DEC 30/USUAL AND CUSTOMARY RAID AS WE APPROACH THE ENDING OF DEC OPTIONS EXPIRY ON LONDON OTC/LBMA OPTIONS//GOLD CLOSED DOWN $11.95 TO $2605.30//SILVER WAS DOWN $0.39 TO $28.99/PLATINUM WAS DOWN $12.85 TO $908.75 WHILE PALLADIUM WAS DOWN $12.05 TO $903.55/TRUMP’S NEW TARIFFS WILL KILL EUROPE’S AUTO SECTOR//ISRAEL VS HAMAS UPDATES//ISRAEL VS HEZBOLLAH UPDATES/ISRAEL IN SYRIA//: ISRAEL KILLS MANY HAMAS TERRORISTS IN A RAID IN JABALYA AND NOW MOVE ONTO BEIT HANOUN (NORTH GAZA STRIP)//RUSSIA ISSUES/RUSSIA VS UKRAINE//COVID UPDATES/VACCINE INJURY REPORTS/DR PAUL ALEXANDER//SLAY NEWS ETC/USA PMI’S PLUMMET CAUSING THE DOW TO PLUMMET//SWAMP STORIES FOR YOU TONIGHT//ED DOWD INTERVIEWED BY GREG HUNTER A MUST VIEW//
190 H BMO CAPITAL 82 363 H WELLS FARGO SEC 20 657 C MORGAN STANLEY 14 686 C STONEX FINANCIA 1 737 C ADVANTAGE 86 905 C ADM 2 991 H CME 1
TOTAL: 103 103
JPMorgan stopped 0/103
GOLD: NUMBER OF NOTICES FILED FOR DEC/2024. CONTRACT: 103 NOTICES FOR 10,300 OZ 0.3203 TONNES
total notices so far: 25,856 contracts for 2,585,600 Oz (80.423 tonnes)
FOR DEC
SILVER NOTICES: 80 NOTICE(S) FILED FOR 400,000 OZ/
total number of notices filed so far this month : 9166 for 45.830 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD DOWN $11.95 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD:
HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.280 TONNES OF GOLD FROM THE GLD/
INVENTORY RESTS AT 872.52 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.39 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.139 MILLION OZ FROM THE SLV.
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 460.512 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A HUGE SIZED991CONTRACTS TO 146,117 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS STRONG SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR LOSS OF $0,24 IN SILVER PRICING AT THE COMEX WITH RESPECT TO FRIDAY’S TRADING. WE HAD A HUGE GAIN OF 991 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS IN PRICE//FRIDAY’S TRADING.. WE HAD CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS ON FRIDAY COMEX TRADING AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST 2 WEEKS WHERE THE RAIDS WERE CALLED UPON AGAIN TO QUELL MASSIVE DERIVATIVE LOSSES BY OUR BULLION BANKS. THEY SUCCEEDED A BIT WITH //FRIDAY PRICING BUT ZERO LONGS WERE KNOCKED OFF. DERIVATIVE LOSSES CONTINUE TO MOUNT. AWE HAD CONSIDERABLE T.A.S. LIQUIDATION AND MONTH END SPREADER LIQUIDATION FRIDAY AS THE CROOKS EXITED THESE MANIPULATIVE TRADES.
WE HAD A 0 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A GOOD 476 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN FRIDAY;S TRADING AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE GAINED A HUGE SIZED 991 CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS IN PRICE. WE HAD CONSIDERABLE TAS LIQUIDATION THROUGHOUT FRIDAY’S COMEX SESSION COUPLED WITH MONTH END SPREADER LIQUIDATION. THREE WEEKS AGO, WE RECEIVED NOTICE OF .5000 MILLION OZ ISSUANCE OF EXCHANGE FOR RISK/ THIS WILL BE ADDED TO THE PREVIOUS EXCHANGE FOR RISK ISSUANCE OF .66 MILLION OZ/NEW EXCHANGE FOR RISK TOTALS FOR THE MONTH: 1.16 MILLION OZ.
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 YESTERDAY.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: A GOOD 476 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 ESPECIALLY WITH YESTERDAY’S TRADING. 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 $0.24) AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUGE GAIN IN PRICE DESPITE SPREADER/TAS LIQUIDATION.
WE HAD A 0 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 40.435 MILLION OZ (FIRST DAY NOTICE) TO WHICH WE MUST ADD THOSE STUPID “DELIVERIES” CALLED EXCHANGE FOR RISK , TOTALLING 1.16 MILLION OZ. WE ALSO HAD A GOOD 23 CONTRACT QUEUE JUMP FOR 0.115 MILLION OZ AS THESE BOYS WILL TRY THEIR LUCK IN TAKING DELIVERY OVER ON THIS SIDE OF THE PLANET.
// STANDING FOR SILVER//DEC INCREASES TO 45.830 MILLION OZ + 1.16 MILLION OZ EX FOR RISK = 46.990 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI GAIN +// 0 SIZED EFP ISSUANCE/ VI) GOOD SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 476 CONTRACTS)/ TO WHICH WE ADD 1.16 MILLION OZ EX. FOR RISK //
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 69 CONTRACTS.
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS DEC. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF DEC
TOTAL CONTRACTS for 20 DAYS, total 25,980 contracts: OR 129.900 MILLION OZ (1299 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 129.9000 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. 115.970 MILLION OZ ( HUGE THIS MONTH)
DEC: 129.900 MILLION OZ (THIS MONTH WILL BE A HUMDINGER FOR ISSUANCE BUT ISSUANCE SLOWED DRAMATICALLY THESE PAST THREE DAYS/// WILL NOT EXCEED MARCH 2022 RECORD OF 209 MILLION OZ)
RESULT: WE HAD AN HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 991 CONTRACTS DESPITE OUR HUGE LOSS IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A 0 EFP ISSUANCE CONTRACTS: 0 ISSUED FOR DEC AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR DEC OF 40.435 MILLION OZ ON FIRST DAY NOTICE, FOLLOWED BY TODAY’S 80,000 OZ QUEUE JUMP TO WHICH WE ADD 1.16 MILLION OZ OF EXCHANGE FOR RISK/PRIOR EQUALS 46.990 MILLION OZ
//NEW TOTAL STANDING FOR DEC AT 46.990 MILLION OZ
WE HAVE A HUGE SIZED GAIN OF 991 OI CONTRACTS ON THE TWO EXCHANGES DESPITE OUR GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GOOD 476 CONTRACTS TRYING DESPERATELY TO CONTAIN SILVER’S PRICE RISE,//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION ALONG WITH MONTH END SPREADER LIQUIDATION// . BUT THEY STILL NEED THESE ISSUANCE FOR REPLENISHMENT FOR FUTURE TRADING /THE GOOD TA.S. ISSUANCE// STRONG LIQUIDATION DISTORTS THE TOTAL OI CONTRACTS STANDING AT THE COMEX. NO NET LONG SPECULATORS WERE BURNED ON FRIDAY WITH THE GAIN IN PRICE. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.
THE NEW TAS ISSUANCE FRIDAY NIGHT (476) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE, AND PROBABLY NOT TODAY.
WE HAD 80 NOTICE(S) FILED TODAY FOR 400,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 2033 OI CONTRACTS TO 448,554 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 A LARGE SIZED 1065 CONTRACTS//
WE HAD A FAIR SIZED DECREASE IN COMEX OI (2033 CONTRACTS) OCCURRED DESPITE OUR LOSS OF $17.10 IN PRICE FRIDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR DEC AT 57.284 TONNES ON FIRST DAY NOTICE. FOLLOWED BY A 83 CONTRACT QUEUE JUMP FOR 8300 OZ ( 0.2582 TONNES). WE MUST NOW ADD 14.6836 TONNES OF EXCHANGE FOR RISK ISSUED ON 6 OCCASIONS IN THIS ACTIVE DECEMBER CONTRACT MONTH.
/NEW STANDING 95.1066 TONNES
/ ALL OF THIS HAPPENED WITH OUR $17.10 LOSS IN PRICE WITH RESPECT TO FRIDAY’S COMEX ///. WE HAD A FAIR LOSS OF 1303 OI CONTRACTS (4.052 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 THE WEEK WITH MAJOR TENDERING FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE! YOU CAN VISUALIZE THIS WITH THE VIOLENT ACTION AT THE COMEX WITH RESPECT TO A 83 CONTRACT QUEUE JUMP TODAY (8300 OZ) ALONG WITH THE 14.6836 EXCHANGE FOR RISK ISSUANCE THIS MONTH //NEW TOTAL TONNES OF DELIVERY: 95.1066 TONNES
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 730 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 449,619
IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2033 CONTRACTS WITH 2033 CONTRACTS DECREASED AT THE COMEX// AND A SMALL SIZED 730 EFP OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 1303 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED BUT CRIMINAL 720 CONTRACTS ISSUED. WE HAD A STRONG LIQUIDATION OF T.A.S CONTRACTS DESPITE OUR LOSS IN PRICE FRIDAY AS THE NEED FOR REPLENISHMENT WAS STILL IN ORDER TO CARRY OUT ITS PRICE CONTAINMENT STRATEGY IN FUTURE TRADING. WE ALSO HAD STRONG MONTH END SPREADER LIQUIDATION FINALIZING THIS CRIMINAL OPERATION .
