NOV 11/RAID ORCHESTRATED BY FRBNY WITH THE SPECS GOING MEGA SHORT: SHOULD BE FUN WHEN BOTH THE BANKERS AND THE FRBNY BEING LONG EXERCISE THOSE CONTRACTS FOR PURE GOLD//GOLD CLOSED DOWN $75.35 TO $2611.50//SILVER CLOSED DOWN $.79 TO $30.54 //PLATINUM CLOSED DOWN $8.35 TO $964.10 WHILE PALLADIUM WAS DOWN $14.80//GOLD COMMENTARY TONIGHT FROM PETER SCHIFF// FRBNY REDUCE THEIR GOLD SWAPS FROM 112 TONNES DOWN TO 93 TONNES// QATAR THROWS OUT HAMAS OFFICIALS FROM DOHA//ISRAEL VS HAMAS AND ISRAEL VS HEZBOLLAH AND IRAN UPDATES//RUSSIA VS UKRAINE AND USA UPDATES// COVID UPDATES/VACCINE INJURY REPORT//GOOD COMMENTARY TONIGHT ON IVERMECTIN AND ITS EEFECT ON LATE STAGE 3 CANCERS//SLAY NEWS ETC//TRUMP PICKS TWO SUPERB CANDIDATES: TOM HOMAS FOR BORDER CZAR AND ELISE STEFANIK FOR USA AMBASSADOR AND STEPHEN MILLER AS DEPUTY CHIEF OF POLICY///GREAT COMMENTARY ON THE ELECTION FROM JAMES KUNSTLER//SWAMP STORIES FOR YOU TONIGHT.
190 H BMO CAPITAL 185 323 C HSBC 1 363 H WELLS FARGO SEC 71 624 H BOFA SECURITIES 286 661 C JP MORGAN 39 690 C ABN AMRO 9 737 C ADVANTAGE 1 3 905 C ADM 2 1
TOTAL: 299 299 MONTH TO DATE: 2,537
JPMorgan stopped 39/29
GOLD: NUMBER OF NOTICES FILED FOR NOV/2024. CONTRACT: 299 NOTICES FOR 29,900 OZ 0.9300 TONNES
total notices so far: 2537 contracts for 253,700 Oz (7.8915 tonnes)
FOR NOV
SILVER NOTICES: 0 NOTICE(S) FILED FOR 0.00 MILLION OZ/
total number of notices filed so far this month : 833 for 4.165 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 DOWN $75.35 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.74 TONNES OF GOLD FROM THE GLD./
/ /INVENTORY RESTS AT 876.85 TONNES
INVENTORY RESTS AT 876.85 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.79 AT THE SLV
SMALL CHANGES IN SILVER INVENTORY OUT OF THE SLV: A WITHDRAWAL OF 319,000 OZ INTO THE SLV//
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 477.527 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUMONGOUS SIZED 2375 CONTRACTS TO 147,277 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR STRONG LOSS OF $0,43 IN SILVER PRICING AT THE COMEX WITH RESPECT TO FRIDAY’S TRADING. WE HAD A SMALL LOSS OF 143 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSS OF $0.43 IN PRICE. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS ON FRIDAY COMEX TRADING AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S CONTINUAL PRICE RISE FOR THE PAST 2 WEEKS. THEY HAD SOME SUCCESS FRIDAY. WE HAD SOME SHORT COVERING BY OUR SPECS DURING THE COMEX TIME ZONE FRIDAY.. WE HAD A MEGA HUGE 1790 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A MEGA HUMONGOUS 4082 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING AS THEY PLAY AN INTEGRAL PART DURING RAIDS TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE LOST A STRONG 585 CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSS IN PRICE. WE HAD MAJOR TAS LIQUIDATION
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 TODAY. 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 FRIDAY NIGHT: A MEGA HUMONGOUS 4082 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 SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.43) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SILVER LONGS FROM THEIR PERCH AS WE HAD A NET TINY LOSS OF 143 CONTRACTS ON OUR TWO EXCHANGES.
WE HAD A HUGE 1790 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 2.810 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 0 OZ QUEUE JUMP//NEW STANDING REMAINS AT: 4.360 MILLION OZ
// STANDING FOR SILVER//NOV AT 4.360 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI LOSS//HUGE SIZED EFP ISSUANCE/ VI) MEGA HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 4082 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED A HUGE 442 CONTRACTS.
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS NOV. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV
TOTAL CONTRACTS for 7DAYS, total 10,930 contracts: OR 54.650 MILLION OZ (1561 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 54.65 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; 97.485 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH )
NOV. 54.65 MILLION OZ (WILL BE HUGE THIS MONTH)
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2375 CONTRACTS WITH OUR LOSS OF $0.43 IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 1790 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 NOV OF 2.810 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 0 OZ QUEUE JUMP
//NEW TOTAL STANDING FOR NOV AT 4.360 MILLION OZ
WE HAVE A STRONG SIZED LOSS OF 585 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A MEGA HUMONGOUS SIZED 4082 CONTRACTS ( WILL BE USED FOR MONDAY’S /RAID),//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION THUS THE NEED FOR REPLENISHMENT AND THAT IS WHAT THEY DID IN A BIG WAY!!
/ ZERO NET SHORT COVERING FROM OUR SPEC SHORTS DESPITE THE LOSS IN PRICE FRIDAY/ . ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.
THE NEW TAS ISSUANCE FRIDAY NIGHT (4082) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND LATELY ON A DAILY BASIS INCLUDING YESTERDAY AND TODAY.
WE HAD 0 NOTICE(S) FILED TODAY FOR 0.0 MILLION OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 860 OI CONTRACTS TO 552,706 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 582 CONTRACTS//
WE HAD A SMALL SIZED DECREASE IN COMEX OI (860 CONTRACTS) OCCURRED DESPITE OUR STRONG LOSS OF $11.85 IN PRICE FRIDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR NOV AT 2.488 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUGE 69,300 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 10.133 TONNES
NEW STANDING FOR NOVEMBER: 10.133 TONNES
/ ALL OF THIS HAPPENED WITH OUR $11.85 LOSS IN PRICE WITH RESPECT TO FRIDAY’S COMEX RAID///. WE HAD A STRONG GAIN OF 6,400 OI CONTRACTS (19.90 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 WEEK, 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 TODAY’S HUMONGOUS QUEUE JUMP OF 69,300 OZ)
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 7260 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 552,706
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6400 CONTRACTS WITH 860 CONTRACTS DECREASED AT THE COMEX// AND A HUGE SIZED 7240 EFP OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 6400 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA MEGA HUMONGOUS SIZED AND CRIMINAL 32,716 CONTRACTS, WE HAD HUGE LIQUIDATION OF T.A.S CONTRACTS WITH OUR LOSS IN PRICE FRIDAY
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (7260 CONTRACTS) ACCOMPANYING THE SMALL SIZED DECREASE IN COMEX OI OF 860 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 6400 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 NOV 2.488 TONNES FOLLOWED BY TODAY’S HUMONGOUS 69,300 OZ QUEUE JUMP
//NEW STANDING NOVEMBER: 7.978 TONNES
/ 3) HUGE T.A.S. LIQUIDATION (TRYING TO LOWER GOLD’S PRICE WITH SOME SUCCESS FRIDAY , BUT WITH ZERO NET LONG SPECS BEING CLIPPED. STICKY GOLD’S LONGS HOWEVER ARE NOT FOOLED BY THE FRIDAY RAID AS THEY WERE REWARDED FRIDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL.
4) SMALL SIZED COMEX OPEN INTEREST DECREASE 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///MEGA MEGA HUMONGOUS T.A.S. ISSUANCE: 32,216 T.A.S.CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
NOV
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF NOV :
TOTAL EFP CONTRACTS ISSUED: 44,653 CONTRACTS OF 4,465,300 OZ OR 138.88 TONNES IN 7 TRADING DAY(S) AND THUS AVERAGING: 6232 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 7 TRADING DAY(S) IN TONNES 138.88 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 138.88 DIVIDED BY 3550 x 100% TONNES = 3.91% OF GLOBAL ANNUAL PRODUCTION
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. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)
NOV: 138.88 TONNES (WILL PROBABLY BE A HUGE MONTH/MAYBE A RECORD ISSUANCE MONTH)
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPTEMBER. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A HUGE SIZED 2375 CONTRACTS OI TO 147,277 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 1790 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 3035 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1790 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 2375 CONTRACTS AND ADD TO THE 1790 E.FP. ISSUED
WE OBTAIN A SMALL SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 585 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 2.925 MILLION OZ OCCURRED DESPITE OUR STRONG $0.43 LOSS IN PRICE
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//
MONDAY MORNING SUNDAY NIGHT
ASIA TRADING/MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED UP 17.77 PTS OR 0.51%
//Hang Seng CLOSED DOWN 301.26 PTS OR 1.45%
// Nikkei CLOSED UP 32.95 OR 0.08%//Australia’s all ordinaries CLOSED DOWN 0.39%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1965 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2209// Oil UP TO 69.21 dollars per barrel for WTI and BRENT UP AT 72.75 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALL SIZED 840 CONTRACTS TO 552,706 DESPITE OUR STRONG LOSS IN PRICE OF $11.85 WITH RESPECT TO FRIDAY’S TRADING. , WE LOST ZERO NET IN NUMBER LONGS WITH THE LOWER PRICE FOR GOLD AS YOU WILL SEE BELOW. WE HAD A HUMONGOUS NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (7260).
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT LAST MONTH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY THIS ENTIRE WEEK AND ESPECIALLY DURING YESTERDAY’S LOSS IN PRICE.
THE FED IS THE MAJOR SHORT OF AROUND 81+ 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//VIEW ANDREW MAGUIRE LATEST LIVE FROM VAULT 197 AS HE TACKLES THIS IMPORTANT TOPIC). 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 LIKE TODAY, AND THEIR FAILURE TO STOP CENTRAL BANK PURCHASES OF PHYSICAL GOLD IS THE MAJOR ISSUE OF THE DAY!
OUR PHYSICAL LONDONERS BOUGHT NEW MASSIVE QUANTITIES OF LONGS AT ANY PRICE AND THIS GOLD BOUGHT WILL BE TENDERED FOR PHYSICAL ON A T + 1 BASIS. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD MUST BE DELIVERED IN A VERY TIMELY ONE DAY. CENTRAL BANKS AROUND THE WORLD, BEING REPRESENTED BY OUR LONDONERS, ARE THE REAL PURCHASERS OF THIS GOLD.
WE HAD A HUGE T.A.S. LIQUIDATION THROUGHOUT LAST WEEK’S TRADING AND AGAIN WITH THIS WEEKS TRADING.
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 NON ACTIVE DELIVERY MONTH OF NOV.… THE CME REPORTS THAT THE BANKERS ISSUED A HUMONGOUS SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A HUGE SIZED 7260 EFP CONTRACTS WERE ISSUED: : /DEC 7260 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 7260 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD DELIVERED COMES FROM LONDON.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 6400 CONTRACTS IN THAT 7260 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A SMALL SIZED LOSS OF 860 COMEX CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $11.85 FRIDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT, A MEGA MEGA SIZED 32,216 CONTRACTS, WILL BE USED TO REPLENISH SUPPLIES.. ALMOST ALL OF THE TRADING AND SUPPLY OF CONTRACTS WAS ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK)
THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD WHICH OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR STRONG T.A.S. ISSUANCE (AND SPREADERS LATE IN THE MONTH). THE USE OF T.A.S. IS OF EXTREME IMPORTANCE TO OUR CROOKS IN LAST WEEK’S AND THIS WEEK’S TRADING AND ESPECIALLY WITH FRIDAY’S RAID.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: NOV (10.,.133 TONNES) WHICH IS HUGE FOR OUR NON ACTIVE NOV DELIVERY MONTH.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 47 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
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: 66.276TONNES (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 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK PRIOR =60.391 TONNES
NOV . 10.133 TONNES
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $11.85/)//BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES. WE DID HAVE CONSIDERABLE T.A.S. SPREADER LIQUIDATION FRIDAY AND THE NEED FOR REPLENISHMENT BUT THIS COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL FRIDAY EVENING.
WE HAVE GAINED A TOTAL OF 21.716 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR NOV (2.488TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUMONGOUS QUEUE JUMP OF 693 CONTRACTS OR 69,300 OZ (2.155 TONNES). THESE GUYS UNDERWENT A HUGE SIZED QUEUE JUMP BOLTING AHEAD OF OTHER LONGS TO OBTAIN BADLY NEEDED PHYSICAL GOLD. MOSTLY LIKELY THIS IS THE FRBNY DESPERATELY TRYING TO EXTINGUISH ITS MASSIVE PHYSICAL SHORT FALL OF 112 TONNES
//NEW STANDING FOR NOV 10.133 TONNES
NEW STANDING FOR NOVEMBER: 10.133 TONNES (WHICH FOR A NON ACTIVE DELIVERY MONTH)
ALL OF THIS WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE TO THE TUNE OF $11.85
WE HAD 582 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.
NET GAIN ON THE TWO EXCHANGES 6400 CONTRACTS OR 640,000 OZ (19.90 TONNES)
Total monthly oz gold served (contracts) so far this month
2537 notices 253,700oz 7,8915 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 1 customer deposits
i) Into Brinks 157,592.404 oz real gold
total deposits 157,592.404 oz
withdrawals: 1
i) out of JPMorgan 12,065.625 oz
real gold withdrawn
adjustments: 2
i) customer to dealer Loomis 65,973.852 oz 2062 kilobars
ii) customer to dealer Malca: 117,962.019 oz (3669 kilobars)
total adjusted to dealer; 572 tonnes of gold. this gold will vacate the comex shortly to central banks
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOV.
For the front month of NOV: we have an oi of 1020 contracts having GAINED 450 contracts. We had 243 contracts served on FRIDAY so we gained ANOTHER MONSTROUS 693 contracts as they underwent a HUMONGOUS queue jump of 69300 oz (2.155 TONNES OF GOLD)
DECEMBER, THE BIGGEST DELIVERY MONTH LOST 20,935 CONTRACTS TO 327,939
JANUARY GAINED 7 CONTRACTS TO STAND AT 126
FEBRUARY GAINED 17,453 CONTRACTS TO 139,598 .
We had 299 contracts filed for today representing 29,900 oz
This is a huge major assault on the comex for gold and this time it is physical that will be requested.
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 299 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 39 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for NOV /2024. contract month, we take the total number of notices filed so far for the month (2537 x 100 oz ) to which we add the difference between the open interest for the front month of NOV(1020 CONTRACTS) minus the number of notices served upon today (299 x 100 oz per contract( equals 325,800 OZ OR 10.133 TONNES.
thus the INITIAL standings for gold for the NOV contract month: No of notices filed so far (2537 x 100 oz +we add the difference for front month of NOV (1020 OI} minus the number of notices served upon today (299 x 100 oz which equals 325,800 oz (10.133 TONNES) +
TOTAL COMEX GOLD STANDING FOR NOV.: 10.133 TONNES WHICH IS HUGE FOR THIS NON ACTIVE DELIVERY MONTH IN THE CALENDAR.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,344,329,862 OZ
TOTAL REGISTERED GOLD 7,815,872.250/// 243.106tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,528,457,652 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,199652 oz (REG GOLD- PLEDGED GOLD)= 182.84 tonnes //
END
SILVER/COMEX
NOV 11. 2024
INITIAL
//2024// THE NOV 2024 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
785,943,110 oz CNT Delaware HSBC L:oomis
.
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
604,341.580 oz
Loomis CNT
No of oz served today (contracts)
0 CONTRACT(S) (NIL OZ)
No of oz to be served (notices)
39 contracts (195,000oz)
Total monthly oz silver served (contracts)
833 Contracts (4.165 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
i) 0 dealer deposit/
total dealer deposit : NIL oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 customer deposit
i) Into Loomis 600,341.580 oz
total customer deposits 600,341.580oz
We had 4 withdrawals
i) Out of CNT 20,244.65oz
ii) Out of Delaware: 967.300 oz
iii) Out of HSBC 503,178.500 oz
iv) Out of Loomis; 161,492.960 oz
total withdrawal 785,983.110 oz
JPMorgan has a total silver weight: 134.401million oz/312.094million or 42.81%
adjustment 0
TOTAL REGISTERED SILVER: 70.073MILLION OZ//.TOTAL REG + ELIGIBLE. 312.0-94 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR NOV
silver open interest data:
FRONT MONTH OF NOV /2024 OI: 39 OPEN INTEREST FOR A LOSS OF 179 CONTRACTS
WE HAD 179 NOTICES FILED ON FRIDAY SO WE GAINED 0 CONTRACTS OR NIL OZ UNDERWENT A QUEUE JUMP
DECEMBER SAW A LOSS OF 68009 CONTRACTS DOWN TO 92,835 CONTRACTS
JANUARY SAW A GAIN OF 18 CONTRACTS UP TO 1129
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 for .000 MILLION oz
CONFIRMED volume; ON FRIDAY 93,803 huge t.a.s. enhanced
To calculate the number of silver ounces that will stand for delivery in NOV we take the total number of notices filed for the month so far at 833x 5,000 oz = 4.165 MILLION oz
to which we add the difference between the open interest for the front month of NOV (39) and the number of notices served upon today (0)x (5000 oz)
Thus the standings for silver for the NOV 2024 contract month: 833 Notices served so far) x 5000 oz + OI for the front month of NOV(39) number of notices served upon today minus (0)x 5000 oz of silver standing for the NOV contract month equates to 4.360 MILLION OZ.
New total standing: 4.360 million oz.
There are 70.073 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
NOV 11 WITH GOLD DOWN $75.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 3.74 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 883.46 TONNES
NOV 8 WITH GOLD DOWN $11.85 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 2.87 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 883.46 TONNES
NOV 7 WITH GOLD UP $30.50 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 3.45 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 883.46 TONNES
NOV 6 WITH GOLD DOWN $72.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.72 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 886.91 TONNES
NOV 5 WITH GOLD UP $4.05 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:.// . // .///INVENTORY RESTS AT 888.63 TONNES
NOV 4 WITH GOLD DOWN $2.45 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 3.16 TONNES OF GOLD OUT OF THE GLD.// . // .///INVENTORY RESTS AT 888.63 TONNES
NOV 1 WITH GOLD UP 0.15 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 0.86 TONNES OF GOLD INTO THE GLD.// . // .///INVENTORY RESTS AT 891 TONNES
OCT 31 WITH GOLD DOWN $49.55 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.87 TONNES OF GOLD INTO THE GLD.// . // .///INVENTORY RESTS AT 892.65 TONNES
OCT 30 WITH GOLD UP $20.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.72 TONNES OF GOLD INTO THE GLD.// . // .///INVENTORY RESTS AT 889,78 TONNES
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: 876.85 TONNES, TONIGHTS TOTAL
SILVER
NOV 11 WITH SILVER DOWN $0.79 //SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 374,000 OZ INTO THE SLV. /// //INVENTORY AT SLV RESTS AT 477.527 MILLION OZ
NOV 8 WITH SILVER DOWN $0.43 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 2.005 MILLION OZ INTO THE SLV. /// //INVENTORY AT SLV RESTS AT 477.846 MILLION OZ
NOV 7 WITH SILVER UP $0.11 //NO CHANGES IN SILVER INVENTORY AT THE SLV: /// //INVENTORY AT SLV RESTS AT 475.841 MILLION OZ
NOV 6 WITH SILVER DOWN $1.41 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.692 MILLION OZ FROM THE SLV/.//// //INVENTORY AT SLV RESTS AT 475.841 MILLION OZ
NOV 5 WITH SILVER UP 0.18 :SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.109 MILLION OZ FROM THE SLV/.//// //INVENTORY AT SLV RESTS AT 479,533 MILLION OZ
NOV 4 WITH SILVER DOWN $0.08 :SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 547,000 OZ.//// //INVENTORY AT SLV RESTS AT 480.642 MILLION OZ
NOV 1 WITH SILVER DOWN $0.10 : NO CHANGES IN SILVER INVENTORY AT THE SLV:.//// //INVENTORY AT SLV RESTS AT 481.189 MILLION OZ
OCT 31 WITH SILVER DOWN $1.26 : HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.647 MILLION OZ OF SILVER INTO THE SLV//.//// //INVENTORY AT SLV RESTS AT 481.189 MILLION OZ
OCT 30 WITH SILVER DOWN 38 CENTS : NO CHANGES IN SILVER INVENTORY AT THE SLV.//// //INVENTORY AT SLV RESTS AT 477.542 MILLION OZ
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 477.527 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 GATA DISPATCHES
Jan Nieuwenhuis: Europe is preparing for a new gold standard
Submitted by admin on Fri, 2024-11-08 19:07 Section: Daily Dispatches
By Jan Nieuwenhuijs Money Metals Exchange, Eagle, Idaho Friday, November 8, 2024
Countries outside the eurozone but inside the European Union — that is, those that one day might join the eurozone, like Poland, Hungary, and the Czech Republic — are positioning for a new gold standard.
To prepare for a monetary system based on gold, they are buying gold to equalize their reserves to the eurozone average. This balancing of gold reserves in Europe is a key topic I have written about extensively.
And now, additional evidence of these plans has come out, this time from Konrad Raczkowski, former minister of finance of Poland.
Raczkowski recently argued that official gold reserves in Europe must be evenly distributed relative to gross domestic product, which “in the near future … will be the new gold standard.”
His statement adds to a vast body of proof regarding Europe’s preparations for a gold standard. …
In the latest episode of the Peter Schiff Show, Peter dissects Donald Trump’s dominant election victory and spends most of the show evaluating America’s economic prospects under his second term. He also hits on Bitcoin’s recent price surge and announces a new lawsuit launched against the IRS and other parties responsible for the closing of Peter’s bank in Puerto Rico.
Peter starts the episode by pointing out the obvious reason Trump won. Despite what the media and political class insists, it’s not bigotry or hatred:
“I want to remind my audience why he won and why I was so confident for so long that he was going to win. He won because the economy is lousy. That’s why he won the first time in 2016. That’s why I predicted he was going to win in 2016, because back in 2015, the media was selling the same BS—mainstream media, Wall Street—that we had a great economy. … Donald Trump was basically saying the same thing that I was. It was almost like he was watching my podcast and then going out and stomping on the campaign trail, talking about how the economy was actually bad, how the numbers were a fraud.”
“He got 20% of the African American vote. I mean, it dwarfs what he got the first time—I think he got 88% white support and maybe 12% African American. Twenty percent! That’s the biggest percentage of the African American vote that Republicans have had in, I don’t know, 20 years…
The guy’s supposed to be a racist, and he’s getting more African American support than other Republicans who supposedly were racist. Why did he get all these African American votes? Because they’re suffering in this economy.”
Much of the Trump campaign’s rhetoric on deregulation is solid. Peter, however, urges caution on deregulating the financial sector. Unless banking subsidies and bailouts are taken off the table, further deregulation will just reward banks for bad fiscal behavior:
“In banking, it’s almost not really two wrongs make a right, but two wrongs make a lesser wrong. So once you make the mistake of providing all these subsidies and government guarantees to banks, then the government needs to step up and regulate them because you’ve now eliminated the free market regulation. So now what they’re going to do is deregulate the banks so they can take even bigger risks with taxpayer money.”
The GOP has a strong mandate to reform the federal government, and they should. But it’s unlikely they’ll actually make meaningful change:
“Politicians have been promising for years to cut waste, fraud, and abuse. They never do it. Yes, when Elon Musk bought Twitter, he made major cuts. He had the kitchen sink, and he got rid of a lot of dead wood. That’s because he owned the company. He could do what he wants. He’s not going to be able to do that with the government. The real spending cuts are going to have to get approved by Congress.”
“The Fed is going to have to go back to QE, which is what I’ve been saying they’re going to do. The only way to stop long-term interest rates from soaring and crushing the economy, the stock market, the banks, and everything Trump is promising to pump up, is if the Fed goes back to quantitative easing to monetize the massive budget deficits that the tax cuts produce—at least in the short run.”
The worst case for Trump’s second term is a major financial crisis. If the economy blows up in the next four years, Trump will be blamed, and the left will benefit:
“If everything collapses right away, you know, see what Trump did, and they’re going to tie Trump to capitalism, free markets, deregulation, less government. So they’re going to really hang this collapse on free-market capitalism and Trump. And if you thought Kamala was left-wing, wait till you see who we elect in four years, you know, because of this collapse.”
FRBNY gold short with the BIS falls another 31 tonnes to 93 tonnes. With Trump coming to power in January you can be assured that this will fall to zero
(Robert Lambourne)
Robert Lambourne: BIS gold swaps fell 17% in October amid hints of price reset
Submitted by admin on Sat, 2024-11-09 22:43 Section: Daily Dispatches
By Robert Lambourne Saturday, November 9, 2024
The October statement of account for the Bank for International Settlements (BIS) was published this week —
— and it indicates that the volume of gold swaps undertaken by the bank fell to 93 tonnes as at 31 October from 112 tonnes at 30 September, a decline of 19 tonnes or 17%.
