GOLD PRICE CLOSED UP $25.35 TO $2769.05

SILVER PRICE UP $0.49 TO $34.29

Gold ACCESS CLOSED $2772.65

Silver ACCESS CLOSED: $4.44

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:$71,510 UP 1690 DOLLARS.

Bitcoin: afternoon price: $72,884 up 3024 DOLLARS

Platinum price closing UP $10.90 TO $1050.70

Palladium price; UP 3.45 TO $1224.60

END

*CANADIAN GOLD: $3858.60 UP 47.11 CDN dollars per oz( * NEW ALL TIME HIGH 3,858.60 CDN DOLLARS PER OZ//OCT 29 2024)

*BRITISH GOLD: 2131.40 UP 16.56 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2131.40 BRITISH POUNDS/OZ) OCT 29/2024

*EURO GOLD: 2,563.70 UP 26.73 Euros per oz //* (ALL TIME CLOSING HIGH: 2563.70 EUROS PER OZ//OCT 29 //.2024)

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END

EXCHANGE

---

JPMorgan stopped 0/55

GOLD: NUMBER OF NOTICES FILED FOR OCT/2024. CONTRACT: 55 NOTICES FOR 5500 OZ  or  0.1710 TONNES

total notices so far: 12,666 contracts for 1,266,600 Oz (39.396 tonnes)

FOR  OCT

SILVER NOTICES:1 NOTICE(S) FILED FOR 5,000 OZ/

total number of notices filed so far this month : 1432 for 7.160 million oz

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END

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 $24.35 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD.

/ /INVENTORY RESTS AT 891.50 TONNES

INVENTORY RESTS AT 891.50 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $0.49 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY INTO THE SLV: A WITHDRAWAL OF 0.628 MILLION OZ OF SILVER OUT OFTHE SLV

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 477.542 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A SMALL SIZED 185 CONTRACTS TO 155,247 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SMALL GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR GAIN OF $0.15 IN SILVER PRICING AT THE COMEX WITH RESPECT TO MONDAY’S TRADING. WE HAD A STRONG GAIN OF 565 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE THE SMALL GAIN OF $0.15  IN PRICE. WE HAD CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS ON MONDAY COMEX TRADING AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S CONTINUAL PRICE RISE. WE HAD SOME MINIMAL SHORT COVERING BY OUR SPECS DURING THE COMEX TIME ZONE MONDAY..  WE HAD A  STRONG 380 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A STRONG 342 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING. IN ESSENCE WE GAINED A STRONG 565 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 MONDAY NIGHT: A STRONG 342 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 ONLY 15 CENTS) BUT WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A STRONG GAIN OF 565 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES

WE HAD A STRONG 380 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.355 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY;S 5,000 OZ QUEUE JUMP+ .195 MILLION OZ ISSUANCE OF EXCHANGE FOR RISK PRIOR//NEW TOTAL 7.410 MILLION OZ

//NEW STANDING FOR SILVER//OCT AT 7.410 MILLION OZ

WE HAD:

/ SMALL SIZED COMEX OI GAIN//STRONG SIZED EFP ISSUANCE/ VI)  STRONG SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 342 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 a huge 577 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 19 DAYS, total 17,037 contracts:   OR 85.185 MILLION OZ  (896 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  85.185 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; 85.185 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH)

RESULT: WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 185  CONTRACTS DESPITE OUR SMALL GAIN OF $0.15 IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,.  THE CME NOTIFIED US THAT WE HAD A STRONG EFP ISSUANCE  CONTRACTS: 380 ISSUED FOR DEC AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX TO LONDON  AS FORWARDS.  WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR OCT OF  5.355 MILLION  OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 5,000 OZ TO WHICH WE ADD .195 MILLION OZ OF EXCHANGE FOR RISK ISSUANCE/PRIOR

//NEW TOTAL STANDING FOR OCT AT 7.410 MILLION OZ 

WE HAVE A STRONG GAIN OF 565 OI CONTRACTS ON THE TWO EXCHANGES DESPITE OUR SMALL GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 342 CONTRACTS ( WILL BE USED FOR MONDAY’S TRADING),//ZERO FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY 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 MONDAY/ . ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.

THE NEW TAS ISSUANCE MONDAY NIGHT   (342) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND LATELY ON A DAILY BASIS INCLUDING TODAY.

WE HAD 1 NOTICE(S) FILED TODAY FOR 5,000 OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 3991 OI CONTRACTS  TO 561,406 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: added 244 CONTRACTS//

WE HAD A GOOD SIZED DECREASE  IN COMEX OI (3991 CONTRACTS) OCCURRED DESPITE OUR SMALL GAIN OF $1.50 IN PRICE MONDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 33.655 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 2900 OZ QUEUE JUMP

NEW STANDING ADVANCES TO  39.409 TONNES+ + 20.917 TONNES EXCHANGE FOR RISK/PRIOR// = 60.326 TONNES

/ ALL OF THIS HAPPENED WITH OUR $1.50 GAIN IN PRICE  WITH RESPECT TO MONDAY’S COMEX TRADING///. WE HAD A SMALL GAIN OF 190 OI CONTRACTS (0.590 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 LAST 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.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 4181 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 561,406

IN ESSENCE WE HAVE A TINY SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 190 CONTRACTS  WITH 3991 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 4181 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 190 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED 2458 CONTRACTS, WE HAD SOME LIQUIDATION OF T.A.S CONTRACTS WITH OUR GAIN IN PRICE MONDAY AND WE ALSO HAD MONTH END SPREADER LIQUIDATION MONDAY

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4181 CONTRACTS) ACCOMPANYING THE GOOD SIZED DECREASE IN COMEX OI OF 3991 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 190 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 2900 OZ QUEUE JUMP + 20.917 ISSUANCE OF EXCHANGE FOR RISK/PRIOR.

//NEW STANDING ADVANCES TO TO: /OCT 39.409 TONNES.  + 20.917 EX, FOR RISK/PRIOR = 60.326 TONNES

 / 3) SOME T.A.S. LIQUIDATION AND SPREADER LIQUIDATION (TRYING TO CONTAIN GOLD’S PRICE RISE TO NO AVAIL MONDAY , AND WITH ZERO NET LONG SPECS BEING CLIPPED. STICKY GOLD’S LONGS WERE NOT FOOLED AND THEY WERE REWARDED MONDAY AS GOLD RESUMES ITS ATMOSPHERIC RISE…AND THIS CONTINUED ON WITH TODAY’S RISE IN PRICE DESPITE OPTIONS EXPIRY WEEK IN FULL THROTTLE. THE CROOKS ARE HAVING AN AWFUL TIME TRYING TO CONTAIN GOLD’S PRICE RISE.

  4) GOOD SIZED COMEX OPEN INTEREST DECREASE 5)  STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FSTRONG T.A.S.  ISSUANCE: 2568 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: 80,506 CONTRACTS OF 8,050,600 OZ OR 250.407 TONNES IN 19 TRADING DAY(S) AND THUS AVERAGING: 4237 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19 TRADING DAY(S) IN  TONNES  250.407 TONNES

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

THUS EFP TRANSFERS REPRESENTS  250.407 DIVIDED BY 3550 x 100% TONNES = 7.04% 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. 250.407 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)

SPREADING OPERATIONS

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

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

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

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

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

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

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

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A SMALL SIZED 185 CONTRACTS OI  TO 155,824 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 380 CONTRACTS

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

DEC 380 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 380 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI GAIN OF 185   CONTRACTS AND ADD TO THE 380 E.FP. ISSUED

WE OBTAIN A STRONG SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 565 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 5.710 MILLION OZ OCCURRED DESPITE OUR SMALL  $0.15 GAIN  IN PRICE  

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING MONDAY  NIGHT

ASIA TRADING/TUESDAY MORNING/MONDAY  NIGHT

SHANGHAI CLOSED DOWN 35.79 PTS OR 1.08%

//Hang Seng CLOSED UP 101.78 PTS OR 0.79%

// Nikkei CLOSED UP 298.15 PTS OR 0.77%//Australia’s all ordinaries CLOSED UP 0.33%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1360 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1532// Oil UP TO 68.37 dollars per barrel for WTI and BRENT UP AT 72.30 Stocks in Europe OPENED MOSTLY GREEN

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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A GOOD SIZED 3991 CONTRACTS TO 561,406 WITH OUR GAIN IN PRICE OF $1.50 WITH RESPECT TO MONDAY’S TRADING. , WE LOST ZERO IN NUMBER LONGS WITH THE HIGHER PRICE FOR GOLD AS YOU WILL SEE BELOW. WE HAD A HUGE NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (4181). 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 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  HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A HUGE SIZED 4181 EFP CONTRACTS WERE ISSUED: :  /DEC  4181 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4181 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 SMALL TOTAL OF 190 CONTRACTS IN THAT 4181 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD SIZED LOSS OF 3991 COMEX  CONTRACTS..AND THIS TINY LOSS  ON OUR TWO EXCHANGES HAPPENED WITH OUR  GAIN IN PRICE OF $1.50 MONDAY// 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 MONDAY NIGHT, A STRONG SIZED 2458 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 (60.326 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 39.409 TONNES + + 20.917 TONNES EXCHANGE FOR RISK PRIOR =60.326 TONNES

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $1.50/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A TINY SIZED GAIN IN OUR TWO EXCHANGES. WE DID HAVE CONSIDERABLE T.A.S. SPREADER LIQUIDATION MONDAY COUPLED WITH MONTH END SPREADER LIQUIDATION BUT TO NO AVAIL IN STOPPING GOLD’S ADVANCE. CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL MONDAY EVENING.

WE HAVE GAINED A TOTAL OF 0.590 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR OCT (33.651TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 2900 OZ QUEUE JUMP PLUS + 20.917 TONNES OF EXCHANGE FOR RISK//PRIOR

//NEW STANDING FOR OCT 39.409 TONNES.+ + 20.917 TONNES (EXCHANGE FOR RISK

NEW STANDING FOR OCT 39.409 TONNES  + 20.917 TONNES EXCHANGE FOR RISK/PRIOR= 60.326 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR STRONG GAIN IN PRICE  TO THE TUNE OF $1.50

WE HAD 244 CONTRACTS ADDED TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 190 CONTRACTS OR 1900 OZ (0.590 TONNES)

confirmed volume MONDAY 175,066 contracts poor

//speculators have left the gold arena

END

OCT 29  OCT  GOLD CONTRACT

/ /// THE OCT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	65,105.760 OZ JPMORGAN 2025 KILOBARS GOLD LEAVING LONDON DEBITED TO COMEX JPM           .
Deposit to the Dealer Inventory in oz	NIL
Deposits to the Customer Inventory, in oz	NIL
No of oz served (contracts) today	55 notice(s) 5500 OZ 0.1710 TONNES
No of oz to be served (notices)	4 contracts    400 OZ 0.0124 TONNES
Total monthly oz gold served (contracts) so far this month	12,666 notices 1,266,600oz 39.396 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: 1

I) out of JPMorgan 65,105.760 oz 2025 kilobars

TOTAL WITHDRAWALS: 65,105.760 oz

adjustments: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.

For the front month of OCT: we have an oi of 59 contracts having GAINED 14 contracts

We had 15 contracts filed on MONDAY so we GAINED 29 contracts on our two exchanges or 29 CONTRACTS underwent a 2900 oz queue jump. This is central bank action grabbing all the physical they can.

NOVEMBER LOST 150 CONTRACTS TO STAND AT 819

DECEMBER, THE BIGGEST DELIVERY MONTH LOST 6997 CONTRACTS TO 429,136

We had 55 contracts filed for today representing 5500 oz  

This is a huge major assault on the comex for gold and this time it is physical that will be requested.

Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 55 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 (12,666 x 100 oz ) to which we add the difference between the open interest for the front month of  OCT(59 CONTRACTS)  minus the number of notices served upon today  (55 x 100 oz per contract( equals  1,267,000 OZ  OR 39.4090 TONNES. TO WHICH WE ADD THAT STUPID 20.917 TONNES OF EXCHANGE FOR RISK PRIOR, NEW TOTAL = 60.326 TONNES

thus the INITIAL standings for gold for the OCTOBER contract month:  No of notices filed so far (12,666 x 100 oz +we add the difference for front month of OCT  (59 OI} minus the number of notices served upon today (55 x 100 oz which equals  1,267,000 oz (39.409 TONNES)  + 20.917 EX. FOR RISK DELIVERY /PRIOR = 60.326 TONNES

TOTAL COMEX GOLD STANDING FOR OCT.: 60.326 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: 1,624,895.372  oz 50.54 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  16,978.300.411 OZ  

TOTAL REGISTERED GOLD 7,701,745.735/// 239.55tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,276,554.676 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,076,950 oz (REG GOLD- PLEDGED GOLD)= 189.01 tonnes //

END

SILVER/COMEX

OCT   29\ 2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	1,221,193.139oz Delaware Loomis .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	1,797,,867.800 oz ASAHI Loomis
No of oz served today (contracts)	1 CONTRACT(S)    (5,000 OZ)
No of oz to be served (notices)	11 contracts  (55,000oz)
Total monthly oz silver served (contracts)	1432 Contracts  (7.160 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  2 customer deposits

i) Into ASAHI: 596,657,700 oz

ii) Into Loomis 1,201,210,100 oz

total customer deposits 1,797,867.800 oz

We had 2 withdrawals

i) Out of Delaware 19,499.5 oz

ii) Out of Loomis; 1,201,694.160 oz

total withdrawal 1,221,193.139 oz

JPMorgan has a total silver weight: 134.401million oz/308.066million  or 43.55%

adjustment 2

customer to dealer//Ashai: 2,461,527.272 oz

TOTAL REGISTERED SILVER: 70.688MILLION OZ//.TOTAL REG + ELIGIBLE. 308.066million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR OCT

silver open interest data:

FRONT MONTH OF OCT /2024 OI: 12 OPEN INTEREST FOR A GAIN OF 0 CONTRACTS

WE HAD 1 CONTRACT SERVED ON MONDAY SO WE GAINED 1 CONTRACTS OR WE ENTERTAINED A 5,000 OZ QUEUE JUMP

NOVEMBER SAW A LOSS OF 86 CONTRACTS TO STAND AT 748

DECEMBER SAW A LOSS OF 690 CONTRACTS DOWN TO 124,757 CONTRACTS

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 1 for 5,000 oz

CONFIRMED volume; ON MONDAY 66,657 strong

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 1432x 5,000 oz = 7.160 MILLION oz 

to which we add the difference between the open interest for the front month of OCT (1) and the number of notices served upon today (12)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:  1432 Notices served so far) x 5000 oz + OI for the front month of OCT(12) number of notices served upon today minus (1)x 5000 oz of silver standing for the OCT contract month + .195 million oz ex. for risk/PRIOR equates to 7.410 MILLION OZ. 

 New total standing: 7.410 million oz.

There are 70.688 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 29 WITH GOLD UP $25.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD.// . // .///INVENTORY RESTS AT 891.50 TONNES

OCT 28 WITH GOLD UP $1.50 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.02 TONNES OF GOLD FROM THE GLD.// . // .///INVENTORY RESTS AT 889.78 TONNES

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

GLD INVENTORY: 891.50 TONNES, TONIGHTS TOTAL

SILVER

OCT 29  WITH SILVER UP 49 CENTS : HUGE CHANGES IN SILVER INVENTORY AT THE SLV’ A WITHDRAWAL OF 0.628 MILLION OZ OUT OF THE SLV..//// //INVENTORY AT SLV RESTS AT 477.542 MILLION OZ

OCT 28  WITH SILVER UP 15 CENTS : HUGE CHANGES IN SILVER INVENTORY AT THE SLV’ A WITHDRAWAL OF 1.431 MILLION OZ OUT OF THE SLV..//// //INVENTORY AT SLV RESTS AT 478.180 MILLION OZ

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

CLOSING INVENTORY 477.542 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

Jim Rickards: BRICs trading plan is an informal gold standard

Submitted by admin on Mon, 2024-10-28 19:26 Section: Daily Dispatches

Participating countries will resolve trade imbalances by buying gold

By Jim Rickards
Daily Reckoning, Baltimore
Monday, October 28, 2024

There’s so much to discuss right now, from the upcoming election to geopolitical instability. But today I want to talk about gold. I call it the once and future money.

The use of gold as money existed from antiquity until gold backing broke down entirely in 1971. Still, central banks and finance ministries hold more than 37,000 metric tonnes of gold in reserve.

Why? The answer is that gold is still at the base of global monetary systems. It’s simply the case that no government wants to admit this because the shortage of gold relative to bank notes would be exposed if they did.

But gold is coming to the fore of the monetary system again. Central banks are buying gold as fast as they can. 

Let’s look at some pertinent data before turning to the key geo-economic trends that will drive the dollar price of gold much higher in the near future. …

… For the remainder of the analysis:

The Golden Rule Is Real

END

BIS debates ending project eyed by Putin for undermining dollar

Submitted by admin on Mon, 2024-10-28 19:33 Section: Daily Dispatches

By Bastian Benrath-Wright, Mark Schroers, and Jana Randow
Bloomberg News
Monday, October 28, 2024 

The Bank for International Settlements is debating whether to shut down a pilot cross-border payments platform after Russia’s President Vladimir Putin identified the underlying technology as a tool to circumvent sanctions and potentially undermine the dollar’s dominance in the global financial system.

The mBridge project — which promises to allow sending money around the world without relying on U.S. banks — was among topics discussed by central banks and finance chiefs at last week’s annual meetings of the International Monetary Fund and World Bank in Washington, according to people informed about the talks. Shutting it down was among the options, the people added, asking not to be named discussing confidential deliberations.

Agustin Carstens, the BIS general manager whose term ends in June, said Saturday at an event of the Group of 30 in the U.S. capital that “we cannot directly support any project for the BRICS because we cannot operate with countries that are subject to sanctions. I want to be very clear about that.”

The United States has been increasingly using the dollar’s role as a key conduit of financial transactions worldwide to implement international sanctions, in particular after Russia’s invasion of Ukraine. This has prompted attempts to seek alternatives that would be safe from U.S. interventions, even though the dollar remains the main currency of international trade and there are little signs this will change any time soon. …

… For the remainder of the report:

https://www.bnnbloomberg.ca/business/international/2024/10/28/bis-debates-ending-project-eyed-by-putin-to-undermine-dollar/

4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/no 196 ANDREW MAGUIRE WITH MICHAEL OLIVER//OTHER GOLD COMMENTARIES

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

World’s Most Consumed Vegetable Oil Hits Two-Year High Amid Sticky Food Inflation

Tuesday, Oct 29, 2024 – 04:15 AM

Palm oil futures surged to a two-year high on Monday amid mounting concerns over tightening supplies. As a staple edible oil for over three billion people, especially in Asia, soaring prices are a worrisome trend: global food inflation may be sticky. 

Bloomberg reports palm oil futures reached the highest level since July 2022 on Monday morning. The vegetable oil has jumped more than 15% this month and is on track for the third consecutive month of gains on production woes across top-growing regions. 

The latest data from the Indonesian Palm Oil Association shows palm oil production is estimated to drop to 51 million tons in Indonesia for the year, down from 54.8 million in 2023. 

“The tropical oil has been strengthening on weaker output in Indonesia and Malaysia, which collectively account for more than 80% of global supply. Older trees and weather disruptions crimp production at a time when demand is rising. Firmer prices could boost food costs in top buyers India and China,” Bloomberg noted.

Higher vegetable oil prices come as the latest print from the Food and Agriculture Organization of the United Nations’ Food Price Index, which tracks the international prices of a basket of globally traded food, averaged 124.4 in September, up 3% from August and 2.1% higher versus the same month one year ago. 

FAO’s September rise was the first YoY increase in 18 months. 

About one year ago, Sara Menker, founder and CEO of Gro Intelligence, warned in a Bloomberg interview that the current global food crisis is ‘much worse than 2008’. 

In late 2020, SocGen’s Albert Edwards started to warn about the Federal Reserve blowing bubbles during the Covid pandemic and how it could spark a surge in food prices and the usually ongoing risks, such as social-economic instabilities. 