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (720 CONTRACTS) ACCOMPANYING THE FAIR SIZED DECREASE IN COMEX OI OF 2033 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 1303 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 DEC 55.117 TONNES FOLLOWED BY TODAY.S 8300 OZ QUEUE JUMP TO WHICH WE ADD THOSE CRAZY EXCHANGE FOR RISK ON 6 PRIOR OCCASIONS OF 14.6836 TONNES//NEW STANDING 95.1066 TONNES
//NEW STANDING DECEMBER: 95.1066 TONNES
/ 3) STRONG T.A.S. LIQUIDATION TRYING TO LOWER GOLD’S PRICE FRIDAY WITH NO SUCCESS IN REMOVING SPECULATOR LONGS, AS WE HAD A 1) $17.10 PRICE LOSS, BUT 2) ZERO NET LONG SPECS BEING CLIPPED AS WE ALSO HAD STRONG MONTH END SPREADER LIQUIDATION AS WELL AS TAS LIQUIDATION.. HOWEVER, 3)STICKY GOLD’S LONGS ARE NOT FOOLED BY THE RAID IN PRICE AS THEY WERE REWARDED FRIDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL.
4) FAIR SIZED COMEX OPEN INTEREST DECREASE 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///SMALL T.A.S. ISSUANCE: 720 T.A.S.CONTRACTS// 6.) 83 CONTRACT QUEUE JUMP OR AN ADDITIONAL 8300 OZ WILL STAND FOR DELIVERY AT THE COMEX.
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
DEC
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC :
TOTAL EFP CONTRACTS ISSUED: 112,032 CONTRACTS OF 11,203,200 OZ OR 348.466 TONNES IN 20 TRADING DAY(S) AND THUS AVERAGING: 5858 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 20 TRADING DAY(S) IN TONNES 348.466 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 348.466 DIVIDED BY 3550 x 100% TONNES = 9.83% 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: 393.875 TONNES ( A HUGE MONTH////NOW SURPASSED THE PREVIOUS 3RD AND 2ND HIGHEST EVER RECORDED EX FOR PHYSICAL ISSUANCE TO BECOME THE 2ND HIGHEST EVER RECORDED
DEC 348.466 TONNES (we will also have a humdinger of an exchange for physical issuance for this month
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF FEB. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A STRONG SIZED 991 CONTRACTS OI TO 146,117 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 7 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 0 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 0 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 991 CONTRACTS AND ADD TO THE 0 E.FP. ISSUED
WE OBTAIN A STRONG SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 991 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS A HUGE 4.955 MILLION OZ OCCURRED DESPITE OUR $0.24 LOSS IN PRICE
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS/MONDAY MORNING FRIDAY NIGHT
ASIA TRADING MONDAY MORNING/FRIDAY NIGHT
SHANGHAI CLOSED UP 7.18 PTS OR 0.21%
//Hang Seng CLOSED DOWN 49.04 PTS OR 0.24%
// Nikkei CLOSED DOWN 356.22 OR 0.96%//Australia’s all ordinaries CLOSED DOWN 0.28%
//Chinese yuan (ONSHORE) CLOSED UP TO 7.3028 CHINESE YUAN OFFSHORE CLOSED UP TO 7.3025// Oil DOWN TO 70.96 dollars per barrel for WTI and BRENT DOWN AT 74.00 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN TRADING AT LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED2033 CONTRACTS TO 448,554 DESPITE OUR CONSIDERABLE LOSS IN PRICE OF $17.10 WITH RESPECT TO FRIDAY’S TRADING. WE LOST FEW NET LONGS WITH OUR PRICE LOSS FOR GOLD. WE HAD, AS YOU WILL SEE BELOW, A SMALL NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (730). THUS WE HAD A FAIR LOSS ON OUR TWO EXCHANGES OF 1303 CONTRACTS WITH OUR LOSS IN PRICE. OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON FRIDAY NIGHT AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED RAID AS THEY ABSORBED EVERYTHING IN SIGHT FROM THE DAILY ATTACKS WITH THE CONTINUAL LIQUIDATION OF T.A.S. CONTRACTS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY FOR THE THOUGHTFULNESS.
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 PAST WEEK ESPECIALLY WITH FRIDAY’S TRADING. WE HAD CONSIDERABLE T.A.S. LIQUIDATION ALL THIS WEEK AT THE COMEX AND THIS WAS COUPLED WITH MONTH END SPREADER LIQUIDATION.
THE FED IS THE MAJOR SHORT OF AROUND 82+ 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 PODCAST 197 , 199, 2001, AND FRIDAY NIGHTS 202, 203 AND 204 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 LIKE THESE PAST 5 DAYS OF RAIDS.
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.
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 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 DEEP INTO THE ACTIVE DELIVERY MONTH OF DECEMBER.… THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A SMALL SIZED 730 EFP CONTRACTS WERE ISSUED: : /DEC 730 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 730 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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1303 CONTRACTS IN THAT 730 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR LOSS OF 2033 COMEX CONTRACTS..AND THIS FAIR LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR STRONG LOSS IN PRICE OF $17.10 FRIDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AT THE COMEX AS MENTIONED ABOVE.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT WAS A SMALL SIZED SIZED 720 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 ORCHESTRATED, ON MONDAY NOV 25, THEIR HUGE RAID TO LOWER THE PRICE OF GOLD TO MAKE THEIR COMEX BETS WHOLE ON OPTIONS EXPIRY WEEK AND THUS THE NEED FOR CONTINUAL STRONG T.A.S. ISSUANCE AND THEN LIQUIDATION (COUPLED WITH THE LIQUIDATION OF CALENDAR SPREADERS ). THE USE OF OUR TWO SPREADER MECHANISMS WERE OF EXTREME IMPORTANCE TO OUR CROOKS IN LATE NOVEMBER’S OPTIONS EXPIRY TRADING. WE HAD CONTINUAL T.A.S. AND FINAL MONTH END SPREADER LIQUIDATION ESPECIALLY ON FRIDAY NOV 29 .THE LIQUIDATION OF T.A.S. SUBSIDED QUITE DRAMATICALLY DURING THE FIRST WEEK AND A HALF OF DECEMBER BUT THAT DRAMATICALLY CHANGED THIS WEEK WITH CONSIDERABLE LIQUIDATION ALL WEEK COUPLED WITH MONTH END SPREADER LIQUIDATION.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: DEC (95.1066 TONNES) WHICH IS HUGE FOR OUR ACTIVE DEC DELIVERY MONTH.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 48 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 . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNESEQUALS 95.1066 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $17.10/)//AND WERE SUCCESSFUL IN KNOCKING OFF A FEW NET SPECULATOR LONGS AS WE DID HAVE A FAIR LOSS IN OUR TWO EXCHANGES. AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION FRIDAY COUPLED WITH MONTH END SPREADER LIQUIDATION. WE ALSO HAD A SMALL T.A.S. ISSUANCE FRIDAY NIGHT (SATURDAY MORNING), AS THE NEED FOR REPLENISHMENT WAS STILL EVER PRESENT. THIS COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL FRIDAY EVENING.
EXCHANGE FOR RISK
19 DAYS AGO, FRIDAY NIGHT (EARLY SATURDAY MORNING NOV 30) THE CME ANNOUNCED ANOTHER OF THOSE CRAZY DELIVERIES: THE ISSUANCE OF 250 EXCHANGE FOR RISK CONTRACTS WHICH TOTAL 25000 OZ (.7776 TONNES. HERE THE BUYER ASSUMES THE RISK THAT HE WILL BE DELIVERED UPON IN PHYSICAL METAL. THIS IS ABSOLUTELY INSANE AND A HUGE VIOLATION OF THE TRUE DISCOVERY PRICE MECHANISM WHICH IS THE COMEX MANTRA!. AND THEN GUESS WHAT? THE CME ANNOUNCED ANOTHER EXCHANGE FOR RISK, LATE TUESDAY EVENING/ EARLY WEDNESDAY MORNING, (DEC 5) OF 617 CONTRACTS FOR 61,700 OZ OR GOLD (1.919 TONNES). THEN MUCH TO MY ANGER, THE CME ANNOUNCED A THIRD ISSUANCE FRIDAY NIGHT DEC 7 FOR A MONSTROUS 2254 EXCHANGE FOR RISK CONTRACTS OR 225,400 OZ OR 7.0108 TONNES. NOT TO BE UNDONE, THE CROOKS CONTINUED WITH THEIR NONSENSE WITH ANOTHER 50 CONTRACT EXCHANGE FOR RISK THE MORNING OF DEC 12 FOR 5000 OZ OR .1555 TONNES. AND THIS BRINGS US TO THIS EARLY FRIDAY MORNING (DEC 13) WHERE I WAS SHOCKED TO SEE FOR THE FIFTH TIME THIS MONTH AN ENTRY FOR 250 CONTRACTS OF EXCHANGE FOR RISK FOR 25000 OZ OR .7776 TONNES.THUS ALL FIVE OF THESE ISSUANCES WILL BE ADDED TO THE TOTAL GOLD BEING “DELIVERED UPON”. THIS BRINGS US TO EARLY SATURDAY MORNING DEC 21 WHERE TO MY SHOCK AGAIN WE HAD OUR 6TH ISSUANCE OF EXCHANGE FOR RISK TOTALLING 1300 CONTRACTS FOR AN ASTOUNDING 4.043 TONNES. THIS BRINGS THE TOTAL ISSUANCE FOR THE MONTH TO 14.6836 TONNES. THE COMEX IS TOTALLY SHATTERED TO PIECES.
