GOLD PRICE CLOSED DOWN $12.90 TO $2567.90

SILVER PRICE DOWN $0.07 TO $30.47

Gold ACCESS CLOSED $2568.30

Silver ACCESS CLOSED: $30.50

Bitcoin morning price:$91,164 UP 187 DOLLARS.

Bitcoin: afternoon price: $87907 down 3070 DOLLARS

Platinum price closing up $5.50 TO $939.00

Palladium price; up $3.70 TO $941.15

END

*CANADIAN GOLD: $3610.09 UP 5.00 CDN dollars per oz( * NEW ALL TIME HIGH 3,872.51 CDN DOLLARS PER OZ//OCT 30 2024)

*BRITISH GOLD: 2028.65 UP 2.69 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2148.36 BRITISH POUNDS/OZ) OCT 30/2024

*EURO GOLD: 2,441.12 UP 4.40 Euros per oz //* (ALL TIME CLOSING HIGH: 2565.55 EUROS PER OZ//OCT 30 //.2024)

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END

EXCHANGE;

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,580.800000000 USD
INTENT DATE: 11/13/2024 DELIVERY DATE: 11/15/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

190 H BMO CAPITAL 3
363 H WELLS FARGO SEC 1
905 C ADM 4

---

TOTAL: 4 4

JPMorgan stopped 0/4

GOLD: NUMBER OF NOTICES FILED FOR NOV/2024. CONTRACT: 4 NOTICES FOR 400 OZ  0.0124 TONNES

total notices so far: 2552 contracts for 255200 Oz (7.938 tonnes)

FOR  NOV

SILVER NOTICES: 4 NOTICE(S) FILED FOR 20,000 OZ/

total number of notices filed so far this month : 878 for 4.370 million oz

XXXXXXXXXXXXXXXXXX

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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 $12.90 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD:

HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.91 TONNES OF GOLD FROM THE GLD./

/ /INVENTORY RESTS AT 868.62 TONNES

INVENTORY RESTS AT 868.91 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER DOWN $0.07 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY OUT OF THE SLV: A WITHDRAWAL OF 1,504,000 OZ OUT OF THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 473.653 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI SURPRISINGLY FELL BY A SMALL SIZED 299 CONTRACTS TO 147,227 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SMALL SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR LOSS OF $0.16 IN SILVER PRICING AT THE COMEX WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A HUGE GAIN OF 1045 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS OF $0.16  IN PRICE. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS ON WEDNESDAY COMEX TRADING AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S CONTINUAL PRICE RISE FOR THE PAST 2 WEEKS AND FINALLY SUCCEEDED WITH THEIR CONTINUAL RAIDS..

WE HAD A   HUMONGOUS 1280 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A MEGA HUMONGOUS 5034 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 GAINED A HUMONGOUS 981 CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSS IN PRICE. WE HAD MAJOR TAS LIQUIDATION THROUGHOUT MONDAY THROUGH WEDNESDAY’S COMEX SESSIONS.

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 YESTERDAY 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 WEDNESDAY NIGHT: A MEGA HUMONGOUS 5034 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 TODAY. 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 $0.16) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUMONGOUS NET GAIN OF 1065 CONTRACTS ON OUR TWO EXCHANGES. 

WE HAD A HUGE 1280 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 25,000 OZ E.F.P TRANSFER TO LONDON//NEW STANDING LOWERS TO 4.510 MILLION OZ

// STANDING FOR SILVER//NOV AT 4.510 MILLION OZ

WE HAD:

/ SMALL SIZED COMEX OI LOSS//HUMONGOUS SIZED EFP ISSUANCE/ VI) MEGA HUMONGOUS SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 5034 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED A SMALL 64 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 10 DAYS, total 14,070 contracts:   OR 70.350 MILLION OZ  (1407 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  70.35 MILLION OZ

LAST 24 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. 70.35 MILLION OZ (WILL BE HUGE THIS MONTH)

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 299  CONTRACTS WITH OUR LOSS OF $0.16 IN PRICE OF SILVER PRICING AT THE COMEX//WEDNESDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS: 1250 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 25,000 OZ EXCHANGE FOR PHYSICAL TRANSFER TO LONDON TO TAKE DELIVERY OVER THERE.

//NEW TOTAL STANDING FOR NOV AT 4.510 MILLION OZ 

WE HAVE A HUMONGOUS SIZED GAIN OF 981 OI CONTRACTS ON THE TWO EXCHANGES DESPITE OUR LOSS IN  PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A MEGA HUMONGOUS SIZED 5034 CONTRACTS TRYING DESPERATE TO CONTAIN SILVER’S PRICE RISE,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION THUS THE NEED FOR REPLENISHMENT AND THAT IS WHAT THEY DID IN A BIG WAY TODAY!

/ ZERO NET SHORT COVERING FROM OUR SPEC SHORTS WITH THE LOSS IN PRICE WEDNESDAY/ . 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 WEDNESDAY NIGHT   (5034) 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 4 NOTICE(S) FILED TODAY FOR 0.020 MILLION OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 5262 OI CONTRACTS  TO 541,243 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: ADDED A REMOVED 597 CONTRACTS//

WE HAD A STRONG SIZED INCREASE  IN COMEX OI (5262 CONTRACTS) OCCURRED WITH OUR  LOSS OF $19.30 IN PRICE WEDNESDAY. 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 3400 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 10.463 TONNES

NEW STANDING FOR NOVEMBER: 10.357 TONNES

/ ALL OF THIS HAPPENED WITH OUR $19.30 LOSS IN PRICE  WITH RESPECT TO WEDNESDAY’S COMEX RAID///. WE HAD A STRONG GAIN OF 10,268 OI CONTRACTS (31.93 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 QUEUE JUMP OF 3400 OZ)

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 5006 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 541,243

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 10,268 CONTRACTS  WITH 5262 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 5006 EFP OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 10,268 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA MEGA HUMONGOUS SIZED AND CRIMINAL 34,553 CONTRACTS ISSUED AND THIS IS THE FIFTH DAY IN A ROW FOR A MEGA ISSUANCE OF GREATER THAN 30,000 T.A.S. CONTRACTS. WE HAD HUGE LIQUIDATION OF T.A.S CONTRACTS WITH OUR LOSS IN PRICE MONDAY THROUGH WEDNESDAY AS THE NEED FOR REPLENISHMENT WAS GREAT IN ORDER TO CARRY OUT ITS RAID OPERATIONS AND IT CONTINUED ON TODAY.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5034 CONTRACTS) ACCOMPANYING THE STRONG SIZED INCREASE IN COMEX OI OF 5262 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 10,865 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 3400 OZ QUEUE JUMP 

//NEW STANDING NOVEMBER: 10.463 TONNES 

 / 3) HUGE T.A.S. LIQUIDATION (TRYING TO LOWER GOLD’S PRICE WITH GREAT SUCCESS MONDAY THROUGH WEDNESDAY AS WELL AS TODAY. THE TAS ISSUED IS USED TO CONTAIN GOLD’S RISE. WE HAD ZEDRO NET LONG SPECS BEING CLIPPED. STICKY GOLD’S LONGS HOWEVER ARE NOT FOOLED BY THE RAID AS THEY WERE REWARDED MONDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL.

  4)  STRONG SIZED COMEX OPEN INTEREST INCREASE 5)  STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///MEGA MEGA HUMONGOUS T.A.S.  ISSUANCE: 34,553 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: 68,337 CONTRACTS OF 6,833,700 OZ OR 212.56 TONNES IN 10 TRADING DAY(S) AND THUS AVERAGING: 6833 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 10 TRADING DAY(S) IN  TONNES  212,56 TONNES

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

THUS EFP TRANSFERS REPRESENTS  212.56 DIVIDED BY 3550 x 100% TONNES = 5.97% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

 FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:.   276.50 TONNES (STRONG AGAIN/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH/2022:  409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023:    228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST:  195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV.   239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS  2578 TONNES LAST YEAR

JAN ’24:     291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)

FEB’24: 201.947 TONNES

MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.

APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)

MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.

JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS

JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III) 

AUGUST: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.

SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END UP WITH THE 3RD HIGHEST ISSUANCE EVER RECORDED.

OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)

NOV: 212.56 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 SMALL SIZED 299 CONTRACTS OI  TO 147,227 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  6 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 1280 CONTRACTS

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

DEC 1280 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1280 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 299   CONTRACTS AND ADD TO THE 1280 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1981 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 4.905 MILLION OZ OCCURRED DESPITE OUR  $0.16 LOSS  IN PRICE  

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

THURSDAY MORNING WEDNESDAY  NIGHT

ASIA TRADING/THURSDAY MORNING/WEDNESDAY  NIGHT

SHANGHAI CLOSED DOWN 59.64 PTS OR 1,73%

//Hang Seng CLOSED DOWN 387.64 PTS OR 1.93%

// Nikkei CLOSED DOWN 1875.96 OR 0.48%//Australia’s all ordinaries CLOSED UP 0.34%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2407 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2493// Oil UP TO 68.81 dollars per barrel for WTI and BRENT UP AT 72.68 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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 5,262 CONTRACTS TO 541,243 DESPITE OUR STRONG LOSS IN PRICE OF $19.30 WITH RESPECT TO WEDNESDAY’S TRADING. , WE LOST ZERO NET IN NUMBER LONGS DESPITE THE LOWER PRICE FOR GOLD AS YOU WILL SEE BELOW. WE HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (5006).

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 93+ 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 YESTERDAY, AND THEIR FAILURE TO STOP CENTRAL BANK PURCHASES OF PHYSICAL GOLD IS THE MAJOR ISSUE OF THE DAY! ACTUALLY THE FED HAS COAXED THE SPECULATORS TO GO MASSIVELY SHORT WHILE THEY TAKE THE LONG SIDE AFTER THEY COMMENCE THE AVALANCHE IN LOWERING PRICE OF GOLD

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, MONDAY THROUGH WEDNESDAY..

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 STRONG SIZED 5006 EFP CONTRACTS WERE ISSUED: :  /DEC  5006 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5006 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 10,268 CONTRACTS IN THAT 5006 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG SIZED GAIN OF 5262 COMEX  CONTRACTS..AND THIS STRONG GAIN  ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $19.30 WEDNESDAY// 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 WEDNESDAY NIGHT, A MEGA MEGA SIZED 34,553 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). THIS IS THE FIFTH CONSECUTIVE 30,000 + DAY ISSUANCE OF T.A.S BY THE CROOKS. HOPEFULLY THIS SHOULD BE THE LAST HUGE T.A.S ISSUANCE. ON TWO PREVIOUS OCCASIONS, WHEN OUR BANKERS ORCHESTRATED A MASSIVE CONTINUOUS RAID ON OUR PRECIOUS METALS, IT LASTED 5 DAYS.

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 THIS WEEK’S CONTINUOUS RAIDS.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   NOV (10.463 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

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK   = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK =  51.707 TONNES

TOTAL 2023 YEAR : 436.546 TONNES

2024

JAN ’24.      22.706 TONNES

FEB. ’24:  66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES

APRIL: 2024: 53.673TONNES FINAL

MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/PRIOR= 11.9325

JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

JULY: 11.692 TONNES

AUGUST 69.602 TONNES//FINAL STANDING

SEPT. 13.164 TONNES.

OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK PRIOR =60.391 TONNES

NOV . 10.463 TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $19.30/)//BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES. WE DID HAVE HUGE T.A.S. SPREADER LIQUIDATION MONDAY THROUGH WEDNESDAY AND AGAIN TODAY AS THE NEED FOR REPLENISHMENT WAS IN FULL FORCE. THIS COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL WEDNESDAY EVENING

WE HAVE GAINED A TOTAL OF 31.93 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR NOV (2.488TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S STRONG QUEUE JUMP OF 34 CONTRACTS OR 3400 OZ (0.1057 TONNES). THESE GUYS UNDERWENT A 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 93 TONNES

//NEW STANDING FOR NOV 10.473 TONNES

NEW STANDING FOR NOVEMBER: 10.363 TONNES (WHICH FOR A NON ACTIVE DELIVERY MONTH)

ALL OF THIS WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE  TO THE TUNE OF $19.30

WE HAD 597 CONTRACTS ADDED TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 10,268 CONTRACTS OR 1,026,800OZ (31.93 TONNES)

confirmed volume THURSDAY 345,108 contracts STRONG //// t.a.s. enhanced

//speculators have left the gold arena

END

NOV 14 NOV  GOLD CONTRACT

/ /// THE NOV 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	11,854.57 oz 29 good London delivery bar leaves London vault. jpmorgan enhanced           .
Deposit to the Dealer Inventory in oz	NIL
Deposits to the Customer Inventory, in oz	81,985.05 OZ BRINKS 2550 KILOBARS 400.835 oz JPMorgan 1 London good delivery bar total 82,385.835 oz
No of oz served (contracts) today	4 notice(s) 400 OZ 0.0124 TONNES
No of oz to be served (notices)	812 contracts    81,200 OZ 2.525 TONNES
Total monthly oz gold served (contracts) so far this month	2552 notices 255,200oz 7.938 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

into Brinks 81,985.05 oz (2550 kilobars)

into JPMorgan enhanced (from London)

1 good London delivery bar: 400.835 oz

total deposits 82,385.835 oz 

withdrawals: 1

i) Out of London/JPMorgan enhanced: 11,854.570 oz

or 29 London good delivery bars leaves London England vaults

TOTAL WITHDRAWALS: 11,854.570 oz

adjustments: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOV.

For the front month of NOV: we have an oi of 816 contracts having GAINED 34 contracts. We had 0 contracts served on WEDNESDAY so we gained 34 contract as these guys underwent a STRONG queue jump of 3400 oz (0.1057 TONNES OF GOLD)

DECEMBER, THE BIGGEST DELIVERY MONTH LOST 14,450 CONTRACTS TO 266,807

JANUARY GAINED 7 CONTRACTS TO STAND AT 351

FEBRUARY GAINED 16,844 CONTRACTS TO 200,120 .

We had 4 contracts filed for today representing 400 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 4 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 0 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for NOV /2024. contract month, we take the total number of notices filed so far for the month (2552 x 100 oz ) to which we add the difference between the open interest for the front month of  NOV(816 CONTRACTS)  minus the number of notices served upon today  (4 x 100 oz per contract( equals  336,400 OZ  OR 10.463 TONNES.

thus the INITIAL standings for gold for the NOV contract month:  No of notices filed so far (2552 x 100 oz +we add the difference for front month of NOV  (816 OI} minus the number of notices served upon today (0 x 100 oz which equals  336,400 oz (10.463 TONNES)  +

TOTAL COMEX GOLD STANDING FOR NOV.: 10.463 TONNES WHICH IS HUGE FOR THIS  NON ACTIVE DELIVERY MONTH IN THE CALENDAR. 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 1,630,255.223  oz 50.71 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  17,488,407.82 OZ  

TOTAL REGISTERED GOLD 7,829,907.182/// 243.54tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,658,500.460 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,199,652 oz (REG GOLD- PLEDGED GOLD)= 182.84 tonnes //

END

SILVER/COMEX

NOV   14. 2024

INITIAL

//2024// THE NOV 2024  SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	480,908.130 oz Delaware Loomis .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	610,340.190 oz HSBC
No of oz served today (contracts)	4 CONTRACT(S)    (20,000 OZ)
No of oz to be served (notices)	28 contracts  (140,000oz)
Total monthly oz silver served (contracts)	874 Contracts  (4.370 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 HSBC 610,340.198 oz

total customer deposits 610,340.198oz

We had 2 withdrawals

i) Out of Delaware 1022.600 oz

ii) Out of Loomis 579.885.53 oz

total withdrawal 580,908.130 oz

JPMorgan has a total silver weight: 134.401million oz/311.321million  or 43,04%

adjustment 1

HSBC 615,750 4.00 oz dealer to customer

TOTAL REGISTERED SILVER: 69.457MILLION OZ//.TOTAL REG + ELIGIBLE. 311.321 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR NOV

silver open interest data:

FRONT MONTH OF NOV /2024 OI: 32 OPEN INTEREST FOR A LOSS OF 5 CONTRACTS

WE HAD 0 NOTICES FILED ON WEDNESSDAY SO WE LOST 5 CONTRACTS OR 25,000 OZ UNDERWENT A EFP TRANSFER TO LONDON AS THE BOYS DECIDED THAT THERE WAS NO IMMEDIATE SILVER OVER HERE AND THUS THEY CROSSED THE POND IN THE HOPE OF GETTING SILVER OVER ON THAT SIDE OF THE POND.

DECEMBER SAW A LOSS OF 5677 CONTRACTS DOWN TO 72,376 CONTRACTS

JANUARY SAW A GAIN OF 6 CONTRACTS UP TO 1116

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 4 for 0.020 MILLION oz

CONFIRMED volume; ON WEDNESDAY 93,487 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 874x 5,000 oz = 4.370 MILLION oz 

to which we add the difference between the open interest for the front month of NOV (32) and the number of notices served upon today (4)x (5000 oz)

Thus the  standings for silver for the NOV 2024 contract month:  874 Notices served so far) x 5000 oz + OI for the front month of NOV(32) number of notices served upon today minus (4)x 5000 oz of silver standing for the NOV contract month equates to 4.510 MILLION OZ. 

 New total standing: 4.510 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 14 WITH GOLD DOWN $12.90 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.91 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 868.62 TONNES

NOV 13 WITH GOLD DOWN $19.30 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 870.63 TONNES

NOV 12 WITH GOLD DOWN $11.40 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 4.88 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 871,97 TONNE

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 876.85 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

GLD INVENTORY: 868.62 TONNES, TONIGHTS TOTAL

SILVER

NOV 14 WITH SILVER DOWN $0.07 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 1,504,000 OZ OUT OF THE SLV. /// //INVENTORY AT SLV RESTS AT 473.653 MILLION OZ

NOV 13 WITH SILVER DOWN $0.16 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 1,274,000 OZ OUT OF THE SLV. /// //INVENTORY AT SLV RESTS AT 475.157 MILLION OZ

NOV 12 WITH SILVER UP $0.16 //SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 576,000 OZ INTO THE SLV. /// //INVENTORY AT SLV RESTS AT 476.000 MILLION OZ

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

CLOSING INVENTORY 473.653 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

Peter Schiff: The Fed Is Trying To Save Itself At Your Expense

Wednesday, Nov 13, 2024 – 09:45 PM

Authored by Peter Schiff via SchiffSovereign.com,

Well, inflation is up again. You’re probably not surprised, and neither are we.

Over the past few months, in fact, we’ve repeated again and again that inflation will keep rising, and even identified some strange reasons why.

Remember back during the early days of the pandemic when used car prices went through the roof? Supply chain dysfunction and stay-at-home orders prevented the big auto manufacturers from producing too many new cars. So, demand for used cars surged… and used car prices shot to the moon.

But used car prices eventually started to fall back to earth. And throughout this year, the government inflation reports showed steep drops in used car prices– like 10 to 12% year-over-year declines.

We made two key points about this:

1) The big drop in used car prices was essentially dragging down the inflation average. Other prices, like housing, medical care, etc. were still rising by 5% or more. But after averaging in the negative 10% used car price declines, the overall inflation rate seemed to be falling.

2) We also said this would be temporary. Used cars could only fall for so long before they reached ‘normal’ levels. And once that happened, inflation would start to rise again.

This appears to have now happened.

During the summer, for example, used car prices fell 10.9% year-over-year in the month of July. Then in August, the year-over-year decline decelerated to -10.4%. Then the following month to -5.1%. Well, the October data was released just this morning, and used cars index fell 3.4%.

In other words, we’re almost at the end of the ‘used car deflation’ benefit that dragged down the government’s inflation report. So, it’s no coincidence that we also see inflation once again rising, from 2.3% in September to now 2.6% in October.

And there are plenty of categories that are WAY more that 2.6%, especially the things that people buy on a regular basis. Health insurance is up 6.8%. Car insurance is up 14%. Airfare is up 4.1%. Housing costs are up 5.2%. Daycare is up 6%.

Sure, there are obviously categories where prices have fallen. And congratulations if you were in the market for a men’s sport coat last month– you paid 5.9% less. Plus, the all-important “dishes and flatware” category plunged 7.4%.

But these hardly make up for the big price hikes in the key categories that are essential to most people.

This is what makes the Fed’s policy actions so bizarre.

Last week they cut rates, again, for the second time this cycle… which is the OPPOSITE of what a central bank would normally do in the face of rising inflation.

In the same way that they pretended inflation was “transitory” throughout 2021, they are now asserting with equal vigor that the inflation beast has been tamed.

They’re so full of self-congratulatory hubris, in fact, that Fed Chairman Jerome Powell stated that he will refuse to step down if Donald Trump demands his resignation.

Bear in mind, Powell is the guy who totally missed inflation in 2021. I mean, he was MISTER Transitory. He failed to act in a timely manner and waited until mid-2022 to start hiking rates in earnest. He then failed to predict any negative consequences from the rate hikes– including the meltdown in the US banking system.

Powell even testified before Congress– just TWO DAYS before Silicon Valley Bank went bust last year– that he saw “nothing in the data” to suggest there were any risks to the Fed’s monetary policy decisions.

I would also point out that during Powell’s chairmanship, two of the most senior Fed officials were found to have been personally profiting from their monetary policy decisions through questionably timed stock trades. It was almost as if Nancy Pelosi was running the joint.

So, Powell– who has been consistently wrong in the most remarkable ways– now insists that he will NOT step down. Apparently, HE and HE ALONE can lead the Federal Reserve. And we’ve seen that arrogance before from Joe Biden, Tony Fauci, etc. It’s not a good look and doesn’t bode well for the Fed.

All that aside, it’s pretty clear that the Fed is in a bind. Inflation is rising, so they should realistically hike rates. But interest rates– even at current levels– are killing the federal government.

The US spent an unbelievable $1.1 trillion in the last fiscal year paying interest on the national debt. That will almost certainly increase for this current fiscal year. And if rates stay where they are now, the total interest bill will exceed $2 trillion in a few years.

That’s a pretty bad situation considering that interest rates are still relatively cheap on a historical basis.

But it’s not just the federal government. Current interest rates are also bad for banks.