Table 1 below sets out the historical level of monthly gold swaps estimated since August 2018. As is evident from the table there is still a considerable level of gold being traded via these swaps. While the BIS’ gold swaps are down significantly from the 501 tonnes estimated in January 2022, the level seemingly remains quite volatile, suggesting the use of swaps to cover shorter-term trading requirements.
To repeat the point made regularly in these reports, it seems that these swaps are undertaken by the BIS for one or more of its central bank customers with the swapped gold being accounted for as being held in a BIS-registered sight account at a central bank. Given what is happening in the gold market more generally, it appears reasonable to assume that the Federal Reserve is the BIS’ customer for the swaps transactions.
The evidence strongly suggests that bullion banks are the source of this gold and the supply comes from gold registered as being held by gold exchange-traded funds (ETFs).
— confirms GATA’s estimate of the bank’s gold swaps as of March 31 in Table 1 of 72 tonnes.
The BIS annual report contains information that also confirms certain assumptions used to estimate the swap volumes. This includes confirmation that the BIS continued to hold 102 tonnes of its own gold. The annual report also provides strong support, via its reporting on transactions with related parties, that the gold comes from bullion banks rather than central banks.
However, the BIS continues to offer no explanation for why it is undertaking gold swaps.
The BIS first reported gold swaps in its annual report for 2009-10, so gold swaps have been provided by the BIS for its customer central banks for more than 15 years. See Table 2 below for the year-end level of gold swaps reported by the BIS in its annual reports since March 2010.
Table 1 — Gold swaps estimated by GATA from BIS monthly statements of account
GATA uses gold prices quoted by USAGold.com to estimate the level of gold swaps held by the BIS at month-ends.
There seem to be no reasons to alter the assumption that the BIS is continuing to enter these swaps on behalf of the Federal Reserve. There is no evidence to suggest that any other major central bank is actively trading this much gold, and many central banks are still accumulating physical gold.
As noted above, the basic transaction that the BIS is believed to undertake is to swap dollars for gold that is transferred from a bullion bank, then to deposit this gold in a gold sight account at a central bank, presumed to be the Fed but almost certainly being the central bank that is using the BIS to execute the gold swap on its behalf.
Given the recent volatility in BIS gold swaps, it seems likely that most are of a short duration. Why a central bank needs the BIS to undertake gold swaps isn’t clear. The swaps are likely connected with short-term trading needs and perhaps are being used to aid suppression of the gold price via the futures markets.
The volatility in the volume of swaps is clear from a review of Table 1 above. Volumes of swaps in 2023 and so far in 2024 remain well below the average seen in the preceding four years, but they remain significant. The gold price increased to $2,744 at October 31 from $2,635 at September 30 (per USAGold.com).
Using the October 31 gold price, the 93 tonnes of gold swaps outstanding via the BIS at the month-end are valued at about $8.2 billion.
So the recent trading in BIS gold swaps has high dollar value and shows that gold remains a significant monetary asset still actively traded on behalf of at least one central bank, presumably the Fed.
As ever with the BIS, it remains unlikely that more information about why it undertakes these transactions will be provided. No such information was provided in the recently published annual report, which covered the year ending March 31, 2024.
GATA commentary on gold price suppression
GATA’s research on gold price suppression indicates that an active policy of price suppression was implemented around 30 years ago and was primarily intended to hold down interest rates. Recent updates on this research are provided by the presentations GATA secretary/treasurer Chris Powell and Chairman Bill Murphy made in November 2023 at the New Orleans Investment Conference:
In a more recent dispatch Powell laments that so much of the bullish commentary on gold fails to highlight the regular and repeated efforts to suppress the gold price during the past 30 years. He argues that this bullish commentary provides an incomplete view of the risks as well as the rewards of gold ownership even as the financial outlook for the U.S. government seems fraught amid so much debt:
This influential report from 2005 about “Gibson’s Paradox” remains relevant and highlights work in this area by former U.S. Treasury Secretary and Harvard University President Lawrence Summers:
It also remains relevant to highlight the following remarks made in a speech by Summers on September 8, 1999, as reported in the book “The Wealth of Progressive Nations: The Collected Lectures of Lawrence Summers.” The remarks below are an extract of a section of the speech titled “A New Economic Paradigm.”
“Most important of all, the Clinton-Gore administration has established a new paradigm for the management of our nation’s budget, with enormous cumulative benefits for our economy and our citizens. It has become a commonplace to remark on how exceptional today’s 4.2% unemployment rate is relative to any expectation at the beginning of the decade. It is no less remarkable that today, after 8.5 years of expansion, long-term interest rates are around 2 percentage points lower than they were at its start.”
From this it is reasonable to conclude that keeping interest rates lower was considered a priority by the Clinton-Gore administration and succeeding at it was thought to be “remarkable.” While this is not proof that gold price suppression was undertaken specifically to reduce interest rates, it shows that reducing interest rates was a priority for the U.S. government.
Further evidence of this priority is provided by an interview with former Treasury Secretary Robert Rubin about his time working in the Clinton administration after January 1993. In answer to a question on the initial decision to prioritize deficit reduction, Rubin remarks: “On the other hand, if interest rates go down as a result, then that will stimulate growth, and we thought that the beneficial effect of lower interest rates would outweigh the contractionary impact of the deficit reduction”:
Hence there is plenty of evidence that keeping interest rates low was a major goal of the Clinton presidency.
In the context of gold price suppression being used to reinforce efforts to reduce interest rates, the following report issued by GATA in 2007 with an analysis of the gold market by Frank Veneroso is a notable reference as it confirms that GATA’s primary assertions about gold price suppression were plausible, including under-reported sales of official gold:
“I find it extremely annoying that there is a hell of a lot of obvious evidence out there that something is happening in the gold market — that there are very large supplies coming into the market — larger than the consensus would claim — and no one is willing to discuss it.”
Veneroso further notes that maybe as much as 10,000 to 16,000 tonnes of gold may have been lent out starting in the 1980s and going on into the 1990s. This extra supply of gold will have suppressed gold prices and resulted in double counting of official gold, which, having been lent out, may have been used, for example, to satisfy jewelery demand.
More recent trends in U.S. government deficits
The remarks of Rubin and Summers on the U.S. government’s priorities in the 1990s are reminders of how much the financial positions of Western nations have worsened since then.
The worsening trend for Western nations, especially the United States, probably reduces the appeal to the BIS of undertaking gold swaps on behalf of any central bank where a liability to return swapped gold is incurred. The trend possibly also reduces the appeal of any such swaps to the central bank or banks for which the BIS has been acting.
A report issued by GATA in 2012 is worth revisiting as it highlights the acknowledgment of gold price suppression by a former chairman of the BIS, Jelle Zijlstra, a Dutch politician, economist, and central banker. So it seems likely that BIS management understands what the swaps are being used for and why no reasons for the transactions are given.
The conundrum facing the Federal Reserve about dollar interest rates has seemingly been resolved for now with the Fed’s decision to reduce rates close to the presidential election with further cuts suggested by the end of the year. Further market turmoil driven possibly by Japanese interest rates and currency levels may change this assumption rapidly, given the high level of government debt in both countries.
Despite its opaque rhetoric, the Fed needs to sustain confidence in the U.S. stock market and the Treasuries market when the government’s ever-increasing debt has become so controversial. Forthcoming new debt issuance is being monitored even more closely by investors.
The Treasury Department’s monthly report on September 2024 revenue and expenditure shows a 12-month deficit of $1.83 trillion and points toward a broadly similar or higher level of cash outflows in the current fiscal year to September 2025. The total of Treasury securities outstanding at September 30 is about $35.5 trillion, including about $7.2 trillion of notional debt held by federal government-supported trust funds (Special Debt).
The higher interest charge being reported virtually each month is one reason for the deficit to increase. The run rate of gross interest costs reported in the 12 months to 30 September 2024 has now reached $1.13 trillion, despite a more muted level of annual interest payments on the approximately $7.2 trillion of Special Debt. This more muted increase is perhaps indicative of the pressure to keep a lid on interest costs.
In these circumstances the room for the Fed to raise interest rates in the next few years seems restricted and hence it seems likely as noted above that the BIS and some of its member central banks might be questioning the role of the BIS in these swaps and the obligation to make future deliveries of gold, since the Fed may be unable to move interest rates high enough to contain inflation.
In this context the relatively stable price of oil is relevant as it seems that strong forces want to keep oil prices subdued despite developments that might be expected to result in higher prices, such as production cuts by major producers and the dangers to shipments through the Red Sea. With the presidential election in the United States now concluded, there appear to be less strong political incentives to contain oil prices, and even moves in the last 18 months to consolidate the number of oil producers in the U.S., which might have been tacitly encouraged in return for commitments to keep production high, may be about to boost prices with the industry being more consolidated going forward.
The direction of oil prices now might prove to be important influences on the timing of a gold price reset, as there appears to be little effort by the Fed and Treasury Department to acknowledge that federal debt levels have become extremely high.
The report at the following link, which reviews the possible connection between hedge funds’ basis trades in U.S. Treasuries and the Fed’s program of quantitative tightening, could be read as another sign of how difficult it is to locate purchasers of U.S. Treasuries at current prices:
This further link contains a commentary on the apparent enrichment of certain hedge funds and the individuals involved as a result of the apparent support from the Fed to the hedge fund basis trade used to effect “quantitative tightening”:
It also seems that the incentives for foreigners to own U.S. Treasuries are diminishing as efforts to confiscate Russian assets appear to be moving forward. Saudi Arabia has apparently warned that any such confiscation may cause it to sell its U.S.Treasuries.
Again, it seems appropriate to note that a report titled “Living with High Public Debt,” authored by Serkan Arslanalp and Barry Eichengreen, was published in August 2023 by the Federal Reserve Bank of Kansas City. This report reinforces just how difficult it is to handle high federal government debt with spending far in excess of revenue.
The report can be found at the Kansas City Fed’s internet site and at GATA’s:
“Looking forward, the challenges are daunting. Given aging populations, governments will have to find additional finance for healthcare and pensions. They will have to finance spending on defense, climate change abatement, and adaptation, and the digital transition. A growing number of low-income countries are already in debt distress.
“Living with high public debt therefore means avoiding steps that make a bad situation worse. This means minimizing unproductive public spending. It means targeting social transfers as a way of limiting pressures on the expenditure side. It means limiting contingent liabilities by, inter alia, adequately regulating banks and avoiding recapitalization costs.
“It means contemplating tax increases where revenues are low by international standards. It means further developing financial markets where markets are underdeveloped and where a diverse population of local investors in debt securities is absent. It means embracing legal and procedural changes that streamline and speed restructuring for countries whose debts are unsustainable.
“This modest medicine does not make for a happy diagnosis. But it makes for a realistic one.”
In the circumstances, vividly described in the report, it seems unsurprising that the price of gold has increased so far in 2024. The report offers yet more reason to question whether gold swaps undertaken via the BIS, probably on behalf of the Fed, are being used to suppress the dollar gold price and may even represent double-counted gold supposedly held by ETF’s.
Debt problems in China and other countries
The International Monetary Fund has highlighted the high level of non-financial debt in many countries in recent reports and its own figures for non-financial debt to GDP include as of Q2 2023 Japan 414%, France 323%, China 308%, USA 253%, UK 237%, Germany 186%, and India 182%. The IMF is clearly signaling concern over the debt overhang.
Recent reports in Western news media on efforts by the Chinese government to stimulate a recovery in its economy, especially its property sector, are worthy of comment as at least one experienced long-term observer of the Chinese economy considers that China needs to devalue its debt and possibly achieve this by way of a gold price revaluation. Even last week saw new reports on efforts to refinance the debt of local authorities in China.
This video below of Professor Russel Napier at an investment conference this year includes his insights into the debt situation in China and his view that much of this debt needs to be written off. He forecasts that gold will rise in price in dollars as a result of this debt write-off, which could be achieved by a gold price reset. Professor Napier is the author of “The Asian Financial Crisis 1995-98” and a well-known investment adviser and economic historian:
Napier goes further and suggests in the video that Chinese President Xi Jinping has the ability to decide when to trigger a gold price reset and that it will change global trade dramatically. A decision by China to devalue the yuan versus gold would almost certainly force the United States to follow and would probably lead to bans or extremely high tariffs on Chinese exports to the U.S.
If Professor Napier is correct, then any attempts by President-elect Donald Trump to introduce substantial tariffs on Chinese exports might trigger a decision by the Chinese to reset the yuan gold price, since one of the major adverse consequences of a unilateral Chinese decision to trigger a gold price reset — namely the loss of their export trade to the U.S. — would have already happened.
So the price of gold could soar if Trump carries out what he has said he will do.
If Trump acts more cautiously, then maybe an agreed joint U.S. and China gold price reset might happen in 2025. The chances that the U.S. federal deficit will continue to be voluntarily funded in 2025 seem really bleak, not only because of the possible adverse implications of Trump’s tax and spending plans, but especially as hedge funds have already been used and seemingly are really holding Treasuries only as a stopgap for maybe two years, a term that will start running out later in 2025.
In the opinion of this writer, Napier’s ideas on how gold may be re-used in a new financial system are credible. They fit in with a trend identified by people close to governments such as Robin Niblett, the former head of Chatham House, a research organization specializing in international relationships. Niblett’s book “The New Cold War” examines the likely future competition between China and the U.S. Niblett makes no reference in his book to the use of gold in the future.
Another interesting book is “The Red Emperor” by Michael Sheridan, which examines Xi Jinping and modern China. The prologue to the book is set out below in the appendix. It provides an insight into an unusual and powerful man who may be a key decision maker in ending the current version of gold price suppression.
Historical context of the gold swaps
The BIS rarely comments publicly on its gold activities, but its first use of gold swaps was considered important enough to cause the bank to give some background information to the Financial Times for an article published on July 29, 2010, coinciding with publication of the bank’s 2009-10 annual report.
The general manager of the BIS at the time, Jaime Caruana, said the gold swaps were “regular commercial activities” for the bank, and he confirmed that they were carried out with commercial banks and so did not involve central banks. It also seems highly likely that the BIS’ remaining swaps are still all made with commercial banks, because the BIS annual report has never disclosed a gold swap between the BIS and a major central bank.
The swap transactions potentially created a mismatch at the BIS, which may have ended up being long unallocated gold (the gold held in BIS sight accounts at major central banks) and short allocated gold (the gold required to be returned to swap counterparties). This possible mismatch has not been reported by the BIS.
The gold banking activities of the BIS have been a regular part of the services it offers to central banks since the bank’s establishment 90 years ago. The first annual report of the BIS explains these activities in some detail:
A June 2008 presentation made by the BIS to potential central bank members at its headquarters in Basel, Switzerland, noted that the bank’s services to its members include secret interventions in the gold and foreign exchange markets:
The use of gold swaps to take gold held by commercial banks and then deposit it in gold sight accounts held in the name of the BIS at major central banks doesn’t appear ever to have been as large a part of the BIS’ gold banking business as it has been in recent years, although the recent declines suggest this may be changing.
As of March 31, 2010, excluding gold owned by the BIS, there were 1,706 tonnes held in the name of the BIS in gold sight accounts at major central banks, of which 346 tonnes or 20% were sourced from gold swaps from commercial banks.
If the BIS was adopting the level of disclosure made by publicly held companies, such as commercial banks, some explanation of these changes probably would have been required by the accounting regulators. This irony may not be lost on those dealing with regulatory activities at the BIS. Presumably the shrinkage of the BIS’ gold banking business shows that even central banks now prefer to hold their own gold or hold it in earmarked form — that is, as allocated gold.
Table 2 below highlights recent BIS activity with gold swaps, and despite the recent declines, the recent positions estimated from the BIS monthly statements have regularly been large, especially in early 2022, and the volume of trading has been significant.
Table 2 Year end BIS gold swap volumes
March 2010: 346 tonnes March 2011: 409 tonnes March 2012: 355 tonnes March 2013: 404 tonnes. March 2014: 236 tonnes. March 2015: 47 tonnes. March 2016: 0 tonnes. March 2017: 438 tonnes. March 2018: 361 tonnes. March 2019: 175 tonnes March 2020: 326 tonnes March 2021: 490 tonnes March 2022: 358 tonnes March 2023: 77 tonnes March 2024: 72 tonnes
4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/no 198 ANDREW MAGUIRE WITH PETER KRAUTH
TOPIC SILVER SUPPLY CRUNCH!!
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES: ALUMINA
.
6 CRYPTOCURRENCY NEWS
Bitcoin tops $82,000 as crypto euphoria over Trump win shows no sign of waning
MON, NOV 11 20245:50 AM EST
Katrina Bishop CNBC
KEY POINTS
*Citi strategists highlight that crypto has been one of the “few Trump trades that has yet to retrace.”
*On the campaign trail, President-elect Donald Trump announced a slew of promises to the crypto industry, including making the U.S. the “crypto capital of the planet.”
*Looking ahead, some analysts expect crypto to continue to rise, with a number saying bitcoin is on track to hit the $100,000 milestone by the end of the year.
Bitcoin hit another high Monday, as the rally in cryptocurrencies continued following Donald Trump’s election win.
The price of the flagship cryptocurrency was last higher by 3% higher at $81,854.98, according to Coin Metrics. Earlier, it rose as high as $82,526.33. Ether
was little changed, after a 30% gain in the past week that pushed it back over the $3,000 mark over the weekend.
Bitcoin touches $80,000 on Sunday for the first time ever.
Susannah Streeter, head of money and markets at investment platform Hargreaves Lansdown, noted that crypto’s march higher comes amid “euphoria” in the market unleashed by Trump’s presidential win last week.
“His pledge to go all in on crypto has sent Bitcoin to fresh heady heights,” she said in a research note Monday.
“He’s made an about turn on supporting the industry and is now vowing to turn the U.S. into the crypto capital of the world. Bitcoin speculators are betting on a more clement regulatory environment, and have expectations that the authorities may build up a reserve crypto fund, helping lift ongoing demand.”
On the campaign trail, Trump made a slew of promises to the crypto industry, including making the U.S. the “crypto capital of the planet” and insisting that all bitcoin should be mined in the country.
He also pledged to unseat U.S. Securities and Exchange Commission Chairman Gary Gensler — who has taken an aggressive approach to crypto — despite the fact that the president does not have the power to do so.
Bitcoin’s on track to hit $100,000 after Trump’s election victory, analysts say In a research note last week, Citi strategists highlighted that crypto had been one of the “few Trump trades that has yet to retrace.”
“Part of the reason is due to the anticipated cryptofriendly nature of Trump’s administration, which investors hope will translate into regulatory clarity in the U.S.,” the strategists, led by David Glass, said.
They noted that since the election, spot crypto ETFs had seen some of their largest-ever inflows.
“Specifically, net inflows for BTC and ETH ETFs in the two days post-election were $2.01bn and $132mn, respectively,” they said. “We continue to see ETF flows as the main driver of Bitcoin returns.”
Looking ahead, some analysts expect crypto to continue to rise, with a number saying bitcoin is on track to hit the $100,000 milestone by the end of the year.
END
ASIA TRADING MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED UP 17.77 PTS OR 0.51%
//Hang Seng CLOSED DOWN 301.26 PTS OR 1.45%
// Nikkei CLOSED UP 32.95 OR 0.08%//Australia’s all ordinaries CLOSED DOWN 0.39%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1965 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2209// Oil UP TO 69.21 dollars per barrel for WTI and BRENT UP AT 72.75 Stocks in Europe OPENED ALL 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 MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.1965
OFFSHORE YUAN: DOWN TO 7.2209
SHANGHAI CLOSED CLOSED UP 17.77 PTS OR 0.51%
HANG SENG CLOSED CLOSED DOWN 301.26 PTS OR 1.45%
2. Nikkei closed UP 32.95 PTS OR 0.08%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 105.39 EURO FALLS TO 1.0660 DOWN 50 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +0.995 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 160.86…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen UP 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 DOWN for WTI and DOWN FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.3480 Italian 10 Yr bond yield DOWN to 3.621 //SPAIN 10 YR BOND YIELD DOWN TO 3.085
3i Greek 10 year bond yield DOWN TO 3.219
3j Gold at $2661.50 /Silver at: 31.27 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 6/100 roubles/dollar; ROUBLE AT 97.97
3m oil into the 69 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 153.82 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.995% 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 0.8792 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9373 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: 4.353 UP 4 BASIS PTS…
USA 30 YR BOND YIELD: 4.472 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.250 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 34.34…
10 YR UK BOND YIELD: 4.496 UP 6 PTS
10 YR CANADA BOND YIELD: 3.180 DOWN 3 BASIS PTS
5 YR CANADA BOND YIELD: 3.012 DOWN 2 PTS.
2a New York OPENING REPORT
Futures Hit 51st Record High Of 2024 As Trump Trades Storm Higher
Monday, Nov 11, 2024 – 08:19 AM
The post-Trump rally has returned full force, and US equity futures are sharply higher and well above 6,000 in what should be a light volume day with bonds closed due to the Veteran’s Day holiday. As of 8:00am ET, the breakdown is as follow: S&P futures 0.46bps, which hit their 50th all time high for 2024 on Friday; NDX +38bps; RTY +146bps; Crude -222bps; Bitcoin +290bps and at a record over $82,000 with global markets trading broadly higher as they continue to digest US election results + FOMC cut last week. R2K the standout and remains in focus, up over 8.5% last week for its best week since March of 2020. S&P + NDX both closed the week at ATHs. As JPM writes in its market intel note, the Trump Trade has potential to strengthen; TSLA is +7% pre-mkt as small caps outperform by ~1%-pt. The balance of Mag7 are weaker as are Semis, Financials continue to be bid up in what is a new regime. While US bond markets were shut for a holiday (although futures indicate a roughly 5bps rise in yields), the dollar rallied 0.3% against a basket of currencies, adding to a six-week winning streak as both EUR and JPY come from sale. Dollar strength appear to be weighing on commodities as China stimulus once again disappoints and is sold; gold reversed an earlier gain to trade at session lows of $2,660. Meanwhile, Trump and Elon Musk are making demands of the next Senate Republican leader, including allowing the President-elect to make recess appointments without Senate approval. No US data or Fed speakers scheduled for the session.
In premarket trading, the biggest gainer of the day was Tesla which rose as much as 7.3%. Its valuation surpassed $1 trillion on Friday, on a view that a Trump presidency will be a positive for Elon Musk’s company. Crypto-linked stocks also gained in premarket trading as Bitcoin rallied past $82,000 for the first time on the prospect of a Republican-led Congress with pro-crypto lawmakers (Riot Platforms (RIOT US) +14%, MARA Holdings (MARA US) +19%, Bit Digital (BTBT US) +21%, Coinbase (COIN US) +16%, Hut 8 Mining ADRs (HUT US) +12%, MicroStrategy (MSTR US) +11%, Robinhood Markets (HOOD US) +10%). Here are some notable premarket movers:
Cabot (CBT US) shares fall 1% after the carbon black company was downgraded to underweight from neutral at JPMorgan.
Celanese (CE US) shares slip 0.7% after the specialty materials company was cut to underperform from market perform at BMO Capital Markets, which said there were “too many risks ahead for too little reward.”
Cisco Systems (CSCO US) shares rise 1.9% as JPMorgan lifted the maker of computer networking equipment to overweight from neutral, citing recovery in networking and further valuation headroom.
“Between now and the end of the year, I can easily see how the US market particularly will continue to be strong on hopes that everything Trump has said will come to pass, particularly when it gets confirmed that he got a clean sweep,” said Nick Clay, portfolio manager at Redwheel.
While it feels like the year is largely over and it’s all autopilot until 2025, the wait is now on for the next slug of inflation data due Wednesday for clues on the Federal Reserve’s interest-rate trajectory, with annual price growth seen to have quickened slightly to 2.6% in October. Traders will also listen out for Fed policymakers’ speeches after Minneapolis Fed President Neel Kashkari indicated on weekend that rates could ease less than previously expected due to the strong economy (amazing how that happened just days after Trump won).