TOTAL DELIVERIES
WE HAVE LOST A TOTAL OF 4.052 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR DEC (55.167TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 8300 OZ OR 0.2582 TONNES, TO WHICH WE MUST ADD OUR 6 ISSUANCES OF EXCHANGE FOR RISK FOR A TOTAL OF 14.6836 TONNES. THUS TAKEN TOGETHER,, THE TOTAL GOLD STANDING FOR THIS VERY ACTIVE DELIVERY MONTH OF DECEMBER IS:
80.4230 TONNES (NORMAL DELIVERY) +
14.6836 TONNES (EX FOR RISK)
EQUALS: 95.1066 TONNES
/ STANDING FOR DEC INCREASES TO 95.1066 TONNES
NEW STANDING FOR DECEMBER: 95.1066 TONNES (WHICH IS HUGE FOR OUR VERY ACTIVE DELIVERY MONTH)
ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $17.10
WE HAD 1065 CONTRACTS ADDED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.
NET LOSS ON THE TWO EXCHANGES 1303 CONTRACTS OR 130,300 OZ (4.052 TONNES)
a)Into JPMorgan 160,760.000 (5,000 kilobars) b) Into Brinks: 110,149.330 oz (3426 kilobars) c) Into Loomis: 96,453.000 (3000 kilobars
total deposit 307,362.33 oz 11,426 kilobars 11.426 tonnes
No of oz served (contracts) today
103 notice(s) 10300 OZ 0.3203 TONNES
No of oz to be served (notices)
0 contracts 00 OZ 0.0000 TONNES
Total monthly oz gold served (contracts) so far this month
25,856 notices 2,585,600 oz 80.423 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 kilobars
we have 3 customer deposits
a)Into JPMorgan 160,760.000 (5,000 kilobars) b) Into Brinks: 110,149.330 oz (3426 kilobars) c) Into Loomis: 96,453.000 (3000 kilobars
total deposit 307,362.33 oz 11,426 kilobars 11.426 tonnes
total deposit 159,950.000 oz 4,975 kilobars 4.975 tonnes
strictly a paper gold entry.
total for the last 5 days; north of 69.9 tonnes of kilobars
withdrawals: 1
i) Out of Brinks 289.359 oz (9 kilobars)
adjustments: 1 and a dandy: 184,225.231 oz (5730 kilobars)
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DEC.
For the front month of DEC: we have an oi of 103 contracts having GAINED 0 contracts. We had 83 contracts served on FRIDAY, so we GAINED a STRONG 83 contracts or 8300 oz (0.2382 TONNES) underwent a queue jump bolting ahead of others to take delivery of gold over on this side of the planet.
JANUARY LOST 69 CONTRACT(S) TO STAND AT 3782
FEBRUARY LOST 2883 CONTRACTS TO 327,697 .
We had 103 contracts filed for today representing 10300 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 103 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 DEC /2024. contract month, we take the total number of notices filed so far for the month (25,856 x 100 oz ) to which we add the difference between the open interest for the front month of DEC(103 CONTRACTS) minus the number of notices served upon today (103 x 100 oz per contract( equals 2,585600 OZ OR 80.423 TONNES. to which we add 14.6836 tonnes of exchange for risk WHICH EQUALS 95.1066 TONNES
thus the INITIAL standings for gold for the DEC contract month: No of notices filed so far (25,856 x 100 oz +we add the difference for front month of DEC (103 OI} minus the number of notices served upon today (103 x 100 oz which equals 2,585,600 oz (80.423 TONNES) + 14.6836 tonnes of ex. for risk MONTH OF DEC //new total GOLD STANDING 95.1066 TONNES
TOTAL COMEX GOLD STANDING FOR DEC.: 95.1066 TONNES WHICH IS HUGE FOR THIS ACTIVE DELIVERY MONTH IN THE CALENDAR.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 21,739,993.632 OZ
TOTAL REGISTERED GOLD 8,871,391.136/// 275.94 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 12,868,602.496 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,769,967 oz (REG GOLD- PLEDGED GOLD)= 210.057 tonnes //
JPMorgan enhanced inventory is 3.592 million oz/1,877,000 oz = 19.15% of entire inventory..
END
SILVER/COMEX
DEC 30. 2024
INITIAL
//2024// THE DEC 2024 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
1,351,293.024 oz
Delaware Brinks Loomis
.
Deposits to the Dealer Inventory
NIL
Deposits to the Customer Inventory
i) Into Asahi: 575,795.200 oz ii) Into Brinks: 1199,879,950 oz iii) Into CNT 243,093.000 oz
No of oz served today (contracts)
80 CONTRACT(S) (400,000 OZ)
No of oz to be served (notices)
64 contracts (0.320 MILLION oz)
Total monthly oz silver served (contracts)
9166 Contracts (45.830 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 3 customer deposits
a) Into Asahai: 575,795.200 oz
b) Into Brinks 1,199,879,950 oz
c) Into CNT 241,093.000 oz
total customer deposit 2,020,639.000 oz
We had 3 withdrawals
a) Out of Delaware 386.100 oz
b) Out of Brinks 282,610.934 oz
c) Out of Loomis: 1064,815.990 oz
total withdrawal 1,351,293.024 oz oz
JPMorgan has a total silver weight: 135.532million oz/317.295million or 42.74%
adjustments:
a) customer to dealer JPM: 324,214.700 oz
next removal eligible/Brinks 593,333.914 oz
TOTAL REGISTERED SILVER: 72.295MILLION OZ//.TOTAL REG + ELIGIBLE. 317.285 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DEC
silver open interest data:
FRONT MONTH OF DEC /2024 OI: 80 OPEN INTEREST FOR A GAIN OF 6 CONTRACT(S). WE HAD
10 CONTRACTS ISSUED ON FRIDAY SO WE HAD A GAIN OF 16 CONTRACTS AND THIS QUEUE JUMP I.E. 80,000 ADDITIONAL OZ WILL STAND AT THE COMEX WHERE THESE BOYS WILL TRY THEIR LUCK AND TAKE DELIVERY OF PHYSICAL SILVER OVER HERE.
JANUARY SAW A LOSS OF 46 CONTRACTS DOWN TO 1770
FEBRUARY SAW A GAIN 0F 3 CONTRACTS TO STAND AT 522
MARCH SAW A GAIN OF 849 CONTRACTS UP TO 117,336
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 80 for 400,000 oz
CONFIRMED volume; ON FRIDAY 18,146 awful//
To calculate the number of silver ounces that will stand for delivery in DEC we take the total number of notices filed for the month so far at 9166x 5,000 oz = 45.830 MILLION oz
to which we add the difference between the open interest for the front month of DEC (80) and the number of notices served upon today (80)x (5000 oz)
Thus the standings for silver for the DEC 2024 contract month: 9166 Notices served so far) x 5000 oz + OI for the front month of DEC(80) minus number of notices served upon today (80)x 5000 oz equals silver standing for the DEC contract month equating to 45.750 MILLION OZ. + to which we add 1.16 million oz of exchange for risk PRIOR////new total 46.990 MILLION OIOZ
New total standing: 46.990 million oz.