Food inflation is very sticky and will remain so through the end of the decade – if not longer. 

Our advice to readers: Buy farmland.

.

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING TUESDAY MORNING/MONDAY  NIGHT

SHANGHAI CLOSED DOWN 35.79 PTS OR 1.08%

//Hang Seng CLOSED UP 101.78 PTS OR 0.79%

// Nikkei CLOSED UP 298.15 PTS OR 0.77%//Australia’s all ordinaries CLOSED UP 0.33%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1360 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1532// Oil UP TO 68.37 dollars per barrel for WTI and BRENT UP AT 72.30 Stocks in Europe OPENED MOSTLY GREEN

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

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

ONSHORE YUAN:   CLOSED DOWN AT 7.1360

OFFSHORE YUAN: DOWN TO 7.1532

SHANGHAI CLOSED CLOSED DOWN 35.79 PTS OR 1.08%

HANG SENG CLOSED CLOSED UP 101.78 PTS OR 0.49%

2. Nikkei closed UP 298.15 POINTS OR 0.77%

3. Europe stocks   SO FAR:  ALL MOSTLY GREEN

USA dollar INDEX UP TO  104.24 EURO FALLS TO 1.0809 DOWN 16 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.980 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 160.86…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

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

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

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

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

3g Oil UP for WTI and 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 +2.3210 Italian 10 Yr bond yield UP to 3.529 //SPAIN 10 YR BOND YIELD UP TO 3.010

3i Greek 10 year bond yield UP TO 3.185

3j Gold at $2752..50 /Silver at: 33.14  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 35/100  roubles/dollar; ROUBLE AT 97.36

3m oil into the 68 dollar handle for WTI and  72 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 153.40  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.980% 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 0.8677 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9370  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: 4.302 UP 2 BASIS PTS…

USA 30 YR BOND YIELD: 4.552 UP 2 BASIS PTS/

USA 2 YR BOND YIELD:  4.142 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.28…

10 YR UK BOND YIELD: 4.3260 UP 7 PTS

10 YR CANADA BOND YIELD: 3.324 UP 5 BASIS PTS

5 YR CANADA BOND YIELD: 3.091 UP 4 PTS.

2a New York OPENING REPORT

Futures Drop, Yields Rise As Tech Giant Earnings Start With Google On Deck

Tuesday, Oct 29, 2024 – 08:18 AM

Futures are down small, reversing a modest overnight gain with small-caps underperforming. As of 8:00am ET, S&P futures are down 0.1%, near session lows, while Nasdaq futures are fractionally higher on the session with Mag7 names mixed while GOOG is higher ahead of earnings and semis are seeing a slight bid despite NVDA -60bps. The yield curve is bear steepening with the 10Y yield at 4.30%; the USD is flat. In commodities, oil prices climb along with industrial and precious metals after Reuters reported China is weighing approving over 10 trillion yuan ($1.4 trillion) in additional borrowing in the coming years to shore up the economy and address local governments’ debt risks. WTI is up 1% near $68 a barrel while copper rises 0.9%. Today’s macro data focus will be on JOLTS, Consumer Confidence, and Housing prices. GOOG is the first of 5 of the Mag7 that report this week which may present an inflection point for the group given the reduction in exposure since the summer which has not yet been offset by recent purchases.

In premarket trading, shares of Vans and North Face owner VF Corp. surged 22% after the company reported fiscal Q2 adjusted earnings and revenue that topped analysts’ estimates. CVR Energy shares were down nearly 25% pre-bell Tuesday after the company overnight swung to a fiscal Q3 adjusted loss and posted lower net sales in addition to suspending its quarterly dividend. Here are some other notable movers:

• Lixte Biotechnology Holdings (LIXT) shares were up 62% pre-bell Tuesday, rebounding from Monday’s fall.
• Shuttle Pharmaceuticals (SHPH) stock was 55% higher after the company said that it has completed the clinical trial site enrollment for a phase 2 study of a treatment candidate for glioblastoma.
• Profire Energy (PFIE) shares were up 46% on a pending $125 million takeover by CECO Environmental (CECO).
• American Rebel Holdings (AREB) stock was 32% higher following a 1.1% gain in the previous session.
• TransMedics Group (TMDX) stock was 23% lower after the company overnight reported Q3 earnings and revenue that trailed analysts’ estimates.
• American Well (AMWL) shares were down 10% after a 5.5% gain in the previous session.

US stocks are on a bullish streak this year with the S&P 500 set to gain for a sixth straight month. With the tech behemoths driving the bulk of the rally, investors have been laser focused on earnings growth from the group (full preview here). Of note, analysts expect average profit growth for the industry to slow sharply from the second quarter.

Attention is also on the US presidential election and the Federal Reserve’s rate announcement next week. Traders are almost fully pricing in one rate cut from the central bank, according to swaps data compiled by Bloomberg.

“We could be braced for some volatility over the coming days,” said Mohit Kumar, macro strategist at Jefferies, who said he’s ready to snap up assets cheapened by choppy markets.

European equities rose as positive company updates from the likes of HSBC and Adidas provided some respite in the face of growing market risks. Miners and banks outperform while travel and leisure and real estate are the biggest laggards. Basic resources lead the Stoxx 600 index higher 0.2% to 522.16 with 327 members up, 250 down and 23 unchanged. Here are some of the biggest movers on Tuesday:

• HSBC shares gain as much as 4.9% in London after the lender reported better-than-expected earnings and announced a new $3 billion stock buyback, with Morgan Stanley describing the report as solid.
• Adidas shares gain as much as 3% after the sportswear company reported a third-quarter operating margin that came in ahead of estimates.
• Shoprite shares advance as much as 6.1%, the most since June, after the food retailer said it expects groups sales for the first-quarter to grow above 10%, exceeding Citi’s expectations.
• BP shares decline as much as 1.3% after analysts flag company’s planned revision of share buybacks next year will result in a cut in payouts.
• Santander shares dropped as much as 3.9% after the Spanish lender reported net interest income that missed estimates.
• Lufthansa shares fall as much as 3.9% after the airline company reported Ebit for the third quarter that slightly exceeded analyst estimates, though analysts note the results indicate a low-quality beat.
• Wartsila falls as much as 13% after the Finnish marine and energy industry equipment manufacturer’s third-quarter orders fell short of expectations, with fourth-quarter margin commentary also seen as negative.
• Novartis shares drop as much as 4.3%, the most in more than three months, as investors weigh the outlook for the pharmaceutical company in 2025, when generic versions of multiple drugs are expected to enter the market.
• VusionGroup slumps as much as 11%, the most in five months, with Oddo BHF highlighting weaker-than-expected third quarter results which will see the full-year more back-end loaded for the French maker of smart digital labels.
• AT&S shares fall as much as 11% after the Austrian electronics manufacturer cut its revenue forecast for the year in a move Oddo says raises questions around liquidity and the investment case.
• Clariant shares drop 7.5% after the specialty chemicals company’s 3Q sales missed due to weakness in its cyclical catalyst business.
• Straumann shares slump as much as 10%, most since April, after the Swiss maker of dental equipment delivers in line 3Q sales but analysts note weakness in the US as a worry.
• Schibsted shares fall as much as 2.8% after Polaris Media offered 3.15 million Class-B shares in the Norwegian media firm via SEB at a 5% discount to Monday’s close.

Earlier in the session, Asia-Pac stocks were mixed despite the initial tailwinds following the mostly positive handover from Wall St, with gains in the region capped and some markets were choppy owing to a lack of fresh catalysts heading into this week’s key data releases. ASX 200 was led by strength in gold stocks after the precious metal extended on advances, while sentiment was also supported by M&A activity with Myer to acquire apparel brands from Premier Investments. Nikkei 225 recouped opening losses and extended higher amid recent currency weakness and lower unemployment. Hang Seng and Shanghai Comp traded mixed with the former underpinned by tech strength and as participants reflected on earnings releases, while the mainland index swung between gains and losses as EV and child-related policy initiatives were counterbalanced by frictions after the US issued final rules to curb US investments in AI, semis and other tech sectors in China.

In FX, the Bloomberg Dollar Spot Index is treading water, up 0.1%, while the yen bounced off a three-month low triggered by the failure of the ruling coalition to win a majority in parliament for the first time since 2009. Japanese Finance Minister Katsunobu Kato said the government will watch developments in the currency market with a heightened sense of urgency

In rates, treasuries are lower, with US 10-year yields 2bps cheaper on the day at about 4.30%, outperforming bunds in the sector by 1.5bp, gilts by around 1bp. German bonds underperform as 10-year borrowing costs add 4 bps. Losses were pared after a 10-year note futures block trade, apparently initiated by buyer. US session includes $44b 7-year note auction at 1pm New York time; Monday’s 2- and 5-year sales tailed. The compressed Treasury auction cycle concludes with $44b 7-year note at 1pm; WI yield at ~4.20% is about 53bp cheaper than September auction, which stopped through by 0.7bp with a below-average dealer allotment. Economic data slate features consumer confidence and JOLTS job openings.

In commodities, oil prices climb along with industrial metals after Reuters reported China is weighing approving over 10 trillion yuan ($1.4 trillion) in additional borrowing in the coming years to shore up the economy and address local governments’ debt risks. WTI is up 1% near $68 a barrel while copper rises 0.9%. Spot gold rises $6 to $2,749/oz. Bitcoin rises 2% to above $71,000.

Looking at today’s US data calendar includes, we get the September goods trade balance and wholesale inventories (8:30am), August FHFA house price index and S&P CoreLogic home prices (9am), September JOLTS job openings and October consumer confidence (10am) and Dallas Fed services activity (10:30am). Fed officials are in self-imposed quiet period ahead of Nov. 7 policy announcement

Market Snapshot

• S&P 500 futures little changed at 5,863.00
• STOXX Europe 600 up 0.1% to 521.69
• MXAP up 0.1% to 187.29
• MXAPJ down 0.2% to 598.59
• Nikkei up 0.8% to 38,903.68
• Topix up 0.9% to 2,682.02
• Hang Seng Index up 0.5% to 20,701.14
• Shanghai Composite down 1.1% to 3,286.41
• Sensex little changed at 80,015.24
• Australia S&P/ASX 200 up 0.3% to 8,249.24
• Kospi up 0.2% to 2,617.80
• German 10Y yield little changed at 2.32%
• Euro little changed at $1.0817
• Brent Futures up 0.5% to $71.80/bbl
• Gold spot up 0.3% to $2,749.90
• US Dollar Index little changed at 104.28

Top Overnight News

• US economic data will be a mess in the coming weeks due to the Boeing strike and recent hurricanes, creating complications for the Fed as it proceeds with its easing agenda. WSJ  
• China could approve at its upcoming NPC meeting the issuance of an extra $1.4T in debt over the next few years to bolster the economy (and the number might rise if Trump wins the US election). RTRS
• The number of China’s dollar billionaires has fallen by more than a third in the past three years, according to a “rich list” compiled by research group Hurun, as government crackdowns, weakness in parts of the economy and depressed equity markets take their toll. FT
• China’s power demand will grow faster than anticipated this year due to heat waves and the government’s stimulus initiatives. RTRS
• Apple iPhone exports from India jump as the company shifts its supply chain away from China. BBG   
• Japan opposition politician, who could play a critical role in forming the next gov’t, says the BOJ should proceed with tightening at a more cautious pace. RTRS
• HSBC’s bonus pool is on course to match last year’s decade high of about $3.8 billion. Shares gained after earnings beat and the bank announced a new $3 billion buyback plan. CEO Georges Elhedery said there’s no plan to break up the group. BBG
• Buyers of top-rated CMBS are suffering losses for the first time since the financial crisis. The pain is most acute in a new breed called SASBs, with creditors in office deals from New York to LA set to get only a portion of their investment back. BBG
• Citadel’s Ken Griffin said markets expect Donald Trump to win the US election, though the race is “almost a coin toss.” BBG

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were ultimately mixed despite the initial tailwinds following the mostly positive handover from Wall St, with gains in the region capped and some markets were choppy owing to a lack of fresh catalysts heading into this week’s key data releases. ASX 200 was led by strength in gold stocks after the precious metal extended on advances, while sentiment was also supported by M&A activity with Myer to acquire apparel brands from Premier Investments. Nikkei 225 recouped opening losses and extended higher amid recent currency weakness and lower unemployment. Hang Seng and Shanghai Comp traded mixed with the former underpinned by tech strength and as participants reflected on earnings releases, while the mainland index swung between gains and losses as EV and child-related policy initiatives were counterbalanced by frictions after the US issued final rules to curb US investments in AI, semis and other tech sectors in China.

Top Asian News

• China’s legislative body is considering approving a fresh fiscal package which could be worth over CNY 10tln , via Reuters citing sources. Would include proceeds worth CNY 6tln to address local governments debt risk and up to CNY 4tln to acquire idle land. CNY 10tln to be raised through local government bonds and special treasuries. May announce stronger fiscal package if Trump wins November 5th election.
• China’s MOFCOM says it will continue imposing anti-importing duties on imported ethanolamine from the US, Saudi Arabia & others for an additional five years
• Japanese PM Ishiba is said to seek a partial coalition with the DPP. In relevant news, Japanese DPP head Tamaki said they will push the government towards policies that increase take-home pay and want to enact at least one or two of their policies, while he favours an extra budget to respond to the aftermath of the Noto earthquake. Tamaki said they have not heard from the LDP about a partial coalition and are exchanging information with the LDP, CDP and Ishin, while he waits for the LDP response on a possible coalition but declined to join the LDP-Komeito ruling coalition and does not understand what a partial coalition would mean. Furthermore, Tamaki said the BoJ should avoid big policy change for now with real wages at a standstill and can review monetary policy if there is certainty that wage growth will exceed 4% at next year’s wage negotiations, according to Reuters and Nikkei.
• UK is reportedly open to restarting China trade talks, according to POLITICO.
• Japan’s Economy Minister Akazawa says he is closely monitoring currency moves; notes that a weak yen can have various impacts on the economy. Says “Weak yen could push down income and private consumption if wages have not grown enough”

European bourses, Stoxx 600 (+0.2%) initially opened entirely in the green, but sentiment gradually withered as the morning progressed; however, following reports that China’s legislative body is considering approving a fresh fiscal package which could be worth over CNY 10tln, indices managed to pull back off lows and back towards best levels. European sectors are slightly positive; Basic Resources is the clear outperformer with base metals prices lifting from lows, following the aforementioned China stimulus reports. Banks takes second spot, propped up by post-earning strength in HSBC. Travel &
Leisure is found at the foot of the pile, hampered by losses in Lufthansa, whilst Healthcare is weighed on by post-earning weakness in Novartis. European earnings included: Novartis (mixed, raised FY24 guidance), BP

Top European News

• ECB’s De Guindos says “we will keep all options open at the forthcoming meeting”; is confident that the ECB will be able to reach the 2% target in the course of 2025.
• Germany’s DHK says the economy is expected to contract 0.2% in 2024 (prev. view 0.00%), economy seen stagnating in 2025

FX

• USD is broadly steady vs. peers but ultimately still supported into the upcoming US election; today’s docket includes, JOLTS, Advance Goods Trade Balance, Wholesale Inventories & Consumer Confidence. DXY is currently within yesterday’s 104.11-57 range.
• EUR is slightly edging out the USD and gaining a firmer footing on a 1.08 handle in quiet newsflow, but ahead of GDP Wednesday and
• CPI on Thursday. EUR/USD is currently contained within yesterday’s 1.0782-1.0827 parameters.
• GBP is trivially higher vs. the USD ahead of tomorrow’s widely-anticipated UK budget which is expected to be net expansionary,
• however, lead to increased taxation at an individual level. For now, Cable is tucked within Monday’s 1.2940-1.3001 range.
• JPY is steady vs. the USD with USD/JPY tucked within Mondays’s 152.21-153.88 range. The direction of travel for the pair appears to
• remain to the upside.
• Antipodeans are both steady vs. the USD after initially lagging peers early doors. AUD/USD has been granted some reprieve by
• stimulus headlines out of China with the pair picking up from a 0.6559 session low. NZD/USD was also boosted by the Chinese news

Commodities

• WTI and Brent are in the green ; upside could be attributed to a paring of recent losses, geopolitical developments which have focused on reports that Israel is considering reshuffling its hostage negotiation team and reports of a fresh Chinese fiscal package. As it stands, Brent Jan’25 sits just under USD 71.50/bbl.
• Spot gold began the European morning on a firmer footing and saw some modest upside following the aforementioned stimulus reports. XAU at a USD 2757/oz peak and is yet to nudge higher to a test of the USD 2758.49/oz record high.
• Base metals are bolstered by the stimulus reports around China. Reporting which has seen HG Copper climb from USD 4.34 to over 4.42 while 3M LME is above USD 9.65k, surpassing Monday’s 9.6k peak.
• US DoE announced a new solicitation for up to 3mln bbls of oil for delivery to the Strategic Petroleum Reserve from April 2025 through to May 2025.
• Saudi Energy Minister says he is committed to maintaining 12.3mln bpd of crude capacity.
• BP (BP/ LN) CEO says global oil demand growth is a little below avg in 2024 and 2025 because of China; will return to normal levels when China introduces stimulus.

Geopolitics: Middle East

• Iran plans to raise its military budget by 200%, according to Iranian state TV.
• Israeli PM Netanyahu is currently focussed on finding any possible solution which could result in a deal, via AJ Breaking; looking into possible changes to the hostage negotiating team.
• “Lebanese source to Sky News Arabia: There is no truth to all the information reported by Yedioth Ahronoth regarding the proposal for a settlement in Lebanon”, via Sky News Arabia.
• Hezbollah names deputy head Naim Qassem as successor to slain chief Nasrallah, according to AFP.
• Israeli PM Netanyahu said they have not received an offer to release 4 hostages in exchange for a 48-hour ceasefire in Gaza,
• according to Asharq News.
• Israeli Defence Minister Gallant said the Israeli forces’ targeting of Iranian radars and air defence systems will help Israel if it decides to launch a new attack on Iran. Furthermore, he stated the recent Israeli attack led to a change in the balance of power
• with Iran and that Iran is no longer able to produce weapons and defend itself as in the past.
• Iranian representative to the UN Security Council said Israel and its US backer bear responsibility for the dangerous escalation in the region and most of the bombs that Israel drops on civilians are made by the United States. Iran’s envoy added the US government is complicit in the Israeli aggression and will be punished for its action, while they reserve the right to respond to Israeli aggression at a time of their choosing.
• Yedioth Ahronoth reported ongoing talks for a settlement in Lebanon are at an advanced stage with US envoy Hochstein leading these efforts and plans to visit Israel and Lebanon. Western sources said Hezbollah agreed to separate the Lebanon file from Gaza and Hezbollah got the green light from Iran to retreat to northern Litani, while the new proposal includes the deployment of the Lebanese army in the south and begins with a 60-day cessation of hostilities by Israel and Hezbollah, according to Sky News Arabia.
• CIA Director floated a 28-day Gaza ceasefire and hostage deal in Doha, according to Axios. It was also reported that the CIA Director and Qatari PM are starting to develop the idea of a partial agreement in the Gaza Strip, while Israel agreed to a temporary ceasefire, but Hamas wants a halt that leads to irreversible Israeli steps, according to Axios and Al Jazeera.
• Israel’s parliament passed a bill to ban the UNRWA from operating inside of Israel.
• UN Secretary-General Guterres said if Israel’s laws on UNRWA are implemented, it could have devastating consequences for Palestine refugees in occupied Palestinian territory which is unacceptable, while he added there is no alternative to the UNRWA and it is indispensable.

