NOV 22/GOLD PLOWS THROUGH THE $2700 DOLLAR RESISTANCE WITH EASE; GOLD CLOSED UP $37.80 TO $2709.95//SILVER JOINS INTO THE FUN RISING BY 40 CENTS TO $31.28//HOWEVER OUR OTHER TWP PRECIOUS METALS WERE SUBDUED IN PRICE: PLATINUM WAS UP ONLY 45 CENTS TO $968.35/WHILE PALLADIUM WAS DOWN $18.45 TO $1021.95///BITCOIN HITS 99,000 DOLLARS//IN GERMANY 63% OF ALL WELFARE PAYMENTS ARE MUSLIM MIGRANTS/ISRAEL VS HAMAS UPDATEES///ISRAEL VS HEZBOLLAH UPDATES//FALLOUT FROM THE ICC CRAZY CHARGES//RUSSIA VS UKRAINE ET AL UPDATES//COVID UPDATES//VACCINE INJURY REPORTS//DR PAUL ALEXANDER//SLAY NEWS//USA NEWS: U.MICHIGAN INFLATION EXPECTATIONS RISE//SERVICE PMI’S SKYROCKET//TRUMP NOMINATE PAM BONDI FOR ATTORNEY GENERAL USA/SWAMP STORIES FOR YOU TONIGHT//
*CANADIAN GOLD: $3785.21 UP 52.58 CDN dollars per oz( * NEW ALL TIME HIGH 3,872.51 CDN DOLLARS PER OZ//OCT 30 2024)
*BRITISH GOLD: 2161.00 UP 40.11 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2161.00 BRITISH POUNDS/OZ) NOV 22/2024
*EURO GOLD: 2,600.25 UP 50.71 Euros per oz //* (ALL TIME CLOSING HIGH: 2600.25 EUROS PER OZ//NOV 22 //.2024)
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END
EXCHANGE;
JPMorgan stopped 0/0
GOLD: NUMBER OF NOTICES FILED FOR NOV/2024. CONTRACT: 0 NOTICES FOR 0 OZ 0. TONNES
total notices so far: 2723 contracts for 272300 Oz (8.4696 tonnes)
FOR NOV
SILVER NOTICES: 16 NOTICE(S) FILED FOR 80,000 OZ/
total number of notices filed so far this month : 922 for 4.615 million oz
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GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD UP $37.80 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD:
HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.58 TONNES OF GOLD INTO THE GLD./
/ /INVENTORY RESTS AT 877,97 TONNES
INVENTORY RESTS AT 877.97 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER UP $.40 CENTS AT THE SLV
NO CHANGES IN SILVER INVENTORY AT THE SLV:
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 475.841 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI SURPRISINGLY FELL BY A STRONG SIZED 604 CONTRACTS TO 140,508 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS STRONG SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY LOSS OF $0.06 IN SILVER PRICING AT THE COMEX WITH RESPECT TO THURSDAY’S TRADING. WE HAD A TINY LOSS OF 4 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR TINY LOSS OF $0.06 IN PRICE. WE HAD CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS ON THURSDAY COMEX TRADING AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S CONTINUAL PRICE RISE FOR THE PAST 2 WEEKS AND FINALLY SUCCEEDED YESTERDAY WITH SILVER’S SLIGHT FALL..
WE HAD A HUGE 600 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A HUGE 1113 CONTRACT T.A.S ISSUANCE WHICH WILL BEING USED IN FUTURE TRADING AS THEY PLAY AN INTEGRAL PART DURING RAIDS TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE LOST A TINY SIZED 5 CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSS IN PRICE. WE HAD MAJOR TAS LIQUIDATION THROUGHOUT THURSDAY’S COMEX SESSION.
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 WEEK. THE ACCUMULATED T.A.S. WAS BEING USED TO MANIPULATE PRICES AT THE COMEX BUT THAT ENDED MONDAY..
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON THURSDAY NIGHT: A HUGE 1113 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 $0.06) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SILVER LONGS FROM THEIR PERCH, WE DID HAVE A TINY LOSS OF 5 CONTRACTS ON OUR TWO EXCHANGES.
WE HAD A HUGE 600 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 75,000 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 4.685 MILLION OZ
// STANDING FOR SILVER//NOV AT 4.685 MILLION OZ
WE HAD:
/ STRONG SIZED COMEX OI LOSS (ALL DUE TO T.A.S. LIQUIDATION)//HUMONGOUS SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1113 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: added 1 CONTRACT.
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 17DAYS, total 20,144 contracts: OR 100.720 MILLION OZ (1185 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 100.720 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. 100.72 MILLION OZ (WILL BE HUGE THIS MONTH)
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 604 CONTRACTS DESPITE OUR TINY LOSS OF $0.06 IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS EFP ISSUANCE CONTRACTS: 600 ISSUED FOR DEC AND 1000 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 75,000 OZ QUEUE JUMP WHERE THESE GUYS DECIDED TO TAKE DELIVERY ON THIS SIDE OF THE POND.
//NEW TOTAL STANDING FOR NOV AT 4.685 MILLION OZ
WE HAVE A TINY SIZED GAIN OF 4 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS 1113 CONTRACTS TRYING DESPERATE TO CONTAIN SILVER’S PRICE RISE,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION THUS THE NEED FOR REPLENISHMENT /THE STRONG TA.S. ISSUANCE//LIQUIDATION DISTORTS THE TOTAL OI CONTRACTS STANDING AT THE COMEX AND LOSS IN OI. NO SPECULATORS WERE BURNED ON THURSDAY
/ ZERO NET SHORT COVERING FROM OUR SPEC SHORTS DESPITE LOSS IN PRICE THURSDAY/ . ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.
THE NEW TAS ISSUANCE THURSDAY NIGHT (1113) 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 16 NOTICE(S) FILED TODAY FOR 0.080 MILLION OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 5123 OI CONTRACTS TO 496,192 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 3040 CONTRACTS//
WE HAD A FAIR SIZED DECREASE IN COMEX OI (5123 CONTRACTS) OCCURRED DESPITE OUR HUGE GAIN OF $22.85 IN PRICE THURSDAY. 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 200 OZ QUEUE JUMP. BUT WE HAD ANOTHER OF THAT CRAZY ISSUANCE OF 1000 CONTRACTS LAST FRIDAY NIGHT FOR DELIVERY OF EXCHANGE FOR RISK OR 3.11 TONNES OF GOLD//NEW STANDING ADVANCES TO 11.097 TONNES + 3.11 TONNES OF EX. FOR RISK/PRIOR = 14.207 TONNES
NEW STANDING FOR NOVEMBER: 14.207 TONNES
/ ALL OF THIS HAPPENED WITH OUR $22.85 GAIN IN PRICE WITH RESPECT TO THURSDAY’S COMEX ///. WE HAD A STRONG GAIN OF 4417 OI CONTRACTS (13.738 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 200 OZ)
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUMONGOUS SIZED 9560 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 498,282
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 4417 CONTRACTS WITH 5123 CONTRACTS DECREASED AT THE COMEX// AND A HUGE SIZED 9540 EFP OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 4417 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED BUT CRIMINAL 1522 CONTRACTS ISSUED. WE HAD A FAIR LIQUIDATION OF T.A.S CONTRACTS DESPITE OUR GAIN IN PRICE THURSDAY AS THE NEED FOR REPLENISHMENT WAS STILL IN ORDER TO CARRY OUT ITS PRICE CONTAINMENT STRATEGY. THEY FAILED MISERABLY YESTERDAY AND ALSO TODAY WITH GOLD’S PRICE ATTACK OF $2700 PRICE LEVEL.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (9640 CONTRACTS) ACCOMPANYING THE FAIR SIZED DECREASE IN COMEX OI OF 5123 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 4417 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 200 OZ QUEUE JUMP BUT WE MUST ADD THE NEW AND CRIMINAL ISSUANCE OF 1000 CONTRACTS OF EX. FOR RISK ISSUED LAST FRIDAY NIGHT WHERE BY THE BUYER ASSUMES RISK FROM THE SELLER THAT THAT CONTRACT WOULD BE DELIVERED TO HIM. WHAT A JOKE!
//NEW STANDING NOVEMBER: 11.097 TONNES + 3.11 TONES EX FOR RISK = 14.207 TONNES.
/ 3) SOME T.A.S. LIQUIDATION (TRYING TO CONTAIN GOLD’S HUGE PRICE RISE WITH ZERO SUCCESS THURSDAY AS WE HAD A STRONG $22.85 PRICE RISE. WE HAD ZERO 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) FAIR SIZED COMEX OPEN INTEREST DECREASE 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 1522 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: 101,663 CONTRACTS OF 10,166,300 OZ OR 316.216 TONNES IN 17 TRADING DAY(S) AND THUS AVERAGING: 5980 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17 TRADING DAY(S) IN TONNES 316.216 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 316.216 DIVIDED BY 3550 x 100% TONNES = 8.90% OF GLOBAL ANNUAL PRODUCTION
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 185.59 tonnes // FINAL
TOTAL: 2,847,25 TONNES/2022
JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!
FEB: 151.61 TONNES/FINAL
MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)
APRIL: 197.42 TONNES
MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)
JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)
JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)
AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL
SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,
DEC. 213.704 TONNES. A STRONG MONTH//
TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR
JAN ’24: 291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)
FEB’24: 201.947 TONNES
MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.
APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)
MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.
JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS
JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III)
AUGUST: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.
SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END JUST SHORT OF THE 3RD HIGHEST ISSUANCE EVER RECORDED.
OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)
NOV: 316.216 TONNES (WILL PROBABLY BE A HUGE MONTH/MAYBE A RECORD ISSUANCE MONTH//PREVIOUS RECORD ISSUANCE MARCH 2022 OF 409 TONNES.)
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPTEMBER. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A STRONG SIZED 604 CONTRACTS OI TO 140,598 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 7 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 600 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 600 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 600 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 605 CONTRACTS AND ADD TO THE 600 E.FP. ISSUED
WE OBTAIN A TINY SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 4 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 0.020 MILLION OZ OCCURRED WITH OUR $0.06 LOSS IN PRICE
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
FRIDAY MORNING THURSDAY NIGHT
ASIA TRADING/FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED DOWN 103.21 PTS OR 3.06%
//Hang Seng CLOSED DOWN 371.14 PTS OR 1.89%
// Nikkei CLOSED UP 257.65 OR 0.68%//Australia’s all ordinaries CLOSED UP 0.77%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2474 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2550// Oil DOWN TO 69.69 dollars per barrel for WTI and BRENT DOWN AT 73.77 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED5123 CONTRACTS TO 496,192 DESPITE OUR STRONG GAIN IN PRICE OF $23.85 WITH RESPECT TO THURSDAY’S TRADING. , WE LOST ZERO NET IN NUMBER LONGS WITH OUR MUCH HIGHER PRICE FOR GOLD AS YOU WILL SEE BELOW. WE HAD A HUGE NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (9540).
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 SO FAR AND ESPECIALLY DURING YESTERDAY’S HUGE GAIN IN PRICE. WE HAD MASSIVE TA.S. LIQUIDATION.
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 AND 199 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., 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 THE PRICE OF GOLD. THIS EPISODE ENDED LAST FRIDAY AND GOLD HAS BEEN ON A TEAR EVER SINCE.
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 STRONG T.A.S. LIQUIDATION THROUGHOUT LAST WEEK’S TRADING AND AGAIN WITH THIS WEEKS TRADING. YOU CAN VERIFY THIS AS WE WITNESS A NEGATIVE OI LOSS IN COMEX TRADING YESTERDAY DESPITE THE HIGH GAIN IN PRICE.
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 ALSO 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 HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A HUGE SIZED 9540 EFP CONTRACTS WERE ISSUED: : /DEC 9540 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 9540 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 4417 CONTRACTS IN THAT 9540 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 5123 COMEX CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE GAIN IN PRICE OF $23.85 THURSDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE. HOWEVER I AM SAD TO REPORT THAT THE CROOKS ISSUED ANOTHER STUPID EXCHANGE FOR RISK OF A GIANT 1,000 CONTRACTS LAST FRIDAY NIGHT OR IN OTHER WORDS A BUYER IS TAKING THE RISK THAT THEY WILL DELIVER TO HIM 3.110 TONNES OF GOLD (311,000 OZ). WE WISH THE BUYER ALL THE LUCK IN THE WORLD.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR THURSDAY WAS A NORMAL SIZED SIZED 1522 CONTRACTS, AND THESE WILL BE USED TO REPLENISH SUPPLIES.. ALMOST ALL OF THE TRADING AND SUPPLY OF CONTRACTS WAS ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK).
THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD (T.A.S.) 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 CONTINUAL 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 DURING LAST WEEK’S CONTINUOUS RAIDS.
SEEMS THAT THEY GAVE UP ON THIS MANIPULATIVE TRADE THIS WEEK WITH GOLD’S SCORCHING RISE.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: NOV (14.207 TONNES) WHICH IS HUGE FOR OUR NON ACTIVE NOV DELIVERY MONTH.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 47 MONTHS OF 2021-2024:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022:
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 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 =60.391 TONNES
NOV . 11.097 TONNES + 3.11 TONNES OF EX. FOR RISK/PRIOR = 14.207 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY A $23.85/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES, WE DID HAVE SOME T.A.S. SPREADER LIQUIDATION THURSDAY. WE ALSO HAD A NORMAL T.A.S. ISSUANCE AS THE NEED FOR REPLENISHMENT WAS STILL PRESENT. THIS COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL MONDAY EVENING
WE HAVE GAINED A TOTAL OF 13.738 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR NOV (2.488TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S GOOD SIZED QUEUE JUMP OF 2 CONTRACTS OR 200 OZ (0.00632 TONNES). THESE GUYS UNDERWENT A MASSIVE 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. HOWEVER WE MUST ADD THAT CRAZY “DELIVERY” OF 1000 CONTRACTS OF EXCHANGE FOR RISK OR 311,000 OZ OR 3.11 TONNES OF GOLD ISSUED ON FRIDAY NIGHT.
//NEW STANDING FOR NOV 11.097 TONNES + 3.11 TONNES EX FOR RISK PRIOR= 14.207 TONNESES
NEW STANDING FOR NOVEMBER: 14.207TONNES (WHICH FOR A NON ACTIVE DELIVERY MONTH)
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $23.85
WE HAD 2040 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.
NET GAIN ON THE TWO EXCHANGES 4417 CONTRACTS OR 441700 OZ (13.738 TONNES)
Total monthly oz gold served (contracts) so far this month
2723 notices 272300 oz 8.4696 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
x
dealer deposits: 0
total dealer deposits: nil oz
we have 0 customer deposits
total deposits nil oz
withdrawals: 1
Out of Malca: 14,469.950 oz
(real gold leaving)
TOTAL WITHDRAWALS: 14,462,950 oz
adjustments: 1
i) Out of JPMorgan: 9645.300 oz (300 kilobars)
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOV.
For the front month of NOV: we have an oi of 845 contracts having LOST 16 contracts. We had 18 contracts served on THURSDAY so we gained A SMALL 2 contracts as these guys underwent a queue jump of 200 oz (0.00632 TONNES OF GOLD) to which we add the 3.11 tonnes of exchange for risk delivery/PRIOR.
DECEMBER, THE BIGGEST DELIVERY MONTH LOST 31,971 CONTRACTS TO 160,181.. WE HAVE 4 MORE READING DAYS BEFORE FIRST DAY NOTICE FRIDAY NOV 29, THE OPEN INTEREST DESPITE THE HUGE TAS LIQUIDATION IS STILL HIGH. WE MAY HAVE A HUMDINGER OF GOLD TONNAGE STANDING FOR DELIVERY ON FIRST DAY NOTICE.
JANUARY GAINED 79 CONTRACTS TO STAND AT 646
FEBRUARY GAINED 24,544 CONTRACTS TO 247,037 .
We had 0 contracts filed for today representing 0 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 0 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 (2723 x 100 oz ) to which we add the difference between the open interest for the front month of NOV(845 CONTRACTS) minus the number of notices served upon today (0 x 100 oz per contract( equals 356,800 OZ OR 11.097 TONNES.+ to which we add 3.11 tonnes of exchange for risk delivery//PRIOR //new totals 14.2017 tonnes
thus the INITIAL standings for gold for the NOV contract month: No of notices filed so far (2723 x 100 oz +we add the difference for front month of NOV (845 OI} minus the number of notices served upon today (0 x 100 oz which equals 356,800 oz (11.092 TONNES) +3.11 tonnes (ex. for risk/PRIOR) = 14.207
TOTAL COMEX GOLD STANDING FOR NOV.: 14.207 TONNES WHICH IS HUGE FOR THIS NON ACTIVE DELIVERY MONTH IN THE CALENDAR.
total pledged gold: 1,749,209.388 oz 54.407 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,557,209.388 OZ
TOTAL REGISTERED GOLD 7,784,655.342/// 242.13tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,762,560.958 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,035,446 oz (REG GOLD- PLEDGED GOLD)= 187.73 tonnes //
END
SILVER/COMEX
NOV 22. 2024
INITIAL
//2024// THE NOV 2024 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
640,721.57oz
Loomis
.
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil
No of oz served today (contracts)
16 CONTRACT(S) (80,000 OZ)
No of oz to be served (notices)
15 contracts (75,000oz)
Total monthly oz silver served (contracts)
922 Contracts (4.610 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 0 customer deposits
total customer deposits nil oz
We had 1 withdrawals
i) Out of Loomis: 640,721.57 oz
total withdrawal 640,721.57 oz
JPMorgan has a total silver weight: 134.401million oz/307.548million or 43.57%
adjustment 0
TOTAL REGISTERED SILVER: 69.526MILLION OZ//.TOTAL REG + ELIGIBLE. 308.188 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR NOV
silver open interest data:
FRONT MONTH OF NOV /2024 OI: 29 OPEN INTEREST FOR A GAIN OF 9 CONTRACTS
WE HAD 6 NOTICE(S) FILED ON THURSDAY SO WE GAINED 15 CONTRACTS OR 75,000 OZ UNDERWENT A QUEUE JUMP AS THEY DECIDED TO LOOK FOR SILVER ON THIS SIDE OF THE POND.
DECEMBER SAW A LOSS OF 7631 CONTRACTS DOWN TO 46,129 CONTRACTS. WE HAVE 4 MORE READING DAYS BEFORE FIRST DAY NOTICE. TAS ISSUANCE HAS BEEN HIGH ALL WEEK AND THUS IT IS TOO DIFFICULT TO SAY HOW MANY WILL REMAIN TO STAND ON FIRST DAY NOTICE.
JANUARY SAW A GAIN OF 20 CONTRACTS UP TO 1344
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 16 for 0.080 MILLION oz
CONFIRMED volume; ON THURSDAY 87,891 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 922x 5,000 oz = 4.615 MILLION oz
to which we add the difference between the open interest for the front month of NOV (29) and the number of notices served upon today (16)x (5000 oz)
Thus the standings for silver for the NOV 2024 contract month: 922 Notices served so far) x 5000 oz + OI for the front month of NOV(29) number of notices served upon today minus (16)x 5000 oz of silver standing for the NOV contract month equates to 4.685 MILLION OZ.
New total standing: 4.685 million oz.
