we will move to the clearing phase,” he continues, indicating the surrounding area with a sweeping gesture of his arm. “Soon there will be nothing here. There won’t be any trees. There won’t be any bushes in this whole area so that in the future Hezbollah won’t be able to approach the border.”
And while his mission is assisted greatly by intelligence, the IDF is still going over the terrain “meter by meter,” uncovering “weapons storage sites and underground fighting positions near the border” to ensure the safe return of the tens of thousands of Israelis displaced by the war in the north, he says.
Soldiers belonging to Battalion 8103 of the IDF’s 6th (Etzioni) Brigade outside a destroyed house in southern Lebanon, October 21, 2024. (Sam Sokol/Times of Israel)
Defending the north
“We understand the importance of what we are doing. We’ve been guarding the towns behind us since October 7,” Sebag emphasized, gesturing behind him toward the nearby Israeli border. “And now we are operating on this side and destroying [Hezbollah]. Only this can bring security to the residents of the north.”
Asked in how many homes his men have found weapons, Sebag responds that “in these villages it’s not just one or two houses, it’s all of the village. These are villages that are strongly identified with Hezbollah. In almost every home there are weapons and signs of identification with the organization.”
IDF troops belonging to the Etzioni Brigade walk through a destroyed Hezbollah stronghold in southern Lebanon, October 21, 2024. (Sam Sokol/Times of Israel)
His men agree, with one telling The Times of Israel that they had found rifles on tables in many houses, ready for use, and that weapons were even found in the village’s school and medical clinic.
Driving past a devastated landscape of torn and shattered concrete, one soldier points out sites where there had previously been tunnels, weapons storage depots and other Hezbollah facilities.
The residents of the village, whose name The Times of Israel is not allowed to publish, fled after the beginning of the war, allowing the IDF to pound Hezbollah positions from afar before entering on foot, the soldier notes.
Gesturing toward a lone structure rising like an island from a sea of rubble, the soldier says that this was the site of one of multiple Hezbollah tunnels found in the area.
Hezbollah, Iran and Hitler
Descending a set of concrete stairs in a damaged house in the middle of the village, we find the officers of the brigade’s 8103rd Battalion in the middle of a staff meeting.
Seated on comfortable chairs and couches surrounding a low slung coffee table in a basement lined with red and beige wall hangings, the officers give their reports and discuss their units’ dispositions while a group of soldiers lounge in the back of the room.
A box of directional anti-personnel Claymore mines in a home in a village in southern Lebanon, October 21, 2024. (Sam Sokol/Times of Israel)
Dirty and unshaven, they smile and crack jokes as they speak over the repeated booms of outgoing fire, one of which is loud enough to cause battalion commander Lt. Col. Elishama Jacobs to pause in the middle of a sentence.
One of the men sitting in the basement during the briefing is Sergeant First Class Natan, an American immigrant in his twenties.
“We’ve been here for about a week and a half. Before we went in, obviously, there was a lot of air power and artillery that went in. When we came to take the area, we did, obviously, with the help of tanks and combat engineers and a lot of other forces that came to help,” he recalls.
“Since we attacked the village we’ve gone house to house looking for ammunition and for weapons. It wasn’t hard to find. We found weapons or other Hezbollah apparel in almost every house that we found. That ranges from mortars to guns, to anti-tank missiles, to everything else in between, [including] intelligence,” he describes.
Soldiers belonging to Battalion 8103 of the IDF’s 6th (Etzioni) Brigade inside a home in southern Lebanon where Hezbollah stored weapons, October 21, 2024. (Sam Sokol/Times of Israel)
“We found they were ready for another October seventh, and we’re very close to the border, so it’s not hard to imagine that they would have done it.”
In addition to the weapons, troops found pictures of the Iranian mullahs and even “Nazi flags and Hitler statues” which were passed on to military intelligence, Natan says, a claim that The Times of Israel is unable to verify.
Claymores and anti-tank mines
Making their way through broken bits of concrete and masonry and over downed and inactive power lines laying across the road, the troops of the 8103rd Battalion arrive at a shattered building with the words “thank you, my heroic wife,” scrawled in Hebrew across the front wall.
Making their way into the darkened structure, they crowd into a small foyer filled with boxes of weapons, beyond which is another room, full of broken glass, where, across from an old-fashioned CRT television, sit green wooden boxes of anti-tank and directional anti-personnel Claymore-style mines.
“They were so scared that they left all of this behind,” says one soldier with night vision glasses attached to his helmet.
Under fire
Leaving the house to the sounds of distant gunfire, the soldiers make their way down the village’s main road when someone yells to take cover and they launch themselves onto the ground next to a low wall.
They barely begin to rise when the call goes out again and they again drop to the ground.
“Rockets fall all the time,” one soldier notes casually. “Last week, a rocket fell really close to us, maybe 15 meters (49 feet). We lay down and it was very close but because we were on the ground with helmets nothing happened. There was shrapnel in the air but everything was okay.”
Arriving at another command post on a different hilltop soon after the incident, the soldiers start to chat and drink Turkish coffee and wait for the evening’s show: the demolition of a group of houses previously used by Hezbollah fighters on a nearby hilltop.
Suddenly, somebody yells for everybody to come outside and an officer begins a countdown, declaring that “this is for the sake of the residents of the north, who will soon return home.”
Suddenly the hillside erupts in fire, a searing light reaching the command post just ahead of the sound of a massive explosion and a pressure wave driving the wind before it like a minor hurricane.
But even as the soldiers erupt in cheers as the darkness of night closes in again, none are able to say how long they will be required to remain at war.
END
ISRAEL LEBANON/HEZBOLLAH
Lebanon rocket fire sets off sirens in numerous northern Israeli towns, including Caesarea
Today, 6:53 am
Incoming rocket sirens are sounding in communities across the Menashe, Wadi Ari and Carmel areas of northern Israel.
An initial IDF statement says the sirens were triggered by rockets fired from Lebanon.
Among the towns where sirens are activated is Caesarea, where Prime Minister Benjamin Netanyahu has a home that was targeted in a Hezbollah drone attack over the weekend.
END
ISRAEL/HEZBOLLAH
IDF says missile fired from Lebanon at northern Israel was intercepted
By Emanuel Fabian FollowToday, 7:09 am
One missile launched from Lebanon at northern Israel was successfully intercepted by air defenses, the IDF says.
Sirens had sounded in numerous towns amid the attack, including in Caesarea.
END
ISRAEL/HEZBOLLAH/FRIDAY MORNING
IDF confirms five soldiers killed, four wounded in Lebanon combat
All served in the 89th Battalion of the 8th Brigade.
By JERUSALEM POST STAFFOCTOBER 25, 2024 10:21Updated: OCTOBER 25, 2024 10:55
Five soldiers were killed in combat in southern Lebanon, the IDF said on Friday.
Major (Res.) Dan Maori, 43, from Beit Yitzhak, served as a battalion deputy commander and Captain (Res.) Alon Safrai, 28, from Jerusalem, served as a tank officer.
The other soldiers were named as Chief Warrant Officer (Res.) Omri Lotan, 47, from Bat Hefer; Chief Warrant Officer (Res.) Guy Idan, 51, from Kibbutz Shomrat; and Staff-Sergeant-Major Tom Segal, 28, from Ein Habesor.
All the fallen soldiers served in the 89th Battalion in the 8th Brigade.
According to the IDF’s tally, the deaths of Maj. Maori, Capt. Safrai, CWO Lotan, CWO Idan, and St.-Sgt.-Maj. Segal raises the total of soldiers killed on or since October 7 of last year to 762.
Reservists seriously wounded in incident
The military added that in the incident in which the five soldiers fell, four reservists were seriously wounded.
These include two IDF reservists serving in the 9203rd Battalion in the 3rd Brigade, an IDF reservist from the 8th Brigade, and an NCO reservist serving in the 89th Battalion.
In a separate incident on Friday, an IDF reservist of the 221st Battalion in the 2nd Brigade was seriously wounded during combat in southern Lebanon
END
ISRAEL/HEZBOLLAH//HAMAS///FRIDAY
IDF eliminates huge numbers of terrorists in both Lebanon and GAZA
IDF eliminates Abbas Adnan Moslem, Radwan Force Aitaroun commander
Moslem was responsible for conducting terror activities against Israel’s North and IDF troops, the military added.
By JERUSALEM POST STAFFOCTOBER 25, 2024 07:23Updated: OCTOBER 25, 2024 07:39
https://player.jpost.com/public/player.html?player=jpost&media=3789073&url=https://www.jpost.com/breaking-news/article-826025IAF strikes a Hezbollah terrorist. October 25, 2024. (IDF SPOKESPERSON’S UNIT).
An IDF aircraft eliminated Abbas Adnan Moslem, Hezbollah‘s Radwan force commander of the Aitaroun area in southern Lebanon, the military said on Friday.
Moslem was responsible for conducting terror activities against Israel’s North and IDF troops, the military added.
Throughout the past day, IDF troops killed dozens of Hezbollah terrorists and destroyed terror infrastructure and military structures belonging to the terrorist group.
Troops of the 146th Division struck some 50 terror infrastructure while soldiers of the 98th Division eliminated terrorists who were preparing to ambush them. The troops also located and destroyed a Kornet missile launcher ready for use.
In addition, the military noted that in the past day, Israel Air Force jets struck some 200 terror targets throughout Lebanon.
Troops operate in the Gaza Strip
In Jabalya in the northern Gaza Strip, troops eliminated terrorists, who they identified were near a car bomb.
In central Gaza, soldiers of the 252 Division conducted targeted raids, killing terrorists and demolishing Hamas terror infrastructure.
Troops also operated in southern Gaza, destroying infrastructure and eliminating terrorists with the aid of the IAF.
end
ISRAEL/HAMAS
3 soldiers killed in north Gaza as troops raid hospital in pursuit of Hamas operatives
IDF says it has facilitated the evacuation of patients and sent in medical supplies; Palestinians say dozens detained; WHO says it has lost contact with Kamal Adwan Hospital
By Emanuel Fabian, Follow
Agencies and ToI StaffToday, 6:36 pm
Soldiers killed in fighting in Gaza on October 25, 2024 (L-R): Sgt. Ido Ben Zvi, Sgt. Hillel Ovadia, Cpt. Barak Israel Sagan (Courtesy)
Three Israel Defense Forces soldiers were killed Friday during fighting in the northern Gaza Strip’s Jabaliya as the military pushed ahead with an offensive in the neighborhood, including taking control of the area’s last functioning hospital in pursuit of Hamas operatives.
The IDF also continued with widespread strikes and raids across Gaza, with Hamas-run health authorities reporting more than 70 people killed in the past 24 hours.
The slain troops were named as Cpt. Barak Israel Sagan, 22, from Petah Tikva; Sgt. Ido Ben Zvi, 21, from Shomrat; and Sgt. Hillel Ovadia, 22, from Jerusalem.
All three served with the 460th Armored Brigade’s 196th Battalion. The brigade is the IDF’s school for tank commanders during peacetime. Sagan was a commander at the school, while Ben Zvi and Ovadia were cadets.
The three were killed in northern Gaza’s Jabaliya early on Friday morning when a powerful bomb was detonated against the tank they were in. The fourth soldier in the tank was moderately wounded.
Following the incident, Israel’s toll in the ground offensive against Hamas in Gaza and in military operations along the border with the Strip stood at 361.
Also Friday, the IDF said it was operating at the Kamal Adwan Hospital in the northern Gaza Strip amid “intelligence information on terrorists and terror infrastructure in the area.”
IDF troops operate in the Gaza Strip, in an undated handout image released for publication on October 25, 2024. (Israel Defense Forces)
In the weeks before the operation, the IDF said it enabled the evacuation of patients and staff from the hospital, while also ensuring that the medical center’s emergency systems continued to function.