Geopolitics: Other

• North Korea is ready for another military satellite launch thanks to Russia’s technological support, according to Yonhap citing South Korea’s spy agency. Furthermore, the report noted that North Korea sent 4,000 workers to Russia this year, while certain high-ranking military officials and troops deployed to Russia might move to the frontline.
• Pentagon reportedly suffers from a shortage of air defense missiles due to growing demand and fears running out of interceptor missile stockpile, while the shortage jeopardises US interests in the Pacific, according to WSJ

US Event Calendar

• 08:30: Sept. Retail Inventories MoM, est. 0.5%, prior 0.5%
  • Sept. Wholesale Inventories MoM, est. 0.1%, prior 0.1%
• 08:30: Sept. Advance Goods Trade Balance, est. -$96b, prior -$94.3b
• 09:00: Aug. S&P/Case-Shiller US HPI YoY, prior 4.96%
  • S&P/CS 20 City MoM SA, est. 0.20%, prior 0.27%
  • S&P CS Composite-20 YoY, est. 5.10%, prior 5.92%
• 10:00: Sept. JOLTs Job Openings, est. 8m, prior 8.04m
• 10:00: Oct. Conf. Board Consumer Confidence, est. 99.5, prior 98.7
  • Oct. Conf. Board Present Situation, prior 124.3
  • Oct. Conf. Board Expectations, prior 81.7
• 10:30: Oct. Dallas Fed Services Activity, prior -2.6

DB’s Jim Reid concludes the overnight wrap

Back from treetop climbing, zipwires over lakes, daredevil water slides, kayaking and a bolt-on trip to Woburn Safari Park. All good high wire training for the appraisal season that’s has now kicked off here at DB.

Talking of appraisals, it’s now only one week to go to the US election, with prediction, betting and financial markets increasingly leaning towards a Trump victory. Yesterday saw 10yr US yields rise +4.2bps, not helped by a pair of softer Treasury auctions, and despite an outsized -6% drop in oil prices. Elsewhere, the Trump Media and Technology Group rose +21.59% to its highest level since June and Bitcoin has traded at $71k overnight, also the highest level since June after being as low as 53k in the first week of September.

The momentum has shifted a reasonable amount over the last couple of weeks as FiveThirtyEight’s model still had Harris having a 54% probability of victory on October 15, but that’s since reversed and now Trump is a 54% probability to win. The recent Treasury sell-off also likely incorporates the increased probability of a Republican clean sweep, and potentially unconstrained fiscal power. The Republican sweep probability on Polymarket.com was at 28% as recently as October 4 but is now 48% as we type. Over 45 million people have already voted so one side probably already has some momentum, but we won’t of course know who until at least after the polls close next Tuesday night.

It’s very rare to see such a big rise in US yields on a day that oil fell as much as it did (-6.09% for Brent) after Israel’s strikes on Iran on Saturday were focused on military targets rather than any oil facilities. The fall in oil, which was the largest since August 2022, did help drive broad gains for the S&P 500 (+0.27%) with 70% of its constituents higher on the day. The index is now less than 1% away from its last all-time high on October 18. The notable exceptions from the positive mood were energy (-0.65%) and information technology (-0.07%) stocks. The latter came as the Mag-7 (-0.13%) saw a slight decline, mostly due to Tesla (-2.48%) losing some ground after its impressive gain last week. By contrast, the Russell 2000 (+1.63%) posted a solid advance, while the KBW Bank index (+2.15%) rose to its highest level since March 2022. In Europe, the STOXX 600 (+0.41%), the CAC 40 (+0.79%) and the DAX (+0.35%) were also comfortably higher. Attention will swiftly turn to earnings now, including Alphabet due after the US close today.

The moves in Treasuries were fairly uniform across the curve with 2yr yields +3.4bps higher, leaving 2 and 10yr yields at their highest levels since August 1 and July 24, respectively. 10yr real yields (+4.2bps) also moved up to a three-month high of 1.99%. The bond move wasn’t helped by a pair of slightly soft Treasury auctions. A 2yr auction saw the highest primary dealer take-up since December, while 5yr notes were issued +1.6bps above the when issued yield with the primary dealer take up the highest since May. So some signs of investors being more price sensitive in their exposure to Treasuries. Showing how this was perhaps more of a fiscal story or supply story yesterday, rather than an inflation one, at least as a first order effect, the US 2yr inflation swap was down -3.1bps to 2.40%, and of course helped by the slump in oil.

Moreover, with expectations of looser fiscal policy, that’s led investors to keep dialling back how many rate cuts they expect from the Fed next year, and markets are now pricing in their most hawkish path since the market turmoil kicked off back in the summer. For instance, the rate priced in for the December 2025 meeting moved up to 3.54%, having been as low as 2.78% back in mid-September.

Staying with fiscal policy, the Treasury’s latest borrowing estimates were issued late in the US session. This saw borrowing estimates of $546bn for Q4 (down from the previous $565bn estimate) and $823bn for Q1 2025, both of which were somewhat smaller than our rates strategists’ expectations. So a bit better news for bonds but one that awaits a new President.

With a Trump victory increasingly being priced in by markets, this is leaving the current market dynamic in a pretty different place to 2016. Back then, Trump was widely considered the underdog across prediction models and betting markets. So given his victory came as a big shock, it was hardly surprising there was a significant market reaction, with Treasury yields surging over the days afterwards, as the 10yr yield rose by over 40bps over the next three sessions. But this time around, the impact is being increasingly priced in already, so using that 2016 playbook carries risks given the different context, as it’s difficult to believe a Trump victory would be a major surprise in the same way. On that topic, Henry put out a note yesterday thinking about how the market reaction might play out based on previous elections.

Talking of fiscal yet again, back in Europe, attention is increasingly turning towards tomorrow’s UK budget, and gilts continued to underperform their counterparts in Europe ahead of that. For instance, the 10yr gilt yield was up +2.1bps to 4.25%, and the spread of 10yr gilt yields over bunds bounced back to 197bps, less than 1bp from last week’s peak that was the widest spread in the last 12 months. By contrast, yields across the rest of Europe moved lower, including those on 10yr bunds (-0.5bps), OATs (-3.3bps) and BTPs (-1.8bps).

Overnight Asian equity markets are relatively quiet and mixed. The Nikkei (+0.64%) is rising for the second consecutive session, and the S&P/ASX 200 (+0.34%) is also up. Chinese stocks are generally underperforming with the CSI (-0.60%) and the Shanghai Composite (-0.65%) both in negative territory, but with the Hang Seng (+0.38%) breaking higher as we type after being as high at +1% at the open but in negative territory by lunchtime. The KOSPI and US equity futures are flat. US Treasury yields have fallen back around -1.5bps across most of the curve this morning.

Early morning data from Japan showed a fall in the unemployment rate from 2.5% to 2.4% in September, along with a slight increase in the job availability ratio to 1.24, indicating strong labour demand.

In FX, the Japanese yen (+0.20%) is recovering from a multi-month low against the dollar, trading at 152.95. Meanwhile, Yuichiro Tamaki, leader of the Japan Democratic Party for the People (DPP), has opposed further rate hikes by the Bank of Japan (BoJ) following strong election results over the weekend.

To the day ahead now, and data releases in the US include the JOLTS job openings for September and the Conference Board’s consumer confidence for October. Meanwhile in the UK, there’s mortgage approvals for September. Otherwise, earnings releases include Alphabet, Visa, McDonald’s and Pfizer.

2B) European report.

2C ASIAN REPORT

Mixed trade into numerous large & mega-cap earnings alongside US data – Newsquawk Europe Market Open

Tuesday, Oct 29, 2024 – 02:26 AM

• APAC stocks were ultimately mixed alongside a lack of fresh catalysts heading into this week’s key data releases.
• European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 0.5% on Monday.
• In FX, DXY is steady, JPY is attempting to claw back recent losses, antipodeans marginally lag, EUR/USD remains on a 1.08 handle.
• The Israeli cabinet decided there could be another response against Iran soon, according to Channel 13.
• Looking ahead, highlights include US Advance Goods Trade Balance, Wholesale Inventories, US Consumer Confidence, JOLTS, BoC Governor Macklem & Rogers, Supply from UK, Germany & US.
• Earnings from McDonald’s, Pfizer, PayPal, D.R. Horton, Phillips 66, Royal Caribbean, MSCI, Corning, Sysco, Alphabet, Visa, AMD, Stryker, Chubb, Mondelez, Chipotle, EA, Snap, ASM International, Saint Gobain, Ferrovial, Santander, Novartis, Clariant, BP, Pearson, Deutsche Lufthansa, Covestro & OMV.

SNAPSHOT

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

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

US TRADE

EQUITIES

• US stocks predominantly closed in the green with outperformance in small caps, while the Nasdaq gave up its early gains as tech sold off. Most industries gained with financials leading the advances although Tech and Energy lagged and were the only sectors to close lower with the latter weighed on by tumbling crude prices in the aftermath of Israel’s response to Iran which was seen as ‘moderate’ as it only focused on military targets and avoided oil or nuclear facilities.
• SPX +0.27% at 5,824, NDX unch. at 20,351, DJIA +0.65% at 42,388, RUT +1.63% at 2,244.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Treasury Financing Estimates showed US Treasury expects to borrow USD 546bln (prev. 740bln Q/Q) in Q4, assuming end of December cash balance of USD 700bln (prev. USD 850bln Q/Q), while the borrowing estimate is USD 19bln lower than the Q4 estimate announced in July 2024. Furthermore, it expects to borrow USD 823bln in Q1 2025, assuming an end-March cash balance of USD 850bln (Goldman Sachs expected USD 753bln, assuming a quarter-end cash balance of USD 750bln).

APAC TRADE

EQUITIES

• APAC stocks were ultimately mixed despite the initial tailwinds following the mostly positive handover from Wall St, with gains in the region capped and some markets were choppy owing to a lack of fresh catalysts heading into this week’s key data releases.
• ASX 200 was led by strength in gold stocks after the precious metal extended on advances, while sentiment was also supported by M&A activity with Myer to acquire apparel brands from Premier Investments.
• Nikkei 225 recouped opening losses and extended higher amid recent currency weakness and lower unemployment.
• Hang Seng and Shanghai Comp traded mixed with the former underpinned by tech strength and as participants reflected on earnings releases, while the mainland index swung between gains and losses as EV and child-related policy initiatives were counterbalanced by frictions after the US issued final rules to curb US investments in AI, semis and other tech sectors in China.
• US equity futures were contained as participants awaited a slew of upcoming key data releases and earnings results.
• European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 0.5% on Monday.

FX

• DXY was uneventful as newsflow from the US remained quiet ahead of this week’s slew of key data releases stateside including JOLTS, GDP, Core PCE & NFP, while the US election and the latest Fed meeting are scheduled for the following week.
• EUR/USD traded sideways after its recent reclaim of the 1.0800 status but with little catalysts for a further upward boost.
• GBP/USD lacked conviction after having recently eased back from resistance at the 1.3000 level.
• USD/JPY faded some of the post-election advances and briefly reverted to the sub-153.00 territory.
• Antipodeans were lacklustre amid a quiet calendar, mixed risk appetite and an overall uneventful mood in the FX space.

FIXED INCOME

• 10yr UST futures were little changed after the prior day’s flimsy mood and with prices not helped by soft 2yr and 5yr auctions, while the Treasury financing estimates failed to impact markets as the attention turns to upcoming data and a 7yr auction.
• Bund futures sat above the 133.00 level following yesterday’s rebound with further upside contained ahead of a Bobl auction.
• 10yr JGB futures struggled for direction amid the ongoing political uncertainty in Japan and after data showed a surprise decline in Japan’s Unemployment Rate, while the mostly stronger results from the 2yr JGB auction failed to inspire a bid.

COMMODITIES

• Crude futures attempted to nurse some of the losses after slumping by more than 5% the prior day in reaction to Israel’s moderate response to Iran although the recovery gradually waned after WTI hit resistance at the USD 68.00/bbl level.
• US DoE announced a new solicitation for up to 3mln bbls of oil for delivery to the Strategic Petroleum Reserve from April 2025 through to May 2025.
• Spot gold edged higher and looked to retest last week’s all-time highs but then stalled in choppy trade.
• Copper futures were subdued after recent indecision and with prices not helped by the tentative risk sentiment.

CRYPTO

• Bitcoin advanced overnight following a return above the USD 70k level for the first time since June and briefly reclaimed the USD 71k level before paring some of the gains.

NOTABLE ASIA-PAC HEADLINES

• Japanese PM Ishiba is said to seek a partial coalition with the DPP. In relevant news, Japanese DPP head Tamaki said they will push the government towards policies that increase take-home pay and want to enact at least one or two of their policies, while he favours an extra budget to respond to the aftermath of the Noto earthquake. Tamaki said they have not heard from the LDP about a partial coalition and are exchanging information with the LDP, CDP and Ishin, while he waits for the LDP response on a possible coalition but declined to join the LDP-Komeito ruling coalition and does not understand what a partial coalition would mean. Furthermore, Tamaki said the BoJ should avoid big policy change for now with real wages at a standstill and can review monetary policy if there is certainty that wage growth will exceed 4% at next year’s wage negotiations, according to Reuters and Nikkei.
• Auto and tech industry groups asked the US Commerce Department for more time before implementing Chinese software and hardware restrictions, while it was also reported that the Mexican government noted the Biden administration’s proposed connected car rules could disrupt the auto supply chain from China.
• UK is reportedly open to restarting China trade talks, according to POLITICO.

DATA RECAP

• Japanese Unemployment Rate (Sep) 2.4% vs. Exp. 2.5% (Prev. 2.5%)
• Japanese Jobs/Applicants Ratio (Sep) 1.24 vs. Exp. 1.23 (Prev. 1.23)

GEOPOLITICS

MIDDLE EAST

• Israeli PM Netanyahu said they have not received an offer to release 4 hostages in exchange for a 48-hour ceasefire in Gaza, according to Asharq News. It was separately reported that Israeli PM Netanyahu is waiting to see who will succeed President Biden before committing to a diplomatic path, according to NYT.
• Israeli Defence Minister Gallant said the Israeli forces’ targeting of Iranian radars and air defence systems will help Israel if it decides to launch a new attack on Iran. Furthermore, he stated the recent Israeli attack led to a change in the balance of power with Iran and that Iran is no longer able to produce weapons and defend itself as in the past.
• Israel’s Channel 13 reported that following the UAV strike on PM Netanyahu’s residence last week, the cabinet decided there could be another response against Iran soon and noted that two days after their repentance operation and the IDF attack on Iran, the working assumption in the security establishment is that there will be an Iranian response. However, the report added that it seems Tehran has not yet decided whether and how to attack, while the security establishment assessment is that Iran is not interested in acting immediately.
• Iranian representative to the UN Security Council said Israel and its US backer bear responsibility for the dangerous escalation in the region and most of the bombs that Israel drops on civilians are made by the United States. Iran’s envoy added the US government is complicit in the Israeli aggression and will be punished for its action, while they reserve the right to respond to Israeli aggression at a time of their choosing.
• It was initially reported that Israel seeks a deal with Lebanon in exchange for measures to prevent the rearmament of Hezbollah and to cancel the expansion of the ground operation in exchange for a sea, land and air embargo on Lebanon, while it aims for a 60-day ceasefire during which the details of a full agreement will be reached, according to Al Jazeera citing Israel Channel 12. However, Israel PM Netanyahu’s office denied holding consultations with Washington to prevent expanding fighting in Lebanon for 60 days and said there is no retreat from fighting in Lebanon before ensuring Hezbollah’s exit from the south, according to Al Arabiya.
• Yedioth Ahronoth reported ongoing talks for a settlement in Lebanon are at an advanced stage with US envoy Hochstein leading these efforts and plans to visit Israel and Lebanon. Western sources said Hezbollah agreed to separate the Lebanon file from Gaza and Hezbollah got the green light from Iran to retreat to northern Litani, while the new proposal includes the deployment of the Lebanese army in the south and begins with a 60-day cessation of hostilities by Israel and Hezbollah, according to Sky News Arabia.
• Senior member of the Gaza abductees’ deal negotiating team resigned due to a lack of progress on the deal, according to Israel Broadcasting Corporation cited by Sky News Arabia.
• CIA Director floated a 28-day Gaza ceasefire and hostage deal in Doha, according to Axios. It was also reported that the CIA Director and Qatari PM are starting to develop the idea of a partial agreement in the Gaza Strip, while Israel agreed to a temporary ceasefire, but Hamas wants a halt that leads to irreversible Israeli steps, according to Axios and Al Jazeera.
• Israel’s parliament passed a bill to ban the UNRWA from operating inside of Israel.
• UN Secretary-General Guterres said if Israel’s laws on UNRWA are implemented, it could have devastating consequences for Palestine refugees in occupied Palestinian territory which is unacceptable, while he added there is no alternative to the UNRWA and it is indispensable.

OTHER

• North Korea is ready for another military satellite launch thanks to Russia’s technological support, according to Yonhap citing South Korea’s spy agency. Furthermore, the report noted that North Korea sent 4,000 workers to Russia this year, while certain high-ranking military officials and troops deployed to Russia might move to the frontline.
• Pentagon reportedly suffers from a shortage of air defense missiles due to growing demand and fears running out of interceptor missile stockpile, while the shortage jeopardises US interests in the Pacific, according to WSJ

EU/UK

NOTABLE HEADLINES

• ECB’s de Guindos said the price outlook is surrounded by substantial risks and inflation is to decline to the target next year. De Guindos reiterated official ECB rate guidance and noted that domestic inflation remains high through moderating, while he added that risks to the growth outlook are elevated and tilted to the downside.

DATA RECAP

• UK BRC Shop Price Index YY (Oct) -0.8% vs Exp. -0.5% (Prev. -0.6%)

3B NORTH KOREA/SOUTH KOREA

NORTH KOREA/RUSSIA/USA

3C JAPAN

BRICS/

3D. CHINA

This should re inflate the world’s global economies

(zerohedge)

China Planning 10 Trillion Yuan In Extra Debt For Fiscal Stimulus; Oil, Commodities Rebound

Tuesday, Oct 29, 2024 – 09:15 AM

After suffering its biggest drop in two years after the latest iteration of the performative “war” between Israel and Iran ended with yet another dud, oil has rebounded and is 1.4% higher after a Reuters report that China is considering approving the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy, a fiscal package which is expected to be further bolstered if Donald Trump wins the U.S. election.

Citing two sources with knowledge of the matter, Reuters said that China’s top legislative body, the Standing Committee of the National People’s Congress (NPC), is looking to approve the fresh fiscal package, including 6 trillion yuan which would partly be raised via special sovereign bonds, on the last day of a meeting to be held from Nov. 4-8. The 6-trillion-yuan worth of debt would be raised over three years including 2024, said the sources, adding the proceeds would primarily be used to help local governments address off-the-books debt risks.

The planned total amount, to be raised by issuing both special treasury and local government bonds, equates to over 8% of the output of the world’s second-largest economy, which has been hit hard by a protracted property sector crisis and ballooning debt of local governments.

Oil prices climbed along with industrial metals on the Reuters report; WTI was up 1% near $68 a barrel while copper rises 0.9%.

The Reuters report was the first confirmation of speculation among financial analysts, who have said in recent weeks they expect Beijing to consider a 10 trillion yuan stimulus.

The spending plans suggest that Beijing has switched into a higher stimulus gear to prop up the economy although it’s still not  the 2008-like bazooka that some investors have been calling for. That said, after starting with a bang in late September, all subsequent Chinese stimulus reports have been whimper after whimper as Beijing failed to provide much needed details or clarity for what is actually coming, resulting in a sharp unwind of the 30% surge in Chinese stocks observed at the end of Q3.

Which may explain why the Reuters sources cautioned that the plans are not finalized yet and remain subject to changes; i.e., yet another dud may be on deck for a country which desperately needs trillion in stimulus yet has shown unprecedented restraint in actually putting money where its money is.

As part of its latest fiscal package, the NPC Standing Committee is also expected to greenlight all or part of up to 4 trillion yuan worth of special-purpose bonds for idle land and property purchases over the next five years, said the sources. Local governments would be allowed to raise that amount on top of their usual annual issuance quota, which mainly funds infrastructure spending. The quota stood at 3.9 trillion yuan this year and 3.8 trillion in 2023.

The latest move is aimed at enhancing local governments’ ability to manage land supply, and alleviate liquidity and debt pressures on both local governments and property developers, they added. Special-purpose bonds are a tool for off-budget debt financing used by Chinese local governments, with the proceeds raised typically earmarked for specific policy objectives, such as infrastructure expenditures.