There are 69.526 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//
NOV 22 WITH GOLD UP $37.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.58 TONNES OF GOLD INTO THE GLD/:. .///INVENTORY RESTS AT 877.97 TONNES
NOV 21 WITH GOLD UP $23.85 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 3.16 TONNES OF GOLD INTO THE GLD/:. .///INVENTORY RESTS AT 875,39 TONNES
NOV 20 WITH GOLD UP $22.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 0.58 TONNES OF GOLD INTO THE GLD/:. .///INVENTORY RESTS AT 872.23 TONNES
NOV 19 WITH GOLD UP $13.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD/:. .///INVENTORY RESTS AT 871.65 TONNES
NOV 18 WITH GOLD UP $44.20 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.56 TONNES OF GOLD INTO THE GLD/:. .///INVENTORY RESTS AT 869.93 TONNES
NOV 15 WITH GOLD DOWN $1.90 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.25 TONNES OF GOLD FROM THE GLD/:. .///INVENTORY RESTS AT 867.37 TONNES
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: 877.97 TONNES, TONIGHTS TOTAL
SILVER
NOV 22 WITH SILVER UP $0.40 //NO CHANGES IN SILVER INVENTORY AT THE SLV:. . /// //INVENTORY AT SLV RESTS AT 475.841 MILLION OZ
NOV 21 WITH SILVER DOWN $0.06 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 1.729 MILLION OZ FORM THE SLV. . /// //INVENTORY AT SLV RESTS AT 475.841 MILLION OZ
NOV 20 WITH SILVER DOWN $0.22 //NO CHANGES IN SILVER INVENTORY AT THE SLV: . /// //INVENTORY AT SLV RESTS AT 477.572 MILLION OZ
NOV 19 WITH SILVER UP $0.10 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 5,742,000 OZ INTO THE SLV. /// //INVENTORY AT SLV RESTS AT 477..572 MILLION OZ
NOV 18 WITH SILVER UP $0.68 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 1,277,000 OZ INTO THE SLV. /// //INVENTORY AT SLV RESTS AT 471,830 MILLION OZ
NOV 15 WITH SILVER DOWN $0.09 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 3,100,000 OZ OUT OF THE SLV. /// //INVENTORY AT SLV RESTS AT 471,830 MILLION OZ
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 475.841 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY//BILL HOLTER:
3. CHRIS POWELL AND GATA DISPATCHES
4. OTHER GOLD COMMENTARIES//LIVE FROM THE VAULT/no 200 ANDREW MAGUIRE
WITH ANDY SCHECHTMAN, CRAIG HEMKE AND ROB KIENTZ
LIVE FROM THE VAULT/ANDREW MAGUIRE KINESIS 199
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES:EGGS
Egg Prices Surge Again As Grocers Face Shortages Amid Bird Flu Outbreak
Friday, Nov 22, 2024 – 02:20 PM
Wholesale egg prices via the Urner Barry Egg Index are nearing record highs (again) as the highly pathogenic avian Influenza, also known as bird flu, hits egg production at commercial farms.
The Washington Post reports that consumers are growing increasingly frustrated with DC-area grocery stores, where signs read: “Temporarily out of eggs.”
It was frustrating to shoppers at a Trader Joe’s in the Union Market neighborhood of Washington, D.C., on Wednesday as they walked past an empty refrigerator case with a sign that read: “Temporarily out of eggs.” One customer, Donella Brockington, worried she wouldn’t have eggs to bake for Thanksgiving. “I hate going to grocery stores, so when I go and I can’t get what I want, it’s unpleasant,” she said.
Not too far away, at a Whole Foods Market in Logan Circle, only duck eggs, quail eggs and organic pasture-raised eggs were available. A sign informed shoppers that the store was limiting egg purchases to three cartons per customer. “We are currently experiencing difficulty sourcing eggs that meet our strict animal welfare standards,” it said.
The latest data from the US Department of Agriculture showed that US egg production in October dipped by 2.6% from one year ago and is forecasted to slide by 1% in 2024 compared to last year.
Bernt Nelson, an American Farm Bureau Federation economist, told WaPo, “Bird flu is by far the biggest factor involved with egg prices,” adding, “As bird flu comes and goes, our egg prices ride the wave.”
Internet searches on Google show “egg shortage” is steadily rising into the end of the year, reaching a one-year high.
Bloomberg data shows that news stories featuring “egg shortage” jumped to 56 in October, the highest number since June when the story count was 137. Previous spikes in mid-2022 and early 2023 were during the last bird flu outbreak.
The last major egg disruption occurred in the second half of 2022 and early 2023, sending retail prices of a dozen eggs to nearly $5.
“This is a virus that is very wily,” said Emily Metz, the chief executive and president of the American Egg Board, adding, “It affects farms regardless of production, style, shape, size, and whether it’s cage-free or conventional or pasture-raised.”
Is the next big egg shortage just around the corner?
6 CRYPTOCURRENCY NEWS
ASIA TRADING FRIIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED DOWN 103.21 PTS OR 3.06%
//Hang Seng CLOSED DOWN 371.14 PTS OR 1.89%
// Nikkei CLOSED UP 257.65 OR 0.68%//Australia’s all ordinaries CLOSED UP 0.77%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2474 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2550// Oil DOWN TO 69.69 dollars per barrel for WTI and BRENT DOWN AT 73.77 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.2473
OFFSHORE YUAN: DOWN TO 7.2550
SHANGHAI CLOSED CLOSED UP 2.42 PTS OR 0.07%
HANG SENG CLOSED CLOSED DOWN 371.14 PTS OR 1.87%
2. Nikkei closed UP 257.58 PTS OR 0.68%
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX UP TO 107.52 EURO FALLS TO 1.0406 DOWN 63 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +1.066 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 154.51…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DOWN FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.2415 Italian 10 Yr bond yield DOWN to 3.491 //SPAIN 10 YR BOND YIELD DOWN TO 2.958
3i Greek 10 year bond yield DOWN TO 3.092
3j Gold at $2691.70 /Silver at: 31.13 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 75/100 roubles/dollar; ROUBLE AT 103.03
3m oil into the 69 dollar handle for WTI and 73 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 154.51 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.066% 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 0.8903 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9266 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: 4.395 DOWN 4 BASIS PTS…
USA 30 YR BOND YIELD: 4.588 DOWN 3 BASIS PTS/
USA 2 YR BOND YIELD: 4.337 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 34.55…
10 YR UK BOND YIELD: 4.437 DOWN 4 PTS
10 YR CANADA BOND YIELD: 3.465 UP 1 BASIS PTS
5 YR CANADA BOND YIELD: 3.307 UP 0 PTS.
2a New York OPENING REPORT\
Equity Futures Drop As Bitcoin Trades Above $99,000
Friday, Nov 22, 2024 – 08:35 AM
US futures are lower but well off session lows as investors turn to other regions for better value following this month’s torrid rally in US equities, while bitcoin inched closer toward the landmark $100,000 level, trading less than a thousand dollars away from the vaunted resistance level. As of 8:00am, S&P futures are down 0.1%, and Nasdaq futures drop 0.2%, as NVDA and META fell -1.0% and -0.7%, respectively, while the rest of Mag 7 are mostly unchanged. Bond yields are 2-4bp lower and the Bloomberg Dollar index rose 0.3% to stay on course for an eighth straight week of gains as it hit a 2 year high as the EUR tumbled after another set of dismal PMI prints. In commodities, oil and base metals are lower; precious metals are higher. Today, the key focus will be global PMI releases. Expectations are for the PMI Mfg and Srvcs to print at 48.9 and 55.0, respectively, largely in line with expectations.
In premarket trading, Alphabet slipoed less than 1% after the Information reported that OpenAI is considering developing a web browser and recently struck deals to power search features for retail, travel and other websites. Gap jumped 15% after raising its full-year outlook as the apparel retailer attracts wealthier shoppers seeking value. Here are some other notable movers:
Elastic (ESTC) soars 27% after the software company raised its full-year forecast.
Intuit (INTU) falls 4% after the maker of the TurboTax tax preparation software provided a sales and profit outlook for the current quarter that fell short of analysts’ estimates.
NetApp (NTAP) climbs 6% as the tech-hardware firm boosted guidance following an earnings beat.
Ross Stores (ROST) gains 7% after the discount retailer lifted annual projections for earnings per share.
The decline in US equity futures coincided with gains in Europe and Japan. Bank of America strategists warned that the Nasdaq 100 was approaching a level versus the S&P 500 that could trigger the unwinding of the trade favoring US equities. Nasdaq 100 contracts fell 0.4% on Friday. Investors piled into US stocks this month, spurred on by expectations that Donald Trump’s economic policies to cut tax rates and support American industry will drive corporate profits higher. Over the same period, equities in Europe have been largely flat due to fears over lackluster economies and rising geopolitical tensions.
“We had a knee jerk reaction after the election when the US market went up and all others struggled,” said Guy Miller, chief market strategist at Zurich Insurance Co. “Markets like Europe are priced for the advantage US has, so some money will be gravitating to the major laggards.”
Meanwhile, euro area PMIs dipped back into contraction in November. The bad data was good enough to push stocks higher on expectations of more ECB rate cuts, although European stocks traded off session highs with Stoxx 600 up 0.3% with banks and autos the worst-performing sectors. Healthcare and real estate shares made the biggest gains, while tech outperformed the benchmark, after investors shrugged off concerns over Nvidia’s revenue outlook. Here are some of the biggest movers on Friday:
Games Workshop shares surge as much as 16%, hitting a record high, after a short trading update showed the Warhammer tabletop game specialist delivered impressive growth in the first half that analysts expect will push up consensus estimates.
Brenntag rises as much as 4.9% after Berenberg upgrades the chemicals firm to buy, saying there’s a good opportunity to enter the stock following 2024’s share-price declines, while consensus numbers for next year are more realistic.
Thales shares plunged as much as 7.3% on Friday after news that the French aerospace and defense supplier is under investigation by UK and French prosecutors for suspected bribery and corruption.
Nexans shares slide as much as 5.6% after investors offloaded shares in the cable manufacturer at a discount to Thursday’s closing price.
Komax shares fall as much as 6.4%, hitting the lowest level since August 2013, after the Swiss machinery manufacturer deferred its medium-term targets by two years to 2030.
Earlier in the session, Asian equities rose, rebounding from two days of declines, as the tech-heavy markets of Taiwan and Korea led a rally. The MSCI Asia Pacific Index climbed as much as 0.7% before paring the gains, with TSMC providing the biggest boost. Australian stocks hit a record high, while benchmarks in Japan and India also rose. Key gauges dropped in mainland China and Hong Kong, as Baidu’s sales decline triggered a selloff in major internet names. The regional benchmark has shown resilience this week after a selloff over geopolitical tensions and China’s slowing growth pushed it down toward its 200-day moving average. Investors continue to monitor US President-elect Donald Trump’s moves as he prepares to take office. Elsewhere in Asia, Adani Group companies advanced after a $27 billion rout on Thursday following a US indictment against Gautam Adani over allegations of bribery. The company denied the allegations.
In FX, the dollar remained on track for an eighth straight weekly advance, which would be the longest streak in about 14 months. The currency has risen 2.5% so far this month, adding to October’s gains of nearly 3%, and hit a 2 year high as the euro tumbled. The euro pares a drop after tumbling to the lowest level in about two years versus the dollar on growth concerns. Money markets assign higher odds of a 50-basis-point interest rate cut from the ECB in December after business activity in euro area unexpectedly shrank. Pound falls 0.7% to $1.25 as UK PMI data showed private sector stagnating.
“The US dollar made another march to the upside, with some safe-haven flows likely contributed from Ukraine-Russia geopolitical developments,” said Jun Rong Yeap, market strategist at IG Asia. “We may expect tensions to persist as both sides vie to gain some political leverage ahead of any upcoming negotiations under a Trump administration,” he said.
In rates, treasuries advanced across the curve, following a bigger bull-steepening move in German bonds after euro-area PMIs missed analysts’ estimates. Swaps market subsequently priced in faster and deeper ECB interest-rate cuts, placing a greater-than-50% chance of a 50bp reduction next month. US yields lower by 3bp-4bp across maturities, leaving curve spreads within 1bp of Thursday’s close. The 10-year US yield around 4.39% trails Germany’s by Bunds and gilts jump, led by shorter-dated maturities. German two-year yields fall 10 bps while the UK equivalent drops 5 bps. The US session also includes PMI readings along with University of Michigan sentiment gauge.
In commodities, oil prices advanced, with WTI rising to around $70 a barrel. Spot gold climbs $38 to $2,708/oz.
Bitcoin, which hit another record high, trimmed gains after earlier flirting with the $100,000 level on bets President-elect Donald Trump’s support for crypto and a looser regulatory environment will help the industry. The latest developments included SEC corrupt head Gary Gensler’s decision to step down in January. His tenure was marked by a flurry of catastrophic crypto enforcement actions, which the industry expects will peter out under Trump.
Looking at today’s calendar, US economic data includes November preliminary S&P Global US PMIs (9:45am), November final University of Michigan sentiment (10am) and November Kansas City Fed services activity (11am)
Market Snapshot
S&P 500 futures down 0.4% to 5,944.00
STOXX Europe 600 little changed at 502.36
MXAP up 0.2% to 182.41
MXAPJ up 0.1% to 577.74
Nikkei up 0.7% to 38,283.85
Topix up 0.5% to 2,696.53
Hang Seng Index down 1.9% to 19,229.97
Shanghai Composite down 3.1% to 3,267.19
Sensex up 2.5% to 79,086.51
Australia S&P/ASX 200 up 0.9% to 8,393.85
Kospi up 0.8% to 2,501.24
German 10Y yield little changed at 2.25%
Euro down 0.6% to $1.0409
Brent Futures up 0.2% to $74.37/bbl
Gold spot up 1.2% to $2,701.48
US Dollar Index up 0.55% to 107.56
Top Overnight News
China will attempt to boost exports further, with Beijing promising to support its firms to increase shipments despite a rising global backlash over an influx of cheap Chinese goods. Beijing will provide financial and diplomatic help for exporting companies and direct Chinese shipping firms to boost cargo capacity and bolster e-commerce. BBG
Japan’s core national CPI for October rose 20bp Q/Q to +2.3% Y/Y, coming in a bit ahead of the Street’s +2.2% forecast and further keeping pressure on the central bank to raise its still-low interest rates. Reuters
Taiwan says it is working on details for its president to stop in the US during an upcoming trip, a move that may escalate tensions between Washington and Beijing. BBG
The euro dropped to its weakest level since 2022 after data showed euro-area business activity unexpectedly shrank in November. Eurozone flash PMIs for Nov are weak, with manufacturing coming in at 45.2 (down from 46 in Oct and below the Street 46) and services at 49.2 (down from 51.6 in Oct and below the Street 51.6). BBG
UK retail sales fell short of expectations, coming in -0.9% M/M ex-fuel (vs. the Street -0.4%) while Sept was revised lower. WSJ
Traders raised bets on a 50-bp rate cut from the ECB next month to 50% from 15% at yesterday’s close. BBG
Apple will face even more competition in China next week after Huawei launches its new Mate 70 phone. WSJ
President-elect Donald Trump has floated selecting the financier Kevin Warsh as his Treasury secretary with the understanding that he could later be nominated to lead the Federal Reserve when Jerome Powell’s term as chair ends in 2026, according to people familiar with the matter. WSJ
Efforts by U.S. antitrust regulators to break up Alphabet by forcing a sale of its Google Chrome browser and other proposals to limit its search dominance are likely to run into legal challenges on grounds the remedies are extreme. Reuters
A more detailed look at global markets courtesy of Newsquawk
APAC stocks mostly sustained the momentum from Wall St where stocks ultimately gained after whipsawing on geopolitical-related headlines and amid mixed data, although pressure was seen in China after weak earnings and an underwhelming briefing from Beijing. ASX 200 rallied with energy leading the advances seen in nearly all sectors aside from tech, while sentiment was also unfazed by the contractions across Australia flash PMI figures. Nikkei 225 gained following confirmation from Japanese PM Ishiba of a JPY 39tln stimulus package, while the latest inflation data from Japan printed mostly in line with expectations and is unlikely to have any ramifications for BoJ policy. Hang Seng and Shanghai Comp were pressured with Baidu the worst performer in the Hang Seng Index following a decline in its profit and revenue, while sentiment was also not helped by the PBoC’s net liquidity drain and after comments from China’s Vice Commerce Minister on foreign trade failed to inspire.
Top Asian News
China’s Vice Commerce Minister Wang said China’s foreign trade maintained positive momentum and a stable and sound development trend but noted that China has seen slower foreign trade growth since August. Wang said regarding Trump tariffs and the yuan that China is able to resolve and resist impacts of external shock, while he added that China will safeguard its sovereignty, safety and development benefits, as well as announced that MOFCOM will roll out policies on expanding trade of green products sometime next year.
China’s MIIT said it is to develop policies for digital transformation in manufacturing and AI-driven new industrialisation.
China is willing to engage in “positive dialogue” on trade with US under President-elect Trump, according to the FT citing senior officials.
China smartphone sales +8% Y/Y in Q3, via counterpoint research
European bourses began the session entirely in the green, but sank into negative territory following the release of the French, German and then the EZ-wide PMI figures which continue to fuel anxiety related to growth within the region. European sectors opened with a strong positive bias, but following the PMI figures sectors are now mixed and display a slight defensive bias. Healthcare takes the top spot alongside Utilities, benefiting from the risk-off sentiment whilst Real Estate benefits from the relatively low yield environment. US equity futures are lower across the board in tandem with the dip in sentiment seen in Europe following the region’s poor PMI figures.
Top European News
US President-elect Trump considers Kevin Warsh to serve as Treasury Secretary and then Fed Chair, according to WSJ.
US President-elect Trump nominated Pam Bondi as Attorney General after Matt Gaetz withdrew himself for consideration.
FX
USD firmer vs. all peers (ex-JPY) alongside risk aversion triggered by a dreadful set of Eurozone PMI metrics. Ahead, S&P Global PMIs are due and whilst they normally play second-fiddle to the ISMs, a strong showing from the US could see a widening of US-EZ rate differentials. DXY has been as high as 108.09 which marks a fresh YTD peak.
A dismal set of EZ PMI metrics has acted as a drag on EUR/USD with the pair printing a fresh YTD low and slipping onto a 1.03 handle for the first time since December 2022. ECB’s Schnabel is due later (slides already released). Price action has since stabilised around the 1.0420 mark.
JPY is steady vs. the USD following a session of outperformance yesterday. The latest Japanese inflation data provided little to spur price action as the figures printed mostly in line with expectations aside from the core reading which was slightly firmer-than-expected.
A busy day of data for the UK has seen retail sales and PMI reports. On the latter, all three metrics fell short of expectations with the all-important services slipping to neutral territory. GBP/USD briefly slipped onto a 1.24 handle for the first time since 9th May.
Antipodeans are both softer vs. the broadly firmer USD and in the wake of losses in Chinese equities overnight. AUD/USD has slipped back onto a 0.65 handle.
PBoC set USD/CNY mid-point at 7.1942 vs exp. 7.2502 (prev. 7.1934).
PBoC official said they will prevent the formation of one-sided expectations on the yuan and will keep the yuan basically stable at a reasonable and balanced level.