Remember that banks across the United States bought mountains of Treasury bonds during the pandemic– at a time when interest rates were at record lows, and those bonds yielded as little as 5 basis points (i.e. 0.05%).

Thanks to the Fed’s interest rate hikes, those banks’ bond portfolios have tanked in value. (When interest rates go up, bonds lose value.) In fact, across the entire US banking system, the total unrealized bond losses exceed $500 BILLION. That’s about 20% of the total capital in the US banking system.

Naturally banks don’t want to take that hit. And the only way to unwind those losses is for interest rates to fall, i.e. the bonds once again increase in value. So, yeah, banks desperately want rate cuts too.

But the most important one is the Fed itself.

Just like banks across the country bought US government bonds during the pandemic, the Federal Reserve bought literally TRILLIONS of dollars of bonds. And their interest rate hikes have caused unbelievable losses to the Fed’s own bond portfolio.

How big are their losses? Roughly ONE TRILLION dollars.

In other words, the Fed is wildly, woefully insolvent. And at this point, they’re just out for self-preservation. Cutting rates is the only way to reduce those unrealized losses and prop up their solvency, even if that means more inflation… or even stagflation that could be worse than the 1970s.

That is especially significant since, during his last press conference, Powell admitted that the Fed has no contingency plan for stagflation. They’re not even thinking about the risk. They’re just focused on saving themselves at your expense.

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

It’s the debt, stupid!

US equities are being driven by purely domestic investment flows — rejoicing over Trump’s MAGA policies is understandable. But it ignores an enormous, dangerous elephant in the room: debt!

Alasdair MacleodNov 13∙Paid

READ IN APP

History is littered with well-meaning attempts to correct an accumulation of past economic errors. The script goes like this. Common sense tells us we are heading for a crisis, unless there’s a change in economic and political philosophy. For years, we have been talking about the need for a great policy reset. There are two paths to follow: either try force the pace on change to prevent an obvious crisis which damages everyone, or to take the view that fundamental political reform can only occur after current policies have completely failed.

Essentially, Trump is a patriot trying to steer the US economy back from the brink. But he is an isolationist in a commercially integrated world, and he relies on foreigners to fund his policies. We have to look at Trumpenomics from their point of view. How do they read consumer price inflation, in the wake of extra trade tariffs? How do they read the stimulus of income and corporate tax cuts? How is it all going to be paid for?

The answer to these questions is being revealed in the chart below:

There are early signs that this bond yield is moving higher to challenge the 5% level. And it seems unlikely to stop there.

It is dawning on bond markets that Trump’s plans can only be funded at higher interest rates and bond yields, and that’s before we consider second order consequences. There is little doubt that his policy clone of the Smoot-Hawley Tariff Act of 1930 will plunge the global economy into recession — or worse. On this basis alone, Trump’s assumption that his proposed tariffs will pay for income and corporation tax cuts should be dismissed. Furthermore, a global recession will drive the US into recession/depression as well. Remember Smoot-Hawley, and don’t ignore the real prospect of retaliatory tariffs by other nations.

Trump’s autarkic economic policies will hasten the collapse of global supply chains, which is already their direction of travel. They will lead to the end of free trade. They will probably be only Round One in a new tariff war. While Federal budgets will face escalating welfare commitments, revenues will fall far short of expectations — the deficit is set to soar.

Far from avoiding a Bidenomics socialist calamity, Trumpenomics will bring forward its own crisis.

This is how foreigners tend to see the consequences of Trump’s election. And it couldn’t come at a worse time, with all G7 nations bar possibly Germany in their own debt crises. And even Germany depends for its currency in common with its indebted neighbours. Furthermore, with half the world trying to distance itself from the dollar, the value of US Government debt is demonstrably far too high. Foreigners are not going to fund it anything like these yields.

It is a plain fact that the US Government is already in a debt trap, whereby its debt obligations are growing at a far faster pace than nominal GDP, which represents its ability to cover its debt. Britain faced this problem in 1975-1976, when the IMF was called in to take economic policy out of the hands of its government in the wake of a sterling crisis. Gilt yields soared to over 15%. There is no one able to rescue the US from its debt crisis — the IMF is its subsidiary organisation and it would be a stretch of imagination to expect a child to rescue its parent.

Sooner or later, the current euphoria over Trump and his economic policies will give way to reality. Reality will be reflected in a prospective collapse of US Government finances because foreigners will not only refuse to fund its soaring debt, but will increasingly sell fiat dollars for gold, which is real money without counterparty risk.

Increasingly, foreign central banks and government wealth funds are already reducing their dollars and dependent fiat currencies, accumulating gold. They cannot do it fast enough. It is only a matter of very short time before the wider world understands what is happening: credit is going down, because it’s the debt, stupid!

3. CHRIS POWELL AND GATA DISPATCHES

Brien Lundin: Noose tightens on the Fed, and it’s not too late for NOLA

Submitted by admin on Wed, 2024-11-13 12:58 Section: Daily Dispatches

1p ET Wednesday, November 13, 2024

Dear Friend of GATA and Gold:

In his commentary today, Gold Newsletter editor and New Orleans Investment Conference proprietor Brien Lundin writes that the soaring debt of the U.S. government is undermining the Federal Reserve’s program of reducing interest rates even as higher debt service costs will wreck the government’s finances and those of business too.

Lundin adds that there’s still time to get into the New Orleans conference next week — its 50th anniversary conference. Your secretary/treasurer will be among the speakers, and some junior mining companies that have supported GATA will be exhibiting, including Apollo Silver, Banyan Gold, Dryden Gold, Honey Badger Silver, Power Nickel, Relevant Gold, U.S. Gold, and Western Alaska Minerals.

Next week’s weather forecast for New Orleans looks lovely, sunny with high temperatures in the upper 60s and low 70s. New Orleans and the bright future of gold and silver should be able to make almost any investor happy.

So please read Lundin’s commentary below and think urgently about joining us next week. To register visit the conference’s internet site here:

PowellGata

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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

END

ASIA TRADING THURSDAY MORNING/WEDNESDAY  NIGHT

SHANGHAI CLOSED DOWN 59.64 PTS OR 1,73%

//Hang Seng CLOSED DOWN 387.64 PTS OR 1.93%

// Nikkei CLOSED DOWN 1875.96 OR 0.48%//Australia’s all ordinaries CLOSED UP 0.34%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2407 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2493// Oil UP TO 68.81 dollars per barrel for WTI and BRENT UP AT 72.68 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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

ONSHORE YUAN:   CLOSED UP AT 7.2407

OFFSHORE YUAN: DOWN TO 7.2493

SHANGHAI CLOSED CLOSED DOWN 59.64 PTS OR 1.73%

HANG SENG CLOSED CLOSED DOWN 387.64 PTS OR 1.93%

2. Nikkei closed DOWN 185.96 PTS OR 0.48%

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX DOWN TO  106.69 EURO FALLS TO 1.0537 DOWN 27 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +1.054 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 156.00…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

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

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

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.3735 Italian 10 Yr bond yield DOWN to 3.603 //SPAIN 10 YR BOND YIELD DOWN TO 3.095

3i Greek 10 year bond yield DOWN TO 3.208

3j Gold at $2557.00.10 /Silver at: 29.90  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 25/100  roubles/dollar; ROUBLE AT 99.75

3m oil into the 68 dollar handle for WTI and  72 handle for Brent/

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 156.00  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.054% 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 0.8892 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9368  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: 4.453 DOWN 0 BASIS PTS…

USA 30 YR BOND YIELD: 4.624 DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD:  4.282 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.35…

10 YR UK BOND YIELD: 4.577 UP 5 PTS

10 YR CANADA BOND YIELD: 3.342 UP 3 BASIS PTS

5 YR CANADA BOND YIELD: 3.173 UP 3 PTS.

2a New York OPENING REPORT

Futures, Dollar Gain Ahead Of PPI, Powell

Thursday, Nov 14, 2024 – 08:20 AM

US equity futures have reversed the weakness of the prior two days and are higher, led by small caps as bond yields stabilize after the recent rout sent the 10Y yield to 4.45%. As of 8:00am ET, S&P and Nasdaq futures are up 0.1%, as investors wait to see if upcoming price data and a speech from Jerome Powell will boost expectations for a December interest-rate cut. Mag7 stocks mixed, but Semis have caught a bid after falling 6.3% over the last four sessions: as JPM puts it the pair trade of long Software vs. short Semis is +14.5% over the last 5 sessions. Treasury yields ticked lower, after Wednesday’s CPI data kept alive the hope of a December rate cut; however, Trump trades keep on trucking and the dollar index extended its rally on track for its 7th consecutive weekly gain and the strongest gain since April 2022 while Bitcoin traded at about $91,000, holding close to Wednesday’s record high. Commodities are lower but WTI is flat despite an IEA report of a more than 1 million barrel oversupply in 2025, driven by weaker Chinese demand. Today’s macro focus is on Jobless data and PPI, the latter to seek confirmation of CPI trends from yesterday. There are four Fed speakers today, including Jerome Powell himself.

In premarket trading, Cisco Systems fell after the networking company firm gave a conservative outlook, while Nu Holdings dropped after the fintech company reported third-quarter net interest income that missed consensus estimates. Disney jumped more than 10% after posting fiscal fourth-quarter sales and profit that beat Wall Street estimates and forecast earnings growth for the next three years. Here are some of the biggest US movers before the opening bell:

• Advance Auto (AAP) drops 7% after posting net sales for the quarter that missed the average analyst estimate. The company plans to close about 500 stores.
• Beazer Homes (BZH) jumps 5% after the homebuilder reported quarterly revenue that beat the average analyst estimate.
• Capri Holdings (CPRI) falls 5% and Tapestry (TPR) gains 6% after the pair ended an $8.5 billion plan to merge following a US court order freezing the deal due to antitrust regulators’ objections.
• CNH Industrial (CNH) rises 4% after David Einhorn revealed a new position in the farm equipment company.
• Harrow (HROW) sinks 21% after the eye-care pharmaceutical company reported revenue and core earnings for the third quarter that disappointed.
• Ibotta (IBTA) drops 22% after the cash-back mobile app company provided a fourth-quarter outlook that trails analyst estimates.
• Sonos (SONO) rises 5% as the home speaker company reported a largely in-line quarter as it navigates through the customer backlash over its recent app update.
• Zeta (ZETA) rises 9% after the software company announced a $100 million share buyback, setting the stock up for a rebound from two days of heavy losses following a short call.

Investors are trying to balance a picture of easing inflation and falling rates against the possibility that President-elect Donald Trump will implement hardline pledges on taxes and tariffs, reigniting price growth next year. Confirmation of a Republican election clean sweep suggests more policy leeway for Trump and limits potential curbs on his power.

“We are seeing that there is a bit more discrimination between Trump trades,” said Amelie Derambure, senior multi-asset portfolio manager at Amundi. “There is expectation that Trump’s policies will be market friendly, growth friendly, will be impacting higher inflation but not massively, deregulation is going to be good for some sectors,” she said. “The assumption is we have good, soft Trump with no big negative impact priced by markets.”

Traders’ eyes will now be on US PPI data which is expected to show headline and core producer prices rose year-over-year in October. Fed chief Jerome Powell is also due to speak later in the day.

European stocks reversed the recent rout as the Estoxx 50 advanced 1.4% over the early London session, supporting S&P futures. German industrial giant Siemens was the most significant outperformer, rising to a record high after a reassuring earnings print. France’s Alstom made a similar move, rallying on strong results. Among the biggest laggards, Merck KGaA slipped on weak sales and Stadler Rail plunged on a profit warning. Communication services and tech sectors lead gains after a pair of bullish outlooks from chip-equipment maker ASML Holding NV and German industrial giant Siemens AG, lifted the Stoxx 600 index by about 0.8% while the German DAX outperforms with a 1.2% gain. Here are the biggest movers Thursday:

• Siemens shares jump as much as 9%, hitting a record high, as analysts laud the German industrial group’s strong 4Q report, calling it a solid print amid macroeconomic challenges
• Burberry gains as much as 16% after the luxury-goods maker’s retail comparable sales for the first half surpassed expectations, with analysts particularly positive on the new CEO’s strategy
• Monte Paschi rises as much as 15% after Italy sold a 15% stake to investors including rival Banco BPM, Anima; Banco BPM meanwhile rises as much as 3.9% after buying a stake in Monte Paschi
• ALK-Abello gains as much as 8%, the most since August, after the Danish allergy drugmaker reported forecast-beating 3Q earnings, driven by solid tablet sales growth in the European market
• Alstom rallies as much as 8.1%, the most since May, with analysts viewing its results as a small beat and Citi highlighting probable relief after nervousness among investors ahead of the print
• Embracer shares rise as much as 12% as the Swedish gaming company’s plan to sell its Easybrain unit for $1.2 billion allowed analysts to look past its weak results and guidance
• 3i Group advances as much as 5.1%, the most in almost eight months, following the UK-listed private equity group’s first-half results. Analysts note the strong performance by Action division
• Stadler Rail plummets as much as 16%, the most on record and hitting a new low, after issuing a profit warning following a series of natural disasters, including floods in Valencia
• Merck KGaA shares slip as much as 2.4% to the lowest since July 19 after the German company reported third-quarter sales and earnings for the electronics business that missed estimates
• Shares in precious metals mining companies slid to two-month lows as a rallying dollar knocked gold prices lower for the fifth straight day, with bullion falling 1.2% in morning trading in Europe
• SMA Solar shares fall as much as 21% to their lowest in almost 10 years after the German renewable energy equipment manufacturer lowered its FY24 revenue and Ebitda guidance
• Capita shares drop as much as 7.8% after the outsourcing specialist was downgraded at Shore Capital. The broker sees Capita taking a hit from changes to national insurance contributions in the UK
• Swiss Re falls as much as 2.2% after the Swiss insurance group reported nine-month figures that were overall in line with pre-announced figures. The company’s Life & Health arm was a key disappointment

There was no bounce in Asia, where stock fell again, extending losses to the fifth straight session, as they were weighed by selling in Chinese shares and the region’s tech companies. The MSCI Asia Pacific index declined as much as 0.8%, with Chinese internet companies Alibaba Group and Meituan among the biggest laggards. A gauge of Chinese technology companies in Hong Kong lost more than 20% from its recent high. Chipmakers in the region also slipped, led by South Korea-based SK Hynix. Shares closed lower in mainland China and Hong Kong, where the market was open despite typhoon warnings. Investors are still watching for further measures from Chinese authorities to boost the world’s second largest economy, while monitoring President-elect Donald Trump’s cabinet appointments. In its latest steps, Beijing moved to cut taxes for homebuyers and developers. Stock benchmarks also dropped in Taiwan and Japan. Risk sentiment in the region took a hit as the dollar and US Treasury yields edged higher in Asian trading. Tencent Holdings’ shares fell 0.1% despite a 47% surge in quarterly profit and describing tentative signs of a Chinese economic bounce-back. Among other key China tech results, Meituan and JD.com are due to report later Thursday. Later this week, traders will also watch for Alibaba’s earnings, as well as Japan’s GDP figures and China’s retail sales.

Meanwhile, in FX the likelihood of so-called America-First policies has boosted the dollar more than 2% so far this month. Its gains are weighing on a raft of assets, sending gold prices near two-month lows and pushing the yen to the weakest since July, close to levels when Japanese authorities last intervened to prop up the currency. The dollar extended its rally versus major peers, follows confirmation of a Republican election sweep. Bloomberg Dollar Spot Index is up for a fifth day, 0.3% higher into early US session. The euro dropped as much as 0.5% to touch the lowest in more than a year, while MSCI’s index for emerging market currencies fell for a fifth day. USD/JPY was back above 156.

Analysts at BBH said that with Trump likely to have the wherewithal to carry out his agenda, the scope for rate cuts could be limited going forward. “Market pricing for the Fed has already adjusted, which is giving the dollar a huge lift,” they wrote, advising that “investors should continue to lean into dollar strength.”

Currently, money markets price around 19 basis points of rate cuts for December and several policymakers have urged a cautious approach. Fed Governor Adriana Kugler, for instance, said on Thursday that rate cuts should be paused if progress on inflation stalls.

In rates, treasuries are marginally richer across the curve with futures pushing higher into the early US session, unwinding losses seen at the start of Asia. The curve has held Wednesday’s sharp steepening move, which saw the biggest one-day widening move in the 5s30s spread so far this year. Treasury yields are slightly lower on the day across the curve, although remain within a couple of basis points of Wednesday’s close, while spreads broadly trade within one basis point of prior day. US 10-year yields trade around 4.44%, with bunds outperforming by 1.5bp and gilts slightly lagging in the sectoras traders added to their ECB interest-rate cut bets, boosting shorter-dated German bonds. German two-year yields fall 3 bps to 2.14%. US data includes PPI and weekly jobless claims.

In commodities, oil prices are steady, with WTI near $68.40 a barrel after the IEA said markets face a surplus of more than 1 million barrels a day next year. Spot gold falls another $26 to $2,546/oz. Bitcoin rises 3% and above $91,000.

On today’s calendar, the main event will be a speech by Fed Chair Powell on the economic outlook. A text release at 3pm New York and a Q&A session is expected. US economic data calendar includes October PPI and initial jobless claims (8:30am). Fed speaker slate includes Kugler (7am), Barkin (9am), Powell (3pm) and Williams (4:45pm).

Market Snapshot

• S&P 500 futures little changed at 6,021.25
• STOXX Europe 600 up 0.5% to 504.25
• MXAP down 0.8% to 181.24
• MXAPJ down 0.8% to 574.03
• Nikkei down 0.5% to 38,535.70
• Topix down 0.3% to 2,701.22
• Hang Seng Index down 2.0% to 19,435.81
• Shanghai Composite down 1.7% to 3,379.84
• Sensex down 0.2% to 77,554.04
• Australia S&P/ASX 200 up 0.4% to 8,223.95
• Kospi little changed at 2,418.86
• German 10Y yield little changed at 2.40%
• Euro down 0.4% to $1.0520
• Brent Futures down 0.2% to $72.16/bbl
• Gold spot down 1.0% to $2,546.97
• US Dollar Index up 0.38% to 106.88

Top Overnight News

• USD strength piled more pressure on Asian stocks and currencies, with the yen slipping to its lowest level since July. Fears of imminent intervention are overstated, MLIV said. China supported the yuan for a second day. BBG
• The BOJ should raise interest rates at least to 1% to roll back an “abnormally” huge stimulus that is causing unwelcome falls in the yen, said Takeshi Shina, the shadow finance minister of the country’s largest opposition party. Reuters
• A close aide to Prime Minister Benjamin Netanyahu told Donal Trump and Jared Kushner this week that Israel is rushing to advance a cease-fire deal in Lebanon, according to three current and former Israeli officials briefed on the meeting, with the aim of delivering an early foreign policy win to the president-elect. Washington Post
• Ukraine sovereign bond values spike as investors anticipate the incoming Trump administration will push for a quick end to the war. FT
• Global oil markets face a huge surplus of more than 1 million barrels a day next year on faltering Chinese demand, and even with the curtailed supply from OPEC+, the IEA said. Supplies from producers such as the US and Canada will surge by 1.5 million b/d. BBG
• ASML reaffirmed its bullish long-term revenue outlook on AI-driven demand, projecting sales in 2030 of up to €60 billion. Shares rallied. BBG
• Howard Lutnick and his allies are lobbying for him to be picked as Treasury secretary, as some advisers to President-elect Donald Trump quietly signal skepticism about the top contender, investor Scott Bessent. WSJ
• The incoming Trump administration is considering a plan to bypass Congress and unilaterally adopt some of the Musk/Ramaswamy spending cut proposals. Washington Post
• Pennsylvania Senate seat race will be subjected to a recount after the vote result was within the threshold for an automatic recount under state law, according to NBC.
• Disney Beat in FY4Q EPS and revenues with slight operating income miss; constructive FY25 adj EPS guide of HSD, well above expectations of 4%; Stock is trading +10% thus far in the premarket

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were mostly subdued following the indecisive lead from Wall Street where stock markets were choppy after in-line CPI data and continued ‘Trump trade’ flows, while there was a lack of fresh major catalysts to drive price action. ASX 200 gained as strength in Tech and Financials picked up the slack from the weakness in the commodity-related sectors but with the upside capped by disappointing jobs data. Nikkei 225 wiped out all of its initial gains and returned to beneath the 39,000 level despite a weaker currency. Hang Seng and Shanghai Comp remained pressured despite the lack of fresh catalysts and ahead of tomorrow’s activity data with weakness seen in property stocks, while tech names are mixed ahead of key earnings, although Tencent was an early outperformer in Hong Kong after its quarterly results beat estimates on the bottom line.

Top Asian News

• China reportedly armed itself for a potential trade war with Trump as Beijing has enacted sweeping laws since the US President-elect’s first term that would allow it to retaliate if threatened, according to FT.
• Japan is planning a JPY 13.5tln extra budget to fund the stimulus package with PM Ishiba looking to finalise the stimulus package on November 22nd, according to Sankei.
• NetEase (9999 HK) Q3 Revenue (USD) 3.7bln (exp. 3.65bln).

European bourses hold a positive bias, with only a couple of indices residing in the red. Indices opened mixed/modestly firmer and sentiment gradually improved into the morning; indices generally reside at highs. European sectors hold a positive bias vs initially opening mixed. Tech is by far the clear outperformer, lifted by strength in ASML (+4.5%) after it reiterated its 2030 sales outlook. Healthcare resides at the foot of the pile, with Merck (-2.4%) weighing on the sector. Basic Resources is also incrementally in negative territory, with underlying metals prices hit by the continued strength in the Dollar. US equity futures are modestly firmer across the board, but with slight outperformance in the RTY as it attempts to pare back the hefty losses seen in the prior session.