Should the NPC Standing Committee approve these issuances in full instead of in stages, it could increase the total stimulus size to over 10 trillion yuan, they added. An average of 2 trillion yuan in new central government debt annually underscores an urgency in Beijing to shore up the economy. Late in 2023, China issued 1 trillion yuan in sovereign bonds to bolster flood-prevention infrastructure and meet its roughly 5% economic growth target.

China’s top legislative body generally holds its meeting every two months – in the second half of even-numbered months. As per the parliament’s 2024 work agenda, released in May, a standing committee session was planned for October. The forthcoming meeting was initially planned for late October before being rescheduled to early November, said one of the sources.

The meeting’s timing, which coincides with the week of the U.S. presidential vote on Nov. 5, offers Beijing greater flexibility to adjust the fiscal package including the total size, based on the election outcome, said the sources.

Reuters notes that Beijing may announce a stronger fiscal package if Trump wins a second presidency as his return to the White House is expected intensify the economic headwinds for China. Trump, who has gained in recent polls to erase much of the early advantage of Kamala Harris, has vowed to impose 60% duties on imports from China.

Beijing started this year with plans to issue 1 trillion yuan in special sovereign debt already in place, but that sum is widely expected to be increased as growth has been drifting off target and economists said a longer-term structural slowdown could be in play. All the same, the planned fiscal spending falls short of the firepower deployed in 2008, when Beijing’s 4 trillion yuan in fiscal stimulus in response to the global financial crisis accounted for 13% of GDP at the time.

The extra money fueled a property market frenzy and led to unfettered lending to local government financing vehicles, which municipalities used to get around official borrowing restrictions.

As part of the overall fiscal spending, China is also considering approving other stimulus initiatives worth at least one trillion yuan, such as a consumption boost including trade-in and renewal of consumer goods, said the sources. Another trillion yuan could also be raised via special treasury bonds for capital injection into large state banks, said one of the sources and another source with knowledge of the matter.

At the end of the day, however, even the 10 trillion yuan package may be insufficient to kickstart the economy. The reason, as explained in “Why China’s Rally Won’t Have Legs“, is that China’s peak credit impulse – the all important reflationary variable that propagates across the global economy – has dwindled, and so has the boost to growth.

In other words, to achieve the same level of stimulus as a % of GDP, China would need to inject tens of trillions more. And since it can’t do that, at least not without its middle class kicking and screaming (literally), China’s house price will continue to slide, having recently tumbled by a record YoY amount…

… and so on, until one day Beijing will have no choice but to unleash a real bazooka, one which will spark a reflationary tidal wave across the globe.

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

GREECE RHODES

The Greek island of Rhodes is suffering greatly under the weight of increasing migrant population and crimes.

Remix

“We Are At Breaking Point!” – Greeks Demand Action As Rhodes Suffers Under Weight Of Migrant Crisis

Tuesday, Oct 29, 2024 – 03:30 AM

Authored by Thomas Brooke via Remix News,

The picturesque Greek island of Rhodes is increasingly marred by the presence of illegal immigrants, sparking frustration among local residents who feel neglected by government inaction.

With an excess of more than 700 undocumented migrants above the asylum accommodation capacity limit reportedly settled in the city, many are now living in makeshift camps on sidewalks, in parks, and in cardboard boxes, creating an eyesore in the center of the island’s Old Town.

Manolis Androulakis, president of the South Dodecanese Police Officers Union, expressed the growing despair among law enforcement, stating, “The situation is at a breaking point. The police services are in danger of being disbanded. For an escort from Rhodes to other areas of the country, it takes us even 20 days!”

His remarks underline a broader sentiment that local police are overwhelmed and under-resourced in addressing the immigration crisis and concerns expressed to the government in Athens have fallen upon deaf ears.

Despite ongoing communication between various ministries, progress remains stagnant. Alexandros Koliadis, the mayor of Rhodes, highlighted the critical issues during a recent meeting of the South Aegean Regional Council, noting that a severe shortage of personnel in the Port Authorities and local police force is exacerbating the problem.

“The essential problem concerns the huge lack of personnel recorded in recent years,” Koliadis stated, pointing to a failure of the authorities to manage the influx effectively.

The local community’s patience has worn thin, with residents voicing their frustrations over the government’s lack of substantial action. “Our endurance and tolerance have reached the breaking point,” Androulakis said. “It is not possible for us to shoulder the entire burden of immigration while others look on indifferently.”

The grim living conditions faced by migrants are highly problematic. Many lack basic hygiene facilities and adequate shelter, forcing them to sleep in public areas.

Reports indicate that daily arrivals continue, further complicating the situation and making it evident that existing facilities are overwhelmed. A further 37 people and five traffickers from Turkey were detected on Tuesday.

Late last week, three Egyptian nationals were arrested and have had criminal charges brought against them for allegedly running a trafficking ring on the island. They are accused of having “leading” roles in a fledgling criminal gang in operation.

Calls for urgent action have intensified, with local leaders advocating for the transfer of migrants to facilities on the mainland, however, such moves are not being actioned as quickly as some would like.

“The transfer of 120 illegal aliens from Rhodes to Piraeus was arranged yesterday, but it never took place due to logistical issues. We cannot keep waiting,” Androulakis warned, as cited by the Rodiaki news outlet.

Read more here…

end

GERMANY

Germany, same problem!

(Remix)

“We’ve Reached Our Limit!” Berlin Police Chief Warns Of Unsustainable Immigration Amid Soaring Migrant Crime

Tuesday, Oct 29, 2024 – 06:30 AM

Authored by Thomas Brooke via Remix News,

Germany has reached its limit on immigration with migrant-related violent crime on the rise and resources strained, a leading law enforcement chief has claimed.

In an interview with RBB, Berlin Police Chief Barbara Slowik voiced concerns over the impact of immigration on the city and the broader nation, suggesting that the current levels of immigration are unsustainable, both financially and socially.

“I believe that a limit has been reached as to what is affordable,” she told the broadcaster.

She emphasized the need for a comprehensive societal response to address the growing number of violent incidents involving immigrants and underscored the importance of integrating immigrants into Germany’s democratic values from a young age, with programs beginning in kindergarten.

“This is important for our constitutional state and therefore for our democracy,” she added, insisting it was vital to restore law and order to help make German residents feel safer and instill public confidence back into law enforcement.

As reported by Tagesspiegel, Germany’s crime rate has risen 5.5 percent over the past year, with 5.94 million cases recorded. Notably, the increase in non-German suspects — up 17.8 percent compared to a 1 percent rise among German nationals — has prompted heightened attention to crime prevention.

These figures don’t tell the whole story, as they do not differentiate the number of perpetrators with German citizenship who have a migration background from those who are German-born. Naturalizations in Berlin have surged dramatically in 2024, more than tripling compared to last year, driven by the liberalization of German naturalization laws.

In the first eight months of this year, 28,716 foreign nationals in the city applied for German citizenship — up from 18,018 for the whole of 2023. This sharp rise is linked to a nationwide reform of the citizenship law, which now allows naturalization after just five years of residence in Germany, instead of the previous eight. In some cases, foreigners can apply after just three years.

Public schools in the German capital can no longer reimburse teachers for school trips due to budget constraints, but the local government increased its expenditure on migrant housing to €1.3 billion in the summer. https://t.co/zgKa4tZnEt

— Remix News & Views (@RMXnews) October 14, 2024

Berlin’s Interior Senator Iris Spranger recently announced intentions to expand police powers to enhance public safety. According to a spokesperson from the state interior ministry, upcoming amendments to the General Security and Order Act (ASOG) will broaden police authority, including granting officers access to biometric data, encrypted communications, and traffic data. These tools aim to improve crime prevention and address potential terrorism threats.

Additional measures under consideration include introducing electronic monitoring in high-risk cases, such as domestic violence. The proposed changes reflect a push toward using advanced technology to prevent crime more effectively.

Private security firms in Berlin are cashing in on the refugee crisis — earning millions from public contracts to secure migrant shelters. https://t.co/VQHQ6sO0Ax

— Remix News & Views (@RMXnews) October 8, 2024

Slowik also proposed the creation of a closed facility to house young migrant offenders temporarily — a proposal aimed at removing repeat juvenile offenders from environments that may foster crime and provide them with focused intervention.

However, a representative from the state interior ministry confirmed that no plans currently exist for such a facility.

Rea more here…

 

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

END

ISRAEL/IRAN

ISRAEL /SYRIA

Israel threatens al Assad that he may be next if he continues to allow arms transfer from Syria to Lebanon

(zerohedge/the cradle)

Israel Threatens Syria’s Bashar al-Assad: You Might Be Next

Monday, Oct 28, 2024 – 05:00 PM

Via The Cradle

Israeli government minister and war cabinet member Gideon Saar threatened Syria’s President Bashar al-Assad on Sunday, warning that he will be “in danger” if his country continues to act as a “conduit” for Lebanese resistance movement Hezbollah.

Saar – who rejoined Benjamin Netanyahu’s government late last month – said during a conference that Tel Aviv “missed an opportunity” to “collapse” Assad’s government, which was “saved” by Iran and Hezbollah. 

Syria must not be permitted “under any circumstances to be a conduit for weapons supply from Iran to Hezbollah,” the minister went on to say, adding that “Israel must make clear to Assad that if he chooses to harm Israeli security in this manner, he places his regime in danger.”

Israel “will not agree to Hezbollah’s renewed buildup of power through Syria, and will not agree to the opening of a front against it from Syrian territory,” he said. “Removing Assad from the Iranian axis will have far-reaching consequences for Israel’s security.” 

Israel was heavily involved in supporting extremist groups against the Syrian government at the start of the US-led regime change war against Damascus, which began in 2011. 

Fighters from Al-Qaeda’s Nusra Front were given Israeli air cover during the 2014 battles against Syrian government troops and Hezbollah in Quneitra. Wounded Nusra Front fighters were also treated at Israeli hospitals in the occupied Golan Heights. 

Over the past several years, Israel’s air force has been waging an unofficial campaign of indiscriminate attacks against Syria, which aim to stifle the flow of weapons from Iran via Syria to the resistance in Lebanon.

According to Lebanese analyst and journalist Khalil Nasrallah, this unofficial campaign – dubbed the ‘battle between wars’ – has failed. Israeli attacks on Syria have increased since the start of the war in Gaza and Lebanon in October last year. 

Since Israel’s massive escalation against Lebanon last month, nearly 2,000 people have been killed and over a million displaced. Israel has begun to target Lebanese–Syrian border crossings under the pretext that they are used to facilitate the delivery of Iranian weapons to Lebanon. 

Jeffrey Sachs: We fought trillions of dollars worth of wars at the behest of the Israel Lobby, at the behest of Netanyahu. Netanyahu was the great cheerleader for the Iraq War. He was the great cheerleader for overthrowing Syria. He’s been the cheerleader for a war with Iran that… pic.twitter.com/yuVa3robxi

— 🅰pocalypsis 🅰pocalypseos 🇷🇺 🇨🇳 🅉 (@apocalypseos) October 26, 2024

Hezbollah has promised its follower base recently that its military capabilities and weapons are in “great shape,” despite Israeli claims to the contrary. The group has not yet used its more sophisticated and destructive weaponry against Israel. 

END

ISRAEL/HEBOLLAH

Indiscriminate bombing kills an Israeli Arab and wounds 3 children

(JerusalemPost)

‘A difficult scene’: Hezbollah rocket kills Israeli Arab, wounds three children in northern Israel

Three others were wounded in the rocket fire and are in light condition.

By JERUSALEM POST STAFFOCTOBER 29, 2024 11:12Updated: OCTOBER 29, 2024 13:23

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-826615&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241029_6589b372083f18c9f7af6cf8f40f8cdea9d16d58&useBunnyCDN=0&themeId=140&unitType=tts-player

The MDA confirmed that a man was killed by a Hezbollah rocket on Tuesday in Ma’alot-Tarshiha in the Galilee region.

24-year-old Israeli Arab Mohammad Naim was killed by a direct hit to his house in the northern city, Ynet reported. A total of 13 others were wounded in the rocket fire and are in light condition, including three children, Ynet also said, citing the Galilee Medical Center in Nahariya, including those suffering from anxiety.

“It was a difficult scene. There was a lot of destruction when we arrived and started searching the scene. There was an unconscious man with no pulse,” MDA paramedic Gilad Ben Hamo said. “We gave him medical treatment, but his injury was too critical, and we had to pronounce him deceased.

מד"א: הרוג בפגיעה ישירה בבית במעלות תרשיחא | תיעוד אזור הפגיעה @CBeyar
(צילום: שימוש לפי סעיף 27 א') https://t.co/YaMpjOdslV pic.twitter.com/DAfPTUbn02

— כאן חדשות (@kann_news) October 29, 2024

“MDA teams are providing treatment on scene to a number of victims with anxiety,” he continued. He also said that a 13-year-old boy sustained shrapnel injuries to his lower limbs.

Further activities by Hezbollah on Tuesday

Around the time of the man’s death, the IDF reported that between 10:37 and 10:39, about 50 rockets from Lebanon were fired into Israeli territory, which was the barrage where one of the rockets killed Naim.

Also, around the same time, Hezbollah announced Naim Qassem as the terrorist organization’s new chief.

END

ISRAEL HEZBOLLAH/HAMAS

Any they rightly should outlaw them!

(JerusalemPost)

Israel outlaws UNWRA, bucking international pressure

The bills passed 92-10, with support from the opposition parties National Unity, Yisrael Beytenu, and Yesh Atid. The Democrats party abstained.

By ELIAV BREUEROCTOBER 28, 2024 21:14Updated: OCTOBER 28, 2024 22:43

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-826525&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241028_d6963dac672ea010d673b6ad912b755eda4f7b33&useBunnyCDN=0&themeId=140&unitType=tts-player

The Knesset plenum approved final voting for two bills aimed at blocking the activity in areas under Israeli control of the UN Relief and Works Agency, which services Palestinian refugees in east Jerusalem, Gaza, and the West Bank.Knesset Foreign Affairs and Defense Committee chairman MK Yuli Edelstein presented both bills in the plenum. According to Edelstein, UNRWA’s operations “eternalized” the issue of Palestinian refugees.

In addition, Edelstein cited the fact that UNRWA employees had participated in, and even served as commanders, in the October 7 Hamas massacre. Edelstein also mentioned incitement in UNRWA school curriculums. According to Edelstein, the time had come to ban the agency from Israel.

Edelstein did not address in his speech who would replace the services UNRWA provides for Palestinians in east Jerusalem, Gaza, and the West Bank.

After the bills passed, Edelstein called the bills “historic” and the “elimination of one of the arms of terror that acted under UN auspices.”

“UNRWA long ago ceased to be a humanitarian aid agency, but in addition to it being an integral supporter of terror and hate, is an agency to eternalize poverty and suffering. The rationale is simple – in order to survive, UNRWA created demand for the product it provides. The circle of horror ended today, they are out!” Edelstein concluded.The two bills are an amalgamation of five bills that were proposed by a large number of members of Knesset, from both the coalition and opposition, indicating broad support.

The first bill states that UNRWA will no longer “operate any institution, provide any service, or conduct any activity, whether directly or indirectly,” in Israel.

What do the bills state? 

The second bill states that the treaty between Israel and UNRWA, signed following the Six Day War in 1967, will expire within seven days of the bill passing its final voting in the Knesset plenum; that no Israeli government agencies or representatives may contact UNRWA or a representative of it, beginning three months after the bill passes; that criminal proceedings into UNRWA employees’ involvement in acts of terror will continue; and that Israel’s National Security Council must report to the committee every six months regarding the bill’s implementation.

The first bill passed 92-10, with support from the opposition parties National Unity, Yisrael Beytenu, and Yesh Atid. The Democrats Party abstained. The second bill passed 87-9.

Edelstein told The Jerusalem Post earlier this week that the first bill relates just to east Jerusalem, since the other areas under Israeli control are not officially part of sovereign Israel, and the second broad one cancels the invitation to UNRWA to operate in any area under Israeli control and bars Israeli officials from engaging with it.

One of the bill’s authors, MK Dan Illouz (Likud), said the Jerusalem Ministry had plans in place to take over UNRWA’s responsibilities in east Jerusalem. The ministry said in response to a query that regarding education, the ministry and Jerusalem Municipality are acting to create “alternative education sites in the immediate time range,” and “founding permanent educational institutions in the long run.”

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Regarding health services, the ministry was acting together with the Health Ministry and Jerusalem Municipality to provide “health solutions” to people who used UNRWA’s services. The ministry was also working with the municipality to “examine the need for alternatives in the field of cleanliness and sanitation.”

The ministry added that it had “filed a request for approval” for funding from the Budget Department, and the Finance Ministry will “convene relevant teams to approve the plans” and set a timetable.

The ministry added, “It should be noted that that process consists of two waves, one directed at the short term and the other at the long term.”

“As the ministry that is responsible for coordinating the government decision to find alternatives to UNRWA, and alongside the Education and Health ministries and the Jerusalem Municipality, we are prepared to provide a solution so that there will not be a single child without an educational framework at the stage of the bill’s implementation, and no person will be left without an alternative health framework.”

In addition, according to Illouz, the three-month interim period was intended to replace UNRWA’s operations in the West Bank and Gaza with other agencies, which will be independently funded and will not be a budgetary burden on Israel. Illouz said that plans were being formulated by the Coordination of Government Activities in the Territories (COGAT) to this effect, but that the information was classified.

Another author of the bills, Likud MK Boaz Bismuth, wrote in a statement following the bill’s passage, “UNRWA is not an agency to aid refugees, it is an aid agency for Hamas!”

Bismuth also mentioned the “chilling” footage of Yonatan Smarno being kidnapped from the Nova music festival on October 7 by what Bismuth said was an UNRWA social worker. Smarno’s father was present in the Knesset visitors’ balcony during the votes.

The Knesset’s Arab MKs, as well as members of the left-wing Democrats party, opposed the bill.

Hadash-Ta’al chairman MK Ayman Odeh responded by pointing out what he said was the “irony” that Israel opposed the fact that the descendants of Palestinian refugees retained their refugee status and claimed a “right of return,” but at the same time maintained that Jewish refugees expelled 2,000 years ago had a “right of return” to the Land of Israel.

MK Ahmad Tibi, also of Hadash-Ta’al, said there were 90,000 UNRWA workers who supplied services to Palestinian refugees, and outlawing all of them was a de-facto attempt to “harm the Palestinian people.”

According to Tibi, UNRWA can be shut down when the Palestinian refugee problem is solved by the formation of a Palestinian state.

The bills were passed into law despite immense international pressure to the contrary. Foreign ministers from Canada, Australia, France, Germany, Japan, South Korea, and the United Kingdom issued a joint statement this week expressing their “grave concern” over the shutdown, particularly in light of the dire humanitarian situation in Gaza due to the war.

“It is crucial that UNRWA and other UN organizations and agencies be fully able to deliver humanitarian aid and their assistance to those who need it most, fulfilling their mandates effectively,” they said.

US State Department spokesperson Matthew Miller warned that passage of the legislation could have consequences for Israel .

“We have made quite clear to the Government of Israel that we are deeply concerned” by its steps against UNRWA, Miller said.

US Secretary of State Antony Blinken raised the issue in a letter he sent to Israel earlier this month, Miller said, as he referenced a document that warned the US council restrict military aid to Israel under the terms of Memorandum 20 unless it took steps to improve the humanitarian crisis in Gaza. The US views UNRWA as a important humanitarian aid provider for the Palestinians.

Blinken “made clear in that letter” that “passage of this legislation could have implications under US law and US policy that remains the case.” he said.

US Secretary of State Antony Blinken also spoke with Israeli officials last week about the importance of ensuring that UNRWA remains operational. In addition, the Biden administration mentioned the importance of maintaining UNRWA operations, in a letter it wrote Israel in October threatening to restrict military assistance to the IDF as dictated under Memorandum 20 unless Israel took steps to alleviate the humanitarian crisis in Gaza.

The bills also passed despite fears that the international community could seek retribution by taking steps against it at the United Nations. Among the possible political actions at the UN could be a push to strip the Jewish state of voting rights at the General Assembly or the credentials of the Israeli mission to the UN could be stripped.