Fixed Income
Bunds are firmly in the green and resides just off session highs following the release of the French, German and then the EZ-wide PMI figures, which boosted the odds of a 50bps cut at the ECB’s December confab. Overall, the data leaves Bunds and OATs near highs of 133.32 and 125.52 respectively.
Gilts opened lower by a handful of ticks and printed a 93.88 trough before then climbing as participants digested the morning’s retail sales data which was softer than expected across the board. Thereafter, Gilts picked up in tandem with peers and then took another leg higher following region’s own PMI figures which were softer across the board. Action which saw Gilts spike higher from 94.58 to a 94.90 peak before fading essentially all of the move.
USTs are firmer moving in tandem with the above thus far. Rose to a 109-25 peak on the morning’s flash PMIs from the bloc and France/Germany beforehand. For the session ahead, USTs await their own PMIs with the Fed docket very light today until Bowman after hours.
Commodities
WTI and Brent are modestly firmer on the session, though the benchmarks came under pressure on the growth/demand implications of the EZ and UK Flash PMIs and as the USD picked up. Currently at USD 70.20/bbl and USD 74.45/bbl respectively, in the green but at the lower-end of circa. USD 0.80/bbl parameters.
Gold is in the green, benefiting from the ongoing tense geopolitical backdrop and lifting with fixed income on the dismal PMIs out of the EZ and UK. As it stands, the yellow metal is just off a USD 2707/oz best, well above Thursday’s USD 2673/oz high and at a new peak for the week.
Base metals began the session on the backfoot and then took another leg lower in tandem with the souring risk tone spurred on by the abysmal PMI metrics from France, Germany and the EZ.
Goldman Sachs sees upside risks to Brent prices in the short term with Brent seen rising to mid-USD 80s/bbl in 2025 H1 if Iran supply drops 1mln bpd on tighter sanctions enforcement, but sees medium-term price risks skewed to the downside given high spare capacity and estimates Brent to drop to the low USD 60s in 2026 in a 10% across-the-board tariff scenario or if OPEC supply rises through 2025.
Russian Deputy PM Novak tells the OPEC Secretary General that they plan to develop cooperation with OPEC. Energy market is under significant pressure, incl. price fluctuations.
Worldsteel (Oct): Global steel output 151.2mln/T, +0.4% Y/Y; China 81.9mln/T, +2.9% Y/Y.
Oil loadings from Russia’s western ports seen falling by 100k bpd to 1.8mln bpd in Dec-Nov, according to Reuters sources.
Geopolitics: Middle East
US Envoy Hochstein leaves Israel at dawn for Washington without announcing the outcome of the talks, according to Alhadath
Israeli Home Front announced that sirens sounded in Haifa Bay and Krayot, according to Al Jazeera.
Israeli army called on residents of three towns in southern Lebanon to evacuate their homes immediately, according to Asharq News.
IAEA’s board of governors passed a resolution ordering Iran to urgently improve cooperation with the IAEA, while the board asked the IAEA to produce a ‘comprehensive’ report on Iran by the spring of 2025.
Geopolitics: Other
“Fearing a Russian missile attack on the government quarter in Kyiv, all sessions at Ukraine’s parliament (Verkhovna Rada) have been cancelled for today. Politicians warned to avoid the area”, via Michael Bociurkiw on X.
North Korean leader Kim called for developing and upgrading weaponry, as well as vowed to continue developing defence capabilities, while he said the US has ratcheted up tension and provocations while expanding nuclear-sharing alliances. Furthermore, Kim said the Korean Peninsula has never faced such risks of nuclear war as of now and that previous experience of negotiations with the US only highlighted its hostile policy, according to KCNA.
US Event Calendar
09:45: Nov. S&P Global US Services PMI, est. 55.0, prior 55.0
Nov. S&P Global US Manufacturing PM, est. 48.9, prior 48.5
Nov. S&P Global US Composite PMI, est. 54.3, prior 54.1
10:00: Nov. U. of Mich. Sentiment, est. 73.9, prior 73.0
Nov. U. of Mich. Expectations, est. 79.0, prior 78.5
Nov. U. of Mich. Current Conditions, est. 64.4, prior 64.4
Nov. U. of Mich. 1 Yr Inflation, est. 2.7%, prior 2.6%
Nov. U. of Mich. 5-10 Yr Inflation, est. 3.1%, prior 3.1%
11:00: Nov. Kansas City Fed Services Activ, prior 5
DB’s Jim Reid concludes the overnight wrap
Markets continued to make steady gains yesterday, with the S&P 500 (+0.53%) up for a 4th consecutive session, whilst Bitcoin traded above $99,000 intraday for the first time. Moreover, perceived safe havens did very well because of growing geopolitical fears, with assets like the Japanese yen, gold and German bunds all outperforming. That came after Ukraine said yesterday morning that Russia had launched an intercontinental ballistic missile, although US officials later described it as an “intermediate-range ballistic missile” that was based on an ICBM model. So that added to fears about a broader escalation in hostilities, and several commodities saw a direct reaction to those developments.
In terms of the specific moves, they broadly resembled what happened during the 2022 commodity shock, albeit to a much lesser extent. For instance, European natural gas futures (+3.22%) hit a one-year high of €48.30/MWh, and are now on track for their biggest monthly gain in over a year. Oil prices rose as well, with Brent crude up +1.95% to a two-week high of $74.23/bbl. Now it’s worth bearing in mind that natural gas prices are still below their levels for the entirety of 2022, so this is hardly a repeat of that energy shock just yet. But even so, those concerns still contributed to a fresh decline in the Euro, which fell a further -0.66% against the US Dollar to $1.0474, which is its lowest closing level since October 2023.
With commodity prices moving higher, that led to a fresh bout of concern about near-term inflation. In fact, the US 2yr inflation swap was up another +1.2bps yesterday to 2.71%. That’s its highest closing level since March 2023, just before SVB’s collapse occurred and the regional bank turmoil happened. So inflation is something increasingly on investors’ minds, particularly given the prospect of new tariffs under the incoming Trump administration. That said, sovereign bonds still rallied for the most part, particularly in Europe, as the geopolitical fears also led investors to price in more ECB rate cuts. Hence, yields on 10yr bunds fell -3.3bps to a three-week low, which was echoed to a lesser degree among 10yr OATs (-0.2bps) and BTPs (-0.9bps) as well. When it came to equities, the story was generally one of consistent gains yesterday on both sides of the Atlantic, with the S&P 500 (+0.53%) and the STOXX 600 (+0.41%) both moving higher. The gains were pretty broad-based, and the equal-weighted S&P 500 actually put in a very strong gain of +1.29%. Instead, the main downward pressure came from the big tech stocks, with the Magnificent 7 slumping by -1.17%. That followed a -4.74% decline for Alphabet after the US Justice Department asked a judge to get Google to sell its Chrome browser. Separately, Nvidia (+0.53%) bounced back from a negative initial reaction to its earnings announcement overnight, and earlier in the session it even hit an all-time intraday high of $152.89.
In the meantime, investors had to digest a mixed set of labour market data from the US yesterday. On the bright side, the weekly initial jobless claims were down to 213k in the week ending November 16 (vs. 220k expected). That’s their lowest level since April, and it comes on the back of a clear declining trend in recent weeks, as the 4-week moving average also fell to its lowest since early May, at 217.75k. However, that was countered by some weakness among the continuing claims number, which was up to a three-year high of 1.908m in the week ending November 9 (vs. 1.88m expected). Overall though, investors focused on the positives, dialling back their expectations for Fed rate cuts, and pushing yields on 2yr Treasuries up +3.4bps to 4.35%. The 10yr yield (+1.2bps) also saw a modest increase to 4.42%.
Elsewhere, the search for the new US Treasury Secretary continues, and overnight it was reported by the Wall Street Journal that President-elect Trump had floated choosing former Fed Governor Kevin Warsh for the position, with the understanding that Warsh would be nominated for Fed Chair once Powell’s term ends in May 2026. The report then said that Trump was thinking of appointing Scott Bessent as head of the National Economic Council, and that Bessent could become Treasury Secretary if Warsh then became Fed Chair. While markets wait to hear who’ll lead the Treasury Department, Trump named Pam Bondi as his new nominee for Attorney General, following Matt Gaetz’s withdrawal from consideration.
Overnight in Asia, there’s been a fairly mixed performance for the major equity indices. In Japan, the Nikkei (+0.95%) has posted strong gains, along with South Korea’s KOSPI (+0.85%) and Australia’s S&P/ASX 200 (+0.85%). But Chinese equities have underperformed, with the CSI 300 (-1.51%) and the Shanghai Comp (-1.58%) both losing ground. US equity futures are also pointing lower as well, with those on the S&P 500 down -0.12%.
Those gains in Japan have come despite some stronger-than-expected inflation data overnight. Headline CPI was at +2.3% as expected in October, falling back from +2.5%, but the core-core inflation measure was up to a 6-month high of +2.3% (vs. +2.1% expected). So front-end Japanese bond yields have moved higher overnight, with the 2yr yield up +1.1bps to 0.58%, its highest level since 2008.
Looking forward, the main data highlight today will be the November flash PMIs from around the world, which will offer an initial indication of how the economy’s performed as we move deeper into Q4. Overnight, the readings so far have been fairly subdued, with Japan’s composite PMI coming in at 49.8, so just beneath the 50 mark that separates expansion from contraction.
Australia’s composite PMI also fell back into contractionary territory at 49.4, which is its weakest reading since January. To the day ahead now, and data releases include the flash PMIs for November from the US and Europe, UK retail sales for October, and the University of Michigan’s final consumer sentiment index for November. Central bank speakers include ECB President Lagarde, Vice President de Guindos, the ECB’s Nagel, Villeroy and Schnabel, along with the Fed’s Bowman.
2B) European report.
Dismal EZ PMIs hit risk sentiment, with Bonds bid and EUR at lows – Newsquawk US Market Open
Friday, Nov 22, 2024 – 05:49 AM
Equities began the session on a firmer footing but now reside in negative territory after dismal EZ PMI metrics.
USD firmer and ultimately benefiting from poor EZ PMIs which forced EUR/USD briefly onto a 1.03 handle. Sterling hit on its own data and Retail Sales beforehand.
Bonds soar in reaction to dire EZ PMIs which have boosted the odds of a 50bps ECB cut.
Crude is slightly firmer, XAU bid and base metals hit by sentiment.
Looking ahead, US Flash PMIs. Speakers including ECB’s Nagel, Villeroy & Schnabel, SNB’s Schlegel & Fed’s Bowman.
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EUROPEAN TRADE
EQUITIES
European bourses began the session entirely in the green, but sank into negative territory following the release of the French, German and then the EZ-wide PMI figures which continue to fuel anxiety related to growth within the region.
European sectors opened with a strong positive bias, but following the PMI figures sectors are now mixed and display a slight defensive bias. Healthcare takes the top spot alongside Utilities, benefiting from the risk-off sentiment whilst Real Estate benefits from the relatively low yield environment.
US equity futures are lower across the board in tandem with the dip in sentiment seen in Europe following the region’s poor PMI figures.
USD firmer vs. all peers (ex-JPY) alongside risk aversion triggered by a dreadful set of Eurozone PMI metrics. Ahead, S&P Global PMIs are due and whilst they normally play second-fiddle to the ISMs, a strong showing from the US could see a widening of US-EZ rate differentials. DXY has been as high as 108.09 which marks a fresh YTD peak.
A dismal set of EZ PMI metrics has acted as a drag on EUR/USD with the pair printing a fresh YTD low and slipping onto a 1.03 handle for the first time since December 2022. ECB’s Schnabel is due later (slides already released). Price action has since stabilised around the 1.0420 mark.
JPY is steady vs. the USD following a session of outperformance yesterday. The latest Japanese inflation data provided little to spur price action as the figures printed mostly in line with expectations aside from the core reading which was slightly firmer-than-expected.
A busy day of data for the UK has seen retail sales and PMI reports. On the latter, all three metrics fell short of expectations with the all-important services slipping to neutral territory. GBP/USD briefly slipped onto a 1.24 handle for the first time since 9th May.
Antipodeans are both softer vs. the broadly firmer USD and in the wake of losses in Chinese equities overnight. AUD/USD has slipped back onto a 0.65 handle.
PBoC set USD/CNY mid-point at 7.1942 vs exp. 7.2502 (prev. 7.1934).
PBoC official said they will prevent the formation of one-sided expectations on the yuan and will keep the yuan basically stable at a reasonable and balanced level.
Bunds are firmly in the green and resides just off session highs following the release of the French, German and then the EZ-wide PMI figures, which boosted the odds of a 50bps cut at the ECB’s December confab. Overall, the data leaves Bunds and OATs near highs of 133.32 and 125.52 respectively.
Gilts opened lower by a handful of ticks and printed a 93.88 trough before then climbing as participants digested the morning’s retail sales data which was softer than expected across the board. Thereafter, Gilts picked up in tandem with peers and then took another leg higher following region’s own PMI figures which were softer across the board. Action which saw Gilts spike higher from 94.58 to a 94.90 peak before fading essentially all of the move.
USTs are firmer moving in tandem with the above thus far. Rose to a 109-25 peak on the morning’s flash PMIs from the bloc and France/Germany beforehand. For the session ahead, USTs await their own PMIs with the Fed docket very light today until Bowman after hours.
WTI and Brent are modestly firmer on the session, though the benchmarks came under pressure on the growth/demand implications of the EZ and UK Flash PMIs and as the USD picked up. Currently at USD 70.20/bbl and USD 74.45/bbl respectively, in the green but at the lower-end of circa. USD 0.80/bbl parameters.
Gold is in the green, benefiting from the ongoing tense geopolitical backdrop and lifting with fixed income on the dismal PMIs out of the EZ and UK. As it stands, the yellow metal is just off a USD 2707/oz best, well above Thursday’s USD 2673/oz high and at a new peak for the week.
Base metals began the session on the backfoot and then took another leg lower in tandem with the souring risk tone spurred on by the abysmal PMI metrics from France, Germany and the EZ.
Goldman Sachs sees upside risks to Brent prices in the short term with Brent seen rising to mid-USD 80s/bbl in 2025 H1 if Iran supply drops 1mln bpd on tighter sanctions enforcement, but sees medium-term price risks skewed to the downside given high spare capacity and estimates Brent to drop to the low USD 60s in 2026 in a 10% across-the-board tariff scenario or if OPEC supply rises through 2025.
Russian Deputy PM Novak tells the OPEC Secretary General that they plan to develop cooperation with OPEC. Energy market is under significant pressure, incl. price fluctuations.
Worldsteel (Oct): Global steel output 151.2mln/T, +0.4% Y/Y; China 81.9mln/T, +2.9% Y/Y.
Oil loadings from Russia’s western ports seen falling by 100k bpd to 1.8mln bpd in Dec-Nov, according to Reuters sources.
German HCOB Composite Flash PMI (Nov) 47.3 vs. Exp. 48.6 (Prev. 48.6); “…the modest increase in the future output index might reflect some hope that the next German government will manage to turn the economy around with bold measures”
German HCOB Manufacturing Flash PMI (Nov) 43.2 vs. Exp. 43.0 (Prev. 43.0); Services Flash PMI (Nov) 49.4 vs. Exp. 51.6 (Prev. 51.6)
French HCOB Composite Flash PMI (Nov) 44.8 vs. Exp. 48.3 (Prev. 48.1); “particularly alarming is the outlook for the future.” & “The only silver lining is that service providers are still creating new jobs”
French HCOB Manufacturing Flash PMI (Nov) 43.2 vs. Exp. 44.5 (Prev. 44.5); Services Flash PMI (Nov) 45.7 vs. Exp. 49.0 (Prev. 49.2)
EU HCOB Composite Flash PMI (Nov) 48.1 vs. Exp. 50.0 (Prev. 50.0); “The eurozone’s manufacturing sector is sinking deeper into recession, and now the services sector is starting to struggle after two months of marginal growth.”
EU HCOB Services Flash PMI (Nov) 49.2 vs. Exp. 51.6 (Prev. 51.6); HCOB Manufacturing Flash PMI (Nov) 45.2 vs. Exp. 46.0 (Prev. 46.0)
UK Flash Composite PMI (Nov) 49.9 vs. Exp. 51.8 (Prev. 51.8); “The November PMI is indicative of the economy slipping into a modest decline, with GDP dropping at a 0.1% quarterly rate, but the loss of confidence hints at worse to come – including further job losses –unless sentiment revives.”
UK Flash Manufacturing PMI (Nov) 48.6 vs. Exp. 50.0 (Prev. 49.9); Flash Services PMI (Nov) 50.0 vs. Exp. 52.0 (Prev. 52.0)
UK Retail Sales MM (Oct) -0.7% vs. Exp. -0.3% (Prev. 0.3%, Rev. 0.1%); Ex-Fuel MM -0.9% vs. Exp. -0.4% (Prev. 0.3%, Rev. 0.1%)
UK Retail Sales YY (Oct) 2.4% vs. Exp. 3.4% (Prev. 3.9%, Rev. 3.2%); Ex-Fuel YY (Oct) 2.0% vs. Exp. 3.3% (Prev. 4.0%, Rev. 3.2%)
German GDP Detailed QQ SA (Q3) 0.1% vs. Exp. 0.2% (Prev. 0.2%); YY NSA (Q3) 0.1% vs. Exp. 0.2% (Prev. 0.2%)
UK GfK Consumer Confidence (Nov) -18.0 vs. Exp. -22.0 (Prev. -21.0)
NOTABLE US HEADLINES
US President-elect Trump considers Kevin Warsh to serve as Treasury Secretary and then Fed Chair, according to WSJ.
US President-elect Trump nominated Pam Bondi as Attorney General after Matt Gaetz withdrew himself for consideration.
GEOPOLITICS
MIDDLE EAST
US Envoy Hochstein leaves Israel at dawn for Washington without announcing the outcome of the talks, according to Alhadath
Israeli Home Front announced that sirens sounded in Haifa Bay and Krayot, according to Al Jazeera.
Israeli army called on residents of three towns in southern Lebanon to evacuate their homes immediately, according to Asharq News.
IAEA’s board of governors passed a resolution ordering Iran to urgently improve cooperation with the IAEA, while the board asked the IAEA to produce a ‘comprehensive’ report on Iran by the spring of 2025.
OTHER
“Fearing a Russian missile attack on the government quarter in Kyiv, all sessions at Ukraine’s parliament (Verkhovna Rada) have been cancelled for today. Politicians warned to avoid the area”, via Michael Bociurkiw on X.
North Korean leader Kim called for developing and upgrading weaponry, as well as vowed to continue developing defence capabilities, while he said the US has ratcheted up tension and provocations while expanding nuclear-sharing alliances. Furthermore, Kim said the Korean Peninsula has never faced such risks of nuclear war as of now and that previous experience of negotiations with the US only highlighted its hostile policy, according to KCNA.
CRYPTO
Bitcoin climbed above USD 99k briefly in early European trade before stabilising back to around USD 98.5k.
APAC TRADE
APAC stocks mostly sustained the momentum from Wall St where stocks ultimately gained after whipsawing on geopolitical-related headlines and amid mixed data, although pressure was seen in China after weak earnings and an underwhelming briefing from Beijing.