There are 72.031 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//
DEC 30 WITH GOLD DOWN $11.95 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 0.28 TONNES OF GOLD FROM THE GLD : ///INVENTORY RESTS AT 872.52 TONNES
DEC 27 WITH GOLD DOWN $17.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD : ///INVENTORY RESTS AT 872.80 TONNES
DEC 26 WITH GOLD UP $17.55 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: : ///INVENTORY RESTS AT 873.95 TONNES
DEC 24 WITH GOLD UP $6.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.45 TONNES OF GOLD OUT OF THE GLD. / // : .///INVENTORY RESTS AT 873.95 TONNES
DEC 23 WITH GOLD DOWN $13,75 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 16.66 TONNES OF GOLD VAPOUR GOLD INTO THE GLD. / // : .///INVENTORY RESTS AT 877.40 TONNES
DEC 20 WITH GOLD UP $29,75 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.16 TONNES OF GOLD FROM THE GLD. / // : .///INVENTORY RESTS AT 860.74 TONNES
DEC 19 WITH GOLD DOWN $45.00 ON THE DAY; SMALL CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF .29 TONNES OF GOLD FROM THE GLD. / // : .///INVENTORY RESTS AT 863.90 TONNES
DEC 18 WITH GOLD DOWN $8.40 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: / // : .///INVENTORY RESTS AT 864.19 TONNES
DEC 17 WITH GOLD DOWN $6.85 ON THE DAY; SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.23 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 864.19 TONNES
DEC 16 WITH GOLD DOWN $2.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.70 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 863.90 TONNES
DEC 13 WITH GOLD DOWN $24.55 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.78 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 868.60 TONNES
DEC 12 WITH GOLD DOWN $34.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.59 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 873.38 TONNES
DEC 11 WITH GOLD UP $29.75 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: // : .///INVENTORY RESTS AT 870.79 TONNES
DEC 9 WITH GOLD UP $31.10 ON THE DAY; NO CHANGES IN GOLD AT THE GLD. // : .///INVENTORY RESTS AT 871.94 TONNES
DEC 6 WITH GOLD UP $6.60 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD. A WITHDRAWAL OF 1.71 TONNES OF GOLD FROM THE GLD// : .///INVENTORY RESTS AT 871.94 TONNES
DEC 5 WITH GOLD DOWN $26.80 ON THE DAY; NO CHANGES IN GOLD AT THE GLD./ : .///INVENTORY RESTS AT 873.65 TONNES
DEC 4 WITH GOLD UP $6.15 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 2.31 TONNES OF GOLD FROM THE GLD./ : .///INVENTORY RESTS AT 873.65 TONNES
DEC 3 WITH GOLD UP $10.30 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 2.59 TONNES OF GOLD FROM THE GLD./ : .///INVENTORY RESTS AT 875.96 TONNES
DEC 2 WITH GOLD DOWN $20.20 ON THE DAY; NO CHANGES IN GOLD AT THE GLD : .///INVENTORY RESTS AT 878.55 TONNES
NOV 29 WITH GOLD UP $16.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD : Z WITHDRAWAL OF .86 TONNES OF GOLD FROM THE GLD . .///INVENTORY RESTS AT 878.55 TONNES
NOV 27 WITH GOLD UP $18.05 ON THE DAY; NO CHANGES IN GOLD AT THE GLD : . .///INVENTORY RESTS AT 879.41 TONNE
NOV 26 WITH GOLD UP $3.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD : A DEPOSIT OF 1.44 TONNES OF GOLDINTO THE GLD. .///INVENTORY RESTS AT 879.41 TONNES
GLD INVENTORY: 872.52 TONNES, TONIGHTS TOTAL
SILVER
EC 30 WITH SILVER DOWN 39 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: // A WITHDRAWAL OF 1.13 MILLION OZ FROM THE SLV//INVENTORY AT SLV RESTS AT 460.512 MILLION OZ
DEC 27 WITH SILVER DOWN 24 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV: // //INVENTORY AT SLV RESTS AT 461.651 MILLION OZ
DEC 24 WITH SILVER UP 2 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV// //INVENTORY AT SLV RESTS AT 463.747 MILLION OZ
DEC 23 WITH SILVER UP 19 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV/////A DEPOSIT OF 6.15 MILLION OZ INTO THE SLV //INVENTORY AT SLV RESTS AT 463.747 MILLION OZ
DEC 20 WITH SILVER UP 43 CENTS //SMALL CHANGES IN SILVER INVENTORY AT THE SLV/////A DEPOSIT OF 183,000 OZ INTO THE SLV //INVENTORY AT SLV RESTS AT 457.597 MILLION OZ
DEC 19 WITH SILVER DOWN 25 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV///// //INVENTORY AT SLV RESTS AT 457.414 MILLION OZ
DEC 18 WITH SILVER DOWN 19 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1.094 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 457.414 MILLION OZ
DEC 17 WITH SILVER DOWN 12 CENTS //SMALL CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 0.456 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 458.052 MILLION OZ
DEC 16 WITH SILVER DOWN 0 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 4.84 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 458.052 MILLION OZ
DEC 13 WITH SILVER DOWN 46 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF .536 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 462.892 MILLION OZ
DEC 12 WITH SILVER DOWN 94 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 5.787 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 463.428 MILLION OZ
DEC 11 WITH SILVER UP 10 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 2.597 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 469.215 MILLION OZ
DEC 10 WITH SILVER DOWN 8 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 1.868 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 471.812 MILLION OZ
DEC 9 WITH SILVER UP $0.91 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 1.367 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 473.680 MILLION OZ
DEC 6 WITH SILVER DOWN $0.00 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE DEPOSIT OF 4.329 MILLION OZ/// //INVENTORY AT SLV RESTS AT 475.047 MILLION OZ
DEC 5 WITH SILVER DOWN $0.23 //NO CHANGES IN SILVER INVENTORY AT THE SLV” /// //INVENTORY AT SLV RESTS AT 470.718 MILLION OZ
DEC 4 WITH SILVER UP 26 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV”: A WITHDRAWAL OF 2.206 MILLION OZ FORM THE SLV. /// //INVENTORY AT SLV RESTS AT 470.718 MILLION OZ
DEC 3 WITH SILVER UP 59 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV /// //INVENTORY AT SLV RESTS AT 472.924 MILLION OZ
DEC 2 WITH SILVER DOWN 19 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV. A WITHDRAWAL OF 1,458,000 OZ FROM THE SLV. /// //INVENTORY AT SLV RESTS AT 472.924 MILLION OZ
NOV 29 WITH SILVER UP 51 CENTS //SMALL CHANGES IN SILVER INVENTORY AT THE SLV. A WITHDRAWAL OF 365,000 OZ FROM THE SLV. /// //INVENTORY AT SLV RESTS AT 474.382 MILLION OZ
NOV 27 WITH SILVER DOWN $0.25 //NO CHANGES IN SILVER INVENTORY AT THE SLV.. /// //INVENTORY AT SLV RESTS AT 474.747 MILLION OZ
NOV 26 WITH SILVER UP $0.10 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV:.A WITHDRAWAL OF 1.094 MILLION OZ FROM THE SLV./.. /// //INVENTORY AT SLV RESTS AT 474.747 MILLION OZ
CLOSING INVENTORY 460.512 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY
END
2/ Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
Alasdair Macleod
3. CHRIS POWELL AND GATA DISPATCHES
4. OTHER GOLD COMMENTARIES/
END
ANDREW MAGUIRE AND ALASDAIR MACLEOD//LIVE FROM THE VAULT 204
end
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES: COMMODITY’COFFEE/OIL ETC
Javier Blas: Prepare For A Turbulent 2025 In Coffee, Oil, & Other Commodity Markets
Monday, Dec 30, 2024 – 01:05 PM
The soft agricultural market has seen a rollercoaster of performances, with orange juice, cocoa, cattle, and coffee hitting record highs amid persistent global supply concerns. These trends show little sign of abating and are expected to continue into 2025.
“Before it’s too late, order your espresso. It will be more expensive in 2025, and anyone trading — or observing — energy and commodity markets into the new year will need caffeine to survive,” Bloomberg Opinion and commodities columnist Javier Blas wrote in a note.
With 2025 just days away, traders eagerly search for broader commodity insights into what the new year may bring.
Blas provided readers with five commodity themes for 2025 that he will be monitoring:
1. The OPEC+ oil cartel is on the ropes. Having delayed a production increase by already six months, it’s unlikely that the group will be able to hike output in 2025 unless Trump comes to the rescue. Global oil demand growth in the new year is likely to reach around one million barrels a day, lower than the expected output growth from non-OPEC+ countries. The squeeze is the result of several years of high oil prices that have encouraged OPEC+’s rivals to invest in new output capacity.
Trump could alter the equation if he tightly enforces current American oil sanctions on Iran and Venezuela. For nearly four years, the Biden administration turned a blind eye on rising oil exports from both countries. If the incoming US president hits Tehran and Caracas, Saudi Arabia can use the opportunity to hike production. Otherwise, I don’t see much space for extra Saudi crude.
But Trump can create trouble for OPEC+, too, via two policies. One is his threat of a trade war, not only with Canada and Mexico, but also with the European Union and China, that could derail economic growth. The second is loosening regulations for American drilling. Trump has insisted his top priority is lower energy prices and more US oil and gas production, so, on balance, OPEC+ is likely to struggle. Yet, with Brent trading close to $70 a barrel, oil isn’t the easy short it was when it was close to $100 a barrel.
2. Like OPEC+, British oil major BP Plc is also on the ropes. The company has been a disaster in the stock market, down more than 20% over the last five years. At current prices, its market value has declined to about $75 billion, a fraction of the $250 billion nearly two decades ago. The company has a key date with its shareholders in early February, when it’s scheduled to update its strategy.
The strategic update may give some investors a reason to stick with the company, but it will put the spotlight on two negatives: BP will effectively issue a profit warning. It previously guided the market to expect earnings before interest, taxes and depreciation (Ebitda) as high as $49 billion in 2025. The true number is probably at least $10 billion lower. With that, share buybacks are likely to be lowered too, from a current pace of $1.75 billion a quarter to something far more affordable — say, $1 billion — to protect the balance sheet. In the oil business, the credit rating comes ahead of the shareholders. Lower earnings and a smaller share repurchase could kill investor appetite for the stock, however, and open the door for a corporate deal. I have argued in the past that the company should seek a merger with a rival and see that as a high chance in 2025. The most obvious one is Shell Plc.
3. Watching OPEC+ and BP will require a steady supply of coffee. Brace yourself for higher prices. Brazil and Vietnam, the world’s top producers of the Arabica and Robusta bean varieties, face a crop shortfall. This could be the fifth consecutive season where coffee consumption surpasses production , which is unprecedented. In late 2024, the price of Arabica surged to an all-time high, surpassing the nominal peak set in 1977. It may not be enough to keep the market balanced. Coffee traders believe that if the Brazilian crop doesn’t recover — something unlikely — prices may need to climb from about 350 cents a pound currently to somewhere between 400 cents and 500 cents. Coffee roasters will in turn raise retail prices, particularly for the espresso made from Arabica beans.
While you’re bracing yourself for higher-for-longer coffee, add hot chocolate to your list. The crops in West Africa, the region that accounts for 70% of the world’s cocoa production, haven’t recovered as much as previously expected, and prices are at record highs.
4. Coal is one of the commodities that receives less attention — despite its still-huge importance to the energy system and the fight against climate change. For years, many have considered it to be “dead” or “dying.” At the COP26 climate change conference in 2021 in Glasgow, the world agreed to “consign coal to history.” But it’s alive, omnipotent and omnipresent. In 2024, the world consumed a record amount, and 2025 will be a pivotal year to see whether a change of trend occurs.
I’m pessimistic because China has adopted coal as the cornerstone of its energy system, with renewables as a complement. The Asian nation alone consumes 30% more coal that the rest of the world altogether, endangering any progress to stop global warming.
5. Iron ore is, alongside coal, one of those raw materials that is often overlooked. It isn’t a mainstay of commodity investing in financial markets. But it’s key for the profitability of global mining groups and steelmakers alike. And it’s a great barometer of economic activity in China. Its price has dropped to $100 per metric ton now from more than $200 in 2021.