In Europe,the Estoxx 50 advanced 1.2% on the day, with construction, chemical and industrial shares leading gains. While Trump’s pledge to impose hefty tariffs on trade partners has weighed heavily on European shares, the Stoxx 600 index rebounded after three weeks of declines. The gauge added 0.9%, with all industry groups in the index climbing, as the mood was lifted by a slew of robust company earnings, including German tiremaker Continental AG and insurance firm Hannover Re. Here are the biggest movers Monday:
Continental rises as much as 9.3%, the most since July, after the German firm reported third quarter Ebit that beat estimates. Bernstein says the beat is due to strength in the tire division
Croda rises as much as 5.5% as the chemicals company reconfirms full-year guidance amid stable demand and cost efficiency measures. Analysts point to life sciences as a stand-out performer
Swiss Re shares rise as much as 4.7% to their highest level since 2002, after a double upgrade from UBS, which says the stock is now its preferred European reinsurer instead of Munich Re
Hannover Re shares advanced as much as 4.3% as the German reinsurer raised its 2024 profit target and forecast net income for 2025 of about EU2.4 billion
Ceres Power rallies as much as 11% on Monday, snapping a run of five straight declines, as Jefferies upgrades to buy on growing market awareness of the company’s technology
Cellnex shares rise as much as 2.3% after the tower operator said it’s in talks with credit rating agencies to assess whether it can start returning capital to shareholders next year
Pantheon Resources shares jump as much as 18% to touch 4-1/2-month highs, after the oil and gas company began drilling the Megrez-1 well in the Ahpun field in Alaska
Leonardo rises as much as 5.2%, to highest since Sept. 2000, after both Bernstein and Mediobanca boost their price targets on the Italian defense company to a new Street-high of €30
NatWest rises as much as 2.1% after the bank bought £1b of its own shares from the UK government, as part of the directed buyback program. Shore Capital says this came sooner than expected
Lem Holding tumbles as much as 21%, to the lowest level since March 2020, after the Swiss electrical components maker posted underwhelming first-half results and issued a weak outlook
Earlier, Asian equities fell by the most in a month as Beijing’s latest economic measures disappointed the market, and soft China inflation data signaled that recent efforts to spur economic growth have not been enough. China’s CSI 300 benchmark fell as much as 1.4%, before erasing losses to close with modest gains. Oil pared losses to trade flat after China’s latest efforts disappointed markets. The MSCI Asia Pacific Index fell as much as 1.3% before trimming some losses, with Samsung Electronics among the biggest drags alongside Chinese megacaps Tencent and Meituan. Most key gauges in the region were in the red, with the Hang Seng Index falling 1.5%. South Korea’s Kospi fell more than 1%, while Japanese shares closed little changed. While stocks in Hong Kong slid, those on the mainland recovered a 1.4% drop to close the day higher. The mixed reactions underscore investor confusion over Beijing’s stimulus announcement, which stopped short of providing new plans to rev up its consumption or the property sector. China unveiled a 10 trillion yuan ($1.4 trillion) program Friday to refinance “hidden” local debt. Figures released over the weekend showed anemic consumer inflation in October while producer prices continued falling, indicating government stimulus has been insufficient to pull the economy out of deflation
“The latest debt swap provides temporary relief to local government finances, benefiting sectors like real estate and banking,” said Billy Leung, an investment strategist at Global X ETFs. “However, the swap’s limited scale and lack of consumer-focused stimulus leave broader markets cautious. Note that there are still concerns on tariff pressures and domestic monetary easing efforts which could have execution challenges.”
In FX, the Bloomberg Dollar Spot Index rises 0.4% and remains near best levels of the day into early US session, while the euro fell to its lowest versus the dollar since June 27 amid broad dollar strength with the yen leading losses (EUR/USD dropped 0.3% to 1.0682, down a second day). USD/JPY rallies 0.8% to 153.85 with US Treasury futures under pressure
In rates, treasury futures opened down in Asia and have broadly held losses, leaving the 10-year tenor lower by around 9 ticks on the day. There is no cash Treasuries trading due to a US holiday, but the drop in futures points to a 10-year yield that’s roughly 5 basis points higher than Friday’s closing levels.
US 10-year note futures sit around the 110-00 level, down around 9 ticks on the day. Further out, ultra-long bond futures are down around 12 ticks, implying a bear-steepening move in cash yields. In Europe, Bunds – which are open – advance with German yields richer by as much as 3.5bp across long-end of the curve, with the impact of potential German elections on the country’s debt brake and future issuance unclear. Back in the US, the treasury auction slate resumes Nov. 20 with 20-year bond sale; 2-, 5- and 7-year note auctions are scheduled week commencing Nov. 25.
In commodities, oil prices decline, with WTI falling 1.5% to $69.30 a barrel. Spot gold drops $15 to $2,670/oz. Iron ore declined toward $100 a ton.
Looking at today’s calendar, no Fed members scheduled to speak on Monday, and US data slate is empty as it is Veteran’s day, and bond markets are closed. This week’s data includes CPI, PPI, Empire manufacturing, retail sales and industrial production.
Market Snapshot
S&P 500 futures up 0.3% to 6,042.50
STOXX Europe 600 up 1.0% to 511.49
MXAP down 0.9% to 187.81
MXAPJ down 0.9% to 596.07
Nikkei little changed at 39,533.32
Topix little changed at 2,739.68
Hang Seng Index down 1.5% to 20,426.93
Shanghai Composite up 0.5% to 3,470.07
Sensex little changed at 79,507.60
Australia S&P/ASX 200 down 0.3% to 8,266.22
Kospi down 1.2% to 2,531.66
German 10Y yield down 5.2 bps at 2.32%
Euro down 0.4% to $1.0672
Brent Futures down 0.8% to $73.26/bbl
Gold spot down 0.7% to $2,666.45
US Dollar Index up 0.38% to 105.40
Top Overnight News
China’s trade surplus in on pace to hit ~$1T this year, a dynamic that will create huge trade tensions between Beijing and other countries, especially the Trump-led White House. BBG
China disinflation/deflation deepens in Oct, w/the CPI coming in +0.3% (down from +0.4% in Sept and below the Street’s +0.4% forecast) and PPI at -2.9% (down from -2.8% in Sept and below the Street’s -2.5% forecast). SCMP
China’s credit expansion slowed more than expected in October, as a surge in government bond sales far exceeded growth in lending during a traditionally slow month for financing activity: BBG
Bank of Japan board members discussed the need for caution on raising its benchmark rate and offered no clear hint of a move next month, a summary of opinions from its October policy meeting showed. BBG
Taiwan is considering large US defense purchases as an overture to the incoming Trump administration, the FT reported. BBG
Israel Defense Minister Israel Katz said on Sunday that his country has defeated Hezbollah and that eliminating its leader Hassan Nasrallah was the crowning achievement. Reuters
TSMC was told by the US to halt shipments of some advanced chips to China starting today. Reuters, BBG
Powell is prepared for a legal battle if Trump attempts to hire him before the end of his term. WSJ
Citigroup’s CEO Jane Fraser expects a significant easing in bank regulations in a Trump administration. BBG
Bitcoin rallied past $82,000 for the first time, boosted by Donald Trump’s embrace of digital assets and the prospect of pro-crypto lawmakers in Congress. It won’t be long before attention shifts toward call-option buyers’ hopes for the token to top $100,000, MLIV said. BBG
Fed’s Kashkari (2026 voter) said if growth and productivity are strong, the Fed may not cut as much, while he reiterated that housing inflation will take a while to come down all the way and they have made progress but want to get the job done on inflation. Kashkari also stated that the Fed wants to have confidence inflation will go all the way back to 2% and need to see more evidence before deciding on another cut.
Edison Research projected Republicans won another seat in the US House bringing their total to 213, while Democrats have 204 seats with 218 needed for control.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks began the week mostly subdued amid China-related headwinds following the recent fiscal stimulus disappointment and softer-than-expected Chinese inflation data from over the weekend. ASX 200 was dragged lower by weakness in the commodity and consumer-related sectors. Nikkei 225 traded indecisively but with the initial downside cushioned alongside currency weakness. Hang Seng and Shanghai Comp were pressured with underperformance in Hong Kong amid losses in property and tech although some chipmakers were boosted after the US ordered TSMC to halt shipments to China of chips used in AI applications. Elsewhere, the mainland traded cautiously after last Friday’s announcement of fiscal measures disappointed those hoping for a more forceful stimulus in the aftermath of the Trump election victory, while Chinese CPI and PPI data were softer-than-expected and showed a worsening of the factory-gate deflation
Top Asian News
China’s Finance Ministry frontloads part of 2025’s central Govt. fiscal funds for affordable housing, renovation of villages, towns and residential quarters
Ishiba will continue to be the Japanese PM, after receiving 221/465 lower house votes
China International Import Expo saw a 2% Y/Y increase in intended transaction value to USD 80bln.
China and Peru will sign a deal to strengthen a Free Trade Agreement with the improved FTA to increase commerce by at least 50%, while President Xi is to travel to Peru with 400 business people interested in investing in infrastructure and technology.
TSMC (2330 TT) was ordered by the US to stop shipments to China of advanced chips used for AI applications.
BoJ Summary of Opinions from the October meeting noted a member said no change to the BoJ’s stance it will adjust the degree of monetary support if its economic and price forecasts are met and a member said they must remain vigilant regarding the overseas economic outlook and market movements. There was also the opinion that risk of a US hard landing is subsiding but it cannot yet be said with certainty that markets are stabilising, while it was noted that the BoJ must communicate clearly that it will continue to raise the policy rate if its economic and price forecasts are met. Furthermore, a member said the BoJ must take time and move cautiously in raising rates and a member also stated that Japan is not in a phase where it needs massive monetary support, so the BoJ can consider additional rate hikes after pausing temporarily to gauge US economic developments.
European bourses, Stoxx 600 (+1%) opened on a strong footing and continued to climb higher into the morning; some of the upside has since subsided, with indices now traversing best levels. European sectors hold a strong positive bias, with only Basic Resources sitting ever-so-slightly in negative territory. The sector is weighed on by slight losses in metals prices, given the continued disappointing inflation metrics out of China. Construction & Materials tops the pile, joined by Insurance and then Chemicals thereafter. US Equity Futures (ES +0.3%, NQ +0.3% RTY +1.2%) are entirely in the green, with very clear outperformance in the economy-linked RTY, with the “Trump Trade” very much still in action.
Top European News
UK Chancellor Reeves will set out the government’s plans to stimulate economic growth through the principles of stability, investment and reform, as well as hail the benefits of free trade amid impending US protectionism during her first Mansion House address on Thursday, according to FT.
UK HMRC is set to return GBP 700mln to top UK companies after the UK won an appeal against a Brussels state aid clampdown which had forced London to collect tax against its wishes, according to FT.
German Chancellor Scholz said he wouldn’t have a problem with a vote of confidence before Christmas and that there is a good chance he will win another mandate to form another government, according to CGTN Europe.
ECB’s Holzmann said a rate cut is possible in December as things look at the moment and there is nothing at the moment that would argue against that but that does not mean it will automatically happen, while he added they do not have the latest forecasts and data which they will get in December and will decide on that basis.
Fitch affirmed Spain at A-; Outlook revised to Positive from Stable, while it affirmed Poland at A; Outlook Stable and affirmed Lithuania at A; Outlook Stable. It was also reported that Moody’s upgraded Croatia to A3; Outlook changed to Stable from Positive.
EU sees little chance of a quick China deal to avoid EV tariffs, via Bloomberg
FX
DXY has started the week off on the front foot as markets continue to digest the likely impact of a Trump Presidency and a potential Republican sweep. DXY has extended above Friday’s peak at 105.20 but is yet to reclaim the post-election peak at 105.44.
EUR has extended on Friday’s losses with EUR/USD slipping further onto a 1.06 handle. Absent an improvement in the Eurozone outlook, the pair could end up testing its YTD low from 16th April at 1.0601.
GBP is softer vs. the USD but to a lesser extent than most peers with EUR/GBP hitting a fresh YTD low at 0.8282. Cable is tucked within Friday’s 1.2884-1.2989 range.
JPY is the notable laggard across the majors with the ongoing reasssessment of the relative Fed vs. BoJ policy paths continuing to guide the pair. The latest BoJ summary of opinions has been noted as a potential source of weakness for the JPY with the account continuing to highlight a lack of urgency for immediate hikes. USD/JPY has been as high as 153.85.
Antipodeans are both flat vs. the broadly stronger USD with some support garnered from the positive risk tone.
PBoC set USD/CNY mid-point at 7.1786 vs exp. 7.1813 (prev. 7.1433).
SNB Vice Chairman Martin said the central bank has made absolutely no commitment to future interest rate cuts and the next rate decision will depend on the assessment in December. Martin said the Franc is attractive as a safe haven and due to low Swiss inflation, while he added it is expected to appreciate in nominal terms in the future but real appreciation of the currency has been limited.
Fixed Income
A firmer start to the week with Bunds taking some reprieve on murmurings that the German no-confidence motion could occur sooner than thought, while such a motion will likely snuff out the traffic light coalition, at least it resolves the uncertainty. Hit a 132.59 peak early doors before stabilising around 20 ticks off this but has since inched back up to a fresh 132.61 high.
USTs are slightly softer, paring some of the gains seen on Thursday/Friday which were largely a rebound from Trump-induced pressure on Wednesday. Note, conditions today are thin with the calendar sparse and Veteran’s Day meaning cash trade is closed. Currently pivoting the 110-00 figure, a move lower has support between 109-30 to 109-07 from last week.
Gilts were initially flat, but have been inching higher in recent trade, in-fitting with peers. Attention this week is on a speech from BoE’s Bailey, remarks which will be judged to see if the hawkish bias from last week. Currently, towards the upper-end of 94.00-94.43 parameters.
Crude
Crude was initially firmer on the session but only modestly so. Focus on geopols, with the main update overnight being Qatar announcing that mediation efforts between Israel and Hamas are on hold. Thereafter, commentary via Al Arabiya that Hezbollah says there are negotiations to stop the war sparked marked pressure; Brent’Jan slumped to session lows of USD 72.79/bbl, but is just off worst levels.
Spot gold is pressured, weighed on by the stronger USD and soft performance of China overnight as the region reacted to the lack of major stimulus in Friday’s session.
Base metals are hampered by the stronger Dollar, the lack of China stimulus and disappointing CPI data from the region overnight weighing on metals generally. 3M LME Copper below the USD 9.5k handle.
BSEE estimated that approximately 27.59% of the current daily oil production and 16.67% of the current daily natural gas production in the Gulf of Mexico has been shut-in due to Tropical Storm Rafael. It was later reported that Chevron (CVX) began to redeploy personnel and restore output at its Gulf of Mexico platforms that was shut-in due to Rafael.
Saudi crude oil supply to China set to fall 36.5mln barrels in December, according to Reuters citing sources. Two other North Asian refiners to receive full Saudi crude allocation for December
Geopolitics: Middle East
Hezbollah says there are negotiations to stop the war, according to Al Arabiya.
Israeli Foreign Minister says “We are ready to end the war when our objectives are achieved”; there is progress on Lebanon ceasefire talks, working with the Americans on this. No decision on the issue of annexing areas of the West Bank. The main challenge will be to enforce what is agreed. “The war is not over yet”. Hezbollah’s capabilities are severely reduced, majority of missile capacity is destroyed. Pushes back on the prospect of a Palestinian state, does not believe this is realistic. Israel has responded positively to Gaza ceasefire proposals, Hamas has refused to move forward. Trump has made it clear he understands the danger of Iran’s nuclear ambitions
Israel called upon Israelis not to attend cultural and sports events abroad in the week ahead, according to a statement from the PM’s office.
Israeli media reported sirens heard in central Israel and the Israeli army reported interception of a missile approaching Israel coming from Yemen, according to Sky News Arabia.
Israel conducted a strike on a residential building near Damascus which resulted in casualties, according to the Syrian state news agency.
US National Security Adviser Sullivan said the US will make a judgement this week about the progress Israel made over the Blinken/Austin letter on humanitarian aid to Gaza. Sullivan also stated that President Biden will go through the top US foreign policy and domestic issues with President-elect Trump on Wednesday and Biden will make the case to Congress that they need ongoing resources for Ukraine beyond the end of his term.
Qatar’s Foreign Ministry said its mediation efforts between Israel and Hamas are currently on hold and reports it is withdrawing from the Gaza ceasefire mediation are not accurate, while it said it will resume mediating in ceasefire talks when there is enough seriousness to end the brutal war.
Iranian Foreign Minister Araqchi said a new scenario was fabricated after the US charged an Iranian man in the plot to kill President-elect Trump, while he said Iran is not after nuclear weapons and confidence building is needed from both sides.
IRGC’s Khatam al-Anbiya Headquarters deputy commander said Iran provides Hezbollah with ammunition and is not afraid of declaring it, while he added that Hezbollah has also publicly announced its affiliation with Iran, according to Iran International English.
IAEA Director General Grossi will travel to Tehran this week for high-level meetings with the Iranian government.
Iran announced the death of 5 security forces in an armed attack on the Pakistani border, according to Al Arabiya.
Iraqi armed factions announce attack on a “vital target” in southern Israel with marches, according to Sky News Arabia.
US-British aggression was reported on Yemen’s capital Sanaa and the Amran governorate, according to Al Masirah TV.
Two personnel from Saudi-led coalition forces were killed in an attack by a Yemeni Defence Ministry employee in Yemen’s Seiyun.
Geopolitices: Other
Russia’s Kremlin reports that rumors of a Putin/Trump call were false – there was no call.
US President-elect Trump spoke on the phone with Russian President Putin on Thursday and discussed the war in Ukraine, while Trump urged Putin not to escalate the war in Ukraine, according to The Washington Post.
Russian Foreign Ministry said on Saturday that there are no grounds for talking about resuming dialogue with the US on strategic stability and arms, while it added that US President-elect Trump’s promises to resolve the crisis in Ukraine fast are nothing more than rhetoric.
Russia and Ukraine launched their biggest drone attacks on each other since the start of the conflict, with several people injured in the tensions, according to LBC.
Russian President Putin signed the law on ratification of the strategic partnership with North Korea, according to TASS.
Ukrainian top military commander Syrski told a senior US general of reports regarding North Korean troops preparing to take part in combat alongside Russian forces, as well as noted that the front-line situation remains difficult and is showing signs of escalation.
Ukrainian drones hit a chemical producer in Russia’s Tula region overnight.
Chinese President Xi signed an order of regulations to guarantee military equipment, effective from December 1st.
China’s Foreign Ministry said China firmly opposes the Philippines’ Marine Zones Act which severely infringes on China’s territorial sovereignty and maritime rights in the South China Sea, while China’s Coast Guard said the Philippines has frequently sent military police, civilian vessels and aircraft to intrude into the air and sea space near Huangyan Island, which is also known as Scarborough Shoal.
Philippines aims to buy a US missile launcher in a move likely to anger China, according to FT.
US Event Calendar
Nothing scheduled/Veteran’s Day
DB’s Jim Reid concludes the overnight wrap
Although it’s Veterans’ Day today, with US bond markets closed (equities open), it’s another important week with US CPI (Wednesday) the focal point. US data may not be as heavily scrutinised as usual at the moment as with the Trump victory, the market might conclude that there may be changes in animal spirits in the near-term and policy in the medium-term. On this, any clues on Trump’s appointments may be market moving. Case in point the Dollar’s rise immediately after the FT reported late Friday afternoon UK time that Robert Lighthizer would be asked to be the US Trade Representative in the new administration. Given how central he’s been to Trump’s views on trade it was surprising that the market was surprised. However there has been no confirmation of this appointment and other wires have suggested no such approach has been made.
Having said that US data might not be the most important events of the week, outside of CPI the US highlights are the Fed’s senior loan officers survey (SLOOS) tomorrow, PPI on Thursday and retail sales, on Friday. There are a lot of Fed speakers so their view of policy post the election will be interesting after Powell navigated this uncertainty well last week. Powell himself speaks again on Thursday. Internationally the key events will be UK employment and the German ZEW tomorrow, Japanese and Eurozone GDP alongside the ECB account of the October meeting on Thursday, and China’s main monthly data dump on Friday. See the full week ahead in the day-by-day calendar at the end as usual.
In terms of US CPI, our economists (see “October CPI preview & webinar registration”), suggest that softer energy prices should lead headline CPI (+0.20% forecast vs. +0.18% previously) to be weaker than core (+0.26% vs. +0.31%) leading to a YoY rate that picks up a tenth in the headline to 2.5% but with core staying steady at 3.3% even if the 6-month rate would dip a tenth to 2.5%. Remember though that in the last several years the second half has been more seasonally favourable to inflation so it’s possible we’re coming towards the end of that help.
For context, and due to the election result, our economists are leaning towards core PCE inflation being upgraded from 2.2% in 2025 to around 2.5% and by around 0.5pp to 2.5% in 2026 as tariffs kick in. For growth the 2025 upgrade is likely to be from 2.2% to 2.5-2.75% but with 2026 downgraded a few tenths to 2% as tariffs offset the fiscal boosts. So the outlook becomes more complicated from here with most uncertainty around how aggressive the tariff regime will be. See Post election: Fiscal fuel trumps trade tensions for Fed for more on this and FOMC recap: Don’t hurry, Fed happy for the Fed implications where our economists believing now that the Fed may not be able to cut below 4%. Back in mid-September Dec 2025 Fed futures contracts were pricing in 2.78% so this is yet another example (around the 8th time) in this cycle where the market has got far, far too optimistic in terms of how much the Fed will be able to cut rates. For completeness, a reminder that our European economists have reacted to the US election result by taking their terminal ECB forecast to 1.5% (from 2%) due to the impact of the likely new trade policy.
Asian equity markets are mostly trading lower this morning after Beijing’s latest stimulus measures largely underwhelmed, and the release of weak inflation data over the weekend. Across the region, the Hang Seng (-1.65%) is the biggest underperformer, after initially sliding almost -3.0%. The Shanghai Composite (+0.25%) has just nudged into positive territory as I type though after a weak morning session. Elsewhere, the KOSPI (-0.87%) is trading noticeably lower, while the Nikkei is fairly flat. S&P 500 (+0.18%) and NASDAQ 100 (+0.25%) futures continue to rise.
Back to China, at the very end of last week the National People’s Congress announced a debt swap program worth about 10 trillion yuan ($1.4 trillion) to improve local government finances. However, the stimulus package disappointed market expectations as it lacked direct fiscal stimulus and targeted measures to improve the housing market. Our China economist reviewed the package and suggests that the government clearly believes the current measures will help them hit their 5% growth target for 2024 without needing to go further at the moment. He also believes they are keeping some powder dry for the imposition of tariffs in 2025 and beyond. So perhaps we’ll see more targeted measures at the NPC next March.
Over the weekend, the Chinese inflation rate rose +0.3% year-over-year in October, missing expectations of a +0.4% increase and lower than the +0.4% gain seen in September. Inflation fell for the second straight month, dropping to its lowest in four months. Meanwhile, the PPI slipped by -2.9% year-over-year in October, marking the 25th consecutive month of decline, after a -2.8% drop in September and worse than the -2.5% decline forecast by Bloomberg.
Looking back at last week, US assets performed incredibly strongly after Trump’s win. Indeed, the S&P 500 was up +4.66% (+0.38% Friday), which is its best weekly performance of 2024 so far. Moreover, the gains mean the index has now surpassed its previous peak, with Friday marking its 50th record high of 2024. The gains were led by the more cyclical sectors, with consumer discretionary stocks posting a +7.62% advance last week, whilst the KBW Banks Index was up +8.42% (+0.31% Friday).
That rally was evident among other asset classes. In credit, US IG spreads tightened by -9bps (-1bps Friday) to 74bps, which is its tightest level since 1998. And HY spreads moved -19bps tighter (-11bps Friday) to 256bps, their tightest since 2007. Even sovereign bonds recovered their losses from earlier in the week, with the 10yr Treasury yield down -8.0bps (-2.3bps Friday), despite a +16.1bps surge on Wednesday after the election result became apparent. The front-end did see a modest sell-off, with the 2yr yield up +4.6bps last week (+5.5bps Friday). 2s10s is back to 5bps having been as steep as 22bps in late September.
Outside the US, there was a more mixed performance, with European assets struggling by comparison. For instance, the STOXX 600 fell -0.84% (-0.65% Friday), posting a third consecutive weekly decline. And there was a big underperformance for the STOXX 600 Automobiles & Parts Index given the prospect of higher tariffs, which fell -3.56% (-1.35% Friday). In the bond space, 10yr bunds were down by -3.9bps (-7.9bps Friday). That said, even as European assets struggled, there was a much better performance in Asia, where the Nikkei rose +3.80% last week (+0.30% Friday), whilst the Shanghai Comp was up +5.51% (-0.53% Friday).
Other notable moves included the euro (-1.07%) falling to its weakest against the dollar since June at 1.0718, while Bitcoin posted new record highs, rising to $76,450 on Friday. It’s traded as high as $81,832 this morning after a further surge over the weekend. In commodities, Brent crude was +1.05% higher over the week to $73.87/bbl, despite a -2.33% retreat on Friday that in part followed an underwhelming fiscal announcement out of China.
2B) European report.