ASX 200 rallied with energy leading the advances seen in nearly all sectors aside from tech, while sentiment was also unfazed by the contractions across Australia flash PMI figures.
Nikkei 225 gained following confirmation from Japanese PM Ishiba of a JPY 39tln stimulus package, while the latest inflation data from Japan printed mostly in line with expectations and is unlikely to have any ramifications for BoJ policy.
Hang Seng and Shanghai Comp were pressured with Baidu the worst performer in the Hang Seng Index following a decline in its profit and revenue, while sentiment was also not helped by the PBoC’s net liquidity drain and after comments from China’s Vice Commerce Minister on foreign trade failed to inspire.
NOTABLE ASIA-PAC HEADLINES
China’s Vice Commerce Minister Wang said China’s foreign trade maintained positive momentum and a stable and sound development trend but noted that China has seen slower foreign trade growth since August. Wang said regarding Trump tariffs and the yuan that China is able to resolve and resist impacts of external shock, while he added that China will safeguard its sovereignty, safety and development benefits, as well as announced that MOFCOM will roll out policies on expanding trade of green products sometime next year.
China’s MIIT said it is to develop policies for digital transformation in manufacturing and AI-driven new industrialisation.
China is willing to engage in “positive dialogue” on trade with US under President-elect Trump, according to the FT citing senior officials.
China smartphone sales +8% Y/Y in Q3, via counterpoint research
DATA RECAP
Japanese National CPI YY (Oct) 2.3% vs. Exp. 2.3% (Prev. 2.5%); Ex. Fresh Food YY (Oct) 2.3% vs. Exp. 2.2% (Prev. 2.4%)
Japanese National CPI Ex. Fresh Food & Energy YY (Oct) 2.3% vs. Exp. 2.3% (Prev. 2.1%)
Japanese JibunBK Manufacturing PMI Flash SA (Nov) 49.0 (Prev. 49.2); Services PMI Flash SA (Nov) 50.2 (Prev. 49.7)
Japanese JibunBK Composite Op Flash SA (Nov) 49.8 (Prev. 49.6)
Australian Judo Bank Manufacturing PMI Flash (Nov) 49.4 (Prev. 47.3); Services PMI Flash (Nov) 49.6 (Prev. 51.0)
Australian Judo Bank Composite PMI Flash (Nov) 49.4 (Prev. 50.2)
Singapore GDP QQ (Q3 F) 3.2% vs Exp. 2.5% (Prelim. 2.1%); YY (Q3 F) 5.4% vs Exp. 4.6% (Prelim. 4.1%
2C ASIAN REPORT
US stocks finished higher, China lagged overnight, geopols continues to drive action; PMIs ahead – Newsquawk Europe Market Open
Friday, Nov 22, 2024 – 01:43 AM
US stocks ultimately finished higher with APAC mostly sustaining this momentum though China lagged
DXY contained but remains above 107.00, EUR below 1.05 and Cable near 1.2550
Fixed benchmarks are firmer but only modestly so as we await Flash PMIs
Crude underpinned by ongoing geopolitical tensions as Russia fired a new medium-range ballistic missile
US President-elect Trump considers Kevin Warsh to serve as Treasury Secretary and then Fed Chair, via WSJ
Looking ahead, highlights include EZ, UK & US PMIs, UK Retail Sales, Speakers including ECB’s Lagarde, Nagel, Villeroy, de Guindos & Schnabel, SNB’s Schlegel & Fed’s Bowman
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US TRADE
EQUITIES
US stocks ultimately finished higher after whipsawing throughout the day as participants digested NVIDIA (NVDA) earnings, geopolitical updates and mixed US data releases. There were early geopolitical escalation fears after Russia attacked Ukraine with what was initially reported as an ICBM although Western officials and Russian President Putin later stated it was an intermediate-range missile and the US also said it was not a game changer which facilitated the improvement in risk appetite. Furthermore, there were several data releases which printed mixed, while the latest comments from Fed speakers provided little to shift the dial.
SPX +0.53% at 5,949, NDX +0.36% at 20,741, DJIA +1.06% at 43,870, RUT +1.65% at 2,364
Fed’s Goolsbee (2025 voter) said it makes sense to slow the pace of interest rate cuts as the Fed gets close to where rates will settle, while he added that over the next year, it feels like rates will end up a fair bit lower than where they are today. Furthermore, he said inflation is on its way down to 2% and the labour market is close to stable full employment.
US President-elect Trump considers Kevin Warsh to serve as Treasury Secretary and then Fed Chair, according to WSJ.
US President-elect Trump nominated Pam Bondi as Attorney General after Matt Gaetz withdrew himself for consideration.
US SEC Chair Gensler plans to step down from the agency in January, while it was also reported that former SEC commissioner Paul Atkins is said to be in the lead position to replace Gensler, according to FBN’s Gasparino.
APAC TRADE
EQUITIES
APAC stocks mostly sustained the momentum from Wall St where stocks ultimately gained after whipsawing on geopolitical-related headlines and amid mixed data, although pressure was seen in China after weak earnings and an underwhelming briefing from Beijing.
ASX 200 rallied with energy leading the advances seen in nearly all sectors aside from tech, while sentiment was also unfazed by the contractions across Australia flash PMI figures.
Nikkei 225 gained following confirmation from Japanese PM Ishiba of a JPY 39tln stimulus package, while the latest inflation data from Japan printed mostly in line with expectations and is unlikely to have any ramifications for BoJ policy.
Hang Seng and Shanghai Comp were pressured with Baidu the worst performer in the Hang Seng Index following a decline in its profit and revenue, while sentiment was also not helped by the PBoC’s net liquidity drain and after comments from China’s Vice Commerce Minister on foreign trade failed to inspire.
US equity futures were rangebound but held on to most of the gains in the aftermath of yesterday’s price fluctuations.
European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.3% after the cash market closed higher by 0.6% on Thursday.
FX
DXY traded little changed but held on to the prior day’s spoils after climbing to above the 107.00 level in a continuation of its recent upward momentum which coincided with gains in short-term yields and increased concerns regarding the Russia-Ukraine war. Furthermore, the mixed bag of US data releases failed to derail the dollar and there were several Fed comments including from Goolsbee who noted that it makes sense to slow the pace of interest rate cuts as the Fed gets close to where rates will settle.
EUR/USD languished near a yearly low after slipping beneath the 1.0500 handle against the stronger dollar, while the contraction in EU Consumer Confidence was worse than feared and ECB rhetoric continued to suggest looming cuts.
GBP/USD remained subdued beneath the 1.2600 level after falling to a six-month low and with participants now awaiting Retail Sales.
USD/JPY price action was rangebound overnight with Japan’s currency taking a breather after outperforming the greenback yesterday on the back of heightened geopolitical concerns, while the latest Japanese inflation data provided little to spur price action as the figures printed mostly in line with expectations aside from the core reading which was slightly firmer-than-expected at 2.3% (exp. 2.2%).
Antipodeans were ultimately pressured as AUD/USD failed to sustain early gains that was spurred by cross-related flows in which AUD/NZD surged after climbing above the 1.1100 level, while NZD/USD underperformed and trickled to its lowest level in a year.
PBoC set USD/CNY mid-point at 7.1942 vs exp. 7.2502 (prev. 7.1934).
PBoC official said they will prevent the formation of one-sided expectations on the yuan and will keep the yuan basically stable at a reasonable and balanced level.
FIXED INCOME
10yr UST futures slightly recovered from the recent trough but with the rebound limited after mixed data and a weak TIPS auction.
Bund futures took a breather following Thursday’s gains whereby geopolitical headlines spurred an early flight to quality.
10yr JGB futures gradually edged higher in rangebound trade after Japanese CPI data printed mostly in line with estimates.
COMMODITIES
Crude futures remained afloat following the Russia-Ukraine escalation in which Russia fired a new medium-range ballistic missile at Ukraine which was initially suspected to be an ICBM.
Goldman Sachs sees upside risks to Brent prices in the short term with Brent seen rising to mid-USD 80s/bbl in 2025 H1 if Iran supply drops 1mln bpd on tighter sanctions enforcement, but sees medium-term price risks skewed to the downside given high spare capacity and estimates Brent to drop to the low USD 60s in 2026 in a 10% across-the-board tariff scenario or if OPEC supply rises through 2025.
Spot gold gradually extended on gains despite the recent dollar and with bids seen as Shanghai commodities trade got underway.
Copper futures retreated with demand sapped by the negative mood seen in its largest buyer, China.
CRYPTO
Bitcoin continued on its record-setting trend and briefly climbed above the USD 99,000 level for the first time.
Former CFTC Chairman Chris Giancarlo is reportedly eyed for the “crypto czar” role, according to Fox News
NOTABLE ASIA-PAC HEADLINES
China’s Vice Commerce Minister Wang said China’s foreign trade maintained positive momentum and a stable and sound development trend but noted that China has seen slower foreign trade growth since August. Wang said regarding Trump tariffs and the yuan that China is able to resolve and resist impacts of external shock, while he added that China will safeguard its sovereignty, safety and development benefits, as well as announced that MOFCOM will roll out policies on expanding trade of green products sometime next year.
China’s MIIT said it is to develop policies for digital transformation in manufacturing and AI-driven new industrialisation.
DATA RECAP
Japanese National CPI YY (Oct) 2.3% vs. Exp. 2.3% (Prev. 2.5%)
Japanese National CPI Ex. Fresh Food YY (Oct) 2.3% vs. Exp. 2.2% (Prev. 2.4%)
Japanese National CPI Ex. Fresh Food & Energy YY (Oct) 2.3% vs. Exp. 2.3% (Prev. 2.1%)
Japanese JibunBK Manufacturing PMI Flash SA (Nov) 49.0 (Prev. 49.2)
Japanese JibunBK Services PMI Flash SA (Nov) 50.2 (Prev. 49.7)
Japanese JibunBK Composite Op Flash SA (Nov) 49.8 (Prev. 49.6)
Australian Judo Bank Manufacturing PMI Flash (Nov) 49.4 (Prev. 47.3)
Australian Judo Bank Services PMI Flash (Nov) 49.6 (Prev. 51.0)
Australian Judo Bank Composite PMI Flash (Nov) 49.4 (Prev. 50.2)
Singapore GDP QQ (Q3 F) 3.2% vs Exp. 2.5% (Prelim. 2.1%)
Singapore GDP YY (Q3 F) 5.4% vs Exp. 4.6% (Prelim. 4.1%)
GEOPOLITICS
MIDDLE EAST
Israeli Home Front announced that sirens sounded in Haifa Bay and Krayot, according to Al Jazeera.
Israeli army called on residents of three towns in southern Lebanon to evacuate their homes immediately, according to Asharq News. IAEA’s board of governors passed a resolution ordering Iran to urgently improve cooperation with the IAEA, while the board asked the IAEA to produce a ‘comprehensive’ report on Iran by the spring of 2025.
US lawmakers introduced measures seeking to halt the sale of some weapons to the UAE, citing Sudan concerns.
RUSSIA-UKRAINE
Russian President Putin said after long-range strikes from Ukraine, the regional conflict gained elements of a global one and the enemy didn’t achieve its goals, while he added that such actions won’t influence the situation in Ukraine and that Russia fired a new medium-range ballistic missile which was conducted in response to Western aggression. Furthermore, he said Russia will respond symmetrically in the case of escalation and if Russia does use the hypersonic weapon against Ukraine, they will warn civilians.
Ukrainian President Zelenskiy said Russian President Putin’s missile strike on Thursday was a clear and severe escalation in the scale and brutality of the war, while he added the missile use shows Putin is not interested in peace and the world must respond. Furthermore, he said a lack of response sends the message that such behaviour is acceptable.
US official said the US was pre-notified by Russia before Thursday’s missile strike through nuclear risk reduction channels. Furthermore, a US official said Russia likely only possesses a handful of experimental intermediate-range ballistic missiles used for the strike on Thursday and the missile use seeks to intimidate Ukraine but does not mark a game-changer.
North Korea’s entry into the Ukraine war and Donald Trump’s election win factored into the US decision to relax Ukraine missile controls and Biden aides see easing of controls on Ukraine missiles as part of an effort to ‘Trump-proof’ Ukraine policy, according to sources cited by Reuters.
OTHER
North Korean leader Kim called for developing and upgrading weaponry, as well as vowed to continue developing defence capabilities, while he said the US has ratcheted up tension and provocations while expanding nuclear-sharing alliances. Furthermore, Kim said the Korean Peninsula has never faced such risks of nuclear war as of now and that previous experience of negotiations with the US only highlighted its hostile policy, according to KCNA.
EU/UK
DATA RECAP
UK GfK Consumer Confidence (Nov) -18.0 vs. Exp. -22.0 (Prev. -21.0)
3B NORTH KOREA/SOUTH KOREA
NORTH KOREA/RUSSIA/UKRAINE
END
3C JAPAN
3D. CHINA/TAIWAN/INDO PACIFIC
CHINA/
My goodness; Chinese agent has guts trying to bribe the IRS.
(zerohedge)
Chinese Agent Who Tried To Bribe IRS Against Shen Yun Sentenced To 20 Months in Prison
A Chinese agent who tried to bribe the IRS and manipulate the agency into advancing Beijing’s transnational repression of a U.S. nonprofit has received a 20-month prison sentence.
U.S. citizen John Chen, 72, was a principal actor in a $50,000 bribery scheme under the direction of a Chinese intelligence official to revoke the nonprofit status of New York-based Shen Yun Performing Arts.
Shen Yun has long been on the Chinese regime’s target list. Founded in 2006, the company tours around the world to display the ancient Chinese culture that prevailed before the communist takeover of China, while highlighting the human rights abuses under the regime’s rule. It has often drawn attention to the ongoing persecution of the meditation group Falun Gong.
Chen pleaded guilty in July after reaching a plea deal with prosecutors. He has spent the 16 months since his arrest in May 2023 in detention, and he will spend another four months in federal custody.
He will also forfeit $50,000 and face three years of supervised release after serving the full prison term.
For several months in 2023, Chen had been trying to move a fraudulent whistleblower complaint to help the Chinese Communist Party “topple” Falun Gong, according to court documents. Prosecutors said the whistleblower complaint was “facially deficient” and invoked propaganda rhetoric typical of Chinese authorities.
During those conversations, Chen emphasized that Chinese leadership was “very generous” in financial support for the plan, according to the court filing.
“After this-this-this thing is done,” the court document quoted Chen as saying, “reward for work will surely be given at that time.”
Chen and another co-conspirator, Lin Feng, who served 16 months of detention, paid $5,000 cash bribes to an undercover agent posing as an IRS agent. They promised an additional $50,000 for opening an investigation along with 60 percent of any awards from the complaint if it went through.
It was “a significant bribe,” Assistant U.S. Attorney Michael Lockard said at the sentencing hearing. He noted that the undercover officer didn’t specify an amount.
“The defendant chose the amount,” he said.
Both Chen and Lin had traveled to Orange County in upstate New York, where Shen Yun is based, to surveil Falun Gong practitioners there, according to a court filing.
Damian Williams, the U.S. attorney for the Southern District of New York, said the sentencing was a reminder that “the U.S. justice system will hold accountable those who attempt to engage in malicious transnational repression on American soil.”
“John Chen aligned himself with the PRC government and its goals to harass and intimidate the Falun Gong, a long-standing target of PRC repression. In doing so, Chen boldly attempted to bribe an individual he believed to be an IRS agent to corrupt the administration of the U.S. tax code and pervert the IRS whistleblower program,” he said in a statement on Nov. 19. “This Office will not tolerate efforts like this to repress free speech by targeting critics of the PRC in the United States.”
Both Chen’s son and his lawyer declined to comment after walking out of the courtroom.
While Chen’s son, three China-based siblings, two ex-wives, and fiancée have all written letters asking for leniency and describing him as a man who loves the United States, the prosecutors disagreed.
In a Nov. 5 memo, they argued that a 30-month prison sentence—the longest under the sentencing guideline—would be appropriate because of the seriousness of the case and the need to deter criminal conduct, “particularly in cases of a foreign power’s repression of a disfavored group within the borders of the United States.”
“The defendant has no mitigating motives or external factors justifying his offense,” the prosecutors wrote, noting that Chen was “not motivated by poverty” and that there was no evidence of Chinese officials’ pressure.
Prosecutors noted that Chen had repeatedly referred to Chinese officials as his “friends” and that during the bribery scheme, he “called them ‘blood brothers,’ and described how ‘we’—Chen and his PRC Government friends—‘started this fight’ against the founder of the Falun Gong ‘twenty, thirty years ago.’”
The memo displayed photos obtained from Chen’s electronic devices and online accounts showing him at a major military parade in Beijing celebrating the 70th anniversary of Chinese communist rule in 2019. Another photo showed Chen shaking hands with communist leader Xi Jinping.
“Chen was extraordinarily proud of his history with the PRC Government and, in particular, his meeting with Xi,” the memo states, citing a recorded call in which he bragged that he had “climbed, climbed, climbed to this position,” and that “Uncle Xi” met him “three times in 10 years.”
Chen had also featured those three meetings, along with a photo, in a 2020 digital résumé, according to the memo.
Chen was aligned with the Chinese authorities in suppressing Falun Gong and “acted as a full-fledged and enthusiastic participant in the crimes,” the prosecutors said.
“It was his fight,” Lockard said at the sentencing hearing, adding that Chen had tried to use the freedoms he enjoyed in the United States to undermine the country.
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
GERMANY
German economy is in serious trouble
(Remix)
63% Of All Welfare Recipients In Germany Have A Migration Background
Data from the German federal government shows that the overwhelming majority of those receiving welfare payments, known as citizen’s money in Germany, have a foreign background.
The statistics from the Federal Employment Agency (BA), provided to Welt newspaper, show that of the more than 4 million people who can work but receive social benefits, more than 2.5 million have a migration background, constituting 63.5 percent. This group includes foreigners and those who have a foreign background, which means their parents may have been born abroad.
The cost of providing this social welfare rose to €12.2 billion last year, but in total, Germany spent nearly €50 billion on immigrants and protecting its border last year.
Many of those receiving this money are actually Ukrainians who have been fleeing the war since 2022. They cost German taxpayers €5.8 billion last year while Syrians cost €3.5 billion. Afghans were behind with €1.3 billion.
Not everyone who receives this allowance is unemployed, but they often receive so little money that they are eligible for additional welfare support. In June 2024, 57 percent of citizen’s allowance recipients received this benefit without being unemployed. Critics argue that this pool of labor provides a cheap workforce that employers are exploiting.
The Alternative for Germany (AfD) party responded to the news, writing: “Our social state is being looted. This is the result of the policy of mass migration, driven by the CDU and the traffic light parties for years. CDU chief Merz stands out with hypocritical criticism of this development, but without the CDU, we wouldn’t be feeding a big city with more than 2.5 million migrants from citizens’ money. It is the CDU that systematically blocks a migration turnaround in all the federal states where it governs.”
As Remix News previously noted, it was reported that nearly 50 percent of welfare recipients are foreign; however, the new data also includes those with a “migration background.” The new figure provides a more accurate view of the makeup of welfare recipients.