MK Sharren Haskel (National Unity), who was the initial initiator of the law to end UNRWA’s activities in Israel, spoke in the Knesset plenum following its approval in the second and third readings:

“The passing of this law, which I initiated over six years ago, is a milestone and a closing of a circle for me, and I congratulate all my fellow initiators on its approval. Israel has full and absolute right to act against UNRWA, after the failure of the international community. The organization, founded in sin and fundamentally corrupted, lies at the heart of the Israeli-Arab conflict. We will never succeed in moving forward as long as this organization and its definition exist. I call on the countries of the world to abandon their support for the organization and to work with us towards the complete closure of UNRWA.”

END

ISRAEL /HAMAS/

Israel will ignore international ire. UNRWA had employees who were also Hamas terrorists

(JerusalemPost)

Int’l ire at Israel for outlawing UNRWA in Jerusalem, Gaza, West Bank

International backlash erupts as Israel passes legislation to shut down UNRWA operations, with US warning of ‘implications’ while EU and allies condemn move amid Gaza humanitarian crisis.

By TOVAH LAZAROFF, ELIAV BREUEROCTOBER 29, 2024 02:49

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-826557&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241028_d6963dac672ea010d673b6ad912b755eda4f7b33&useBunnyCDN=0&themeId=140&unitType=tts-player

The international community lashed out at Israel on Monday night after the Knesset overwhelmingly passed two bills that would effectively shut down the United Nations Relief and Works Agency operations in east Jerusalem, Gaza, and the West Bank.

“Passage of this legislation could have implications under US law and US policy,” US State Department spokesperson Matthew Miller told repeaters in Washington.

He noted that US Secretary of State Antony Blinken had already warned Israel against taking such a step in a letter he wrote Israel earlier this month detailing actions Israel had to take to improve humanitarian conditions in Gaza or risk restricted military assistance.

UNRWA plays “an irreplaceable role right now in Gaza, where they are on the front lines getting humanitarian assistance to the people that need it.  There’s nobody that can replace them right now in the middle of the crisis,” Miller said.

EU Foreign Policy Chief Josep Borrell said he was “gravely concerned.” Such a step is in “stark contradiction to international law and the fundamental humanitarian principle of humanity.” He warned that the cessation of UNRWA operations would “only exacerbate an already severe humanitarian crisis, potentially halting essential services such as food, shelter, education and healthcare for millions of Palestinian refugees in these territories.”

‘Totally wrong’

British Foreign Secretary David Lammy said it was “totally wrong” to close UNRWA. “Alongside international partners, the UK has been clear Israel must ensure UNRWA can deliver aid at the speed and scale needed to address the humanitarian emergency in Gaza.”

The Israeli Right has long opposed UNRWA, warning that it helps ensure an ever-expanding population of refugees and taking issue with incitement and antisemitism in the education material in its schools.

Opposition to UNRWA in Israel has grown in the last year as the government has charged that some of the organization’s staff were involved in the kidnapping of Israelis on October 7 and that other staff members are Hamas and Hezbollah operatives.

UNRWA operates under a mandate from the UN General Assembly, and only that body can shut it down. Israel, however, has the power to close its operations in the territory it controls, and on Monday night, it passed legislation that would shutter the organization within 90 days.

In doing so, it has not provided an alternative to the $1.2 billion in services that UNRWA provides. It is possible that under international law, Israel would now have the financial responsibility to finance those services.

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Ireland, Norway, Slovenia, and Spain — countries that unilaterally recognized Palestinian statehood this year — issued a joint statement against the move.

Belgium spoke out, saying this sets a “very serious precedent for the work of the United Nations and for all organizations of the multilateral system. ” On Sunday, in advance of the vote, seven countries issued a joint statement in support of UNRWA: Canada, Australia, France, Germany, Japan, South Korea, and the United Kingdom.

Nabil Abu Rudeineh, the spokesperson for Palestinian Authority President Mahmoud Abbas, called on the international community to take “decisive action” against the dangerous legislation.

UNRWA Director-General Philippe Lazzarini wrote on X, “This is the latest in the ongoing campaign to discredit UNRWA and delegitimize its role towards providing human-development assistance and services to #Palestine Refugees. Putting an end to UNRWA & its services will not strip the Palestinians of their refugee status. That status is protected by another UN General Assembly resolution until a fair and lasting solution is found to the plight of the Palestinians,” he stated.

END

ISRAEL/HAMAS/UN

they must be removed from the line of fire

(JerusalemPost)

Austria says eight UNIFIL troops wounded in Lebanon rocket attack, IDF says Hezbollah responsible

UNIFIL later confirmed that a rocket that hit its headquarters in Naqoura was fired from the north, likely by Hezbollah.

By YONAH JEREMY BOB, MAYA GUR ARIEHOCTOBER 29, 2024 15:59Updated: OCTOBER 29, 2024 18:50

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Eight Austrian soldiers belonging to the UN peace-keeping force in Lebanon (UNIFIL) sustained slight and superficial injuries in a rocket strike on Camp Naqoura near the Israeli border, Austria’s Defense Ministry said on Tuesday.

“We condemn this attack in the strongest possible terms and demand that it be investigated immediately,” the ministry said in a statement, adding that it was not clear where the attack came from, and none of the soldiers needed urgent medical care.

Later on Tuesday, an IDF source told The Jerusalem Post that Hezbollah was responsible for firing rockets at the UNIFIL soldiers. 

The IDF told the Post that it is accusing UNIFIL of a double standard, as there have been several incidents in the past where Hezbollah killed UNIFIL soldiers in Lebanon. 

UNIFIL confirmed that a rocket that hit its headquarters in Naqoura was fired from the north, likely by Hezbollah or an affiliated group.

A former UN Truce Supervision Organization soldier testified that UNIFIL was “totally subject to Hezbollah” when he worked in Lebanon 10 years ago in an interview with Danish news site B.T. in October. 

In an earlier instance, in June of 2023, a Lebanese military tribunal formally accused five Hezbollah terrorists of killing an Irish UN peacekeeper in 2022. 

The five accused are among seven already charged by Lebanon’s judiciary in January, but a new court document filed on Thursday identifies some of them as members of Hezbollah, the terrorist group that controls the part of southern Lebanon where the attack took place.

Danielle Greyman-Kennard and Reuters contributed to this report. 

END

ISRAEL LEBANON/HEZBOLLAH

Lebanon health ministry reports nearly 50 killed in Israeli strikes on Baalbek

By AFP and ToI Staff

Lebanon’s health ministry says at least 48 people were killed on Monday in Israeli raids on several areas in Baalbek in the eastern Bekaa Valley, where terrorist group Hezbollah holds sway.

The health ministry says the tolls covered several areas in the Baalbek region as its governor Bachir Khodr decries what he calls the “most violent” raids on the area since fighting between Israel and Hezbollah markedly intensified in the past month.

END

ISRAEL HOUTHIS/USA

Houthis target 3 ships in the Red Sea. After Hezbolla and Gaza battles end, Israel will go after these guys.

(reuters)

Yemen’s Houthis target 3 ships in Red Sea and Arabian Sea

By Reuters28 October 2024, 11:57 p

A supporter of Yemen’s Houthis holds a sign showing the faces of Palestinian Hamas’s slain leaders Ismail Haniyeh and Yahya Sinwar and Lebanese Hezbollah’s slain leaders Hassan Nasrallah and Hashem Safieddine, during an anti-Israel rally in solidarity with Gaza and Lebanon in the Houthi-controlled capital Sanaa on October 25, 2024. (Mohammed HUWAIS / AFP)

Yemen’s Houthis say that they targeted three ships in the Red Sea and Arabian Sea, attacks they called part of their efforts to enforce a naval blockade on Israel.

Houthi military spokesperson Yahya Sarea says in a televised address that the vessels were targeted for attempting to approach ports bound for Israel.

According to the latest data from LSEG, all three targeted vessels were Liberia-registered.

One of the vessels, identified by the Houthis as Motaro, was last seen off Yemen’s western coast in the Red Sea, en route from Egypt’s Suez Canal to Shanghai, according to LSEG data.

Another vessel, the SC Montreal, was reportedly targeted in the Arabian Sea while travelling from Seychelles’ Port Victoria to Salalah, Oman.

The third vessel, the Maersk Kowloon, was tracked by LSEG in the western Indian Ocean, also en route from Salalah.

Earlier today, British maritime security firm Ambrey reported two explosions near a merchant vessel travelling 14 nautical miles southwest of Yemen’s Al Dhubab.

Ambrey’s report followed initial statements from the UK Maritime Trade Operations (UKMTO) agency, which received information about three explosions related to an incident 25 nautical miles south of Yemen’s port of Mokha, but confirmed that the ship and crew were safe and had continued to their next port of call.

Yemen’s Houthis said they will continue these actions until Israel halts its offensive on Gaza and Lebanon. This poses significant risks to commercial shipping in the region, a critical route for global trade linking the Red Sea to the Gulf of Aden.

END

ISRAEL/HAMAS

WOW!

‘A complete surprise’: IDF surrounds remaining terrorists in north Gaza, 600 surrender

The remaining terrorists in the northern Gaza Strip had gathered in Jabalya, prompting the military to encircle the area.

By AVI ASHKENAZIOCTOBER 29, 2024 08:20Updated: OCTOBER 29, 2024 09:07

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-826573&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241028_d6963dac672ea010d673b6ad912b755eda4f7b33&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF’s military operation in Jabalya in the northern Gaza Strip came as a surprise to the terrorists in the area, the military said on Monday. 

“The surprise for Hamas was complete. We trapped hundreds of terrorists inside the camp, including senior operatives,” the IDF said, adding that the terror group had used the population as human shields for over a week and had shot at the legs of residents who attempted to escape. 

According to the IDF, the remaining terrorists in the northern Gaza Strip had gathered in Jabalya, prompting the military to encircle the area, evacuate the civilian population, isolate the terrorists, and prevent them from escaping. 

Within hours, in a single night, the army surrounded the area.

Three brigades surrounded the camp: the 460th, Givati, and the 401st.  The 460th Brigade, which reached schools and shelters, reported that this approach allowed them to evacuate five thousand residents. By the following day, twenty thousand more had left, and forces said that the residents’ “fear barrier was broken.”

The IDF stated that fifty thousand residents have left.

Approximately 600 terrorists surrendered and turned themselves in, while hundreds of others were eliminated in the refugee camp. 

The Kamal Adwan Hospital, the last location from which Hamas was able to operate in Jabalya, was encircled by the 460th Brigade. This prevented Hamas from regrouping before the encirclement was completed.

Some 60 terrorists surrendered, and 20 were eliminated while attempting to flee the hospital.

Troops from Shayetet 13 entered the hospital and captured an additional 60 terrorists who were hiding in the hospital wards and were using patients as human shields. 

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At least one detainee posed as a staff member and was found to have participated in the October 7 massacre.

The decision to operate in the hospital came as a result of intelligence, which showed that the hospital served as a Hamas command center, housing dozens of terrorists.

The IDF estimated that only a few hundred terrorists remain in the center of the refugee camp. 

Currently, the IDF is closing in on the center of the camp, but the military said that, despite the fighting in the camp not being fully completed, “the story of Jabalya is no longer what it was just a few days ago.”

‘On the verge of breaking’

According to the IDF, Hamas’s tactics in Jabalya include an increase in the use of explosives and guerrilla warfare.

“These are not the battalions and companies we saw at the beginning of the fighting a year ago. They are on the verge of breaking. Their combat capability is significantly lower. In the first round, we didn’t see 600 terrorists surrendering,” the IDF said. 

However, the full encirclement of the area is what trapped the terrorists, preventing them from escaping as they had in the past.

On Tuesday, the military said ground troops of the 162nd Division had eliminated dozens of terrorists in Jabalya and destroyed terror infrastructure. 

end

ISRAEL/HAMAS

A new mini hostage deal is now on the table

(JerusalemPost)

New mini-hostage deal on table that would pause Gaza war

The proposed deal would see Hamas releasing eight hostages in exchange for dozens of Palestinian prisoners.

By TOVAH LAZAROFFOCTOBER 29, 2024 03:12Updated: OCTOBER 29, 2024 08:41

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-826559&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241028_d6963dac672ea010d673b6ad912b755eda4f7b33&useBunnyCDN=0&themeId=140&unitType=tts-player

Negotiators in Doha discussed a new partial hostage deal this week that would allow for a temporary ceasefire in exchange for the release of a limited number of hostages, the Jerusalem Post has learned.

The talks were held with CIA Chief William Burns, Mossad Chief David Barnea, and Qatari Prime Minister Mohammed Al-Thani.

They were the first such discussions to be held in two months. 

The Axios news reported that the ceasefire would last for 28-days in exchange for eight hostages. A source confirmed to The Jerusalem Post said that the proposal Barnea put forward in Doha “went in this direction.”

Until the end of August, hostage negotiations had centered on a three-phase deal for the release of the 101 captives that would have seen up to 32 of them freed in exchange for a six-week pause to the war, with the remainder freed in further phases of the deal.

Hamas’s execution of six hostages, including Israeli-American captive Hirsch Goldberg-Polin, at the end of August had put an end to those talks. The US had blamed Hamas leader Yahya Sinwar for the absence of a deal. Israel’s assassination of Sinwar two weeks ago has given negotiators home that it might be possible to advance some kind of an agreement.

Egyptian President previously offered deal that would have seen release of only four hostages

Egypt President Abdel Fattah El-Sisi on Sunday had said he was promoting a mini deal by which four hostages would be freed in exchange for a pause to the war.

Netanyahu’s Office clarified that if a proposal to release four hostages in exchange for a 48-hour ceasefire in Gaza “were made, the Prime Minister would accept it on the spot.”

In a close-door meeting Netanyahu told the Likud faction on Monday that he believed that while a full deal was not possible, a partial one could be attainable and that this was the direction of the talks at this time.

“Hamas is putting forward conditions that we can’t agree to,” Netanyahu said, adding that it now seemed that “those conditions could be rescinded.

---

---

“If they are retracted, it won’t be because Hamas wants to retract them, but because there would be a pause to the war” that would allow for Hamas to leave the tunnels where they have been hiding, he said.

“That is what we are discussing right now, and it’s possible we could succeed,” Netanyahu said.

He spoke during a closed-door meeting, but a leaked tape of the conversation was published by KAN News.

end

ISRAEL/HEZBOLLAH

Lebanon says 60 killed in Israeli strikes; drone hits ISRAELI Nahariya train station

(Times of Israel)

Video shows Hezbollah drone striking pedestrian bridge at Nahariya train station

By Emanuel Fabian FollowToday, 8:20 am

Footage posted to social media shows the Hezbollah drone impact in Nahariya a short while ago.

The dashcam video shows the explosive-laden drone striking the cables of a pedestrian bridge at Nahariya’s train station.

No injuries were caused in the attack, but shrapnel rained down on the area, causing slight damage to a train carriage.

The IDF says it is investigating.

New footage shows the Hezbollah drone impact in Nahariya this morning.

The dashcam video shows the drone striking the cables of a pedestrian bridge at Nahariya's train station.

No injuries were caused in the attack, but shrapnel rained down on the area, causing slight damage… pic.twitter.com/IDqrMPihE9

— Emanuel (Mannie) Fabian (@manniefabian) October 29, 2024

END

Lebanon drone hits Nahariya train station, causing damage

By Emanuel Fabian

A drone launched from Lebanon impacted near Nahariya’s train station a short while ago.

Shrapnel caused slight damage to one of the train carriages.

The IDF says the incident is under further investigation.

Sirens had sounded in the area amid the incident.

A drone launched from Lebanon impacted near Nahariya's train station a short while ago.

Shrapnel caused slight damage to one of the carriages.

The IDF says the incident is under further investigation. pic.twitter.com/hkviXVhn52

— Emanuel (Mannie) Fabian (@manniefabian) October 29, 2024

HEZBOLLAH/ISRAEL

Report: Progress on deal to end fighting in Lebanon

Smoke billows in Kafr Kila on October 28, 2024. (Diana Bletter/Times of Israel)

Senior Israeli officials tell Ynet there is progress on an agreement to end the fighting in Lebanon.

The sources say the deal, under discussion with international mediators, would see a 60-day “adaptation period” during which the sides would cease fire and work toward implementing UN Resolution 1701, which ended the 2006 Second Lebanon War.

The deal would see enforcement of the resolution, with Hezbollah prevented from having a presence near the border.

It would also include an international oversight system to check and address reports of violations. Israel would reserve the right to take military action if the Lebanese military or UN forces fail to address violations.

Finally, the deal would seek to prevent a rearming of Hezbollah, banning the entry of various weapons into Lebanon, Ynet says.

There is no outside confirmation of the report.

end

ISRAEL/HEZBOLLAH

Countdown begins!

Hezbollah Names New Leader, & Israel Warns “Countdown” To His Death Has Begun

Tuesday, Oct 29, 2024 – 01:00 PM

Hezbollah has named a new leader, appointing Deputy Secretary-General Sheikh Naim Qassem to take over the Shia paramilitary group allied to Iran. He replaces Hassan Nasrallah as secretary-general, who was killed by heavy Israeli airstrikes in southern Beirut on September 27.

The man widely believed to have been initially ready to take the top spot, Hezbollah official Hashem Safieddine, was also killed in Israeli airstrikes earlier this month.

According to Hezbollah, Qassem has selected due to his “adherence to the principles and goals of Hezbollah,” as quoted in Al Jazeera. The Shia Muslim group said it would ask “God Almighty to guide him in this noble mission in leading Hezbollah and its Islamic resistance.”

The 71-year-old Qassem is a cleric who helped found Hezbollah in the early 1980s and he was already long dubbed Hezbollah’s number two leader.

In the wake of the pager attack which killed and wounded dozens of Hezbollah members last month, Qassem had announced, “We are quite ready, if the Israelis want a ground incursion, the resistance forces are ready for that.”

He had also called out and condemned the United States as “a partner with Israel, through unlimited military support – culturally, politically, financially” – vowing ultimately “We will win, just as we won in our confrontation with Israel in 2006.” According to a review of his background:

Qassem, Hezbollah’s new leader, was born in 1953 in southern Lebanon. He served as a Shiite cleric and educator until the late 1970s, when he joined the Amal terror group and political party during the Lebanese civil war.

When a number of Amal members split from the party to found Hezbollah in 1982, Qassem followed and was appointed deputy leader in 1991 under founding leader Abbas al-Musawi, who was killed by an Israeli helicopter attack the following year.

Qassem remained in his role when Nasrallah became leader in 1992, and served as his deputy until Nasrallah’s death.

He was clearly already the group’s leading spokesman at this point, but most view him as lacking the strong presence and charisma of Nasrallah.

Last month’s Israeli pager attack was the start of a series major setbacks and losses for Hezbollah in rapid succession. Hezbollah had been penetrated by Israeli intelligence, and its leadership and command structure somewhat thrown into disarray.

https://x.com/broletari/status/1851187931320361238

However, the Lebanese group – which actually has seats in parliament – has sought to present to the world and its allis in Iran, Syria, Iraq, and Yemen that its structure has been rapidly reconstituted. It has unleashed dozens or sometimes hundreds of rockets on northern Israel per day, and claims to have halted the advance of the Israeli ground offensive into southern Lebanon.

Israel is meanwhile already threatening to take out the newly appointed Hezbollah leader. Israel’s Defense Minister Yoav Gallant on Tuesday said of the election of Naim Qassem as Hezbollah chief that “the appointment is temporary and the countdown has begun” – which marks an obvious death threat.

Muhammad Ali praying behind Hezbollah Secretary General Sheikh Naim Qassem in Beirut 1985 pic.twitter.com/orLqL7Nkwj

— aziz (@broletari) October 29, 2024

UKRAINE/RUSSIA/USA

GEORGIA/RUSSIA/USA

Kremlin rejects election interference in Georgia

(zerohedge)

Georgia: Kremlin Rejects ‘Election Interference’ Charges As Tens Of Thousands Take To Streets

Tuesday, Oct 29, 2024 – 02:45 AM

Russia has blasted widespread allegations that it interfered in this past weekend’s parliamentary elections in Georgia. Instead, the Kremlin has turned the same accusation on the West. 