Equites gain & DXY bid with the Trump Trade still at play; Crude slumps amid constructive geopolitical updates – Newsquawk US Market Open
Monday, Nov 11, 2024 – 05:43 AM
Equities are entirely in the green, with a strong European morning thus far; the RTY outperforms.
DXY is on a firmer footing with the Trump Trade still in action, JPY underperforms following the BoJ SOO which highlighted the lack of urgency to hike.
Bonds are mixed, with Bunds firmer amid suggestions that Chancellor Scholz could bring forward a vote of no-confidence; Treasury cash trade is closed on account of US Veterans Day.
Crude slips on comments by Hezbollah that there are negotiations to stop the war; XAU/base metals are hampered by the stronger Dollar and softer-than-expected Chinese inflation metrics overnight.
Looking ahead, No Tier 1 events. As a reminder, today is US Veterans Day.
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EUROPEAN TRADE
EQUITIES
European bourses, Stoxx 600 (+1%) opened on a strong footing and continued to climb higher into the morning; some of the upside has since subsided, with indices now traversing best levels.
European sectors hold a strong positive bias, with only Basic Resources sitting ever-so-slightly in negative territory. The sector is weighed on by slight losses in metals prices, given the continued disappointing inflation metrics out of China. Construction & Materials tops the pile, joined by Insurance and then Chemicals thereafter.
US Equity Futures (ES +0.3%, NQ +0.3% RTY +1.2%) are entirely in the green, with very clear outperformance in the economy-linked RTY, with the “Trump Trade” very much still in action.
DXY has started the week off on the front foot as markets continue to digest the likely impact of a Trump Presidency and a potential Republican sweep. DXY has extended above Friday’s peak at 105.20 but is yet to reclaim the post-election peak at 105.44.
EUR has extended on Friday’s losses with EUR/USD slipping further onto a 1.06 handle. Absent an improvement in the Eurozone outlook, the pair could end up testing its YTD low from 16th April at 1.0601.
GBP is softer vs. the USD but to a lesser extent than most peers with EUR/GBP hitting a fresh YTD low at 0.8282. Cable is tucked within Friday’s 1.2884-1.2989 range.
JPY is the notable laggard across the majors with the ongoing reasssessment of the relative Fed vs. BoJ policy paths continuing to guide the pair. The latest BoJ summary of opinions has been noted as a potential source of weakness for the JPY with the account continuing to highlight a lack of urgency for immediate hikes. USD/JPY has been as high as 153.85.
Antipodeans are both flat vs. the broadly stronger USD with some support garnered from the positive risk tone.
PBoC set USD/CNY mid-point at 7.1786 vs exp. 7.1813 (prev. 7.1433).
SNB Vice Chairman Martin said the central bank has made absolutely no commitment to future interest rate cuts and the next rate decision will depend on the assessment in December. Martin said the Franc is attractive as a safe haven and due to low Swiss inflation, while he added it is expected to appreciate in nominal terms in the future but real appreciation of the currency has been limited.
A firmer start to the week with Bunds taking some reprieve on murmurings that the German no-confidence motion could occur sooner than thought, while such a motion will likely snuff out the traffic light coalition, at least it resolves the uncertainty. Hit a 132.59 peak early doors before stabilising around 20 ticks off this but has since inched back up to a fresh 132.61 high.
USTs are slightly softer, paring some of the gains seen on Thursday/Friday which were largely a rebound from Trump-induced pressure on Wednesday. Note, conditions today are thin with the calendar sparse and Veteran’s Day meaning cash trade is closed. Currently pivoting the 110-00 figure, a move lower has support between 109-30 to 109-07 from last week.
Gilts were initially flat, but have been inching higher in recent trade, in-fitting with peers. Attention this week is on a speech from BoE’s Bailey, remarks which will be judged to see if the hawkish bias from last week. Currently, towards the upper-end of 94.00-94.43 parameters.
Crude was initially firmer on the session but only modestly so. Focus on geopols, with the main update overnight being Qatar announcing that mediation efforts between Israel and Hamas are on hold. Thereafter, commentary via Al Arabiya that Hezbollah says there are negotiations to stop the war sparked marked pressure; Brent’Jan slumped to session lows of USD 72.79/bbl, but is just off worst levels.
Spot gold is pressured, weighed on by the stronger USD and soft performance of China overnight as the region reacted to the lack of major stimulus in Friday’s session.
Base metals are hampered by the stronger Dollar, the lack of China stimulus and disappointing CPI data from the region overnight weighing on metals generally. 3M LME Copper below the USD 9.5k handle.
BSEE estimated that approximately 27.59% of the current daily oil production and 16.67% of the current daily natural gas production in the Gulf of Mexico has been shut-in due to Tropical Storm Rafael. It was later reported that Chevron (CVX) began to redeploy personnel and restore output at its Gulf of Mexico platforms that was shut-in due to Rafael.
Saudi crude oil supply to China set to fall 36.5mln barrels in December, according to Reuters citing sources. Two other North Asian refiners to receive full Saudi crude allocation for December
Norwegian Core Inflation YY (Oct) 2.7% vs. Exp. 2.7% (Prev. 3.1%); MM 0.2% vs. Exp. 0.3% (Prev. 0.3%)
NOTABLE EUROPEAN HEADLINES
UK Chancellor Reeves will set out the government’s plans to stimulate economic growth through the principles of stability, investment and reform, as well as hail the benefits of free trade amid impending US protectionism during her first Mansion House address on Thursday, according to FT.
UK HMRC is set to return GBP 700mln to top UK companies after the UK won an appeal against a Brussels state aid clampdown which had forced London to collect tax against its wishes, according to FT.
German Chancellor Scholz said he wouldn’t have a problem with a vote of confidence before Christmas and that there is a good chance he will win another mandate to form another government, according to CGTN Europe.
ECB’s Holzmann said a rate cut is possible in December as things look at the moment and there is nothing at the moment that would argue against that but that does not mean it will automatically happen, while he added they do not have the latest forecasts and data which they will get in December and will decide on that basis.
Fitch affirmed Spain at A-; Outlook revised to Positive from Stable, while it affirmed Poland at A; Outlook Stable and affirmed Lithuania at A; Outlook Stable. It was also reported that Moody’s upgraded Croatia to A3; Outlook changed to Stable from Positive.
EU sees little chance of a quick China deal to avoid EV tariffs, via Bloomberg
NOTABLE US HEADLINES
Fed’s Kashkari (2026 voter) said if growth and productivity are strong, the Fed may not cut as much, while he reiterated that housing inflation will take a while to come down all the way and they have made progress but want to get the job done on inflation. Kashkari also stated that the Fed wants to have confidence inflation will go all the way back to 2% and need to see more evidence before deciding on another cut.
Edison Research projected Republicans won another seat in the US House bringing their total to 213, while Democrats have 204 seats with 218 needed for control.
GEOPOLITICS
MIDDLE EAST – EUROPEAN MORNING
Hezbollah says there are negotiations to stop the war, according to Al Arabiya.
Israeli Foreign Minister says “We are ready to end the war when our objectives are achieved”; there is progress on Lebanon ceasefire talks, working with the Americans on this. No decision on the issue of annexing areas of the West Bank. The main challenge will be to enforce what is agreed. “The war is not over yet”. Hezbollah’s capabilities are severely reduced, majority of missile capacity is destroyed. Pushes back on the prospect of a Palestinian state, does not believe this is realistic. Israel has responded positively to Gaza ceasefire proposals, Hamas has refused to move forward. Trump has made it clear he understands the danger of Iran’s nuclear ambitions
MIDDLE EAST
Israel called upon Israelis not to attend cultural and sports events abroad in the week ahead, according to a statement from the PM’s office.
Israeli media reported sirens heard in central Israel and the Israeli army reported interception of a missile approaching Israel coming from Yemen, according to Sky News Arabia.
Israel conducted a strike on a residential building near Damascus which resulted in casualties, according to the Syrian state news agency.
US National Security Adviser Sullivan said the US will make a judgement this week about the progress Israel made over the Blinken/Austin letter on humanitarian aid to Gaza. Sullivan also stated that President Biden will go through the top US foreign policy and domestic issues with President-elect Trump on Wednesday and Biden will make the case to Congress that they need ongoing resources for Ukraine beyond the end of his term.
Qatar’s Foreign Ministry said its mediation efforts between Israel and Hamas are currently on hold and reports it is withdrawing from the Gaza ceasefire mediation are not accurate, while it said it will resume mediating in ceasefire talks when there is enough seriousness to end the brutal war.
Iranian Foreign Minister Araqchi said a new scenario was fabricated after the US charged an Iranian man in the plot to kill President-elect Trump, while he said Iran is not after nuclear weapons and confidence building is needed from both sides.
IRGC’s Khatam al-Anbiya Headquarters deputy commander said Iran provides Hezbollah with ammunition and is not afraid of declaring it, while he added that Hezbollah has also publicly announced its affiliation with Iran, according to Iran International English.
IAEA Director General Grossi will travel to Tehran this week for high-level meetings with the Iranian government.
Iran announced the death of 5 security forces in an armed attack on the Pakistani border, according to Al Arabiya.
Iraqi armed factions announce attack on a “vital target” in southern Israel with marches, according to Sky News Arabia.
US-British aggression was reported on Yemen’s capital Sanaa and the Amran governorate, according to Al Masirah TV.
Two personnel from Saudi-led coalition forces were killed in an attack by a Yemeni Defence Ministry employee in Yemen’s Seiyun.
OTHER
Russia’s Kremlin reports that rumors of a Putin/Trump call were false – there was no call.
US President-elect Trump spoke on the phone with Russian President Putin on Thursday and discussed the war in Ukraine, while Trump urged Putin not to escalate the war in Ukraine, according to The Washington Post.
Russian Foreign Ministry said on Saturday that there are no grounds for talking about resuming dialogue with the US on strategic stability and arms, while it added that US President-elect Trump’s promises to resolve the crisis in Ukraine fast are nothing more than rhetoric.
Russia and Ukraine launched their biggest drone attacks on each other since the start of the conflict, with several people injured in the tensions, according to LBC.
Russian President Putin signed the law on ratification of the strategic partnership with North Korea, according to TASS.
Ukrainian top military commander Syrski told a senior US general of reports regarding North Korean troops preparing to take part in combat alongside Russian forces, as well as noted that the front-line situation remains difficult and is showing signs of escalation.
Ukrainian drones hit a chemical producer in Russia’s Tula region overnight.
Chinese President Xi signed an order of regulations to guarantee military equipment, effective from December 1st.
China’s Foreign Ministry said China firmly opposes the Philippines’ Marine Zones Act which severely infringes on China’s territorial sovereignty and maritime rights in the South China Sea, while China’s Coast Guard said the Philippines has frequently sent military police, civilian vessels and aircraft to intrude into the air and sea space near Huangyan Island, which is also known as Scarborough Shoal.
Philippines aims to buy a US missile launcher in a move likely to anger China, according to FT.
CRYPTO
Bitcoin soared past USD 80k over the weekend, and continued to climb higher today; currently sitting above USD 81k.
APAC TRADE
APAC stocks began the week mostly subdued amid China-related headwinds following the recent fiscal stimulus disappointment and softer-than-expected Chinese inflation data from over the weekend.
ASX 200 was dragged lower by weakness in the commodity and consumer-related sectors.
Nikkei 225 traded indecisively but with the initial downside cushioned alongside currency weakness.
Hang Seng and Shanghai Comp were pressured with underperformance in Hong Kong amid losses in property and tech although some chipmakers were boosted after the US ordered TSMC to halt shipments to China of chips used in AI applications. Elsewhere, the mainland traded cautiously after last Friday’s announcement of fiscal measures disappointed those hoping for a more forceful stimulus in the aftermath of the Trump election victory, while Chinese CPI and PPI data were softer-than-expected and showed a worsening of the factory-gate deflation.
NOTABLE ASIA-PAC HEADLINES
Foxconn (2317 TT) Jan-Sept net profit TWD 2.68bln.
PBoC will step up counter cyclical adjustment: reiterates accommodative monetary policy stance, will actively prevent and resolve financial risk, will improve tools to deal with abnormal stock market news. Will broaden FDI channels. Increase loans for “while list” housing projects.
China’s Finance Ministry frontloads part of 2025’s central Govt. fiscal funds for affordable housing, renovation of villages, towns and residential quarters
Ishiba will continue to be the Japanese PM, after receiving 221/465 lower house votes
China International Import Expo saw a 2% Y/Y increase in intended transaction value to USD 80bln.
China and Peru will sign a deal to strengthen a Free Trade Agreement with the improved FTA to increase commerce by at least 50%, while President Xi is to travel to Peru with 400 business people interested in investing in infrastructure and technology.
TSMC (2330 TT) was ordered by the US to stop shipments to China of advanced chips used for AI applications.
BoJ Summary of Opinions from the October meeting noted a member said no change to the BoJ’s stance it will adjust the degree of monetary support if its economic and price forecasts are met and a member said they must remain vigilant regarding the overseas economic outlook and market movements. There was also the opinion that risk of a US hard landing is subsiding but it cannot yet be said with certainty that markets are stabilising, while it was noted that the BoJ must communicate clearly that it will continue to raise the policy rate if its economic and price forecasts are met. Furthermore, a member said the BoJ must take time and move cautiously in raising rates and a member also stated that Japan is not in a phase where it needs massive monetary support, so the BoJ can consider additional rate hikes after pausing temporarily to gauge US economic developments.
DATA RECAP
Chinese CPI MM (Oct) -0.3% vs. Exp. -0.1% (Prev. 0.0%); YY 0.3% vs. Exp. 0.4% (Prev. 0.4%)
Chinese PPI YY (Oct) -2.9% vs. Exp. -2.5% (Prev. -2.8%)
China Oct M2 money supply +7.5% Y/Y (exp. 6.9%)
New Zealand Inflation Forecast 1 Yr (Q4) Q1 2.05% (Prev. 2.4%); 2 yrs Q1 2.12% (Prev. 2.03%)
2C ASIAN REPORT\
APAC subdued following soft Chinese inflation – Newsquawk Europe Market Open
Monday, Nov 11, 2024 – 01:44 AM
APAC stocks began the week mostly subdued following the recent China fiscal stimulus disappointment and softer-than-expected Chinese inflation data.
European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 1.0% on Friday.
German Chancellor Scholz said he wouldn’t have a problem with a vote of confidence before Christmas.
DXY is steady and just above the 105 mark, EUR/USD is little changed on a 1.07 handle, JPY lags its major peers.
Looking ahead, today sees a lack of tier 1 highlights. Note, today is Veterans Day in the US.
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US TRADE
EQUITIES
US stocks were bid on Friday in which the SPX briefly rose above 6k before paring into the closing bell with advances led by Utilities, Real Estate and Consumer Staples although the Nasdaq was the relative underperformer as Tech and Communication lagged. Price action in markets was primarily categorised by post-election trade as participants continued to react to the Trump win and the dollar resumed to the upside after weakness the day before although T-notes continued to flatten after the steepening seen on Trump’s victory.
SPX +0.38% at 5,996, NDX +0.07% at 21,117,DJIA +0.59% at 43,989, RUT +0.71% at 2,400.
Fed’s Kashkari (2026 voter) said if growth and productivity are strong, the Fed may not cut as much, while he reiterated that housing inflation will take a while to come down all the way and they have made progress but want to get the job done on inflation. Kashkari also stated that the Fed wants to have confidence inflation will go all the way back to 2% and need to see more evidence before deciding on another cut.
Edison Research projected Republicans won another seat in the US House bringing their total to 213, while Democrats have 204 seats with 218 needed for control.
APAC TRADE
EQUITIES
APAC stocks began the week mostly subdued amid China-related headwinds following the recent fiscal stimulus disappointment and softer-than-expected Chinese inflation data from over the weekend.
ASX 200 was dragged lower by weakness in the commodity and consumer-related sectors.
Nikkei 225 traded indecisively but with the initial downside cushioned alongside currency weakness.
Hang Seng and Shanghai Comp were pressured with underperformance in Hong Kong amid losses in property and tech although some chipmakers were boosted after the US ordered TSMC to halt shipments to China of chips used in AI applications. Elsewhere, the mainland traded cautiously after last Friday’s announcement of fiscal measures disappointed those hoping for a more forceful stimulus in the aftermath of the Trump election victory, while Chinese CPI and PPI data were softer-than-expected and showed a worsening of the factory-gate deflation.
US equity futures (ES +0.2%) remained afloat in quiet trade after recently printing fresh record highs.
European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 1.0% on Friday.
FX
DXY kept to within a tight range amid a lack of major US-specific drivers and with attention this week on the latest US CPI report, while there were recent comments from Fed’s Kashkari that if growth and productivity are strong, the Fed may not cut as much and noted that they have made progress but want to get the job done on inflation.
EUR/USD was little changed at the 1.0700 handle as recent ECB commentary did little to shift the dial in which Holzmann suggested there was currently no reason not to cut rates in December but added that it does not mean it will automatically happen.
GBP/USD traded uneventfully amid a lack of catalysts and after its recent return from a brief dip beneath 1.2900.
USD/JPY edged higher and returned to the 153.00 territory after the BoJ Summary of Opinions continued to highlight a lack of urgency for immediate hikes but noted it will continue to raise the policy rate if its economic and price forecasts are met.
Antipodeans conformed to the predominantly quiet picture across the FX space with the upside hampered by subdued commodity prices and the risk-averse tone.
PBoC set USD/CNY mid-point at 7.1786 vs exp. 7.1813 (prev. 7.1433).
SNB Vice Chairman Martin said the central bank has made absolutely no commitment to future interest rate cuts and the next rate decision will depend on the assessment in December. Martin said the Franc is attractive as a safe haven and due to low Swiss inflation, while he added it is expected to appreciate in nominal terms in the future but real appreciation of the currency has been limited.
FIXED INCOME
10yr UST futures trickled lower after last Friday’s flattening and with the US bond market closed for Veterans Day.
Bund futures marginally eased from Friday’s peak with prices lingering around the 132.00 level.
10yr JGB futures traded uneventfully after the BoJ Summary of Opinions continued to suggest a lack of urgency for an immediate rate increase although it was also noted that there was no change to the BoJ’s stance it will adjust the degree of monetary support if its economic and price forecasts are met.
COMMODITIES
Crude futures were lacklustre with WTI crude futures testing the USD 70/bbl level to the downside following a lack of major geopolitical escalation over the weekend and with headwinds from soft China inflation data and stimulus disappointment.
BSEE estimated that approximately 27.59% of the current daily oil production and 16.67% of the current daily natural gas production in the Gulf of Mexico has been shut-in due to Tropical Storm Rafael. It was later reported that Chevron (CVX) began to redeploy personnel and restore output at its Gulf of Mexico platforms that was shut-in due to Rafael.
Spot gold gradually weakened in rangebound trade amid light pertinent catalysts and an uneventful dollar.
Copper futures were restricted amid the downbeat mood in Asia and selling pressure in Chinese commodities.
CRYPTO
Bitcoin extended on its record highs and topped the 81,000 level for the first time.
NOTABLE ASIA-PAC HEADLINES
China International Import Expo saw a 2% Y/Y increase in intended transaction value to USD 80bln.
China and Peru will sign a deal to strengthen a Free Trade Agreement with the improved FTA to increase commerce by at least 50%, while President Xi is to travel to Peru with 400 business people interested in investing in infrastructure and technology.
TSMC (2330 TT) was ordered by the US to stop shipments to China of advanced chips used for AI applications.
BoJ Summary of Opinions from the October meeting noted a member said no change to the BoJ’s stance it will adjust the degree of monetary support if its economic and price forecasts are met and a member said they must remain vigilant regarding the overseas economic outlook and market movements. There was also the opinion that risk of a US hard landing is subsiding but it cannot yet be said with certainty that markets are stabilising, while it was noted that the BoJ must communicate clearly that it will continue to raise the policy rate if its economic and price forecasts are met. Furthermore, a member said the BoJ must take time and move cautiously in raising rates and a member also stated that Japan is not in a phase where it needs massive monetary support, so the BoJ can consider additional rate hikes after pausing temporarily to gauge US economic developments.
DATA RECAP
Chinese CPI MM (Oct) -0.3% vs. Exp. -0.1% (Prev. 0.0%)
Chinese CPI YY (Oct) 0.3% vs. Exp. 0.4% (Prev. 0.4%)
Chinese PPI YY (Oct) -2.9% vs. Exp. -2.5% (Prev. -2.8%)
New Zealand Inflation Forecast 1 Yr (Q4) Q1 2.05% (Prev. 2.4%)
Israel called upon Israelis not to attend cultural and sports events abroad in the week ahead, according to a statement from the PM’s office.
Israeli media reported sirens heard in central Israel and the Israeli army reported interception of a missile approaching Israel coming from Yemen, according to Sky News Arabia.
Israel conducted a strike on a residential building near Damascus which resulted in casualties, according to the Syrian state news agency.
US National Security Adviser Sullivan said the US will make a judgement this week about the progress Israel made over the Blinken/Austin letter on humanitarian aid to Gaza. Sullivan also stated that President Biden will go through the top US foreign policy and domestic issues with President-elect Trump on Wednesday and Biden will make the case to Congress that they need ongoing resources for Ukraine beyond the end of his term.
Qatar’s Foreign Ministry said its mediation efforts between Israel and Hamas are currently on hold and reports it is withdrawing from the Gaza ceasefire mediation are not accurate, while it said it will resume mediating in ceasefire talks when there is enough seriousness to end the brutal war.
Iranian Foreign Minister Araqchi said a new scenario was fabricated after the US charged an Iranian man in the plot to kill President-elect Trump, while he said Iran is not after nuclear weapons and confidence building is needed from both sides.
IRGC’s Khatam al-Anbiya Headquarters deputy commander said Iran provides Hezbollah with ammunition and is not afraid of declaring it, while he added that Hezbollah has also publicly announced its affiliation with Iran, according to Iran International English.
IAEA Director General Grossi will travel to Tehran this week for high-level meetings with the Iranian government.
Iran announced the death of 5 security forces in an armed attack on the Pakistani border, according to Al Arabiya.
Iraqi armed factions announce attack on a “vital target” in southern Israel with marches, according to Sky News Arabia.
US-British aggression was reported on Yemen’s capital Sanaa and the Amran governorate, according to Al Masirah TV.
Two personnel from Saudi-led coalition forces were killed in an attack by a Yemeni Defence Ministry employee in Yemen’s Seiyun.
OTHER
US President-elect Trump spoke on the phone with Russian President Putin on Thursday and discussed the war in Ukraine, while Trump urged Putin not to escalate the war in Ukraine, according to The Washington Post.
Russian Foreign Ministry said on Saturday that there are no grounds for talking about resuming dialogue with the US on strategic stability and arms, while it added that US President-elect Trump’s promises to resolve the crisis in Ukraine fast are nothing more than rhetoric.
Russia and Ukraine launched their biggest drone attacks on each other since the start of the conflict, with several people injured in the tensions, according to LBC.
Russian President Putin signed the law on ratification of the strategic partnership with North Korea, according to TASS.
Ukrainian top military commander Syrski told a senior US general of reports regarding North Korean troops preparing to take part in combat alongside Russian forces, as well as noted that the front-line situation remains difficult and is showing signs of escalation.
Ukrainian drones hit a chemical producer in Russia’s Tula region overnight.
Chinese President Xi signed an order of regulations to guarantee military equipment, effective from December 1st.
China’s Foreign Ministry said China firmly opposes the Philippines’ Marine Zones Act which severely infringes on China’s territorial sovereignty and maritime rights in the South China Sea, while China’s Coast Guard said the Philippines has frequently sent military police, civilian vessels and aircraft to intrude into the air and sea space near Huangyan Island, which is also known as Scarborough Shoal.
Philippines aims to buy a US missile launcher in a move likely to anger China, according to FT.
EU/UK
NOTABLE HEADLINES
UK Chancellor Reeves will set out the government’s plans to stimulate economic growth through the principles of stability, investment and reform, as well as hail the benefits of free trade amid impending US protectionism during her first Mansion House address on Thursday, according to FT.
UK HMRC is set to return GBP 700mln to top UK companies after the UK won an appeal against a Brussels state aid clampdown which had forced London to collect tax against its wishes, according to FT.
German Chancellor Scholz said he wouldn’t have a problem with a vote of confidence before Christmas and that there is a good chance he will win another mandate to form another government, according to CGTN Europe.
ECB’s Holzmann said a rate cut is possible in December as things look at the moment and there is nothing at the moment that would argue against that but that does not mean it will automatically happen, while he added they do not have the latest forecasts and data which they will get in December and will decide on that basis.