Germany Admits It’s Unlikely To Arrest Netanyahu On ICC Warrant
Friday, Nov 22, 2024 – 10:40 AM
In the wake of Thursday’s International Criminal Court (ICC) decision to issue formal arrest warrants for Prime Minister Benjamin Netanyahu and former defense minister Yoav Gallant over alleged war crimes in Gaza, the White House says it “fundamentally rejects” the move and won’t recognize it (though the US has never been a member state of the ICC).
“Let me be clear once again: whatever the ICC might imply, there is no equivalence — none — between Israel and Hamas. We will always stand with Israel against threats to its security” President Joe Biden said in reaction, agreeing with Israel that it is “outrageous.”
But the reaction in Europe has been mixed. While all 27 member states of the EU are part of the ICC, Hungary has been most vocal in rejecting the warrants and The Hague court’s ruling, while Germany has said it is “examining” how to respond while signaling it’s unlikely to enforce it if PM Netanyahu visits the country.
Germany’s Foreign Minister Annalena Baerbock said on Friday, “We are now of course examining exactly what that means for implementation in Germany.” According to more:
Whether German authorities would move to arrest Netanyahu or former Israeli defence minister Yoav Gallant, who also had a warrant issued against him, is currently “theoretical”, Baerbock said.
Germany is “bound by” the court as a country which recognizes the body and respects international law, she said.
Clearly this has put Berlin, a staunch supporter of Israel, in an awkward position. This was acknowledged when government spokesperson Steffen Hebestreit was pressed by reporters over whether Germany authorities would actually carry out an arrest on the Israeli prime minister.
He replied candidly, “It’s hard for me to imagine that we would carry out arrests in Germany on this basis.”
The UK has meanwhile said it would conform to the ICC ruling, theoretically at least, as well as the following EU countries:
Despite Hungary’s resistance, Italy, Ireland, Belgium, the Netherlands and France have signaled that they would respect the court’s decision and potentially arrest Netanyahu if he travelled to one of their countries.
Italy’s Defence Minister Guido Crosetto said Thursday that although it was “wrong” to compare Netanyahu and Gallant to Hamas, if the pair were to enter Italy, “we would have to arrest them”.
This comparison to Hamas remark is in reference to the court having simultaneously issued an arrest warrant for Mohammed Deif, the already slain head of the military wing of Hamas.
US ‘fundamentally rejects’ ICC warrants, says it’s working with Israel on next steps
Biden calls move ‘outrageous’; Trump’s NSA pick vows strong response to ‘antisemitic bias’ as lawmakers urge sanctions on court, though Tlaib says decision long ‘overdue’
International Criminal Court (ICC) Prosecutor Karim Khan visits the Ohmatdyt Children’s Hospital in Kyiv, Ukraine, that was hit by Russian shelling on July 8, 2024. (Handout / International Criminal Court / AFP)
The White House on Thursday said it “fundamentally rejects” the International Criminal Court’s decision to issue arrest warrants against Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant for alleged war crimes in Gaza.
Some lawmakers, including US President-elect Donald Trump’s pick for national security adviser, urged sanctions against The Hague-based ICC over the decision, and Israel was said to be working with the incoming administration on punitive measures against the court. One Republican senator hinted the US should invade The Hague in retaliation for the warrants.
“Let me be clear once again: whatever the ICC might imply, there is no equivalence — none — between Israel and Hamas. We will always stand with Israel against threats to its security,” US President Joe Biden said in his first statement responding to the ICC decision, which he denounced as “outrageous.”
White House Press Secretary Karine Jean-Pierre said the US would not execute the arrest warrants, and called the ICC move a “flawed process.”
“In contrast to how [Chief ICC Prosecutor Karim Kahn] has treated others, including [probed Venezuelan President] Nicolas Maduro and his associates, the prosecutor failed to provide Israel with a meaningful opportunity to engage constructively and to properly consider its domestic processes,” she said. “This calls into question the credibility of the prosecutor and his investigation,” she added.
By contrast, Michigan Representative Rashida Tlaib — a member of the ultra-progressive “Squad” Democrats and only Palestinian-American member of Congress — welcomed the ICC’s “long overdue decision,” saying it “signals that the days of the Israeli apartheid government operating with impunity are ending.”
The warrants effectively bar Netanyahu and Gallant from entering the ICC’s 124 member states. Israel and the US, neither of which are members of the court, have slammed the motion to arrest Netanyahu and Gallant.
ICC Chief Prosecutor Karim Khan had announced in May that he was seeking the arrest of Netanyahu and Gallant, as well as three Hamas leaders who have since been killed. At the time, the US administration assailed Khan, saying he had failed to provide Israel with the opportunity to investigate the claims.
However, the Biden administration has so far rejected calls from Republican lawmakers to sanction the court as Trump had done in his first term.
Prime Minister Benjamin Netanyahu (left) speaks in a video statement on November 12, 2024. (Screenshot/GPO); Then-defense Minister Yoav Gallant speaks during a press conference at the Kirya military headquarters in Tel Aviv, on November 5, 2024. (Miriam Alster/Flash90)
On Thursday, a White House National Security Council spokesperson told The Times of Israel that Washington is “deeply concerned by the prosecutor’s rush to seek arrest warrants and the troubling process errors that led to this decision.”
“The United States has been clear that the ICC does not have jurisdiction over this matter,” the spokesperson added. “In coordination with partners, including Israel, we are discussing next steps.”
The Kan public broadcaster reported Thursday that Israel had compiled a list of sanctions that the Trump administration could slap on the court. The list was said to include specific figures in the court who could be targeted.
In June, the US House passed a bill that would cancel the US visas of ICC officials, restrict entry of, and place financial restrictions on any of the court’s officials who are seeking to detain or prosecute allies of the United States. Biden said he was “strongly opposed” to the legislation, which passed with a majority of 247-155, including with the support of 42 Democrats.
US President Joe Biden, right, meets with US President-elect Donald Trump in the Oval Office of the White House in Washington, DC, on November 13, 2024. (Saul Loeb/AFP)
It has not been taken up by the US Senate, however, though Majority Leader Chuck Schumer, a New York Democrat, called the initial request for arrest warrants “reprehensible.”
Hinting at the direction of the next White House, Trump’s slated national security adviser, the hawkish Republican Representative Mike Waltz of Florida, wrote on X that “You can expect a strong response to the antisemitic bias of the ICC and UN come January,” when Trump takes office.
“The ICC has no credibility and these allegations have been refuted by the US government,” wrote Waltz, adding that “Israel has lawfully defended its people [and] borders from genocidal terrorists.”
As yet, there have been no comments from Trump himself or the rest of his foreign policy picks: New York Representative Elise Stefanik, who is slated to be Washington’s next ambassador to the UN, and Florida Senator Marco Rubio, whom Trump selected for US Secretary of State.
Rep. Michael Waltz of Florida, speaks before then-US President Donald Trump during a campaign rally at the Ocala International Airport in Ocala, Florida, October 16, 2020. (AP Photo/Phelan M. Ebenhack)
However, Republican Senator Tom Cotton of Arkansas, whom Trump reportedly considered for Secretary of Defense, implied the US should invade The Hague over the warrants against Netanyahu and Gallant.
“The ICC is a kangaroo court and Karim Khan is a deranged fanatic. Woe to him and anyone who tries to enforce these outlaw warrants,” wrote Cotton on X. “Let me give them all a friendly reminder: the American law on the ICC is known as The Hague Invasion Act for a reason. Think about it.”
Senator Lindsey Graham of South Carolina, another Trump-aligned hawk, alluded to Khan’s alleged sexual misconduct in assailing the ICC.
“Calling for an independent investigation of the prosecutor’s misconduct one day and issuing a warrant based on his work product the next day is an affront to any sense of fairness and the rule of law,” wrote Graham on X.
“The Court is a dangerous joke. It is now time for the US Senate to act and sanction this irresponsible body,” he wrote.
Republican Sen. Tom Cotton of Arkansas, arrives for a meeting of US Senate Republicans on Capitol Hill in Washington, November 13, 2024. (AP Photo/Mark Schiefelbein)
Senator John Thune of South Dakota, the newly elected leader of US Senate Republicans, slammed the ICC, saying its “outrageous, unlawful and dangerous” actions “threaten Israel, but left unchecked they could pose a threat to the United States in the future.”
He urged his Democratic counterpart, Schumer, to bring before the US Senate the bill that would sanction the ICC.
“If he chooses not to act, the new Senate Republican majority next year will,” said Thune, whose party won control of the Senate in the November 5 election.
Senator Jim Risch of Idaho, the leading Republican on the US Senate’s Foreign Relations Committee, also assailed the ICC’s move as a “complete disgrace,” adding that Israel is not under the court’s jurisdiction.
“The US must move forward with sanctions against this corrupt organization,” wrote Risch on X.
His counterpart on the House of Representatives Foreign Affairs Committee, Representative Michael McCaul of Texas, also assailed the ICC’s “anti-Israel witch hunt blatantly ignores the actual facts of this conflict.”
“Israel, like the United States, is not a member of the ICC, and has shown it can investigate and hold its own citizens accountable when necessary,” said McCaul. “The Senate must act immediately to enact our bill and protect American servicemembers and officials, and our allies.”
Representative Ritchie Torres — a firmly pro-Israel Democrat, whose New York district includes the large Jewish community of Riverdale in the Bronx — joined the call for sanctions against the “kangaroo court,” breaking with the Biden administration.
“Not only did Hamas wage war on Israel, causing the deadliest day for Jews since the Holocaust, it carefully constructed a battlefield designed to maximize the loss of civilian life,” he wrote. “The ICC should be sanctioned not for enforcing the law but for distorting it beyond recognition.”
US Rep. Ritchie Torres, a New York Democrat, at a house ruined during Hamas’s onslaught of October 7, 2023, in Kibbutz Nir Oz, March 31, 2024. (Gabriel Sod, Courtesy of UJA-Federation)
Another pro-Israel Democrat, Senator John Fetterman of Pennsylvania, slammed the court, but stopped short of calling for sanctions on it.
Sharing a news report about the arrest warrants, Fetterman wrote: “No standing, relevance, or path. Fuck that.”
The war in Gaza was sparked on October 7, 2023, when thousands of Hamas-led terrorists stormed southern Israel to kill some 1,200 people and take 251 hostages. Israel’s counteroffensive has killed more than 44,000 people, according to the Hamas health ministry. The figure cannot be independently verified and does not distinguish between civilians and combatants, of whom Israel says it has killed at least 17,000 in Gaza, in addition to about 1,000 inside Israel during the onslaught.
The ICC accuses Netanyahu and Gallant — whom the prime minister fired earlier this month — of targeting civilians and using starvation as a weapon of war. The court on Thursday also issued a warrant for Hamas military chief Mohammed Deif, who Israel says was killed by an IDF strike in Gaza in July.
Khan had sought arrest warrants for Deif and slain Hamas leaders Ismail Haniyeh and Yahya Sinwar for the terror group’s massacre.
end
ISRAEL /ICC COURT/FRIDAY MORNING/EDITORIAL
ICC risks its credible reputation with warrants against Netanyahu and Gallant – editorial
Some will see the ICC’s decision as reasonable, and that is exactly what will ultimately strip the court of its legitimacy.
November 21, 2024 – the day the International Criminal Court in The Hague issued arrest warrants for alleged war crimes against Prime Minister Benjamin Netanyahu and former defense minister Yoav Gallant – will go down as the day that led to the demise of the ICC itself.
Not the demise of Israel – as some of the enemies of the Jewish state fantasize the decision will expedite – but rather of the ICC itself.
Why? Because this decision will be seen by reasonable people around the world – and there are reasonable people around the world – as a farce, a joke, a miscarriage of justice. The authority of courts, all courts, rests in the degree of credibility it has in the eyes of those it is meant to serve.
The decision to issue an arrest warrant for Netanyahu and Gallant for fighting a terrorist army that openly states it wants to destroy the Jewish state and which started this war with a brutal orgy of violence worthy of the Middle Ages and Nazi Germany is something that will ultimately strip the court of any shred of legitimacy.
Just as the effectiveness and stature of the United Nations began to decline when Israel’s enemies turned it into a bludgeon with which to bash the Jewish State, so too will the ICC lose any relevance as a result of turning democratic Israel into a war criminal for fighting a just war for its survival.
IDF soldiers from the Kfir brgigade operate in the Gaza Strip, November 20, 2024. (credit: IDF SPOKESPERSON’S UNIT)
Israel-Hamas war is wholly different
The kind of war Israel is fighting in Gaza – against a terrorist organization for which the norms of civilization have no meaning – is not covered in international law. The laws of nations are those that deal with war between states who act in accordance with the same law. It is not the same as the situation Israel is in, where one side is a state bound by international law and the other side is a terrorist army hiding behind civilians and intentionally drawing fire toward civilians as a tactic of war.
The ICC was established by the Rome Statute in 2002 to ensure accountability and prevent atrocities by providing a forum for justice when national courts are unable or unwilling to act. That is definitely not the case in Israel.
Whether or not the government erred by not setting up a Government Commission of Inquiry into October 7 and the aftermath is debatable. There is no doubt that Israel has an independent judiciary that holds its citizens – including its highest officials – accountable for misdeeds.
The ICC rests on the principle of complementarity: the idea that the court respects the independence of national legal systems by letting domestic courts investigate and prosecute crimes. It is this principle that kept the court from ever before issuing an arrest warrant against the leader of a democratic country. Democratic countries have courts that can – and do – police themselves.
That the court is now going after leaders of a democracy may lead to other countries leaving the court, fearful that they too – in a battle with terrorists, such as ISIS, for instance – will be accused of war crimes.
Incoming US Senate Majority Leader John Thune gave voice to such fears on Wednesday, a day before ICC prosecutor Karim Khan – himself under investigation for sexual misconduct – issued the international arrest warrants.
Calling the ICC’s pursuing warrants against Netanyahu and Gallant “outrageous” and “unlawful,” Thune said “the ICC’s rogue actions are a threat to our ally Israel and, left unchecked, can pose a threat to America in the future.”
How so? Because someday a prosecutor may use this as a precedent to go after American leaders or soldiers battling terrorists in an urban setting somewhere around the world.
“The House of Representatives has already passed a bill sanctioning the ICC,” Thune said, calling on current Senate Majority Leader Chuck Schumer to bring that bill to the Senate for passage. “If he refuses to act, our Senate Republican majority next year will. We will stand with Israel and make this and other supportive legislation a top priority in Congress.”
Incoming US National Security Adviser Rep. Mike Waltz of Florida said on social media that the ICC has no credibility and these allegations have been refuted by the US government. “Israel has lawfully defended its people and borders from genocidal terrorists. You can expect a strong response to the antisemitic bias of the ICC and UN come January.”
Such a reaction will undoubtedly ripple through other Western democracies and severely degrade the authority and reputation of the ICC.
Israel will survive this scandalous decision; the ICC may not.
END
ISRAEL/HEZBOLLAH/OPINION
END
ISRAEL//HAMAS/HEZBOLLAH
END
ISRAEL HAMAS
DF infantryman killed in Gaza’s Jabalia; soldier seriously hurt in separate incident
Military source says Staff Sgt. Ron Epshtein was killed by shrapnel from artillery shell amid fighting in the area; rocket fired from southern Strip intercepted by air defenses
Staff Sgt. Ron Epshtein, killed in the Gaza Strip on November 21, 2024. (Israel Defense Forces)
An IDF soldier was killed during fighting in the northern Gaza Strip earlier Thursday, the military announced, bringing Israel’s toll in the ground offensive against Hamas in Gaza and military operations along the border with the Strip to 380.
The slain soldier was named as Staff Sgt. Ron Epshtein, 19, of the Givati Brigade’s Tzabar Battalion, from Nesher.
According to a military source, Epshtein was killed by shrapnel from an artillery shell that was fired at the Jabalia area amid an ongoing operation there. Another two soldiers were lightly wounded in the incident.
Separately on Wednesday, an IDF soldier with the Givati Brigade’s Rotem Battalion was seriously wounded in the northern Gaza Strip, the IDF said.
The soldier was taken to the hospital for medical treatment, it added.
Earlier on Thursday, a rocket launched from the southern Gaza Strip at the Israeli border community of Keren Shalom was intercepted by air defenses on, the IDF said.
Sirens sounded in Kerem Shalom amid the incident. There were no reports of injuries.
Troops operate in Jabalia in the Gaza Strip, in a handout image released by the IDF on November 21, 2024. (Israel Defense Forces)
Inside Gaza, dozens were killed or unaccounted for after a series of Israeli strikes, health authorities, Hamas-linked officials and witnesses said Thursday.
One strike near the Kamal Adwan hospital in the north of the territory left “dozens of people” dead or missing, the facility’s director Hossam Abu Safiya tells AFP.
Israel has said there has been regular Hamas activity at the northern Gaza hospital.
Another strike was reported in a neighborhood of Gaza City, with civil defense spokesman Mahmud Bassal saying 22 were dead.
“There is a headless body. We don’t yet know who this is,” Moataz al-Arouqi, who lives in the area, told AFP.
The IDF has not issued any comment on the matter.
Palestinians walk next to the debris of a building in Beit Lahia, in the northern Gaza Strip, on November 21, 2024. (AFP)
COGAT, Israel’s civilian coordination agency for the Palestinian territories, said Wednesday that some 7 tons (7,200 kilograms) of humanitarian aid was delivered to the Gaza Strip today by eight Jordanian Air Force helicopters for the first time.
In a statement, the IDF said that the transfer was carried out as part of Israel’s “effort to increase the volume and routes of aid entering Gaza.”
It said that the aid delivery was comprised of hygiene and sanitation supplies, food, baby formula, medical equipment, and 30 different medications.
The Jordanian military said the aid was being delivered to Al-Qarara, an area near Gaza’s southern city of Khan Younis, where it would then be handed over to the World Food Program for distribution.
“Code-word today is hunger everywhere in Gaza. Looters are sharing the occupation’s war against the displaced,” said Tamer, a Gaza City man now living alongside hundreds of thousands of people who have crowded into Deir Al-Balah in central Gaza.
Residents get bread at a bakery in Deir al-Balah, Gaza Strip, November 21, 2024. (AP Photo/Abdel Kareem Hana)
Israel has said it seeks to minimize civilian fatalities and stresses that Hamas uses Gaza’s civilians as human shields, fighting from civilian areas including homes, hospitals, schools, and mosques.
The International Criminal Court dismissed these efforts Thursday, issuing arrest warrants for Prime Minister Benjamin Netanyahu and former defense minister Yoav Gallant over the war in Gaza, on charges of crimes against humanity and war crimes, which the court’s top prosecutor Karim Khan alleges were committed during the ongoing war against Hamas in Gaza.
The warrants were strongly denounced by Israel, with Netanyahu slamming them as a “modern day Dreyfus trial.”
The war in Gaza erupted when thousands of Hamas-led terrorists burst across the border into Israel on October 7, 2023, killing some 1,200 people, and seizing 251 hostages.
Israel then launched a military operation aimed at eliminating the terror group and rescue the hostages.
The Hamas-run Gaza health ministry says more than 42,000 people in the Strip have been killed or are presumed dead in the fighting so far, though the toll cannot be verified and does not differentiate between civilians and fighters. Israel says it has killed some 18,000 combatants in battle as of November and another 1,000 terrorists inside Israel on October 7.
END
ISRAEL/HAMAS
IDF destroys some 300 booby-trapped structures in Jabalya
The identification and destruction of the structures were part of a larger operation of the troops in the area to dismantle explosive devices.