Top European News

• UK Chancellor Reeves is planning on introducing pension legislation changes to create a series of “megafunds” by pooling pension savings, according to Bloomberg.
• ECB’s de Guindos says has seen good news recently on inflation, but not so good for economic activity. Says inflation has come down quite a lot, all indicators on core inflation are heading in the right direction. Recent data on prices heading towards 2% goal. If inflation converges towards the goal, monetary policy will respond accordingly.
• German VDMA Engineering Association sees 1.5% revenue growth in China for German engineering companies in 2024

FX

• DXY’s bull run since the election has continued into today’s session with the DXY up around 3 handles since election day. Just above the 107.00 mark at best, if the move continues the 2023 high sits at 107.35. Today’s data slate sees the release of US PPI which will be used as an input for PCE. Fed speak includes Powell, Barkin, Williams & Kugler.
• EUR/USD’s recent run of losses has extended with the pair slipping further onto a 1.05 handle with a current session low at 1.0507 (fresh YTD low). The next obvious target for the pair is 1.05. If cracked, the 2023 low sits at 1.0448. Looking ahead for the Eurozone, ECB’s Lagarde and Schnabel are due to speak.
• JPY is softer once again vs. the broadly stronger USD. In terms of fundamentals for Japan, reports suggest that the nation is planning a JPY 13.5tln extra budget to fund its stimulus package. However, this has done nothing to turn the tide for the pair.
• GBP lower vs. the USD for a 5th consecutive session. For now, this remains more of a USD story rather than one of pure GBP weakness. Today’s UK data slate is light. However, BoE’s Mann and Bailey are due to speak.
• Both antipodes are softer vs. the USD with AUD in focus following slightly softer-than-expected jobs data overnight. That being said, the release is unlikely to force the hand of the RBA into cutting rates in the immediate future.
• PBoC set USD/CNY mid-point at 7.1966 vs exp. 7.2326 (prev. 7.1991).

Fixed Income

• A slightly softer start to the session with USTs at a fresh 109-06 contract low. Yields bid across the curve with the belly leading and a very slight flattening bias overall. Docket ahead has PPI and IJC, which could spur reactions given the relevance for PCE and insight into the labour-side of the Fed’s mandate respectively. Thereafter, markets will await Fed Chair Powell and then Williams.
• Bunds are in the red but well off worst levels, currently near a 131.79 peak having bounced from an early 131.28 trough, a low which printed overnight when newsflow was light. The second read of EZ GDP figures were unrevised, whilst the Employment figures were revised slightly higher; metrics which ultimately had little impact on price action.
• Gilts are underperforming, holding above the 93.00 mark currently but did go as low as 92.97 just after the open. Specifics for the UK are somewhat light, aside from a lot of press focus on Reeves’ upcoming speech on pension reform; on the subject of speakers, BoE’s Bailey is also on the Mansion House docket but before that we expect a text release from Mann.

Commodities

• Crude is subdued and in choppy trade but within tight ranges amid a lack of macro catalysts but with eyes on the ever-evolving geopolitical landscape. Brent Jan trades between a USD 71.79-72.46/bbl range.
• Pressure seen across all precious metals as the Dollar continues to ramp higher as DXY rises further above 106.50 to levels closer to 107.00.
• Hefty losses across the board for base metals amid the ongoing USD strength and potential implications from protectionism under a Trump admin.
• IEA OMR: raises 2024 world oil demand growth forecast to 920k BPD (prev. 860k BPD); 2025 forecast at 990k BPD (prev. 1mln BPD); says China is the main drag on global oil demand growth; Chinese demand contracted for a sixth straight month in Oct.
• Private Inventory Data (bbls): Crude -0.8mln (exp. +0.1mln), Gasoline +0.3mln (exp. +0.6mln), Distillate +1.1mln (exp. +0.2mln), Cushing -1.9mln.
• South African Mining Production YY (Sep) 4.7% vs. Exp. 2.2% (Prev. 0.3%); Gold Production YY (Sep) -3.7% (Prev. -4.6%)

Geopolitics

• “Syria reports the activation of the air defense system against a UAV in southern Homs in central Syria”, according to Israel Radio Correspondent
• Iranian Foreign Minister Araqchi says Iran is ready to negotiate based on it’s national interests & inalienable right
• Israeli army warned of striking buildings in Haret Hreik and Burj al-Barajneh in the southern suburbs of Beirut, while it was later reported that Israeli warplanes attacked Beirut’s southern suburbs.
• Iraqi armed factions said they attacked a vital target in northern Israel with drones, according to Sky News Arabia.
• White House said US President Biden reinforced the need to back Ukraine in the meeting with President-elect Trump.

US Event Calendar

• 08:30: Oct. PPI Final Demand MoM, est. 0.2%, prior 0%
  • Oct. PPI Final Demand YoY, est. 2.3%, prior 1.8%
  • Oct. PPI Ex Food and Energy MoM, est. 0.2%, prior 0.2%
  • Oct. PPI Ex Food and Energy YoY, est. 3.0%, prior 2.8%
• 08:30: Nov. Initial Jobless Claims, est. 220,000, prior 221,000
  • Nov. Continuing Claims, est. 1.87m, prior 1.89m

Fed Speakrs

• 07:00: Fed’s Kugler Speaks on Economic Outlook
• 09:00: Fed’s Barkin Discusses Economy in Fireside Chat
• 15:00: Powell Speaks on Economic Outlook in Dallas
• 16:45: Fed’s Williams Speaks at NYFed Event

DB’s Jim Reid concludes the overnight wrap

The past 24 hours saw investors growing more confident about a December rate cut after US CPI was in line with expectations. Admittedly, the report wasn’t actually that good compared with some recent months, as monthly headline CPI was the fastest in six months, and core CPI was still a bit faster than the Fed would ideally like. This helped to reassure investors that the Fed was still on a path towards at least a cut in December, but long-end yields rose to multi-month highs, as fears about upcoming tariffs and a potential re-acceleration of inflation lingered. The S&P 500 (+0.02%) was little changed, some but other “Trump trades” prevailed with the dollar rising to its highest in over a year and Bitcoin reaching at an all-time high of $93,413 in the US session yesterday. It was as low as $52,598 on September 6.

In terms of the details from the report, core CPI was at a monthly +0.28% in October (vs. +0.3% expected), so markets were relieved we didn’t get the +0.4% print some had feared. That said, it wasn’t all good news, as that’s the third consecutive reading which rounds to +0.3%. So the 3-month annualised rate of core CPI now stands at +3.6%, up from just +1.6% three months ago, when it felt like inflationary pressures were a lot more tame and the Fed were pivoting towards their 50bp rate cut in September. In the meantime, headline CPI was also broadly as expected at +0.24% (vs. +0.2% expected), but it wasn’t far from rounding up to +0.3% as well, and it was also the fastest headline CPI print since April. In turn, that pushed the 3m annualised rate up to +2.5%, whilst the year-on-year rate ticked up to +2.6%, ending a run of six consecutive monthly declines in the annual rate.

Nevertheless it could have been worse and investors dialled up the chance of the Fed cutting rates again at the December meeting, with futures now giving that an 82% probability. That was down to 59% just before the release, so there was a meaningful rise intraday. In turn, that led to a decent rally in front-end Treasuries, with the 2yr yield down -5.4bps on the day to 4.29%. However, 10yr yields rose +2.3bps to 4.45%, their highest since the start of July, and rising nearly 10bps from their intra-day low in the hour or so after the CPI release. And 30yr yields (+6.8bps) rose to their highest since May, with the 2s30s slope seeing its sharpest steepening YTD. There wasn’t a single clear driver for the long-end sell-off with strong corporate issuance so far this week potentially playing a role, while the “Trump trade” factor again appeared to dominate. Overnight, 2yr (+2.8bps) and 10yr USTs (+2.0bps) are trading at 4.313% and 4.471%, respectively, as we go to print.

In terms of post-election news, a Republican sweep was confirmed yesterday as the party has now secured 218 of the 435 seats in the House of Representatives, with nine seats still to be called. We also had further news on Trump’s cabinet picks, with Trump confirming senator Marco Rubio as his nominee for Secretary of State and nominating representative Matt Gaetz for Attorney General. However, we are still waiting on names for most of the key economic positions, including Treasury Secretary, Commerce Secretary and US Trade Representative.

Looking at the Fed, there was a fair amount of commentary from officials yesterday. For instance, Minneapolis Fed President Kashkari said that “I think that inflation is headed in the right direction”, and Dallas Fed President Logan said that “I think it behooves us to proceed cautiously at this point”. This tone of heightened uncertainty was echoed by Kansas City Fed President Schmid, who said that “it remains to be seen how much further interest rates will decline or where they might eventually settle”, while St Louis Fed President Musalem commented that officials should assess incoming data “judiciously and patiently”.

Even as investors grew more confident about a December rate cut, the US Dollar continued its relentless move higher yesterday. In fact, the dollar index (+0.43%) closed at its highest level in over a year, whilst the euro closed at a one-year low of $1.0569. To some extent, that could be explained by the fact that even as front-end nominal yields were moving lower, longer-dated real yields actually hit their highest in months. That included the 10yr real yield, which was up +2.5bps to a 4-month high of 2.09%, and the 30yr real yield (+6.0bps) also hit a 5-month high of 2.32%.

Meanwhile for equity markets, there was a fairly steady performance yesterday, with the S&P 500 (+0.02%) little changed. Tech stocks underperformed, with the NASDAQ (-0.26%) falling back and the Philadelphia Semiconductor index (-2.00%) posting its fourth decline in a row. Over in Europe, the story was also one of small moves in either direction, with the STOXX 600 (-0.13%) closing at a three-month low.

Elsewhere in Europe, sovereign bonds struggled a touch, with yields on 10yr bunds (+2.6bps) and OATs (+1.9bps) moving higher. Interestingly, that came as the CDU/CSU chancellor candidate Friedrich Merz, suggested he was open to reform of the debt brake yesterday. So that could open up the door to a potential fiscal expansion, and DB’s chief German economist Robin Winkler put out a note on this yesterday (link here), where he points out that Merz’s comments offer room for manoeuvre in potential coalition talks after the election, even if it remains unlikely that the CDU/CSU would endorse more debt-financed investment during the election campaign. Clearly, there’s also the question as to whether the electoral arithmetic would allow for a change in the constitution, as that would require a two-thirds majority. But he thinks there is a growing probability of a meaningful fiscal expansion after the election.

Asian equity markets are mixed this morning but with the Hang Seng (-1.47%) leading losses on tariff fears and with the Shanghai Composite (-0.86%) being pulled lower by property and tech stocks. Elsewhere, the KOSPI (+0.09%) is hanging onto gains but the Nikkei (-0.20%) has slipped lower as I’ve been typing, even with the Japanese yen (-0.37%) sliding for the fourth consecutive day, dropping to fresh multi-month low of 156.08 against the dollar. This decline has brought the yen closer to levels where Japanese authorities last intervened to support their currency. US futures are down around a tenth of a percent.

Early morning data showed that Australia’s unemployment rate remained steady at 4.1% for the third consecutive month in October as the number of employed people increased by 15,900. Economists had believed employers would add a net 25,000 jobs in October. Meanwhile, there is a slight drop in the participation rate from a record 67.2%, edging down to 67.1% in October.

To the day ahead now, and we’ll hear from plenty of central bank speakers, including Fed Chair Powell, the Fed’s Kugler, Barkin and Williams, ECB Vice President de Guindos, the ECB’s Schnabel, BoE Governor Bailey, and the BoE’s Mann. We’ll also get the ECB’s account of their October meeting. And US data releases include PPI for October and the weekly initial jobless claims. Lastly, earnings releases include Walt Disney.

2B) European report.

2C ASIAN REPORT

Fed speak in focus with DXY above 106.50 & USTs lacklustre, Powell ahead – Newsquawk Europe Market Open

Thursday, Nov 14, 2024 – 01:53 AM

• APAC stocks were mostly subdued following the indecisive lead from Wall Street. DXY extended above 106.50 and 10yr UST futures were lacklustre, while there was a lack of fresh major catalysts.
• Fed’s Musalem (2025 voter) noted recent information suggests that the risk of inflation moving higher has risen and risks to the job market remain unchanged or have fallen.
• Fed’s Schmid (2025 voter) said “it remains to be seen” how much more the Fed will cut rates and where they may settle.
• China reportedly armed itself for a potential trade war with Trump as Beijing has enacted sweeping laws since the US President-elect’s first term that would allow it to retaliate if threatened, according to FT.
• Israel is reportedly preparing a Lebanon ceasefire plan as a “gift” to US President-elect Trump, according to WaPo.
• Looking ahead, highlights include EU Jobs & GDP, US Initial Jobless Claims, US PPI (Final), Japanese GDP, IEA OMR, ECB Minutes. Speakers include ECB’s Lagarde, de Guindos & Schnabel, Fed’s Powell, Barkin, Williams & Kugler, BoE’s Bailey & Mann. Supply from the US. Earnings from Siemens, Deutsche Telekom, Merck, Swiss Re, Burberry, Disney, Brookfield, Applied Materials, JD.Com & Advanced Auto Parts.

SNAPSHOT

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US TRADE

EQUITIES

• US stocks were choppy and finished mixed following the US CPI data which printed in line with expectations and initially triggered a dovish reaction owing to the lack of upside surprise which boosted December Fed rate cut bets, as well as benefitted bonds and pressured the dollar.
• However, the initial moves were then reversed as the ‘Trump Trade’ gathered steam once again which lifted the dollar to YTD highs, weighed on bonds and boosted Bitcoin to briefly above USD 93,000.
• SPX +0.02% at 5,985, NDX -0.16% at 21,036, DJIA +0.11% at 43,958, RUT -0.94% at 2,369.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Fed’s Musalem (2025 voter) said the Fed may be on the “last mile” to price stability and inflation is expected to converge to the 2% target over the medium term, while he noted recent information suggests that the risk of inflation moving higher has risen and risks to the job market remain unchanged or have fallen. Musalem added that monetary policy is ‘well positioned’ and the Fed can ‘judiciously and patiently’ judge incoming data to decide on further rate cuts. Furthermore, he noted monetary policy is to remain ‘appropriately restrictive’ while inflation remains above 2% and further rate easing is appropriate if inflation continues to fall. He added that the data since the Fed policy meeting suggests the economy may be materially stronger than expected and inflation data is also stronger but has not yet changed the view that policy is on a path to neutral.
• Fed’s Schmid (2025 voter) said “it remains to be seen” how much more the Fed will cut rates and where they may settle, while he added that Fed rate cuts to date are an “acknowledgement” of growing confidence inflation is on the path to the 2% goal. Furthermore, Schmid said the baseline of interest-rate cost appears to be higher than people thought a year or two ago.
• US President-elect Trump confirmed he will name Marco Rubio as Secretary of State and he picked Matt Gaetz (who is seen as pro-marijuana) to serve as Attorney General.
• Pennsylvania Senate seat race will be subjected to a recount after the vote result was within the threshold for an automatic recount under state law, according to NBC.

APAC TRADE

EQUITIES

• APAC stocks were mostly subdued following the indecisive lead from Wall Street where stock markets were choppy after in-line CPI data and continued ‘Trump trade’ flows, while there was a lack of fresh major catalysts to drive price action.
• ASX 200 gained as strength in Tech and Financials picked up the slack from the weakness in the commodity-related sectors but with the upside capped by disappointing jobs data.
• Nikkei 225 wiped out all of its initial gains and returned to beneath the 39,000 level despite a weaker currency.
• Hang Seng and Shanghai Comp remained pressured despite the lack of fresh catalysts and ahead of tomorrow’s activity data with weakness seen in property stocks, while tech names are mixed ahead of key earnings, although Tencent was an early outperformer in Hong Kong after its quarterly results beat estimates on the bottom line.
• US equity futures were restricted after the prior day’s choppy performance ahead of more data and Fed speakers.
• European equity futures are indicative of a slightly higher cash open with the Euro Stoxx 50 future +0.2% after the cash market closed lower by 0.1% on Wednesday.

FX

• DXY extended on gains to a yearly high with a firmer footing above the 106.00 level after the prior day’s intraday rebound whereby a continuation of the Trump trade offset the headwinds from the lack of upward surprise in the latest CPI data. There were also remarks from Fed members including Fed’s Musalem who noted recent information suggests that the risk of inflation moving higher has risen and that the Fed can ‘judiciously and patiently’ judge incoming data to decide on further rate cuts.
• EUR/USD fell to its lowest levels in a year after slipping beneath 1.0600 and is on course for a fifth consecutive daily loss, while there is a slew of EU releases ahead including Q3 GDP, Industrial Production, Employment Change and ECB Minutes.
• GBP/USD trickled beneath the prior day’s lows with little to spur a rebound ahead of comments from BoE’s Bailey and Mann.
• USD/JPY continued its upward trend and breached the 156.00 level as the dollar remained firm and with Japanese officials relatively tight-lipped so far about the latest currency moves.
• Antipodeans were pressured amid dollar strength, the mixed risk appetite and weaker-than-expected Australian jobs data.
• PBoC set USD/CNY mid-point at 7.1966 vs exp. 7.2326 (prev. 7.1991).

FIXED INCOME

• 10yr UST futures were lacklustre after the prior day’s whipsawing following the in-line CPI data from the US which boosted bets for a 25bps rate cut in December and initially lifted prices, before reversing the entire move alongside the ‘Trump trade’, while participants now await several Fed speakers including Powell and data releases such as PPI and the latest jobless claims numbers.
• Bund futures remained subdued after the recent selling pressure and ahead of a slew of upcoming data releases from the EU.
• 10yr JGB futures lacked demand following the declines in peers albeit with the downside cushioned in the absence of any major catalysts from Japan and with a floor around the 143.00 level.

COMMODITIES

• Crude futures were lacklustre after yesterday’s choppy performance owing to mixed geopolitical headlines, while the latest private sector inventory data was mixed with a surprise draw in crude and a larger-than-expected build in distillates.
• Private Inventory Data (bbls): Crude -0.8mln (exp. +0.1mln), Gasoline +0.3mln (exp. +0.6mln), Distillate +1.1mln (exp. +0.2mln), Cushing -1.9mln.
• EIA STEO sees 2024 world oil output of 102.6mln BPD (prev. 102.5mln) and 2025 output of 104.7mln BPD (prev. 104.5mln), while 2024 world oil demand is seen at 103.1mln BPD (prev. 103.1mln BPD) and 2025 demand of 104.4mln BPD (prev. 104.3mln).
• Spot gold declined further beneath the USD 2,600/oz level with pressure from the broad dollar strength.
• Copper futures retreated to a 3-month low amid the uninspired risk sentiment and weakness across the complex.

CRYPTO

• Bitcoin eased back after a brief ascent above USD 93,000 and oscillated around the USD 90,000 level overnight.

NOTABLE ASIA-PAC HEADLINES

• China reportedly armed itself for a potential trade war with Trump as Beijing has enacted sweeping laws since the US President-elect’s first term that would allow it to retaliate if threatened, according to FT.
• US President Biden and Chinese President Xi are to meet on Saturday in Lima, Peru and are expected to ‘take stock’ of their relationship, while China is taking some steps to help the US combat the global fentanyl crisis. Furthermore, Biden will express concerns to Xi over Chinese support for Russia’s war in Ukraine, North Korean deployment in Russia, and Chinese actions in the Taiwan Strait and South China Sea, as well as cyber issues.
• Japan is planning a JPY 13.5tln extra budget to fund the stimulus package with PM Ishiba looking to finalise the stimulus package on November 22nd, according to Sankei.

DATA RECAP

• Australian Employment (Oct) 15.9k vs. Exp. 25.0k (Prev. 64.1k)
• Australian Unemployment Rate (Oct) 4.1% vs. Exp. 4.1% (Prev. 4.1%)
• Australian Participation Rate (Oct) 67.1% vs. Exp. 67.2% (Prev. 67.2%)

GEOPOLITICS

MIDDLE EAST

• Israeli officials stated as of now, the Iranians withdrew from their decision to respond and that Trump’s election had an impact on Iran’s decision on whether to retaliate, according to Kann News’ Stein.
• Israel is reportedly preparing a Lebanon ceasefire plan as a “gift” to US President-elect Trump, according to WaPo.
• Israeli army warned of striking buildings in Haret Hreik and Burj al-Barajneh in the southern suburbs of Beirut, while it was later reported that Israeli warplanes attacked Beirut’s southern suburbs.
• Israeli Home Front said sirens sounded in Averim and Ma’a lot-Tarshiha in Upper Galilee after rocket fire was detected, while Hezbollah said it shelled with a rocket barrage a gathering of the Israeli enemy forces in the settlement of Sa’saa, according to Al Jazeera. Hezbollah also announced the targeting of the headquarters of the Israeli Ministry of Defense and General Staff in Tel Aviv for the second time on Wednesday.
• Iraqi armed factions said they attacked a vital target in northern Israel with drones, according to Sky News Arabia.
• There were initial reports of Israeli aggression targeting Syria’s Homs countryside, according to Syrian state media.
• European powers are reportedly pushing for a new resolution against Iran by the UN atomic watchdog’s board next week to pressure Tehran over its poor cooperation, according to Reuters citing diplomats.

OTHER

• White House said US President Biden reinforced the need to back Ukraine in the meeting with President-elect Trump.

EU/UK

• UK Chancellor Reeves is planning on introducing pension legislation changes to create a series of “megafunds” by pooling pension savings, according to Bloomberg.

DATA RECAP

• UK RICS Housing Survey (Oct) 16.0 vs. Exp. 11.0 (Prev. 11.0)

3B NORTH KOREA/SOUTH KOREA

NORTH KOREA/RUSSIA/UKRAINE

END

3C JAPAN

3D. CHINA/TAIWAN

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

France

Trouble brewing in France with this big match coming up

(JerusalemPost)

Paris protesters target pro-Israel, far-right linked gala ahead of tense soccer match

Demonstrators decry invitation sent to Finance Minister Smotrich; Israel-France game to be secured by thousands of police, as fans permitted to bring only each team’s national flag

By Agencies and ToI StaffToday, 10:24 am

Protesters and police clash during a rally against the ‘Israel is Forever’ gala organized by far-right Franco-Israeli figures, in Paris, November 13, 2024, on the eve of the UEFA Nations League 2025 soccer match between France and Israel. (Louise Delmotte/AP)

PARIS — Protests erupted in Paris on Wednesday against a gala organized by French far-right figures in support of Israel. The event, intended to raise funds for the Israeli military, had included Israeli Finance Minister Bezalel Smotrich among its invited guests, though he didn’t end up attending.