The new year could mark an inflection point for the commodity: Chinese steel production probably reached a zenith between 2022 and 2024, and at best, it would be able to sustain an elevated plateau in 2025. Because China nowadays produces more than half of the world’s steel, what happens there matters enormously. Crucially, iron-ore supply is going to increase next year too, including from a new source of low-cost production: Guinea in West Africa. Put the two forces together, and the iron-ore market may enter the first of several years of surpluses. Lower prices beckon in 2025.
Additional insight for the commodity trade ahead of the new year comes from a recent note by BofA’s Michael Hartnett, who stated, “The commodity bull market is just starting.”
Hartnett wrote in September that while most commodities appear to be in a secular bear market right now – once again mostly thanks to China’s economic slowdown – that is about to change: that’s because the secular commodity bull market in the 2020s (11% annualized returns) just getting started…
…. as debt, deficits, demographics, reverse-globalization, AI and net zero policies all inflationary.
// Nikkei CLOSED DOWN 356.22 OR 0.96%//Australia’s all ordinaries CLOSED DOWN 0.28%
//Chinese yuan (ONSHORE) CLOSED UP TO 7.3028 CHINESE YUAN OFFSHORE CLOSED UP TO 7.3025// Oil DOWN TO 70.96 dollars per barrel for WTI and BRENT DOWN AT 74.00 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN TRADING AT LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.3028
OFFSHORE YUAN: DOWN TO 7.3025
SHANGHAI CLOSED CLOSED UP 7.18 PTS OR 0.24%
HANG SENG CLOSED CLOSED DOWN 49.04 PTS OR 0.24%
2. Nikkei closed DOWN 356.22 PTS OR 0.96%
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX UP TO 107.63 EURO RISES TO 1.0449 UP 33 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +1.074 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 157.53…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and DOWN FOR UP this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.3835 Italian 10 Yr bond yield DOWN to 3.528 //SPAIN 10 YR BOND YIELD DOWN TO 3.068
3i Greek 10 year bond yield DOWN TO 3.221
3j Gold at $2609.25/Silver at: 29.13 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 3 AND 31/100 roubles/dollar; ROUBLE AT 108.78
3m oil into the 70 dollar handle for WTI and 74 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 157.53 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.074% 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 0.9032 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9437 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: 4.538 DOWN 4 BASIS PTS…
USA 30 YR BOND YIELD: 4.780 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.289 DOWN 4 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 35.29…
10 YR UK BOND YIELD: 4.6760 UP 2 PTS
10 YR CANADA BOND YIELD: 3.312 DOWN2 BASIS PTS
5 YR CANADA BOND YIELD: 3.039 DOWN 4 PTS.
2a New York OPENING REPORT
RIP Santa Rally: Futures Tumble As Mag 7 Slides
Monday, Dec 30, 2024 – 08:25 AM
US equity futures dropped sharply on the second to last day of 2024, crushing a deathly blow to any hopes of a belated Santa rally, as the powerful meltup in technology shares and among momentum chasers crumbled in the final trading sessions of 2024. As of 8:00am, S&P 500 futures slumped 1%, dropping for a 3rd straight session and signaling extended weakness on Wall Street after Friday’s retreat led by tech megacaps weakness; Nasdaq futures also slid 1%. Monday’s weakness was broad based: Europe’s Stoxx 600 index retreated, while Asian stocks snapped five days of gains. Treasuries reversed an earlier slide, and the 10-year yield dropped from near the highest levels since May. The dollar also reversed earlier gains while gold and bitcoin were relatively flat. The US economic data calendar includes December MNI Chicago PMI (9:45am, several minutes earlier for subscribers) and November pending homes sales and December Dallas Fed manufacturing activity (10am)
Mag 7 stocks were set to end the year on a damp note, with all in the red in pre market trading: Apple -0.6%, Nvidia -0.8%, Microsoft -0.4%, Alphabet -0.4%, Amazon -0.7% Meta Platforms -0.6%, Tesla -1.7% in premarket trading. Boeing shares slid 4.8% in premarket trading on Monday after a 737-800 aircraft operated by Jeju Air crashed at Muan International Airport. Investigators are focusing on a possible bird strike or landing-gear failure, and an analyst said it’s unlikely the events were related to Boeing’s production. Axsome Therapeutics shares fall 13% in premarket trading on Monday after the company announced its Phase 3 trial for AXS-05 in Alzheimer’s disease agitation.
The Mag 7 tech supergiants have been behind the 25% gain in the S&P 500 this year, which has prompted some to worry that the gains are too concentrated in a small group of names (see “Supercharged AI Bubble Or Epic Market Bust: BofA Derivative Desk’s Dire 2025 Outlook“). Still, few are calling for the rally to end and none of the 19 strategists tracked by Bloomberg – all of whom were wrong in their 2024 year-end price forecasts – expects the S&P 500 to decline next year.
“In these moments, it’s best to stay put,” said Nicolas Domont, a fund manager at Optigestion in Paris. “The US remains the place to be. Growth stocks continue to outperform and earnings forecasts are good, so there are good reasons to remain optimistic.”
European stocks also fell in the penultimate trading session of 2024, tracking declines in their Asian counterparts amid thin trading volumes. The Stoxx 600 is down 0.2%, led lower by declines in media and health care shares.
Earlier in the session, Asian equities snapped a five-day advance, with Japanese benchmark indexes leading losses. The MSCI Asia Pacific index declined as much as 0.6%, its biggest drop in a week, with Toyota, Sony and Hitachi dragging down the benchmark. Japan’s Topix Index fell from a five-month high on the last trading day of the year for the nation. Stocks also declined in Australia and India. Shares were mixed in China. The onshore CSI 300 gauge closed with small gains, while the Hong Kong measure fell, weighed down by technology names.
“Overnight weak markets in the US have weighed on sentiment, notably in Japan & Hong Kong,” said Kok Hoong Wong, head of institutional equities sales trading at Maybank Securities. “We would expect volumes to continue to be low for rest of the week, and sentiment to be cautious,” he said.
In FX, the Bloomberg Dollar Spot Index dropped 0.1% after rising more than 7% in 2024, driven by the anticipation of “America First” policies from President-elect Donald Trump. The kiwi tops the G-10 FX leader board, rising 0.4% against the greenback; NZDUSD and AUDUSD lead G-10 gains versus the dollar climbing as much as 0.5% respectively. The euro strengthened after Spanish consumer prices rose to 2.8% in December, exceeding expectations and staying above 2% for the second month; EURUSD rose as much as 0.2% to 1.0444.
Treasuries rose, with 10-year yields dropping from near the highest levels since May as the treasury market was close to erasing the small gains it has made so far in 2024. 10-year yields fell 5 bps to 4.57%, while German 10-year yields fall 1 bp to 2.39% having briefly risen after Spanish inflation data surprised to the upside.
In commodities, oil prices declined again, with WTI falling 0.3% to $70.40 a barrel. Spot gold falls $9. Bitcoin rises toward $94,000.
The US economic data calendar includes December MNI Chicago PMI (9:45am, several minutes earlier for subscribers) and November pending homes sales and December Dallas Fed manufacturing activity (10am)
Market Snapshot
S&P 500 futures down 0.2% to 6,012.75
STOXX Europe 600 down 0.2% to 506.16
MXAP down 0.5% to 181.98
MXAPJ down 0.3% to 572.30
Nikkei down 1.0% to 39,894.54
Topix down 0.6% to 2,784.92
Hang Seng Index down 0.2% to 20,041.42
Shanghai Composite up 0.2% to 3,407.33
Sensex down 0.6% to 78,199.73
Australia S&P/ASX 200 down 0.3% to 8,235.01
Kospi down 0.2% to 2,399.49
German 10Y yield little changed at 2.39%
Euro little changed at $1.0419
Brent Futures little changed at $74.24/bbl
Gold spot down 0.2% to $2,617.23
US Dollar Index little changed at 108.05
Top Overnight News
Tributes poured in for Jimmy Carter, who died at age 100. Joe Biden eulogized him as “an extraordinary leader, statesman and humanitarian,” while Donald Trump said all Americans “owe him a debt of gratitude.” The 39th US president helped broker peace between Israel and Egypt during a single term marred by high inflation, an oil shortage and Iran’s holding of American hostages. Biden declared Jan. 9 a National Day of Mourning. It’s unclear whether markets will be closed.
Elon Musk’s growing political influence is eroding global resistance to his Starlink satellite network. Consumers are willing to overlook concerns about data security and privacy for access to reliable and fast internet. BBG
Treasury Sec Yellen warned Fri night that extraordinary measures to avoid breaching the debt ceiling will need to be taken between Jan 14 and Jan 23 (those measures should push the ceiling deadline to the spring). WaPo
Syria’s new de facto leader said it may take as long as four years to hold an election due to the difficulties involved in taking a census and drafting a constitution. FT
Nvidia is looking to robotics to drive its next leg of growth as competition rises in the core AI chip market (Nvidia believes the “ChatGPT moment for physical AI and robotics is around the corner”. FT
China’s central government is trying to curb a spate of detentions by local authorities of business executives that is fuelling anxiety among entrepreneurs and risks undercutting efforts to boost economic growth. FT
Spain’s CPI runs ahead of expectations for Dec, climbing 2.8% on an EU harmonized basis (up 40bp from +2.4% in Nov and 20bp above the consensus forecast of 2.6%). WSJ
South Korean investigators are focusing on a bird strike and unusual landing-gear failure in the crash of a Jeju Air Boeing 737-800 that killed 179 people. Another Jeju aircraft suffered a landing-gear malfunction today but returned safely. Boeing shares fell premarket. BBG
US energy production won’t rise rapidly in the coming years despite what Trump desires, for 2 main reasons: shale fields are aging (and thus a lot less productive than before) and they’re now mostly controlled by large oil companies (which are extremely disciplined on spending and output). WSJ
2B) EUROPEAN REPORT
2C ASIAN REPORT
3B NORTH KOREA/SOUTH KOREA
end
3C JAPAN
end
3D. CHINA/
END
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
EUROPE/USA
Trump’s tariffs threaten hugely Europe’s already faltering auto industry
(zerohedge)
Trump’s Tariff Threats Cast Shadow Over European Auto Industry
Trump’s proposed tariffs on Chinese, Canadian, and Mexican goods could trigger trade wars and severely impact European automakers.