A bag containing explosives that was found near the body of a Hamas terrorist in the Gaza Strip, November 22. 2024.(photo credit: IDF SPOKESPERSON’S UNIT)
Some 300 booby-trapped structures have been detected and demolished by IDF engineering troops in Jabalya in the northern Gaza Strip, the military said on Friday.
The military added that terrorists had positioned explosives in the structures to form an ambush for the troops.
The identification and destruction of the structures were part of a larger operation of the troops in the area to dismantle explosive devices.
In parallel to such operations, the IDF said that troops of the 162nd Division killed numerous terrorists and demolished terror infrastructure via tank fire and using precise strikes. Troops also located many Hamas weapons.
Soldiers also killed terrorists through close-quarters combat and with the aid of aircraft. On the body of one of the terrorists who was killed, troops found a bag with an explosive device and cameras.
Detecting additional terror infrastructure
Further, during operations in the area, troops arrested many terrorists whose interrogations by Unit 504 yielded much information, which aided in detecting terror infrastructure in the area, the military noted.
ISRAEL.HEZBOLLAH/.OPINION
Permanent solution to Hezbollah conflict lies in Lebanon’s parliament – expert
According to Baram, the current ceasefire proposal would allow Hezbollah to regain its strength within a year or two.
By 103FMNOVEMBER 22, 2024 14:21
Fighters of the Lebanese Shiite terrorist group Hezbollah attend the funeral of the group’s top military commander Ibrahim Aqil in Beirut’s southern suburbs on September 22, 2024.(photo credit: AFP PHOTO)
While the ceasefire proposal brokered by the US between Israel and Hezbollah would allow a temporary cessation of hostilities, a more permanent solution could be found within Lebanese politics, Middle East expert, professor Amatzia Baram told Radio 103FM on Friday.
While he affirmed that the proposal was “not bad,” Baram added, “From a more analytical perspective, the implication is that within a year or two, Hezbollah will return to what it was, and it will be better, more updated, more technological, with leadership that is less experienced, but a leadership that will receive support from Iran.”
In such a case, a more difficult round of conflict would ensue, Baram stated. “We need to understand what this means – we will go to a much harder war in a few years. This is something very difficult to accept,” he said.
According to Baram, “It is possible to reach a better solution, even without extending the war by much.” For Baram, the solution lies within Lebanon.
“There are almost a quarter of a million Lebanese Shiite refugees who fled to Syria, where they are not wanted. They fled to Iraq, and they are not wanted in Baghdad. They fled to southern Iraq, which is a Shiite area, and there they are accepted,” Baram explained.
Members of Hezbollah attend the funeral of Wissam Tawil, a commander of Hezbollah’s elite Radwan forces who according to Lebanese security sources was killed during an Israeli strike on south Lebanon, in Khirbet Silem, Lebanon, January 9, 2024. (credit: REUTERS/AZIZ TAHER)
“The Kuwaitis are concerned because they are on the Kuwaiti border. Many Shiites are in different parts of Lebanon, but they are not welcomed with open arms almost anywhere,” he stated.
He detailed the effects of such a situation on a terrorist from Hezbollah’s elite Radwan Unit.
“One needs to think like a terrorist of the Radwan force,” who remained in Lebanon while his family fled to southern Iraq, for example.
“They speak two or three times on the phone. Even an Israeli reserve soldier who is now in southern Lebanon and talks to his family feels bad, but you can’t compare the two – because our soldiers have support. The Shiites, have no support,” Baram affirmed.
Lebanese politics
Baram referred to Lebanese politics and its stance on terrorism, explaining: “The Lebanese parliament has 128 seats, with 17 belonging to the Maronite party, which until now has staunchly supported Hezbollah. Now their leader has announced that he no longer supports Hezbollah.”
“More than two years ago, there were elections in Lebanon, after years of tension between the Shiites and the rest of the population, and the result was that Hezbollah and its allies lost the majority they had in parliament, and now the parliament is divided.
“So, when 17 members of parliament shift their support to the opposing side, it’s a very heavy blow,” Baram explained.
According to Baram, this will subsequently enable the election of a new president who “could issue an order that would require Hezbollah to disarm, which is essentially Resolution 1701.”
In such a scenario, Baram explained,” They [Hezbollah] will take the Kalashnikov out of the children’s room and go out into the street. They have rifles, that’s true, but then they will lose the legitimacy of the democratic government.
“If the parliament is against them, they will lose all the public and international legitimacy they have.”
END
ISRAEL/HAMAS/GAZA/HEZBOLLAH
Israel at war: What happened on day 412?
Two Israelis killed by Hezbollah • IDF hits Dahieh 4 times • Hamas accuses IDF of killing dozens of civilians
Sergeant Gur Kehati was killed in battle while fighting in southern Lebanon, the IDF announced on Thursday.
Kehati, 20, from Nir Banim, served in the 13th Battalion in the Golani Brigade.
He was killed during combat in southern Lebanon on Wednesday in the same incident as Israeli researcher Ze’ev ‘Jabo’ Hanoch Erlich.
According to the IDF’s tally, the death of Sergeant Kehati raises the total of soldiers killed on or since October 7 of last year to 803.
Some 377 of this number were killed since the start of the military’s ground operations in the Strip on October 27, 2023.
IDF soldiers dismantling a Hezbollah terror compound beneath a cemetery in southern Lebanon, November 10, 2024. (credit: IDF SPOKESPERSON’S UNIT)
Separately, one civilian in Nahariya was killed on Thursday by a barrage of Hezbollah rockets.
IDF in Daheyieh
Meanwhile, the Israel Air Force (IAF) completed its fourth set of strikes on Hezbollah compound centers in Dahieh, the IDF said on Thursday evening.
This comes after the IDF announced that it had completed its third wave of strikes during the afternoon.
Israel’s military noted that it had hit a weapons depot, terror headquarters, and Hezbollah infrastructure during the fourth wave of strikes in the same area.
It added that the strikes were conducted as part of an ongoing effort to “destroy the weapons production sites and storage facilities that Hezbollah has established over the years in the heart of Beirut.”
During both the third and the fourth rounds of strikes, the IDF said that Hezbollah had deliberately located itself within civilian population centers.
According to the IDF, the Hezbollah terror group deliberately embedded its infrastructure in the civilian area to use the Lebanese civilian population as human shields.
It added that before the strikes, numerous steps were taken to mitigate harm to civilians.
In northern Gaza, Hamas health officials claimed that the IDF bombed at least five crowded homes with many as troops deepened an incursion along the territory’s northern edge.
Rescue operations were underway as many people remained missing or trapped under the rubble, medics said. Hamas media put the number of fatalities at 57, but there was no official figure immediately from the Gaza health ministry, and Hamas rarely admits when its operatives are killed – despite the IDF saying it has killed between 15,000-and 18,000 of them.
The Israeli military made no immediate comment but has repeatedly accused Hamas media of exaggerating the number of casualties.
Earlier on Wednesday, Gaza health officials said Israeli military strikes across the enclave killed at least 48 people, again with n
end
ISRAEL./HEZBOLLAH/
IDF destroys some 300 booby-trapped structures in Jabalya
The identification and destruction of the structures were part of a larger operation of the troops in the area to dismantle explosive devices.
A bag containing explosives that was found near the body of a Hamas terrorist in the Gaza Strip, November 22. 2024.(photo credit: IDF SPOKESPERSON’S UNIT)
Some 300 booby-trapped structures have been detected and demolished by IDF engineering troops in Jabalya in the northern Gaza Strip, the military said on Friday.
The military added that terrorists had positioned explosives in the structures to form an ambush for the troops.
The identification and destruction of the structures were part of a larger operation of the troops in the area to dismantle explosive devices.
In parallel to such operations, the IDF said that troops of the 162nd Division killed numerous terrorists and demolished terror infrastructure via tank fire and using precise strikes. Troops also located many Hamas weapons.
Soldiers also killed terrorists through close-quarters combat and with the aid of aircraft. On the body of one of the terrorists who was killed, troops found a bag with an explosive device and cameras.
Detecting additional terror infrastructure
Further, during operations in the area, troops arrested many terrorists whose interrogations by Unit 504 yielded much information, which aided in detecting terror infrastructure in the area, the military noted.
ISRAEL/LEBANON/FRIDAY MORNING
Aiming to enable return of displaced Israelis, IDF pushes deeper into south Lebanon
Troops are now operating in ‘second line of villages’ to remove Hezbollah threat of invasion and direct missile fire, though rockets will still fly unless a ceasefire is reached
Israeli troops operate in southern Lebanon, November 20, 2024. (Emanuel Fabian/Times of Israel)
SOUTHERN LEBANON — After a night of rain, the army’s routes into southern Lebanon were coated in a very thick layer of mud. A soldier driving a Humvee with a group of journalists this week came prepared with a waterproof suit and goggles.
“Hold on tight,” the driver said, as the army vehicle sped down a sharp slope after crossing the border from Israel into the western sector of southern Lebanon, splashing mud and rainwater into the air.
Earlier this month, the Israel Defense Forces had expanded its ground operations against Hezbollah in southern Lebanon. Troops have pushed into what the military calls the “second line” of villages, after largely completing its operations against the Lebanese terror group in the border-adjacent towns.
Remnants of the IDF’s operations against Hezbollah in the first line of villages were visible during the drive. Numerous houses were in piles of rubble, though others seemed to be standing with minimal damage.
Hezbollah staging grounds — some of them underground, some inside the villages, and some in forested areas — with massive amounts of weapons and equipment have been blown up by the army. The military has destroyed any house that had been used by Hezbollah, sparing those where no weapons were found.
Senior IDF officers have said that since dismantling Hezbollah’s infrastructure in the first line of villages — along with much of the villages themselves — the threat of an invasion by the terror group into northern Israel has been removed.
Israeli troops operate in southern Lebanon, November 20, 2024. (Emanuel Fabian/Times of Israel)
IDF roadblocks, set up in northern Israel to prevent civilians from driving on roads that were exposed to anti-tank missile fire from Lebanon, have all been removed in recent days.
Removing the invasion and anti-tank missile threats could enable the some 60,000 displaced Israelis from the north to return to their homes, after they were evacuated shortly after Hamas’s October 7, 2023, onslaught in the south amid fears Hezbollah would carry out a similar attack and increasing rocket fire by the terror group.
Still, the IDF has not explicitly said that the residents of the north can return yet, and local authorities are in no rush to call on their citizens to come home, with some even calling on the army to further expand its operations in southern Lebanon.
Israeli troops drive through in southern Lebanon, November 20, 2024. (Emanuel Fabian/Times of Israel)
In the second line of villages, the IDF is still finding Hezbollah staging grounds, along with fighting positions from which the terror group has launched anti-tank missiles directly at Israeli border communities and military posts along the border.
“Our task is to make sure that there is no ammunition left and no enemy infrastructure left in the area so that in the end, it allows the political echelon to return the residents to the Galilee and the north,” said Lt. Col. Roi Katz, a battalion commander in the 188th Armored Brigade, during a press tour of a village in the western sector of southern Lebanon this week, around 2.5 miles from the border.
Lt. Col. Roi Katz, a battalion commander in the 188th Armored Brigade speaks to reporters in southern Lebanon, November 20, 2024. (Emanuel Fabian/Times of Israel)
Katz said it would be “impossible” for Hezbollah to use the area where his forces have operated so far as a staging ground “to enter and raid the territory of the State of Israel and attack the citizens of the Galilee with ease.”
At Katz’s makeshift post in the Lebanese village, a truck full of Hezbollah rockets, anti-tank missiles, explosive devices and machine guns was being prepared to be taken back to Israel.
The commander said that some of the weapons were left behind at the Hezbollah position and destroyed, because they were either too heavy to bring back or damaged in a way that would make them unsafe for transport.
The second line of villages is only around 4-5 miles from the Israeli border, meaning that the threat of rocket fire and drones launched by Hezbollah at northern Israel is still present.
A Hezbollah rocket launcher found by troops of 188th Armored Brigade as they operate in southern Lebanon, in a handout image published October 21, 2024. (Israel Defense Forces)
In recent days, the terror group has been raining down around 100 rockets a day on the Galilee, as well as the northern city of Haifa. Hezbollah has also launched several missile attacks on central Israel.
The projectiles are being launched from deeper within southern Lebanon — in areas where IDF ground forces are not operating — and, in some cases, from the northeastern Hezbollah stronghold of Baalbek — where Israeli ground troops will likely never operate.
A photo taken from the southern Lebanese city of Tyre shows rockets fired from Lebanon towards Israel on November 19, 2024. (KAWNAT HAJU / AFP)
Some residents of the Galilee have returned to their homes amid the IDF’s ground operation, but not en masse. Some have explained that staying in other northern towns is no safer these days. In an unfortunate irony, border cities like Nahariya, which were never evacuated, have suffered several deadly rocket attacks.
But the tank battalion commander refused to say if it was safe for the residents of the border towns to return.
“I do not decide whether the residents of the north can return to their homes. I will carry out all the goals that were defined for me because I understand that in the end, it will allow the state to return them,” he told The Times of Israel.
Israeli troops operate in southern Lebanon, November 20, 2024. (Emanuel Fabian/Times of Israel)
Defense and military officials have indicated that the only way to enable the return of the displaced civilians to the north and put an end to the rocket fire is via a ceasefire agreement with Hezbollah, which may be within reach but has thus far proven elusive.
Civilian researcher killed
During the reporters’ visit to southern Lebanon on Wednesday, sounds of gunfire and artillery shelling could be heard from a neighboring village. A short while later, medical dispatches were heard by this writer over the radio, with commanders declaring that four troops had been hurt.
The journalists’ exit from the village was delayed by several hours amid the medical evacuation of those wounded. Only upon reaching the border in the late afternoon and turning phones on again did this writer receive an update on what had transpired.
Israeli researcher Zeev Erlich, 71, who had been brought into southern Lebanon by a senior commander to examine an archaeological site — an ancient fortress — without the proper approvals, was killed in a battle with two Hezbollah operatives, alongside Sgt. Gur Kehati, 20, of the Golani Brigade’s 13th Battalion.
Two other officers, including the chief of staff of the Golani Brigade, Col. Yoav Yarom — who brought Erlich into Lebanon — were wounded.
Israeli researcher Zeev Erlich seen in IDF uniform before entering into southern Lebanon on November 20, 2024, hours before he was killed in a gun battle with Hezbollah operatives. (Chaim Goldberg/Flash90)
IDF Chief of Staff Lt. Gen. Herzi Halevi has appointed a general in reserves to lead a team of experts investigating the circumstances of the incident and Erlich’s entry into Lebanon. In addition, there is a military investigation into the incident led by IDF Northern Command chief Maj. Gen. Ori Gordin, and a separate criminal probe by Military Police.
Shortly before the incident, Katz told reporters that his forces had encountered more Hezbollah operatives in this area of southern Lebanon compared to other villages where his battalion had operated in recent weeks, raising further questions about Erlich’s visit to the frontlines.
“It should be said that we always had the upper hand and all the enemies we encountered were defeated,” he said.
A senior commander in the Palestinian Islamic Jihad terror group was killed in a recent airstrike, the IDF and Shin Bet announce.
According to the military, Khaled Abu Deqa, who commanded Islamic Jihad’s rocket unit, was killed in a strike on Wednesday in the Deir al-Balah area of central Gaza.
The IDF says Abu Deqa operated from within the Israeli-designated humanitarian zone in Deir al-Balah.
Abu Deqa was responsible for rocket fire on Israel amid the October 7 onslaught and during the war, and was involved in numerous other attacks on Israel and IDF troops, the military says.
To mitigate civilian harm in the strike, the IDF says it used a precision munition and aerial surveillance.
END
ISRAEL/HAMAS
IDF says it killed terrorists who led massacres in Mefalsim area on Oct. 7
Five Hamas terrorists who participated in the October 7 onslaught were killed in a recent airstrike in the northern Gaza Strip, the IDF announces.
The military says the strike overnight between Wednesday and Thursday in Beit Lahiya targeted a site where several Hamas operatives were gathered, including members of the terror group’s elite Nukhba Force who were involved in the massacre on October 7, 2023.
Among those killed in the strike are Jihad Mahmoud Yahya Kahlout, a Nukhba Force company commander, and Muhammad Riad Ali Oukal, a Hamas company commander.
The IDF says the pair were commanders in the invasion of southern Israel on October 7 and led the massacre and kidnapping of civilians from the Mefalsim area during the attack.
The military says the two terrorists had also been leading figures in fighting against troops in northern Gaza amid the ongoing operation there.
Additional terrorists killed in the strike are named by the IDF as Anas Jalal Muhammad Abu Shakian, a Hamas commander who also participated in the attack on the Mefalsim area on October 7; Nur al-Din Muhammad Yahya Abu Jadian, a Nukhba member; and Sihab Hassan Ali Matar Adaim, a Hamas operative.
END
ISRAEL/HEZBOLLAH
this is good!
IAF destroys 45 Hezbollah launchers in southern Lebanon over past week
Israel Air Force warplanes struck and destroyed some 45 Hezbollah launchers in southern Lebanon since the beginning of the week, the military said on Friday.
The strike, carried out by the guidance of the Northern Command, targeted the launchers which fired projectiles at Israeli territory along with launchers that were ready for use and positioned towards Israel.
The IDF added that it had struck the launchers from which Hezbollah fired rockets at Nahariya on Thursday and at Haifa early Friday morning.
Hezbollah’s Thursday rocket barrage to Nahariya killed Brian Director, 27, from Ma’alot-Tarshiha.
END
ISRAEL //SYRIA
IRAN
Iran to launch ‘advanced centrifuges’ in response to IAEA censure
end
ISRAEL/WEST BANK
end
UN/HAMAS/HEZBOLLAH
MOST LIKELY ERRANT HEZBOLLAH ROCKETS
(JerusalemPost)
Four Italian soldiers injured in strike at UNIFIL base in Lebanon, gov’t sources say
Italian sources said an investigation into the facts was under way. Foreign Minister Antonio Tajani told Italian media that Hezbollah might be responsible for the attack.
By REUTERSNOVEMBER 22, 2024 15:28Updated: NOVEMBER 22, 2024 16:24
UNIFIL PEACEKEEPERS look out at the Lebanese-Israeli border, from the roof of a watchtower in the town of Marwahin, in southern Lebanon, on Saturday. Never was an organization less interim than UNIFIL, the writer quips.(photo credit: THAIER AL-SUDANI/REUTERS)
Four Italian soldiers were lightly injured after two rockets exploded at a UNIFIL peacekeeping force base in southern Lebanon, the Rome government said on Friday, expressing outrage at the incident.
The UN mission known as UNIFIL is stationed in southern Lebanon to monitor hostilities along the demarcation line with Israel — an area that has seen fierce clashes this month between Israeli troops and Iran-backed Hezbollah terrorists.
Since Israel launched a ground campaign across the border against Hezbollah terrorists at the end of September, UNIFIL soldiers have suffered several attacks.
Investigating the circumstances
“I reiterate once again that such attacks are unacceptable and I renew my call for the parties on the ground to ensure the safety of UNIFIL soldiers at all times and to work together to quickly identify those responsible,” Prime Minister Giorgia Meloni said in a statement.