The demonstrations came on the eve of a high-stakes soccer match at France’s national stadium against the Israeli national team, overshadowed by tensions around Israel’s wars against the Hamas and Hezbollah terror groups. Authorities in Paris announced that more than 4,000 police officers and 1,600 stadium staff would be deployed for the game.

Smotrich, a vocal advocate of Israeli settlements in the West Bank, had been expected to attend Wednesday’s gala, dubbed “Israel is Forever,” which was planned by an association of the same name. The group’s stated goal is to “mobilize French-speaking Zionist forces.”

After days of growing criticism of the event, Smotrich’s office confirmed Wednesday that the minister would not travel to Paris to participate.

But the invitation to Smotrich drew sharp criticism from local associations, unions and left-wing political parties, prompting two protests in the French capital. The minister, a hardline leader, has been promoting far-reaching settlement plans in the West Bank and drew international condemnation this week by saying he hopes the election of Donald Trump in the US would clear the way for Israeli annexation of the West Bank — a step that would likely extinguish Palestinian statehood dreams.

The French Foreign Ministry called Smotrich’s remarks “contrary to international law” and counterproductive to efforts to reduce regional tensions.

Protesters take part in a rally against the ‘Israel is Forever’ gala organized by far-right Franco-Israeli figures, in Paris, November 13, 2024. (Christophe Ena/AP)

Critics also pointed at Nili Kupfer-Naouri, president of the “Israel is Forever” association, who sparked outrage in 2023, after the Israel-Hamas war started, when she tweeted that “no civilian in Gaza was innocent.” Gazan civilians have been found to be holding hostages abducted from Israel in their homes.

On Wednesday night, several hundred protesters marched through central Paris, denouncing the event as a “gala of hatred and shame.”

“Imagine if an association were hosting a gala for Hezbollah or Hamas — there’s no way the police would allow that,” said Melkir Saib, a 30-year-old protester. “The situation is just unfair.” (The EU designates Hamas and the military wing of Hezbollah as terrorist entities.)

Some demonstrators broke windows at a McDonald’s along the route, though the march was largely peaceful.

A separate group, including Jewish leftist organizations opposed to racism and antisemitism, gathered near the Arc de Triomphe chanting slogans against the gala and Smotrich.

French authorities defended the event, with Paris police chief Laurent Nunez stating that the gala posed “no major threat to public order.”

Protesters vandalize the windows of a McDonalds restaurant during a rally organized by political parties (La France Insoumise – LFI, Les Ecologistes – EELV and Nouveau Parti anticapitaliste – NPA) against the ‘Israel is Forever’ gala organized by far-right Franco-Israeli figures, in Paris, on November 13, 2024. (Dimitar DILKOFF / AFP)

The protests came days after tensions flared in Paris — a massive “Free Palestine” banner was displayed during a Paris Saint-Germain Champions League match against Atletico Madrid last week — and after riots and violence targeting Israeli soccer fans in Amsterdam.

Only Israeli, French flags at Paris soccer game

French authorities stepped up security ahead of the Israel-France Nations League soccer match in Paris on Thursday, hoping to avoid a repeat of the violent clashes in Amsterdam.

“It’s an exceptional measure, three to four times greater than what we usually mobilize,” Paris police chief Laurent Nunez told RTL radio on Wednesday.

Only French and Israel flags will be allowed inside the stadium, he added.

In a rare move, police will also be deployed inside the stadium. Civilian staff are normally assigned to those roles.

An elite police unit will guard the Israeli team on its journey to and from the stadium and another 1,600 civilian security personnel will also be on duty at the match.

Israel’s head coach Ran Ben Shimon (C) talks to his players during a training session at the Stade de France, in Saint-Denis, north of Paris, on November 13, 2024, on the eve of the UEFA Nations League League A Group A2 football match between France and Israel. (FRANCK FIFE / AFP)

French President Emmanuel Macron will attend the game in a show of solidarity, while Interior Minister Bruno Retailleau said after the Amsterdam clashes there was never any question the game would go ahead as planned.

Still, turnout will likely be low, with just 20,000 fans expected in the 80,000-capacity stadium north of Paris.

Israel coach Ran Ben Shimon said he wanted to separate soccer from the “difficult” context as his side prepared to take on France.

When asked about the context in which Thursday’s game was taking place, Ben Shimon said he remained focused on the match.

Passions over Israel’s war with Palestinian terror group Hamas in Gaza run high in France, home to Europe’s largest Jewish and Muslim communities. Reports of antisemitic acts increased by an “unprecedented” 284 percent in 2023, France’s Human Rights Commission said in June, while anti-Muslim acts rose around a third.

The ongoing multifront war was triggered when Hamas led a devastating October 7, 2023, attack on southern Israel that killed 1,200 people, mostly civilians, and saw the kidnapping of 251 people to Gaza.

In this image taken from video, people march with Palestinian flags near the Ajax stadium in Amsterdam, November 7, 2024. Maccabi Tel Aviv fans were targeted by anti-Israel rioters in what victims and witnesses said was an organized attack by Arab and Muslim gangs following a soccer match. (AP Photo InterVision)

Israeli officials said 10 people were injured in the Thursday night violence carried out by local Arab and Muslim gangs against Maccabi Tel Aviv soccer fans. Hundreds more Israelis huddled in their hotels for hours, fearing they could be attacked. Many said that Dutch security forces were nowhere to be found, as the Israeli tourists were ambushed by gangs of masked assailants who shouted pro-Palestinian and anti-Israel slogans while they hunted, beat and harassed them.

Aurélien Bernheïm, co-founder of the Movement for French Jews, a right-wing Zionist youth group, said around 30 of his organization’s members would attend the Paris match.

“But I won’t hide it, many of these young people were scared to go as they had in their heads these appalling images from Amsterdam,” he said.

Walid Attalah, president of the Associations of Palestinians in Ile de France, said the match should have been canceled.

“Russia has been banned because there was the occupation of Ukraine, it was illegal, there were war crimes, but Israel is never sanctioned for what it does,” he said.

Some supporters, however, shrugged off concerns.

“I’m not worried,” said Yannick Vanhee, who leads a French supporters association in Dunkirk. “Authorities have been putting more and more security into these events.”

 

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL//

END

ISRAEL/HEZBOLLAH/GAZA

end

ISRAEL/AMSTERDAM

More protests in Amsterdam

(JerusalemPost

Dozens detained in Amsterdam as pro-Palestinian, anti-Israel protesters again defy ban on demonstrations

By Agencies and ToI StaffToday, 11:52 p

Police officers detain a protestor during an unauthorized pro-Palestinian demonstration on Dam Square in Amsterdam on November 13, 2024. (Nick Gammon/AFP)

Dutch police detain dozens of pro-Palestinian protesters in Amsterdam, after several hundred again defied a demonstration ban put in place after violence against Israeli soccer fans last week.

Dozens of demonstrators chant anti-Israel slogans including “Amsterdam is saying no to genocide.” Israel has emphatically denied all accusations of genocide.

Large numbers of police, including some on horseback, detained most of the protesters after they refused to leave, escorting them mostly peacefully into buses and driving them away from the square.

The latest protests followed a similar demonstration on Sunday.

The demonstrations come as the Netherlands is still dealing with the fallout from last week’s violence in Amsterdam when fans of Maccabi Tel Aviv were assaulted by men on scooters in several parts of the Dutch capital.

Israeli officials said 10 people were injured in the Thursday night violence carried out by local Arab and Muslim gangs against Maccabi Tel Aviv soccer fans. Hundreds more Israelis huddled in their hotels for hours, fearing they could be attacked. Many said that Dutch security forces were nowhere to be found, as the Israeli tourists were ambushed by gangs of masked assailants who shouted pro-Palestinian and anti-Israel slogans while they hunted, beat and harassed them.

Dutch Prime Minister Dick Schoof termed the attacks an incident of “unadulterated antisemitism.” Police said the attackers were mobilized by calls on social media to target Jewish people.

end

ISRAEL/HEZBOLLAH/

Six Golani soldiers fall in southern Lebanon, IDF announces

All six soldiers were from Golani’s 51st Battalion.

By JERUSALEM POST STAFFNOVEMBER 13, 2024 20:50Updated: NOVEMBER 13, 2024 22:59

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-829021&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241113_65daa3e3cf0b9a2ec60aab1570945340a3e0c61a&useBunnyCDN=0&themeId=140&unitType=tts-player

SIX soldiers from the Golani Brigade fell in combat in southern Lebanon, the IDF announced on Wednesday evening. 

All 6 soldiers were from Golani’s 51st Battalion.

The soldiers were Captain Itay Marcovich, Staff Sergeant Dror Hen, Staff Sergeant Sraya Elbom, Staff Sergeant Nir Gofer, Sergeant Shalev Itzhak Sagron, and Sergeant Yoav Daniel.

Captain Itay Marcovich, aged 22, was a Platoon Commander from Kochav Yair. Staff Sergeant Sraya Elbom, aged 21, a Squad Commander, was from Mehola; Staff Sergeant Dror Hen, aged 20, a Squad Sergeant, was from Gan Haim; Staff Sergeant Nir Gofer, aged 20, was from Dimona; and Sergeant Shalev Itzhak Sarog, aged 21, was from Sderot, Sergeant Yoav Daniel, aged 19, was from Nahariya.

IDF says troops died during gun battle with terror group members; air force hits Hezbollah in Beirut as Iran-backed group claims to target army’s HQ; Syria claims bombed by Israel

By Emanuel Fabian Follow
and AgenciesToday, 11:40 pm

Soldiers killed in southern Lebanon on November 13, 2024: Top, left to right: Staff Sgt. Sraya Elboim, Sgt. Shalev Itzhak Sagron, Sgt. Yoav Daniel; Bottom, left to right: Staff Sgt. Dror Hen, Staff Sgt. Nir Gofer, Cpt. Itay Marcovich

Six Israeli soldiers were killed in a clash with Hezbollah forces, the IDF announced Wednesday, as Israeli troops pushed deeper into southern Lebanon amid an intensification of violence, even as officials expressed cautious optimism on ceasefire talks.

The clash came as troops moved into the second line of villages across from the border as the IDF said it had further expanded its ground operation in southern Lebanon, It was one of the heaviest single-day losses in the operation that began in late September against Hezbollah.

The slain troops were named as:

• Cpt. Itay Marcovich, 22, from Kohav Ya’ir
• Staff Sgt. Sraya Elboim, 21, from Mehola
• Staff Sgt. Dror Hen, 20, from Gan Haim
• Staff Sgt. Nir Gofer, 20, from Dimona
• Sgt. Shalev Itzhak Sagron, 21, from Sderot
• and Sgt. Yoav Daniel, 19, from Nahariya.

They all served in the Golani Brigade’s 51st Battalion, the IDF said in a statement.

According to an initial IDF probe, the soldiers were killed in an exchange of fire with at least four Hezbollah operatives inside a building in a village in southern Lebanon.

At least one other soldier was moderately wounded in the incident.

Troops operating in south Lebanon in an undated photo released for publication by the military on November 13, 2024. (Israel Defense Forces)

All four of the Hezbollah members were eventually killed, the Kan public broadcaster reported.

It was the second deadliest day for the IDF operation after eight soldiers were killed on October 2.

Israel has vowed to push Hezbollah away from the border and restore security to its communities near the boundary after over a year of deadly rocket and drone fire from the Iran-backed terror group that forced the evacuation of some 60,000 residents in the north of the country.

In addition to the expanded ground operation, Israeli fighter jets continued to strike Hezbollah targets in the southern suburbs of Beirut after the IDF issued evacuation warnings ahead of airstrikes, a method that has intensified in recent days.

The military said the targets included weapons depots and a command center.

Later in the evening, the IDF issued new evacuation orders for Lebanese civilians in the vicinity of two buildings in Beirut’s southern suburbs.

Col. Avichay Adraee, the IDF’s Arabic-language spokesman, published maps alongside the announcement, which called on civilians to distance themselves at least 500 meters from the sites.

#عاجل إلى جميع السكان المتواجدين في منطقة الضاحية الجنوبية وتحديدًا في المباني المحددة في الخرائط المرفقة والمباني المجاورة لها في المناطق التالية:
🔸حارة حريك
🔸برج البراجنة

⭕️أنتم تتواجدون بالقرب من منشآت ومصالح تابعة لحزب الله حيث سيعمل ضدها جيش الدفاع على المدى الزمني… pic.twitter.com/BtVAp5Z4LQ

— افيخاي ادرعي (@AvichayAdraee) November 13, 2024

Syrian state media claimed an Israeli attack also targeted the area of Al-Qusayr in the southern countryside of Homs province in central Syria.

The IDF later confirmed the strike, saying it hit land crossings between Lebanon and Syria, which were being used by Hezbollah to bring weapons into the country.

Israeli fighter jets struck several routes in Syria that the IDF says were in use by Hezbollah’s Unit 4400, which is tasked with delivering weapons from Iran to Lebanon.

Syria’s state-run SANA news agency, citing a military source, says the strikes caused “significant damage” to several bridges on the Orontes River and other roads on the Syrian-Lebanese border in the al-Qusayr area.

According to the IDF, the strikes are a major blow to the capabilities of Hezbollah’s Unit 4400.

The IDF in recent months has ramped up strike against attempts by Hezbollah to bring in weapons, including by targeting border crossings with Syria as well as the shipments themselves.

Hezbollah meanwhile, continued to fire barrages of rockets and drones into northern and central Israel.

Hezbollah said that it had fired ballistic missiles at the IDF’s headquarters as it claimed a series of attacks against high-profile Israeli targets.

The pro-Iranian group said in a statement that it had targeted the site in the commercial hub of Tel Aviv, which houses both the defense ministry and the headquarters of the Israeli military, with Qader-2 missiles.

Hezbollah had already announced earlier in the day that it had targeted the same site with explosive drones.

It then later said that it had fired a salvo of missiles at another site near Tel Aviv which it said was owned by the Israeli Weapons Industries (IWI) arms manufacturer.

Hezbollah said it was the first time that it had targeted the site. IWI is a major supplier of the Israeli military.

An Iron Dome interceptor targets a rocket from Lebanon, as is seen from the northern city of Safed, November 13, 2024 (David Cohen/Flash90)

The IDF said earlier it had intercepted two drones from Lebanon in northern Israel. There was no indication that any drones reached central Israel or came near army headquarters.

Later, the IDF said around five rockets were launched from Lebanon toward the Haifa area and central Israel.

It said some of the rockets were intercepted while others impacted on the ground. There are no immediate reports of damage or casualties.

‘We will not take our foot off the gas’

The violence came as efforts continue in Washington and Beirut to find a negotiated end to combat between Israel and Hezbollah. However, new Defense Minister Israel Katz promised that the IDF will keep fighting until all of Israel’s goals are achieved.

“We will not make any ceasefire, we will not take our foot off the gas, and we will not allow any arrangement that does not include the achievement of the war’s goals,” Katz said during a visit to IDF Northern Command with IDF Chief of Staff Lt. Gen. Herzi Halevi.

He listed the aims as disarming Hezbollah, pushing it beyond the Litani River, and allowing the residents of northern Israel to return safely to their homes.

Video of his statement appeared to show Halevi reacting in surprise to Katz identifying disarming Hezbollah as a goal of the war, since such a move has not been decided by the cabinet.

מה הוא אמר עכשיו? כששר הביטחון הגדיר מטרת מלחמה חדשה – והפתיע את הרמטכ"ל#כאן_בשש @mayarachlin @roysharon11 @gilicohen10 @ItayBlumental pic.twitter.com/K1Dy9bennd

— כאן חדשות (@kann_news) November 13, 2024

Hezbollah is barred by UN Security Council Resolution 1701 from maintaining a military presence south of the Litani. The Shiite terror group has blatantly violated that resolution and regularly launches attacks on Israel from near the border.

Defense Minister Israel Katz (center) during a visit to Northern Command with IDF Chief of Staff Lt. Gen. Herzi Halevi (2R) on November 13, 2024. (Ariel Hermoni/Defense Ministry)

Katz stressed that Israel will continue to insist on its “right to enforce [any deal] on its own and to act against any terrorist activity and organization.”

“Now we need to continue to hit Hezbollah with all our strength,” he said.

Navy joining the fight

Also Wednesday, the IDF revealed the extent to which the Israeli Navy has been involved in the fighting, with much of the previous headlines taken by airstrikes and the ground operation.

The military revealed that the navy has carried out dozens of missile strikes in Lebanon amid fighting against Hezbollah, including the assassinations of a top commander in the terror group’s drone unit and a senior Hamas member.

On October 5, a Navy Sa’ar 6-class corvette launched a missile at an apartment in the Beddawi Palestinian camp near the northern Lebanese city of Tripoli, killing Saeed Atallah Ali.

Another missile strike carried out by a Navy corvette, on November 3, killed Ali Barakat, a top commander in Hezbollah’s aerial forces, known as Unit 127, which is responsible for drone and cruise missile attacks on Israel.

https://customer-b1ezbl4fz7l5vj5n.cloudflarestream.com/0fe1495d653df2c098852c84ff79bdef/iframe

A video released by the IDF on November 13, 2024, shows a Navy missile strike in Lebanon on November 3, 2024, killing Ali Barakat, a top commander in Hezbollah’s aerial forces. (Israel Defense Forces)

https://www.timesofisrael.com/6-israeli-soldiers-killed-in-fighting-with-hezbollah-as-idf-pushes-deeper-into-lebanon/

Navy corvettes and missile boats have also launched dozens more strikes in Lebanon, targeting Hezbollah sites and assets, including rocket launchers and weapon depots, in addition to supporting ground troops operating in the south of the country.

The military said that Navy vessels are used for certain strikes in Lebanon, instead of the traditional fighter jets or drones, due to their constant availability at sea and because the attacks can be launched more discreetly.

https://customer-b1ezbl4fz7l5vj5n.cloudflarestream.com/cc39cc742ef0b45bb1735bbaf44c171b/iframe

A video released by the IDF on November 13, 2024, shows Navy missile strikes in Lebanon amid the fighting against Hezbollah. (Israel Defense Forces)

https://www.timesofisrael.com/6-israeli-soldiers-killed-in-fighting-with-hezbollah-as-idf-pushes-deeper-into-lebanon

Navy submarines have also been used for their observational capabilities amid the fighting in Lebanon.

The corvettes and missile boats have also been used to intercept projectiles launched at Israel, mostly drones but also some rockets, using the ship-mounted version of the Iron Dome, known as C-Dome.

Separately, the IDF released footage of a recent strike carried out by fighter jets in Beirut, targeting Hezbollah’s main naval base.

https://customer-b1ezbl4fz7l5vj5n.cloudflarestream.com/1195acf0413d277e03302f330da6eec7/iframe

A video released by the IDF on November 13, 2024, shows airstrikes against Hezbollah’s main naval base in Beirut. (Israel Defense Forces)

https://www.timesofisrael.com/6-israeli-soldiers-killed-in-fighting-with-hezbollah-as-idf-pushes-deeper-into-lebanon/

According to the military, the base was used by Hezbollah to store fast boats, carry out tests, and train its naval forces.

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

The attacks on northern Israel since October 2023 have resulted in the deaths of 43 civilians. In addition, 68 IDF soldiers and reservists have died in cross-border skirmishes and in the ensuing ground operation launched in southern Lebanon in late September.

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

The IDF estimates that some 3,000 Hezbollah operatives have been killed in the conflict. Around 100 members of other terror groups, along with hundreds of civilians, have also been reported killed in Lebanon.

Hezbollah has named 516 members who have been killed by Israel amid the fighting, mostly in Lebanon but some also in Syria. These numbers have not been consistently updated since Israel began a new offensive against Hezbollah in September.

END

ISRAEL HEZBOLLAH/

this is scary for Israel: long range missiles. If they strike TelAviv then Israel will escalate things

(JerusalemPost)

Hezbollah seeks to target Israel with more long-range missiles: What does this mean? – analysis

Hezbollah has a new goal: trying to use more long-range missiles to target Tel Aviv and its surrounding areas.

By SETH J. FRANTZMANNOVEMBER 13, 2024 21:39Updated: NOVEMBER 13, 2024 21:41

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-829029&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241113_65daa3e3cf0b9a2ec60aab1570945340a3e0c61a&useBunnyCDN=0&themeId=140&unitType=tts-player

Hezbollah has a new goal: It is trying to use more long-range missiles to target areas around Tel Aviv. Hezbollah has confirmed this in recent claims about its attacks, claiming they are part of its “Khaybar series of operations.” Hezbollah has released details to Iranian media, pro-Hezbollah media, and also Houthi media.

The coordinated effort to highlight this is clear. Israeli media has been reporting on how Hezbollah is being defeated. Hezbollah’s message is that it is not only not defeated, it can increase its attacks. This is part of a larger series of attacks that Iran appears to have prodded Iraqi militias and the Houthis to conduct. The Houthis claimed they used a new “Palestine 2” missile against Israel on Monday. Hezbollah has also claimed to roll out Fateh missiles, which are of Iranian origin.

Hezbollah “announced that it launched an air attack using a squadron of attack drones on the Kirya base, which is the headquarters of the Israeli Ministry of War and General Staff. It hit the targets accurately at 03:30 this afternoon,” the Houthi Al-Masirah media reported. There was no evidence that this actually happened, as no sirens sounded in Israel at the time.

The Iranian-backed group also claimed to target the IDF’s 146th Division logistics base “east of Nahariya.” The 146th Division is one of several IDF divisions fighting in Lebanon. The group also claimed to target a base near Afula, which it referred to as the “Amos base.” Hezbollah claimed the “targeted Amos base is used to form transportation in the northern region and is a central hub in the readiness of the [Israeli] Technology Division.”

The same claims were repeated by Iran’s IRNA state media. The report there said that Hezbollah said this was its first attack targeting the Kirya in Tel Aviv. Again, it’s worth noting that there was no evidence that this attack happened in Israel. “Hezbollah said the base serves as the headquarters of the Israeli Ministry of War [Defense Ministry] and general staff, the war management room, and the air force’s military control and oversight authority in Tel Aviv.” Hezbollah claimed it used a “squadron” of drones in this attack. “Hezbollah also said it targeted the logistical base of the Israeli army’s 146th Division north of the village of Sheikh Dannon, east of Nahariya, with attack drones,” IRNA reported. This is the same message Hezbollah put out to other pro-Iran media.