Central and Eastern European countries that rely heavily on car manufacturing would be particularly hard hit by these tariffs.
The German auto industry, Europe’s largest exporter of passenger cars to the United States, is also highly vulnerable to Trump’s tariff threats.
As Donald Trump prepares to take office on January 20, Europe’s already battered car industry is bracing for additional headwinds amid the threat of new tariffs from the incoming U.S. president.
Trump has pledged to impose steep new tariffs on goods coming from China, Canada, and Mexico in one of his first acts in office, a promise that could ignite trade wars.
That is bad news for European automakers who have already seen sales and manufacturing decline in top markets like the United States and China.
The potential tariffs would be felt hard not only by leading European car brands like Volkswagen, Volvo, and Stellantis — the conglomerate that produces Fiat, Chrysler, and Citroen — but also for the Central and Eastern European countries whose economies rely heavily on making them.
Toma Savic, a former director at Zastava, a Serbian international car manufacturer that was shuttered in 2008, said the tariffs would be a particularly hard blow for operations in the Balkan country.
“This inevitably would lead to the shrinking of production in Europe and mass layoffs,” he said.
Zastava later became Fiat Chrysler Automobiles Serbia, which is owned by Stellantis.
Based in Kragujevac in central Serbia, Fiat Chrysler Automobiles Serbia has already been struggling to recuperate its foothold in the European auto industry prior to the breakup of Yugoslavia in the early 1990s when it assembled 200,000 cars annually and exported them to 26 countries.
Germany’s auto industry is also likely to be highly vulnerable to Trump’s promised tariffs, especially given that Europe’s biggest economy is by far the region’s largest exporter of passenger cars to the United States.
European and American carmakers could lose up to 17 percent of their combined annual core profits if the United States imposes import tariffs on Europe, Mexico, and Canada, according to some estimates.
Trump’s Tariff Vision
While Europe was not specifically mentioned in Trump’s first tariff announcement in late November, he took aim at the European Union while on the campaign trail earlier this year and accused European partners of unfair trade practices and stealing American manufacturing jobs.
“They don’t take our cars, they don’t take our farm products, don’t take anything,” Trump said on the campaign trail in October. “They are going to have to pay a big price.”
The U.S. market is the main destination for European passenger cars. Exports amounted to 42.5 billion dollars in 2023, according to Statista, a German online platform that specializes in data gathering and visualization.
In comparison, the value of U.S. vehicles imported to the EU was around 7.8 billion dollars during the same period.
Trump said on the campaign trail in September that he wants German automakers to become “American car companies” and “build their plants here.”
He added that he was prepared to offer low taxes and energy costs to draw more companies to set up manufacturing inside the United States.
In 2016, German carmakers avoided 35 percent tariffs floated by Trump by investing in more production in the United States.
But Trump’s new proposed tariffs could make it more costly for European automakers to set up U.S.-based factories.
A Make Or Break Moment
The threat of new tariffs will add to already growing pressures facing the European auto industry as it looks to compete for the future electric vehicle (EV) market that is dominated by Chinese manufacturers.
Earlier this year, the EU imposed duties of up to 35 percent for EVs from China saying that the “unfairly subsidized” cars have given them a market foothold.
Added to this, car sales for EVs across the EU have dipped downward and some governments have repealed subsidies meant to incentivize consumers to buy the cars.
The rise of Chinese companies, such as EV-leader BYD, has also seen Western car brands lose market share inside China at a steady rate, with Volkswagen in particular grappling with declining sales.
Between tougher competition from China, declining sales at home, and new pressure from Trump, many European automakers are facing a bleak outlook.
Back in Kragujevac, Fiat Chrysler Automobiles Serbia is grappling with weak demand, including several fully electric products delayed entirely or produced at tumbling rates.
Jugoslav Ristic, a long-time union official in the car industry in Serbia, said the setbacks are a result of “customs wars and unfavorable business conditions.”
There is also concern that the industry could be further hit by a trade spat if Brussels responds to possible U.S. tariffs. Such an event could increase costs for consumers in both the United States and Europe and particularly hit Germany, the continent’s car behemoth.
The German Economic Institute predicts that if Trump imposes 20 percent tariffs on the EU it could cost the German economy up to 192.5 billion over four years.
Those costs would also have ripple effects in the parts of Central and Eastern Europe that are dependent on car manufacturing.
end
ROMANIA CANCELLED ELECTION
ROBERT H:
Arnaud Bertrand on X: “This is an absolutely bombshell: the story about the cancelled elections in Romania is even far more sinister than previously thought. A new report from investigative outlet https://t.co/b0c4sv4Xj3 (https://t.co/j2gt54H0F0) reveals that the TikTok campaign which was cited in the” / X This is really nuts!
Rocket sirens sounded in Jerusalem, the Dead Sea, the southern West Bank, and the southern Negev early Saturday morning.
The IDF announced that the sirens were activated following a launch from Yemen, and that a missile was intercepted by the IAF before it could cross into Israeli territory.
No casualties reported
Magen David Adom said that no casualties have been reported so far, and that only one person called emergency services suffering from anxiety.
Saturday’s attack comes after several days of late-night projectile launches from Yemen. Notably, one missile crashed into Jaffa last week, injuring approximately 16 people.
Earlier on Friday, reports circled that US and British planes conducted strikes in Sana’a, Yemen.
Israeli emergency services work at the scene of a missile strike that was launched from Yemen and landed in Jaffa, south of Tel Aviv, Israel, December 21, 2024. (credit: STOYAN NENOV/REUTERS)
US CENTCOM has not made any statement.
This is a developing story.
END
ISRAEL/USA/HOUTHIS//YEMEN/
Explosions heard in Sana’a, Yemen – report
US National Security Communications Adviser John Kirby said earlier on Friday, “US attacks against the Houthis will continue as long as their threat to ships and Israel persists.”
A view of the damaged control tower of Sanaa Airport, one day after Israeli airstrikes hit the airport, in Sanaa, Yemen, December 27, 2024.(photo credit: REUTERS/KHALED ABDULLAH)
Explosions were heard in Sana’a, Yemen, Saudi outlet Al-Hadath reported Friday evening.
The attack reportedly targeted a military compound in central Sana’a and the Sana’a International Airport in the north of the city. According to the report, there was another strike in the Al-Nadha neighborhood.
The explosions were so powerful that homes surrounding the targeted sites shook, Al-Hadath reported, citing sources.
It is unclear whether the United States or Britain struck the Iran-backed terror stronghold. The Israeli air force has clarified that the attack was not Israeli, and there are reports that suggest that the strikes were from the US, according to Maariv. Army Radio reported, citing reports in Yemen, that the attacks were attributed to the US and Britain.
White House national security spokesperson John Kirby answers a question during a press briefing at the White House in Washington, U.S., September 4, 2024. (credit: REUTERS/KEVIN LAMARQUE)
Kirby’s statement
US National Security Communications Adviser John Kirby said earlier on Friday, “I will not comment on Israeli operations in Yemen. The Houthis pose a real and tangible threat to the safety of people in Israel, and therefore, Israel has the right to defend itself.”
“US attacks against the Houthis will continue as long as their threat to ships and Israel persists.”
This is a developing story.
‘The distance is truly enormous’: Prof. Baram highlights key challenge in combat against Houthis
(JERUSALEMPOST)
Baram proposes strategic alternatives to using the Israeli air force to defeat the Houthis, including targeting maritime supply routes and dismantling piers.
By MAYA COHENDECEMBER 27, 2024 22:24
Yemen’s Houthi followers brandish weapons and chant slogans as they take part in a protest against the Israeli air strikes on Yemen on December 27, 2024, in Sana’a, Yemen.(photo credit: Mohammed Hamoud/Getty Images)
Israel’s recent strikes in Yemen present a complex strategic dilemma requiring renewed consideration, Prof. Amatzia Baram, professor emeritus of Middle East history and director of the Center for Iraq Studies at the University of Haifa, emphasized on Friday in an interview with Maariv.
“The distance is truly enormous, nearly 2,000 kilometers. This isn’t Tartus, Latakia, or Beirut—this is a completely different world,” Prof. Baram stressed.
According to Baram, the strike on Sana’a airport was “very effective,” particularly due to the damage to the control tower, which will complicate the landing of Iranian transport planes. However, he noted, “Planes can still land, but it will be very difficult, it will be problematic.”
Regarding the port of Hodeidah, Baram suggested a strategy similar to that used in the past. “The piers need to be dismantled, just as we did in 1973 at Syria’s ports.” However, he underscored the logistical challenge: “The distance—this isn’t Beirut; this is a different world.”