“We strongly reject these accusations. There was no intervention. These accusations are completely unsubstantiated,” Kremlin spokesman Dmitry Peskov said Monday.

“There are attempts to interfere, but not from Russia’s side,” Peskov emphasized. “A huge number of forces from European countries and various European institutions have tried to influence the outcome of the vote. No one was even hiding this, these were public statements.”

As we reviewed earlier:

In Georgia, the biggest ruling (and Kremlin-friendly) party Georgian Dream won 54% of the votes, according to the election commission. Its leader declared victory whilst the Georgian President, who is a supporter of greater EU-ties but lacks political power, called it a “Russian-style election”. At face value, it seems that Europe should not expect much rapprochement from the country any time soon.

Georgian President Salome Zourabichvili is actually calling on the West to support protests against the Georgian Dream party.

The opposition led by the United National Movement (UNM) is refusing to concede defeat, and officials in Washington and Brussels appear to be stoking anger – now spilling into the streets – claiming that “irregularities” in the election require an immediate and independent investigation.

And it hasn’t taken long for Western press to echo the accusations of Moscow’s interference. The Guardian issued a new headline saying that “In Georgia, Russia has just scored another victory against liberal democracy.”

🇬🇪Maidan2.0…

Make no mistake, not a single European leader thinks that Georgia is part of Europe or should be a member of the EU. These sponsored protests are not organic and are not supported by 80% of the country. So what’s so special about Georgia? Well, this attempt of… pic.twitter.com/h7dSIyFU7s

— Anna (@provemewrong411) October 28, 2024

All of this has been a huge victory for pro-Russian billionaire backer of Georgian Dream, Bidzina Ivanishvili. The Guardian has issued a litany of his and the party’s offenses as follows:

Even citizens already disillusioned with Ivanishvili were shocked when the government chose to side openly with Moscow against Kyiv in 2022. Ukraine had stood by Georgia through all of its wars, including the most recent Russian invasion in 2008. The government’s position felt like a betrayal.

In the ensuing years, GD has passed repressive Russian-style laws, launching brutal crackdowns on activists, targeting the LGBTQ+ community and unleashing dirty disinformation campaigns straight out of the Kremlin playbook. By 2024, hundreds of thousands were taking part in regular anti-government demonstrations led by the youth demanding that Georgia stay on its European course.

The election was seen as the only democratic way of getting the country out of Ivanishvili’s and Russia’s tightening embrace – it was perhaps the most pivotal vote in the country’s history since the independence referendum in 1991. Polls, including traditionally reliable exit polls, put the opposition in a clear lead. On the day of the vote, the turnout was so high that in some polling stations people queued for hours to cast their ballots.

The same report cites a pro-EU organization to claim that ahead of and during the vote there was “intimidation, coercion and pressure on voters” as well as claims of ballot stuffing. However, what is lacking is any kind of definitive, bombshell proof. Instead all of this is likely to lead to more outrage and mayhem in the streets as Georgian Dream is given another mandate.

Tens of thousands of protesters have filled up Tbilisi’s central squares overnight…

president of georgia called on citizens to protest the disputed election results to save the country’s “european future”

and the people of georgia delivered: pic.twitter.com/B8ad3AD9AW

— ian bremmer (@ianbremmer) October 28, 2024

The West has had its eye on tiny Georgia after its parliament this summer passed a bill on foreign agents. The legislation requires any foreign group receiving more than 20% of their funding from overseas to formally register as “agents of foreign influence”. Washington and Europe were outraged at the bill, which ironically looks much like similar laws in the US. Except in this case, US and EU-funded NGOs now have a harder time operating covertly inside Georgia.

end

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

GLOBAL ISSUES

MARK CRISPIN MILLER

DR PAUL ALEXANDER

Forwarded this email? Subscribe here for more UK for the win in INSANITY! Can I get an amen for UK! These morons arrested a man for QUIETLY praying inside his own head near an abortion clinic; court deemed his hands were clasped & his head bowed so the Brits arrested this British army veteran and convicted him of praying silently near abortion clinic! “All I did was pray to God, in the privacy of my own mind” yet I get convicted’ Dr. Paul AlexanderOct 29 READ IN APP  In its ruling this week, the court determined that Smith-Connor’s display outside the abortion clinic amounted to “disapproval of abortion” because “at one point his head was seen slightly bowed and his hands were clasped,” according to ADF International.___

SLAY NEWS

Unsealed Government Data Shows Deaths Surged Among Covid-Vaxxed ChildrenNewly unsealed official government data has exposed a devastating 188 percent surge in deaths among children after the Covid mRNA “vaccines” were rolled out for public use.READ MORE

Workers Fired for Refusing Covid ‘Vaccine’ Awarded Over $1 Million Each by CourtSeveral workers have been awarded over $1 million each in damages by a California court after they were fired for refusing to take Covid “vaccines.”READ MORE

Trump Plans to Flip Deep-Blue New York for First Time Since Reagan’s 1984 LandslidePresident Donald Trump has asserted that he will win the state of New York in November and flip a Democrat stronghold during next week’s critical presidential election.READ MORE

Kamala Harris’ Father Issued Warning About Mass Immigration in Published BookDemocrat presidential Kamala Harris’s academic father has previously issued a warning about one of his daughter’s only “achievements” as vice president.READ MORE

Kamala Harris Humiliated by Rally Hecklers as Campaign Enters Final StretchDemocrat presidential candidate Kamala Harris is struggling to win over voters as next week’s critical election draws near.READ MORE

Michelle Obama: Americans Who Refuse to Vote for Kamala Harris Are Racist & SexistMichelle Obama addressed the pressing issue of voter support for Democrat presidential candidate Kamala Harris, suggesting that sexism and racism may be at play.READ MORE

American Soccer Star Holden Trent Dies Suddenly at 25The world of professional sports finds itself in mourning yet again following the shock sudden death of American Major League Soccer (MLS) star Holden Trent.READ MORE

Trump Suggests He’s Open to Pardoning Hunter Biden, Kamala Harris Dodges QuestionAs President Donald Trump and Democrat presidential candidate Kamala Harris enter the final stretch in the last week before Election Day, some tricky questions have emerged.READ MORE

Russian Ship Loaded with Explosives Dubbed ‘Floating Megabomb’ Docks in UK PortA Russian ship loaded with over 22,000 tons of explosives has just docked in a UK port, according to reports.READ MORE

NEWS ADDICTS

WATCH: “Trump is beating the pants off of us with these so-called publicity stunts”Van Jones said tonight on Bill Marr’s HBO show that Trump is beating the pants off of Democrats with his so-called publicity stunts and suggests that Democrats need to have more fun. NEW: Van Jones says Donald Trump “is beating the pants off of us with these so-called publicity stunts” “I think it’s brilliant. I think it’s brilliant” “I think …READ THE FULL REPORT

Early Voting Results Are Coming in: This Is Great News for TrumpThe Trump campaign’s push for constituents to vote early may be paying off, as more Republicans and fewer Democrats are voting early. It’s a smaller early-vote lead for Democrats and a bigger turnout for Republicans compared to the 2020 election, which is cutting into the Democrats’ usual early-voting advantage. States in which voters can register by party saw 42 percent …READ THE FULL REPORT

There Was a Medical Emergency at Kamala’s Houston Rally. Here’s How These Abortion Doctors Responded.Vice President Kamala Harris held a rally in Houston on Friday to promote her campaign’s obsession on abortion. She was also there campaign for Democratic Rep. Colin Allred, who is looking to unseat Republican Sen. Ted Cruz. The event also featured a crowd of abortionists on stage, though they raised some eyebrows with their response to an actual medical emergency …READ THE FULL REPORT

Tucker Carlson Lights Up the NYC Crowd at Madison Square GardenIn a packed Madison Square Garden, conservative commentator Tucker Carlson took to the stage and delivered one of the best speeches that resonated with supporters, hammering home his criticisms of the current Democratic establishment, election fraud, and what he describes as a “liberation” for Americans unafraid to speak out against systemic injustices. Carlson highlighted the bravery and resilience of former …READ THE FULL REPORT

Robert Kennedy Jr. Electrifies NYC Crowd at Madison Square GardenRobert F. Kennedy Jr. fired up a crowd of Trump supporters with a powerful message of unity, populism, and fierce criticism of today’s Democratic Party. Kennedy, the son of former Attorney General Robert F. Kennedy and nephew of President John F. Kennedy, painted a vivid picture of the Democratic Party’s transformation from a champion of peace, civil rights, and the …READ THE FULL REPORT

EVOL NEWS

Ballots Set on Fire in Three States as Election Day ApproachesTwo fires at ballot drop boxes in Portland, Oregon, and Vancouver, Washington, led to police responses early on Oct. 28, with one fire resulting in the destruction of potentially hundreds of ballots.READ THE FULL REPORT

Man who shot Orthodox Jewish man and shouted “Allahu Akbar” was another Kamala illegal who came from Africa in 2023An Orthodox Jewish man was shot in the shoulder multiple times on Saturday in Chicago and the assailant, who shouted “Allahu Akbar”, then proceeded to get into a firefight with police after they and EMS had arrived to aid the victim. In the video below the Muslim man can been seen emerging from a secluded area to fire at first …READ THE FULL REPORT

‘World’s Most Accurate Economist’ Predicts Presidential Election WinnerThe “world’s most accurate economist” is predicting Donald Trump will win the presidency and that Republicans are likely to take full control of Congress on Nov. 5. Christophe Barraud, the chief economist and strategist at Market Securities Monaco, also says a Trump win could boost the economy short-term but pose longer-term complications, particularly with the soaring deficit. “Looking at different …READ THE FULL REPORT

Tim Walz Had Fling with Chinese Communist Official’s Daughter During 1989 Teaching StintVice-presidential candidate Tim Walz reportedly had a fling with the daughter of a Chinese Communist Party official’s daughter while he was in China, according to a new report. The Daily Mail reported that when Walz took a trip to China in 1989 to teach, he had a fling with the daughter of a high-ranking Communist official at the time. Jenna …READ THE FULL REPORT

Biden Waits in Line to Vote Behind Guy Wearing Pro-Trump Hat with Special Message to VotersPresident Joe Biden has voted early in the presidential election months after he dramatically dropped out and Kamala Harris replaced him on the Democratic ticket. The 81-year-old president joined the almost 50 million Americans who have already cast their ballots in what could be one of the closest races in history. The polls are deadlocked with just eight days left …READ THE FULL REPORT

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

“On One Level, The Entire US Election Echoes The Simpsons”

Tuesday, Oct 29, 2024 – 02:40 PM

By Michael Every of Rabobank

As we enter the final week of the US election -we hope it’s the final week, not a 2020 or 2000 rerun, as the Nevada, Pennsylvania, and Virginia supreme courts already feature- things are splenetic. However, parsing the early-vote data, Trump continues to have a spring in his step; or a Springtime in his goosestep, say some US media in a manner that won’t help political stability if he wins a week from now. (Remember when New York loved this show?)

USA Today just refused to endorse a presidential candidate, and the Washington Post’s refusal to do so either saw key staff threaten to quit and 200,000 subscribers cancel, prompting owner Jeff Bezos to pen an unapologetic op-ed that states: “In the annual public surveys about trust and reputation, journalists and the media have regularly fallen near the very bottom, often just above Congress. But in this year’s Gallup poll, we have managed to fall below Congress. Our profession is now the least trusted of all. Something we are doing is clearly not working… Presidential endorsements do nothing to tip the scales of an election. No undecided voters in Pennsylvania are going to say, “I’m going with Newspaper A’s endorsement.” None. What presidential endorsements actually do is create a perception of bias. A perception of non-independence. Ending them is a principled decision, and it’s the right one.” The whisper is that Bezos is preparing to hire more conservative journalists to balance out the paper’s coverage: what does that suggest about which way he sees the political winds blowing?  

It’s also the time of the election cycle when policy promises get wilder. We’ve had $25,000 cheques for first-time homebuyers (to push up the prices of new homes by $25,000); tax incentives for small businesses and young families; massive US tariffs (which ‘may remove income tax’!); 10 new US ‘freedom cities’ on federal land; mass deportations; slashing the federal payroll like Musk did at X; reworking America’s food and pharma industries; no tax on tips, overtime, or social security; and Trump just freewheeled that, “They have them paying tax on crypto and I don’t think that’s right. Bitcoin is money and you have to pay capital gains tax if you use it to buy a coffee? I was talking with a friend, he said, “It really shouldn’t be taxed,” and I agree. Maybe we get rid of taxes on crypto and replace it with tariffs. No tax on crypto but only on tokens made in the USA. We want tokens made here at home; we don’t want the Chinese tokens. We say get those Chinese tokens out of here.”

On one level, the entire US election echoes The Simpsons: “OK, here’s what we’ve got: the Rand Corporation, in conjunction with the Saucer People, under the supervision of the reverse vampires, are forcing our parents to go to bed early in a fiendish plot to eliminate the meal of dinner. We are through the looking-glass here people.”

On another level, it further backs the view that huge structural changes loom for the US and global economic and financial architecture if what some see as a coin-toss election comes up either heads or tails, depending on your call.

What if Trump introduces ‘US crypto’ and ‘foreign crypto’ is banned alongside high tariffs? It amplifies what I’ve been warning since 2017: a US trade decoupling from the rest of the world chokes off dollar flows to global exporters, making the buck hard to get offshore. At the same time, it would be easy to get onshore if Trump decides he sets rates along with the Fed; and if he opts to use a ‘Trump-coin’ as a new form of US-only liquidity, the US sees an even bigger inflationary boom as the rest of the world sees deflationary doom.

Think about that, and it’s not a total surprise that although oil was up and US 10-year yields marginally down this morning in Asia, yesterday saw oil plunge while US yields moved higher. Understand that could be just a precursor of what lies ahead as the international political-economy pivots or even fragments, and, yes, we are through the looking-glass. It’s just that some people don’t want to look.

On that note, German auto giant VW is to close three plants there with the loss of thousands of jobs and cut salaries by 10%. Recall the “slow agony” Draghi warned of (which we had flagged much earlier), and the immediate German reaction of “Nein, danke”? It’s happening, just not as slowly as slow learners might have kidded themselves.

Meanwhile, as Chancellor Scholz’s team hit India to try to find a new basket to put its economic eggs in, Economy Minister Habeck received public criticism from Commerce Minister Piyush Goyal, who stated, “We should stop buying German equipment now” given a German firm making a product in China which India wants to import can’t supply it as China won’t allow it: Habeck was forced to say, “I think I should listen to you.” A balm might be if German firms open in India with technology transfer, as in China; but that will create clashes with their China arms; and in another few years, workers at firms in Germany might have to take even larger pay cuts. Foreign Minister Baerbock also looked surprised on landing in India to what looked like no official welcome, but finding her way to the meeting, she told the press Germany has a “great need” for skilled workers, and India has a great many of them, which is a “win-win-win”. Just not for Germans then told they are losing their jobs, getting 10% pay cuts, or young and without skills.

That headline just ahead of the VW news should make markets think about how well the populist right-wing AfD and left-wing BSW are going to do in the next election, so what any future German government will be able to do. That might be a problem soon as the Frankfurter Allgemeine Zeitung reports severe tensions in the coalition, and that “the three alpha males [in relative terms given Germany is a geopolitical beta] are now merely playing to see who loses their temper first… There is hope that this government will end at the latest in three weeks.”

Whenever the German election held, it won’t see the panoply of wild election promises the US has, many of which are extremely bad for Germany. In fact, without moving towards the ‘Draghi revolution’, or away from a Germanic monomania for balanced budgets as the roof falls in, what can any of the mainstream parties propose to voters that differs from what they have been doing so far? ‘We prefer the red deckchairs on the Titanic.’ ‘The green ones are nearer the orchestra.’ ‘But the yellow ones have the best view!’ All populists have to do is wait, perhaps.

Markets observers are trying to look at similar themes in China as Bloomberg reports ‘Xi Stimulus Clues Found in Protest Data Showing Economic Stress’. In short, some money managers are using data put together by a Chinese ex-dissident living in Canada tracking social instability. The view is that when the number of these incidents rises too high, the government will open the stimulus taps: “Somebody got grabbed for wearing a Scream mask! Go long stocks!” This flows from the same China-watching talent pool that won’t read Marx, Lenin, Mao, or Xi Jinping Thought, as I‘ve warned repeatedly is necessary in this political-economy; so thought Common Prosperity was a “regulatory shift”; and are here projecting a model onto China (“When the people get unhappy, the government spends big!”) that they reject as the policy solution in Western democracies. China has scheduled its Standing Committee of the National People’s Congress from November 4-8 to review the State Council report on financial works. That this overlaps with the US election should not be taken as coincidence.

The irony is if we were to see huge Chinese stimulus, and then a Trump one, the inflation that would result would ensure the rates and market shocks we got in 2022-23 –and the Western populism seen so far– would both look like warm up acts.

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 TUESDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR:  1.0809 DOWN 0.0006

USA/ YEN 153.40 UP 0.256 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 1.2988 UP .0014

USA/CAN DOLLAR:  1.3884 DOWN 0.0004 (CDN DOLLAR UP 4 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 35.79 PTS OR 1.08%

 Hang Seng CLOSED UP 101.78 PTS OR 0.49%

AUSTRALIA CLOSED UP 0.33%

 // EUROPEAN BOURSE:     MOSTLY GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  MOSTLY GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 101.78 PTS OR 0.49%

/SHANGHAI CLOSED DOWN 35.79 PTS OR 1.08%

AUSTRALIA BOURSE CLOSED UP .33%

(Nikkei (Japan) CLOSED UP 298.15 POINTS OR 0.77%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2750.10

silver:$34.13

USA dollar index early TUESDAY  morning: 104.24 UP 6 BASIS POINTS FROM  MONDAY’s CLOSE.

TUESDAY  MORNING NUMBERS ENDS

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And now your closing  TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.723%  UP 0 in basis point(s) yield

JAPANESE BOND YIELD: +0.978% up 5 AND 3/ 10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.012 UP 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.534 UP 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.3170 UP 4 BASIS PTS

END

IMPORTANT CURRENCY CLOSES :   TUESDAY  

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

Euro/USA 1.0800 DOWN .0018 OR 18 basis points

USA/Japan: 153.41 UP .271 OR YEN IS UP 27 BASIS PTS//

Great Britain 10 YR RATE 4.329 UP 7 BASIS POINTS //

Canadian dollar DOWN .0008 OR 8 BASIS pts  to 1.3887

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The USA/Yuan,  CNY ON SHORE CLOSED DOWN 7.1371 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.1545)

TURKISH LIRA:  34.30 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +0.978

Your closing 10 yr US bond yield UP 3 in basis points from MONDAY at  4.309% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.565 UP 4 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 4.168 UP 3  BASIS PTS.

GOLD AT 11;00 AM 2762.00

SILVER AT 11;00: 34.30

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

London: CLOSED DOWN 66.61 PTS OR 0.80%

German Dax :  CLOSED DOWN 53.55 OR 0.27%

Paris CAC CLOSED DOWN 45.83 PTS OR 0.61%

Spain IBEX CLOSED DOWN 108.70 OR 0.91%

Italian MIB: CLOSED DOWN 90.35 OR 0.36%

WTI Oil price  71.86 12 EST/

Brent Oil:  76,05 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  97.39 ROUBLE UP 0 AND  30/100      

GERMAN 10 YR BOND YIELD; +2.3170 UP 4 BASIS PTS.

UK 10 YR YIELD: 4.329 UP 7 BASIS POINTS

CDN 10 YEAR RATE: 3.313 UP 5 BASIS PTS.