Hezbollah is paying close attention to Israeli reactions. Al-Mayadeen media, which supports Hezbollah, said that Israel is perceiving these attacks as “achievements” by the Iranian-backed group. The Al-Mayadeen reports also included the same claims from Hezbollah about targeting Tel Aviv.

More sirens sounding in central Israel, including Tel Aviv 

The IDF said that sirens sounded in central Israel at 5:46 pm on November 13. “Following the sirens sounded a short while ago in a number of areas in central Israel and in the Carmel area, approximately five projectiles were identified crossing from Lebanon into Israeli territory. Some of the projectiles were intercepted by the IAF; fallen projectiles were identified.” At 4:37 pm, sirens sounded in central Israel on November 12. The IDF said, “Following the sirens that sounded in numerous areas in central Israel, the IAF intercepted three projectiles that crossed from Lebanon.” At 6:04 am, sirens also sounded on November 11.

“Following the sirens that sounded in the Shfelat Yehuda, Yehuda, and Lakhish areas of central Israel, the IAF intercepted one projectile that approached Israel from the direction of Yemen,” the IDF said. On Friday, November 8 the IDF also said at 5:36 pm “following the sirens that sounded a short while ago in several areas in central and northern Israel, five projectiles were identified crossing from Lebanon into Israeli territory. Most of the projectiles were intercepted, and some fell into open areas. A fallen projectile was identified in the Western Galilee.”

END

ISRAEL SYRIA/THURSDAY MORNING

Huge strikes inside Syria hitting PIJ headquarters. Israel may need to annex part of Syria if Assad does not remove these terrorists from his country

(REUTERS)

IAF strikes PIJ headquarters embedded in Syria’s Damascus

Israeli army radio said the targets of the attack in Damascus were assets and the headquarters of the Palestinian terrorist group Islamic Jihad.

By REUTERS, JERUSALEM POST STAFFNOVEMBER 14, 2024 14:39Updated: NOVEMBER 14, 2024 16:50

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-829105&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20241113_65daa3e3cf0b9a2ec60aab1570945340a3e0c61a&useBunnyCDN=0&themeId=140&unitType=tts-player

IAF fighter jets struck commander centers and terrorist infrastructure belonging to the Palestinian Islamic Jihad terror group in Syria’s Damascus, the military confirmed on Thursday afternoon. 

Fifteen people were killed and 16 injured in Israeli attacks on a number of residential buildings in suburbs of the Syrian capital Damascus on Thursday, state news agency SANA reported, citing a Syrian military source.

One building was located in the Damascus suburb of Mazzeh and the other in Qudsaya, west of the capital.

Israeli army radio said the targets of the attack in Damascus were assets and the headquarters of the Palestinian terrorist group Islamic Jihad.

An IDF spokesperson confirmed later on Thursday that IAF fighter jets struck military buildings and headquarters of the Islamic Jihad terror organization in Syria. The PIJ terror group was credited with assisting Hezbollah in its efforts to target the State of Israel under Iranian direction.

The military further accused the Syrian regime of protecting the terror group. 

Commanders in Lebanon’s Hezbollah armed group and Iran’s Revolutionary Guards based in Syria have been known to reside in Mazzeh, according to residents who fled after recent strikes that killed some key figures from the groups.

Mazzeh’s high rise blocks have been used by the authorities in the past to house leaders of Palestinian factions including Hamas and Islamic Jihad.

Why would Israel strike Syria?

Israel has been carrying out strikes against Iran-linked targets in Syria for years but has ramped up such raids since last year’s Oct. 7 attack by Palestinian group Hamas on Israeli territory that sparked the Gaza war.

Since Hamas’s massacre of 1200 people in southern Israel, the Jewish state has faced attacks from numerous Iran-backed terror groups in the region; including Hezbollah, the Houthis, and militia groups in Iraq.

end

I

ISRAEL/IRAN

Iran says willing to hold nuclear talks, but not ‘under pressure and intimidation’

Iran says it is willing to hold nuclear talks, but not ‘under pressure and intimidation’

Iran’s Foreign Minister Abbas Araghchi (R) and International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi pose for a photo before their meeting in Tehran on November 14, 2024. (Photo by Atta KENARE / AFP)

Iran says it is willing to hold nuclear talks, but will not negotiate “under pressure and intimidation” as International Atomic Energy Agency chief Rafael Grossi met Iran’s top diplomat.

The crunch nuclear talks in Tehran are taking place weeks before US President-elect Donald Trump takes office.

During his first term in the White House from 2017 to 2021, Trump was the architect of a “maximum pressure” policy that reimposed sweeping US economic sanctions that had been lifted under a 2015 nuclear deal.

Grossi, who arrived in Tehran late yesterday, is expected “to negotiate with the country’s top nuclear and political officials,” Iran’s official IRNA news agency reports.

Grossi described his meeting with Foreign Minister Abbas Araghchi as “indispensable” in a post on X. Araghchi was Iran’s chief negotiator in the talks that led to the 2015 deal.

For his part, Araghchi said the meeting was “important & straightforward” and renewed Iran’s commitment to the nuclear Non-Proliferation Treaty (NPT).

“We agreed to proceed with courage and good will. Iran has never left the negotiation table on its peaceful nuclear program,” he says in his post.

Araghchi said Iran was “willing to negotiate” based on the “national interest” and “inalienable rights,” but was not “ready to negotiate under pressure and intimidation.”

Grossi also met the head of Iran’s Atomic Energy Organization, Mohammad Eslami, the Tasnim news agency reports.

Later, the IAEA chief is expected to meet President Masoud Pezeshkian.

END

ISRAEL/ HEZBOLLAH/THURSDAY MORNING

Strike hits Beirut after IDF evacuation warning

By AFP

Smoke rises from the site of an Israeli airstrike targeting the Al Ghobeir neighborhood in southern Beirut on November 14, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)

An airstrike hit the southern suburbs of the Lebanese capital Thursday after an Israeli warning to evacuate parts of the Hezbollah bastion, images show.

A plume of gray smoke rose over the area. Shortly before the strike, Israel had issued a warning to residents to evacuate their homes.

“You are located near Hezbollah facilities and interests against which the (Israeli military) will operate in the near future,” army spokesman Avichay Adraee said in a post on X that included a map identifying buildings in the Shouaifat al-Omrousiya and Ghobeiry areas.

END

//ISRAEL/USA //HOSTAGES

White House: Biden raised issue of US hostages held in Gaza during meeting with Trump

Sullivan says outgoing administration sent ‘signal’ to Trump transition team that it’s ready to collaborate in order to reach a deal; POTUS meets families of remaining US hostages

By Jacob Magid FollowToday, 2:54 am

US President Joe Biden meets with US President-elect Donald Trump in the Oval Office of the White House, November 13, 2024, in Washington. (AP Photo/Evan Vucci)

US President Joe Biden raised the issue of the American hostages still being held in Gaza during his Oval Office meeting on Wednesday with President-elect Donald Trump, US National Security Adviser Jake Sullivan said.

The outgoing administration has also sent a “signal” to the Trump transition team that it is prepared to collaborate in order to secure a hostage deal, Sullivan said during a press briefing.

The top Biden aide said the American hostage families urged such collaboration when he met with them on Tuesday, adding that his answer to them was an “emphatic yes” and that the current administration will use every day it has left to work for the return of the captives held by Hamas their loved ones.

Trump separately told reporters that he and Biden “talked very much about the Middle East” during their meeting.

“I wanted to know his views on where we are and what he thinks. And he gave them to me, he was very gracious,” Trump said. In a speech at the Republican National Convention in July, Trump warned those holding American hostages that they will “pay” if they’re not returned by the time he enters office. He has also repeatedly made a point of speculating that many of the hostages are no longer alive.

Later Wednesday afternoon, Biden met the families of the seven remaining hostages American hostages. The US president has met with the group several times since Hamas’s October 7, 2023 attack sparked the ongoing war in Gaza, most recently with Prime Minister Benjamin Netanyahu at the end of July.

Prime Minister Benjamin Netanyahu (R) and US President Joe Biden (L) meet with families of American hostages at the White House, July 25, 2024. (Amos Ben Gershom/GPO)

Neither side issued a readout from the latest meeting as of Wednesday evening.

During their meeting on Tuesday with Sullivan, the American hostage families urged the Biden administration to work with their counterparts on the Trump transition team in order to secure a hostage deal before the president-elect enters office in two months.

“Our requests… of both administrations right now is that they work together, not to prepare the Trump administration for taking office in late January, but rather to get this done now in this unique moment,” hostage Sagui Dekel-Chen’s father Jonathan told The Times of Israel.

If the sides wait until Trump enters office on January 20 to strike a deal, “there’s a very real possibility that none of the hostages will remain alive, and it will be nearly impossible to retrieve the remains of those who have been murdered,” Dekel-Chen warned.

Roughly half of the remaining 101 hostages are believed to still be alive.

He faulted the Israeli government for “abandoning” the hostages for more than 400 days, but Dekel-Chen asserted that the Biden administration has done “everything in its power” to negotiate a deal, amid pushback from both Israel and Hamas.

Jonathan Dekel-Chen, center, father of American hostage Sagui Dekel-Chen, along with other families of hostages in Gaza, speaks with reporters following their meeting with President Joe Biden and Israeli Prime Minister Benjamin Netanyahu at the White House in Washington, Thursday, July 25, 2024. (AP Photo/Stephanie Scarbrough)

While they’re in Washington this week, the families of the American-Israeli hostages were also working to secure additional meetings with some of Trump’s recently announced nominees along with Republican lawmakers, given that the GOP will likely be in control of both houses of Congress next year.

Earlier Wednesday, Channel 13 reported that the IDF’s hostage point man Maj. Gen. Nitzan Alon recently warned cabinet ministers that “time is short and conditions are deteriorating” for the captives.

According to the network, Alon said “stagnation” on the issue cannot be accepted. He noted that Hamas has “taken a beating everywhere” in Gaza, that “winter is arriving and conditions of the hostages are deteriorating.”

The general was quoted saying the IDF’s achievements have created conditions for a deal.

This was also the stance voiced last week to hostage families by recently ousted defense minister Yoav Gallant, who suggested that Netanyahu has kept the war going for political reasons, not due to security concerns, preventing a ceasefire and hostage release deal.

In quickly leaked remarks from a Likud faction meeting late last month, Netanyahu can be heard ruling out ending the war in exchange for the hostages, in what has further complicated negotiations. His critics have claimed his refusal to end the war stems from concerns that this would lead to the collapse of his coalition, which includes far-right elements who want the fighting to continue and for settlements to be established in northern Gaza.

Activists carry a message for US President Joe Biden as relatives of hostages held by Hamas in the Gaza Strip and their supporters call for their immediate release and to protest against Prime Minister Benjamin Netanyahu’s government, in Tel Aviv on August 24, 2024. (AP Photo/Maya Alleruzzo)

While US officials have told The Times of Israel that the US has privately fumed at Netanyahu for adding conditions to an Israeli proposal that scuttled a deal in July, Washington has publicly placed more of the blame on Hamas for the ongoing impasse.

US Secretary of State Antony Blinken blasted Hamas’s rejection of recent proposals for a short-term deal in remarks to reporters on Wednesday, adding that the terror group’s refusal to engage in recent negotiations is what led Qatar to tell Hamas’s officials in Doha to leave the country. No timeline has been given for the Hamas leaders departure, however.

And while Blinken stressed Israel’s responsibility to surge humanitarian aid throughout Gaza, he called out the international community for failing to hold Hamas responsible for the continuation of the war. “It’s extraordinary to me that from almost day one, there is no focus on Hamas and almost deafening silence around the world on Hamas.”

END

ISRAEL/USA/OPINION

(JERUSALEM POST)

A tale of two worlds: Republicans and Democrats after the US election – opinion

Meanwhile, the losing Democrats have turned the rifles on each other, seeking blame, but ignoring the larger reasons and implications of their decisive defeat.

By DOUGLAS ALTABEFNOVEMBER 14, 2024 03:17

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fopinion%2Farticle-828999&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241113_65daa3e3cf0b9a2ec60aab1570945340a3e0c61a&useBunnyCDN=0&themeId=140&unitType=tts-player

Perhaps it is inevitable that the winners take their victory lap and losers stare at the ground wondering what went wrong. But this time seems different. The winning Republicans are not only not gloating, but rather are trying to see something more deep-seated, structural and transformational in their victory.

Meanwhile, the losing Democrats have turned the rifles on each other, seeking blame, but ignoring the larger reasons and implications of their decisive defeat.

From Trump on down, there seems to be a realization that something larger is going on. The Republican Party bears no resemblance to itself since at least the end of World War II. It has become the workingman’s party, the party of the little guy, the breadwinners, the parents, the regular people of all races, creeds, religions and ages.

What is binding these people together is not the force of personality of a Donald Trump, but rather what he stands for. It is the party of renascent patriotism, an unabashed willingness to believe in God, and an overwhelming desire to put America back on the track of can do, instead of identity-based aggressiveness.

Trump sincerely connects with these aspirations. Making America great again also entails decoupling it from policies and mindsets that have caused the country to go off the rails.

Looking back 100 years from now, I venture to bet that historians will shake their heads at the insanity of transgender surgical brutalities, much like we look back at Eugenics today and wonder what these so-called leading lights were thinking.

Victory sparks hope for a reinvigorated American vision

THOSE OF us who now have a critical distance from America but maintain a rooting interest in it, look at this blossoming of awareness and see Republicans suddenly connecting the dots of possibility and potential. Trump certainly shares this mindset, as evidenced by his poignant statement that perhaps God spared his life for a reason.

Hopefully, we will see a mission-driven desire to re-enshrine the values and policies that made America the great nation it became, offering opportunity to all and bringing people together instead of ascribing blame and goodness based on one’s identity. Trump supporters are waking up to the reality that the US military has become DEI infected, resulting in unfilled quotas for soldiers and lower than needed supplies of critical munitions.

There is a clear recognition that the open borders of the Biden administration have brought crime, civic ruin and economic displacement for legal lower-income Americans. There is the realization that billions have been squandered on sanctimonious climate-directed initiatives that have not succeeded in anything except adding to the debt and deficits of the US government.

Now, in the wake of a historic victory, there is a strong conviction to do something about it. Ironically, Trump’s status as a lame duck (since this must be his final term) is liberating, not enervating. Trump will focus on his signature issues and initiatives, and his victory showed his ability to bring the strong swath of middle and working class America along with him.

---

---

MEANWHILE, back at the clubhouse, the Democrats’ self-recrimination offers a great view of how they have misread and misunderstood the mood and mindset of the great majority of Americans. Rather than contemplating their severance from regular people, the backbone of the post war Democratic Party, Democrat solons are pointing fingers, looking for the smoking gun in the mistakes and malfeasance of one or another player.

This attitude of “but for the mistakes of (fill in the blank) we would have won,” has blinded Democrats to the deeper reality of what the election represented. This is a reality that they will not want to engage with, because it questions many of their priorities, pillars and postures.

So long as Democrats secretly blame the electorate for not “getting it,” they will continue to be marginalized and spurned. The election was not just a victory for Trump and the Republican Party: It was an awakening for Americans who were empowered and were able to express the conviction that the country was in dire need of a directional correction.

Trump is not approaching the presidency the same way he did in 2016. He is more knowledgeable and savvy as to the workings of the system. He understands that he did not drain the swamp nor uproot the deep state last time, but he is surrounded now by professionals who are intent on doing just that this time around.

Trump clearly identified and embraced the working man, the regular guy, and during the next four years, we should expect that he will be focused on ameliorating, elevating and advancing the interests of these critical but usually ignored Americans.

One senses an excitement reminiscent of the election of John Kennedy, and of Ronald Reagan’s “Morning in America.” Trump has energized, encouraged and empowered regular people to see an America not in inevitable decline, but capable of a bracing and palliative correction and restoration.

Above all, Trump has brought back optimism to the American discourse. The next four years could be very exciting ones for America.

The writer is the chairman of the board of Im Tirtzu and a director of the Israel Independence Fund.

end

Israel/West Bank/USA

Israel may have to annex the West Bank (Judea and Samaria) as a way to stop the rocket fire

(zerohedge)

West Bank Annexation ‘Of Course’ A Possibility, Says Trump’s Israel Envoy Pick Huckabee

Wednesday, Nov 13, 2024 – 10:10 PM

Mike Huckabee, announced Tuesday as the incoming Trump administration’s designated US Ambassador to Israel, spoke to Israel’s Army Radio in a short interview Wednesday morning.

He issued some surprisingly bold statements, amid controversy from some corners of US Congress who are alarmed at the choice, given he has long been among the most staunch and hardline supporters of Israel. He spelled out that he is on board with a complete Israeli annexation of the occupied West Bank, if that’s what Trump policy leaders decide.

“I’m kind of in shock. It’s been an unusual and wonderful day all at the same time. And I’m just incredibly honored that the president would ask me to serve in this capacity,” Huckabee said at the start of the interview.

The Israeli Army show host probed and pressed him on what might be the most forward-looking changes that President-elect Donald Trump might bring to US-Israel relations.

Currently, there are a handful of hardline Israeli ministers who have gone so far as to call for declaring the West Bank as Israeli sovereign territory.

Among the most outspoken are Finance Minister Betzalel Smotrich and National Security Minister Itamar Ben-Gvir. Smotrich recently declared that “now is the time” to declare Israeli sovereignty over Palestinian territories, especially the West Bank.

Huckabee in the Wednesday morning interview, which appears to be his first since being tapped as Israeli ambassador, began with “I have been, as you know, a frequent visitor to Judea and Samaria.” His reference was to what is internationally known as the West Bank. Israel chooses to use the ancient biblical names of Judea and Samaria.

“I also very much believe that the people of Israel deserve a secure and safe country, and anything I can do that will help accommodate that is going to be a great privilege for me,” he added.

But that’s when Army Radio’s Yanir Kozin – sensing that Huckabee was choosing his words and response very carefully, again pressed Huckabee. The former Arkansas governor was asked what his true opinion on the matter of Israel taking over the West Bank, and he responded as follows:

“Well, of course. And you know, I won’t make the policy. I will carry out the policy of the president. But he has already demonstrated in his first term that there’s never been an American president that has been more helpful in securing, uh, an understanding of the sovereignty of Israel from the moving of the embassy, recognition of the Golan Heights and Jerusalem as the capital. No one has done more than President Trump. And I fully expect that will continue,” said Huckabee.

As for the question of recognition of any future settlements in the Gaza Strip, where the army is in the midst of a more than year-long anti-Hamas operation, Huckabee explained, “Well, I haven’t had time to process that…As I say, today has been a pretty intense day of just fielding hundreds, literally hundreds of calls, emails, text messages.”

He continued, “So, you know, I don’t want to make any comments about policy because those won’t be mine to make. That’ll be the president’s. And it will be my job to carry out the policy that he prescribes.”

Interestingly and controversially, some Israeli officials have hinted at Tel Aviv’s potential pursuit of a ‘Greater Israel’ project – something which has been talked about openly since the 1980s. American neocon policy officials have also talked about this possibility since the 1990s.

A French language documentary recently got Smotrich on record as strongly suggesting he would like to eventually see Israel’s border expand to Damascus: 

Smotrich stated that “it is written that the future of Jerusalem is to expand to Damascus,” adding ominously “only Jerusalem, until Damascus.”

Such rhetoric from top-ranking Israeli officials is sure to only perpetuate the war. Israel is not only at war in Gaza, but is conducting a ground and aerial offensive in southern Lebanon, with strikes extending even into the north and central of the country, with heavy strikes on Beirut. The last week has also witnessed at least four significant air raids of Syria as well, mostly focused on the Damascus suburbs, where Israel says Iran’s military has a presence.

end

ISRAEL/HEZBOLLAH

(Times of Israel)

IDF: Rocket launcher positioned in southern Gaza humanitarian zone destroyed in airstrike

By Emanuel Fabian

An IDF-provided graphic showing the location of a rocket launcher positioned in the Israeli-designated ‘humanitarian zone’ in the southern Gaza Strip that was hit in an airstrike on November 13, 2024. (Israel Defense Forces)

A rocket launcher positioned in the Israeli-designated “humanitarian zone” in the southern Gaza Strip was destroyed in an airstrike earlier today, the IDF says.

The launcher was loaded and primed for an imminent attack on Israel, according to the military.

Before carrying out the strike in the humanitarian zone, where the vast majority of the Palestinian population in Gaza is currently residing, the IDF says it carried out steps to mitigate civilian harm.

The steps included issuing warnings to civilians in the area to evacuate, as well as using a precision munition and aerial surveillance, the military says.

The IDF says secondary blasts were seen following the strike, indicating that weapons were stored there.

Palestinian media published footage of a strike in the humanitarian zone earlier today, which appears to have been the strike on the launcher.

لحظة استهداف الطائرات الإسرائيلية خيام النازحين في المنطقة الإنسانية الآمنة بغرب خان يونس، جنوب قطاع غزة. pic.twitter.com/FMdTTehG9N

— أنس الشريف Anas Al-Sharif (@AnasAlSharif0) November 13, 2024

END

ISRAEL/HOUTHIS/USA

US military says it conducted strikes against Yemen’s Houthi rebels

By AP

DUBAI, United Arab Emirates — The US military says it has conducted several days of strikes targeting Yemen’s Houthi rebels.

The strikes included US Air Force and US Navy aircraft, including the Navy’s F-35C stealth fighter jet, it says Thursday.

The military also released video showing a strike by an MQ-9 Reaper drone on a mobile missile launcher placed on the back of what appeared to be a truck. A person standing next to the launcher is seen running away after the strike.

“This targeted operation was conducted in response to the Houthi’s repeated and unlawful attacks on international commercial shipping, as well as US, coalition and merchant vessels in the Red Sea, Bab al-Mandeb Strait and the Gulf of Aden,” the US military’s Central Command says. “It also aimed to degrade the Houthi’s ability to threaten regional partners.”