Baram proposed a strategic alternative that focuses on blocking maritime supply routes. “If Israel can sink any Iranian ship en route from Iran, somewhere along the way, it doesn’t matter where—even in the Indian Ocean or the Arabian Sea—that would be a very significant contribution, without needing to attack Iran itself,” Baram said.
Navy ships of Iran and Azerbaijan move during an exercise between Iran and Azerbaijan in the Caspian Sea, Iran, in this picture obtained on November 4, 2024. (credit: VIA REUTERS)
“If we manage to cut off their supply lines, they will simply stop—they’ll run out of ammunition. How long that will take, I don’t know, but that’s the way to do it. And the ideal scenario, of course, would be to convince the Americans and the British to join us in precisely these efforts. They are already there with their navies, the British fleet, the American fleet, stationed off Hodeidah. It’s easy for them; for us, it’s extremely difficult,” he added.
Baram refuted the claim that the Houthis operate independently of Iran. “The economy of northern Yemen today is built on Iran—entirely. Northern Yemen doesn’t have much, but what they do have comes from Iran. The weaponry used by the Houthis—all the missiles and UAVs, without exception—comes from Iran.”
Approach toward Yemen
Another significant point raised by Baram was the difference in approach toward Lebanon compared to Yemen. “In Lebanon, Israel treated Hezbollah like a cancer threatening the life of the living body. Regarding northern Yemen, the approach is that the entire state is the cancer—not the people, but the entire political organization.”
“Five hours of flight, round trip,” Baram said, emphasizing Israel’s challenge again. “The Houthis know this—they have missiles. Their missiles can reach us. We don’t have suitable missiles for this task. We only have the air force. A missile—you press a button, send it, and go to sleep. The missile will do the rest. The air force doesn’t work that way. It’s nearly three hours one way, three hours back.”
Baram proposed a long-term strategy based on population pressure. “When the broader population begins to feel that this involvement is costing them too much, they will start pressuring them.”
He noted that “not all residents of northern Yemen are Shi’ites. The Sunnis don’t want any part of this at all. About one-third of the population in northern Yemen is Sunni, and two-thirds are Shiite.”
Another issue Baram highlighted was the humanitarian issue. “Two years ago, the Biden administration removed the Houthis from the list of terrorist organizations because, if the Houthis were still on the list, it wouldn’t have been possible to send food and medical supplies to the residents of northern Yemen through them.”
In conclusion, while the current strikes in Yemen demonstrate a degree of effectiveness, the geographical distance and logistical challenges complicate sustained operations.
The proposed solution of blocking Iran’s maritime supply routes, combined with internal population pressure, may present a more effective long-term strategy while addressing the associated humanitarian challenges.
END
TIMES OF ISRAEL/HAMAS /ISRAEL (EARLY SATURDAY MORNING)
Sirens sound near Jerusalem following rocket fire from Gaza
IDF intercepts 2 long-range rockets launched from Gaza at Jerusalem area
Army carries out airstrikes as troops launch new raid in northern Gaza’s Beit Hanoun * Missile from Yemen downed overnight as sirens blare in Jerusalem area
Following the long-range rocket fire from Gaza, the military issues an urgent evacuation warning to civilians in the Strip’s far north, where the projectiles were launched from.
Col. Avichay Adraee, the IDF’s Arabic-language spokesman, publishes a map showing areas the military has previously called to evacuate.
“Urgent warning to all those who have not yet evacuated the area marked on the map, specifically the Beit Hanoun area. This area has been warned many times in the past. You must evacuate the area immediately and move south towards Salah a-Din road. Moving via another road exposes you to danger,” Adraee says.
The two long-range rockets were fired from Beit Hanoun, less than a day after the military launched a new offensive against Hamas there. The terror group has previously fired rockets from areas where the IDF advances in order to prevent the military from capturing them.
The IDF has operated in Beit Hanoun several times since the beginning of the war, though it has not managed to reach every last rocket in Hamas’s possession.
#عاجل ‼️ انذار عاجل إلى كل من لم يخلي بعد المنطقة المحددة في الخريطة ومنطقة بيت حانون بالتحديد 🔴لقد تم تحذير هذه المنطقة مرات عديدة في الماضي 🔴يعمل جيش الدفاع في هذه المنطقة بقوة. 🔴عليكم اخلاء المنطقة فورًا والانتقال جنوبًا نحو طريق صلاح الدين. الانتقال عبر طريق آخر يعرضكم… pic.twitter.com/UVgcMH8R9Z
IDF Arabic Spokesperson Col. Avichai Adraee issues an urgent evacuation warning to areas in the northern Gaza Strip, December 28, 2024.(photo credit: IDF SPOKESPERSON’S UNIT, SCREENSHOT/X)
IDF Arabic Spokesperson Col. Avichay Adraee issued an urgent evacuation warning for Gazans in the northern Gaza area, particularly Beit Hanoun, on X/Twitter on Saturday.
#عاجل ‼️ انذار عاجل إلى كل من لم يخلي بعد المنطقة المحددة في الخريطة ومنطقة بيت حانون بالتحديد 🔴لقد تم تحذير هذه المنطقة مرات عديدة في الماضي 🔴يعمل جيش الدفاع في هذه المنطقة بقوة. 🔴عليكم اخلاء المنطقة فورًا والانتقال جنوبًا نحو طريق صلاح الدين. الانتقال عبر طريق آخر يعرضكم… pic.twitter.com/UVgcMH8R9Z
The evacuation warning comes shortly after two rockets from the strip activated sirens in the Jerusalem and Shfela areas.
According to the IDF, two rockets were launched from Beit Hanoun in the Gaza Strip towards Jerusalem before being successfully intercepted by the IAF.
Rockets in Gaza border communities
Earlier on Saturday, additional rockets from the strip activated sirens in the Gaza border communities of Mefalsim and Nir Am in southern Israel.
According to Magen David Adom (MDA) no injuries were reported as a result of either rocket attack.
This is a developing story.
END
ISRAEL HOUTHIS LATE FRIDAY NIGHT/BRITAIN/USA
END
ISRAEL/
end
ISRAEL HAMAS
IDF’s Nahal Brigade concludes in Rafah, begins Beit Hanoun operations
Before the operations began, the Israeli air force and IDF artillery units reportedly struck terror targets in the area, including a terrorist meeting point.
After concluding its activities in Rafah last week, the IDF’s Nahal Brigade began operations against terror targets in Beit Hanoun, in northern Gaza, following intelligence regarding the presence of terrorist infrastructure and operatives in the area, the military stated on Saturday morning.
Before the operations began, the Israeli air force and IDF artillery units reportedly struck terror targets in the area, including a terrorist meeting point.
The IDF confirmed that troops were enabling civilians to evacuate the area through designated routes – ensuring they could safely remove themselves from the combat zone.
The military added that the 4th Brigade would continue the Nahal Brigade’s operations in Rafah.
The IDF begins operations in Beit Hanoun, in the northern Gaza on September 28, 2024. (credit: IDF SPOKESPERSON’S UNIT)
IDF activity in northern Gaza
On Friday, the military reported that soldiers from the 401st Brigade, under the command of the 162nd Division, began operations in the area of the Kamal Adwan Hospital. The hospital is in Beit Lahiya, a city in northern Gaza just West of Beit Hanoun.
The Kamal Adwan Hospital has served as a Hamas stronghold in northern Gaza, the IDF claimed, noting Hamas’s presence in the institution since the onset of the war. Hamas’s hold on the hospital has previously been reported on by the IDF, which published footage in October 2024 of a staff member at the hospital confirming, “Hamas military operatives are present; they are in the courtyards, at the gates of the buildings, in the offices of Kamal Adwan Hospital. They operate ambulances to transport their wounded military operatives, and to transport them for their missions, and this is instead of using the ambulances for the benefit of civilians.”
Last month, terrorists detonated an explosive device near a humanitarian convoy evacuating civilians from the hospital grounds. While no medical staff or patients aboard the convoy were wounded in the attack, the IDF reported that six children at the hospital were harmed by the explosion and the hospital building was damaged.
END
HAMAS/ISRAEL
(JERUSALEM POST)
240 ARRESTS in a raid on the hospital in Gaza. FRIDAY NIGHT
(JERUSALEM POST AND THEN COMMENTARY FROM TIMES OF ISRAEL)
WATCH: IDF, Shin Bet arrest over 200 terror suspects in raid of Kamal Adwan Hospital in Gaza
IDF raid, evacuate patients from Hamas stronghold in Kamal Adwan Hospital
IDF issues evacuation orders in northern Gaza • Rockets from Gaza activate sirens in Jerusalem, Shfela areas
IDF conducted precise activities inside the hospital, confiscating weapons in the area, including grenades, guns, munitions, and military equipment.
By REUTERSDECEMBER 28, 2024 09:54Updated: DECEMBER 28, 2024 19:04
The IDF, in coordination with the Shin Bet (Israel Security Agency), arrested over 240 terrorists in a targeted operation against Hamas terror infrastructure embedded within the Kamal Adwan Hospital in Jabaliya, northern Gaza, the military announced on Friday.
The operation followed intelligence indicating that the hospital was being exploited as a command center by terrorists.
Ahead of the operation, the IDF facilitated the evacuation of 350 patients, caregivers, and medical personnel from the hospital in recent weeks, working closely with COGAT. During this period, tens of thousands of liters of fuel, food, and medical supplies were delivered to ensure the facility’s essential functioning, the IDF said.