So far, some 45,000 Palestinian civilians have evacuated from Jabaliya amid the IDF’s operation in the area, according to the military’s latest estimates. Hundreds of suspected terror operatives were detained, and hundreds of gunmen were also killed, the IDF added.
Gaza’s Hamas-run health ministry said hundreds of patients and staff were detained in the raid on the hospital.
“They are detaining hundreds of patients, medical staff and some displaced individuals from neighboring areas who sought refuge in the hospital from continuous bombardment,” the ministry said.
COGAT — the Israeli defense ministry body that manages civilian affairs in the Palestinian territories — said Friday it had allowed the transfer of 23 patients out of the hospital the previous night by Palestinian ambulances and UN vehicles.
Patients and medical staff are evacuated from the Kamal Adwan hospital in northern Gaza by UN officials on October 24, 2024 (COGAT)
Kamal Adwan is the last functioning hospital in Gaza’s north. The facility said it has been struggling with shortages since the start of the war, which has been increasingly aggravated by the launch of an Israeli operation in northern Gaza earlier this month.
“There has been no supply or provision of food, medicine, or essential medical supplies needed to save the lives of the injured and sick in the hospital,” the ministry claimed, calling the situation inside “catastrophic in every sense of the word.”
COGAT said in its statement it had allowed the transfer of one fuel truck, “180 blood units and a truckload of medical equipment” donated by UN agencies.
Hamas called the storming of Kamal Adwan “a war crime and a flagrant violation of international laws.”
Meanwhile, the World Health Organization said it had lost contact with the hospital.
“Since this morning’s reports of a raid on Kamal Adwan Hospital in northern Gaza, we have lost touch with the personnel there,” WHO chief Tedros Adhanom Ghebreyesus said on X on Friday.
“This development is deeply disturbing, given the number of patients being served and people sheltering there.”
Tedros confirmed that the WHO and partner agencies had reached the hospital and managed to transfer 23 patients and 26 caregivers to Gaza’s main Al-Shifa Hospital.
Patients and medical staff are evacuated from the Kamal Adwan hospital in northern Gaza by UN officials on October 25, 2024 (COGAT)
“Kamal Adwan Hospital has been overflowing with close to 200 patients — a constant stream of horrific trauma cases. It is also full of hundreds of people seeking shelter,” said Tedros.
“Accessing hospitals across Gaza is getting unbelievably harder and exposes our staff to unnecessary danger.”
He called for an immediate ceasefire and the protection of hospitals, patients, health professionals and humanitarians.
In recent months, the IDF has carried out dozens of airstrikes on what it says are Hamas sites embedded within locations used as shelters for civilians, including hospitals, schools and UN facilities. It says it regularly takes steps to limit the harm by such strikes.
Also Friday, Palestinian officials said that 72 Palestinians had been killed in strikes and raids across Gaza since Thursday night.
The ministry said a strike on houses in the southern city of Khan Younis killed at least 38, claiming many of them were women and children.
Meanwhile, Israeli strikes on three houses in the nearby Gaza town of Beit Lahiya killed 25 people and wounded dozens more, medics said.
Later on Friday, an Israeli airstrike killed nine people in Shati camp in Gaza City, medics said.
The figures could not be verified and did not differentiate between civilians and terror operatives.
The Israeli military said its forces had killed a number of Palestinian gunmen in air and ground strikes in the southern Gaza Strip and dismantled military infrastructure.
Meanwhile, UN human rights chief Volker Turk said the “darkest moment” of the conflict in Gaza was unfolding in the north of the territory, warning Friday that Israel’s actions could amount to “atrocity crimes.”
“Unimaginably, the situation is getting worse by the day,” Turk said.
Displaced Palestinians gather in the courtyard of a UN school-turned shelter in the Nasser district of Gaza City, in the northern Gaza Strip on October 25, 2024, amid the ongoing war between Israel and Hamas. (Photo by Omar AL-QATTAA / AFP)
“My gravest fear is, given the intensity, breadth, scale and blatant nature of the Israeli operation currently underway in north Gaza, that number will rise dramatically.”
Turk, the United Nations High Commissioner for Human Rights, warned that Israel’s policies in northern Gaza “risk emptying the area of all Palestinians.”
“We are facing what could amount to atrocity crimes, including potentially extending to crimes against humanity,” he claimed, calling on the world’s leaders to act, stressing that all states are obligated under the Geneva Conventions to ensure respect for international humanitarian law.
His statement stressed the urgency of the situation, warning that “today the darkest moment of the Gaza conflict is unfolding in the north of the Strip, where the Israeli military is effectively subjecting an entire population to bombing, siege and risk of starvation.”
“The bombing in north Gaza is non-stop,” he claimed.
At the same time, “the Israeli military has ordered hundreds of thousands to move, with no guarantees of return. But there is no safe way to leave,” he warned.
The UN rights chief cautioned that there was “extremely limited access to this part of Gaza, (and) next to no aid has reached the area in weeks, with unlawful restrictions remaining.”
Turk’s statement also pointed out that Palestinian terror groups also continue to operate among civilians, including in places of shelter, putting civilians in harm’s way “which is totally unacceptable.”
Displaced Palestinians who fled Israeli army operations in the northern Gaza Strip, set up tents to be used as temporary shelters at the Yarmouk Sports Stadium, once a football arena, in Gaza City on October 25, 2024, amid the ongoing war between Israel and the Hamas. (Photo by Omar AL-QATTAA / AFP)
After nearly a year of war in Gaza sparked by Hamas’s October 7, 2023 terror onslaught, Israel kept up the pressure on Hamas, and launched a new operation in the northern Gaza Strip earlier this month, which it said was aimed at preventing terror operatives from regrouping in the war-torn territory. The Israeli military says the goal of its assault is to destroy the operational capabilities that Hamas is trying to rebuild in the north.
Amid the operation, the IDF has ordered the evacuation of Jabaliya and surrounding towns in northern Gaza, where several hundred thousand Palestinians are believed to still reside, despite repeated urgings by Israel to leave since the start of the war.
While tens of thousands have fled, many more have remained either because they are unwilling or unable to evacuate, and there have been reports that Hamas has been trying to prevent civilians from evacuating.
The war in Gaza began with the brutal massacre carried out by Hamas in southern Israel on October 7. Israel vowed to destroy Hamas’s military and governing capabilities and to ensure that Gaza’s terror groups no longer posed a threat.
The Hamas-run Gaza health ministry says more than 42,000 people in the Strip have been killed or are presumed dead in the fighting so far. The toll cannot be verified and does not differentiate between civilians and fighters. Israel says it has killed some 17,000 combatants in battle as of August and another 1,000 terrorists inside Israel on October 7.
IRAN/ISRAEL
‘Don’t count on THAAD’ for protection: IRGC issues renewed threats to Israel
“Don’t count on THAAD. Every time you fire a projectile, we will fire more than you,” Salami reportedly said.
By JERUSALEM POST STAFFOCTOBER 24, 2024 13:13Updated: OCTOBER 25, 2024 02:13
IRGC chief Hossein Salami issued new threats to Israel on Thursday, warning the country not to count on the Terminal High Altitude Area Defense (THAAD) anti-ballistic missile system for protection, Saudi media site Al-Hadath reported.
The comment came as Iran has been awaiting Israeli retaliation for its aerial attack earlier this month.
The US military rushed the THAAD advanced anti-missile system to Israel, and US Defense Secretary Lloyd Austin described it as being “in place” on Monday.
“Don’t count on THAAD. Every time you fire a projectile, we will fire more than you,” Salami reportedly said.
Austin declined to say whether the THAAD system was operational. However, he added, “We have the ability to put it into operation very quickly, and we’re on pace with our expectations.”
True Promise
Salami stated that Iran’s October 1 missile attack on Israel was proof that the THAAD system was incapable of protecting Israel.
This was said despite the fact that the system was not in use in Israel during the time of the October attack.
“The Zionist entity is wrong, and the ‘True Promise 2’ operation proved the failure of its defense systems. The THAAD system will not succeed in protecting it,” he said.
Reuters contributed to this report.
END
IRAN/ISRAEL
Iran braces for Israeli attack
(Times of Israel)
Iran readying for war with Israel as it braces for response to missile attack — NYT
Today, 2:06 am
A ‘Fattah’ missile is displayed during the annual military parade marking the anniversary of the outbreak of Iran’s 1980-1988 war with Saddam Hussein’s Iraq, in Tehran on September 21, 2024. (Atta Kenare/AFP)
Iran is readying for a war with Israel while at the same seeking to avoid one, according to a New York Times report that comes as the Islamic Republic waits for Israel’s response to its latest missile attack. “Iran has ordered the armed forces to be prepared for war but also to try to avoid it,” the report says.
The report cites four Iranian officials who say Supreme Leader Ayatollah Ali Khamenei ordered Iran’s armed forces to formulate numerous plans for responding to the expected Israeli retaliation. They warn Iran will attack if there is significant damage or casualties, but may stay its hand if Israel only targets a limited number of military sites and weapons depots.
The officials — two of whom belong to the Islamic Revolutionary Guard Corps — say that Iran will definitely respond if Israel hits oil sites, nuclear facilities or targets senior officials, with potential options including an attack with up to 1,000 ballistic missiles or the disruption of energy supplies in the region.
end
IRAN/ISRAEL
If Iran used 1000 ballistic missiles on Israel then Israel would nuke Iran
(Jerusalem Post)
Up to 1,000 missiles: Iranian officials disclose potential retaliation plans – NYT
Iran’s response to an Israeli strike would be contingent on the extent of Israel’s attack, the officials claimed.
By JERUSALEM POST STAFFOCTOBER 25, 2024 09:01Updated: OCTOBER 25, 2024 09:10
Ayatollah Ali Khamenei has asked the Iranian military to prepare response scenarios to a potential Israeli attack, according to a Thursday New York Times report, citing four Iranian officials.
Iran’s response to an Israeli strike would be contingent on the extent of Israel’s attack, the officials, two of whom were from the Islamic Revolutionary Guard Corps (IRGC), claimed.
According to them, the Islamic Republic may choose not to respond if Israel reduces the scope of its strike to solely military warehouses and bases.
However, were the strike to cause major casualties and destruction, or were Israel to attack nuclear, oil, or energy infrastructure or carry out targeted eliminations, Iran would hit back, the officials noted.
Iran’s response scenarios
In such a case, Iran’s response scenario could include a potential barrage of up to 1,000 ballistic missiles, further attacks by Iranian proxies, and interference in energy supplies and shipping in the Persian Gulf.
Israel has vowed to respond to Iran’s October 1 attack, which saw the Islamic Republic fire some 180 ballistic missiles at Israel in what the IRGC said was a response to the killing of Hezbollah‘s leader Hassan Nasrallah.
Prior to October 1, Iran last attacked Israel on April 14, launching some 300 aerial threats at the Jewish State.
ISRAEL HEZBOLLAH/UNRWA
The Hezbollah operative killed last night in Beirut was a staff member of UNRWA
(Reuters)
UNRWA confirms Hamas Nukhba force commander killed in IDF strike was a staff member
By Reuters and ToI StaffToday, 12:44 am
A screenshot provided by the IDF on October 24, 2024, from an UNRWA spreadsheet, shows that Hamas terrorist Muhammad Abu Attawi is listed.
UNRWA confirms that Muhammad Abu Attawi was a staffer and killed on Wednesday, after Israel announced it had targeted him in a strike.
The IDF and Shin Bet said that Attawi, a Hamas Nukhba Force commander who led the killing and kidnapping of Israelis from a roadside bomb shelter near Kibbutz Re’im on October 7, had been employed by UNRWA since July 2022.