CDN 5 YEAR RATE: 3.087 UP 5

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0812 DOWN 0.0006 OR 6 BASIS POINTS

British Pound: 1.3008 DOWN 0.0029 OR 29 basis pts

BRITISH 10 YR GILT BOND YIELD:  4.3380 UP 4 BASIS PTS//

JAPAN 10 YR YIELD: 0.982

USA dollar vs Japanese Yen: 153,43 UP .291 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.3923 UP 0.0034 CDN dollar DOWN 34 BASIS PTS

West Texas intermediate oil: 67.17

Brent OIL:  71.11

USA 10 yr bond yield DOWN 1 BASIS pts to 4,273

USA 30 yr bond yield DOWN 1 BASIS PTS to 4.519%

USA 2 YR BOND: DOWN 2 PTS AT  4.119

CDN 10 YR RATE 3.290 UP 0 BASIS PTS

CDN 5 YEAR RATE: 3.064 UP 0 BASIS PTS

USA dollar index: 104.19 UP 1 BASIS POINTS

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

USA DOLLAR VS RUSSIA//// ROUBLE:  97.50 UP 0 AND  20/100 roubles

GOLD  2,772.30 3:30 PM

SILVER: 34.43 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 154.06 PTS OR 0.36%

NASDAQ UP 199.58 PTS OR 0.98%

VOLATILITY INDEX: 19,48 DOWN .32 PTS OR 1.62%

GLD: $256.09 UP 2.26 OR 1.09%

SLV/ $31.39 UP .66 OR 1.09%

TORONTO STOCK INDEX// TSX INDEX: DOWN 41.31 PTS OR .17%

end

USA AFFAIRS

USA TRADING TODAY IN GRAPH FORM

‘Trump Trade’ Goes Turbo: Bitcoin & Bullion Hit Record Highs, Tech & TSY Yields Rise

Tuesday, Oct 29, 2024 – 04:00 PM

As the big day gets closer – and despite the catalyst-heavy week ahead – the so-called ‘Trump Trade’ continues to charge higher in stocks, crypto, bond yields, and gold…

The Trump Trade in stocks is roaring…

Source: Bloomberg

The other Trump Trade?

Source: Bloomberg

Gold exploded to a new record high…

Source: Bloomberg

Bitcoin hit a new record high…

Source: Bloomberg

…and if global money supply is anything to go by, Bitcoin could top $100k before this leg is done…

Source: Bloomberg

BTC ETF flows have been enormous in the last two weeks…

Source: Bloomberg

Ethereum has been lagging Bitcoin recently, but based on the cryptocurrency’s historically tight relation to inflation expectations, ETh could be about to leg higher…

Source: Bloomberg

And Treasury yields hit their highest since July 5th this morning before rolling back over…

Source: Bloomberg

Coming back to stocks, the Republican policy basket is dramatically outperforming the Democrat policy basket…

Source: Bloomberg

Mega-Cap tech is outperforming (ahead of GOOGL tonight and more of the MAG7 later in the week)…

Source: Bloomberg

That pushed Nasdaq up 1% on the day as Small Caps and The Dow lagged…

Most Shorted stocks actually had a down day (after three big squeezes higher)…

Source: Bloomberg

The dollar ended the day unchanged but coiled up in a very methodical way during the US session…

Source: Bloomberg

Intraday, Treasury yields ended the day practically unchanged – but not before roller-coastering higher during the European session and lower (yields) during the US session…

Source: Bloomberg

Breakevens are running significantly higher too…

Source: Bloomberg

Oil prices ended lower again – despite a small rebound after yesterday’s bloodbath – with WTI testing a $67 handle…

Source: Bloomberg

With a week to go until the election, we note that pump prices are tumbling… notably – and mysteriously – decoupled from wholesales gasoline and crude prices…

Source: Bloomberg

Finally, USA Sovereign risk remains extremely elevated…

Source: Bloomberg

Is this the ultimate Trump Trade?

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

US Home Prices Remain Near Record Highs… As Mortgage Rates Re-Surge

Tuesday, Oct 29, 2024 – 09:09 AM

With mortgage rates re-accelerating, the housing market faces another (worsening) affordability crisis – all since The Fed cut rates – and just to add some more pain to that, S&P CoreLogic’s Case Shiller data for August (released today) shows home prices in the top 20 cities in America rising 0.35% MoM (hotter than the 0.20% expected). However, despite the beat, home prices rose just 5.2% YoY (down from 5.93% in July) and the fifth straight monthly slowdown in the YoY growth…

Source: Bloomberg

That is the lowest YoY growth since September 2023… but we note that home prices remain near record highs…

Source: Bloomberg

The pace of home price appreciation continues to track bank reserves at The Fed (lower on a lag)…

Source: Bloomberg

Of course, the funniest thing is that as price appreciation actually begins to slow (a good thing for affordability at the margin), The Fed has slashed interest-rates (which one would expect will juice home prices once again?).

But despitye the initial drop in mortgage rates, they have soared recently back above 7.00%…

Source: Bloomberg

Will The Fed ignite another housing bubble and re-heat CPI in an Arthur-Burns-esque 1970s redux?

end

Trump victory?

Conference Board Surveys Signals Surge In Consumer Confidence In October

Tuesday, Oct 29, 2024 – 10:13 AM

After plunging by the most in three years in September, analysts expected a small rebound in The Conference Board’s consumer confidence in October. Instead of a small rebound, confidence exploded higher with the headline rising from 99.2 to 108.8 (vs 99.5 exp).

A measure of expectations for the next six months rose 6.3 points in October to 89.1 while a gauge of present conditions increased more than 14 points to 138…

Source: Bloomberg

This was the biggest MoM jump in Present Situation since May 2021…

Source: Bloomberg

In an odd mix – survey respondents expect higher inflation, higher bond yields, AND higher stocks…

Source: Bloomberg

At the same time, it appears The Fed’s rate-cut has sparked a renewed hope to purchase a car or a home (good luck given that mortgage rates and auto loan rates are actually higher since the 50bps cut)…

Source: Bloomberg

The Board’s labor market indicator showed the jobs situation improve considerably after an ugly few months…

Source: Bloomberg

Not exactly the kinds of ‘bad news’ that prompts more rate cuts anytime soon!?

end

A six sigma downward move in the JOLTS jobs openings. The economy is in worse shape than thought

(zerohedge)

Shocking Drop In Job Openings After Massive Downward Revision; Quits Plunge To 8 Year Low

Tuesday, Oct 29, 2024 – 10:46 AM

Last month, when Kamala Harris still had some chance of winning the election, we were not surprised to learn that according to the extremely political Bureau of Labor Statistics, in August the number of job openings unexpectedly soared from an upward revised 7.7 million to 8.040 million, which was not only a 3-sigma beat to expectations, but was also above the highest Wall Street forecast. Fast forward to today, when Kamala’s chance of winning are effectively zero – as even the suddenly apolitical Jeff Bezos now admits – and shockingly moments ago the BLS reported that in September, the number of job openings  plunged from over 8 million to just 7.4 million, the lowest since early 2021…

… a staggering 6 sigma miss to expectations, and a number which came below the lowest estimate; in fact as shown below, in just one month we have gone from a staggering beat to one of the biggest misses on record!

There’s more: not only was the drop in job openings a whopping 418K, it would have been far worse had the BLS not revised the August print sharply lower, from 8.04 million to 7.861 million. And for those who keep track of the infinite downward revisions at the Biden Department of Goalseeked Government Data, where every strong data point is quietly revised down to flat or negative in subsequent months, this is what the JOLTS revisions look like now.

According to the BLS, the number of job openings decreased in health care and social assistance (-178,000); state and local government, excluding education (-79,000); and federal government (-28,000) but increased in finance and insurance (+85,000)

Amusingly, after we mocked last month’s stunning surge in construction job openings just as a record chasm had opened between the manipulated number of construction jobs and openings…

… which meant the biggest monthly surge in construction job openings on record at a time when the housing market has effectively frozen thanks to sky high interest rates, a simply glorious paradox of manipulated bullshit data…

… the BLS realized that it had to make an adjustment after getting called out, and Construction Job openings tumbled by 40K to 288K and once again rapidly approaching the post-covid lows. Oh, and yes, the number of “construction jobs” is about to fall off a cliff just as soon as Orange Man Bad enters the White House.

Setting the glaring data manipulation aside, in the context of the broader jobs report, in September the number of job openings was 690K more than the number of unemployed workers, slightly down from the previous month and not too far from inverting once again, similar to what happened during the covid crash.

And while the job openings collapse was a shocking return to the contraction observed for much of 2024, the one silver lining was in the number of hires which rebounded by 123K to 5.558 million, just above the post-covid lows.

That, however, was not matched by the other closely followed category, the number of quits, which in September tumbled to 3.071 million, not only a new post-covid low and down by 107K from August, but a number first recorded back in October 2016, which means that true state of the job market is about as “strong” as it was 8 years ago, when US GDP was about $10 trillion lower. Quits decreased in professional and business services (-94,000) but increased in state and local government, excluding education (+22,000) and in real estate and rental and leasing (+18,000).

Finally, no matter what the “data” shows, let’s not forget that it is all just estimated, and it is safe to say that the real number of job openings remains still far lower since half of it – or some 70% to be specific – is guesswork. As the BLS itself admits, while the response rate to most of its various labor (and other) surveys has collapsed in recent years, nothing is as bad as the JOLTS report where the actual response rate remains near a record low 33%

In other words, more than two thirds, or 70% of the final number of job openings, is made up!

III USA ECONOMIC NEWS

State Department Alerts Congress: Iranian Spy Teams Are Attempting To Assassinate Former Trump Officials

Tuesday, Oct 29, 2024 – 01:40 PM

The Washington Free Beacon has obtained a non-public notice sent from the State Department to congressional leaders last week about Iranian spies actively hunting and planning assassination attempts on two senior officials from the Trump administration. We initially reported on this emerging threat in March under the headline, “Iranian Assassin On The Loose In America, Targeting Trump-era Officials.” This threat appears ongoing, with the Biden-Harris administration’s open border policies allowing terrorists easier entry into the US. 

Washington Free Beacon reports: 

The notification, which the State Department transmitted to congressional leaders last week, reveals that Pompeo and former U.S. Iran envoy Brian Hook continue to face “serious and credible” threats from a foreign nation, reported to be Iran.

The findings come on the eve of a contested presidential election in which Iran’s plots to assassinate former president Donald Trump have taken center stage in recent weeks. Trump was briefed late last month about real and specific threats from Iran to assassinate him in an effort to destabilize and sow chaos in the United States, according to his campaign. 

The non-public notice did not describe Tehran’s assassination plots or any recent incidents that would prompt this alert on Capitol Hill. 

Former President Trump wrote on X last month that there were “Big threats on my life by Iran …  and moves were already made by Iran that didn’t work out, but they will try again. Not a good situation for anyone. I am surrounded by more men, guns, and weapons than I have ever seen before.” 

Big threats on my life by Iran. The entire U.S. Military is watching and waiting. Moves were already made by Iran that didn’t work out, but they will try again. Not a good situation for anyone. I am surrounded by more men, guns, and weapons than I have ever seen before. Thank you…

— Donald J. Trump (@realDonaldTrump) September 25, 2024

In March, we reported that the Federal Bureau of Investigation’s Miami Field Office published new details about an Iranian intelligence officer by the name of Majid Dastjani Farahani running amok in the US. 

Meanwhile, the Biden-Harris admin has kept much of this chaos concealed from the public because it’s an election year and would make for optically displeasing headlines. Yet their disastrous open southern border policies have flooded the nation with murders, criminals, gangs, and terrorists. 

And what happens if Israel ramps up additional attacks on Iran and sparks broader conflict across the Middle East? Will more Iranian spy teams be activated across the nation and cause chaos? Open borders have serious consequences. 

END

honesty takes hold!

(zerohedge)

After “Colossal” Exodus Of Subscribers, WaPo Boss Bezos Explains “The Hard Truth” About Not Endorsing Kamala

Monday, Oct 28, 2024 – 06:00 PM

In what is likely even more harrowing for the Op-Ed editors at The Washington Post, Jeff Bezos has just penned an explainer for his decision to not allow the liberal rag to endorse Kamala.

We present the opinion piece here in full (with some emphasis by us) – this is shocking levels of honesty!

The hard truth: Americans don’t trust the news media

The credibility gap can be bridged by independence.

In the annual public surveys about trust and reputation, journalists and the media have regularly fallen near the very bottom, often just above Congress. But in this year’s Gallup poll, we have managed to fall below Congress. Our profession is now the least trusted of all. Something we are doing is clearly not working.

Let me give an analogy. Voting machines must meet two requirements. They must count the vote accurately, and people must believe they count the vote accurately. The second requirement is distinct from and just as important as the first.

Likewise with newspapers. We must be accurate, and we must be believed to be accurate. It’s a bitter pill to swallow, but we are failing on the second requirement. Most people believe the media is biased. Anyone who doesn’t see this is paying scant attention to reality, and those who fight reality lose. Reality is an undefeated champion. It would be easy to blame others for our long and continuing fall in credibility (and, therefore, decline in impact), but a victim mentality will not help. Complaining is not a strategy. We must work harder to control what we can control to increase our credibility.

Presidential endorsements do nothing to tip the scales of an election. No undecided voters in Pennsylvania are going to say, “I’m going with Newspaper A’s endorsement.” None. What presidential endorsements actually do is create a perception of bias. A perception of non-independence. Ending them is a principled decision, and it’s the right one. Eugene Meyer, publisher of The Washington Post from 1933 to 1946, thought the same, and he was right. By itself, declining to endorse presidential candidates is not enough to move us very far up the trust scale, but it’s a meaningful step in the right direction. I wish we had made the change earlier than we did, in a moment further from the election and the emotions around it. That was inadequate planning, and not some intentional strategy.

I would also like to be clear that no quid pro quo of any kind is at work here. Neither campaign nor candidate was consulted or informed at any level or in any way about this decision. It was made entirely internally. Dave Limp, the chief executive of one of my companies, Blue Origin, met with former president Donald Trump on the day of our announcement. I sighed when I found out, because I knew it would provide ammunition to those who would like to frame this as anything other than a principled decision. But the fact is, I didn’t know about the meeting beforehand. Even Limp didn’t know about it in advance; the meeting was scheduled quickly that morning. There is no connection between it and our decision on presidential endorsements, and any suggestion otherwise is false.

When it comes to the appearance of conflict, I am not an ideal owner of The Post. Every day, somewhere, some Amazon executive or Blue Origin executive or someone from the other philanthropies and companies I own or invest in is meeting with government officials. I once wrote that The Post is a “complexifier” for me. It is, but it turns out I’m also a complexifier for The Post.

You can see my wealth and business interests as a bulwark against intimidation, or you can see them as a web of conflicting interests. Only my own principles can tip the balance from one to the other. I assure you that my views here are, in fact, principled, and I believe my track record as owner of The Post since 2013 backs this up. You are of course free to make your own determination, but I challenge you to find one instance in those 11 years where I have prevailed upon anyone at The Post in favor of my own interests. It hasn’t happened.

Lack of credibility isn’t unique to The Post. Our brethren newspapers have the same issue. And it’s a problem not only for media, but also for the nation. Many people are turning to off-the-cuff podcasts, inaccurate social media posts and other unverified news sources, which can quickly spread misinformation and deepen divisions. The Washington Post and the New York Times win prizes, but increasingly we talk only to a certain elite. More and more, we talk to ourselves. (It wasn’t always this way — in the 1990s we achieved 80 percent household penetration in the D.C. metro area.)

While I do not and will not push my personal interest, I will also not allow this paper to stay on autopilot and fade into irrelevance — overtaken by unresearched podcasts and social media barbs — not without a fight. It’s too important. The stakes are too high. Now more than ever the world needs a credible, trusted, independent voice, and where better for that voice to originate than the capital city of the most important country in the world? To win this fight, we will have to exercise new muscles. Some changes will be a return to the past, and some will be new inventions. Criticism will be part and parcel of anything new, of course. This is the way of the world. None of this will be easy, but it will be worth it. I am so grateful to be part of this endeavor. Many of the finest journalists you’ll find anywhere work at The Washington Post, and they work painstakingly every day to get to the truth. They deserve to be believed.

The irony, of course, is that the alt-media space (and most non-liberal reporters) have been saying much of this for years – only to be cajoled, banned, black-balled, refused-access.

The question is – now that Bezos has smashed the glass ceiling of elite aloofness – will we see the usual tsunami of screaming, hysterical resignations (“I could never work for someone who said those words in his out loud voice”) – or…

Is this the turning point – is this the moment when media reverts back to news and not opinion?

Where will all those ‘resigning’ reporters go to work if other media owners follow Bezos’ path? Substack? How’s that working out for the liberalati?

We suspect (strongly) that this will not be a quick turnaround. The blinkered libtard defense of all that is righteously progressive (and therefore ‘the truth’) will not disappear overnight.

A generation of so-called ‘journalism students’ need to be de-programmed from “their truth” (preferably not in camps), and they (and their professors) won’t go quietly into the night, that is for sure.

And along those lines, shortly after Bezos dropped this op-ed, another major mainstream news outlet decided NOT to endorse Kamala…

Readership of mainstream media has fallen off a cliff and they are scrambling to salvage something, anything https://t.co/otTK7AxBUJ

— zerohedge (@zerohedge) October 28, 2024

*  *  *

As we detailed earlier, Jeff Bezos’ decision for The Washington Post not to endorse a presidential candidate this year has resulted in a total shitshow for the progressive newspaper, with staffing members having epic meltdowns and editor-at-large Robert Kagan (husband of Victoria Nuland) walking off the job on Friday. Even more troubling for the paper is the mass exodus of liberal subscribers being reported by NPR News on Monday afternoon. 

According to two sources within the paper and familiar with the subscriber exodus, over 200,000 digital subscription cancellations had occurred by Monday afternoon. 

Not all cancellations take effect immediately. Still, the figure represents about 8% of the paper’s paid circulation of 2.5 million subscribers, which includes print as well. The number of cancellations continued to grow Monday afternoon. -NPR

Former Post Executive Editor Marcus Brauchli told NPR, “The problem is, people don’t know why the decision was made. We basically know the decision was made, but we don’t know what led to it.”

The editorial page editor, David Shipley, told colleagues that WaPo’s publisher, Will Lewis, said the reason for the lack of a Harris-Walz endorsement was to create an “independent space” where the newspaper does not tell people for whom to vote.

WaPo has mostly endorsed Democrats for nearly a century (with only 3 Republicans since 1928): 

• 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)

• 2024: Neutral 

Back to WaPo’s mass exodus of subs, Google search data shows “cancel Washington Post subscription” has gone parabolic nationwide since the weekend. Most cancelations are based in the District of Columbia, Maryland, and Virginia. 

And Amazon cancellations, too?

This is true…

More Washington Post staffers resign over paper’s failure to endorse Kamala Harris https://t.co/2gEAlsrgxQ pic.twitter.com/bwdR8hqRlO

— New York Post (@nypost) October 28, 2024

The move comes after the Los Angeles Times declined to endorse Kamala Harris. And perhaps the rationale given the timing – just days before the presidential election –  comes as the race is neck-and-neck with former President Trump. 

END

Rents up and home prices slightly down

(zerohedge)

Real Estate Bubbles: Where Rent Prices Are Going Up Or Down

Monday, Oct 28, 2024 – 11:00 PM

Across real estate bubble cities, average rent prices have increased 5% since mid-2022 in real terms, while inflation-adjusted home prices have dropped 15%.

This has played a role in lowering bubble risk over the last two years. In this way, higher rent prices reflect fundamental demand, such as higher population growth, rather than speculation pushing up home prices. Higher incomes across cities has a similar effect in lowering bubble risk.

This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the annual change in real rental costs in bubble markets, based on data from UBS’ Global Real Estate Bubble Index 2024.

Rental Costs Are Soaring in Key Bubble Markets

Although real rents have increased modestly across bubble cities, we can see in the table below that select cities are seeing much higher demand:

*Paris data as of Q1 2023-Q1 2024.

Since 2020, real rents in Dubai have surged 60%, outpacing the 40% rise in real home prices.

This growth reflects a booming population, with 400,000 people moving to the city over the past four years. By 2040, Dubai’s population is expected to grow from 3.8 million to 5.8 million. Today, office occupancy in the financial hub now stands at 91%, surpassing many global centers.

Similarly, Madrid has seen average rent prices climb. Surging rental costs in Madrid have led to thousands of protesters taking the streets as real rents have risen at nearly triple the rate of real home prices in the last year.