Italian sources said an investigation into the facts was under way. Foreign Minister Antonio Tajani told Italian media that Hezbollah might be responsible for the attack.
The defence ministry said in a statement that the two 122mm rockets hit a bunker in the base at Chama village and a room near the international military police headquarters, causing damage to the surrounding infrastructure.
UNIFIL vehicles drive in the southern Lebanese town of Qlayaa, near the border with Israel, last Saturday. (credit: Karamallah Daher/Reuters)
Some glass shattered due to the explosion, hitting the four soldiers, the statement said.
“It is intolerable that once again a UNIFIL base has been hit,” Defence Minister Guido Crosetto said.
Italy has long been a major contributor to the 10,000-strong multi-national operation, providing more than 1,000 soldiers.
Israel has also been accused of carrying out some of the attacks, but has denied such incidents were deliberate. It has told UNIFIL to evacuate from southern Lebanon for its own safety – a request that the force has rejected.
END
RUSSIA/UKRAINE
Russia Confirms It Hit Ukraine With New Hypersonic ‘Oreshnik’ Missile, Capable Of Reaching Any European Target
Friday, Nov 22, 2024 – 03:00 PM
A day after Russia’s attack on Ukraine with what were clearly big, very fast and new intermediate-range missiles, which many outlets initially reported to be an ICBM, the Kremlin is touting that it launched a cutting-edge hypersonic missile for which there is no defensive intercept capability.
Russia says that Washington has now understood and been able to grasp Putin’s warnings and red lines more clearly following the missile strike a Ukrainian defense industry facility in Dnepropetrovsk Thursday morning. The new hypersonic weapon, dubbed ‘Oreshnik’ is capable of delivering a nuclear warhead.
“We have no doubt that the current administration in Washington has had the opportunity to familiarize itself with this announcement and understand it,” Kremlin spokesman Dmitry Peskov told reporters. Putin had said the West’s escalation, seen this week in authorizing Ukraine’s long-range strikes on Russia with US/UK-made weapons, makes Ukraine a “global” conflict.
He strongly hinted that this global aspect to the war means attacks on Western targets can’t be ruled out. The same day, the foreign ministry said a US missile base in Poland is a prime target.
Peskov further called Putin’s message following the hypersonic attack “comprehensive, clear and logical.” The Russian leader has authorized the new missile to enter mass production.
“The key message is that the reckless decisions and actions of Western countries — which produce missiles, supply them to Ukraine and subsequently take part in carrying out strikes on Russian territory — cannot go unanswered,” Peskov continued.
On Friday Russian state media sources have begun publishing specs for the Oreshnik missile, claiming it flies at Mach 10, and can reach 5,500km in distance, or 3,400+ miles (as a medium-range weapon).
Russia’s missile command has also informed Putin that the projectile is capable of reaching any European target…
“The unique feature of the Oreshnik missile system is that, firstly, it is a medium-range missile – it flies to a distance of 1,000 km to 5,500 km – and secondly, it is hypersonic, flying at a speed of Mach 10,” a retired Russian Army colonel and military analyst, identified as Viktor Litovkin, told Sputnik.
“The West does not have missiles that fly at such a speed or hypersonic missiles at all,” he continued. “Although the US has repeatedly boasted that it has such missiles, it has never demonstrated a missile flight. They appeared to show missiles that flew at a supersonic speed of 5.5 times the speed of sound or Mach 5.5. However, hypersonic speed begins at Mach 6-7.”
Independent geopolitical site Moon of Alabama agrees, and calls it a huge game-changer [emphasis ZH]:
Launched from Russia the missile can reach any target in Europe in less than 20 minutes. On reentry into the atmosphere the warheads of the missile reach hypersonic speeds of 3-4 kilometer per second. There is no air defense system in the world that could stop them.
The surprising and successful demonstration of such an enormous capability is a wake-up call for European strategists.
Lulled in by neoconservative talk of western supremacy and presumed Russian inabilities the Europeans were eager to connect their fate to a proxy war against Russia. Having been defeated in the fight for the commodities of the Donbas region they have pushed for extending the reach of their weapons into Russia.
The results are now in. Europe is defenseless against new Russian weapons which can reach every political and industrial center of Europe with devastating power and with just minutes of notice.
Below is a review and paraphrasing of Putin’s main points from his Thursday address and warning to the West via RT.
* * *
Deployment of the new Hypersonic Missile ‘Oreshnik’
Putin confirmed that Russia has used its latest hypersonic ballistic missile system, nicknamed ‘Oreshnik’ (Hazel in English), during a strike on a Ukrainian defense industry facility in Dnepropetrovsk on Thursday morning. The missile is part of Moscow’s new generation of medium-range weapons and reportedly travels at speeds of up to Mach 10 (2.5-3 kilometers per second).
Putin emphasized that no existing air or missile defense systems, including those deployed by the US in Europe, are capable of intercepting the Oreshnik. “There are no means of countering such weapons today,” he said, adding that the strike successfully hit one of Ukraine’s largest Soviet-era industrial complexes producing rocket technology.
The Americans are making the Ukraine conflict global
Putin accused the US and NATO of deliberately escalating the crisis by providing Kiev with long-range, high-precision weapons capable of striking Russian territory. This week, Ukraine used American-made ATACMS missiles and British Storm Shadow systems to strike targets in Russia’s Bryansk and Kursk Regions.
Putin said these attacks demonstrate the West’s intent to transform the Ukraine conflict into a global war. He stressed that these weapons could not be used without the direct involvement of US and NATO military specialists. “This regional conflict provoked by the West has now acquired global elements,” the president declared.
US defenses helpless against Russian hypersonic weapons
Putin highlighted the strategic advantage of Moscow’s new missile technology, stating that Western defense systems, including those at US bases in Europe, are powerless to intercept them. He framed the deployment of the Oreshnik system as a response to NATO’s increasingly aggressive actions, including Washington’s withdrawal from the Intermediate-Range Nuclear Forces (INF) Treaty in 2019. “Missiles like Oreshnik are our answer to NATO’s plans to deploy medium- and shorter-range missiles in Europe and the Asia-Pacific,” he said.
Americans destroyed the system of international security
The Russian president placed blame squarely on Washington for dismantling global arms control agreements and eroding international security.
“It was not Russia but the United States that destroyed the system of international security,” Putin said, referring to the collapse of the INF Treaty and other agreements. He accused the US of clinging to its “hegemony” at the expense of global stability, stating that the Americans are “pushing the whole world toward a global conflict.”
Russia’s position on the deployment of missiles
Putin announced that while Russia has refrained from deploying medium- and shorter-range missiles globally, it would reassess this policy in response to US actions. He warned that future targets for Russia’s advanced systems would be chosen based on perceived threats to national security. As a “humanitarian” gesture, he stated that civilians in targeted areas would be warned in advance to evacuate.
A call for Peace, and a warning to the West
Despite his tough words, Putin reiterated that Russia remains open to talks, but warned of decisive retaliation against escalating aggression. “We have always preferred, and are still ready, to resolve all disputes through peaceful means,” the president said.
However, he cautioned Western leaders, particularly in Washington, to take Russia’s warnings seriously. “There will always be an answer,” to attacks on Russia, he concluded.
zh: …hopefully Trump and Putin can broker peace before it’s too late.
END
RUSSIA/UKRAINE/EUROPE
special thanks to Robert H for sending this to us:
NATO Cannot Intercept Russia’s New Nuclear Missiles
Robert’s comment:
“As now more widely being reported, Russia struck a Ukrainian military-industrial site in Dnepropetrovsk using a new, non-nuclear hypersonic missile dubbed ‘Oresshnik’ (Hazel). This is a new variant of the RS-26 which uses kinetic force to further eliminate a target. Hypersonic missiles of this kind cannot be stopped by any existing Western weapons system currently in place and deployment. Why poke an adversary when you are not in the same league? Because if escalation continues such weapon systems were also designed to carry multiple nuclear warheads over shorter distances. Think Europe! The whole strategy of Russia was and is to have an umbrella effect of missiles that overlap one another in strikes. This allows a creeping destruction effect that is layered. It is the same thing being employed on conflict lines where they can and do soften up territory in advance of movements at will. Even the newest drones are fiber optic controlled offering zero electronic interference. Thus allowing and ensuring that each drone reaches the target without interference. The reason Russia is actively replacing its S300 systems with the S500 is to ensure it has a long lead over what the West or others may develop. And the S500 has the ability to be a strike weapon within 600 kilometers. It likely already is deployed in Belarus pointed at Poland. The missile you saw today is what along with other systems will be used to strike Poland if needed. If Poland chooses it should be smart and take a piece of Western Ukrainian that will next year be forth coming. As for BlackRock etc. watch for panic by the end of spring as their dreams of monetary glory in Ukraine are shattered.”
By the looks of it, Putin whipped out a new Russian ICBM that NATO defense systems cannot intercept, but did NOT attach nuclear payloads to them.
Essentially, Putin just showed the West that he has the ability to destroy them if they keep provoking him.
It was a warning. Putin just exercised extreme restraint, while also showing Ukraine/NATO that they are outgunned.
This should be front page news on every outlet, but for some reason, it’s not. Perhaps it’s because this situation does not fit their narrative that Putin is this Hitler-esque loose-cannon who wants to conquer the world.
Putin is showing restraint. He wants diplomacy, not nuclear war. But the West continue to poke the bear.
We cannot wait until January 20th. We need Trump in office right now.
END
RUSSIA/UKRAINE/POLAND/USA
Russia Lists US Missile Defense Base In Poland As ‘Priority Strike Target’
Friday, Nov 22, 2024 – 02:45 AM
On Thursday Moscow issued a fresh warning to the US and West, following Washington and London giving the greenlight for Ukraine’s use of long-range missiles against Russian territory, which at this point has already happened in at least two instances (separate cross-border attacks using the US ATACMS and UK Storm Shadows).
Russia has said a newly opened US missile defense base in Poland is now on a list of potential priority strike targets in the event of a bigger escalation. Foreign Ministry spokeswoman Maria Zakharova warned that the US-NATO anti-missile base in the Polish village of Redzikowo is a threat to Russia for its “obvious potential” to inflict harm on Moscow’s deterrent forces.
She said that the opening of the base marks “yet another provocative step in a series of deeply destabilizing actions by the Americans and their allies in NATO in the strategic sphere.”
She further described it as part of the “decades-long destructive policy of bringing NATO military infrastructure closer to Russia’s borders” which can lead to the “undermining of strategic stability” – which can potentially bring to the forefront an increase in “the overall level of nuclear danger.”
Given “the nature and level of threats arising from this type of Western military facilities,” she continued, the base has been added to the Russian military’s list of “priority targets for potential destruction.”
As we previewed days ago upon the base’s formal inauguration, the US launchers hosted there that fire the Aegis interceptors can also fire offensive Tomahawk missiles. Previously, the US fielded a variant of the Tomahawk that was capable of delivering a nuclear warhead.
With the NATO and US military build-up in Eastern Europe, Moscow has long vowed that it would respond by “adopting appropriate measures to ensure parity.”
While the Aegis system has created significant friction between Russia and NATO, Warsaw wants to further expand the missile base. Polish Defense Minister Wladyslaw Kosiniak-Kamysz said on Monday the scope of the shield needed to be expanded.
Some Polish top officials have recently argued that the country’s military should be actively intercepting Russian missiles threatening Ukrainian territory, especially ones that fly close to Poland’s border in the region of Western Ukraine. Warsaw has throughout the conflict played host to a build-up of Western weapons along NATO’s ‘eastern flank’.14
More
end
RUSSIA.UKRAINE/USA
Russian missile reached speed of more than 8,000 miles per hour, Ukraine says | Reuters
Oreshnik is one badass missile “It may reach the UK in only 19 minutes; Brussels in 14; Berlin in 11; and Warsaw in 8 minutes. And, of course, traveling at over Mach 10, it simply cannot be intercepted by anything in the collective West arsenal. That includes the US.” This is a fact!
Imagine that. While the West wastes money on endless war Russians develop missiles. Why poke such a country? They have no interest in Europe as Russia has turned EASTWARD likely for a generation. This makes an attempt by an American Investor to buy NORDSTREAM for pennies more than interesting.
It is time to stop needless slaughter and waste of country funds to rebuild the West whether it is Europe or America.
So it is no surprise a British General visited Zelensky today. Perhaps to tell him no more missiles can be used. After all Britain is now a combatant in use of their missiles as are the French and Americans.
NATO has a meeting on the 26th in Brussels which Zelensky will attend to determine a response in light of clarity of the Russian response will be.
If there is further escalation no doubt we will see an eroding EURO quickly. Capital flow is outbound not inbound as it is.
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUE
special thanks to Robert H for sending this to us:
PNW Conservative on X: “Call me a conspiracy theorist…. But…. 98% of people in King County, WA (Seattle) took at least one COVID shot, and the data is not looking good. A peer-reviewed study has found a jaw-dropping 1,236% surge in excess heart attack deaths among King County’s 2.2 million” / X https://x.com/UnderWashington/status/1859797822989795350
GLOBAL ISSUES
MARK CRISPIN MILLER
DR PAUL ALEXANDER
2nd Smartest Guy in the World reports that our review on the harms & deaths of the Malone Bourla et al. mRNA gene vaccine was FINALLY published after being denied! 2nd is like a family I never knew I
had, resilient, strong, brilliant & thank you for this showcase, I am one of the authors of this study! a strong team! McCullough as lead! Key finding- mRNA gene vaccine is deadly! DON’T touch!
As Europe’s benchmark natural gas prices have hit a one-year high, their premium over with the U.S. benchmark gas price has widened well above 2024 averages, signaling that U.S. LNG exporters will likely further boost deliveries to Europe to take advantage of the widening spread.
Currently, the price of the U.S. benchmark, Henry Hub, is about 80% lower compared to the Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, according to data cited by Reuters columnist Gavin Maguire.
The wide premium of European prices against U.S. prices is set to incentivize LNG exporters to ship more cargoes to Europe this winter season.
Last week, the European benchmark price surged to the highest since November 2023 as Austria’s OMV warned of a potential halt to Russian pipeline gas supply and as colder weather drives stronger demand for heating and electricity.
Russia’s Gazprom did indeed cut off supply to OMV, but Russian gas flows to Austria haven’t fallen off a cliff, yet.
The European natural gas market has been on edge for weeks with the start of the winter heating season, a massive lull in wind speeds in northwestern Europe, the OMV-Gazprom dispute, and the end of the gas transit deal via Ukraine which expires on December 31, 2024. Ukraine has said that it would not pursue talks about renewing the agreement with Russia.
As European prices rise, the volume of natural gas flowing to the seven U.S. LNG export plants was on track to hit a 10-month high earlier this week.
The higher European prices are also diverting LNG cargoes initially bound for Asia, as Europe currently commands a premium in prices.
In the past week alone, at least 11 cargoes diverted from either Asia or Egypt to Europe, Argus reported earlier this week, citing vessel-tracking data from Vortexa.
end
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA/QUEBEC
Over 85,000 Quebec students strike for Gaza, call for intifada and final solution
The protest reportedly took up all 12 floors of the main Concordia building, and that “Free Gaza” was spray painted on lockers.
By MATHILDA HELLERNOVEMBER 22, 2024 13:08Updated: NOVEMBER 22, 2024 13:11
Pro-Palestine protester in Montreal performs Hitler salute(photo credit: SCREENSHOT/X)
Quebec was flooded with pro-Palestine protests on Thursday as 85,000 students across 13 university campuses went on strike for two days to demand their universities divest in Israel.
According to one of the organizing groups – Coalition de résistance pour l’unité étudiante syndicale (CRUES) – the strikes were designed to coincide with the opening of the NATO conference in Montreal. CRUES accused Nato of refusing aid to Palestinians, and of approving of “the ongoing genocide.”
The main protest took place in Concordia University in Montreal, but was joined by students from McGill and Dawson college. The latter cancelled all classes on Thursday out of “concerns about the safety of students and employees on the day of the boycott,” Canadian news reported.
Of the 85,000, 11,000 were Concordia students, who were coordinated by 11 student groups and one faculty group, according to the university’s The Link newspaper.
According to CTV News, a protest leader led a chant saying “listen to the ICC,” which comes just after the court announced arrest warrants against Benjamin Netanyahu and Yoav Gallant.
One student told CTV News that the protest took up all 12 floors of the main Concordia building, and that “Free Gaza” was spray painted on lockers.
The protesters also distributed flyers, and overturned garbage cans.
Other videos show the protesters chanting “Long live the Intifada” and trying to break down doors.
At 2:48pm, the university issued an emergency alert telling students and staff on campus to not leave their location unless their safety required evacuation, according to local news.
Palestinian Youth Movement’s Montreal bracket wrote on Instagram “Glory to our people resisting the zionist colonial project and genocide. We will not stop until Palestine is fully liberated, from the Jordan river, to the Mediterranean Sea.”
On the street outside, hundreds of pro-Palestine protesters sang chants. A masked pro-Palestinian protesters was filmed shouting “The final solution is coming your way, the final solution. You know what the final solution is?” at a dozen pro-Israel
The small group of pro-Israel protesters chanted “Bring them home,” according to the Gazette.
Ahead of the strikes, Concordia sent an email to staff and students calling on them to “denounce violence in all its forms.”
“Everyone has a responsibility to help ensure that protest activities remain peaceful and respectful and do not cross the line into criminal acts, such as vandalism and assault,” the email added.
Hillel Montreal condemned the “internationally coordinated “student intifada.”
“While promoted as a “strike,” this was simply an aggressive campaign of intimidation, hate, and harassment, as seen in this video.”
Hillel added that the protesters were organized “by extremists seeking to hijack higher education.”
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0406 DOWN 67
USA/ YEN 154.51 UP 0.355 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 1.2509 DOWN .0074
USA/CAN DOLLAR: 1.3960 DOWN 0.0008 (CDN DOLLAR UP 25 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 103.21 PTS OR 3.06%
Hang Seng CLOSED DOWN 371.14 OR 1.89%
AUSTRALIA CLOSED UP .77%
// EUROPEAN BOURSE: ALL MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 371.14 PTS OR 1.89%
/SHANGHAI CLOSED DOWN 103.21 PTS OR 3.06%
AUSTRALIA BOURSE CLOSED UP .77%
(Nikkei (Japan) CLOSED UP 257.68 PTS OR 0.68%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2704.60
silver:$31.37
USA dollar index early FRIDAY morning: 107.52 UP 59 BASIS POINTS FROM THURSDAY’s CLOSE.
…despite dollar strength, gold and crypto soared as the yield curve
MORNING TRADING
II USA DATA
UMich Inflation Expectations Jump To 16-Year-High, Democrats’ Confidence Crushed
Friday, Nov 22, 2024 – 10:13 AM
Longer-term inflation jumped to their highest since June 2008, according to the latest UMich Sentiment survey, while short-term inflation expectations dropped to four year lows…
Source: Bloomberg
Interestingly, on the heels of a positive PMI surprise – based on Trump – UMich sentiment declined in November (from preliminary to final) but was higher overall (even though current conditions dipped)…
Source: Bloomberg
Post-election interviews were 1.3 points below the pre-election reading, moderating the improvement seen earlier in the month.
Overall, the stability of national sentiment this month obscures discordant partisan patterns.