According to UNRWA, Attawi’s name was included in a letter the Palestinian refugee agency received from Israel in July that included a list of 100 staff members who were also allegedly members of armed groups, including Hamas.
“The UNRWA commissioner general responded to that letter immediately stating that any allegation is taken seriously. He urged (the government of Israel) to cooperate with the agency by providing more information so he could take action. To date, UNRWA has not received any response to that letter,” says Juliette Touma, UNRWA’s director of communications.
IDF Spokesman Rear Admiral Daniel Hagari says Israel “has requested urgent clarifications from senior UN officials and an urgent investigation into the involvement of UNRWA employees in the October 7 massacre.”
END
ISRAEL/LEBANON/SYRIA
Israel strikes border crossing to stop the smuggling of weapons
(Times of Israel)
Hezbollah-affiliated minister says IDF strike targeted Lebanon-Syria border crossing
By Agencies and ToI StaffToday, 11:05 am
Lebanon’s transport minister says an Israeli strike put a second border crossing between the country and Syria out of service, leaving one official passage between the two nations operational.
“The Qaa crossing has been put out of service after an Israeli strike on Syrian territory, hundreds of meters from Syrian border guards,” Hezbollah-backed Ali Hamieh says, adding that the strike blocked the passage of vehicles.
Israeli has accused Hezbollah of smuggling weapons from Syria through land crossings, however there is no comment from the IDF on this specific alleged strike.
END
HAMAS/HOSTAGES
Palestinian outlet publishes handwritten docs attributed to Sinwar with instructions for guarding hostages
By Gianluca Pacchiani FollowToday, 11:46 am
Gaza Hamas leader Yahya Sinwar in Gaza City on March 30, 2022 (Attia Muhammed/Flash90)
The Palestinian newspaper Al-Quds publishes three documents allegedly handwritten by slain Hamas leader Yahya Sinwar, in which he lays out instructions for the captors of hostages.
The first document stresses the obligation to “take care of the lives of the enemy’s prisoners and keep them safe, since they are an important bargaining chip in our hands” to free Palestinian prisoners, and includes Quranic verses on that matter.
The second document includes data on 112 unnamed hostages held in three areas: Gaza City (14), the center of the Strip (25), and Rafah (51). A fourth group of 22 hostages is listed without a location.
Hostages in each location are broken down into different categories, according to their age (above or below 60, or young), gender, and whether they were civilians or soldiers.
It also notes that one Bedouin hostage was held in Gaza City, and four in Rafah, among them a 55-year-old man (presumably Youssef Ziyadne with his three children, two of whom were released in a November ceasefire).
The third document includes a list of eleven female hostages who were released early on in the war, most of them during the week-long November truce. The eleven hostages are listed with their name, age and whether they held foreign citizenship.
It is believed that 97 of the 251 hostages abducted by Hamas on October 7 remain in Gaza, including the bodies of at least 34 confirmed dead by the IDF.
Hamas released 105 civilians during the truce in late November, and four hostages were released before that. Eight hostages have been rescued by troops alive, and the bodies of 37 hostages have also been recovered, including three mistakenly killed by the military as they tried to escape their captors.
Hamas is also holding two Israeli civilians who entered the Strip in 2014 and 2015, as well as the bodies of two IDF soldiers who were killed in 2014.
x.com/alqudsnewspaper/status/1849548198269923602
x.com/alqudsnewspaper/status/1849548198269923602
ISRAEL/HAMAS
Nukhba terrorist involved in Route 232 bomb shelter attack on Oct. 7 eliminated by IDF in Gaza
Abu Itiwi’s name was included in a list of UNRWA employees and personnel.
By JERUSALEM POST STAFFOCTOBER 24, 2024 21:27
In a joint IDF and Shin Bet (ISA) operation, the Israel Air Force (IAF) struck and eliminated the terrorist Mohammad Abu Itiwi, a Nukhba commander in the Al Bureij Battalion of Hamas’s Central Camps Brigade, the military said on Thursday.
Abu Itiwi was involved in the murder and abduction of Israeli civilians on October 7. The terrorist led the attack on the bomb shelter on Route 232 in the area of Re’im in southern Israel.
Over the course of the Israel-Hamas War, Abu Itiwi directed and carried out numerous attacks on IDF soldiers operating in the Gaza Strip, the IDF reported.
Following the incident, representatives of COGAT solicited clarifications from senior officials in the UN and international community and requested an urgent investigation into the involvement of UNRWA employees in the October 7 Massacre, the military stated.
Abu Itiwi’s name was included in a list of UNRWA employees and personnel.
END
Israel requests urgent UN investigation for UNRWA employee involvement on October 7
By JERUSALEM POST STAFFOCTOBER 25, 2024 00:09Updated: OCTOBER 25, 2024 00:14
Israel has requested urgent clarification from senior UN officials regarding UNWRA employee involvement in the October 7 Hamas attack, the IDF announced on Thursday evening.
The IDF also called for an”urgent investigation” into the UNWRA employees.
This follows the IDF’s Thursday statement that Hamas terrorist Mohammad Abu Itiwi, who commanded the attacks on October 7, was eliminated and confirmed to have been a UNRWA employee.
END
ISRAEL HEZBOLLAH/FRIDAY
IDF strikes Hezbollah manufacturing sites in Beirut
By JERUSALEM POST STAFFOCTOBER 24, 2024 10:02Updated: OCTOBER 24, 2024 10:15
The IDF struck several weapons storage and manufacturing facilities belonging to Hezbollah in the area of Beirut suburb of Dahieh, the military announced on Thursday.
The IDF said that the sites were built under and inside civilian buildings, which they say is part of Hezbollah’s systematic abuse of civilian infrastructure, endangering the civilian population in the area.
The IDF emphasized that it had taken several steps to mitigate the harm to civilians.
END
ISRAEL/HEZBOLLAH/IRAN/OPINION PIECE
a must read….
(ERIC MANDEL/TIMES OF ISRAEL)
Is Iran next? Israel’s next move after Hezbollah – opinion
Israel does not have the luxury of waiting. Iran is determined to destroy Israel. Those who doubt it are fooling themselves.
By ERIC R. MANDELOCTOBER 24, 2024 18:03
Last year, veteran Middle East negotiator Dennis Ross said that as someone who has worked on the issue of a nuclear Iran and “talked to the Israelis for a long time, the one thing I am personally convinced of is they will never allow themselves to lose the option [to preemptively strike Iran]. You don’t wait until it is one minute to midnight.”
After Iran’s unprecedented attack against Israel in April 2024 with ballistic and cruise missiles and drones, a Reuters headline read, “Iran threatens to annihilate Israel should it launch a major attack.”
The question is even more urgent in the fall of 2024, as Israel has decided to go on the offensive, dramatically increasing its kinetic actions against Iran’s most important proxy in the North. In rapid succession was the daring special forces operation in the Masyaf area of Syria, destroying an IRGC and Hezbollah precision weapons factory; the assassination of the terror group’s chief of staff Faud Shukr, who was directly related to killing US soldiers in the Beirut barracks bombing in 1983; the pager and walkie-talkie attacks targeting the Hezbollah command structure; and culminating in the assassination of Hezbollah leader Hassan Nasrallah.
By forcing Israel to empty its northern civilian communities since October 2023, Iran and Hezbollah had achieved a decisive short-term victory. This has followed the Iranian playbook – to design long wars of attrition to dishearten the Jewish nation while using Lebanese civilians and their homes as human shields to manipulate the West and isolate Israel diplomatically. The more far-reaching strategy is to encircle Israel and construct an unending multi-front war without bearing direct consequences on its nuclear, military, or economic resources on Iranian territory.
Will Israel strike Iran and will the US support them?
So, is Israel’s major offensive against Hezbollah to push them north of the Litani River, which is called for by UN Security Council Resolution 1701, the beginning, or is it the end of its strategy to deter Iran? The real questions are: How far is Israel from falling off the proverbial cliff by not having already targeted the primary source of its existential issues, a nuclear Iran? And when does it become too late to save itself?
Unfortunately, Iran has been assisted by the Biden administration’s decision not to fully enforce sanctions that were crippling its economy and its ability to support its proxy network of Hezbollah, Hamas, the Houthis, and Palestinian Islamic Jihad. According to a report in The Wall Street Journal on September 23, 2024, President Biden’s Iran envoy Robert Malley – who is under FBI investigation for allegedly mishandling secret documents – proposed right from the beginning of the Biden administration, “removing…US sanctions that related to Iran’s nuclear program,” which the Iranians “pocketed” while demanding even more far-reaching concessions.
The Iranians correctly interpreted this as weakness and desperation on the Americans’ part. According to Secretary of State Antony Blinken, Iran continued to march within “two weeks” from “producing enough fissile material for a nuclear weapon.” Although former president Donald Trump should be commended for ending a terrible deal guaranteeing an industrial-sized Iranian nuclear arsenal over time, he should have had a Plan B after withdrawing from the executive action.
Israel’s survival is directly related to the viability of the Iranian regime, its hegemonic ambitions, and its fundamental goal to annihilate the Jewish nation as a central feature of its religious mindset. What is needed but is highly unlikely to occur is a meaningful American-led economic coalition against the leading state sponsor of terror, fully enforcing sanctions. There is clear justification, as Iran is thumbing its nose at the International Atomic Energy Agency, not allowing them to certify their compliance with the Nuclear Proliferation Treaty (NPT), of which it is a signatory.
Is there any nation in the world willing to design or be part of a coalition and strategy to destabilize the Islamic regime, even if they are convinced Israel’s survival is at stake? The answer is no, and that likely includes the United States, which sees Israel as an essential security partner but considers the threats of China, North Korea, and Russia to be of much greater danger to American security.
The empty rhetoric of the Biden administration about not allowing Iran to get a nuclear weapon is transparently false, as Iran has advanced its ability to enrich enough uranium for many atomic bombs in just a few weeks. The US national director of intelligence, Avril Haines, could not affirm to Congress this summer that Iran is not weaponizing a device. Trump talks a big game, but would he have his secretary of state clearly declare it is in America’s interests to aid the Iranian people to change their fanatic government?
No discerning person believes a future Harris administration, with Secretary of State Chris Murphy or National Security Advisor Phillip Gordon, would counsel president Harris to help Israel end the Iranian nuclear program kinetically or have the courage to state that American foreign policy’s goal is to be for the Iranian people and against the regime and take actions, even non-military actions, to undermine the authoritarian government, even if it were only days from a functional atomic weapon.
Weaponization entails turning uranium gas into a metal for a nuclear warhead, enhancing the computer modeling to test a nuclear device successfully, and crafting the neutron initiators to ignite an atomic device. The Biden team, until the last quarter turn of a screw for a fully functional nuclear weapon is done, pretends to consider Iran a non-nuclear weapon state. For Israel, feigning ignorance of how far the Iranian nuclear project has progressed is not an option.
So, Israel has a choice, knowing that as long as the Supreme Leader and his henchmen, the Iranian Republican Guards, are in power, their unbending goal is to destroy Israel and kill as many Jews as possible. Will Israel accept the inevitable, a nuclear Iran?
The alternative is to hope that a defensive missile shield protects Israel and that a few nuclear-tipped ballistic missiles among thousands of conventional missiles in an overwhelming Iranian missile barrage will not evade the passive defense. Israel’s multi-layered missile shield, even in conjunction with America’s, could still fail to intercept at least 5% of the missiles. Does Israel want to play this Russian roulette with the jihadists in Tehran? It should be noted that the Biden administration should be commended for increasing American aid by $5.2 billion to the Iron Beam, Iron Dome, and David Sling anti-missile system this fall.