In contrast, real rents in Singapore have fallen nearly 7%, following government efforts to curb foreign demand. This shift breaks from the previous five years, when rent prices outpaced the property market as the population expanded and housing construction faced delays.

From a regional standpoint, bubble cities in North America saw the vast majority of declines in average real rent prices. Leading these decreases were Los Angeles (-4.0%), Toronto (-2.8%), and Miami (-2.8%), which rank among the top five bubble risk cities in 2024.

To learn more about this topic from a U.S.-perspective, check out this graphic on the cities with the highest median rent in America in 2024.

END

good question!

Who Is Actually Running The Country?

Tuesday, Oct 29, 2024 – 06:55 AM

Members of both American political parties and other concerned observers have been asking for a while now, “Who’s actually running the country?”

John Richardson, via The Gatestone Institute, says some answers include:

Former President Barack Obama, who, in November 2020, said on The Late Show with Stephen Colbert:

“People would ask me, knowing what you know now, do you wish you had a third term? And I used to say, “You know what? If I could make an arrangement where I had a stand-in, a front man or front woman, and they had an earpiece in, and I was just in my basement in my sweats looking through the stuff, and then I could sort of deliver the lines, but somebody else was doing all the talking and ceremony, I’d be fine with that.”

George Soros, of whom the journalist Wayne Allen Root wrote:

“Obama take his marching orders from George Soros.”

The Chinese Communist Party, about whom Root wrote:

“[T]he real power behind the throne. The boss of bosses. The capo di tutti. China and the Chinese Communist Party. Everyone is taking orders from China and the CCP. China bribes all the politicians in America and around the world with billions in offshore bank accounts. China owns Biden and his family. China owns virtually the entire leadership of the Democratic Party — and quite a few establishment RINO Republicans, too…. It’s easy to see China is the top dog. You’d have to be blind, deaf or really dumb to not see that. Everything happening … just happens to weaken and divide America while benefiting China.”

And of course Jill Biden, who was recently asked by the president to chair a Cabinet meeting.

More often, it seems, it is a cadre of unelected bureaucrats – a faceless politburo – who uphold the law or not, according to political expediency or whim.

American author and entrepreneur Vivek Ramaswamy has called this group “a machine.”

Are “open borders” legal or not? Are immigration laws being violated or not? Are illegal aliens, then, legal or not? Are prosecutions of presidential candidates within a month of a presidential election “election interference” or not? Were the deliberate lies of former US intelligence officials to the US public about the authenticity of Hunter Biden’s laptop actionable “election interference” or not?

What we should probably be asking, as we head to November, is: “Do we really want to go on living like that?”

end

Why Nobody Believes The “Data”: Surging Prices Of Everyday Items Are Excluded From CPI

Tuesday, Oct 29, 2024 – 08:40 AM

As inflation remains painfully high for American consumers, the Consumer Price Index (CPI) is woefully inadequate in terms of reflecting reality.

For starters, CPI excludes several significant costs faced by households today – ranging from property taxes to soaring interest payments.

While price levels remain notably higher than before the pandemic, according to the CPI, inflation has slowed – reaching a 2.4% increase for the year ending in September. That’s only part of the picture, Bloomberg reports.

“The CPI is capturing the goods and services that you purchased for consumption, but there are things that affect your cost of living that are outside of that,” explains Steve Reed, a BLS economist. For instance, interest charges on rising consumer debt are largely absent from the CPI. Roughly $628 billion in revolving credit card debt now bears an average interest rate of about 22%, yet these costs aren’t reflected in consumer inflation data.

“It’s one thing that’s definitely impacting the way people spend money,” said Pete Earle, economist at the American Institute for Economic Research and creator of the everyday price index that aims to track daily purchases that can’t be easily avoided. “It’s not really inflation, but it’s definitely something that should be taken into account.”

Another gap in the CPI is its exclusion of property-related expenses. While it measures the cost of personal property insurance, it overlooks the cost of insuring the physical home – a critical oversight as climate-related risks drive premiums higher. According to Bloomberg analyst Andrew John Stevenson, omitting this from the CPI means that rising insurance premiums are only partially reflected in the overall inflation data.

The CPI’s “basket” also leaves out several items that have become significant in Americans’ budgets, including restaurant tips. Similarly, legal but selectively regulated goods, such as marijuana in some states, and gambling expenses remain unaccounted for. This reality adds to the perception that official inflation metrics don’t fully capture the true cost of living for many Americans.

The BLS admits that CPI falls short, writing on its website: “The CPI does not necessarily measure your own experience with price change,” adding “A national average reflects millions of individual price experiences; it seldom mirrors a particular consumer’s experience.”

The pricing challenges aren’t unique to the CPI. For example, the personal consumption expenditures price index, produced by the Bureau of Economic Analysis, also has some quirks when it comes to measuring certain expenses like health care. While the Fed prefers the PCE gauge, White House economists say that the CPI tends to more closely track consumers’ actual out-of-pocket spending. -Bloomberg

While inflation may appear to be abating on paper, Americans’ financial reality is more complex – influenced by costs that extend beyond the basket of goods traditionally tracked by federal data.

end

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 29, 2024 Issue 7358

Independent View of the News

The usual suspects poured into Fangs on the NYSE opening.  With Google, Microsoft, Amazon, and Apple earnings about to appear, traders desperately wanted to get long for expected great results and ensuing ginormous rallies.   Alas, the NY Fang Index peaked seconds after the NYSE opening at 11929.253.  It sank to 11829.766 at 9:51 ET.  Traders eagerly and greedily bought the drop.  The index jumped to 11892.866 at 10:08 ET.  After a slow rollover, the NY Fang+ Index fell to a new daily low of 11822.345 at 11:02 ET.   Nvidia was the weakest Fang, with a decline of 1.045% near 11:00 ET.   Bonds declined again; a troubling development given that they are extremely oversold on an intermediate basis.  The 10-year note hit 4.295% near 13:00 ET.   The US 2-year auction ($69B) results: 4.130%, 4.122% WI; Indirect Bids 58.2%, Direct 23.8%, Dealers 17.9%, Bid-to Cover 2.5   The US 5-year auction ($70B) results: 4.138%, 4.122% WI; Indirect Bids 76.4%, Direct 9.5%, Dealers 14.2%, Bid-to Cover 2.39, 25.49% at high   @MacroEdgeRes: The 30 year fixed rate mortgage increased to 7%, its highest level since early July, and up nearly a percent since the Federal Reserve lowered by 50bps.   ESZs rallied smartly after the Nikkei opening on the usual Sunday night buying and for coming Fang results.  However, the buying dissipated after a second up wave ended at 20:30 ET.  ESZs then traded sideways, with a modest rally to new highs between 4:40 ET and 6:04 ET, until they broke down at 8 ET.   After the usual rally for the NYSE opening, ESZs stair-stepped lower until they made an NYSE-session low of 5860.00 at 12:01 ET.  The afternoon rally took ESZs to 5872.75 at 14:07 ET.  ESZs then had an irregular A-B-C decline into the NYSE close.   Positive aspects of previous session The DJIA and DJTA rallied robustly. Oil and gasoline tumbled because Israel did NOT attack Iran’s energy assets.   Negative aspects of previous session Bonds declined again; supply, as evinced by the 2 & 5-year auctions, is aggravating Mr. Bond. Fangs were consciously soft.  The S&P 500 Index closed (5823.60) near its low (5823.08)   Ambiguous aspects of previous session Are traders too long Fangs ahead of this week’s results?   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5829.86 Previous session S&P 500 Index High/Low: 5842.92; 5823.08   Washington Post owner Jeff Bezos wants more conservative opinion writers at paper: report (Bezos sees a trend change in the USA.) https://trib.al/CgWHfa9   RFK Jr. said Trump is self-funding his transition team to prevent Swamp Infection.   Ford Lowers Profit Expectations Under Pressure from EV Losses – BBG (Helps DJT) Adjusted earnings before interest and taxes this year will be about $10 billion, down from a previous outlook for as much as $12 billion, the company said Monday.  Analysts had expected $10.6 billion…   Today –Last week we noted that stocks looked tired, and Mr. Bond was weighing on equities.  The rabid buying for Q3 earnings season and the October expiration on the 18th appears to have exhausted traders. Fangs rallied last week on buying ahead of results, while major indices declined or sagged.  Peak Fang reporting season starts today with Google.  Microsoft and Meta report tomorrow; Apple and Amazon close the festivities on Halloween (Thursday).  PS – Nvidia reports on November 21.   The DJIA and DJIA rallied robustly on Monday on pattern buying; but Fangs sagged.  Is the trader and operator buying for Fang results exhausted?  Does someone know something about coming results?   Afternoon trading could be impacted by expectations or inside info about Google’s results, which are due after the NYSE close.   ESZs +0.75; NQZs are +19.50 (for the above reasons); and USZs are _5/32 at 20:50 ET.    Expected econ data and events: Sept Wholesale Inventories 0.0% m/m, Retail Inventories 0.5%; Advance Goods Trade Balance -%95.5B; Aug FHFA House Price Index 0.2% m/m; Aug S&P CoreLogic 20-city house prices 0.2% m/m & 4.8% y/y; Sept JOLTS Job Openings 7.935m; Oct Conference Board Consumer Confidence 99.3   Expected impact earnings: DHI 4.18, AMT 2.46, PFE .62, PSX 1.66, MCD 3.20, MDLZ .85, CB 4.96, V 2.58, AMD .92, GOOGL 1.83   S&P Index 50-day MA: 5688; 100-day MA: 5576; 150-day MA: 5446; 200-day MA: 5339 DJIA 50-day MA: 41,841; 100-day MA: 40,729; 150-day MA: 40,090; 200-day MA: 39,718 (Green is positive slope; Red is negative slope)   S&P 500 Index (5823.60 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 5509.91 triggers a sell signal Daily: Trender is positive; MACD is negative – a close below 5788.27 triggers a sell signal Hourly: Trender and MACD are positive – a close below 5796.38 triggers a sell signal   The hard truth: Americans don’t trust the news media by Jeff Bezos, WaPo owner Most people believe the media is biased. Anyone who doesn’t see this is paying scant attention to reality, and those who fight reality lose… The Washington Post and the New York Times win prizes, but increasingly we talk only to a certain elite. More and more, we talk to ourselves… Some changes will be a return to the past, and some will be new inventions… https://www.washingtonpost.com/opinions/2024/10/28/jeff-bezos-washington-post-trust/   USA/Today won’t endorse a POTUS candidate.  (Biden in 2020)   @EricLDaugh: Tampa Bay Times decides not to endorse for president – Axios.  The paper endorsed Biden in 2020 and Clinton in 2016   Kamala Harris’ VP choice Tim Walz had secret fling with daughter of top Chinese Communist official during teaching stint in China – Jenna Wang, daughter of a CCP official in 1989… “We were deeply in love, and I wanted to marry him & start a family. When it didn’t happen, I felt very sad. Tim’s behavior was very selfish.”… https://trib.al/VmTrj2P   GOP Sen. @marcorubio: If the story today in @DailyMail is true Tim Walz had a relationship with the daughter of a high-ranking Chinese Communist Party official and remained in contact with her for years after.  If you aspire to be Vice-President of the United States, voters deserve to know everything about any and every link you have to the CCP.  (Can’t make this up!)   Kamala Harris tries to touch razor-sharp object during tour of semiconductor factory: ‘Straight out of Veep’ – “Can I touch it?” the Democratic nominee asked as her right hand hovered over the metalloid rod.  “Do not touch it,” the factory worker immediately responded… https://trib.al/9lwvlAq   @TrumpWarRoom: KAMALA: “When we understand who we are as a nation, we take great pride in being a leader on so many things, and we have a tradition of that, but I think what we know as Americans is that we cannot rest on tradition, we have to constantly be on top of what is happening.” https://x.com/TrumpWarRoom/status/1851039725181698223   @RNCResearch: THIS is the cognitive decline Kamala covered up for years, then lied about it again and again. It’s the biggest scandal in modern political history.  https://x.com/RNCResearch/status/1850891733539635461   Kamala Told by Her Own Supporters to Tone Down “Fascist” Attacks on Trump Future Forward, a leading super PAC supporting the Harris campaign, told the New York Times that Kamala had become too obsessed with skewering Trump’s character and not concentrating on things that actually concern Americans… https://vigilantnews.com/post/kamala-told-by-her-own-supporters-to-tone-down-fascist-attacks-on-trump/   With polls showing most Americans disapprove of Team Obama-Harris’s hateful Nazi labeling, Tim Walz on Monday said we should be “getting away from the name calling and division.”  Not a joke!   @GrageDustin: Tim Walz says we should get away from name calling. Last week Walz called @elonmusk a “dipsh*t.” (Trump a fascist!)  https://x.com/GrageDustin/status/1850986790267605170   Walz compares Trump’s Madison Square Garden rally to 1939 pro-Nazi event (on Sunday) https://thehill.com/homenews/campaign/4956168-walz-trump-madison-square-garden-rally/   Republicans tear into Tim Walz for comparing Trump’s MSG rally to Nazi event: ‘More offensive than any joke’ – “Kamala Harris’ campaign is copying Hillary Clinton’s strategy of attacking half the country,” said Trump campaign spokeswoman Karoline Leavitt in a statement.     “Tim Walz needs to apologize for his disgraceful comments smearing Trump supporters. This kind of rhetoric has already inspired assassination attempts.” The Harris-Walz campaign did not immediately respond to a request for comment. https://nypost.com/2024/10/28/us-news/republicans-tear-into-tim-walz-for-comparing-trumps-msg-rally-to-nazi-event/   @nytimes: The stand-up comedian Tony Hinchcliffe spoke at Donald Trump’s rally at Madison Square Garden on Sunday, hurling a wave of insults and vulgar statements at minority groups. He was widely rebuked for calling Puerto Rico a “floating island of garbage.”   JD Vance on the MSM and Dems’ outrage at Hinchcliffe’s Puerto Rico joke: “I think that it is telling that Kamala Harris’s closing message is all of Donald Trump voters are Nazis and you should be really pissed off by a comedian telling a joke.  This is not the message of a winning campaign… and not the message of a person that fits to be POTUS… I think we have to stop be offended by every little thing…  George Lopez made a joke at a Kamala Harris rally… that was a racist joke… My response was to say, ‘can’t we take a chill pill?’   ”https://www.youtube.com/watch?v=YXyP2V0okG0   Lopez joke: https://x.com/JackPosobiec/status/1850641353769943092   @realDonaldTrump: FoxNews spends far too much time promoting the Democrats, their surrogates, and their agenda. Today I watched, over and over again, an angry and totally out of control Michelle Obama trying to save the dying Campaign of Comrade Kamala Harris. I’m leading in Michigan, by a lot, because of great support from Autoworkers, Arab Americans, Jewish Americans, and all other Patriots – But Fox refuses to put up those Polls. Fox also plays more negative commercials and ads promoting the other side than is even imaginable – Our ads on FoxNews are always a big deal to negotiate (They want us to change and weaken our content!), but we put them up on CNN and MSDNC with no problems or changes. It’s hard to believe I’m leading by so much!   Is the Left Preparing for War If Trump Wins? The propaganda campaign labeling Donald Trump as an aspiring dictator determined to use the military and national security apparatus against his political opponents is designed not to affect the upcoming election but rather to shape the post-election environment. It is the central piece of a narrative that, by characterizing Trump as a tyrant (indeed likening him to Hitler), establishes the conditions for violence — not just another attempt on Trump’s life, but political violence on a massive scale intended to destabilize the country… https://tomklingenstein.com/is-the-left-preparing-for-war-if-trump-wins/   Strava-using Secret Service agents inadvertently tipoff fitness app users to movements of Biden, Trump and others https://trib.al/5gxB6yI   Whoopi Goldberg: Trump Will Deport Spouses in Interracial Marriages, Put the White Guy with Someone Else (Who would believe such BS?  It is more likely to offend people’s intelligence!) https://www.breitbart.com/clips/2024/10/28/whoopi-goldberg-trump-will-deport-spouses-in-interracial-marriages-put-the-white-guy-with-someone-else/   @calleymeans: The United States is 4% of the world’s population and produces 70% of the world’s pharma profits. We rank 60th in global life expectancy.

SWAMP STORIES FOR YOU TONIGHT

USA is a banana republic

Ballot Drop-Boxes Torched In Portland, Vancouver – Could Affect Tightest US House Race

Tuesday, Oct 29, 2024 – 12:20 PM

As pre-election passions intensify down the stretch to Election Day, two ballot drop-boxes in the adjacent cities of Portland, Oregon and Vancouver, Washington were torched with incendiary devices on Monday morning, incinerating hundreds of ballots and potentially affecting the outcome of one of the tightest US House races in the country. “I strongly denounce any acts of terror that aim to disrupt lawful and fair elections in Washington state,” said Washington Secretary of State Steve Hobbs in a statement. 

The box in Portland fared better by far: Thanks to the successful activation of its internal fire-suppression system, only three ballots were damaged. However, in Vancouver, hundreds of ballots were fully destroyed as that box’s anti-arson technology failed. Both boxes had systems designed to release a flame-suppressing powder when a certain temperature in the box is detected. The Vancouver box had last been emptied at 8:00 am on Sunday. 

Someone dropped a match into a “drop box” in Clark County this morning…

Hundreds of ballots destroyed.

I was told that dropping votes inside an unattended box on the street was a good idea.

No way to tell what votes were burned or who they even belonged to. Absolute insanity. pic.twitter.com/QIa7aIQYlu

— Geiger Capital (@Geiger_Capital) October 28, 2024

The Portland box was attacked at 3:30 am and the Vancouver box at 4:00 am. Portland police released photos of a Volvo S-60 they think was involved in both incidents. They place the model year between 2001 and 2004. The sedan didn’t have a front license plate, and cops weren’t able to read the rear tag. Investigators suspect Monday’s twin attacks are related to an earlier incident on Oct. 8 in Vancouver, in which a box was found aflame with some type of device lying next to it. Apparently, no ballots were harmed that time.  

Vancouver sits inside Washington’s 3rd Congressional District, home to what’s widely viewed as the country’s tightest House race. In 2022, Democratic Marie Gluesenkamp Perez beat Republican former Green Beret and CIA field agent Joe Kent by just 2,629 votes out of nearly 320,000 votes cast. This year’s race is a rematch, and Gluesenkamp Perez is considered the House Democrat at greatest risk of being ousted. In an addition signal of Gluesenkamp Perez’s peril, Trump won the district in both 2016 and 2020. 

In turn, the Washington-3 race could decide control of the House. 538’s simulator gives the GOP a 52% chance of keeping the reins. On the other hand, The Economist‘s model favors the Democrats by a 53% to 47% probability margin.

Considering Democrats account for 54% of mail-in ballots requested in Washington — versus Republicans requesting 36% of total requests — any attack on a drop-box would generally seem likely to benefit Republicans, particularly when those boxes are in urban areas that skew even more Democratic.  

“We don’t know the motives behind these acts — sounds like a series of three at this point — but we do know that acts like this are targeted and intentional,” Portland Police Bureau Assistant Chief Amanda McMillan told reporters Monday. (Brilliant thinking, Sherlock!) “We are concerned about that intentional act trying to affect the election process.”  

Clark County Washington auditor Greg Kimsey encouraged people who’d dropped ballots in the box after 11 am Saturday to call his office and request a new ballot. He said his department will increase ballot-pickup frequency, switch to evening collection, and hire monitors to provide 24-hour supervision of the boxes. He foolishly disclosed that the monitors will be ordered not to confront arsonists, and to instead merely call 911 if they see something suspicious — maybe like flames and smoke pouring out of the box?

Last week, Phoenix, Arizona police arrested a suspect who allegedly set fire to a ballot drop-box situated at a post office in that city. About 20 ballots were believed to have been damaged in the incident that took place at 1:20 am. 

From an all-out “Trump is literally Hitler” media blitzkrieg to ballot boxes being torched in three states and counting, things are certainly heating up…literally.   

GREG HUNTER 

SEE YOU WEDNESDAY