In a mirror image of November 2020, the expectations index surged for Republicans and fell for Democrats this month, a reflection of the two groups’ incongruous views of how Trump’s policies will influence the economy.
But while the Dems are sad, overall Americans are positive on Trump’s policies…
Wait until December’s data bakes all the pro-Trump panic in.
END
Trump ‘Hope’ Sends US Services PMI Soaring To 32-Month High
Friday, Nov 22, 2024 – 09:52 AM
Following this morning’s shitshow in Europe, US preliminary PMIs for November were expected to inch higher (supported by the surge in positive ‘hard data’ surprises recently) and they did on a MoM basis.
“The business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high. The prospect of lower interest rates and a more probusiness approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November.
“The rise in the headline flash PMI indicates that economic growth is accelerating in the fourth quarter, while at the same time inflationary pressures are cooling. The survey’s price gauge covering goods and services signalled only a marginal increase in prices in November, pointing to consumer inflation running well below the Fed’s 2% target.
“A concern is that growth remains heavily reliant on the services economy, with manufacturing production declining at an increased rate. However, the promise of greater protectionism and tariffs has helped lift confidence in the US good producing sector, which is already feeding through to higher factory employment.
“Factories are meanwhile stepping up their purchases of imported inputs as they seek to front-run tariffs, putting pressure on supply chains to a degree not seen for over two years. Any further stretching of these supply lines could see prices move higher as demand outstrips supply.”
Not exactly rate-cutting weather out there, eh?!
Optimism soaring on Trump… but prices also about to soar ‘on Trump’.
END
III USA ECONOMIC NEWS
Trump Nominates Pam Bondi For Attorney General After Gaetz Withdraws From Consideration
by Tyler Durden
Thursday, Nov 21, 2024 – 06:50 PM
Update: Donald Trump said he is nominating former Florida Attorney General Pam Bondi and his personal trial lawyer, to run the US Department of Justice, after his first pick, former Representative Matt Gaetz, withdrew his name from consideration.
“Pam will refocus the DOJ to its intended purpose of fighting Crime, and Making America Safe Again. I have known Pam for many years — She is smart and tough, and is an AMERICA FIRST Fighter, who will do a terrific job as Attorney General!,” Trump said in a statement on his Truth Social platform on Thursday evening.
Bondi, age 59, is an American attorney, lobbyist, and politician. A Republican, she served as the 37th Florida attorney general from 2011 to 2019. She is the first woman elected to the office. In 2020, Bondi was one of longtime ally President Donald Trump’s defense lawyers during his first impeachment trial. By 2024 she led the legal arm of the Trump-aligned America First Policy Institute.
Trump initially picked Gaetz, as his AG but the former US representative from Florida said he would no longer seek the post after intense scrutiny over a House Ethics Committee investigation into allegations that he engaged in sexual misconduct, including having sex with a minor.
“It is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition,” Gaetz said Thursday.
Trump has vowed to overhaul the Justice Department, an agency he has criticized over two federal indictments secured by Special Counsel Jack Smith over the president-elect allegedly trying to overturn the 2020 election and illegally retaining classified documents.
If confirmed, Bondi would be heading a department at the center of many of Trump’s key policy initiatives, including plans to ramp up immigration enforcement and border security.
Former Rep. Matt Gaetz (R-FL) has withdrawn his name for consideration for attorney general amid growing controversy over sexual misconduct allegations.
“While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition,” Gaetz wrote on X.
“There is no time to waste on a needlessly protracted Washington scuffle, thus I’ll be withdrawing my name from consideration to serve as Attorney General. Trump’s DOJ must be in place and ready on Day 1.”
During a discussion with president-elect Trump’s former Office of Management and Budget Director, Russ Vought, Tucker Carlson posited that the outgoing administration is attempting to saddle Trump with a global conflict.
“If you doubt how serious the opposition is to the public, not just to Trump, but to the majority of the country that voted for him, They’re trying to leave him with World War III on the way out,” Carlson urged.
Russia is furious about the Biden administration lifting restrictions on use of US developed long range missiles, and Putin has repeatedly stated that such a move would mean NATO countries are at war with Russia.
Carlson continued, “I can’t imagine a more desperate or evil thing for Tony Blinken, who I think is desperate and evil, in my view, to do. Leave him with a war?”
“A lame-duck president trying to start a war with the world’s largest nuclear power, Russia. What do you make of that?” Carlson asked Vought.
Vought responded, “It’s incredibly insidious, and then add to the fact that he can’t put two sentences together and he is largely not in control of his own government,” referring to Joe Biden.
“You have almost an unelected president with individuals behind the scenes doing this,” he continued, further asserting “It doesn’t surprise me, though. I mean, these are the same people that have weaponized the Department of Justice and the lawfare.”
“I have a colleague, Jeff Clark, who they’re trying to disbar because of the care he showed on behalf of the president in dealing with voter integrity and election fraud after 2020,” Vought further noted.
“The system has thrown everything at the warriors who are on the field. You’re seeing that with Tulsi, you’re seeing that with Matt Gaetz,” he pointed out, adding “Why is all of this stuff being thrown at him slanderously?”
Carlson also discussed the spiralling escalation in Ukraine with journalist Glenn Greenwald, noting that the decision to escalate the conflict with ATACMS missiles is “the most evil thing I’ve seen in my lifetime.”
Greenwald also pointed out that Ukraine doesn’t have the expertise to use the guidance system for the weapons and therefore NATO countries and the US would be actively involved in launching them at targets inside Russia.
As we highlighted yesterday, NATO member state Sweden is sending out pamphlets advising citizens how they should prepare for nuclear war in the wake of the escalation.
U.S. regulators want a federal judge to break up Google, forcing the sale of its Chrome browser as part of monopoly punishment. https://t.co/pN0FxMGeE1
Google (Alphabet) tumbled as much as 6.7%.
@LizThomasStrat: Initial jobless claims came in at 213k, below the est of 220k and where we were at this time last year. Could be some seasonal quirkiness, but nevertheless data like this gives Fed hawks ammo for a pause at the December FOMC meeting. https://t.co/zYdbXMinNY
Ukraine claims Russia launched intercontinental ballistic missile at it for the first time The claim was disputed by a Western official, who said it was a ballistic missile but not an ICBM that was fired at the eastern city of Dnipro early Thursday. (intermediate-range ballistic missile (IRBM) attack) https://www.nbcnews.com/news/world/russia-launched-icbm-ukraine-war-putin-rcna181131
@SkyNews: The Russian Ambassador to the UK has told Sky News ‘the UK is now directly involved in this war.’ Andrei Kelin told Sky’s @MarkAustinTV that the war ‘could not be happening’ without NATO and British involvement. https://trib.al/8JuIVOn
@CGasparino: Top hedge fund managers are growing wary about the debt situation — $35 trillion and counting but also how they believe @SecYellen and the @JoeBiden were manipulating interest rates in the run up to Nov 5 by selling so much short dated debt so as not to cause a spike in longer dated yields, which would upend stocks and could cause a significant economic slowdown. Now whoever @realDonaldTrump nominates for @USTreasury will be stuck with a mess of a balance sheet, a mismatch to unwind that will put pressure on bonds and markets.
Thursday’s King Report: Will the usual suspects save Nvidia and their massive positions in it? This is a key dynamic today…
Nvidia opened higher (149.25) and ran to a high of 152.89 (+7 pts or +4.8%) at 9:32 ET. Sellers then slammed the traders that bought. NVDA fell to a low of 140.70 (-5.19 or -3.6%) at 10:30 ET. NVDA turned positive after 13:35 ET and stayed that way for the remainer of the session (146.67 close).
Despite Google’s tumble, Nvidia’s early decline, and Russia’s missile attack on Ukraine, the usual suspects poured into stocks on Thursday morning. Bonds were down modestly at the time, but sank later.
The DJIA and DJTA rallied sharply during early NYSE trading: Salesforce +4.16%, IBM +2.29%, GS +2.12%, and Home Depot +1.85% near 11:05 ET. Avis was +3.86% and Old Dominion +2.1% then.
There appeared to be a rotation out of Fangs & into DJ stocks, particularly economically sensitive issues.
The Changing Domestic and World Orders Under the Trump Administration – Ray Dailo The picture that I see is one of 1) a giant renovation of government and the domestic order aimed at making it run more efficiently, which will include an internal political war to convert that vision into reality, and 2) an “America first” foreign policy and preparation for external war with China, which is perceived to be America’s greatest threat. The most recent analogous period is the 1930s, when such an approach emerged in several countries… It is now clear that Donald Trump and those he is choosing will reform government and the country like a corporate raider engaging in a hostile takeover of an inefficient company, making huge reforms to it by changing the people, slashing costs, and infusing it with new technologies… https://www.linkedin.com/pulse/whats-coming-changing-domestic-world-orders-under-trump-ray-dalio-v4yge/?trackingId=cHkI4zSSQs25Nr95MgdTYQ%3D%3D
ESZs, due to Nvidia, declined sharply during Asian and early European trading. They hit a daily low of 5905.24 at 4:26 ET. A dynamic rally then commenced that took ESZs to a daily high of 5971.50 at 9:24 ET. Aggressive selling then pushed ESZs down to 5907.25 at 10:28 ET. Someone then juiced ESZs to 5965.50 at 11:32 ET. ESZs then rolled over, which strongly implies that the ESZs juicer or juicers were Old World traders that manipulated ESZs and select stocks higher for the 11:30 ET European close.
After a retreat to 5944.75 at 12:04 ET, a robust Noon Balloon took ESZs to 5981.00 at 13:11 ET. ESZs then traded sideways until the last-hour rally pushed ESZs to a daily high of 5985.00 at 15:12 ET. ESZs then rolled over and slid to 5969.75 at the NYSE close.
Positive aspects of previous session The DJIA soared; the DJTA rallied sharply; Fangs and Nasdaq went positive in the afternoon.
Negative aspects of previous session The Ukraine-Russia War escalated, again. Like on Wednesday, Fangs declined sharply early, an afternoon rally appeared. USZs declined as much as 18/32 and closed -14/32. Gold rallied sharply; Bitcoin hit $99k. The DJTA hit is high at 11:34 ET and then trade sideways with a downward bias.
Ambiguous aspects of previous session How can the Fed ease with stocks and golds near all-time highs plus Fangs & Bitcoin are bubbling?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5933.1- Previous session S&P 500 Index High/Low: 5963.32; 5887.26
GOP Sen. @HawleyMO: Secretary Mayorkas and Director Wray’s refusal to testify publicly today in the Senate is an outrage – and a brazen attempt to avoid oversight for the political abuses at FEMA, the FBI and more. I look forward to Director Wray’s resignation.
@ColonelMark4: Mayorkas has designed an ICE portal APP effective 1 December offered to illegals to get around ICE background checks and grant them permanent asylum status without any court date. They are literally burning it down on the way out!
Biden admin quietly loosening immigration policies before Trump takes office — including letting migrants skip ICE check-ins in NYChttps://trib.al/shIQZY5
Matt Gaetz withdrew from consideration to be Attorney General. The NY Times reports that four GOP senators were adamantly against Gaetz: DJT hating RINOs Murkowski, Collins, and McConnell; plus, Senator-elect John Curits (Utah), an ex-Democrat who did NOT support DJT in 2024 primaries). Gaetz said he withdrew because he had become a huge distraction for DJT’s agenda. https://x.com/WendellHusebo/status/1859681143878189515/photo/1
@realDonaldTrump: I am proud to announce former Attorney General of the Great State of Florida, Pam Bondi, as our next Attorney General of the United States. Pam was a prosecutor for nearly 20 years, where she was very tough on Violent Criminals, and made the streets safe for Florida Families. Then, as Florida’s first female Attorney General, she worked to stop the trafficking of deadly drugs, and reduce the tragedy of Fentanyl Overdose Deaths… (Will Dems & RINOs inveigh against a female AG!)
@CollinRugg: MSNBC guest melts down over Trump picking Pam Bondi as the next Attorney General, says they should “fear” her because she’s competent. Liberal political scientist Jason Johnson said Bondi is an “effective pick” who is “worse” than Matt Gaetz. “We should all fear [her] because she’s competent. We may not agree with her ideologically, but she actually knows how to do this job.” “Pam Bondi knows what she’s doing. She knows what she’s doing about immigration.” “She is a dangerous and effectivepick, and that’s frankly worse than what we would have got with Matt Gaetz.” https://x.com/CollinRugg/status/1859747796661739802
Today – It appears that the rotation into US industrial issues while selling Fangs and Techs had European participation. After the 11:30 ET, the DJTA went sideways with a downward bias while Fangs and techs rallied sharply after 10:41 ET and turned positive later. The DJIA didn’t peak until midday.
The usual suspects will play for the Friday Rally.
Stocks, gold, and Bitcoin and bubbling up; it’s foolhardy to try to pick a top. The Reagan Rally of 1980 continued into Q1 of 1981, even though Volcker had resumed tightening monetary policy.
ESZs are -3.75; NQZs are -40.00; and USZs are +8/32 at 20:12 ET.
Expected economic data and Fed speakers: Nov S&P Global US Mfg PMI 48.9, Services 55, Composite 54.3; Nov UM Sentiment 73.9, 1-year Inflation 2.7%, 5-50-year Inflation 3.1%
S&P Index 50-day MA: 5803; 100-day MA: 5656; 150-day MA: 5534; 200-day MA: 5430 DJIA 50-day MA: 42,629; 100-day MA: 41,482; 150-day MA: 40,630; 200-day MA: 40,177 (Green is positive slope; Red is negative slope)
S&P 500 Index (5948.71 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 5557.29 triggers a sell signal Daily: Trender is positive; MACD is negative – a close below 5850.21 triggers a sell signal Hourly: Trender and MACD are positive – a close below 5889.90 triggers a buy signal
@ggreenwald: The Biden DOJ — not the Trump DOJ: the Biden DOJ — intensively investigated possible crimes by Matt Gaetz. After 18 months of leaking to destroy his reputation in the press, the Biden DOJ decided they couldn’t even charge him, and closed the case. Somehow this doesn’t matter:
@EndWokeness: Manhattan DA Alvin Bragg’s assistant robbed, attacked by an illegal immigrant with 5 arrests since 2023. He’s a Venezuelan TDA gang member. Oh, and taxpayers paid for his hotel.
Obama’s Ukraine Cover Up – Part 3 of our series on how Barack Obama undermined U.S. democracy In November 2013, Ukraine’s president Yanukovych turned down a U.S.-backed trade deal with the European Union in favor of an emergency bailout from Russia… Nuland and her state department colleagues found deeply upsetting… Biden was effectively appointed as the Obama administration’s point man on Ukraine in February 2014. On Feb. 22, 2014, just as Nuland had planned, Yanukovych was removed as president of Ukraine and, three days later, Yatsenyuk, the candidate favored by Nuland, was installed as prime minister. In other words, the U.S. government had effectively enabled a coup that ousted a democratically elected leader and replaced him with their own candidate… One of the members of Yanukovych’s government who lost his position in government as a result of the coup was Mykola Zlochevsky, the Oligarch owner of Burisma Energy… The level of involvement from Obama officials would only accelerate in 2015 after the Biden’s were further pulled into the legal entanglements of Burisma, which was under ongoing investigations into the theft of Ukraine’s natural gas assets… Once Biden had finally sorted out the prosecutor situation in Ukraine, he needed to make sure his actions stayed hidden from public inquiry. All the more so because any serious investigation might ultimately shift towards Obama… Obama and Biden couldn’t afford to have Trump poking around Ukraine as the new president… It also explains the ferocious response from the DNC when Trump started to ask questions regarding Biden’s actions in Ukraine. If Trump was allowed to continue, he would have discovered all of the Biden misdeeds, Obama’s knowledge of everything, and perhaps other misdeeds from the others among the larger DC Establishment as well… https://truthovernews.org/p/obamas-ukraine-cover-up
Turley: Report: The Officer Who Killed Ashli Babbitt Had a Long History of Disciplinary and Training Problems – Liberal politicians and pundits often refer to multiple deaths from the Jan. 6th riot. In reality, only one person died that day, and that was Babbitt, who was shot while trying to climb through a window. However, the media lionized Byrd and portrayed the killing of the unarmed Babbitt as clearly justified. That is in sharp contrast to the approach that the media has taken in other shootings by law enforcement… Of all of the lines from Byrd, this one stands out: “I could not fully see her hands or what was in the backpack or what the intentions are.” So, Byrd admitted he did not see a weapon or an immediate threat from Babbitt beyond her trying to enter through the window. Nevertheless, Byrd boasted, “I know that day I saved countless lives.” He ignored that Babbitt was the one person killed during the riot… No other officers facing similar threats shot anyone in any other part of the Capitol, even those who were attacked by rioters armed with clubs or other objects… The new report confirms prior accounts that Byrd had prior disciplinary and training issues. According to Just the News, they included “a failed shotgun qualification test, a failed FBI background check for a weapon’s purchase, a 33-day suspension for a lost weapon and referral to Maryland state prosecutors for firing his gun at a stolen car fleeing his neighborhood.”… The concern is that the political environment — and powerful interests in Congress — demanded that Byrd be cleared. As discussed in my new book, “The Indispensable Right,” the Justice Department had publicly pledged to bring “shock and awe” in prosecuting anyone associated with the riot. Finding that the only person killed that day was an unjustified shooting would not exactly fit with the narrative…https://jonathanturley.org/2024/11/21/report-the-officer-who-killed-ashli-babbitt-had-a-long-history-of-disciplinary-and-training-problems/
SWAMP STORIES FOR YOU TONIGHT
NY ‘Hush Money’ Judge Grants Trump Request To File For Dismissal, Postpones Sentencing Indefinitely
Friday, Nov 22, 2024 – 11:01 AM
Liberals will be tearing what’s left of their hair out even more this morning as Judge Juan Merchan just granted President-elect Trump’s request to file a motion to dismiss the charges in the Stormy Daniels’ ‘hush money’ case and removed the sentencing date for the president-elect from the schedule.
Manhattan District Attorney Alvin Bragg (D) is opposing that request. Instead, Bragg floated that Merchan could freeze the proceedings while Trump is in office, meaning the conviction would remain on the books but sentencing wouldn’t occur until 2029, at the earliest.
Merchan ordered Trump to file his formal motion asking for dismissal by Dec. 2 and Bragg to respond by Dec. 9.
Merchan also confirmed the stay in sentencing for Trump, which was requested by both Trump and Bragg attorneys.
The sentencing was scheduled for Nov. 26, but on Friday, Merchan said that date “is adjourned.”
The judge will then decide how to proceed.
In a letter to Merchan on Wednesday, Trump defense attorney and now-nominee for Deputy Attorney General Todd Blanche demanded the case against President-elect Donald Trump be tossed.
“On November 5, 2024, the Nation’s People issued a mandate that supersedes the political motivations of DANY’s ‘People,’” Blanche wrote.
“This case must be immediately dismissed.”
Blanche said that “immediate dismissal of this case is mandated by the federal Constitution, the Presidential Transition Act of 1963, and the interests of justice, in order to facilitate the orderly transition of Executive power following President Trump’s overwhelming victory in the 2024 Presidential Election.”
Trump’s imminent return to the White House has already pumped the brakes on his other criminal prosecutions.
harveyorganblog.com 