If Israel decides Iran is the head of the octopus that must be directly confronted, it could bring on a devastating war; but waiting for American help, which is unlikely ever to come, would increase the risk that Iran can fulfill its dream of killing seven million Jews, more than in the Holocaust, with a couple of million Palestinian Arabs as collateral damage.
A recent article in The Jerusalem Post highlighted two contradictory opinions. Maj-Gen. (res.) Itzhak Brik was “adamant that war with Iran now would lead to Israel’s destruction. Security expert Yair Ansbacher was convinced that war with Iran at this point is a must – to avoid Israel’s destruction. Brik warned, Iran is backed by Russia, China, and North Korea, and the US will avoid getting involved in a war that could develop into a world war. He advised building a strategic alliance with Western and moderate Arab nations that will form a deterrence balance against Iran and its partners. Trying to thwart the Islamic Republic’s nuclear capacity is futile. Ansbacher said the time is right to strike Iran before it makes its final nuclear breakthrough. If today the West has little success in taming the ayatollahs, it will have zero success when they obtain atomic weapons. Iran will provide a nuclear umbrella to terrorists across the globe.
If Israel decides to go it alone, the targets to destabilize the Iranian economy are the same as if America joined in, whether by cyber or military attacks. This includes the container port in Bandar Abbas, where 90% of the container shipments transit; the primary fossil fuel port on Kharg Island that supplies China with cheap oil; Iran’s drone and missile sites and production facilities; and most consequentially, its nuclear enrichment facilities, deeply embedded within mountains; and its clandestine weaponization sites.
There is little chance that an American administration will overtly help Israel. The best hope is behind-the-scenes intelligence allowing the US to claim plausible deniability. The more likely scenario is the United States slowing its supply lines as the Biden administration did in Israel’s war with Hamas, slow-tracking licenses for weapons and deliveries during Israel’s Gaza war.
Will the world be a better place if the Iranian people overthrow the current Islamic revolutionary regime in Tehran? In a word, yes, even considering the unknown risk of the law of unintended consequences. Suppose the US wants stability in the Middle East to turn to the more significant threat of an ascendant and belligerent China. In that case, the best path is to undermine and weaken the malign anti-American regime as soon as possible.
But is Iran a threat to America? Yes.
“The US intelligence community has assessed that Iran will threaten Americans – both directly and via proxy attacks – and that Tehran remains committed to developing networks inside the US,” according to the intelligence community’s 2022 Annual Threat Assessment, published by the Office of the Director of National Intelligence.
Iran has also placed death contracts on American government officials. On September 24, Blinken said, “we are intensely tracking” an ongoing threat by Iran against current and former US officials. “This is something we’ve been tracking very intensely for a long time, an ongoing threat by Iran against a number of senior officials, including former government officials.”
According to Josef Joffe, Distinguished Fellow at Stanford’s Hoover Institute, “The real problem is Tehran…America’s mightiest enemy in the Greater Middle East…The playbook is easy to read. Hit Israel, Washington’s only reliable ally, and wound the American giant it dares not take on directly. So, demoralize him to kick him off the Mideast chessboard.”
Israel does not have the luxury of waiting. Iran is determined to destroy Israel. Those who doubt it are fooling themselves. Iranian-directed wars of attrition over the years will demoralize the Jewish state, and Iran is betting on the fecklessness of the international community that doesn’t care about the survival of the Jewish state and would be more than happy to continue trading with Iran, even if it sent a nuclear device toward Tel Aviv.
America, based on its value-based foreign policy, its national security interests, and as a message to allies around the world that it supports its friends even when there are difficult choices, needs to stand firmly with Israel against Iran and stand with the Iranian people who yearn for freedom and a new government – and Iran’s return to the family of nations. ■
The writer is director of MEPIN, the Middle East Political Network, and has been briefing members of Congress and their foreign policy aides for more than 25 years.
ISRAEL/HEZBOLLAH
Brilliant: two victims in Hezbollah rocket attack are Israeli Arabs
Two victims of rocket in Majd al-Krum are Hassan Suad, 21, and Arjwan Manaa, 19
The two people killed in the rocket strike in Majd al-Krum have been identified as Hassan Suad, 21, and Arjwan Manaa, 19.
END
TURKEY/SYRIA/USA/RUSSIA
Turkey Bombs US Proxies In Northeast Syria Following Ankara Terror Attack
Friday, Oct 25, 2024 – 02:00 AM
Turkey conducted several airstrikes and artillery shelling across US-controlled north and east Syria late on Wednesday, targeting positions held by the Kurdish Syrian Democratic Forces (SDF).
The attacks targeted several villages and sites in the Syrian provinces of Aleppo, Raqqa, and Hasakah. One of the attacks hit an SDF military outpost in the countryside of the city of Al-Malikiyah, at the Syrian–Turkish–Iraqi tri-border region. Turkish artillery also hit SDF sites in the village of Umm al-Kaif in the countryside of the town of Tal Tamr, northwest of Hasakah.
According to field sources who spoke with Sputnik, Turkish artillery shelling hit the villages of Al-Sayyada, Aoun Al-Dadat, Al-Tukhar, and Al-Daraj.
On Thursday, the UK-based Syrian Observatory for Human Rights (SOHR) reported that the attacks killed at least “27 members of military formations operating in SDF-controlled areas,” three soldiers from the Syrian Arab Army (SAA), and at least four civilians.
For its part, Turkiye’s Ministry of National Defense said 32 targets in Syria and Iraq were “destroyed” in the aerial offensive without providing details on the locations that were hit. Officials added that “all kinds of precautions” were taken to prevent harm to civilians.
The intense attacks were launched hours after armed assailants set off explosives and opened fire at the headquarters of the Turkish Aerospace Industries (TUSAS) in Ankara, which designs, manufactures, and assembles civilian and military aircraft, unmanned aerial vehicles (UAVs), and other defense industry and space systems.
Turkish Interior Minister Ali Yerlikaya and Defense Minister Yasar Guler accused the Kurdistan Workers’ Party (PKK) of being behind the attack.
“We give these PKK scoundrels the punishment they deserve every time. But they never come to their senses,” Guler said. “We will pursue them until the last terrorist is eliminated.”
At least five people were killed and 22 injured in the Ankara attack. Two attackers – a man and a woman – were also killed.
Turkey regularly conducts air strikes against the PKK in Iraq and against the SDF in Syria. In 2014, the US military began partnering with the Kurdish People’s Protection Units (YPG), an offshoot of the PKK. The YPG later changed its name to the SDF.
Together, the US and its Kurdish proxies occupy Syria’s northeast, including Hasakah, Raqqa, and parts of Deir Ezzor, denying Syria access to its oil resources and wheat-producing agricultural land.
Wednesday’s attack in Ankara came as Turkish President Recep Tayyip Erdogan was in the Russian city of Kazan to attend the annual BRICS summit. He condemned the “hateful attack” alongside Russian President Vladimir Putin.
UKRAINE/RUSSIA/USA
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUE
Stanford Doc Hailed As ‘Intellectual Freedom’ Leader For Challenging Gov’t On COVID-19
by Tyler Durden
Friday, Oct 25, 2024 – 11:30 AM
Authored by James Samuel via The College Fix,
Dr. Jay Bhattacharya received the American Academy of Sciences and Letters’ top intellectual freedom award on Wednesday for resisting attempts to politically control his scientific work during the COVID-19 pandemic.
The academy presents its annual Robert J. Zimmer Medal for Intellectual Freedom to a scholar “who displays extraordinary courage in the exercise of intellectual freedom,” according to its website.
Bhattacharya, a professor of medicine at Stanford University, received the honor during the academy’s annual investiture ceremony at the Library of Congress in Washington D.C. Afterward, he joined Princeton University Professor Stephen Macedo for an interview on stage.
Macedo began by asking about the first time Bhattacharya pushed back against the government’s handling of the pandemic.
“I wasn’t prepared for it,” Bhattacharya said.
“I had never published an op-ed. I had never been on TV. I was a quiet scholar, and I had this idea regarding the pandemic that the disease was more widespread than people realized,” he said.
Then, after he wrote an op-ed about it, he “got death threats.” Bhattacharya said attacks came from Stanford as well.
“The university, which I loved, … investigated me for false allegations … that they knew were false,” he said.
“I got sent a very clear signal that I needed to stay quiet.”
“I lost sleep, I couldn’t eat,” he said. “But I decided that I didn’t care about my career anymore and I needed to say what I saw.”
Dr. Jay Bhattacharya
“These policies that we were following were going to harm a lot of poor people … and there were better policies possible,” Bhattacharya said.
In 2020, he co-authored the Great Barrington Declaration, an open letter to government officials and public health authorities challenging mandatory lockdowns and other decisions about the pandemic.
Bhattacharya said it was “the least original thing” he ever wrote, and Macedo pointed out that his recommendations had “been anticipated in many pandemic plans before COVID.”
Bhattacharya contrasted the government’s COVID-19 response with that of the Hong Kong flu in 1968, joking that “the United States addressed it by having Woodstock.”
“The idea that disrupting normal social life is in itself bad for health, I thought was a commonplace in public health,” he said.
Next, Macedo asked why government leaders across the world adopted oppressive measures similar to China’s to try to “stop the spread of a respiratory virus.”
Bhattacharya responded, “I think it’s complicated, but … the central thing is fear. I think public health authorities were scared of this new disease, and they decided that scaring people was also a good policy.
Modern technology also played a part — “that would have been unthinkable before,” he said.
Macedo pointed out that, at the time, Bhattacharya was viewed as “a dissenter from mainstream policy,” but many others “were sympathetic to [his] view but did not feel able to speak up.”
Bhattacharya replied, “I think people were very, very scared, both about their own physical safety, but also, they’re scared for their own careers,” a fear that he shared.
Bhattacharya also touched on his participation in a lawsuit accusing the Biden administration of secretly telling social media companies to censor speech that ran against its COVID-19 policies.
“In 2022, when Elon Musk bought Twitter, it turns out that I had been placed on a blacklist the day I joined Twitter because I put the Great Barrington Declaration on there,” he said.
“That was not an accident. Twitter didn’t do that on its own. There was a systematic campaign by the federal bureaucracy, including the CDC, the surgeon general’s office,” he said.
“All of these federal agencies essentially pressured Twitter and other social media to silence voices … that were contrary to pandemic policy put forward by the administration,” Bhattacharya said. “The American First Amendment didn’t hold during the pandemic. We did not have free speech.”
The case is pending in a court, and Bhattacharya expressed hope they will win “eventually.”
“The government going to Twitter or to Facebook and saying ‘Silence Jay or silence people like Jay who are saying these kinds of things,’ where I’m not told I’m being silenced, I don’t get to tell the government to go take a hike … that’s a violation of the First Amendment,” he said.
Macedo asked about the increasing “emphasis on paternalism in public health,” and the idea that “the public doesn’t really understand the science, so they need to be guided rather than told the truth.”
Bhattacharya responded: “If I go around and say smoking is good for you … I’ve done something deeply harmful to the public … but the ethical basis for that is that there really is an honest scientific consensus that smoking is terrible for you.”
However, in the case of the COVID-19 pandemic, Bhattacharya said there was no scientific consensus.
“What we needed was everyone speaking up and saying what they saw, so there was no ethical basis for the normal public health angle to say, ‘Look, you just need to fall in line and say what everybody else says,’” Bhattacharya said.
Macedo concluded by asking about a Stanford conference on COVID policy earlier this fall that Bhattacharya organized, and if it signaled “a period of remorse and contrition” for the university.
“I do actually see some reason for optimism,” Bhattacharya said, adding that Stanford’s president did not take sides.