The strikes happened Saturday and Sunday.

The Houthis launched an attack this week targeted two US Navy destroyers entering the Red Sea. The Americans said they “engaged and defeated” eight bomb-carrying drones, five anti-ship ballistic missiles and four cruise missiles that the Houthis used to target the vessels.

END

UNRWA/GAZA/ISRAEL

Ridiculous!!

UNRWA schools in Gaza: Principals, staff identified as members in terror units – report

A new report highlights the involvement of UNRWA educational staff in Hamas militant activity, inflammatory and inciting ‘educational’ material.

By OHAD MERLINNOVEMBER 14, 2024 16:16Updated: NOVEMBER 14, 2024 17:59

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-829128&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241114_225eea93a0f895c4b9661c69e2549a79309125bd&useBunnyCDN=0&themeId=140&unitType=tts-player

In July, Israeli intelligence published an expose showcasing that over 10% of UNRWA’s senior education staff in Gaza were members of Hamas or Islamic Jihad. 

The findings, shared with UNRWA as well, were quoted as casting a dark shadow over the organization’s claims of providing neutral and non-extremist education to Palestinian children.

Now, a detailed investigation by IMPACT-se has identified twelve UNRWA school principals and deputy principals as active members of militant organizations, with many holding commanding positions in terror units. 

“This discovery directly contradicts UNRWA chief Phillipe Lazzarini’s recent assurances to the UN General Assembly about his agency’s commitment to tolerant and anti-extremist education,” said a spokesperson from IMPACT-se, speaking with The Jerusalem Post.

‘Bus bombing as a barbecue party’

IMPACT-se’s investigation focused on five UNRWA schools, each led by individuals with confirmed members of Hamas’ military wing. For instance, at Al Zaytun Boys Preparatory and Elementary Schools, principal Mohammad Juma Shuwaideh served as a Squad Commander in Hamas’s military wing’s Gaza Brigade. 

Similarly, both the principal and deputy principal of Al-Maghazi Boys Preparatory School B, Khaled Said Mustafa Al-Massri and Ahmad Samir Mahmoud El-Khatib, respectively, operated as squad commanders in Hamas’ Khan Yunis Brigade.

One of the most alarming findings was the discovery of Hamas tunnels beneath two of these educational institutions – Al-Maghazi Boys Preparatory School B and Al-Zaytun Boys Preparatory School A. 

“This physical evidence of militant infrastructure directly beneath classrooms raises serious questions about the exploitation of educational facilities for military purposes by Hamas,” added the spokesperson.

The investigation of the school materials revealed deeply concerning educational practices within these schools. 

At Al-Zaytun School, fifth-grade students were taught to glorify Dalal Mughrabi, the terrorist responsible for the 1978 Coastal Road Massacre that claimed 38 Israeli lives. 

---

---

Classroom materials presented Mughrabi as a “combat leader” and “hero,” encouraging students to name their children and streets after her.

The educational content extends beyond historical revisionism to active incitement. 

UNRWA-branded examination materials include questions stating that “Liberating the Al-Aqsa Mosque and making sacrifices for it is a duty for all Muslims.” At Al-Maghazi School, teaching materials celebrated violence, including a disturbing reference to a firebomb attack on an Israeli bus as a “barbecue party.”

The manipulation of educational content appears systematic and crosses multiple subject areas. 

At Ahmed Abdel Aziz School, maps erase Israel entirely, showing the whole territory as Palestine. 

Even science lessons are weaponized – a unit on ‘liquid solutions’ uses hunger strikes as teaching metaphors, complete with illustrations of shackled Palestinian prisoners and equations forming maps that exclude Israel.

Social media platforms associated with these schools further amplify these messages. 

Al-Nuseirat School’s official Facebook group shared examinations that deny Israel’s existence and include grammar exercises based on militant phrases such as “O son of Palestine, fight your enemy courageously.” 

Similar content appears on Al-Mughraqa School’s social media, where Israeli cities are consistently portrayed as Palestinian territories.

‘Contributing to the perpetuation of the conflict – rather than solving it’

“What makes these findings particularly troubling is UNRWA’s apparent inaction despite prior warnings,” added the spokesperson. 

“In March, IMPACT-se presented UN Undersecretary General Catherine Colonna with a comprehensive 245-page dossier detailing evidence of incitement to violence and antisemitism in two of these schools. Yet, no meaningful changes were implemented.”

“The implications of these findings extend far beyond educational concerns,” they added.

“These UNRWA employees, who have been shaping the minds of thousands of Palestinian children, have continued to receive salaries funded by international taxpayers, even after the October 7 attacks. 

This raises serious questions about the accountability of international aid and its potential misuse.”

The spokesperson continued: “Our investigation suggests that rather than isolated incidents, these cases represent a systemic problem within UNRWA’s educational framework in Gaza.

The combination of Hamas-affiliated leadership, militant-influenced curriculum, and the physical presence of terror infrastructure within school grounds points to a deeply entrenched problem that requires immediate international attention.

“This investigation comes at a critical time when UNRWA’s role and effectiveness are under intense scrutiny, and a failure of the organization to address these issues, despite repeated warnings and evidence, raises fundamental questions about its ability to fulfill its mandate of providing neutral, quality education to Palestinian children. 

The findings of this investigation suggest that UNRWA’s educational system in Gaza may be contributing to the perpetuation of conflict rather than fostering peace. 

With terrorist organizations apparently wielding significant influence over educational content and administration, the international community faces urgent questions about how to ensure that humanitarian aid and educational support truly serve their intended purposes without being co-opted by militant groups.

IMPACT-se’s CEO Marcus Sheff said, “We are deeply concerned, although unsurprised, by the ongoing revelations of terror links within UNRWA’s educational system, as uncovered in IMPACT-se’s latest report.”

“UNRWA has repeatedly failed to act despite mounting evidence and repeated warnings of the deep influence of terror groups on UNRWA’s schools. This is not just about accountability but about protecting young minds from an education that fuels hatred and extremism. Once again, it is evident that UNRWA’s education system is not fit for purpose,” he added

TURKEY/ISRAEL

just rhetoric as goods continue to be exported by Turkey to Israel.

(zerohedge)

Erdogan Hails Russia & China For Backing Arms Embargo On Israel

Thursday, Nov 14, 2024 – 02:45 AM

Earlier this month Turkey submitted a letter to the United Nations calling for a complete arms embargo on Israel, charging that its military is committing genocide against Palestinians in Gaza.

Turkish President Recep Tayyip Erdogan has presented a full blockade on weapons as an ‘effective solution’ for ending the war in Gaza and achieving peace. Notably, among at least 52 countries to cosign that letter are Russia and China.

Erdogan on Wednesday highlighted the importance of the UN letter, warning that Israel “will become more and more aggressive if arms and ammunition supplies continue.” 

He is lobbying the international community to sign onto the ban, and touting that powerful BRICS countries like Russia and China are leading the way.

In fresh comments made after visiting Saudi Arabia and Azerbaijan, Erdogan described, “China and Russia have both said that Israel’s attacks are unjust and illegal. They also talk about the need to stop the attacks and settle the issue diplomatically.”

“Russia and China have signed our joint initiative calling on the UN to take measures to stop the supply of arms and ammunition to Israel. This is an important step,” he continued, as cited in Anadolu news agency.

“The humanitarian situation in Palestine and Lebanon will continue to deteriorate daily if Israel is not stopped. As long as humanitarian aid is not freely delivered, people will die there every day due to lack of medicine, hunger, thirst and merciless attacks,” Erdogan added.

Turkey-Israel relations have fallen to their lowest point in modern history, and an extensive ban on Turkish exports to Israel has remained in place; however, some analysts have highlighted that some materials are getting through and that top Erdogan officials are looking the other way. Several Wednesday reports have said Turkey has officially cut ties with Israel altogether…

President Recep Tayyip Erdogan announced that Turkey has officially severed relations with Israel, according to reports in Turkish media.

News outlet Medya Ege reported Erdogan to have said, “We, as the State and Government of the Republic of Turkey, have cut off relations with Israel. We do not have any relationship with Israel at this point. Period.” —Newsweek

Given that in the US, President-elect Trump is stacking his foreign policy apparatus with pro-Israel officials, Turkey is set to possibly have rocky relations with the US moving forward as well.

However, Erdogan has expressed hope that Trump will will take a significantly different approach to the Middle East during his second term. One key issue remains US support to the Kurds of northern Syria, and another is America’s policy on Gaza.

Erdogan is very malicious.

He claims to have cut trade with Israel, but here are some live tracking of ships from Turkey, faking their destination on the AIS system but heading to Israeli ports. https://t.co/bgaBv9vAYO pic.twitter.com/iGe1BnDZtR

— MenchOsint (@MenchOsint) November 13, 2024

“Our hope is that Trump takes very different steps towards the region this term because the messages being given from time to time concern us,” Erdogan told reporters after leaving Baku.

But one area where Trump could work closely with Turkey in the near future and moving forward is Ukraine. Turkey has been key to the only successful negotiated deal of the war – the grain export deal allowing for Ukrainian products and Black Sea ships to safely reach global markets.

end

/RUSSIA/USA//UKRAINE

Trump wants peace between Russia and Ukraine and is willing to give up the DonBass

(zerohedge)

Trump Expected To Appoint Ukraine Peace Envoy ‘Soon’: Fox

Wednesday, Nov 13, 2024 – 04:40 PM

President-elect Donald Trump has long promised to immediately negotiate an end to the Russia-Ukraine war upon entering office. Fox News is reporting Wednesday that toward this end he may “soon” appoint a Ukrainian peace envoy to head this up.

“You’re going to see a very senior special envoy, someone with a lot of credibility, who will be given a task to find a resolution, to get to a peace settlement,” one of several sources told Fox. The person previewed that the appointment will happen “in short order.”

Fox notes that “The job is not expected to be a salaried role – from 2017 to 2019, Kurt Volker had served as special representative to Ukrainian negotiations on a volunteer basis.”

This comes amid the last couple days of new members of Trump’s future administration being announced. Many Trump supporters have observed that hawks have filled up key posts so far – with most being known especially for their stridently pro-Israel positions, such as Pete Hegseth, nominated for Defense Secretary. Steven Witkoff has also been named as special envoy for the Middle East.

Over the weekend a Washington Post report said Trump held his first phone call with Russian President Vladimir Putin wherein Trump warned the Russian leader not to escalate in Ukraine. Strangely, the Kremlin is denying that the phone call ever took place.

As for what a potential Trump peace plan for Ukraine might look like, the WSJ days ago revealed that a main option being considered would see a ‘freeze’ on the war, which to Kiev’s dismay would involve “cementing Russia’s seizure of roughly 20 percent of Ukraine” while imposing a 20-year suspension on Ukraine pursuing NATO membership.

Informal Trump adviser Elon Musk responded to a report about that plan on X, writing that “The senseless killing will end soon. Time is up for the warmonger profiteers.”

As for who might be named special envoy for Ukraine peace, it’s anyone’s guess. Most State Department veterans who have worked on the conflict are likely hawks. Thus the “old hands” are unlikely to back any plan which permanently cedes the Donbass to Russian control.

This means Trump would likely need an ‘outsider’ for his vision of enacting a rapid Ukraine ceasefire to have a chance. But it would also likely be someone commanding respect and influence among the Ukrainian and Russian sides.

As for the the Russian side, the Kremlin has signaled openness to engaging Trump on the issue. However, Moscow would likely grow cold to the idea if a well-known Russia hawk was chosen for the crucial spot. Kremlin officials are without doubt watching Trump’s nominations closely, as the future trajectory of the conflict could hang in the balance.

https://embed.polymarket.com/market.html?market=trump-wins-ends-ukraine-war-in-90-days&features=volume&theme=light

END

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

A MUST READ!!

As Cancer Rates for Young Adults Continue to Climb, Are Doctors ‘Dancing Around the Elephant in the Room’? • Children’s Health Defense

	12:26 PM (19 minutes ago)
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GLOBAL ISSUES

MARK CRISPIN MILLER

DR PAUL ALEXANDER

Fluoride in American water supply, is it safe? McCullough asks important questions & suggests MAHA to slow down & not get ahead of skis, writing “US Government Investigation and Scientific Statements

Concerning Community Water Fluoridation MAHA Should Slow Down, Frame the Issue, Convene Stakeholders, Build Consensus, then Come to Sound Public Health Policy Decisions” see stack

Dr. Paul AlexanderNov 14

READ IN APP

What say you as to the position McCullough takes? e.g. “Concerning Community Water Fluoridation MAHA Should Slow Down, Frame the Issue, Convene Stakeholders, Build Consensus, then Come to Sound Public Health Policy Decisions”

What are your thoughts on flouride in our public water supply?

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.

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US Government Investigation and Scientific Statements Concerning Community Water Fluoridation

MAHA Should Slow Down, Frame the Issue, Convene Stakeholders, Build Consensus, then Come to Sound Public

SLAY NEWS

The latest reports from Slay News

FDA Advances Bill Gates’ ‘Replicon’ mRNA Bird Flu ‘Vaccine’The Biden-Harris administration’s U.S. Food and Drug Administration (FDA) has given the green light to advance a new “self-amplifying” mRNA “vaccine” for “bird flu.”READ MORE

Pope Francis Demands Global ‘Financial Architecture’ to Fight ‘Climate Change’Pope Francis has demanded that governments of sovereign nations around the world join forces to establish a global “financial architecture” to supposedly fight “climate change.”READ MORE

Elizabeth Warren Gets Schooled After Trying to Trash Pete HegsethSenator Elizabeth Warren (D-MA) ended up getting schooled after she tried to trash President Donald Trump’s choice for incoming Defense Secretary Pete Hegseth.READ MORE

Celebrity Fitness and Yoga Guru Sharath Jois Dies Suddenly at 53Yoga guru Sharath Jois, a health and fitness coach to the stars, has tragically died suddenly.READ MORE

Arizona Supreme Court Rejects Extension to ‘Cure’ Mail-in BallotsThe Arizona Supreme Court declined to extend a deadline for voters to fix errors with mail-in ballots.READ MORE

Jean-Pierre Dodges Questions on ‘Weirdness’ and ‘Awkward’ Meetings Between Biden & HarrisWhite House Press Secretary Karine Jean-Pierre appeared irritated when asked if there was any “weirdness” between President Joe Biden and his VP Kamala Harris following the election.READ MORE

California High School Teacher Put on Leave over Anti-Trump MeltdownA leftist California high school teacher has been placed on administrative leave after audio clips exposed his profanity-laced classroom rant over President Donald Trump’s re-election.READ MORE

Trump Will Shut Down Border on First Day in Office, Expert PredictsPresident Donald Trump has big plans for border security when he’s sworn back into office in January.READ MORE

Trump Announces Elon Musk & Vivek Ramaswamy Will Lead New Government Efficiency DepartmentPresident Donald Trump has announced that Elon Musk and Vivek Ramaswamy will be tasked with gutting federal bureaucracy by leading his administration’s new Department of Government Efficiency (DOGE).READ MORE

Scientific American Editor Apologizes for Smearing Trump Voters as ‘Fascists’The editor-in-chief of Scientific American has issued an apology following a backlash to her comments attacking citizens who voted for President Donald Trump.READ MORE

Melania Trump Refuses to Meet with ‘Disgusting’ Jill Biden over DOJ Raid on Mar-a-Lago HomeIncoming First Lady Melania Trump has rejected an invitation to meet with Jill Biden on Wednesday, according to reports.READ MORE

Trump Team Warns ‘Career DOJ Employees’ Plotting ‘Resistance’ of ‘President’s Lawful Agenda’ Will Be FiredPresident Donald Trump’s transition team has issued a stern warning to bureaucrats at the Department of Justice (DOJ) that they will face swift “disciplinary measures” if they are planning to oppose the “lawful agenda” of the incoming 47th POTUS.READ MORE

Justice Sotomayor Refuses Democrat Demands to Step Down So Biden Can Replace HerJustice Sonia Sotomayor is refusing to comply with Democrat demands that she step down from the Supreme Court so President Joe Biden can replace her before his term ends.READ MORE

EVOL NEWS

Trump Announces New Role for Musk, Ramaswamy in Dept of Government Efficiency – EVOLREAD MORE…

LATEST NEWS:

Report Shows New Front-Runner for Trump’s Press Secretary Spot – EVOLRead more…One of the World’s Richest Men Is Moving to America After Trump’s Landslide Victory – EVOLRead more…Dem Politician Crashes Her Car While Allegedly Drunk, Hurls Vile Insults at Responding Officer – EVOLRead more…Trump says Elon Musk will lead Department of Government Efficiency with Vivek Ramaswamy – EVOLRead more…WATCH: Lee Greenwood sets record straight on being paid by Trump campaign * WorldNetDaily * by Bob Unruh – EVOLRead more…President Trump Announces Elon Musk & Vivek Ramaswamy’s Role In New Administration! – EVOLRead more…Exclusive—Marsha Blackburn Backs Rick Scott for Senate GOP Leader – EVOLRead more…Greene does not rule out voting for Johnson despite previous move to oust him – EVOLRead more

NEWS ADDICTS

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

END

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

CANADA

END

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

EURO VS USA DOLLAR:  1.0557 DOWN 0.0027

USA/ YEN 156.00 UP 0.584 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 1.2666 UP 0.0046

USA/CAN DOLLAR:  1.4015 UP 0.0023 (CDN DOLLAR DOWN 23 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 59.44 PTS OR 1.73%

 Hang Seng CLOSED DOWN 387.64 PTS OR 1.93%

AUSTRALIA CLOSED DOWN 0.34%

 // EUROPEAN BOURSE:     ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 387.64 PTS OR 1.93%

/SHANGHAI CLOSED DOWN 59.44 PTS OR 1.73%

AUSTRALIA BOURSE CLOSED UP .36%

(Nikkei (Japan) CLOSED DOWN 185.96 PTS OR 0.48%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 2552.66

silver:$29.89

USA dollar index early THURSDAY  morning: 106.67 UP 29 BASIS POINTS FROM  WEDNESDAY’s CLOSE.

THURSDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  THURSDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.806% DOWN 5 in basis point(s) yield

JAPANESE BOND YIELD: +1.054% UP 1 AND 6/ 10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.068 DOWN 5 in basis points yield

ITALIAN 10 YR BOND YIELD 3.576 DOWN 6 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.352 DOWN 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES :   THURSDAY  

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

Euro/USA 1.0556 DOWN .0006 OR 6 basis points

USA/Japan: 155.75 UP 0.342 OR YEN IS DOWN 34 BASIS PTS//

Great Britain 10 YR RATE 4.5480 UP 1 BASIS POINTS //

Canadian dollar DOWN 29 OR 34 BASIS pts  to 1.4021

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED DOWN 7.2302 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.2405)

TURKISH LIRA:  34.35 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +1.054

Your closing 10 yr US bond yield DOWN 3 in basis points from TUESDAY at  4.422% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.595 DOWN 4 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 4.261 DOWN 2  BASIS PTS.

GOLD AT 11;00 AM 2566.20

SILVER AT 11;00: 30.37

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

London: CLOSED UP 40.86 PTS OR 0.51%

German Dax :  CLOSED UP 260.59 OR 1.37%

Paris CAC CLOSED UP 94.97 PTS OR 1.32%

Spain IBEX CLOSED UP 147.70 OR 1.29%

Italian MIB: CLOSED UP 650.64 OR 1.93%

WTI Oil price  67.39 12 EST/

Brent Oil:  70.98 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  99.50 ROUBLE DOWN 0 AND  99/100      

GERMAN 10 YR BOND YIELD; +2.352 DOWN 2 BASIS PTS.

UK 10 YR YIELD: 4.5480 UP 1 BASIS POINTS

CDN 10 YEAR RATE: 3.296 DOWN 2 BASIS PTS.

CDN 5 YEAR RATE: 3.126 DOWN 2

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0529 DOWN 0.0035 OR 35 BASIS POINTS

British Pound: 1.2666 DOWN 0.0041 OR 41 basis pts

BRITISH 10 YR GILT BOND YIELD:  4.482 DOWN 4 BASIS PTS//

JAPAN 10 YR YIELD: 1.054

USA dollar vs Japanese Yen: 156.21 UP 0.00783 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.4050 UP 0.0057 CDN dollar DOWN 57 BASIS PTS

West Texas intermediate oil: 68.63

Brent OIL:  72.38

USA 10 yr bond yield DOWN 2 BASIS pts to 4.440

USA 30 yr bond yield DOWN 5 BASIS PTS to 4.480%

USA 2 YR BOND: UP 6 PTS AT  4.3390

CDN 10 YR RATE 3.300 DOWN 5 BASIS PTS

CDN 5 YEAR RATE: 3.143 DOWN 1 BASIS PTS

USA dollar index: 106.40 UP 45 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.33 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  99.64 DOWN 1 AND  13/100 roubles

GOLD  2,570.35 3:30 PM

SILVER: 30.53 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 207.33 PTS OR 0.47%

NASDAQ DOWN 135.10 PTS OR 0.64%

VOLATILITY INDEX: 14.12 UP 0,10 PTS OR 0.21%

GLD: $237.06 DOWN 0.62 OR 0.26%

SLV/ $27,96 UP 0.20 OR 0.72%

TORONTO STOCK INDEX// TSX INDEX:UP 60.65 PTS OR 0.24%

end

USA AFFAIRS

USA TRADING TODAY IN GRAPH FORM

Fed Accompli Fail: Powell Pontification Prompts Puke In Stocks & Bonds

Thursday, Nov 14, 2024 – 04:00 PM

Inflation is not ‘going gently into that good night’.

Instead, as PPI confirmed today after CPI yesterday, it is ‘burning and raging at the dying of the light’ of the Biden/Harris days…

Source: Bloomberg

In fact – while he was more ambiguous at The Fed presser, Fed Chair Powell admitted in his remarks today that all is not completely awesome, as he warned The Fed is in “no hurry” to cut rates… and inflation’s on a “bumpy path”.