Fitch affirmed Spain at A-; Outlook revised to Positive from Stable, while it affirmed Poland at A; Outlook Stable and affirmed Lithuania at A; Outlook Stable. It was also reported that Moody’s upgraded Croatia to A3; Outlook changed to Stable from Positive.
3B NORTH KOREA/SOUTH KOREA
NORTH KOREA/RUSSIA/UKRAINE
END
3C JAPAN
3D. CHINA
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
end
5 RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL//QATAR/HAMAS
Qatar pulls out of mediation after kicking out Hamas officials in Doha
(JerusalemPost)
Qatar pulls out of mediating role between Israel and Hamas negotiations
This comes after the US pressured Qatar to expel Hamas leadership in Doha.
By JERUSALEM POST STAFF, REUTERSNOVEMBER 9, 2024 16:41Updated: NOVEMBER 9, 2024 17:25
US SECRETARY of State Antony Blinken shakes hands with Qatari Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al Thani, in Doha.(photo credit: Nathan Howard/Reuters)
Qatar will stop trying to mediate a Gaza ceasefire deal until Hamas and Israel show a “sincere willingness” to return to the negotiating table, an official briefed on the matter told Reuters on Saturday.
The Gulf country has also concluded that Hamas’ political office in Doha “no longer serves its purpose,” the official added.
Qatar, alongside the United States and Egypt, has played a major role in rounds of so-far fruitless talks to broker a ceasefire to the year-long war in Gaza. The latest round of talks in mid-October failed to produce a deal, with Hamas rejecting a short-term ceasefire proposal.
“The Qataris have said since the start of the conflict that they can only mediate when both parties demonstrate a genuine interest in finding a resolution,” the official said, adding that Qatar had notified Hamas, Israel, and the US administration of its decision.
US SECRETARY of State Antony Blinken is greeted by Qatari Minister of State Dr. Mohammed bin Abdulaziz al-Khulaifi, in Doha, this week. The time has come to reach a hostage deal under the terms laid out in the current negotiations, says the writer. (credit: KEVIN MOHATT/REUTERS)
Hamas unwilling to negotiate without an end to Gaza war
This comes after the US told Qatar that a Hamas presence in Doha was unacceptable. A senior US official confirmed international reports of this to Reuters on Friday.
“After rejecting repeated proposals to release hostages, its [Hamas’s] leaders should no longer be welcome in the capitals of any American partner. We made that clear to Qatar following Hamas’s rejection weeks ago of another hostage release proposal,” the official said, speaking on the condition of anonymity.
Qatar made its demand to Hamas leaders about 10 days ago, according to the official.
Hamas declined the most recent iteration of a ceasefire deal earlier this month, a short-term ceasefire proposal that was meant to have been a trust-building measure to allow mediating parties to build a channel of indirect communication between Israel and a new Hamas leadership.
According to earlier reporting by The Jerusalem Post, the terrorist group is unwilling to accept any iteration of a hostage deal until the war is fully ended in Gaza.
END
ISRAEL/HEZBOLLAH/GAZA
Saturday
overnight strikes on Hezbollah in Beirut
(JerusalemPost)
Israeli air force conducts overnight strikes on Hezbollah targets in Beirut
The IDF also noted that it had eliminated dozens of terrorists in Gaza and Lebanon
With the information provided by IDF intelligence, the IAF struck several command centers and weapons manufacturing sites in Dahieh, a Hezbollah stronghold in Lebanon‘s capital Beirut, overnight, the military announced on Saturday morning.
The IDF noted that the Hezbollah centers and manufacturing facilities were embedded in a civilian area in the capital, endangering the lives of civilians. To mitigate the risk to Lebanese civilians, the IDF said it issued advanced warnings before the IAF began striking the facilities.
Saudi news site Al-Hadath reported that the military raided 14 targets in the suburbs Burj al-Barajneh, Haret Hreik, and al-Hadath last night.
Other military updates
The IDF struck over 50 terror targets in the Gaza Strip and Lebanon since Friday morning, the military announced in an early Saturday morning operational update.
These terror targets struck reportedly included military structures, weapons storage facilities, and launchers.
Dozens of terrorists were eliminated in Gaza’s Jabalya, and soldiers operating there located and dismantled a weapons storage facility, the IDF added.
Further terrorist and infrastructure targets in Rafah were also reportedly destroyed.
end
ISRAEL/AMSTERDAM
Druze Maccabi Tel Aviv fan says he yelled in Arabic to distract Amsterdam assailants
Today, 5:14 pm
Screenshot from a video shows violence on the streets of Amsterdam in which Israelis were attacked by pro-Palestinian, anti-Israel gangs on November 8, 2024. (X screenshot; used in accordance with Clause 27a of the Copyright Law)
Melhem Asad, a resident of the northern Druze town of Kisra-Sumei who is fan of the Maccabi Tel Aviv soccer team, recalls to Channel 12 news how he yelled in Arabic at a group of assailants in Amsterdam to prevent them from attacking Jewish fans of the team.
According to Asad, Maccabi fans were escorted by police to the match against Ajax due to anti-Israel, pro-Palestinian demonstrations but after the game “the local police just screwed up.”
“They didn’t guard us, we felt really exposed,” he says.
Asad says that he had nearly made it safely back to his hotel after the brutal attacks started when he encountered a group of Arabic-speaking suspects planning to assault Maccabi fans.
“I told them that no Jews are still here, that they escaped. I did everything to confuse them… I directed them the other way and then ran toward groups of Israelis and warned them that there are immigrants who are looking to hurt them,” he tells the network, explaining he told his fellow Maccabi supporters to take off their blue and yellow jerseys so they couldn’t be identified.
Asad says the violence reminded him of Hamas’s October 7 onslaught last year.
“I feel that God sent me at the right time and to the place to save whoever was possible,” he adds.
Hezbollah targets Israel’s Trump Heights in the Golan Heights the day after the election
(JerusalemPost)
Hezbollah Targeted Israel’s Trump Heights The Day After Election
Friday, Nov 08, 2024 – 06:00 PM
This week Hezbollah rockets targeted Israel’s Trump Heights settlement, a remote community in the central Golan Heights – which was taken from Syria after the Six Day War of 1967.
Iranian state media as well as a report in Lebanon’s Al-Mayadeen indicated that Hezbollah specifically targeted Trump Height the day after he won the Tuesday US presidential election.
“Sirens sounded in Trump Heights as Hezbollah rocket attack targeted the Golan Heights on Wednesday,” an Israeli regional sources also said. “The attack came shortly after the election results were announced, indicating that Trump was the victor.”
The tiny Jewish settlement was named after Trump in 2019, during his first term, in acknowledgement of his declaring that the US recognizes Israel’s sovereignty over the Golan Heights.
It was an ultra-controversial move at the time, given most of the rest of the world considers it “Israeli-occupied territory” belonging to Syria.
At the time of the attack sirens blared not just in Trump Heights, but across other locations of northern and central Israel.
But the “Trump Heights” designation has always been more about a PR move for the existing community to improve and expand, as the Associated Pressexplains:
But a large-scale influx of new residents never materialized after that 2019 ceremony, and just a couple dozen families live in Trump Heights, or “Ramat Trump” in Hebrew. Job opportunities are limited, and Israel’s more than yearlong war against Hezbollah militants in nearby Lebanon has added to the sense of isolation.
Trump’s election has inspired hope in the community that it will attract more members and also more funding for security improvements.
One resident observed that “President Trump’s return to the White House definitely puts the town in the headlines.”
It had also made big headlines when Israeli Prime Minister Benjamin Netanyahu went there for an unveiling ceremony in 2019. During that June 2019 ceremony, BBC noted that “Building work has yet to begin but a sign bearing Mr Trump’s name and US and Israeli flags was unveiled. However, it also noted that “Critics called the move a publicity stunt with no legal authority.”
ISRAEL HAMAS/HEZBOLLAH THURSDAY MORNING
END
ISRAEL /HEZBOLLAH/MONDAY
Over 90 rockets target Haifa area; 4 hurt, one moderately; homes, cars damaged
Iran now worried about Trump sanctions that will be enforced
(JerusalemPost)
Iran attempts to insulate itself from possible Trump sanctions – analysis
With Trump returning to office, Iran is likely concerned it could be under “maximum pressure” again with the using sanctions and other methods to cut off Tehran’s economy.
By SETH J. FRANTZMANNOVEMBER 10, 2024 14:35Updated: NOVEMBER 10, 2024 15:35
Presidential candidate Mohammad Bagher Ghalibaf speaks during a campaign event in Tehran(photo credit: MAJID ASGARIPOUR/WANA (WEST ASIA NEWS AGENCY) VIA REUTERS)
The comments were made in reaction to the election of Donald Trump in the US elections on November 5. With Trump returning to office, Iran is likely concerned it could be under “maximum pressure” again with the using sanctions and other methods to cut off Tehran’s economy.
“In his remarks, Qalibaf said the best way to be deterrent against any pressures and threats is to solve domestic problems, particularly economic issues,” Iranian state media IRNA reported. “The speaker of the Iranian Parliament (Majlis) has highlighted the country’s national capabilities to serve its interests, stressing that elections in other states do not affect the potential.”
Qalibaf, who was in Lebanon in mid-October, where he showcased his skills as a pilot to land a plane at Beirut International Airport. He wanted to “defy” Israel’s threats amid the bombing of Hezbollah targets in the city. As such, Qalibaf is unafraid to put himself where his words are.
Incoming US administration
He spoke in general terms in his comments about the incoming US administration. “The way Iran acts powerfully and vigilantly based on the Islamic Revolution’s approach determines the enemy’s behavior towards the country, the speaker noted,” according to IRNA.
Iranian Parliament Speaker Mohammad Baqer Qalibaf and Lebanese Parliament Speaker Nabih Berri attend a press conference, in Beirut, Lebanon, October 12, 2024. (credit: REUTERS/AMR ABDALLAH DALSH)
He said Iran should continue its policies to make itself independent and not dependent on foreign countries. Iran has developed a local missile program and other local industries to be independent of trade. Iran has also sought out long-term deals with China and is providing Russia with drones to attack Ukraine.
Iran is also participating in BRICS and other economic forums that will help it avoid western sanctions. “Emerging powers like Iran, which no one can dominate, rely on their inside strength and will play a more effective role in the world’s future order, he underlined,” the report noted.
Iran will, therefore, focus on domestic policy and its economy in the coming months as it prepares for the incoming US administration. Iran has been running wild in the region, fueling attacks on Israel on multiple fronts. It has fueled war in Lebanon and Gaza, attacked US troops in Gaza, mobilized militias in Iraq and Syria, and also has been seeking out reconciliation with Saudi Arabia and closer ties with Egypt. Iran has been on a roll. The question is whether its luck will continue.
END
IRAN/opinion..
Iran’s invisible empire: Khamenei’s global network, jihad, and the hope for Iranian democracy
How can Khamenei’s “shadow empire” deteriorate?
By ALEX WINSTONNOVEMBER 10, 2024 15:48Updated: NOVEMBER 10, 2024 15:50
Iranian Supreme Leader Ali Khameini seen over an AI image of the Iranian octopus (illustrative)(photo credit: GROK/X/ Office of the Iranian Supreme Leader/WANA (West Asia News Agency) via REUTERS)
In the complex web of contemporary geopolitics, Iran under Ayatollah Ali Khamenei has emerged as a shadow empire, its reach extending far beyond national borders. Through a blend of ideological ambition and a vast network of proxies, Iran’s influence is felt in places as varied as Beirut, Gaza, and the corridors of power in Western capitals.
For Afshin Ellian, a Dutch-Iranian philosopher and law professor, this expansion of Iranian power is not just about territorial influence; it is an ideological crusade that erases Iran’s national boundaries in favor of a broader, religiously driven agenda. Ellian spoke to The Jerusalem Post on the possible risks and a narrow window of opportunity for Iran’s democratic future.
For Ellian, Khamenei’s ideological vision is not mere rhetoric but a deep-seated conviction that transcends the borders of Iran itself. He explained, “Ali Khamenei’s belief in the umma—the global Islamic community—isn’t just rhetoric. It’s a deep-seated conviction that erases Iran’s national boundaries, subordinating its people to an ideological mission.” This view, Ellian argues, reflects Khamenei’s larger ambition: to build an empire in which the Iranian people are but pawns in a much grander geopolitical game.
“Khamenei’s vision stretches from Tehran to Gaza and Damascus, bringing theocratic ideology and militancy to the doorstep of the West. “In Khamenei’s mind, his umma justifies any sacrifice,” Ellian explained. “That’s why he has no hesitation when it comes to supporting proxies in Lebanon, Syria, or Iraq—even when Iranians are suffering in the streets.”
Ellian, who has lived in exile since 1989 and has a fatwa out on him by the Iranian regime, has made it his life’s work to expose the complexities of Iran’s ruling elite and offer insight into the struggles of the Iranian people. Speaking from a place of both exile and hope, Ellian argues that Iran’s deep-rooted issues stem from an ideological empire built on boundless ambition and proxies, devoid of national identity. Still, that true change lies in the potential for a democratic, secular Iran.
IRAN’S SUPREME LEADER Ayatollah Ali Khamenei speaks during a meeting in Tehran on Sunday. When former supreme leader Khomeini said, ‘We shall export our revolution to the whole world until the cry ‘There is no god but Allah’ resounds over the whole world,’ he meant it, the writer affirms. (credit: WEST ASIA NEWS AGENCY/REUTERS)
“In the Middle East, there is a line stretching from Tehran to Baghdad, to Damascus, to Beirut, and Tel Aviv,” Ellian reflected. “Khamenei’s Iran doesn’t think in terms of nation; instead, his ummah extends beyond Iran, encompassing Iraqis, Syrians, people in Gaza, Lebanon, and even students in the West. Khamenei has no borders.”
In his critique of Khamenei’s imperial ambitions, Ellian draws a stark historical parallel. ‘Just as Hitler needed the Jews as an ‘absolute enemy,’ Khamenei’s ummah cannot exist without an adversary,’ he states, likening Khamenei’s tactics to those of past totalitarian regimes. This concept of an ‘absolute enemy’ is essential to sustaining the ideological empire, feeding a phantom empire fueled by constructing a fictitious enemy.
Khamenei’s actions only reinforce Ellian’s argument. Following the October 7 Hamas attacks on Israel, Khamenei’s praise for the terrorists was unequivocal – “I will kiss the hands of those who planned the attacks,” Khamenei declared, a statement that Ellian interprets as a dangerous affirmation of global jihad. “The idea that a leader would kiss the hands of terrorists rather than prioritizing his own citizens’ welfare speaks volumes about Khamenei’s loyalty,” Ellian remarked. ‘This is a betrayal of the Iranian people.”
Ordinary Iranians have often been wary of taking to the streets due to the regime’s oppressive nature. However, sporadic outbursts of civil unrest do occur, notably the 2009 Iranian Green Movement, a political movement that arose after the June 12, 2009, Iranian presidential election and lasted until early 2010 and the 2016 Cyrus the Great Revolt, a pro-monarchy Iranian protest that took place at the Tomb of Cyrus the Great on Cyrus the Great Day, that led to protests calling for regime change.
“Iranians are tired of funding Khamenei’s proxies—Hezbollah, Hamas, and other groups that siphon resources from Iranian schools and hospitals. Our people want an Iranian-focused agenda, with no interference in other countries.”Afshin Ellian, Dutch-Iranian philosopher and law professor
Perhaps the most famous resistance to hit the Islamic Republic since the fall of the Shah occurred two years ago. Protests also erupted in Iran in September 2022 following the death of Mahsa Amini, a 22-year-old Kurdish Iranian woman who died in police custody after being arrested by the Guidance Patrol for allegedly violating the country’s strict hijab law.
The protests, initially sparked by Amini’s death, soon became a broader movement against the government’s oppressive policies, particularly its control over women’s rights and freedoms. In response, the Iranian government implemented harsh measures, including internet blackouts, social media restrictions, and the use of tear gas and live ammunition to suppress demonstrators. By the spring of 2023, the protests had largely subsided, but the ruling regime remained firmly in control.
In the search for an umma-driven empire, Khamenei’s leadership has leaned heavily on two entities: the Iranian Revolutionary Guard Corps (IRGC) and a sophisticated intelligence apparatus. “The IRGC has perfected the art of subversion, intelligence, and coercion,” says Ellian, adding that Khamenei has had his intelligence officers study Soviet KGB manuals, instilling within them techniques of ideological control and repression. “They are trained not only to police Iran but to infiltrate communities abroad, spreading their message, suppressing dissidents, and protecting regime interests wherever they are.”
The IRGC’s influence extends into the darkest recesses of global crime, notably in drug trafficking. It is known to operate heroin and methamphetamine trade routes in collaboration with international cartels, funding its paramilitary activities and terrorist proxies.
“The IRGC has become one of the largest drug trafficking networks in the world,” stated Ellian. “Profits from drugs like heroin, grown in Afghanistan, fuel Hezbollah in Lebanon, Hamas in Gaza, and even terrorist factions beyond the Middle East.” Through these activities, Khamenei’s empire self-funds, perpetuating a system where Iranian lives and well-being are sacrificed on the altar of Khamenei’s regional ambitions.
Protesters in Iran remove their head coverings in defiance of the Islamic Republic’s laws as protests continue to grow despite regime crackdown, November 2022. (credit: 1500tasvir)
Meanwhile, Iran’s young population grows increasingly frustrated. Afshin Ellian paints a vivid picture of widespread disillusionment in Iran, where citizens view Khamenei’s ideological obsessions as a betrayal of the nation itself. “This dissatisfaction has found a voice in organizations like the ‘701 Group,’ named after the Persian month of Mehr, or Cyrus Day,” says Ellian. “These dissidents are calling for a secular and democratic Iran that cares for its own, not for a religious empire.”
“Iranians are tired of funding Khamenei’s proxies—Hezbollah, Hamas, and other groups that siphon resources from Iranian schools and hospitals,” Ellian told the Post. “Our people want an Iranian-focused agenda, with no interference in other countries.”
The Iranian people’s rejection of foreign interventions is palpable, says Ellian. “Iranians see Khamenei’s alliances as a betrayal. When Hamas attacked Israel, many Iranians reacted with fury, asking, ‘Why should we suffer for Gaza or Lebanon? My life is for Iran, not for Khamenei’s dreams of a transnational ummah.’”
With Khamenei’s health in decline and the issue of succession hanging in the balance, Ellian sees an opportunity for change. “Several contenders exist, but none of them bring hope to the people,” he told the Post. Figures like Khamenei’s son Mojtaba hold onto the same imperial vision, ensuring that the regime’s transnational ambitions continue even after Khamenei’s eventual departure. However, the uncertainty surrounding Khamenei’s health could open a window for reform, if the West chooses to act decisively in support of Iranian dissidents.
“The regime’s obsession with protecting and extending the umma won’t die with Khamenei,” Ellian added, however. “Though his absence could spark enough uncertainty to create space for change.”
Ellian believes this could be an opportunity for the West to support Iranian dissidents in unprecedented ways. By supporting technological tools that bypass censorship, allowing protesters to mobilize without fear of surveillance, the Iranian opposition could gain crucial momentum. “The Iranian people need a network of support to overcome the IRGC’s overwhelming power,” he says. “They are capable of incredible bravery, but bravery alone isn’t enough against a regime as entrenched as this.”
What’s at stake for Khamenei?
Ellian believes the stakes of Khamenei’s demise or succession are incredibly high. “The regime is not an invincible fortress,” he says, “but it demands Western powers to understand that the real Iranian threat is not just nuclear. It’s an ideological crusade, one that reaches from Tehran to Lebanon to Europe.” Ellian warned that Iran’s reach extends to international universities, mosques, and community centers in the West. “Iranian intelligence has nurtured sleeper cells, organized crime connections, and student groups loyal to Khamenei’s line. Western leaders need to be aware that Khamenei’s invisible empire is already within their borders.”
For those in exile like Ellian, a secular Iran represents hope and a return to an ancient cultural heritage that values justice, cooperation, and peace. “Iranians yearn for a future that celebrates Persian identity rather than Islamist ideology,” he states. And symbols of that cultural pride, like Crown Prince Reza Pahlavi, have drawn significant grassroots support within the country, even among those who favor a republic over a monarchy. “Prince Pahlavi is less about political power and more a unifying symbol—someone who embodies what the Iranian people truly want.”
Reza Pahlavi stands out as a symbol of unity for this new vision of Iran. Although many dissidents prefer a republic, Ellian notes that Pahlavi transcends politics. “He’s not seen as a power-hungry figure but as a unifying force, an emblem of Iranian resilience. His 2021 visit to Jerusalem was symbolic, as many Iranians supported his outreach to Israel—a signal of friendship, not hostility, and a fresh vision for the future.
IRAN’S SUPREME Leader, Ayatollah Ali Khamenei has made billions of dollars through control of the Iranian economy, Sazegara claimed. Here, Khamenei speaks during a meeting at the IRGC Aerospace Force achievements exhibition in Tehran in 2023. (credit: Office of the Iranian Supreme Leader/WANA (West Asia News Agency) via REUTERS)
Ellian believes this vision could become a reality with Western support. He urges world leaders to aid Iranians by cutting through Tehran’s sophisticated surveillance networks, allowing protests to grow. “Iranians are brave but lack support. Their movement would gain strength if they could communicate freely during protests without fear of immediate arrest. Civil courage is born from knowing that you’re not alone.”
Ellian also warned of the global reach of Iran’s ideological war, which extends to organized crime networks and student groups in the West. “Iran’s proxies don’t just reside in the Middle East—they infiltrate Europe and North America, targeting dissidents and Jewish communities alike. Iranian-backed student organizations and cartel connections present a significant security threat.”
Despite these obstacles, Ellian’s faith in the Iranian people remains steadfast. “Iran is like fire beneath ash,” he said. “The people are angry and resilient. With the right support, we can create a secular, peaceful, and democratic Iran that fosters cooperation rather than conflict. Iran’s future should be about cooperation, friendship, and democracy,” he concluded. “When that day comes, it will not only be a victory for the Iranian people but a triumph for the world.”
ISRAEL/USA
Biden, the idiot!!
Report claims Washington holding up shipment of armored bulldozers to Israel
Today, 4:01 pm
An Israeli military bulldozer drives down a road during a raid in the northern West Bank city of Tulkarm on August 28, 2024.(Jaafar ASHTIYEH / AFP)
The US is holding up a shipment of armored bulldozers purchased by Israel for its military, the Ynet news site reports.
According to the report, Israel paid for the 134 Caterpillar D9 bulldozers months ago but is still awaiting an export permit from the US State Department.
Ynet attributes the delay to protests in the US over the use of such bulldozers to destroy homes in the Gaza Strip, which the IDF says are used by Hamas.
There is no immediate comment from US officials on the report.
END
ISRAEL/HEZBOLLAH SUNDAY
IDF: Commander of Hezbollah artillery forces in Blida, south Lebanon, killed in strike
The commander of Hezbollah’s artillery forces in southern Lebanon’s Blida was killed in a recent airstrike, the IDF says.
The Hezbollah operative had been spotted by troops of the 869th Combat Intelligence Collection Unit while launching an anti-tank missile at Israel.
The IDF says that a short while later, an airstrike was carried out against one of Hezbollah’s main command centers in Blida, killing the commander.
The 869th has directed numerous strikes on Hezbollah operatives and infrastructure during operations in southern Lebanon with the 91st Division in recent weeks.
The Saudi Al-Arabiya outlet reports that Hezbollah commander Salim Jamil Ayyash was killed in a recent Israeli airstrike.
Unconfirmed reports on social media claim that Ayyash was killed in a strike near the Syrian city of al-Qusayr.
Ayyash, who had a $10 million reward from Washington on his head, was a senior member of Hezbollah’s Unit 151 assassination squad, according to the US State Department.
In 2020, Ayyash was sentenced in absentia to life imprisonment by a UN-backed tribunal over the assassination of former Lebanese prime minister Rafiq Hariri in a suicide bombing in Beirut in 2005.
Six people were killed and 15 others were wounded in the alleged Israeli airstrike on the Sayyidah Zaynab suburb of Damascus, medical officials at a local hospital tell the Syrian Sham FM radio.
The strike targeted a residential building, according to Sham FM. The official SANA news agency, which initially reported that there had been Israeli strikes, now says only that explosions near Damascus are being investigated.
The Britain-based Syrian Observatory for Human Rights claims the attack targeted two locations “where Hezbollah members live” near the Sayyidah Zeinab municipality. The opposition group, often accused on inflating Syrian losses, puts the death toll at three.
There is no comment from Israel.
END
ISRAEL/IRAN/USA
Netanyahu says he and Trump see eye to eye on Iran after pair hold 3 calls within days
Prime Minister Benjamin Netanyahu said he has spoken with US President-elect Donald Trump three times since in the last five days since the November 5 elections and that the two leaders are aligned on the dangers posed by Iran.“These were good and very important conversations” and were “designed to further tighten the strong alliance between Israel and the USA,” Netanyahu said, adding that this included a common agenda when it came to Tehran.