“What he said was, ‘We have an obligation to be the kind of place where these kinds of conversations happen,’” he said. “What we do as universities is provide the platform where people of good faith can come together and talk to each other. That’s what we’ve forgotten about, and that leads to great things.”
Bhattacharya is the second recipient of the academy’s Zimmer Medal.
The inaugural recipient in 2023 was Sir Salman Rushdie, an author who criticized the Quran in his 1988 book “The Satanic Verses,” and has faced several attempts on his life for it. He was chosen for the award for his adversity and “refusal to be silenced,” according to the academy’s website.
On Wednesday, the academy also honored ten professors with Barry Prizes for Distinguished Intellectual Achievement.
The recipients were Akhil Reed Amar and Nicholas Christakis from Yale; Henry Louis Gates, Karin Öberg, and Jeannie Suk Gersen from Harvard; William Chester Jordan from Princeton; Marianne Bertrand from University of Chicago; Brian Conrad from Stanford; Megan Sykes from Columbia; and Gary Anderson from Notre Dame.
2024 American Academy of Sciences and Letters inductees and award winners
The Barry Prize “honors those whose work has made outstanding contributions to humanity’s knowledge, appreciation, and cultivation of the good, the true, and the beautiful,” according to the academy. The winners also received a $50,000 cash prize.
More than 50 new members also were inducted into the academy on Wednesday.
Salvatore Torquato, a professor of natural sciences at Princeton and a new inductee, told The College Fix that organizations with missions like the Academy of Sciences and Letters’ are “sorely needed.”
Along with supporting academic freedom, the academy works to support “intellectual rigor” and “the fundamental and constitutive mission of colleges and universities as truth-seeking, knowledge advancing institutions,” according to its website.
The ceremony included a performance from Howard University’s Gospel Choir.
GLOBAL ISSUES
MARK CRISPIN MILLER
DR PAUL ALEXANDER
The Pfizer Papers by Dr. Naomi Wolf’ (& Daily Clout): Pfizer’s Crimes Against Humanity by The WarRoom/DailyClout Pfizer Documents Analysts; exceptional compilation & Wolf again steps up!! Please
consider the book on Amazon, see link below! Naomi Wolf again puts key information in a digestible manner and locatable manner for historical & legal purposes; it is your LIBRARY, a serious resource!
| Dr. Paul AlexanderOct 24 |
Link to purchase this stunning treatise (Dr. Wolf with me and McCullough and Risch and Thorpe and Pinsky and Victory provide support to The Wellness Company, TWC.health):
The Pfizer Papers: Pfizer’s Crimes Against Humanity: 9781648210372: Medicine & Health Science Books Amazon.com
Steve Bannon, someone I know and someone I consider a real soldier and patriot, has given a foreword. Bannon is someone IMO wrongfully imprisoned as was Navarro and this was purely political. Bob Markey sang, ‘the rain does not fall on one man’s house’ and in the islands where I came from, we have another, ‘today for me, tomorrow for you’…it is my hope that the left can stomach to see its own soldiers in prison for it is coming. Do you not think that our god is a just God? I think he is. He equates things like the law of physics, which is the law of life, in that ‘all things must be equal’. Put a pin in that.
I have known Dr. Wolf for 4 serious years now and our friendship has matured and deepened whereby I grew to know absolutely how sincere and concerned she was as to the devastation of the COVID response and the ensuing mRNA vaccine. Especially the damage to women, young girls, and babies in utero, children. Dr. Wolf has shown me that she is different from the COVID Freedom Fighters in that she gave up lots, she lost lots personally, as part of her career, and revealed a deep concern for those harmed by the COVID OWS response. Many sought rewards, Dr. Wolf did not. She has struggled to operate within an arena fraught with personal attacks and unstable attacks and invectives even against her, yet has stood strong and with resolve. And her contributions I have seen has caused pause, reflection, and has saved lives.
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Trump MUST close Northern Canadian border too UNTIL crossing by terrorists are dealt with! Not only Southern border as 80% of terrorists stopped at US borders came via Canadian borders; 100% had valid
Canadian residency or Canadian passports! Do you understand what Trudeau was and has done? When he met with Obama was to set this up; he Trudeau took in the terrorists who COULD NOT get into US via US
| Dr. Paul AlexanderOct 24 |
The Northern border with Canada is as much a problem as the Southern border as to hard core terrorists trying to slip into USA to harm Americans, and the Canadian government (Trudeau et al.) made it easy for terrorists to enter Canada and get legal papers. Once you have legal papers in Canada you can enter the US. 90% to all terrorists caught at Northern Canadian border trying to enter USA have legal Canadian papers.
Think about that.
How come?
They applied for Canadian legal papers as were sponsored via family class and it is easier in Canada and fast, real fast, and then Canada was the stepping stone for with valid Canada papers you can easily go back and forth into USA and vice versa…so the terrorists head to Canada to get in legally then enter US…I saw it with my own eyes as one terrorist was in a car ahead of mine at the Niagara falls border and they caught him, took him out of the car as he left Canada to enter the US…it was amazing how they acted and fast…but near 80% of terrorists entering US now are via Canada…
end
SLAY NEWS
| Renowned Cardiologist Raises Alarm over 1,236% Surge in Excess Heart Deaths Among Covid-VaxxedDr. Peter McCullough, a world-renowned cardiologist and epidemiologist, has raised the alarm after a bombshell peer-reviewed study found a staggering 1,236% surge in excess cardiac arrest deaths among people who received Covid mRNA vaccines.READ MORE |
| WHO Demands Crackdown on ‘Deadly’ Free Speech to ‘Prevent the Spread of Harmful Lies’The unelected globalist head of the World Health Organization (WHO) has renewed demands for governments to urgently crack down on the free speech rights of their citizens.READ MORE |
| UFC Stars Urge Fellow Arab-American Voters in Michigan to Back TrumpSeveral Arab-American UFC stars are throwing their support behind President Donald Trump for the critical 2024 presidential election.READ MORE |
| Kamala Harris Unable to Name a Single ‘Major’ Legislative ‘Policy Goal’ for PresidencyIn another humiliating blow to the Democrats’ hopes of retaining the White House, Vice President Kamala Harris failed to answer basic questions about her plans for the White House if she’s elected on November 5.READ MORE |
| LA Times’ Billionaire Owner Blocks Newspaper’s Endorsement of Kamala HarrisThe Los Angeles Times is known for its historic tradition of endorsing political candidates.READ MORE |
| Kamala Harris Snubs Historically Black Howard University as Democrats Panic About MidwestDemocrat presidential candidate Kamala Harris skipped the centennial homecoming ceremony at the historically black Howard University.READ MORE |
| Geraldo Rivera Blasts Americans Who ‘Selfishly’ Vote for TrumpIn a rant on national television, former Fox News host Geraldo Rivera blasted Americans who are planning to vote for President Donald Trump on November 5.READ MORE |
| Video Shows Democrat Operative Tampering with Ballot BoxA video has emerged online that appears to show a Democrat operative attempting to rip a ballot drop box from a wall in Montana.READ MORE |
| Kamala Harris Refused to Prosecute Voter Fraud Case Involving Chinese Communist Party SpyWhile serving as California’s attorney general, Vice President Kamala Harris refused to investigate and prosecute an election fraud case involving a suspected Chinese Communist Party spy.READ MORE |
| CNN ‘Fact-Checker’ Debunks Tim Walz, Says Claims About Trump’s Economy Are ‘Not True’A CNN “fact-checker” has debunked claims from Democrat vice presidential nominee Tim Walz that President Donald Trump oversaw a downturn in American manufacturing jobs.READ MORE |
| Obama Doesn’t ‘Understand How’ Americans ‘Got So Toxic’ and ‘Divided’Barack Obama has accused the American people of becoming “toxic and just so divided and so bitter.”READ MORE |
| Bill Gates Donates $50 Million to Kamala Harris, Warns He’s ‘Concerned’ About Trump: ‘This Election Is Different’Microsoft co-founder Bill Gates has donated a whopping $50 million to Democrat presidential nominee Kamala Harris’s campaign.READ MORE |
| Jimmy Kimmel Tells Joe Scarborough Every ‘Reasonable Person’ Has ‘Trump Derangement Syndrome’Late-night TV star Jimmy Kimmel has told MSNBC’s Joe Scarborough that every “reasonable person” should be overwhelmed with hate and irrational rage because of President Donald Trump.READ MORE |
NEWS ADDICTS
| WHO Demands ‘Anti-Vaxxers’ Jailed Before ‘Next Pandemic’The World Health Organization (WHO) is calling on governments and law enforcement around the world to begin jailing “anti-vaxxers” to stop the spread of “disinformation” before the “next pandemic” is rolled out globally.READ THE FULL REPORT |
| Corrupt DOJ warns Elon Musk his million dollar giveaway could be ILLEGALThe corrupt Biden-Harris DOJ has sent a letter to Elon Musk warning him that his million dollar giveaway could be illegal.READ THE FULL REPORT |
| Watch: Democrat Operative Caught Tampering with Ballot BoxVideo obtained by Fox News shows a Democrat operative tampering with an election ballot drop box in Montana, appearing to try tearing the box off the wall.READ THE FULL REPORT |
| Another Midwestern Town Inundated with Haitian MigrantsResidents from another midwestern town, this time in Indiana, say city resources are being strained and their children put last due to a sudden influx of migrants from Haiti.READ THE FULL REPORT |
| Michael Cohen’s Lawsuit Against Trump ImplodesThe Second Circuit Court of Appeals dealt a significant blow to Michael Cohen on Tuesday, denying his bid to revive claims that former President Donald Trump misused his presidential powers to re-incarcerate the former attorney in a retaliatory move aimed at stopping him from promoting his tell-all book.READ THE FULL REPORT |
| LATEST REPORTS FOR NEWS JUNKIESBLM’s Tens of Millions in Donations Has Mysteriously VanishedBlack Lives Matter Global Network Foundation is running out of cash and nearing its end “unless something changes dramatically,” according to a new report.READ THE FULL REPORTThe woman slapped by Doug Emhoff comes FORWARD and tells her side of the story and it’s even worse than we thoughtThe ex-girlfriend of Doug Emhoff, who he dated before he met Kamala and married her, has come forward to tell the Daily Mail about how Emhoff slapped her in France after he thought she’d been flirting with a valet. She details lots more about him too, including how he explained that he cheated on his now-ex wife with his daughter’s …READ THE FULL REPORTCNN Panel Roasts Harris for Failing to Set Out Her Vision After Pa. Town Hall: ‘Word Salad City’Vice President Kamala Harris’ performance at CNN’s Wednesday town hall with Pennsylvania swing voters underwhelmed the network’s journalists and pundits — as she left the more than hourlong forum with verbose and evasive answers to queries posed by on-the-fence residents. “What I’m hearing from people who I’ve been talking to … if her goal was to close the deal, they’re …READ THE FULL REPORTWATCH: CNN heavyweights DESTROY Kamala’s performance in her town hall last nightKamala’s town hall was a disaster last night as she exposed how she is not a serious candidate because she can’t even answer basic questions. For example, she went to word salad city when she was asked why she hasn’t done any of what she’s proposing already since she’s been in the White House for the last four years: CNN: …READ THE FULL REPORTMainstream Media’s New Trump Hit Piece Immediately Falls Apart When Source Steps ForwardThere are generally two types of “October Surprises.” There are the sorts of nasty political surprises that can actually hit a campaign right on the head. You can usually identify these by the response — or lack thereof — to the surprise. And then, there are the, pun very much intended, trumped up surprises that are so heinously manufactured, the …READ THE FULL REPORT |
EVOL NEWS
| LATEST NEWS: |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
BRICS MEETING
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0825 UP 0.0001
USA/ YEN 151.97 UP 0.223 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 1.2985 UP .0013
USA/CAN DOLLAR: 1.3848 DOWN 0.0005 (CDN DOLLAR UP 5 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 19.44 PTS OR 0.59%
Hang Seng CLOSED UP 100.53 PTS OR 0.49%
AUSTRALIA CLOSED UP 0.16%
// EUROPEAN BOURSE: ALL MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 100.53 PTS OR 0.49%
/SHANGHAI CLOSED UP 19.44 PTS OR 0.59%
AUSTRALIA BOURSE CLOSED UP .16%
(Nikkei (Japan) CLOSED DOWN 227.37 POINTS OR 0.60%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2725.00
silver:$33.30
USA dollar index early FRIDAY morning: 103.92 DOWN 0 BASIS POINTS FROM THURSDAY’s CLOSE.