“If the data let’s us go slower, it seems like the right thing to do…”

Powell’s remarks sent rate-cut expectations notably lower – December less than 50-50 now…

Source: Bloomberg

Interestingly, minutes before Powell spoke, JPMorgan CEO Jamie Dimon dropped some tape-bombs of reality:

• *DIMON: THINK THE CHANCE OF SOFT LANDING LESS THAN OTHERS THINK
• *DIMON: “NOT SO OPTIMISTIC” THAT INFLATION WILL GO AWAY QUICKLY
• *DIMON: GROWTH IS BEST POLICY TO FIX DEFICIT PROBLEM
• *DIMON: TRUMP INHERITING INFLATION THAT MAY NOT GO AWAY QUICKLY

Goldman notes that the background remains bullish for stocks from CTAs / Buybacks / Seasonals:

• CTA: Update for Equities – buyers of S&P in all short-term scenarios as momentum remains firmly positive and realized vol has reset: flat tape: +$4.8mm to BUY (+$7.5bn SPX to BUY).
• Buybacks: We are reaching full open window. Back of envelope we estimate ~$6B/day in demand.
• Seasonality: The typical pattern is to rally into the Inauguration (1/20/2025) before topping out in February.

Source: Goldman Sachs

But, Goldman’s trading desk notes that there is a lot of selling still:

• Overall activity levels are down -15% vs. the trailing 2 weeks with market volumes up +8% vs the 10dma
• Our floor tilts -3% better for sale with both HFs and LOs leaning that way
• HFs are -7% better for sale, moderating after an earlier sell skew closer to 10% (which ranked in the 95th %-ile).  They are heavily for sale in HCare & Industrials with very modest demand for Macro Products, REITs and Energy.
• LOs are -5% better for sale.  Tech supply stands out, on a net basis larger than Comm Svcs & Industrials supply combined.  LOs are better to buy across Cons Disc, REITs & HCare

Stocks were already sinking before Powell spoke, but his reality check punched them to the lows with Small Caps clubbed like a baby seal…

The ‘Trump Trade’ saw some profit-taking today…

Source: Bloomberg

‘Most Shorted’ stocks fell once again – erasing the entire post-election squeeze higher…

Source: Bloomberg

RIVN was monkeyhammered lower after headlines that the Trump team would remove the EV tax credit

Treasury yields exploded higher on Powell’s comments, led by the short-end…

Source: Bloomberg

That prompted a major flattening in the yield curve…

Source: Bloomberg

The dollar knee-jerked higher on Powell’s comments

Source: Bloomberg

Gold ended the day unchanged, bouncing back back from continued overnight selling in Asia…

Source: Bloomberg

This pattern is similar to that seen in 2016’s sweep…

Bitcoin ended the day marginally lower after Powell’s comments (pushed down first by PPI), but found support around $88,000…

Source: Bloomberg

Crude prices also ended unchanged – seemingly running out of fuel for any breakout trades… for now…

Source: Bloomberg

Finally, does this chart – showing initial jobless claims (inverted) tumbling to six-month lows and inflation surprise data soaring – support any kind of rate-cutting cycle?

Source: Bloomberg

How pissed will Trump be if Powell’s first action is actually to hike rates?

END

MORNING TRADING

II USA DATA

Initial Jobless Claims Drop To The Lowest In 6 Months

Thursday, Nov 14, 2024 – 09:16 AM

At the exact same time that the latest PPI print came in well hotter than expected, Biden’s outgoing Dept of Labor came out revealed even more hawkish data, reporting that as the impacts of the hurricanes has largely worn off, initial jobless claims dropped last week to 217k (from 221k) – below the 220K consensus estimate – and the lowest since May.

For the second week in a row, the biggest increase in claims was in California which was not only the outlier state this month, but its claims were estimated by the DOL. On the other end, the number of initial claims dropped the most in Florida and Georgia.

In fact, both North Carolina (Helene) and Florida (Milton) have seen claims revert to pre-Hurricane norms…

Continuing claims also fell from a downward revised 1884K (vs 1892K pre revision) to 1873K, but still holding near the highest since Dec 2022.

What is also notable is that as BBG’s Michael McDonough notes, “job cut” discussions are not meaningfully increasing in S&P earnings calls:

So PPI hot, and jobless claims at a fresh six month low – not the kind of data that The Fed doves want to see to justify another rate-cut… although now that Trump is in the White House, we are confident the Fed will have far fewer scruples about calling it a “Fed Accompli” (sic) and ending its easing cycle after 2 rate cuts.

END

PPI Unexpectedly Prints Hotter Than Expected Across The Board

Thursday, Nov 14, 2024 – 08:49 AM

After yesterday’s in line – but really cooler than whispered – CPI which restored hope in a December rate cut, all eyes are on this morning’s PPI print to boost dovish hopes that the Fed’s easing cycle would remain on track. It was not meant to be, however, as the PPI came in hotter than expected across the board on both a monthly and annual basis.

Starting at the top, headline PPI rose 0.2% MoM (in line with the +0.2% expected) but September was revised higher from 0.0% to 0.1%; meanwhile on an annual basis, headline PPI rose 2.4%, higher than the 2.3% expected, with the last month also revised higher from 1.8% to 1.9%.

Unlike last month when a drop in energy prices weighed heavily on the headline PPI number, this month energy subtracted just 0.02% from the final print, the lowest detraction since July. Meanwhile, Services added a hefty 0.179% to the bottom line number.

Indeed, according to the BLS, most of the rise in final demand prices can be traced to a 0.% advance in the index for final demand services. Prices for final demand goods inched up 0.1%, the first increase in the index since July.

Taking a closer look at the components:

Final demand services: The index for final demand services increased 0.3 percent in October after rising 0.2 percent in September. Over three-fourths of the broad-based advance in October is attributable to prices for final demand services less trade, transportation, and warehousing, which moved up 0.3 percent. The indexes for final demand transportation and warehousing services and for final demand trade services also increased, 0.5 percent and 0.1 percent, respectively. (Trade indexes measure changes in margins received by wholesalers and retailers.)

Product detail:

• Over one-third of the rise in the index for final demand services can be traced to prices for portfolio management, which advanced 3.6 percent. The indexes for machinery and vehicle wholesaling; airline passenger services; computer hardware, software, and supplies retailing; outpatient care (partial); and cable and satellite subscriber services also moved higher.
• In contrast, margins for apparel, footwear, and accessories retailing fell 3.7 percent. Prices for securities brokerage, dealing, investment advice, and related services and for truck transportation of freight also declined.

Final demand goods: The index for final demand goods inched up 0.1 percent in October following two consecutive decreases. The advance can be traced to a 0.3-percent rise in prices for final demand goods less foods and energy. Conversely, the indexes for final demand energy and for final demand foods declined 0.3 percent and 0.2 percent, respectively.

Product detail:

• An 8.4-percent increase in the index for carbon steel scrap was a major factor in the advance in prices for final demand goods. The indexes for meats, diesel fuel, fresh and dry vegetables, and oilseeds also moved higher.
• In contrast, prices for liquefied petroleum gas fell 18.1 percent. The indexes for chicken eggs, processed poultry, and ethanol also decreased.

Even more problematic for the doves, however, is that core PPI jumped to +3.1% YoY (hotter than the 3.0% exp) with the prior month revised higher to 2.9% from 2.8%. This was the second hottest print going back to March 2023 with just the June outlier surge hotter than October…

… as sticky Services costs continue to rise.

The hotter than expected PPIs have pushed yields and the dollar higher, even as the market waits to see the details of what impact today’s numbers will have on the Fed’s preferred core PCE metric – according to UBS key PPI components to PCE look hot – although Bloomberg noted a big jump in air passenger services (3.2%), which suggests some upside risks (i.e., 0.3% core PCE).

The most notable takeaway from the data appears to be the increase in final demand for services in October, which is similar to the factors that increased CPI yesterday — shelter, food and energy, which are components the Fed cannot control with interest rates.

Bottom line: this is a long way from the Fed’s mandated 2%, and it’s moving in the wrong direction, something which has not been lost on the market, where Treasury curves are flattening after the data, which suggests traders are wavering over the prospects of a December rate cut. That has yet to be reflected in rates markets — bets have been trimmed but marginally, not enough to really change the swaps market outlook as of now. According to BBG’s Vince Cignarella, sizeable block trades are going through Treasuries, mostly in the five-year tenor and some ten-year tenors, which looks like positioning for higher yields and flatter curves.

III USA ECONOMIC NEWS

Gaetz resigns his seat to allow Ron DeSantis to select someone to take his place

It is going to be a tough battle for Gaetz as the Rinos are very upset. All Dems will vote against him.

(zerohedge)

Gaetz Resigns ‘Effective Immediately’ After Trump AG Pick; DC In Full Blown Panic

Wednesday, Nov 13, 2024 – 03:32 PM

Update (1905ET) According to House Speaker Mike Johnson, Gaetz has resigned effective immediately.

“I think out of deference to us, he issued his resignation letter effective immediately, of Congress,” said Johnson.

“That caught us by surprise a little bit. But I asked him what the reasoning was, and he said, well, you can’t have too many absences. So under Florida State law, there’s about an eight week period to, select and fill in a vacancy. And so by doing so today, that allows me I’ve already placed a call to Governor DeSantis in Florida and said, let’s start the clock. He’s in Italy at the moment. And so we’re going to talk first thing in the morning about this. And if we start the clock now, if you do the math, we may be able to fill that seat as early as January 3rd when we take the new oath of office for the new Congress.” (h/t @ChadPergram)

Watch:

Mike Johnson says Matt Gaetz has already resigned from Congress pic.twitter.com/gkXOFTQ44S

— Aaron Rupar (@atrupar) November 14, 2024

*  *  *

END

TRUMP TAKES KENNEDY FOR HEALTH

(the dems are going nuts)

zerohedge)

Trump Nominates RFK Jr. For HHS Secretary

Thursday, Nov 14, 2024 – 04:13 PM

President-elect Donald Trump has nominated Robert F. Kennedy Jr. to be secretary of Health and Human Services.

The 70-year-old Kennedy has been a longtime health advocate who Trump said he would let “go wild,” should he win the November 5 election.

“He’s going to help make America healthy again. … He wants to do some things, and we’re going to let him get to it,” Trump said during his victory speech. “Go have a good time, Bobby.”

In a post to Truth Social, Trump said:

I am thrilled to announce Robert F. Kennedy Jr. as The United States Secretary of Health and Human Services (HHS). For too long, Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation, and disinformation when it comes to Public Health. The Safety and Health of all Americans is the most important role of any Administration, and HHS will play a big role in helping ensure that everybody will be protected from harmful chemicals, pollutants, pesticides, pharmaceutical products, and food additives that have contributed to the overwhelming Health Crisis in this Country. Mr. Kennedy will restore these Agencies to the traditions of Gold Standard Scientific Research, and beacons of Transparency, to end the Chronic Disease epidemic, and to Make America Great and Healthy Again!

That said, Politico suggested that Kennedy “may still face a steep slope to confirmation” over his fight against overvaccination, and his book accusing former NIH official Anthony Fauci of conspiring with Bill Gates and drugmakers to sell COVID-19 vaccines.

Kennedy says he isn’t taking vaccines away from anyone – he just wants to ensure they’re safe.

Ladies and gentlemen, your new HHS Secretary, Bobby Kennedy Jr.:

"I asked God for 19 years to put me in a position where I could end the chronic disease epidemic and bring health back to our children, and in August, God sent me Donald Trump.”

MAHA 🤝 MAGA

🇺🇸🇺🇸 pic.twitter.com/1vKVSLQ4Y3

— Charlie Kirk (@charliekirk11) November 14, 2024

“I’m going to make sure scientific safety studies and efficacy are out there, and people can make individual assessments about whether that product is going to be good for them,” he told MSNBC the day after the election.

Kennedy also says he’ll recommend against adding fluoride to drinking water, as it’s “almost certainly” causing an IQ loss in children, according to some studies.

What an incredible upgrade. From weirdo cross dresser to gigachad. Who better to take on the role of Secretary of Health and Human Services than RFK Jr.? pic.twitter.com/8f0WY2p123

— Ian Miles Cheong (@stillgray) November 14, 2024

Meanwhile…

END

USA deficit explodes in first month of new fiscal year (Oct)

(zerohedge)

US Deficit Explodes: Blowout October Deficit Means 2nd Worst Start To US Fiscal Year On Record

Wednesday, Nov 13, 2024 – 06:00 PM

It is only fitting that the twilight days of the Biden admin would exhibit more of the same fakeness that defined not only all of the past four years, but certainly the fakeness of that Kamala Harris presidential campaign which had a billion dollars a month ago and ended up in failure, broke and in debt. We are talking, of course, about the relentless debt-funded spree that somehow became synonymous with economic success in the US.

According to the latest Treasury data released today, in October – the first month of fiscal 2025 – the US spent a massive $584.2 billion, a 24.3% increase from the prior year, and a record government outlay for the month of October. On a trailing 6 month moving average basis, to smooth out outliers months, the spending hit $586 billion, effectively at an all time high with just the record spending spree during covid pushing government spending higher.

Key drivers of the deficit widening included outlays in the Departments of Health and Human Services and of Defense, up 12% and 13% respectively, adjusted for calendar differences. Health spending alone jumped by $62 billion compared with the same month last year.

At the same time, the US government collected just $326.8 billion in taxes, down a massive 19% from the $403.434 billion last October, and down even more from the $527 billion in tax receipts in September ’24. As shown in the next chart, while spending continued to grow exponentially, tax receipts have flatlined, and the 6 month average in October was just $380 billion, the same as three years ago!

It’s actually worse than it looks: according to the Treausry, last year’s October tax receipts were unusually higher due to deferred tax receipts that were received that month from companies and individuals affected by disasters including wildfires in California. Taking that into account, the budget deficit this October would have been 22% higher, a Treasury official said.

In any case, netting the two means that the US deficit exploded in October to a staggering $257.5 billion, and even though this included several calendar adjustments – which explains the freak September surplus which as we said was due to calendar effects – the number was not only $25 billion more than consensus estimates of a $232.5 billion deficit, it was a staggering 4x bigger than the $66.6 billion deficit in October of 2023. Worse, it was the second highest October deficit on record, and only the budget busting October when the US was spending to prevent an all-out economic implosion, was bigger.

And putting the deficit in context, October – the first month of the fiscal year – was just shy of the biggest deficit start to a year for the US Treasury on record, with just fiscal 2021 (i.e. October 2020) bigger.

In contrast with what has been a terrifying trend for some time now, the Treasury’s debt-servicing costs only rose slightly in October. Gross interest costs totaled $82 billion in October, unexpectedly down $7 billion from $89 billion in the same month a year before.

The drop meant that LTM interest spending posted the first (very modest) sequential drop – from $1.133 trillion to $1.126 trillion –  since August 2023.

That’s because the weighted average interest rate for total outstanding debt by the end of September was 3.30%, at roughly 15-year highs, but down slightly from the month before, the second monthly decline.

However, don’t expect this decline in interest spending to persist because even though the Fed has cut rates twice since September, this has been more than offset by the surge in debt which at last check was just shy of $36 trillion, and unless Elon’s Department for Government Efficiency (DOGE) manages to somehow slash trillions in both spending, this is what US debt will look like for the next few years, guaranteeing that interest on said debt will very soon become the single largest spending category for the US government.

It's either going to work or it's not. Here is the alternative https://t.co/cHZA2wHnPB pic.twitter.com/LMEI4tISZL

— zerohedge (@zerohedge) November 13, 2024

The mindblowing figures illustrate the monumental challenge for Trump and all those promising to rein in US debt, which has exploded to 120% of GDP after four years of Biden’s “drunken-sailor” spending ways. Last night Trump tapped Elon Musk and Vivek Ramaswamy to look at ways to cut spending. Thursday’s figures showed the bulk of the outlays are in areas that are bound to be politically challenging to address, in other words, any cuts even remotely close to the $2 trillion suggested by Vivek would lead to a revolt.

END

All USA assets rising and European assets plummet as Trump ready for tariffs

(zerohedge)

EM Assets Hit By Negative Macro Backdrop Amid Trump’s Expected Tariff Flurry Sparking Strong Dollar

Thursday, Nov 14, 2024 – 07:45 AM

A Republican sweep has been priced into core markets – stronger US equities, higher Treasury yields, and a more robust dollar – largely pressuring emerging market equities and currencies lower. This time, President-elect Trump is expected to hit China with a barrage of tariffs early in his administration.

Given tariff risks and trade uncertainty, emerging market equities have been sliding as Trump’s projected protectionist trade policies, higher rates, and stronger dollar imply a negative macro backdrop for EM assets. 

On Thursday, Bloomberg’s Sebastian Boyd published a list showing Trump’s tariff risks and trade uncertainty represent a negative growth hit for the rest of the world… 

• President-elect Donald Trump’s campaign promises suggest that second-term tariffs may be very different from those in his first term — broader, steeper. Their impact will be complex and much will depend on how other countries and the EU respond. But we can extrapolate from history and make some assumptions.
• First, tariffs aren’t close to priced in yet. If Trump proceeds with what he’s vowed to do, we will see steep declines in emerging-market stocks and currencies. Equities in more developed countries will also fall, especially in Asia. Health- care stocks and US financials seem to be the best place to shelter.
• Tariffs are an inflationary tax on US imports. They push up prices, but also inflation expectations and Treasury yields. They will have negative effects on US companies and consumers, but we can assume that they will be tailored to minimize those effects.
• The impact of tariffs, even highly tailored ones, is likely to be strongly negative outside the US. After tariff announcements in Trump’s first term, the dollar gained and emerging-market currencies and stocks fell, steeply in some cases. And the negatives rolled out beyond just the targeted countries and industries.
• However, retaliatory tariffs from other countries may also be targeted to produce maximum inconvenience for the US, especially in industries like soy-farming that are strong in Trump-voting areas.
• Trump’s early experiments with taxing imports were gradual. He started with solar panels and washing machines. Then in March 2018, he imposed tariffs on steel and aluminum from a list of countries which he later expanded. 
• To measure the impact of those tariffs, I merged the S&P 500, Stoxx 600, MSCI Emerging Markets and MSCI Asia Pacific indexes, then removed the smallest 10% of companies by market capitalization, to create a universe of more than 2,000 names. I then measured share-price performance for the three- and six- month periods starting on the last day of February 2018.
• Chinese stocks saw steep losses. There are more than 400 Chinese stocks in my sample, and 38 of 59 industry sub-sectors fell in the first six months amid concerns that the trade war would widen. Chinese retailers and automakers were among the worst-affected, with a median decline of more than 30%, while apparel & textile products and medical equipment & devices escaped.
• There was a lot of collateral damage. In the interests of legibility, the chart above shows the 15 largest countries in our sample. Elsewhere, Turkish stocks fell a median 52% in the six months through August 2018. South Africa and Indonesia also had steep losses.
• In April 2019, Trump threatened a tariff on cars made in Mexico. In June, he backtracked, claiming the threats had worked. In the meantime though, the median loss on Mexican stocks was 16%. The median US stock in the sample slid 0.9%. The S&P 500 oil & gas index fell 10%.
• At the start of May that year, Trump’s administration announced tariffs on $200 billion of Chinese goods. This time the impact was more limited than it had been in 2018. Over the next three months, Chinese stocks fell a median 7.8%, then bounced back to eke a median 0.6% over a six-month period.

In a separate note, Goldman’s Tadas Gedminas and Teresa Alves told clients last week…

• This time around our expectation is that tariffs against China could be implemented relatively early in the administration, which would likely pose a challenge next year. But our prior work suggests that the market struggles to price this risk ahead of time, with most of the tariff-related price response taking place around actual announcements (as was primarily the case for CNH). This suggests that the market could still maintain the latest price action despite prevailing risks.

Since last Tuesday, the dollar has reigned supreme, while emerging markets and global stock ex-US have slipped into negative territory. 

EM asset underperformance will persist as long as the dollar remains strong. 

end

This huge auto parts company in trouble as they are set to close 700 stores

(zerohedge)

Advance Auto Cuts Outlook, Prepares 700-Store Closure 

Thursday, Nov 14, 2024 – 10:45 AM

Advance Auto Parts reported a third-quarter loss, slashed its full-year outlook, and announced plans to close stores and distribution centers by summer 2025. The top automotive aftermarket parts provider for professionals and do-it-yourself consumers was pressured by soft demand for vehicle parts, as elevated inflation and broader economic pressures left fewer consumers repairing their vehicles. 

For the third quarter ending October 5, Advance Auto reported a narrowed quarterly loss of $6 million, or 10 cents per share, compared to $62 million, or $1.04 per share, in the same quarter one year ago. Analysts tracked by FactSet had forecast a profit of 49 cents per share for the quarter, making the loss a notable surprise.

Sales fell 3% to $2.15 billion, missing the FactSet consensus of $2.62 billion. Comparable sales slid 2.3%, while higher labor costs dented margins, but only partially offset by a reduction in marketing expenses. 

For the balance of 2024, Advance Auto provided investors with a downshift in guidance and now sees comparable sales -1%, versus the previous guidance of -1% to 0%. 

Advance Auto’s board approved a restructuring plan to reduce its US footprint by 700 stores and four distribution centers by mid-2025. Plans to slash jobs were also in place, yet official figures were not given. Th company has about 5,000 stores nationwide.

“We are pleased to have made progress on our strategic actions, including the completion of the sale of Worldpac and a comprehensive operational productivity review of our business,” Shane O’Kelly, president and chief executive officer, wrote in a statement. 

O’Kelly noted, “We are charting a clear path forward and introducing a new three-year financial plan, with a focus on executing core retail fundamentals to improve the productivity of all our assets and to create shareholder value.”

Shares in New York were marginally lower in premarket trading. The company has lost 33% of its market value year-to-date (as of Wednesday’s close). Three years of steep annual losses. 

Shares are trading at 15-year lows. 

Goldman’s Kate McShane remains “Neutral” on Advanced Auto with a 12-month price target of $60. 

Meanwhile, inflationary headwinds and increasing competition from Chinese automakers have crushed the Western auto industry. 

Part suppliers such as BorgWarner and Aptiv have recently slashed annual sales forecasts due to lower vehicle production and consumers dialing back on spending. 

The takeaway appears to be consumers are opting out of repairing their cars. This comes as subprime consumers hit a proverbial brick wall. 