“We see eye to eye on the Iranian threat in all its components and the danger it poses,” Netanyahu told his government at its weekly meeting on Sunday in a statement that also seemed to be a veiled warning to Iran.He and Trump are also aligned on the “great opportunities before Israel” particularly with regard to peace and the opportunities to expand it, Netanyahu said.
The Israeli Prime Minister has close ties with both outgoing US President Joe Biden and Trump, but his relationship with the former has been rocky due to sharp policy disagreements, while he and Trump are often in accord.
The S-200 missile system is displayed during the Iranian defence week, in a street in Tehran, Iran, September 24, 2024. (credit: MAJID ASGARIPOUR/WANA (WEST ASIA NEWS AGENCY) VIA REUTERS)Netanyahu’s relationship with US presidents
Netanyahu, for example, last spoke with Biden a month ago and has been to the White House only once, since returning to office in December 2022.Israel’s President Isaac Herzog, in contrast, is set to visit the White House for his third visit with Biden during the last four years.Trump is set to enter the White House as Israel is in the midst of a protracted multifront war with Iran and its proxies. He supported Israel’s stance on Iran during his first term in the White House from 2017-2021 and Israel expects him to do so as well now.Israel has been braced for weeks for a direct Iranian retaliatory attack, but it has kept its eye on the larger threat of a nuclear Iran.Defense Minister Israel Katz pledged to work to thwart Iran’s nuclear program and prevent the Islamic Republic from producing atomic bombs, at a changing of the guard ceremony at the Foreign Ministry. In that ceremony newly installed Foreign Minister Gideon Sa’ar took up his position, replacing Katz who had just stepped into his new role as Defense Minister.
“The goals are very clear: thwarting the Iranian nuclear program and preventing Iran from acquiring nuclear weapons from Iran,” Katz said, adding that this “is the most important thing.”It is also important, he said, to prevent Iranian aggression in Lebanon, Gaza, Yemen, Iraq, and Syria as well as preventing Tehran from opening up a new front in the West Bank, Katz said.Netanyahu and Katz spoke about Iran, as the general chief of staff of Saudi Arabia’s armed forces, Fayyad al-Ruwaili, visited Tehran on Sunday to meet with his Iranian counterpart and discuss defense ties, state media reported the Iranian Armed Forces General Staff as saying.Iran’s state media said al-Ruwaili headed a high-level Saudi military delegation in Tehran, met Armed Forces Chief of Staff Maj.-Gen. Mohammad Bagheri, and discussed bilateral and defense ties.Tehran and Riyadh agreed in March 2023, via Chinese intermediation, to reestablish relations after seven years of hostility that had threatened stability and security in the Gulf and helped to fuel conflicts in the Middle East from Yemen to Syria.Reuters contributed to this report.
UKRAINE/RUSSIA/USA
a very important read
Pepe Escobar
Escobar: Putin Outlines The ‘Moment Of Truth’
Saturday, Nov 09, 2024 – 11:20 PM
Authored by Pepe Escobar,
President Putin’s plenary session performance (address + Q&A) at the annual Valdai Club meeting in Sochi felt like a high-speed train on cruise control.
Totally cool, calm, comfortable, in full command of a Himalaya of facts, no political leader anywhere – recent past and present – would even come close to delivering what amounts to an extensive, detailed world view deeply matured over a quarter of a century at the highest geopolitical level.
Putin began his address referring to the October 1917 revolution, drawing a direct parallel with our turbulent times: “The moment of truth is coming”. In a clear tribute to Gramsci, he stated how a “completely new world order” is “being formed before our eyes.”
The subtle reference to the recent BRICS summit in Kazan could not possibly escape critical minds across the Global Majority. Kazan was a living, breathing testimony that “the old order is irrevocably disappearing, one might say, has already disappeared, and a serious, irreconcilable struggle is unfolding for the formation of a new one. Irreconcilable, first of all, because this is not even a fight for power or geopolitical influence, this is a clash of the very principles on which relations between countries and peoples will be built at the next historical stage.”
As concisely as possible, that should be taken as the current Big Picture framework: we are not mired inside a reductionist clash of civilizations or the “end of History” – which Putin defined as “myopic” – but facing a make-or-break systemic clash of fundamental principles. The result will define this century – arguably the Eurasia Century, as “the dialectics of History continues.”
Putin himself quipped that he would drive into “philosophical asides” during his address. In fact that went much further than a mere refutation of unilateral conceptual fallacies, as “the Western elites thought that their monopoly is the final stop for humanity” and “modern neoliberalism degenerated into a totalitarian ideology.”
Referring to AI, he asked rhetorically, “will human remain human?” He praised the building of a new global architecture, moving towards a “polyphonic” and “polycentric” world where “maximum representation” is paramount and the BRICS are “coming up with a coordinated approach” based on “sovereign equality.”
Six Principles For Global Sustainable Development
Sovereignty had to be one of the predominant themes during the Valdai Q&A. Putin was adamant that Russia must “develop our own sovereign AI. As algorithms are biased and give massive power to a few big companies that control the internet, the need is imperative for “sovereign algorithms.”
Answering a question on Eurasian security and the US as the dominant maritime power v. a multipolar Eurasia, he stressed the “consensus and desire in Eurasia for an anti-hegemonic movement”, and not for Eurasia constituted “as a bloc”. That’s the appeal of Eurasia’s “multi-vector foreign policy”, implying “more political independence”. The key example of “harmonizing interests”, Putin stressed, is the Russia-China partnership, and that was also what “made BRICS successful.”
Compare it in contrast to “the inability in Europe to establish a system of “indivisibility of security” and to “overcome bloc politics”; Europe instead went for NATO expansion: “After the end of the Cold War there was an opportunity to overcome bloc politics. But the US had fear of losing Europe. The US installed almost a colonial dependence. Honestly I did not expect that.”
Putin introduced a fascinating personal experience tidbit referring to a conversation – in German – with former German chancellor Helmut Kohl in 1993, when Kohl said flat out that “the future of Europe” is linked to Russia.
Yet that ended up leading to “the most important problem on our Eurasian continent, the main problem between Russia and European countries: the trust deficit (…) When they tell us that ‘we signed the Minsk agreements on Ukraine only to give Ukraine an opportunity to rearm, and we had no intention of resolving this conflict peacefully,’ what kind of trust can we talk about? (…) You have directly publicly stated that you have cheated us! Lied to us and deceived us! What kind of trust is that? But we need to get back to that system of mutual trust.”
Putin then added that Europe should consider becoming part and parcel of a Chinese concept straight from Chinese philosophy (“they do not strive for domination”). With panache, he stressed that the Chinese uber-geoeconomic trade/connectivity project should be interpreted as One Belt, One Common Road.
And that extrapolates to Central Asia, with all those nations “very young in their statehood” interested in “stable development”. For Russia-China, there’s “no competition” in the Heartland: “we only have cooperation.”
Putin once again enumerated what he considers the 6 key principles for global sustainable development: openness of interaction (implying no “artificial barriers”); diversity (“a model of one country or a relatively small part of humanity should not be imposed as something universal”); maximum representativeness; security for all without exception; justice for all (erasing “the gap between the ‘golden billion’ and the rest of humanity); and equality.
“Make Civilizations, Not War”
On Ukraine, this was the money quote: “If there is no neutrality, then it’s difficult to imagine any kind of good neighborly relations between Russia and Ukraine.” In a nutshell: Moscow is ready for negotiations, but based on facts on the battlefield and what was agreed upon in Istanbul in April 2022.
That may be interpreted as a direct message to President Trump. To whom the door is open: “Russia has not damaged its relations with the US and is open to their restoration, but the ball is in the Americans’ court.”
Putin on US Presidents (he met quite a few): “All of them are interesting people.” On Trump: “His behavior when there was an attempt on his life, I was impressed. He is a courageous person. He acquitted himself valiantly.” On the open door: “Whatever he does it’s up to him to decide.” Then Putin offered his own congratulations for the re-election – on the record. The dialogue may be on: “We are willing to talk to Trump.”
Putin extolled Russia-China relations as part of their strategic partnership as being “at the highest level in modern history.” He also praised his own personal relation with Xi Jinping. That paved the way for the real killer, when it comes to US-Russia-China: “If the US had chosen a trilateral cooperation instead of double constraint – everyone would win.”
An excellent question by Brazilian economist Paulo Nogueira Batista Jr – a former vice-president of the NDB, the BRICS bank – led Putin to clarify his own position on de-dollarization. He stated flatly that “my role is to see ideas shaped that we then propose to our partners”.
The key target is “proposing to create a new investment platform using electronic payments.” That will address the “most promising markets” in the near future – South Asia, Africa, parts of Latin America: “They will need investment, technologies.” And “tools independent from inflation” – with regulation “through Central Banks and the NDB. We agreed to have a working group meeting regularly at government level. We are in no hurry.”
So that puts to rest any scenario of an immediate BRICS financial bombshell – even as “two-thirds of our trade is being serviced in national currencies” and among BRICS the figures are also high.
BRICS Bridge will be tested – soon. As for creating a single currency, that’s “premature. We need to achieve greater integration of economies, increase the quality of economies to a certain – compatible – level.”
Then, the bombshell: “We never wanted to abandon the dollar!” That goes a long way to explain Putin’s own view on de-dollarization: “They are undoing it with their own hand – the power of the dollar.”
All of the above is just a sample of the width and breath of themes addressed by the President during the Valdai Q&A. The forum itself offered precious nuggets all across the spectrum. Some participants – correctly – noted the absence of “the majority of the majority”: youth and women. Africans were impressed with “the sharp mind of Russian bureaucracy.”
A Chinese view noted how “the Chinese don’t swim against the current; they cross the river and reach the other bank.” There was a near consensus that development should be “based in different cultural values of civilizations” – actually Putin’s own view. Also imperative is the “need for aggregate authority” among the Global South.
A Greek insight was particularly powerful when it comes to the civilizational approach to politics: “Civilizations don’t clash. States do.” Thus the new – playful – motto that could guide not only BRICS but the whole Global Majority: “Make Civilizations, Not War.”
END
UKRAINE/RUSSIA/USA/Monday
First Trump-Putin Call Since Election Focuses On The Quick ‘Resolution Of Ukraine War’
Sunday, Nov 10, 2024 – 08:25 PM
President-elect Donald Trump is already moving quite fast on his goal to quickly bring to an end the Ukraine war. It has been revealed Sunday he held a phone call with Russian President Vladimir Putin previously on Thursday, the first such communication between the two since Trump won the election.
Trump urged immediate de-escalation in the call with Putin. The Washington Postdescribes that “During the call, which Trump took from his resort in Florida, he advised the Russian president not to escalate the war in Ukraine and reminded him of Washington’s sizable military presence in Europe, said a person familiar with the call, who, like others interviewed for this story, spoke on the condition of anonymity to discuss a sensitive matter.”
Multiple sources said the call focused on the “goal of peace on the European continent” and ended on a positive note with plans to hold future conversations on “the resolution of Ukraine’s war soon”.
WaPo has further said that Ukraine was informed that the call was going to take place and did not object. However, the Zelensky government has subsequent this the report rejected this claim.
“Reports that the Ukrainian side was informed in advance of the alleged call are false. Subsequently, Ukraine could not have endorsed or opposed the call,” Ukrainian foreign ministry spokesperson Heorhii Tykhyi toldReuters.
WaPo has also underscored that the Trump transition team is fearful of leaks at this point:
Trump’s initial calls with world leaders are not being conducted with the support of the State Department and U.S. government interpreters. The Trump transition team has yet to sign an agreement with the General Services Administration, a standard procedure for presidential transitions.
Trump and his aides are distrustful of career government officials following the leaked transcripts of presidential calls during his first term. “They are just calling [Trump] directly,” one of the people familiar with the calls said.
Currently, the Zelensky government and some of the more hawkish leaders within NATO are deeply worried that the future Trump White House will force a ‘bad deal’ – or one that pressures Kiev to give up some 20% of his territory. They are against anything which the Kremlin could view as ‘victory’ for Russia.
One proposed plan, said to be getting the most attention from Trump’s team, would see an indefinite ‘freeze’ on the front lines in the east, paving the way for immediate ceasefire, and enforced by European peacekeepers along an 800-mile demilitarized zone.
Peace would also be ensured by Ukraine agreeing to suspend its aspirations to join NATO for twenty years. This buffer zone would not involve any US troops, according to initial reports based on the description of Trump officials.
Regardless of if the hoped-for ceasefire takes shape, which would spare countless lives, the fact that Trump and Putin are already talking will only be seen as a bad thing by hawks who have recklessly pushed for escalation from the beginning. These same warmongers even condemned France’s Macron when he early in the war sought an off-ramp through an initial series of phone calls with Putin.
Military bloggers on Friday reported that Russian forces were moving closer to capturing a major town on the eastern front in the war in Ukraine as part of their drive westward to capture all of the Donbas region.
Bloggers on both sides reported that Russian forces had entered the village of Sontsivka and were advancing from the northwest on the city of Kurakhove.
“The Kurakhove direction and the Pokrovsk direction are the most challenging right now,” President Volodymyr Zelenskiy announced in a nightly video address this weekend.
The world knows that Ukrainian forces are losing anyway, and Russia is poised to take all of Donetsk, so it is indeed long past time for Washington to do everything possible to both de-escalate and wind down and ultimately find permanent peaceful settlement.
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUE
special thanks to Robert H for sending this to us:
IVERMECTIN Testimonial – Stage 3 Rectal Cancer responds incredibly to lower dose of Ivermectin! 90% drop in CEA after Oncologist said “don’t take Ivermectin” and patient did the opposite
I am not for stopping all vaccines as they have when safely and properly developed, been very beneficial, yet something devastating has happened given the craven criminal people in pharma now,
scientists, doctors, lobbyists, special interests who care only about making money, and companies like Pfizer and Moderna are operating like bandits, unshackled bandits pretending they do not see what their mRNA Malone et al. vaccine has done and is doing. These people have taken vaccines (and we must discuss the link to the biowarfare, bioterrorism aspect of vaccine development) and now are making unsafe, untested products solely to make money.
The entire vaccine industry and pharma must be investigated. The COVID mRNA vaccine makes us question every single vaccine out there, especially the underpinning science and what games are played with FDA to secure approval. It seems that much of the research is methodologically flawed and corrupted. FDA cannot have this revolving door policy with vaccine makers. Pharma must not be such a major funder of vaccine makers. It is too corrupted now. It has to be fixed and Trump must ensure this. I stand ready to help fix it.
Alexander MAGA Trump news; fake PCR created non-pandemic is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
You must not wait for another catastrophic crisis (at times manufactured but we are prevented from making our own basic personal decisions or accessing needed drugs and response tools) to catch you off-guard. We must take charge and be prepared today so that we can enjoy peace of mind tomorrow.
Enter the Wellness Company as a solution and a willing participant in the health care conversation. From telemedicine, prescriptions, memberships, and supplements, TWC is leading America with alternative choices to the traditional health care model.
Jan 6 Defendants Anticipate Pardons from TrumpFollowing President Donald Trump’s historic comeback, defendants who were persecuted in the Democrats’ politically motivated Jan. 6 cases are now hoping to soon receive pardons from the incoming 47th POTUS.READ MORE
Two Hitmen Arrested in US After Iran ‘Ordered Trump’s Assassination’Two hitmen have been arrested and charged in connection with a thwarted Iran-backed plot to kill Donald Trump. The alleged assassination bid was placed in the hands of a gun for hire in late September, with plans to take out the president-elect before the November 5 election. Shocking details of the sick plot were revealed on Friday after the FBI …READ THE FULL REPORT
Jack Smith Tucks Tail, Halts Trump Case as House GOP Demands He ‘Preserve Records’Special Counsel Jack Smith has moved to pause his case against Donald Trump and vacate all remaining deadlines his federal J6 case.What’s more, he’s been asked to preserve records for a GOP investigation. As Jonathan Turley notes, the election reflected a certain gag sensation for a public fed a relentless diet of panic and identity politics for eight years. The …READ THE FULL REPORT
DOJ arrests and charges three terrorists in Iranian plot to murder President TrumpThe Department of Justice has just arrested and filed criminal charges against three terrorists in an Iranian plot to hire someone to murder President Trump. Here’s what we know from the AP: The Justice Department on Friday disclosed an Iranian murder-for-hire plot to kill Donald Trump, charging a man who said he had been tasked by a government official before …READ THE FULL REPORT
Maricopa County Recorder Makes Strange Move Amid Controversy Over Arizona’s Slow Ballot CountMaricopa County, Arizona, Recorder Stephen Richer deleted his X account Thursday with hundreds of thousands of ballots still to be counted. The county’s slow reporting of election results has raised concerns — particularly among supporters of GOP Senate candidate Kari Lake who is in a very tight race with Democratic Rep. Ruben Gallego — that the delay is allowing room …READ THE FULL REPORT
Watch: Karine Jean-Pierre Storms Out of Press Briefing After ‘Unfair’ QuestionWhite House Press Secretary Karine Jean-Pierre didn’t stick around for long at her first press briefing since Tuesday’s election, finally leaving the podium after a Fox News reporter asked if President Joe Biden has considered his culpability in President-elect Donald Trump’s victory. A cool and measured KJP came undone after reporter Jacqui Heinrich queried her about a tweet by Democratic …READ THE FULL REPORT
LATEST REPORTS FOR NEWS JUNKIES
Illegal Aliens Take to the Streets Following Trump’s Victory: ‘We Won’t Back Down’Illegal aliens in New York City — where President-elect Trump enjoyed historic gains in Tuesday’s election — took to the streets in defiance of his victory on Saturday. Illegal aliens held up signs reading “we won’t back down” and “we’re not going back” as they marched through the Big Apple. “No to the anti-immigrant laws, no to deportations,” reads a …READ THE FULL REPORT
Arizona’s Senate Race Has Been CalledRep. Ruben Gallego (D) has won Arizona’s Senate race for the 2024 election. The race was called by Decision Desk on Saturday night at 8:57pm, four days after polls closed in the state. He defeated his Republican opponent, former Arizona gubernatorial candidate Kari Lake (R) Decision Desk HQ projects Ruben Gallego (D) wins the US Senate election in Arizona.#DecisionMade: 8:57 …READ THE FULL REPORT
President-elect Trump offers financial olive branch to DemocratsPresident-elect Donald Trump has just offered a huge financial olive branch to Democrats after learning the Kamala campaign overspent and now vendors and demanding their money. Here’s what Trump said: I am very surprised that the Democrats, who fought a hard and valiant fight in the 2020 Presidential Election, raising a record amount of money, didn’t have lots of $’s …READ THE FULL REPORT
CNN Panel Meltdown Over Trans Issue Shows Left Learned No Lessons from 2024 DefeatA CNN panel discussion this past week perfectly exemplified the Left’s remaining blindspot on the transgender issue, which the Wall Street Journal called the “sleeper issue” of the 2024 election. One guest, Jay Michaelson, yelled at strategist Shermichael Singleton for supposedly being“transphobic” for explaining that boys who identify as trans playing in female sports is not a popular policy with …READ THE FULL REPORT
Minnesota Dad Kills His Wife, Ex and Two Children Over Trump WinA man has killed his wife, ex partner and two sons in a devastating murder suicide which has shattered a tight-knit community. Anthony Nephew, 46, was found dead with a self inflicted gunshot wound inside his home on West 6th Street in Duluth, Minnesota on Thursday afternoon. Three years before his death, he spoke candidly about the mental health crisis …READ THE FULL REPORT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
END
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 MONDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0660 DOWN 0.0050
USA/ YEN 153.82 up 0.260 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 1.2882 DOWN 0.0020
USA/CAN DOLLAR: 1.3929 UP 0.0030 (CDN DOLLAR DOWN 30 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED up 17.77 PTS OR 0.51%
Hang Seng CLOSED DOWN 301.26 PTS OR 1.45%
AUSTRALIA CLOSED DOWN 0.39%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 301.26 PTS OR 1.45%
/SHANGHAI CLOSED UP 17.77 PTS OR 0.51%
AUSTRALIA BOURSE CLOSED DOWN .39%
(Nikkei (Japan) CLOSED UP 32.95 PTS OR 0.08%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2661.00
silver:$31.24
USA dollar index early MONDAY morning: 105.39 UP 51 BASIS POINTS FROM FRIDAY’s CLOSE.
Bitcoin is up over 25% since the election results started limping and it appeared Trump would win. Today’s massive surge took the major cryptocurrency above $87,000 for the first time ever.
Source: Bloomberg
…and it’s going higher…
Source: Bloomberg
Bitcoin ETF trading volumes exploded today…
Source: Bloomberg
Gold, on the other hand, has been hammered lower since the election…
Source: Bloomberg
..but in the broader context, Gold is just shy of its all-time inflation-adjusted high still…
Source: Bloomberg
But Bitcoin/Gold is soaring back near recent highs…
Source: Bloomberg
…and silver has been underperforming gold in the last week or so…
Source: Bloomberg
In stock-land, Democratic Party policy baskets losers kept losing as the ‘Trump Trade’ continues to be bid…
Source: Bloomberg
As UBS Trading Desk notes, The Republicans Versus Democrats Winners basket is up 2.2%, extending its rally to 60% so far this year.
Low quality and cyclical pockets continue their post-election rally whilst shorts squeeze higher:
Hedge Fund Holdings vs High Short Interest is down dramatically since election day.
Financials are the top sector today as Trump Financials rallies another 2.8% and M&A Banks are up 2%. Historically expensive valuations make it difficult to chase the sector higher, though with price and earnings momentum intact it is too early to fade the move. Keep an eye also on Trump Tariff Losers which is up 85bp (unusually outperforming alongside the Republican Winners basket) as the market digests the extent to which Trump 2.0 will implement tariffs and spur inflation.
Notable also today is the underperformance of AI Winners, despite a continued rally in Tesla, driven mostly by AI Semis, which is down 2.1% after the US ordered TSMC to cease sending advanced AI chips to China. Meanwhile, the AI Software Pioneers basket is up 1.5%.
The next major AI catalyst is Nvidia earnings.
Overall, Small Caps were the big winners while Nasdaq was the biggest loser. The S&P clung to unchanged while The Dow managed decent gains…
“Most Shorted” stocks squeezed higher for the 5th straight day (up 10% – the biggest sqaueeze since July’s Fed flip-flop)…
Source: Bloomberg
The cash bond market was closed today for Veterans Day but futures signaled some notable selling pressure. 10Y Futs imply around an 8bps surge in 10Y yields today…
Source: Bloomberg
The dollar rallied back up to post-Trump highs…
Source: Bloomberg
Crude prices fell once again, back near two-week lows…
Source: Bloomberg
Finally, while gold remains the top of the tree for global assets, Bitcoin is quickly accelerating up on Silver’s total stock (and Ethereum is now bigger than BofA)…
Bitcoin is up over 25% since the election results started limping and it appeared Trump would win. Today’s massive surge took the major cryptocurrency above $87,000 for the first time ever.
Source: Bloomberg
…and it’s going higher…
Source: Bloomberg
Bitcoin ETF trading volumes exploded today…
Source: Bloomberg
Gold, on the other hand, has been hammered lower since the election…
Source: Bloomberg
..but in the broader context, Gold is just shy of its all-time inflation-adjusted high still…
Source: Bloomberg
But Bitcoin/Gold is soaring back near recent highs…
Source: Bloomberg
…and silver has been underperforming gold in the last week or so…
Source: Bloomberg
In stock-land, Democratic Party policy baskets losers kept losing as the ‘Trump Trade’ continues to be bid…
Source: Bloomberg
As UBS Trading Desk notes, The Republicans Versus Democrats Winners basket is up 2.2%, extending its rally to 60% so far this year.
Low quality and cyclical pockets continue their post-election rally whilst shorts squeeze higher:
Hedge Fund Holdings vs High Short Interest is down dramatically since election day.
Financials are the top sector today as Trump Financials rallies another 2.8% and M&A Banks are up 2%. Historically expensive valuations make it difficult to chase the sector higher, though with price and earnings momentum intact it is too early to fade the move. Keep an eye also on Trump Tariff Losers which is up 85bp (unusually outperforming alongside the Republican Winners basket) as the market digests the extent to which Trump 2.0 will implement tariffs and spur inflation.
Notable also today is the underperformance of AI Winners, despite a continued rally in Tesla, driven mostly by AI Semis, which is down 2.1% after the US ordered TSMC to cease sending advanced AI chips to China. Meanwhile, the AI Software Pioneers basket is up 1.5%.
The next major AI catalyst is Nvidia earnings.