FRIDAY MORNING NUMBERS ENDS
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And now your closing FRIDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 2.721% UP 3 in basis point(s) yield
JAPANESE BOND YIELD: +0.942% DOWN 0 AND 3/ 10 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 2.980 UP 3 in basis points yield
ITALIAN 10 YR BOND YIELD 3.493 UP 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.2875 UP 3 BASIS PTS
END
IMPORTANT CURRENCY CLOSES : FRIDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0832 UP .0008 OR 8 basis points
USA/Japan: 152.10 UP .311 OR YEN IS DOWN 31 BASIS PTS//
Great Britain 10 YR RATE 4.273 DOWN 2 BASIS POINTS //
Canadian dollar DOWN .0005 OR 5 BASIS pts to 1.3857
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The USA/Yuan, CNY ON SHORE CLOSED DOWN 7.1239 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.1334)
TURKISH LIRA: 34.29 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +0.942
Your closing 10 yr US bond yield DOWN 0 in basis points from THURSDAY at 4.201% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.465 DOWN 0 in basis points /11:00 AM
USA 2 YR BOND YIELD: 4.042 DOWN 3 BASIS PTS.
GOLD AT 11;00 AM 2732.65
SILVER AT 11;00: 33.74
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 11:00 AM//
London: CLOSED DOWN 20.54 PTS OR 0.25%
German Dax : CLOSED UP 20.59 OR 0.11%
Paris CAC CLOSED UP 5.74 PTS OR 0.08%
Spain IBEX CLOSED DOWN 27.30 OR 0.23%
Italian MIB: CLOSED UP 77,29 OR 0.276%
WTI Oil price 71.86 12 EST/
Brent Oil: 76,05 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 96.80 ROUBLE DOWN 0 AND 55/100
GERMAN 10 YR BOND YIELD; +2.2875 UP 3 BASIS PTS.
UK 10 YR YIELD: 4.273 DOWN 2 BASIS POINTS
CDN 10 YEAR RATE: 3.251 DOWN 3 BASIS PTS.
CDN 5 YEAR RATE: 3.019 DOWN 2
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0798 DOWN 0.0025 OR 25 BASIS POINTS
British Pound: 1.2965 UP 0.0007 OR 7 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.2810 UP 5 BASIS PTS//
JAPAN 10 YR YIELD: 0.934
USA dollar vs Japanese Yen: 152.36 DOWN .571 BASIS PTS// HEADING FOR 160 TO THE DOLLAR
USA dollar vs Canadian dollar: 1.3884 UP 0.0038 CDN dollar DOWN 38 BASIS PTS
West Texas intermediate oil: 7.186
Brent OIL: 76.05
USA 10 yr bond yield UP 4 BASIS pts to 4,246
USA 30 yr bond yield UP 4 BASIS PTS to 4.508%
USA 2 YR BOND: UP 4 PTS AT 4.107
CDN 10 YR RATE 3.296 UP 3 BASIS PTS
CDN 5 YEAR RATE: 3.061 UP 3 BASIS PTS
USA dollar index: 103.97 DOWN 36 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 34.29 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 97.25 DOWN 1 AND 00/100 roubles
GOLD 2,741.60 3:30 PM
SILVER: 33.65 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 259.96 PTS OR 0.61%
NASDAQ UP 119.14 PTS OR 0.59%
VOLATILITY INDEX: 20.04 UP .96 PTS OR 5.03%
GLD: $253.32 UP 0.52 OR 0.20%
SLV/ $30.63 DOWN .06 OR 0.20%
TORONTO STOCK INDEX// TSX INDEX:DOWN 82.96 PTS OR .34%
end
USA AFFAIRS
USA TRADING TODAY IN GRAPH FORM
Stocks Break Six-Week Win-Streak, Gold Hits Record High As ‘Trump Trade’ Takes Off
by Tyler Durden
Friday, Oct 25, 2024 – 04:00 PM
The theme for the week was the good (macro outperformance), the bad (dovish rate-cut expectations plunging), and the ugly (Kamala Harris victory expectations gagged as markets bet on Trump).
The ‘good’ news this was that macro data continued to outperform expectations…
Source: Bloomberg
…raising ever more doubts about the pace of The Fed’s new easing cycle as rate-cut expectations tumbled this week – especially for 2025 (because that’s when Trump will be in office, so why would we cut rates for him?)…
Source: Bloomberg
“if that’s all true, maybe they’re not data-dependent.”
“I do not want to be the person accusing them of politics … but when you don’t have a theory of the case and you don’t follow it, it is easy to get that accusation and it is harder … to defend them.“
And the ugly theme (for some) was the Trump-Trade taking off in stocks and prediction markets (as well as bonds, bullion, and bitcoin)…
Source: Bloomberg
While ‘Trump Trade’ stock baskets outperformed, the broad market was lower (especially The Dow and Small Caps). Nasdaq had an epic gamma squeeze today which lifted it into the green for the week (but gave most of that back by the close). The S&P 500 closed down around 1% on the week, ending a six-week win-streak…
Mega-Cap tech had a wild week with the Mag7 basket whipsawing down hard and then a big squeeze higher thanks to NVDA and TSLA…
Source: Bloomberg
TSLA ended the week up over 20% to its highest weekly close since Sept 2023…
NVDA refuses to stop going up – up 5 straight weeks to a new record high today…
Nvidia briefly surpassed Apple as the world’s most valuable company on Friday with a $3.53 trillion valuation…
Source: Bloomberg
VIX had a wild ride this week too, ending back above 20…
Source: Bloomberg
Bonds were a bloodbath this week with the belly of the curve underperforming bigly…
Source: Bloomberg
Notice that today saw yields spike notably after WaPo refused to endorse Kamala…
Source: Bloomberg
The dollar rallied for the 4th straight week to its highest weekly close since June…
Source: Bloomberg
Gold rallied for the 6th week in the last 7, hitting a new intraday record high during the week…
Source: Bloomberg
Bitcoin ended the week lower thanks to a big puke today as Tether headlines (and the tech wreck) weighed on the whole crypto ecosystem…
Source: Bloomberg
Crude prices were higher this week (but chopped around in a narrow band – WTI between $70 and $72)…
Source: Bloomberg
Finally, is the ultimate hedge trade on the USA (US CDS) signaling a “sweep”…
Source: Bloomberg
Gridlock – good; Red or Blue Sweep – bad!
Secure your wealth against inflation with JM Bullion.
MORNING TRADING/
AFTERNOON TRADING///
II USA DATA
US Durable Goods Orders Revised Lower… Again!
Friday, Oct 25, 2024 – 08:39 AM
Preliminary data for October shows that headline US durable goods orders fell 0.8% MoM (slightly better than the -1.0% MoM expected), leaving orders down 2.9% YoY…
Source: Bloomberg
Core orders (ex-Transportation) rose 0-.4% MoM (-0.1% exp)
Orders placed with US factories for business equipment declined in preliminary October data and the prior month’s gain was revised lower, suggesting firms are more guarded about investment.
Source: Bloomberg
However, for the 6th month in the last seven, durable goods orders were revised lower (August revised from 0.0% MoM to -0.8% MoM!)…
Source: Bloomberg
How is The Fed – or anyone – supposed to make ‘decisions’ when the data is revised so aggressively and consistently?
end
III USA ECONOMIC NEWS
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 25, 2024 Issue 7356 | Independent View of the News |
| China PBOC Injects Net CNY 666.3B via Monetary Tools – BBG (highest since July 16) PBOC injects 798.9b yuan with reverse repo; total maturity amounts to 132b yuan today Net injection of open market operation is 666.3b yuan (to offset tax period peak) China bond futures rallied sharply after the PBoC injection. USZs rallied in concert. China Stocks Slide after IMF Downgrade… – BBG 3:40 ET The IMF lowered its projection for China’s GDP growth to 4.8% from 5.0%, citing concerns over potential price corrections in the real estate sector and the potential strain on public finances from government stimulus measures… https://www.tradingview.com/news/mtnewswires.com:20241024:G2427546:0-china-stocks-slide-after-imf-downgrade-china-national-medicines-down-6/ US weekly jobless claims fall; continuing claims hit highest level in three years Weekly jobless claims drop 15,000 to 227,000 Continuing claims rise 28,000 to 1.897 million http://reut.rs/40jdexM NYT: Trump Flirts with Ultimate Tax Cut: No Income Taxes at All (rely on tariffs) https://www.nytimes.com/2024/10/24/us/politics/donald-trump-tax-policy.html NY Fed says banks obscuring commercial real estate risks by extending loan terms “Banks ‘extended-and-pretended’ their impaired CRE mortgages in the post-pandemic period to avoid writing off their capital, leading to credit misallocation and a buildup of financial fragility,” the study’s authors wrote, adding problems associated with this lending could arise quickly… https://t.co/eOAKWXjQUG “Maybe They’re Not Data-Dependent…” – Former Governor (Kevin Warsh) Questions Fed’s ‘Independence’ – “About a year ago, they said the best measure of inflation is now – they created a new category they called ‘Core Services Ex Housing’… well that’s in the 4% range now…”.. “So, all of this is to say that The Fed doesn’t seem to have a serious theory of inflation that’s theoretical and empirical... It’s not obvious they acknowledge what their role is in prices, instead claiming it has something to do with wars and pandemics.”… “In a world this dangerous, with fiscal policy so irresponsible, the central bank needs to be very clear about its reaction function, be clear about its goals , and not look like its lurching… because that’s what put us in the mess we have.”… https://www.zerohedge.com/markets/maybe-theyre-not-data-dependent-former-governor-questions-feds-independence ESZs traded modestly higher but sideways from the Nikkei opening until they jumped on the PBoC’s monetary injection. After a 23-handle pop, ESZs traded sideways again until they soared after the 3 ET European opening. ESZs hit 5866.75 at 4:23 ET and then traded sideways again, but this time with a slight upward bias. ESZs hit the daily high of 5870.00 at 8:28 ET. After a slow rollover, they plunged. ESZs eventually hit the daily low of 5822.50 at 12:12 ET. ESZs worked their way to 5853.00 at 13:43 ET and rolled over. They quickly settled into range trading again. ESZs broke higher near 15:30 ET. ESZs only rallied to 5856.25 at 15:31 ET and then rolled over modestly. ESZs eased lower into the close. @zerohedge: Why hedge funds are getting crushed today: Tesla is the largest short position among hedge funds Positive aspects of previous session USZs rallied as much as 26/32 on technical buying and the PBoC injection of funds. Tesla soared as much as 23% on a massive short squeeze! The S&P 500 Index broke a 3-day losing streak Negative aspects of previous session Stocks declined sharply; Fangs cratered; bonds declined moderately. MCD tumbled as much as 7.6%. Ambiguous aspects of previous session Is there an election effect still available for equities? 