END

Trump set to eliminate the Electric Vehicle tax credit of $7500 in the USA. Telsa is not reliant on the tax credit for survival. However this will hurt just about every other EV maker

(zerohedge)

Trump Team To Nuke EV Tax Credit As Musk’s Price-War Endgame Looms

Thursday, Nov 14, 2024 – 01:20 PM

The final chapter of the electric vehicle price war, sparked by Tesla’s Elon Musk, hinges on President-elect Donald Trump’s plan to eliminate the $7,500 consumer tax credit. Sources with direct knowledge told Reuters that the Trump team has discussed ending the EV tax credit as part of broader tax reform legislation.

Sources indicated that Tesla – the largest EV automaker in the US and the only one not reliant on EV credits for survival – told the Trump transition committee that it fully supports the federal government ending the subsidy.

Here’s more from Reuters:

Repealing the subsidy, which has been a signature measure of President Joe Biden’s Inflation Reduction Act (IRA), is being discussed in meetings by an energy-policy transition team led by billionaire oilman Harold Hamm, founder of Continental Resources, and North Dakota Governor Doug Burgum, the two sources said.

The group has had several meetings since Trump’s Nov. 5 election victory, including some at his Florida Mar-a-Lago club, where Tesla chief executive Elon Musk has also spent considerable time since the election.

In mid-July, Trump stated at a campaign rally that he would “end the Electric Vehicle Mandate on Day One — thereby saving the US auto industry from complete obliteration, and saving US customers thousands of dollars per car.” 

On X, around that time, Musk explained to the Whole Mars Catalog why repealing the tax credit would only benefit Tesla: 

Tesla doesn't need subsidies. The other unprofitable EV makers do.

We are giving $7,500 to people who buy GAS cars with a small battery. We are capping the price of EVs, hurting the profitability of the industry.

If the EV tax credit dies I won't shed a tear for it. https://t.co/e7X6BqJqRM

— Whole Mars Catalog (@WholeMarsBlog) July 16, 2024

In October, the Alliance for Automotive Innovation, a trade group representing all automotive brands besides Tesla, penned a letter expressing to lawmakers in Congress how crucial the EV tax credit is in “cementing the US as a global leader in the future of automotive technology and manufacturing.” 

In the markets, Rivian shares tumbled by 10% in the early afternoon, while Tesla shares fell by 3.5%.

We knew the playbook in July. Here it is again: “Musk’s strategy to win the EV price war: Build the largest EV business with taxpayer dollars, popularize EVs, allow other startups and OEMs to enter the market, and then support politicians who want to end EV subsidies, crushing the competition and leaving Tesla reigning supreme.” 

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and  PERVASIVE ANTISEMITISM/WOKISM

that should do the trick. I wonder why Biden never thought of this!

Trump to universities: Stamp out antisemitism or lose accreditation

Trump added that any colleges that permit antisemitic violence will be seen as violating the Civil Rights Law.

By MATHILDA HELLERNOVEMBER 14, 2024 19:06

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fdiaspora%2Fantisemitism%2Farticle-829167&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20241114_225eea93a0f895c4b9661c69e2549a79309125bd&useBunnyCDN=0&themeId=140&unitType=tts-player

All United States universities must end campus antisemitism, or they will lose accreditation, President-elect Donald Trump promised during an antisemitism event in Washington, DC.

In order to “defeat antisemitism and defend Jewish citizens in America,” Trump said he would inform every college president that if they do not “end antisemitic propaganda,” they would lose accreditation and federal support.

“We will not subsidize the creation of terrorist sympathizers, and we’re not going to do it certainly on American soil,” he said.

Trump added that, once in the Oval Office, he would inform all educational institutions that if they permit violence or harassment against Jewish students, they will be “held accountable for violations of the civil rights law.” 

“It’s very important that Jewish Americans have equal protection under the law, and they’re going to get it.”

“At the same time, my Administration will move swiftly to restore safety for Jewish students and Jewish people on American streets.”

Trump’s actions to combat antisemitism 

In his first term as US president, Trump issued an Executive Order on combating antisemitism by adding Jews to the list of protected minority groups under Title VI of the Civil Rights Act.

Trump has also offered Rep. Elise Stefanik the position of US ambassador to the UN. Stefanik has been one of the lawmakers leading efforts against US campus antisemitism.

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 14, 2024 Issue 7370

Independent View of the News

October CPI is the expected 0.2% m/m & 2.6% y/y.  Core CPI is the expected 0.3% m/m & 3.3% y/y.   After initial rallies on the release of the October CPI Report, USZs and ESZs declined.   USZs hit a daily high of 117 11/32 at 9:17 ET.  They then tumbled to 115 29/32 (-13/32) at 10:36 ET.   ESZs traded moderately lower but sideways from 18:07 ET until they broke lower near midnight ET.  They hit a low of 5995.00 at 1:32 ET.  The rally for the European opening took ESZs to 6009.00 at 5:03 ET.  They then fell to 5995.50 at 6:58 ET.  After a moderate rebound, ESZs went vertical on the release of the October CPI Report and hit a daily high of 6030.25 at 8:42 ET.   A critical mass of traders then decided to sell; ESZs sank to a daily low of 5991.75 at 10:06 ET.  1st hour dip buyers swung into action.  ESZs methodically stair-stepped to 6035.25 at 13:02 ET.  After a modest retreat, ESZs hit a peak of 6034.75 at 13:54 ET.  When ESZs started to rollover, astute traders perceived that a virtual double top materialized.  ESZs fell to 6009.75 at 15:03 ET.   The last-hour rally took ESZs to 6027.25 at 15:41 ET.  But there are too many longs in the known world.  ESZs tumbled to 6008.00 at 15:56 ET.  ESZs were 6014.25 at the NYSE close.   Bitcoin (or is it Bitcon?) jumped to a new high while December gold sank as much as $27.50.  As we keep harping, someone big is trying to cover a long gold/short Bitcoin gambit.   @RealEJAntoni: Despite a doubling in the cost of homeownership since Jan ’21, the CPI’s proxy has increased just 23.5% in that same time – one of many examples of how official gov’t metrics have grossly underestimated inflation over the last 4 years: https://x.com/RealEJAntoni/status/1856751963523653822     The rent metric in CPI suffers from a long lag, so despite rising 23.6% since Jan ’21, that doesn’t even include all of the rent price inflation that has occurred since then; private sector data show rents have, on average, increased by a multiple of this gov’t metric:  https://x.com/RealEJAntoni/status/1856756390498635973   (KC Fed President) Fed’s Schmid: extent of further rate cuts ‘remains to be seen’ https://www.reuters.com/markets/us/feds-schmid-extent-further-rate-cuts-remains-be-seen-2024-11-13/   Schmid: As I said in May, large fiscal deficits will not be inflationary because the Fed will do its job and achieve its inflation objective, though in doing so, the outcome could be persistently higher interest rates. This relationship is also at the crux of the rationale for the political independence of the central bank…  https://www.kansascityfed.org/documents/10570/2024-Schmid-DallasEnergyConference-11-13.pdf   @TaviCosta: Today, the 30-year vs. Fed funds rate spread has officially turned positive after 2 years of being deeply inverted. The yield curve is steepening significantly, with 56% of the entire Treasury curve now inverted, down from over 90% just a few months ago. This marks an important macro development, and I believe there’s likely more steepening to come. https://x.com/TaviCosta/status/1856797511538851845   US Deficit Explodes: Blowout October Deficit Means 2nd Worst Start to US Fiscal Year on Record $584.2 billion, a 24.3% increase from the prior year, and a record government outlay for the month of October. https://www.zerohedge.com/economics/us-deficit-explodes-blowout-october-deficit-means-2nd-worst-start-us-fiscal-year-record   @NewYorkFed: Our Quarterly Report on Household Debt and Credit shows total household debt increased by $147 billion (0.8%) in Q3 2024, to $17.94 trillion. Learn more: https://nyfed.org/4fG4sOw   Positive aspects of previous session The DJTA rallied smartly; the NY Fang+ Index rallied moderately.   Negative aspects of previous session Bitcon hit $93,462 on an apparent unwind of a long gold/short the con position. USZs could not hold their CPI rally and declined 15/32 for the day. ESZs and stocks struggled to hold the three rallies that appeared after the CPI report.   Ambiguous aspects of previous session The dollar rallied again.   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5986.49 Previous session S&P 500 Index High/Low: 6008.19; 5965.91   CIA official with top security clearance charged for leaking highly classified docs about Israel’s plans to strike Iran – Asif W. Rahman, who worked overseas for the agency and held a top secret security clearance, was arrested by the FBI in Cambodia on Tuesday over the leaks… https://nypost.com/2024/11/13/world-news/cia-official-with-top-security-clearance-indicted-for-leaking-highly-classified-documents-about-israels-plans-to-strike-iran/   LA Times owner @DrPatSoonShiong: Proud that we posted this letter from one of our readers  on X. When the President has won the vote of the majority of Americans then ALL voices must be heard. Opinions are just that. I will work towards making our paper and media fair and balanced so that all voices are heard and we can respectfully exchange every American’s view ..from left to right to the center. Coming soon. A new Editorial Board. Trust in media is critical for a strong democracy.   @JonathanTurley: If you searched worldwide for a concise statement of why the public is rejecting mainstream media you could not find a better reduction than the statement of Katherine Maher (NPR CEO): “I think our reverence for the truth might have become a bit of a distraction that is preventing us from finding consensus and getting important things done.” … Despite the drop in revenue and audience, NPR doubled down with advocacy journalism in selecting Maher as CEO. It has every right to do so. What it does not have a right to is a public subsidy.   McConnell right-hand man Sen. John Thune won Senate majority leader in the second round of voting.   @CollinRugg: Senator John Thune has won the Senate Majority Leader position, winning 29 votes. Thune is a known Trump critic who previously said he wishes he had a different option than Trump.     Thune: “I’m hoping we get other options [than Trump].” “People are going to have to decide whether they want to deal with all the [Trump] drama.”     “If you look at the record, in 2018, 2020, and 2022, when he’s the issue, we lose. And so I would rather have the issue be Biden and his policies. And I think the way that you do that is you get a different nominee, which is why I endorsed somebody else.”   Thune: “This Republic team is united behind President Trump’s agenda, and our work starts today.”   Trump jokes about running a third time and sends Democrats into meltdown https://trib.al/8QrwPsk   @elonmusk: The Democratic Party senate candidate in Pennsylvania is trying to change the outcome of the election by counting NON-CITIZEN votes, which is illegal.   That has been their goal all along. They are just flat-out openly doing crime now.   FBI seizes Polymarket CEO’s phone, electronics after betting platform predicts Trump win It’s “grand political theater at its worst,” the source told The Post. “They could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons.”…   “This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” the source said…  https://nypost.com/2024/11/13/business/fbi-seizes-polymarket-ceos-phone-electronics-after-betting-platform-predicts-trump-win-source/   @seanmdav: The Polymarket founder was a Harris-Walz donor, but they’re going after him anyway, probably because he didn’t sufficiently rig the platform against Trump like the corrupt intel state wanted.   Today – The October PPI Report will dictate pre-NYSE trading and early NYSE trading.  If PPI is inline or softer-than-expected, market action is likely to be similar to what occurred after the CPI report.   The fact that bonds declined for the day, and stocks struggled after an initial rally and a midday rally suggests that stocks want and need to retrench.   Expected economic data and Fed speakers: Oct PPI 0.2% m/m & 2.3% y/y; Core CPI 0.2% m/m & 3.0% y/y; Initial Jobless Claims 220k, Continuing Claims 1.869m; Fed Gov Kugler 7 ET, Richmond Fed Pres Barkin 9 ET, Fed Chair PE Powell on economic outlook 15:00 ET in Dallas   Disney is expected to report 1.10; AMAT is expected to report 2.19.   ESZs are -2.50; NQZs are -24.50; ESZs are -7/32, and Bitcoin is 89,850 at 20:35 ET.   S&P Index 50-day MA: 5754; 100-day MA: 5630; 150-day MA: 5499; 200-day MA: 5401 DJIA 50-day MA: 42,299; 100-day MA: 41,221; 150-day MA: 40,403; 200-day MA: 40,026 (Green is positive slope; Red is negative slope)   S&P 500 Index (5985.38 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 5850.21 triggers a sell signal Hourly: Trender and MACD are negative– a close above 6005.88 triggers a buy signal   Trump taps Matt Gaetz for Attorney General! – Just the News (Fear & loathing permeates DC!) Trump: “Matt will root out the systemic corruption at DOJ…” https://x.com/EricLDaugh/status/1856796631502389622/photo/1   @charliekirk11: The DOJ almost ruined Matt Gaetz’s life over fake (sex trafficking) accusations.  Now he will fix it to make sure that never happens again.   RINO Sen. Collins, who detests DJT, said she will oppose Gaetz.  Some GOP Reps claim Gaetz has no change to be confirmed.  Perhaps this is a DJT bait & switch ploy that will grease the way for another.   Senator-elect Schiff (CA) said he would oppose Gaetz as AG.  Elon Musk then weighed in.     @elonmusk: Schiff is as dirty as they come… The Hammer of Justice is coming. CNN’s @haleytalbotcnn: GOP Rep Massie says “recess appointments” when asked if GAETZ can get confirmed by the Senate.  “He’s the Attorney General. Suck it up!” (Lasts 2 years, term of Congress) https://x.com/haleytalbotcnn/status/1856806886819205280   Gaetz has resigned his House seat so someone can fill the seat as early as January 3 under Florida law.   NRO’s anti-DJT @EdWhelanEPPC: I’m hearing through the grapevine about this bonkers plan: Trump would adjourn both Houses of Congress under Article II, section 3, and then recess-appoint his Cabinet.  As predicate for Trump’s exercise of adjournment power, one House of Congress would seek other House’s consent to adjourn and be denied. So, Speaker of House would need to be complicit in evisceration of Senate’s advice-and-consent role…   @seanmdav: With Gaetz having resigned his seat in the House, if the Senate tries to reject his AG confirmation, DeSantis can always appoint Gaetz to fill Rubio’s Senate seat. Would be interesting to see senators have to choose between Gaetz as AG or as their colleague for years to come.   VP-elect @JDVance: The main issue with Matt Gaetz is that he used his office to prosecute his political opponents and authorized federal agents to harass parents who were peacefully protesting at school board meetings. Oh wait, that’s actually Merrick Garland, the current attorney general.   Trump nominated GOP Sen. Marco Rubio to be his Secretary of State.   DJT has named Ex-DNC Vice Chair (Lt. Col.) Tulsi Gabbard for Director of National Intelligence.   @VividProwess: Trump’s new Secretary of Defense, Pete Hegseth: “Zionism and Americanism are the front lines of Western civilization. Let Israel deal with Iran. We should not restrain them….”   @Peoples_Pundit: The last time we had a Defense Secretary who wasn’t beholden to the military industrial complex also happens to be the first one, ever.  James Forrestal, a working-class Catholic, died after supposedly throwing himself out a 16th story window at Bethesda Naval Hospital. He wanted the military on a strict and accountable budget, and some even say more disclosure.   Defense world reacts to Trump’s surprise Pentagon pick “Who the f***I s this guy?” said a defense industry lobbyist who was granted anonymity to offer candid views… (Politico tries to slam Hegseth, inadvertently makes the case for him!) https://www.politico.com/news/2024/11/12/defense-world-reacts-to-trump-pick-pete-hegseth-00189221   @ShelbyTalcott: Trump announces his White House senior staff: – Dan Scavino: Assistant to the President and Deputy Chief of Staff – Stephen Miller: Assistant to the President, Deputy Chief of Staff for Policy, Homeland Security Advisor – James Blair: Ass’t to the President & Deputy Chief of Staff for Legislative, Political, & Public Affairs – Taylor Budowich: Ass’t to the President and Deputy Chief of Staff for Communications and Personnel   DJT is broadcasting to Dems, RINOs, and the Establishment that he will not compromise on his cabinet.   @houmanhemmati: President @realDonaldTrump planning to tax excessively large private university endowments (which have benefited greatly from taxpayer $) to establish American Academy, a free online university for all. Purely academic.  Now please make a med school. I’ll help! https://x.com/houmanhemmati/status/1856487721193361898   @pepesgrandma: Massive discrepancies in total reported votes in Arizona counties. Nearly 200,000 missing votes! Read the thread, they are listed by county… https://x.com/pepesgrandma/status/1856514419729006862   @MonicaCrowley: Chuck Schumer @SenSchumer out here desperately calling for “good faith” and “bipartisanship”. Just like y’all did when you were jailing, bankrupting and otherwise destroying your political opponents? Buckle up, Chuck. https://x.com/MonicaCrowley/status/1856703174544925011   @VigilantFox: TMZ Founder: Hollywood Is in a State of PANIC Over Diddy Sex Crime Scandal “Every celebrity in the world seems to have gone to one of these white parties. Everybody wanted to go. https://x.com/VigilantFox/status/1856542948999012652   @wideawake_media: RFK Jr: “We had looked for many years to find a pre-licensing safety trial of any of the 72 vaccines that are now essentially mandated… for American children, and we had not been able to find any.”  “They were exempt, and I made that statement publicly. Dr. Fauci contradicted me… so we sued the HHS… they are not able to locate a single pre-licensing safety trial, placebo-controlled, for any of the vaccines that are now mandated for children. These are zero-liability vaccines.”… https://x.com/wideawake_media/status/1856695194063913085   From Schumer to Shomer (dead body guardian) to Shlemiel (clumsy, inept fool) – Jewish Journal Schumer has placed his political ambition above every other cause — above Israel, and above the United States… https://jewishjournal.com/commentary/opinion/376786/from-schumer-to-shomer-to-shlemiel/   @libsoftiktok: Governor of Illinois says local law enforcement won’t cooperate with raids and deportations of illegals in his state. https://x.com/libsoftiktok/status/1856771092318400643     @johnrich: Four words: Alien and Sedition Acts (Alien Friends Act: Gives the president the power to deport any alien he considers dangerous.)   @Holden_Culotta: Michael Shellenberger just sent *212 pages* of UAP/UFO evidence and government cover-ups to Congress. Today’s UAP/UFO hearing is going to be a BOMBSHEL…     President-Elect Donald Trump and former President Barack Obama have said that the government has information about UAPs that it has not released. In 2023, a high-ranking former intelligence officer named David Grusch testified to Congress that individuals told him the US government had retriever craft and biological material of no human origin…     In 2021, John Ratcliffe, the Director of National Intelligence under former President Trump, said that UAP demonstrated ‘technologies that we don’t have and, frankly, that we are no capable of defending against.’ Ratcliffe said, U.S. intelligence analysts had ‘high confidence’ that foreign adversaries were not behind the famous ‘Tic Tac’ UAP that four Navy Pilots encountered over the water. And, confirmed Ratcliffe, ‘There are a lot more sightings than have been made public.’”… https://x.com/Holden_Culotta/status/1856739078688882838   GOP Rep. @NancyMace: This 12-page document is the original document from the Pentagon on Immaculate Constellation—a program the government continues to deny even exists.  A special thanks to @shellenberger for bringing this to light today.  Ignoring UAPs is a major threat to national security. Time to take this seriously.  #UAPHearing   (Advisor to JFK, LBJ, Nixon, and Ford) Harald Malmgren @Halsrethink: How much government UAP knowledge Trump is thinking to disclose, and how fast, and how soon is probably under discussion by a handful close to Trump. As they consider what to do & when they must be mindful China and Russia must also be readying their own UAP disclosures…Soon?     China has also experienced increased UAP events. China has set up UAP monitoring in other parts of the world (with a major site in Patagonia). There is risk that Xi Jinping decides to leap ahead, to announce his leadership of all humanity to address otherworldly life.

SWAMP STORIES FOR YOU TONIGHT

Just get a load of this nonsense!

“Grand Political Theatre” – FBI Raids Home Of Polymarket CEO; Seize Phone, Electronics

Wednesday, Nov 13, 2024 – 06:50 PM

With just a few short weeks until President Trump (and his freshly appointed new AG Matt Gaetz) take over, the FBI has decided to rush in and raid the home of the founder and chief executive of Polymarket, the crypto-based prediction market that was a popular (and very accurate) platform for bets on the US presidential election.

The NY Post reports, citing a source close to the matter, that Shayne Coplan was woken up at 6:00 am Eastern Time in his New York City apartment by US law enforcement officials who demanded he hand over his phone and electronics.

It wasn’t immediately clear what prompted the FBI’s search but Polymarket quickly tied the raid to its track record in the recent election, in which bettors on its platform correctly anticipated that Donald Trump would beat Vice President Kamala Harris.

“This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” said a spokesman for the New York-based company.

“Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections,” the spokesman added.

The CEO of the decentralized prediction markets platform appeared to confirm the reports on X, claiming to make a post from a new phone.

A person close to the matter described the Coplan’s incident as “grand political theatre” to the NY Post.

“They could have asked his lawyer for any of these things.

Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons.”

Coplan appeared on CNBC last week – which likely irked the establishment:

I went on CNBC's Squawk Box this morning to talk about how Polymarket called the election. Here's the full interview: pic.twitter.com/d0Cg2aIRhO

— Shayne Coplan 🦅 (@shayne_coplan) November 7, 2024

Polymarket does not allow trading in the US, though bettors can bypass the ban by accessing the site through VPN, and Bloomberg reports that the DoJ is probing the company for allegedly accepting trades from US-based users, according to a person familiar with the matter.

Under an agreement with the CFTC reached in 2022, Polymarket is to prevent US-based traders from making transactions on the platform.

Coplan took to X once more this evening, clearly pissed off at the obvious politicization:

“It’s discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents. We are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting and recognize that taking a more pro-business, pro-startup approach may be what would have changed their fate this election.

Polymarket has provided value to 10’s of millions of people this election cycle, while causing harm to nobody.

We’re deeply proud of that.

I’m also proud to say that the future of America, and in particular American entrepreneurship, has never been brighter.

In the face of adversity, we build.”

Investors in Polymarket include Founders Fund, the Silicon Valley venture firm started by billionaire Peter Thiel, and a number of prominent crypto personalities.

GREG HUNTER

SEE YOU THURSDAY