Overall, Small Caps were the big winners while Nasdaq was the biggest loser. The S&P clung to unchanged while The Dow managed decent gains…
“Most Shorted” stocks squeezed higher for the 5th straight day (up 10% – the biggest sqaueeze since July’s Fed flip-flop)…
Source: Bloomberg
The cash bond market was closed today for Veterans Day but futures signaled some notable selling pressure. 10Y Futs imply around an 8bps surge in 10Y yields today…
Source: Bloomberg
The dollar rallied back up to post-Trump highs…
Source: Bloomberg
Crude prices fell once again, back near two-week lows…
Source: Bloomberg
Finally, while gold remains the top of the tree for global assets, Bitcoin is quickly accelerating up on Silver’s total stock (and Ethereum is now bigger than BofA)…
“Let folks cast their votes for Trump if that’s their choice. But mark my words, we won’t be certifying the election. He might win, but we’ll ensure he doesn’t step foot in the Oval Office.”
– Jamie Raskin (D-MD)
At last, it appears that the Party of Chaos got its fondest wish: it aborted itself in the 2024 election. “Joe Biden” was the coat-hanger it used: this miserable, grifting, now-senile hack politician who will be remembered only for driving his country to the verge of ruin. And for what? All in an effort to cover-up a long train of crimes and abuses against the American people perpetrated by a permanent bureaucracy gone rogue that was the party’s partner-in-crime. And now it’s over.
The childishness of the Left — AOC whining about “fascism” — is under-appreciated. Note how the party’s most august mouthpiece, The New York Times, pretends to soul-search in the aftermath of the election debacle.
“Many Democrats were considering how to navigate a dark future, with the party unable to stop Mr. Trump from carrying out a right-wing transformation of American government. Others turned inward, searching for why the nation rejected them. They spoke about misinformation and the struggle to communicate the party’s vision in a diminished news environment inundated with right-wing propaganda”
– The New York Times
The New York Times diminished itself. It drove itself crazy with narratives — just as a crazy person with disordered thoughts can’t discern what’s real and what’s not. What they need is a serious mental health check. The time for incessant lying, hoaxing, and performative hysteria is over. On Thursday, in a three-minute speech, the President-elect set out a clear list of measures to reconstruct a national consensus based on reality. It includes firing a lot of people in the agencies, dis-embedding all the inspector-generals from the departments they oversee, establishing a “truth and reconciliation commission” to declassify and publish documents “related to alleged deep state activities, including spying, censorship, and corruption,” and finding out who exactly at the CIA / FBI / DHS / and other places has been leaking fables and falsehoods to the news media. In other words, clear away a shit-ton of untruth that burdens the consciousness of country.
Though the statement omitted to say so directly, it’s very likely that a number of public officials will find themselves before grand juries in the years ahead. If you haven’t figured it out already, you’ll learn that the term “misinformation” was just the gas in the gaslight used to confound the country about what has really been at stake — which is your personal liberty in what is supposed to be a free country. The Democratic Party and the Deep State blob really did try to steal that from you.
As they stole the 2020 election — which is probably one of the things to be revealed in the process. Look at this bar graph. Note how many millions more votes were cast in the 2020 elections than in the two previous and now in the 2024 contest. How did that happen? Where did that surplus supply come from? The Covid-19 scam provided the cover for a profligate mail-in ballot operation. They deluged the country with paper. Mark Zuckerberg provided $450-million through his cut-out charities to hire thousands of party activists to harvest and fill-out fraudulent ballots, and stuff them in drop-boxes by the hundredweight, with special attention to the crucial precincts in swing states — and that’s what landed the basement-cringing candidate, “Joe Biden,” in the White House.
It was that simple, and that much in-your-face, and for four years the official organs of the news swatted the truth away claiming they were “false, baseless, conspiracy theories” — and half the country was credulous enough to believe that. Or mentally ill, not able to tell fantasy from reality, especially in the newsrooms. Even more shamefully, this half of the country was led by the better-educated, credentialed, managerial class of citizens, who, amazingly, managed to turn intelligence into a new kind of personal liability. (The simplest explanation for that astounding failure is that people who consider themselves “experts” eagerly believe other experts and credentialed authorities, making them easiest to dupe. That’s why the faculty lounges are full of Jacobins.)
The winning side in this contest didn’t vote against Kamala Harris so much as they voted against the Democratic Party, the Party of Chaos, of BLM riots, of drag queens in the school library, of men in the women’s swim lane (and locker room), of forced vaccinations (your bodily autonomy, sister?), of locking up grandmothers who walked through the Capitol rotunda, of state-driven censorship, of malicious political prosecutions, of ruinous proxy war, of flooding the country with criminal alien mutts, of Mao Zedong style erasing of history, of FISA court surveillance, and, finally, of the same sort of self-loathing for the nation that a three hundred pound sophomore with a nose ring and sleeve tattoos feels for herself.
Indeed, the page is turning, but the story has suddenly changed. It remains to be seen whether the Democratic Party blows up altogether now in what’s shaping up to be a time of harsh recrimination, or whether its front-line activists, Marc Elias, Norm Eisen, Mary McCord, Lisa Monaco and Company skulk in the background hatching new schemes to try to drive the republic insane. They’ll have to work fast because the law might be coming after them in January. But they surely know that.
Between now and then, prepare to put your shoulder to the wheel. It’s not just the US government that begs for reform, but many of the secular operations of daily life in America, especially of an economic scene dominated by freakishly gigantic monopolies that have impoverished so many local communities, destroyed livelihoods and whole ways of life, and made slaves of citizens. That story has hardly begun to be told.
END
THE RIGHT CHOICE/Tom Homan for Border Czar
(zerohedge)
Trump Taps Former ICE Director Tom Homan As ‘Border Czar’
by Tyler Durden
Monday, Nov 11, 2024 – 07:20 AM
President-elect Donald Trump revealed on Sunday night that he plans to appoint Tom Homan, who served as the acting director of Immigration and Customs Enforcement between 2017 and 2018, as the next “border czar.”
“I am pleased to announce that the Former ICE Director, and stalwart on Border Control, Tom Homan, will be joining the Trump Administration, in charge of our Nation’s Borders (“The Border Czar”), including, but not limited to, the Southern Border, the Northern Border, all Maritime, and Aviation Security,” Trump wrote on Truth Social.
Trump continued, “I’ve known Tom for a long time, and there is nobody better at policing and controlling our Borders. Likewise, Tom Homan will be in charge of all Deportation of Illegal Aliens back to their Country of Origin.”
“Congratulations to Tom. I have no doubt he will do a fantastic, and long awaited for, job,” Trump said.
In recent weeks, Homan gave one of the most based interviews on immigration to the far-left media outlet CBS News’ 60 Minutes. When asked about the taxpayer cost of deporting millions of illegal aliens, he responded, “What price do you put on national security?”
At the Republican National Convention in July, Homan told Trump supporters: “I’ve got a message … to all the illegal aliens in violation of federal law … you better start packing now.”
While Homan secures the southern and northern borders and oversees the deportation of illegal aliens, there will be significant moves by the Trump administration to disrupt and destroy dark money financial and trade networks that have sparked the horrific100,000 US drug death overdose crisis per year caused by fentanyl and other drugs – much of which starts as precursor chemicals shipped from China, cooked into fentanyl by Mexican cartels, then flooded in the Lower 48.
Incoming “border czar,” Tom Homan, told “Fox & Friends” hosts earlier today that President-elect Trump’s administration will increase worksite raids to address out-of-control labor and sex trafficking nationwide.
“Where do we find most victims of sex trafficking and forced labor trafficking? At worksites,” Homan told Fox’s Steve Doocy.
Homan is correct about the sex trafficking and forced labor trafficking crisis spreading like wildfire nationwide because of Biden-Harris’ disastrous open southern borders.
Homan noted that Trump’s top priority will be national security. America can no longer afford to have ten-plus million unvetted illegal aliens running around the nation.
Trump confirms pro-Israel Rep. Elise Stefanik job as US ambassador to UN
Stefanik has been openly supportive of Israel and the fight against Hamas and antisemitism.
US REPRESENTATIVE Elise Stefanik (R-NY) speaks during a House Education and Workforce Committee hearing titled ‘Holding Campus Leaders Accountable and Confronting Antisemitism,’ on December 5(photo credit: KEN CEDENO/REUTERS)
President-elect Donald Trump confirmed to the New York Post on Sunday that Republican Representative Elise Stefanik will be his US ambassador to the United Nations.
“I am honored to nominate Chairwoman Elise Stefanik to serve in my Cabinet as U.S. Ambassador to the United Nations. Elise is an incredibly strong, tough, and smart America First fighter,” Trump told the New York Post.
“I am truly honored to earn President Trump’s nomination to serve in his Cabinet as US Ambassador to the United Nations,” Stefanik said, accepting her role.
Just hours before the report, Stefanik made a post on X/Twitter on Sunday, saying, “Joe Biden and Kamala Harris are choosing to ignore the law and waiving mandatory terrorism sanctions on the Palestinian government.”
The Biden-Harris Administration knows that the Palestinian Authority is continuing their “pay-to-slay” policies and lining the pockets of terrorists who kill Israelis. However, Joe Biden and Kamala Harris are choosing to ignore the law and waiving mandatory terrorism sanctions on…— Rep. Elise Stefanik (@RepStefanik) November 11, 2024
“Thankfully, the Biden-Harris Administration’s rewarding of terrorists at the expense of our great ally Israel is coming to an end.”
“Congratulations, Rep. Elise Stefanik, on your nomination as the next US Ambassador to the UN. At a time when hate and lies fill the halls of the UN, your unwavering moral clarity is needed more than ever. Wishing you success in standing firm for truth and justice,” Israel’s Ambassador to the UN, Danny Danon, said of her nomination.
Stefanik is most well-known for making the headlines in December of 2023, where she took part in a high-profile congressional hearing with the presidents of Harvard, MIT, and the University of Pennsylvania to address antisemitism on campus and overall feelings of lack of safety for Jewish students.
Harvard University President Claudine Gay testifies before a House Education and The Workforce Committee hearing titled ”Holding Campus Leaders Accountable and Confronting Antisemitism” on Capitol Hill in Washington, US, December 5, 2023. (credit: REUTERS/KEN CEDENO)
During this hearing, Stefanik asked all three presidents directly if “calling for the genocide of Jews” was against their respective universities’ codes of conduct, to which all three presidents answered that it depends on the context of the situation.
In May, she spoke at a Sunday meeting of the Knesset Caucus for Jewish and Pro-Israel Students on Campuses Around the World, stating, “There is no excuse for an American president to block aid to Israel.”
Stefanik has been openly supportive of Israel and the fight against Hamas and antisemitism. “It’s why I have sponsored, or backed, every measure to aid Israel that has come before the US Congress – every single one.”
It was also why Stefanik, for years, has been, as she describes herself, “a leading proponent and partner to [former] President [Donald] Trump in his historic support for Israeli independence and security.”
According to Stefanik, the fight against Hamas was one of “good versus evil, civilization versus barbarism, and humanity versus depravity.” She said that the majority of American citizens stood behind Israel.
Criticism of Biden
Under the Presidency of Joe Biden, Stefanik has been highly critical of his administration’s foreign policies.
In April, during a House Republican leadership press conference, she outlined the party’s points of contention with Biden’s handling of Russia, Iran, China, and Afghanistan.
“Under Joe Biden, the world is less safe,” Stefanik said. “His desperate policy of appeasement has left our nation and our allies vulnerable to attack.”
Stefanik said America’s enemies do not fear recourse because of Joe Biden, and the US needed to return to former President Donald Trump’s “peace through strength” policies, which House Republicans proudly support
END
.Trump Names Stephen Miller As Deputy Chief Of Policy, Vance Confirms
President-elect Donald Trump is naming longtime adviser Stephen Miller to be the deputy chief of policy in his upcoming administration, according to Vice President-elect JD Vance.
Vance, a Republican Ohio senator, wrote a message of congratulations to Miller on social media platform X, describing the move as “another fantastic pick by the president.” He was responding to a message on X that cited CNN as saying Miller would be named as deputy chief of policy.
The report from CNN, which cited anonymous sources connected to Trump, first reported on the development Monday. Neither Trump nor Miller have commented on Vance’s comment or the reports.
Miller was a senior adviser in Trump’s first term and has been a central figure in many of his policy decisions, namely focusing on illegal immigration and border security. Miller also helped craft many of Trump’s speeches and plans on immigration.
The Epoch Times has contacted the Trump campaign for comment Monday.
Since Trump’s first term in the White House ended in 2021, Miller served as the president of America First Legal, a legal group that has filed a number of lawsuits against the Biden administration, universities, and media companies over issues such as immigration, religion, and freedom of speech.
Other than Miller, Trump has so far named campaign manager Susie Wiles as his chief of staff, former Immigration and Customs Enforcement (ICE) chief Tom Homan as his “border czar,” and Rep. Elsie Stefanik (R-N.Y.) as his U.S. ambassador to the United Nations.
“I am pleased to announce that the Former ICE Director, and stalwart on Border Control, Tom Homan, will be joining the Trump Administration, in charge of our Nation’s Borders (‘The Border Czar’), including, but not limited to, the Southern Border, the Northern Border, all Maritime, and Aviation Security,” Trump said on Truth Social.
He added, “I’ve known Tom for a long time, and there is nobody better at policing and controlling our Borders,” adding that Homan “will be in charge of all Deportation of Illegal Aliens back to their Country of Origin.”
Regarding Stefanik’s nomination, Trump described her as a “incredibly strong, tough, and smart America First fighter.”
Trump wrote Saturday in a social media post that he will “not be inviting back Nikki Haley, who served as his UN ambassador in his first stint in the White House, along with well as former Secretary of State Mike Pompeo, who also served as his CIA director. Haley, a former South Carolina governor, ran against Trump in the GOP primary before she dropped out and endorsed him for president earlier this year.
Along with carrying out mass deportations, Trump has promised to sign an executive order on his first day in office to prevent agencies from giving automatic American citizenship to children who are born of illegal immigrants who are in the United States, known as birthright citizenship.
Trump likely will also resume construction of a border all along the U.S.-Mexico border, a promise he made often during the 2016 campaign cycle. More than 400 miles of border barrier were erected or replaced during his first administration, according to an archived news release issued by the first Trump administration in late 2020.
The Associated Press contributed to this report.
END
Trump Confirms He Has No Choice But To Carry Out Mass Deportations
President-elect Donald Trump said this week that his incoming administration has “no choice” but to carry out mass deportations of illegal immigrants, regardless of how much it may cost.
Speaking with NBC News on Thursday, the president-elect was asked about how much it would cost to carry out his deportation plan, which he made reference to numerous times during his presidential campaign.
“It’s not a question of a price tag,” Trump said, adding that “really, we have no choice.”
“When people have killed and murdered, when drug lords have destroyed countries. And now they’re going to go back to those countries because they’re not staying here. There is no price tag.”
His campaign had pledged to expel about 11 million people who are not authorized to be in the United States, although Trump himself has said he believes that as many as 21 million are in the country illegally.
“We obviously have to make the border strong and powerful, and we have to—at the same time, we want people to come into our country,” he said before signaling that the United States still needs legal immigrants.
“And you know, I’m not somebody that says, ‘No, you can’t come in.’ We want people to come in.”
Both Democrats and the nonprofit American Immigration Council have been critical of the mass deportation proposal, with the NGO estimating in a report that Trump’s plan may cost as much as $315 billion overall.
In campaign events and media appearances, both Trump and Vice President-elect JD Vance have said that Americans would see longstanding economic benefits from the deportation plan. During his only debate with Minnesota Gov. Tim Walz, Vance said that illegal immigrants are a reason why housing and rent prices have soared across the United States in recent years.
“Kicking out illegal immigrants who are competing for those homes” would help bring down housing costs, Vance said on Oct. 1.
Some economists have disagreed with Vance’s assertions, saying that the increase in housing prices stems from a long period of underbuilding in the United States due to land-use regulations.
But aside from the economic impact, Vance has argued that illegal immigration has devastated parts of the country, including places that are far from the U.S. border with Mexico. Illegal immigrants have overwhelmed schools, hospitals, and other systems across the United States, he’s said on several occasions, including during his debate with Walz, who was Vice President Kamala Harris’s running mate.
“In communities all across this country, you’ve got schools that are overwhelmed, you’ve got hospitals that are overwhelmed, you have got housing that is totally unaffordable because we brought in millions of illegal immigrants to compete with Americans for scarce homes,” Vance said in his lone debate.
Trump has vowed to invoke the Alien Enemies Act, a 1798 law signed by second President John Adams that allows the president to deport any noncitizen from a country the United States is at war with. He has spoken about deploying the National Guard, which can be activated on orders from a governor.
Stephen Miller, a top Trump adviser, has said that troops under Republican governors would be sent to nearby states that refuse to participate.
Amid questions about how such a deportation plan would play out, Vance has said that deporting millions would be done one step at a time, not all at once.
“You start with what’s achievable,” Vance told ABC News over the summer. “I think that if you deport a lot of violent criminals and frankly if you make it harder to hire illegal labor, which undercuts the wages of American workers, I think you go a lot of the way to solving the illegal immigration problem.”
Andrew Arthur, a fellow at the Center for Immigration Studies, which supports immigration restrictions, said that the plan would not be akin to “a dragnet” on illegal immigrants.
“There’s no way you could do it. The first thing you have to do is seal the border and then you can address the interior,“ he said. ”All of this is going to be guided by the resources you have available.”
The Associated Press contributed to this report.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
special thanks to Robert H for sending this to us
Pelosi is one total nutbar! She wants to impeach Trump already for winning the election and that she said is illegal!. Believe it or not!
Nancy Pelosi: ““He won, and that’s against the law,” Pelosi said. “And, quite frankly, he’s admitted it. He’s admitted to winning the election, but no one is above the law.”
HUMOUR OF THE DAY:
Nancy Pelosi Begins Drafting Articles Of Impeachment
WASHINGTON, D.C. — Early reports from Capitol Hill indicated that President-Elect Donald Trump’s upcoming second term was already off to a contentious start, with Congresswoman Nancy Pelosi reportedly drafting articles of impeachment against him for his involvement in the 2024 presidential election.
“He won, and that’s against the law,” Pelosi said. “And, quite frankly, he’s admitted it. He’s admitted to winning the election, but no one is above the law.”
Though Pelosi no longer serves as Speaker of the House and was unable to cite any specific law or statute Trump had broken by winning the election, she remained determined to follow through on impeaching him again.
“He must be held accountable for this heinous crime,” Pelosi continued. “This is an urgent matter. We don’t have time to deal with citing actual reasons why he should be impeached. That’s not necessary. The important thing is to make sure he gets impeached for… something. We cannot let him be president again because that would be very bad for me, and that’s illegal.”
At publishing time, Kentucky Congressman Thomas Massie, who sits on the House Judiciary Committee, thanked Pelosi for her service and assured her he would place the articles of impeachment in a brand-new special filing cabinet that looked suspiciously like a trash can.
end
iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES
END
FREIGHT ISSUES/USA/
END
VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON
KING REPORT
The King Report November 11, 2024 Issue 7367
Independent View of the News
Nissan shares plunge over 10% after downbeat quarterly results, production-cut planshttps://t.co/Qv5YpsXfxZ
China Disappoints with Latest “Bare Minimum” Stimulus as It Waits For Trump Tariffs The details of the 10 trillion (but really 12 trillion program) are as follows: 1) A one-off increase in the 6tn yuan local government debt issuance, over 3 years (2024-26); 2) 4tn yuan special LGB issuance under the annual quota, over 5 years (2024-29); and Additionally, the government will guarantee to pay back 2tn yuan implicit debt related to shantytown redevelopment due in 2029 and after… https://www.zerohedge.com/economics/china-disappoints-latest-bare-minimum-stimulus-it-waits-trump-tariffs
FBI thwarts Iranian murder-for-hire plan targeting Donald Trump (3 people charged) If the man, identified as Farjad Shakeri, was unable to create a plan by then, the complaint said, the official told him Iran would pause its plan until after the presidential election because the official believed Trump would lose and it would be easier to assassinate him then, the complaint said… The plot, with the charges unsealed just days after Trump’s defeat of Democrat Kamala Harris, reflects what federal officials have described as ongoing efforts by Iran to target U.S. government officials, including Trump, on U.S. soil. https://www.wsaz.com/2024/11/08/fbi-thwarts-iranian-murder-for-hire-plan-targeting-donald-trump/
The fact that the Biden Administration has done nothing significant or overt to Iran for the repeated attempts on Trump’s life speaks volumes about Team Obama’s unrequited love for Iran.
@Osint613: Brian Hook, is reportedly being tapped to begin assembling the State Department for a potential new Trump term. Hook, recognized for his hardline stance on Iran and as an architect of the “maximum pressure” strategy involving sanctions, covert actions, and targeted operations against Tehran, has been assigned to help shape the new foreign policy team. – CNN
Trump to revive ‘maximum pressure’ on Iran by supporting sanctions, Israel strike on nuclear sites Trump, 78, plans to “isolate Iran diplomatically and weaken them economically so they can’t fund all of the violence” done by its proxies such as Hamas, Hezbollah, and the Yemen-based Houthis, former US Special Representative for Iran Brian Hook told CNN Thursday.. https://trib.al/IrgtwMo
NYT: Trump team considering relocating EPA out of D.C. (Reporting other agencies, too!) @EricLDaugh: Trump announces he’s set to ensure voting ID is used nationwide(and citizen proof) https://x.com/EricLDaugh/status/1855227122077311371
ESZs traded sideway and mostly positive from the Nikkei opening until they broke down at 5:19 ET.
After declining to the daily low of 5990.25 at 6:04 ET, ESZs commenced a robust rally that took ESZs, with only two modest interruptions, to a daily high of 6040.50 at 14:40 ET. Minutes later, ESZs sank to 6027.25 at 15:01 ET on profit taking ahead of the weekend. ESZs then went inert until they broke lower near 15:24 ET. ESZs hit a low of 6020.00 at 15:50 ET. The late manipulation pushed ESZs to 6028.50.
Positive aspects of previous session The DJIA jumped above 44k; the S&P 500 Index jumped above 6k at 13:37 ET. Bonds rallied moderately. Commodities sank on China’s disappointing stimulus proposal.
Negative aspects of previous session The NY Fang+ Index fell, despite TSLA’s 8.19% jump. They were grossly overbought as we warned. The S&P 500 closed (5995.54) below 6000. Cable TV already teems with cheesy Christmas movies.
Ambiguous aspects of previous session The dollar rallied sharply, again. How will DJT respond to PE Powell’s contemptuous challenge? How will Team Trump respond to Iran and its assassination attempts on DJT?
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]: 5994.92 Previous session S&P 500 Index High/Low: 6012.45; 5876.76
‘Pogrom’ in Amsterdam: five in hospital, 62 arrested, police say – The Israeli National Security Council told Israelis to remain in their hotel rooms, avoid wearing anything with Jewish or Israeli symbols and to return home early. Israeli Prime Minister Benjamin Netanyahu stated at about 4:30 a.m. local time that he was dispatching two rescue planes to Amsterdam following a “very violent incident against Israeli citizens.” “In terrible historical irony, this is happening two days before the grim anniversary of Reichspogromnacht in 1938, when Nazi-sanctioned and led pogroms against Jews erupted across the German Reich.”… “The mob, who targeted these innocent Israelis, has proudly shared their violent acts on social media,” the embassy stated… https://www.jns.org/netanyahu-sends-planes-to-amsterdam-to-rescue-jews-from-pogrom/
@Osint613: According to reports, the attack on Jewish soccer fans in Amsterdam appeared coordinated. Small groups of 5-10 men strategically positioned themselves around Ajax’s Johan Cruyff Arena, lying in wait to ambush the Jewish fans.
@OzraeliAvi on Thu: Shocking footage coming out of Amsterdam tonight of armed Middle Eastern gangs hunting and beating Jews in the streets. Europe has fallen. https://t.co/VxfWwjljQN
@NiohBerg: What is happening in Europe can be described in two words which have dominated European politics for half a century:Suicidal Empathy.
@MarinaMedvin on Thu: There’s absolutely nothing in MSM news about the Islamic pogrom in Amsterdam targeting Israeli Jews. Jews were beaten, stabbed, run over by cars… in what appears to be an absolutely organized attack. This has been happening for hours now. There has been more than enough time –…but nothing in the news.
@AmyMek on Thu: Islamized Chicago: A Stark Double Standard Unfolds Tonight, Hamas supporters stormed a synagogue in Chicago, terrorizing Jewish worshippers in a shocking, violent display. Imagine if such an attack took place in a mosque—if people broke into a place of worship targeting Muslims. The entire city would be filled with protesters, the media would be airing continuous coverage, and left-wing leaders worldwide would be tripping over each other to be the first to condemn the act, probably donning hijabs in symbolic solidarity.. https://t.co/FWKDRsawc8
@sentdefender: Qatar has notified Hamas Officials staying in the country, that they are no longer welcome and must immediately make preparations to depart. (The Trump Effect is operative!)