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]: 5804.19 Previous session S&P 500 Index High/Low: 5817.80; 5784.92 Trump says he’d be open to pardoning Hunter Biden: ‘I wouldn’t take it off the books’ https://trib.al/TGjNwdP Trump camp says Dem rhetoric ‘directly to blame’ for past assassination attempts https://www.foxnews.com/politics/trump-camp-says-dem-rhetoric-directly-blame-past-assassination-attempts @TrumpWarRoom: Tim Walz tells college students the disgusting lie that President Trump will round them up using the military: “I’m on the top of his list, but don’t kid yourself, you’re somewhere on that list, too.” He’s so desperate. https://x.com/TrumpWarRoom/status/1849507825455640650 NY Post cover: Land of the Free Lunch – U.S spent $150 billion on migrants last year – and it’s taking money from everything else https://nypost.com/cover/october-24-2024/ https://nypost.com/2024/10/23/us-news/migrant-crisis-cost-150bn-in-2023-local-towns-cutting-costs-to-cope/ @joma_gc: An internal struggle is taking place inside the Washington Post between leftist staffers demanding the publication endorse Kamala Harris ASAP and owner Jeff Bezos, who is almost certain that Trump will win and does not want to alienate him. @Heminator: Obama campaigned as moderate in ’08 and then proceeded to do several radical, hard-left things that had little public support such as ARRA, Obamacare, Iran deal etc. When people opposed this on principle — 2010 was the worst defeat for a major party since WWII — Obama’s defenders called everyone racist. That was the rhetoric that divided the country. They couldn’t accept Obama had ideology-driven policies the people genuinely didn’t want. Fed Balance Sheet: -$9.876B with Loans -$7.307B; Reserves at Fed: +$20.268B Today – Stocks struggled on Thursday despite the strong bond market rally and Tesla surge. Yesterday, the S&P 500 Index broke a consecutive three-day decline. With the bulk of Fang results arriving next week, traders will play for the Friday Rally and expected great Fang results in coming days. ESZs +0.50; NQZs are +2.50; and USZs are +1/32 at 20:10 ET. (Trading is dead on Thursday night.) Expected econ data and events: Sept Durable Goods -1.0% m/m, Ex-Trans -0.1%, Nondef Ex-Air 0.1%, Shipments 0.0%; Oct UM Sentiment 69.1, 1-year Inflation 2.9%, 5-10-year Inflation 3.0%; Boston Fed Pres Collins 11:00 ET Expected impact earnings: AON 2.45, HCA 4.96, CL .88 S&P Index 50-day MA: 5670; 100-day MA: 5561; 150-day MA: 5434; 200-day MA: 5323 DJIA 50-day MA: 41,728; 100-day MA: 40,621; 150-day MA: 40,034; 200-day MA: 39,648 (Green is positive slope; Red is negative slope) S&P 500 Index (5809.86 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 is positive; MACD is negative – a close below 5788.27 triggers a sell signal Hourly: Trender is negative; MACD is positive – a close above 5826.19 triggers a buy signal Doug Emhoff accuser breaks her silence: Kamala Harris’ husband Doug Emhoff slapped me in the face so hard I spun around … I’m disgusted by his fake ‘perfect spouse’ persona – ‘He’s being held out to be the antithesis of who he actually is. And that is utterly shocking.’… The woman, a successful New York attorney who is remaining anonymous, decided to speak out after Emhoff denied the claims through a spokesman… She said Emhoff’s odd behavior began immediately, when he invited his son Cole to join them about an hour into their first date in March 2012. ‘It was an odd request for a first date, but I also felt bad that his son was walking around the city waiting for his dad to finish his Match.com date. So, I agreed. In retrospect, it should have been a red flag.’… he tells me he had an affair with his daughter’s teacher and that subsequently she claimed that she was pregnant. He’s telling me this very casually like it’s no big deal. ‘He yelled at her. He never said he hit her, but he said he got really angry with her, and she subsequently claimed that whatever he did caused her to lose the pregnancy… And I was taken aback by how matter of fact he could talk about it… Jane said the next day Emhoff was unapologetic (after slapping her), telling her in a casual manner that they were ‘even’ and referencing her returned slaps using a tennis metaphor: ‘Don’t worry about it, you got one across the court and down the line.’… https://t.co/USkKUq8RYs @DC_Draino: And now you know why they pushed the Trump groper hoax yesterday. They were trying to get ahead of Doug Emhoff’s abuse today. @kausmickey: PS The woman (Emhoff accuser) and her husband “voted for Joe Biden in the Democratic presidential primary and 2020 election and donated over $10,000 to Biden’s campaigns.” Zero Hedge debunked part of ex-Epstein girlfriend and Trump accuser Stacey Williams. @zerohedge: “Late winter of 1993 I was on a walk with Jeffrey [Epstein] from his brownstone on the Upper East Side down Fifth Avenue, when Jeffrey looked at me and said “You know let’s go stop by and see Trump”.” Strange: Epstein only moved into the Wexler mansion on 9 East 71st in 1996. Source: https://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303 https://t.co/zj3MFL5N1c On Wednesday night, Kamala Harris held a town hall on CNN that was intended to refurbish her campaign and ‘close the deal’ with voters. It was a disaster; CNN commentators and pundits panned her. DJT advisor @StephenM: Kamala’s team selected the friendliest venue, friendliest host and friendliest network, in a desperate bid to rehab her failing campaign. And instead, she sank her own boat on live TV. An UNMITIGATED DISASTER. Like watching a rickety ship strike the same iceberg over and over. CNN panel roasts Kamala Harris for failing to set out her vision after Pa. town hall: ‘Word Salad City’ – “What I’m hearing from people who I’ve been talking to … if her goal was to close the deal, they’re not sure she did that,” CNN anchor Dana Bash said immediately after the event outside Philadelphia…“One was on Israel — Anderson [Cooper] asked a direct question, ‘Would you be stronger on Israel than Trump?’ And there was a seven-minute answer, but none of that related to the question he was asking.”… The bleak reviews came after Cooper, who moderated the town hall, forcefully pushed Harris on policy matters — at times uncomfortably asking her the same question repeatedly when she failed to give a straight answer… https://nypost.com/2024/10/24/us-news/kamala-harris-roasted-by-cnn-panel-after-pennsylvania-town-hall-word-salad-city/ @RealSaavedra: Top Democrat strategist David Axelrod on Kamala Harris’ town hall performance: “When she doesn’t want to answer a question, her habit is to kind of go to word salad city.” “She would acknowledge no concerns about any of the administration’s policies and that’s a mistake.” “You do want to relate to the people in front of you. She didn’t do a lot of that. She didn’t ask them questions. She didn’t address them particularly. She was giving set pieces too much.” https://t.co/kT2uQrpPWp Van Jones: Harris Had Needless ‘Evasions’ During CNN Town Hall, ‘Word Salad Stuff’ Is Annoying… I think that some of the evasions are not necessary… https://www.breitbart.com/clips/2024/10/24/van-jones-harris-had-needless-evasions-during-cnn-town-hall-word-salad-stuff-is-annoying/ @CortesSteve: Cooper: You’ve been in the White House for four years, why haven’t you done any of this already? Kamala: “There was a lot that was done, but there’s more to do. I’m pointing out things that need to be done, that haven’t been done, but need to be done.” https://x.com/CortesSteve/status/1849262188046725512 CNN’s Anderson Cooper asks Kamala Harris specifics on her tax plan. She says: “we can’t have this conversation … it’s a very complicated situation.” https://t.co/pkJGcaotoB Harris dodges whether she’s more ‘pro-Israel’ than Trump at CNN town hall, instead invokes Putin, Jan. 6 https://www.foxnews.com/media/harris-dodges-whether-shes-more-pro-israel-than-trump-cnn-town-hall-instead-invokes-putin-jan-6 @WarMachineRR: CNN’s Jake Tapper on Kamala Harris’s townhall: “She focused a lot more on Donald Trump than she did on many specifics in terms of what she would do.” https://t.co/6dEtd0Jeos @CortesSteve: Why won’t Kamala Harris answer this? College student: Will American citizens pay for the benefits and subsidies of illegal aliens, and if so, how much money will be allocated? Kamala: *dodges question* https://x.com/CortesSteve/status/1849263719152570542 @JackPosobiec: Voter: “How will you be different from Biden?” Kamala: My mom had to save up to buy a home. Ok? https://t.co/GIxAKSpbD4 @RealSaavedra: Kamala Harris was asked to name 1 thing she will try to get done as part of her legislative agenda. She could not name anything. (Gives word salad about ‘working across the aisle’) https://x.com/RealSaavedra/status/1849277892913418258 @LauraPowellEsq: Harris: “I’ve made many mistakes. They range from—you know, if you’ve ever parented a child, you know you make lots of mistakes!” So strange to pretend she has experience parenting a child when that’s not true. Her stepchildren are adults. She never lived with them when they were kids. https://x.com/LauraPowellEsq/status/1849475620914540862 @TrumpWarRoom: COOPER: “Under Donald Trump, you criticized the wall more than 50 times. You called it stupid, useless, and a medieval vanity project. Is a border wall stupid?” KAMALA: Lies about President Trump’s record and calls for mass amnesty for over 20 million illegal aliens. https://x.com/TrumpWarRoom/status/1849265952669524132 @FreeBeacon: CNN’s Anderson Cooper on codifying Roe v. Wade: If it’s not possible to codify it in the House, what do you do? Kamala: I think we need to take a look at the filibuster. https://x.com/FreeBeacon/status/1849263295095537920 No wonder she failed the bar. The Senate has the filibuster, not the House. Kamala Harris: “I may not have the answer as soon as you ask it about a specific policy issue sometimes because I’m gonna want to research it…I’m kind of a nerd sometimes ha ha ha ha ha! I confess!” https://x.com/townhallcom/status/1849267733751349250 @StephenM: Admitting you can’t think on your feet as President of the United States is the literal definition of disqualifying. @RealKyleMorris: Kamala Harris says one of her weaknesses is having smart people with different perspectives around her. “Perhaps a weakness, some would say, but I actually think it’s a strength. I really do value having a team of very smart people around me!” https://t.co/2mJEwq2VXx 92 Percent of Kamala Harris’ Staff Left Ii Her First Three Years as VP https://thefederalist.com/2024/07/23/92-percent-of-kamala-harris-staff-left-in-her-first-three-years-as-vp/ ‘Admires dictators’: Harris continues comparing Trump to Hitler during battleground state town hall https://t.co/iy1EWNot3b CNN: “Do you think Donald Trump is a fascist?” Kamala Harris: “Yes I do.” https://x.com/CortesSteve/status/1849257712586027052 @WesternLensman: @ScottJenningsKY just shredded Kamala’s “Trump is Hitler” hoax: “It probably will shock Kamala and her campaign staff to learn that there are *incumbent* Democrat U.S. Senators right now running TV ads touting all their work with this so-called modern-day Hitler.” “ I wonder if Kamala in our town hall tonight will call for them to take these ads off the air?” https://t.co/aVaGE5EfCz @Heminator: It’s truly astonishing that she keeps getting asked THE SAME QUESTIONS and still manages to come up with all new botched answers. How has her campaign not drilled some basic talking points into her?! @JackPosobiec: WH Official: A huge problem in the Kamala camp is different advisors had different answers for everything, and it confused her. There was never one big meeting where everyone agreed on policy. That’s why she cant even answer the Biden question. @JackPosobiec: WH official: “It’s over.”… Not even the earrings could save her. @joma_gc: Total meltdown tonight at the Harris-Walz campaign: – the Hitler hoax didn’t gain any traction; they’ve already overplayed that hand. – the “f-ing Mexican” hoax backfired, with the sister of murdered soldier Vanessa Guillén going on National TV and calling Harris and the Atlantic out for politicizing her sister’s death. – the “he grabbed my ass 32 years ago” hoax unraveled in less than an hour and is being universally mocked. – a new WSJ journal poll released tonight shows Kamala losing the popular vote by 3 points. – Kamala bombed the CNN Town Hall which was supposed to be her opportunity to present her closing argument to undecided voters. The joy is gone. @AFP: Kamala Harris will stage a star-studded rally Thursday alongside Barack Obama and rock legend Bruce Springsteen, as she launches a series of battleground state concerts in the final days of the US presidential race Beyonce to Appear Friday Night with Kamala Harris in Houston – WaPo (Concert guest rumored for two weeks, Kamalites hoped for Taylor Swift) Fox’s @PhilipWegmann: The closing argument is January 6: Senior campaign official confirms Harris will deliver a major address Tuesday at the Ellipse—she’s a prosecutor, her campaign was the argument, and she’s leaning on the jury at the spot Trump tried to overturn the 2020 election. @CynicalPublius: When President Eisenhower desegregated the schools in Little Rock, Democrats called him Hitler. Eisenhower. The guy who defeated Hitler. Democrats called him Hitler because he opposed Democrat racism. Think about it. The WSJ has Trump +3; its final 2020 poll had Biden +10; its final 2016 poll had Hillary +4. If DJT exceeds the WSJ’s +3 in the popular vote by 2 points, like in 2016, the GOP could garner up to 10 Senate seats. The GOP has big leads in Montana and West Virginia; small leads in Ohio and PA; and is within the margin of error in Nevada, AZ, WI, MI, Maryland, and Virginia. Biden leads Trump by 10 points in final pre-election NBC News/WSJ poll https://www.nbcnews.com/politics/meet-the-press/biden-leads-trump-10-points-final-pre-election-nbc-news-n1245667 Hillary Clinton Leads Donald Trump by 4 Points in Latest Poll https://www.wsj.com/articles/hillary-clinton-leads-donald-trump-by-4-points-in-latest-poll-1478440818 Michigan Senate hopeful Mike Rogers demands Democrat Rep. Elissa Slotkin release herself from NDAs on controversial Chinese factory deal https://trib.al/5gqLczJ JD Vance eviscerates Harris’ work in ‘most anti-Catholic administration in living memory’ https://trib.al/0cQIr9F @RealSaavedra: New Gallup poll finds overwhelming majority of U.S. wants new voter integrity laws. 84% want to require all voters to provide photo ID in order to vote. 83% want to require people who are registering to vote to provide proof of citizenship. https://x.com/RealSaavedra/status/1849473811269173492 @TrumpWarRoom on Thursday night: TRUMP: “Every Arizona senior needs to know that Kamala’s plan for mass amnesty will obliterate Medicare and Social Security — If you want your Medicare looted by 21 million illegal aliens until there is nothing left, vote for Kamala Harris.” https://x.com/TrumpWarRoom/status/1849575072937218535 @nataliegwinters: Here’s what the media won’t tell you about why Mark Milley is bashing Trump. He cashed out on his military service to become a Senior Adviser to JP Morgan which partnered with BlackRock on a $15 billion fund to “rebuild” Ukraine… https://x.com/nataliegwinters/status/1849521736305578312 Trump-bashing John Kelly is on the board of a company working in Ukraine. https://x.com/nataliegwinters/status/1849232789851271286 @TrumpWarRoom: President Trump rips into disgruntled former staffer John Kelly: “I fired him. He was a bully. He was a bad guy and he ended up being a weak guy because all bullies end up being weak.” https://x.com/TrumpWarRoom/status/1849588551018492351 With the election 12 days away, bitter old Mitch McConnell is inveighing against Trump and his backers! McConnell says ‘MAGA movement is completely wrong’ and Reagan ‘wouldn’t recognize’ Trump’s GOP – “Trump is appealing to people who haven’t been as successful as other people and providing an excuse for that, that these more successful people have somehow been cheated, and you don’t deserve to think of yourself as less successful because things haven’t been fair,” he said… “Unfortunately, about half the Republicans in the country believe whatever he says,”… https://www.cnn.com/2024/10/23/politics/mcconnell-trump-gop-new-book/index.html GOP Sen. @BasedMikeLee: 1. McConnell’s attacks on Donald Trump & Rick Scott are indefensible… 2. We must have clarity from the candidates running to replace McConnell on where they stand on these attacks. They must be clear on how they plan to lead the conference, and on the role of its members… 3. The Senate Republican leader is supposed to help Republicans, not undermine them… 4. Remember: McConnell’s superpac has withheld campaign support from Ted Cruz and Rick Scott this election season, an incomprehensible move for a Senate GOP “strong leader” who wants to keep Texas and Florida and gain a majority in the Senate.. Woke doc refused to publish $10 million trans kids study that showed puberty blockers didn’t help mental health https://trib.al/j5u8oDK “Why is it that so few realize the seriousness of our present crisis? Partly because men do not want to believe their own times are wicked, partly because it involves too much self-accusation, and principally because they have no standards outside of themselves by which to measure their times… Only those who live by faith really know what is happening in the world. The great masses without faith are unconscious of the destructive processes going on.” – Bishop Fulton Sheen, Jan. 26, 1947 | |
SWAMP STORIES FOR YOU TONIGHT
A FIRST…
WaPo Bails On Kamala – Won’t Make Presidential Endorsement
Friday, Oct 25, 2024 – 12:10 PM
Three weeks ago, the Teamsters Union became the second major union to announce that they would not endorse a presidential candidate after internal polling revealed 58% of its members back Trump vs. 31% for Harris.
That was understandable – their own members overwhelmingly rejected Harris.
This is different.
On Friday, the Washington Post announced that it would not endorse a candidate for president either, for the first time in 36 years.
“The Washington Post will not be making an endorsement of a presidential candidate in this election. Nor in any future presidential election. We are returning to our roots of not endorsing presidential candidates,” the outlet said in a statement.
Colleagues are said to be ‘shocked’ at the decision, according to NPR.
The editorial page editor, David Shipley, told colleagues that the Post’s publisher, Will Lewis, would publish a note to readers online early Friday afternoon.
Shipley told colleagues the editorial board was told yesterday by management that there would not be an endorsement. He added that he “owns” this decision. The reason he cited was to create “independent space” where the newspaper does not tell people for whom to vote.
Colleagues were said to be “shocked” and uniformly negative. Post corporate spokespeople have not responded to multiple messages left by NPR on the subject.
As NPR‘s David Folkenflik notes on X, “It is not clear whether Post owner Jeff Bezos or Publisher/CEO Will Lewis made the call.“
As Mario Nawfal noted on X,
The Post has primarily endorsed Democratic candidates for nearly a century, with only 3 Republicans since 1928.
Here’s a complete list of presidential candidates endorsed by The Washington Post since 1928, which highlights the significance of their 2024 decision to skip endorsements:
• 1932 to 1944: Franklin D. Roosevelt (Democrat)
• 1948: Thomas Dewey (Republican)
• 1952 & 1956: Dwight D. Eisenhower (Republican)
• 1960: John F. Kennedy (Democrat)
• 1964: Lyndon B. Johnson (Democrat)
• 1968: Hubert Humphrey (Democrat)
• 1972: George McGovern (Democrat)
• 1976 & 1980: Jimmy Carter (Democrat)
• 1984: Walter Mondale (Democrat)
• 1988: Michael Dukakis (Democrat)
• 1992 & 1996: Bill Clinton (Democrat)
• 2000: Al Gore (Democrat)
• 2004: John Kerry (Democrat)
• 2008: Barack Obama (Democrat)
• 2012: Barack Obama (Democrat)
• 2016: Hillary Clinton (Democrat)
• 2020: Joe Biden (Democrat)
The move comes after the Los Angeles Times similarly declined to endorse Harris – leading to the resignation of the paper’s opinion editor, Marzel Garza.
Wow…
Developing…
END
Texas AG Ken Paxton Files Criminal Referral Outlining Act Blue Illegal Campaign Finance Activity
Friday, Oct 25, 2024 – 03:40 PM
Authored by Sundance via The Conservative Treehouse,
Many people might think that Attorney General Ken Paxton filing a letter of notice for criminal referral to the U.S Dept of Justice is an act of futility, because the DOJ is not going to investigate or indict criminal conduct by leftist political operatives. However, there is a strategic process to follow, particularly if the Texas AG is likely to become the next U.S. Attorney General.
In a way this step-by-step proactive approach is exactly why my efforts to intercept fraudulent ballot printing operations in Wisconsin, Michigan and Pennsylvania were targeted to the Postmasters General in specific locales. It is unlawful to use the U.S.P.S. to conduct fraud through the postal system. Additionally, it is specifically illegal for a postmaster to be provided with direct evidence of mail fraud, and to knowingly – with intent, allow further unlawful activity therein.
Texas AG Ken Paxton is following a procedural process that builds a legal pathway.
TEXAS – Attorney General Ken Paxton made a criminal referral to the Department of Justice (“DOJ”) detailing the results of an investigation that revealed how suspicious actors seemingly use ActBlue’s political fundraising platform to make illegal straw donations.
The investigation into ActBlue began in December 2023 following allegations that the company could be facilitating illegal campaign contributions. As a result, in August 2024 ActBlue began requiring donors using credit cards to provide “CVV” codes, a common security measure. That does not prevent all the abuses that Attorney General Paxton’s team has identified on ActBlue, including that straw donations apparently are being made on a large scale using false identities, through untraceable payment methods.
On Monday, Attorney General Paxton sent a petition for rulemaking to the Federal Election Commission (“FEC”) urging changes that would close loopholes that can be exploited to illegally funnel money into American elections. When the FEC previously considered adopting rules that could prevent straw donation schemes like those uncovered by the investigation, ActBlue opposed such changes.
“I have made a criminal referral to the U.S. Department of Justice based on the findings from our investigation into ActBlue. My investigation uncovered evidence showing that bad actors are likely using ActBlue’s platform to make illegal campaign contributions,” said Attorney General Paxton. “It is illegal to engage in election fraud and it is illegal to obscure one’s identity to flout election rules. The Department of Justice must take immediate action to prevent illegal conduct in our elections.” (link)
Reminder….. With the Legislative Branch compromised by their own creation, and with the Judicial Branch stuck inside an old paradigm of “national security” you can see how confronting the DOJ operation can only come from one place, THE OVAL OFFICE.
The President of the United States, hopefully Donald J Trump, is going to have to do what the other branches have failed to do, take apart the DOJ and change all the functions of Main Justice to their pre-Patriot Act status. This is not going to be easy and will take a very specific type of person as U.S. Attorney General who both understands the issue and can, more importantly, articulate the problem to the larger American public.
- The President Trump Attorney General needs to be ultra clean with a spine of steel and a laser focus. The AG needs to totally understand the goals and objectives, without being told what the goals and objectives are. The AG needs to be independent, stable, strategic, brutally honest and keenly confident in his/her communication style with the attack media.
President Trump cannot spend exhaustive time instructing the AG on critical priorities. The AG needs to operate with skill, focus and self-motivated energy. The AG will be the focus of the Lawfare crew for removal/recusal. (Weissmann, McCord, Eisen, etc.)
- The Deputy AG needs to be intensely capable to stay on task with minimal supervision. The DAG is the git-r’-done person, no excuses, no apologies, no explanations. Raw, brutal, cold, quiet and determined. The DAG needs eyes of a mouse and ears of an elephant. The DAG needs to be a sponge, with total loyalty to the mission. The DAG also needs to be the bridge to the FBI.
GREG HUNTER
SEE YOU MONDAY
harveyorganblog.com 