@Schuldensuehner: In the past 2 days, Germany has gone through what’s known as a “dark doldrums” period, where no electricity was generated from solar or wind. As a result, wholesale electricity prices spiked at times to >€800 per megawatt hour—10 times the usual avg. https://t.co/lddd0TYYlj
@DavidSacks: Zelensky reportedly spurned Trump’s peace offer. He isn’t ready to make a deal. That’s fine. America has other things to do. Deprioritize Ukraine and let Europe handle it from here. https://x.com/DavidSacks/status/1854972042975596996
Trump wants to make crumbling Penn Station and NYC subways ‘beautiful’ again: sourceshttps://trib.al/Ajztz14
The CDC Planned Quarantine Camps Nationwide The plan’s authors were unnamed but included 26 footnotes. It was completely official. The document was only removed on about March 26, 2023. During the entire intervening time, the plan survived on the CDC’s public site with little to no public notice or controversy. It was called “Interim Operational Considerations for Implementing the Shielding Approach to Prevent COVID-19 Infections in Humanitarian Settings.”… High-risk individuals would be temporarily relocated to safe or ‘green zones’ established at the household, neighborhood, camp/sector, or community level depending on the context and setting. They would have minimal contact with family members and other low-risk residents.” In other words, this is what used to be concentration camps… https://brownstone.org/articles/the-cdc-planned-quarantine-camps-nationwide/
@kylenabecker: 49 of 50 States Shifted RED in the 2024 Election. States that shifted most right: NY, CA, WV, NJ, MD. States that shifted hard to the right: AK, HI, NV, ID, NM, TX, MS, AL, IL, TN, SC, FL, RI, MA, CT. All other states shifted right except UT (CA emigres/Romney supporters?), parts of NE. https://x.com/kylenabecker/status/1854942846005952580
GOP Sen. @BasedMikeLee: The Executive Branch should be under the direction of the president. That’s how the Constitution was designed. The Federal Reserve is one of many examples of how we’ve deviated from the Constitution in that regard. Yet another reason why we should #EndTheFed.
@AFpost: Ron Paul responds to Jay Powell saying Trump can’t fire him, says the Federal Reserve is “unconstitutional to begin with.”
@ClayTravis: It’s Friday and California has still only counted 59% of its vote. This is completely unacceptable. Florida counted its entire vote in roughly 45 minutes. We need a federal law mandating all votes be counted within 24 hours of a federal election. We can’t allow this. Votes were counted faster in the 1800’s than today. The longer the counting takes the less anyone trusts the results…
@ThePatriotOasis: The FEMA supervisor who instructed disaster relief officials to “Avoid homes advertising Trump,” has been relieved of duties, according to an official statement. Her name is Marn’i Washington. Marn’i reportedly conveyed the message both verbally and through a Microsoft Teams chat to relief workers. https://x.com/ThePatriotOasis/status/1855210154259792062
Florida Gov. DeSantis has ordered a state investigation into the above FEMA issue. PS – We’re old enough to remember when the MSM and Dems said it was conspiracy theory when reports appeared that FEMA was NOT providing help to some hurricane victims in DJT-friendly areas.
@TheTonus: The greatest reason for the… total disbanding and reimagining of almost all federal agencies: whenever a federal employee is caught doing something wrong, there are no consequences…
CNN’s @ScottJenningsKY: The unelected federal bureaucracy should not be having secret meetings (that then leak to the media) about how to thwart the incoming President of the United States. What’s Pres. Trump supposed to think? Really unproductive IMO, as I said on @cnn.https://t.co/z2maaq83TD
Only brain-washed Dems and Never Trumpers buy the ‘controversial orders’ canard. This is a mutiny and a conspiracy. It’s court martial and Leavenworth time! DJT now has the excuse to expunge the US military of all the woke leftists that Obama installed in the DOD, Pentagon, and US military!
The DOD, Pentagon, US military, and MSM had no problem with Clinton using US troops to incinerate women and children at the Branch Davidian compound at Waco, Texas! ‘They’ rejoiced that Slick signed a Posse Comitatus Act waiver to deploy US troops and heavy armor against US civilians. Ex-DOD official @EzraACohen: Again, we are reminded there has been a complete breakdown in civilian control of the military. There are many reasons for this but here are the top 3: Mark Milley who loathed the idea of civilian control has installed an entire class of 3 and 4 stars that feel the same as him. To them it is not about the President it is about the Presidency itself. The Joint Staff, which is meant to be an advisory body has grown to several thousand with dozens of GOFOs… In the past 8 years we have had two retired generals as SECDEF, blurring the lines between civilian and military control. There is a law on the book barring retired generals from serving as SD but congress has waived it twice. What’s the point of a law if it’s repeatedly waived?
@bennyjohnson: Democrats complained their biggest fear would be Trump refusing to concede the 2024 Election. He won in a landslide. The Pennsylvania Senate race has also been called, but Bob Casey still refuses to concede. Where is the Democrat Party calling him a ‘threat to Democracy’?
BTW – California and Arizona are still counting ballots! There is only one salient reason for this! Arizona election official said he wanted to ‘make life hell’ for GOP candidate Kari Lake – explosive court documents show… https://trib.al/w8NLWte
@SenRickScott: Dave McCormick is the senator-elect & @SenSchumer’s move to not allow him to participate in orientation this week is disgusting. They did the same thing to me after I beat a Democrat in 2018. We have to fight this! AP called it. Dave won, Casey must concede NOW.
5-star phony/hypocrite Chuckie Schumer last week asserted that the GOP should rule the Senate in a bipartisan manner. Then he does this!
On Saturday, VP-elect JD Vance warned the EU that the US could drop support for NATO if Europe tries to regulate Elon Musk’s X.
The great post-DJT win news keeps coming! Reports on Saturday said FBI Director and smug fop, Chris Wray, will resign before Trump’s inauguration!
To allay the fears of MAGA nation, Trump said Pompeo & Haley will NOT be joining his administration.
Fed’s Kashkari says broad-based deportations could disrupt labor for some businesseshttps://t.co/4RAI9wGmdB
If DJT replaced Fed officials and staff with cheaper illegal immigrants, GS Kashkari would have a different view. GS Kashkari, like PE Powell and many elites, openly show contempt for Main Street. PS- Immigrants couldn’t do worse than what the Fed has done over the past few decades!
Today – The bond market, Fed, and federal government are closed for Veterans’ Day. The greedy solons that run the equity markets have an insatiable craving for pilfering pennies on order flow. So, stock markets are open. Traders will try to force the S&P 500 Index above 6000 again. If the index wobbles again above 6k, down it goes! ESZs are +7.00 & NQZs are +36.00 at 20:15 ET on Sunday night buying.
Biden and Trump will meet at the White House on Wednesday at 11:00 ET.
S&P Index 50-day MA: 5728; 100-day MA: 5614; 150-day MA: 5483; 200-day MA: 5385 DJIA 50-day MA: 42,125; 100-day MA: 41,077; 150-day MA: 40,293; 200-day MA: 39,939 (Green is positive slope; Red is negative slope)
S&P 500 Index (5995.54 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5218.49 triggers a sell signal Weekly: Trender and MACD are positive – a close below 5509.91 triggers a sell signal Daily: Trender and MACD are positive – a close below 5792.96 triggers a sell signal Hourly: Trender is positive; MACD is negative– a close below 5971.84 triggers a sell signal
Joe Rogan: “Apparently Elon created an app and he knew who won the election four hours before the results. Dana White told me Elon said ‘I’m leaving. It’s over. Donald won.” I don’t know how he did it. Dana said Elon showed him the app and said, “It’s over,” and then just left.” https://x.com/AutismCapital/status/1854976633733890264
Kamala Harris campaign’s election-eve concerts said to cost up to $20M — as rank-and-file staff, vendors fear they won’t be paidhttps://trib.al/E4W8r8u
@seanmdav: Republicans are going to lose at least two Senate seats (MI and WI) and possibly even four (add in AZ and NV) because Mitch McConnell spent millions down the homestretch in an obviously doomed Senate race for left-wing RINO Larry Hogan in Maryland, who lost by 8 points.
McConnell has lost several Senate seats since Trump’s first term because he spent millions on anti-DJT/pro GOPe candidates. Trump supported weak candidates to stifle McConnell. This led to Senate seat losses in PA (Dr. Oz), GA (2 seats, including the Hershel Walker candidacy), and AZ (two seats).
Harris campaign staffer deletes his X account after poor-taste dig at Biden David Plouffe, who previously led Barack Obama’s successful bid for the White House, thanked members of Harris’ campaign for their work, saying they ‘left it all out on the field’ in a message Wednesday night. He then concluded the message by saying, ‘We dug out of a deep hole, but not enough,’ calling it a ‘devastating loss.’… One unidentified source who was said to be close with the president even went as far as to slam Plouffe as a ‘sanctimonious a**’ to Fox News… Yet those closest to Biden have instead pointed the finger at former Speaker of the House Nancy Pelosi. They hold her responsible for pushing Biden out of the race… ‘Bidenworld’ sources have also argued that if he had stayed in the race, he would have won the white working-class voters who largely voted for Trump. https://t.co/3HYJ5n9wnp
@selinawangtv: Pelosi to the NYT: “had the president [Biden] gotten out sooner, there may have been other candidates in the race.” “The anticipation was that, if the president were to step aside, that there would be an open primary. And as I say, Kamala may have, I think she would have done well in that and been stronger going forward. But we don’t know that. That didn’t happen. We live with what happened. And because the president endorsed Kamala Harris immediately, that really made it almost impossible to have a primary at that time. If it had been much earlier, it would have been different.”
@ClayTravis: Imagine having a billion dollars more to spend on your campaign than your opponent, 95% of all media running propaganda for you, and still losing voters in every state compared to 2020. Because that’s what Kamala just did. It’s honestly staggering.
Jessie Waters claims Team Obama-Harris paid Oprah $1 million to interview her, and Harris spent $100,000 building the set of the Call Her Daddy podcast so she wouldn’t have to fly out to LA to film it. https://x.com/DefiyantlyFree/status/1855156362965033151
Dems at War Over Secret SCOTUS Plot to Oust Sotomayor The Democratic Party is secretly fighting over whether to try and force out Justice Sonia Sotomayor to avoid the specter of Donald Trump sending the U.S. Supreme Court further to the right… Although she is only 70, Sotomayor suffers from Type 1 diabetes and is the oldest of the three remaining Democratic Party-appointed justices… The chief obstacles are the timeline and the lack of senators prepared to put their heads above the parapet and suggest Sotomayor should step aside for the sake of the movement… https://www.thedailybeast.com/dems-at-war-over-secret-scotus-plot-to-oust-sotomayor/
After blaming Biden for Harris’s defeat for days, Team Obama-Harris now want Joe to appoint Kamala to the SCOTUS or resign so Harris can become the 1st female POTUS! (Harris advisor Jamal Simmons)
@JackPosobiec: Kamala has not spoken to either Obama. Her team has been reaching out but no one on Obama’s team is calling or texting back, per WH official.
@bennyjohnson: Trump’s lawyer Mike Davis (and US AG candidate) issues dark warning to NY AG Letitia James: “I dare you to try to continue your lawfare against President Trump… listen here, sweetheart, we’re not messing around this time and we will put your fat ass in prison for conspiracy against rights.”https://t.co/FfGGxzsaq6
Ex-DoJ official @JeffClarkUS: Let’s compare Old Barr and New Barr: Old Barr said Trump was likely “toast” over the “solid,” “very damning” Jack Smith documents case indictment. That’s the clip on the left. New Barr (trying to curry favor with Trump and return to his good graces) says that all of the federal cases against Trump are “weak” and were “climbed out on a limb.” That’s the clip on the right. See how this works? This is how much of DC works. Supposed experts and turncoats give silly predictions for political reasons. And then later pretend they never predicted what they’d originally predicted. (Reminiscent of 1984’s “we’ve always been at war with East Asia” revisionism.) Why does Fox keep putting Barr on? He speaks with forked tongue. https://x.com/JeffClarkUS/status/1854580410870644969
FBI Whistleblower @RealStevefriend: Moles inside the FBI are telling us that DOZENS of senior executives at HQ are preparing their retirement papers in anticipation of what’s to come.
@America1stLegal: Our investigation has revealed that Senate staff appear to have shared sensitive FBI background investigation reports on nominees for Senate confirmation in beach of security protocols. The background investigation process is broken and corrupted: https://x.com/America1stLegal/status/1854595327279391199
@Congressman_JVD: Democrats weaponized the Department of Justice and destroyed public trust. A new administration does not stop our work to hold them responsible for it. Accountability is coming. Shady Dem lawyer behind Steele Dossier looking to overturn Pennsylvania Senate results Marc Elias, a longtime Democratic election attorney and dirty trickster, is attempting to force the Pennsylvania Senate race into a recount, even though it was called for McCormick by the Associated Press on Thursday, with even the state’s most liberal news outlets echoing the call since… https://trib.al/4NMSUrr
@NBCPolitics: Though Democrats have long hoped that Texas will turn blue, it’s actually redder in 2024 than it was almost a decade ago when President-elect Trump first ran for president. https://x.com/NBCPolitics/status/1854999573506228561
Michael Cohen Mocked with Turkey Filter During Angry Livestream “I don’t appreciate it, I don’t like the stupid Turkeys!” Turncoat Michael Cohen, who vowed to leave the United States if Trump won the election, was hilariously mocked during a livestream when viewers kept imposing a turkey filter over his head… During a livestream after the election, Cohen angrily asserted that he had changed his mind and would now be staying in America… However, the funniest part of the clip is that viewers kept using an Instagram filter of a Turkey and superimposing it over Cohen’s head. Cohen seemingly didn’t know how to turn the filter option off and became increasingly irate at being mocked… https://modernity.news/2024/11/08/michael-cohen-mocked-with-turkey-filter-during-angry-livestream/
@kevinnbass: Yale psychiatrist Amanda Calhoun, a medical doctor and mental health expert, advises MSNBC viewers to break off ties with family members who voted for Trump and refuse to see them on the holidays. (The Ivy League continue to debase itself and its value with professors like this!) https://x.com/kevinnbass/status/1855066395916067150
@CollinRugg: Professor Eddie S. Glaude Jr. (Princeton) has mental breakdown on MSNBC, says Trump won because white children aren’t in Cheerios commercials anymore… (Why pay Ivy tuition for this?) “You are telling me that all of these people who believe that bread is too high and eggs are too high, that they voted for a convicted felon?”https://x.com/CollinRugg/status/1855262747799462332
Since Trump won, social media has been saturated with people (mostly women, but also male talk show hosts and some MSM reporters) hysterically crying, cursing, shaving their hair, and threatening violence. It’s one thing to have these responses in private or to friends & family, but it’s a different dynamic to record apparent behavior and vile threats of violence to display them on social media. Teachers, healthcare workers, and others are losing jobs over their unhinged social media posts! These people should NOT be mocked; they seriously need professional help.
Women protesting Trump’s win are starting a movement to get women to avoid dating, marrying, or have sexual contact with men. MAGA types retort: ‘That’s a great way to reduce the liberal gene pool!
@DavidSacks: Ukraine is the Deep State’s laundry machine. From there to anywhere. Trump was impeached in his first term for just asking about it.
MSM types and other Dems now want to create a Dem/leftist Joe Rogan! First, Rogan is a Dem and still leans left. Secondly, ‘they’ said the same thing about Rush Limbaugh and conservative talk radio. But few people tuned into leftist radio shows – because they already get those messages via the MSM! @ClayTravis: Jenn Psaki says no one cares about never Trump Republicans and MSNBC gives them way too much attention. Ha. Only took nine years for Dems to realize this: https://t.co/evp72GTqjz
@DDFStrand: When journalism was blue collar dudes holding the powerful accountable it was reporting the facts. When the upper class took over journalism it became a means of conforming public views to their own worldview.
The ‘Fredo’ of the Pritzker family has challenged Trump on deporting illegal immigrants.
@its_The_Dr: Governor JB Pritzker (IL-D) threatens President Trump on illegal immigrants: “I want to remind you that a happy Warrior is a Warrior. You come for my people, you come through me.” (‘Happy Warrior?!?!’ JB struggles to tie his shoes!) https://t.co/bKpGGz5ott
@VigilantNews: Bill Maher Delivers a Brutal Wake-Up Call to Democrats, Exposing One of Their Biggest Problems – “You’re brats, and you’re snobs, and people don’t like that.”… https://x.com/VigilantNews/status/1855101025977278746
@CollinRugg: Dem influencers are seeing record numbers of subscription cancelations along with a mass exodus of followers causing an “algorithmic de subscription spiral.” The development comes after many of these influencers gaslit their followers into thinking Harris would win.
@Roostersbak: The secret service team that was at Butler, PA should be assigned to Barak Obama as his permanent detail. Since democrats never fired any of them Obama should feel safe with them.
Videos of mostly B & C-list Hollywood celebrities calling Trump ‘an illegitimate president’ and other slurs appeared over the weekend on social media. Didn’t the MSM and Dems spend four years calling this behavior ‘a threat to democracy’ and an ‘insurrection?’ By ‘their’ rules, shouldn’t these people be canceled, deplatformed, and have their bank accounts closed, etc.?
Entertainment celebs are doubly irate about DJT’s landslide election because it shows their smug self-importance is myth and average Americans don’t care what they think or believe.
@Curiousityfirst: Just for added measure, Arizona had a total of 463K voters without a “gender”, of which 351K returned ballots. Maricopa had 292K of which 200K returned a ballot. Pima had 60K or which 108K returned a ballot. That’s right, 178% return rate.https://x.com/Curiousityfirst/status/1855036851566137506 @laralogan: This is obviously fraud… C’mon – it is right in our faces. The steal is not credible at all. @TomFitton: What is happening in Maricopa County right now is election corruption.
@JDVance: One of the most important skills I see in successful (and good) people is to constantly reevaluate assumptions. They make predictions based on various inputs, some of them unknown, and reevaluate based on what they got right and wrong. They trust people not because they’re always right–no one is–but because if you’re constantly seeking the truth it’s easy to identify those who are doing the same…
FEMA Official Removed After ‘Avoid Trump Houses’ Message Leaks, DeSantis Orders Investigation
Friday, Nov 08, 2024 – 09:20 PM
An official with the Federal Emergency Management Agency was “removed from their role” and is under investigation after the Daily Wire obtained a leaked internal message in which they ordered workers to bypass the homes of Trump supporters as they surveyed the damage caused by Hurricane Milton in Florida.
In the leaked message, a FEMA supervisor told workers to “avoid homes advertising Trump” as they canvassed Lake Placid, Florida to find residents who may qualify for federal aid.
The supervisor, Marn’i Washington, told workers both verbally and in a group chat to avoid Trump supporters’ homes, multiple government officials told the Daily Wire.
“When we got there we were told to discriminate against people. It’s almost unbelievable to think that somebody in the federal government would think that’s okay,” one of the employees told the outlet, adding that it was wrong to discriminate against Trump supporters when they were at their “most vulnerable.”
“I volunteered to help disaster victims, not discriminate against them,” said the employee. “It didn’t matter if people were black, white, Hispanic, for Trump, for Harris. Everyone deserves the same amount of help.”
The guidance came as the Biden administration was criticized over its sluggish response to Hurricane Helene in rural areas across the country. In Roan Mountain, Tennessee, for example, locals told The Daily Wire it took nearly two weeks for FEMA to show up. The town is located in Carter County, which voted 81% for Trump on Tuesday.
The FEMA agents ordered not to help houses with Trump signs were operating in Highlands County, a deep-red area located in south central Florida that backed Trump by 70% on Tuesday. It was hit with tornadoes, torrential wind and rain, and flooding when Milton hit in October. -Daily Wire
“The blatant weaponization of government by partisan activists in the federal bureaucracy is yet another reason why the Biden-Harris administration is in its final days,” DeSantis wrote on X. “New leadership is on the way in DC, and I’m optimistic that these partisan bureaucrats will be fired.”
FEMA, meanwhile, has “removed” Washington “from their role” within the agency.
Former Wall Street money manager Ed Dowd is a skillful financial analyst who said in May the economy was skidding. Now, Dowd predicts the economy is poised to “roll over” and soon. Why is the Fed cutting rates with a record high DOW? Maybe they see the same thing he does. Dowd explains, “Real weekly wage growth was minus 2% going into the election. It is also interesting to know that minus 2% number of wage growth was also in 1980 when Ronald Reagan won in a landslide and also in 1992 when Bill Clinton won in a landslide. . . . I have never seen such blatant manipulation of government statistics. There is government spending and government hiring to paper over what is truly a bad economy for the average man. When I was asked prior to the election who do you think will win the election, I said Trump has already won, according to the economic statistics. That’s why he won. Bobby Kennedy helped along with Elon Musk, Joe Rogan, lots of people switching and what have you. What really got Trump in was the economy, the real economy, not the stock market. It was not the ‘everything is hunky-dory’ pablum from the mainstream media. The real economy has been rolling over, and we are just waiting for the financial markets to figure this out. When they do, Trump is going to inherit a turd of a financial market crisis. Government statistics will be updated, and it will show we started a recession sometime this year. . . . The incoming Trump Administrating has to get out in front of the narrative. This was already baked into the cake. They just got handed fraudulent books. So, they are basically going to get blamed for what is coming. They have to get in front of the narrative and talk about what they were handed. They need to talk about how the stock market is not a real indicator of economic health like it was before the days of raw manipulation.”
The other big problem that Trump needs to get in front of is the CV19 bioweapon vax disaster. Dowd says, “We have been monitoring and tracking excess deaths, disabilities and injuries such as heart attacks, neurological problems, cancers and liver issues. There is a whole host of issues that have gone off the charts since the introduction of the Covid vaccines. As of 2023, there was about 1.2 million excess deaths in the US. There were about four million disabilities and about 32 million injured. . . . Our calculations, conservatively speaking, are 8 million to 15 million dead globally, 40 million to 60 million disabled and 500 million to 900 million injured where their immune system is so compromised that they are getting sick all the time. You’ve got to think about it as a funnel. Most of the numbers are injured, and then the next level down are disabled and then dead. People can funnel down from one category to the next. We have a problem here because we have 10% to 13% excess mortality currently running. . . . We are running once in 200 year flood numbers in 2024. . . . This is not over. It is going to stay with us for decades. The way to mitigate that is there needs to be national awareness so people can treat the problems they have. This is the biggest healthcare failure we have ever seen. We need to pull the mRNA vaccines and have a global truth moment. . . .We continue to go along with a wink and a nod to pretend there is not a problem. We are not going to talk about Covid and the mRNA vaccines, and in my mind, this is unethical, immoral and criminal.”
Dowd also talks about the US dollar that is not going away anytime soon, gold that is topping out –for now and how we need to deal with massive amounts of debt.
I enjoy the topics you cover and though I disagree with your pro-Israel stance I usually skip past those articles.
Re the Maccabi “supporters” (including Mossad provocateurs) in Amsterdam: surely even someone that supports Zionism can admit that the Maccabi fans instigated the fights/unrest.
That Palestinians resist Israel/United States for repressing, colonialising & murdering them is no justification to CONTINUE to murder them.
Israel is not a victim state it is a colonial, aggressor state hellbent on fomenting violence in West Asia for US strategic reasons. Any sane Israeli can see and admit that.
How about you apply the same rational thought to the politics of Israel as you do to the monetary system?
The S-200 missile system is displayed during the Iranian defence week, in a street in Tehran, Iran, September 24, 2024. (credit: MAJID ASGARIPOUR/WANA (WEST ASIA NEWS AGENCY) VIA REUTERS)Netanyahu’s relationship with US presidents 
harveyorganblog.com 
Firstly, thanks for the blog.
I enjoy the topics you cover and though I disagree with your pro-Israel stance I usually skip past those articles.
Re the Maccabi “supporters” (including Mossad provocateurs) in Amsterdam: surely even someone that supports Zionism can admit that the Maccabi fans instigated the fights/unrest.
Bombing Gaza – basically a large (fenced) concentration camp, hospitals, universities, childcare facilities, tower blocks, “safe zones”, makeshift camps, homes, markets, etc
is GENOCIDE.
That Palestinians resist Israel/United States for repressing, colonialising & murdering them is no justification to CONTINUE to murder them.
Israel is not a victim state it is a colonial, aggressor state hellbent on fomenting violence in West Asia for US strategic reasons. Any sane Israeli can see and admit that.
How about you apply the same rational thought to the politics of Israel as you do to the monetary system?
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