On the day of the operation, an additional 95 patients and staff members were relocated to the Indonesian Hospital with the assistance of local health authorities. The IDF also provided 5,000 liters of fuel, two generators, and medical equipment to maintain critical systems at the Indonesian Hospital. Hundreds of civilians were evacuated through defined safety routes.
Generators provided by the IDF with the assistance of COGAT used for providing medical services for patients transferred from the Kamal Adwan Hospital, December 28, 2024. (credit: IDF SPOKESPERSON’S UNIT)
The IDF’s 401st Brigade encircled the hospital, apprehended terrorists in the vicinity, and eliminated those who resisted arrest and threatened the troops.
Within the hospital, Shayetet 13 special forces discovered and confiscated an arsenal of weapons, including grenades, firearms, and other military equipment. During the operation, terrorists attempted to launch anti-tank missiles and RPG attacks but were eliminated by the soldiers. The Israeli Air Force also eliminated terrorists attempting to flee the area.
Hamas weapons and explosives discovered in the Kamal Adwan Hospital in the Gaza Strip, December 28, 2024. (credit: IDF SPOKESPERSON’S UNIT)
No IDF casualties were reported during the mission.
Hundreds of terror suspects arrested
In total, the IDF apprehended over 240 individuals suspected of involvement in terrorist activities, some of whom tried to disguise themselves as patients or escape using ambulances. Among those detained was the hospital’s director, suspected of being a Hamas operative, along with other key Hamas and Islamic Jihad figures, including 15 individuals linked to the October 7 massacre.
Testimonies collected by Unit 504 and the ISA revealed that many detainees participated in terrorist operations in the area.
The IDF reiterated its commitment to adhering to international law regarding medical facilities, even when such facilities are exploited by Hamas for military purposes.
The Hamas-run Gaza Health Ministry announced just a few hours earlier that the hospital’s director, Hussam Abu Safiya, was arrested by the IDF during the raid, which it claims took place on Friday.
The raid on the hospital, one of three medical facilities on the northern edge of Gaza, put the last major health facility in north Gaza out of service, the World Health Organisation (WHO) said in a post on X on Friday,
Hamas claims that the Indonesian Hospital, where the IDF transferred fuel, as well as medical personnel and supplies, isn’t in service.
Weapons the IDF says troops seized during operations at northern Gaza’s Kamal Adwan hospital and the surrounding area, in a handout photo issued on December 28, 2024. (Israel Defense Forces)
The Israeli military says it has completed its operation against Hamas at northern Gaza’s Kamal Adwan Hospital and the surrounding area, during which some 240 suspected terror operatives were detained, including the medical center’s director and 15 terrorists who participated in the October 7, 2023, onslaught.
The IDF said it had intelligence of the hospital “returning to being used as a Hamas terror stronghold and a shelter for terrorists, despite repeated calls to refrain from allowing [terror operatives] to exploit hospitals for military activities.”
The operation was led by the IDF’s 162nd Division with several units.
At the start of the raid, the IDF says troops of the 401st Armored Brigade surrounded the hospital, detained several members of terror groups, and killed additional gunmen.
Members of the Navy’s Shayetet 13 commando unit then carried out “precise activities” inside the hospital, during which they located and captured weapons, including grenades, handguns, ammunition, and other military equipment, according to the IDF.
The Navy’s Shayetet 13 commando unit operates at northern Gaza’s Kamal Adwan hospital, in a video released by the IDF on December 28, 2024. (Israel Defense Forces)
Timesofisrael.com/liveblog-december-28-2024/
Over 240 members of Hamas, the Palestinian Islamic Jihad, and others suspected of being members of terror groups were detained amid the operation, the military says.
The IDF says some of the terror operatives “tried to impersonate patients and medical staff and some tried to escape in ambulances.”
Among those detained is the director of Kamal Adwan, Hussam Abu Safiya, who the IDF says is suspected of being a Hamas operative.
At least 15 of those arrested at the hospital area participated in the October 7 onslaught, according to the military. Several members of Hamas’s engineering and anti-tank forces were also arrested in the operation.
The suspects were questioned by field interrogators from the Military Intelligence Directorate’s Unit 504 and the Shin Bet security agency. The IDF says that many of them admitted to the interrogators that they participated in “terror activity” in the hospital area.
During the operation, the military says operatives launched RPGs and anti-tank projectiles at troops from an area near the hospital and attempted other attacks.
There were no injuries among the Israeli forces, and the operatives behind the attacks were killed, the IDF says.
The IDF adds that a drone strike eliminated a cell of gunmen whose members tried to flee the area.
Before launching the operation, the IDF says it enabled the evacuation of 350 patients, caregivers, and medical personnel to other hospitals, in an effort coordinated by the Defense Ministry’s Coordinator of Government Activities in the Territories (COGAT).
Also during the weeks prior to the operation, “tens of thousands of liters of fuel, food, and medical supplies for the essential functioning of the hospital” were delivered to Kamal Adwan.
During the raid itself, the IDF says another 95 patients, caregivers, and medical personnel were evacuated from Kamal Adwan to the nearby Indonesian Hospital, where 5,000 liters of fuel, two generators, and medical equipment were delivered, “to maintain and operate essential systems in the hospital.”
Hundreds of Palestinian civilians also left the hospital area “via defined evacuation routes,” the military adds.
END
IDF reveals how Kamal Adwan Hospital raid dismantled Hamas’s hold of Jabalya
Watch: IDF reveals more details from inside the operation to take the Hamas stronghold in Kamal Adwan hospital.
The IDF said on Sunday that – if ordered – it will prolong keeping Jabalya cut-off from Gaza City.
While both Jabalya and Gaza City are broadly part of northern Gaza, Jabalya, along with Beit Hanun and Beit Lahiya, are part of the northernmost half of northern Gaza, which has been progressively emptied of most Palestinian terrorists and civilians alike since early October.
In early October, tens of thousands of Palestinians were evacuated to Gaza City and further South, while large numbers of Hamas terrorists were also killed.
The IDF then returned to smaller scale mopping up operations of smaller terror cells for much of the last two months, both due to global criticism and having exhausted the main Hamas areas to attack at the time,
However, on Friday, the IDF, in coordination with the Shin Bet (Israel Security Agency), broke this pattern by arresting over 240 terrorists in a targeted operation against Hamas’s latest attempt to reconstitute itself in northern Gaza, largely embedded within the Kamal Adwan Hospital in Jabalya.
IDF soldiers arrest terror suspects and evacuate patients from the Kamal Adwan Hospital in the Gaza Strip. (credit: IDF SPOKESPERSON’S UNIT)
In the weeks before the operation, the IDF had already started clearing improvised explosive devices in the vicinity of the hospital as well as for most of the pathways and potential escape routes to and from the hospital.
Moreover, the IDF engaged in between three to four targeted attacks of smaller Hamas cells near the hospital but was careful to avoid attacking the hospital itself.
IDF strategy
This was all part of an IDF strategy to lull the Hamas terrorists hiding in the hospital into a false sense of security.
When the IDF finally attacked on Friday, it needed only an hour to surround all routes to and from the hospital to lock down and block any Hamas terrorist escape attempts.
There was a short initial battle between Hamas terrorists and IDF soldiers, but all of those terrorists were quickly killed.
Two groups of terrorists also tried to escape in two different directions, but they were also killed by IDF forces, which had them surrounded.
Next, IDF officers called out the hospital director and explained to him the process for evacuating patients and detaining terrorists pretending to be patients.
Shortly after, hundreds of Palestinians emerged from the hospital into an isolated corridor where all persons could be checked. In the first ambulance of “patients,” the IDF found that 13 out of 21 passengers were uninjured and were terrorists pretending to be patients to try to flee arrest. They, and many others, were arrested one by one.
Gazan patients and civilians evacuate from the Kamal Adwan Hospital in the Gaza Strip after the IDF eliminates Hamas terrorists in the area. (credit: IDF SPOKESPERSON’S UNIT)
In addition, the IDF suggested that among those who were arrested, it was possible that new valuable intelligence regarding the remaining Israeli hostages may have been acquired, though, as always in such instances, the military cannot reveal any specific information.
Ahead of the operation, the IDF facilitated the evacuation of 350 patients, caregivers, and medical personnel from the hospital in recent weeks, working closely with COGAT. During this period, tens of thousands of liters of fuel, food, and medical supplies were delivered to ensure the facility’s essential functioning, the IDF said.
Gazan civilians evacuated from the Kamal Adwan Hospital after the IDF eliminated Hamas terrorists in the area. (credit: IDF SPOKESPERSON’S UNIT)
On the day of the operation, an additional 95 patients and staff members were relocated to the Indonesian Hospital with the assistance of local health authorities. The IDF also provided 5,000 liters of fuel, two generators, and medical equipment to maintain critical systems at the Indonesian Hospital. Hundreds of civilians were evacuated through defined safety routes.
The IDF’s 401st Brigade encircled the hospital, apprehended terrorists in the vicinity, and eliminated those who resisted arrest and threatened the troops.
Within the hospital, Shayetet 13 special forces discovered and confiscated an arsenal of weapons, including grenades, firearms, and other military equipment. During the operation, terrorists attempted to launch anti-tank missiles and RPG attacks but were eliminated by the soldiers. The Israeli Air Force also eliminated terrorists attempting to flee the area.
The IDF added that the arsenal of weapons in the hospital was smaller than in some other Hamas-run hospitals, as Hamas had adjusted to IDF hospital invasions and moved much of its weaponry to apartments across the street from the hospital. These weapons were also separately confiscated.
No IDF casualties were reported during the mission.
Hundreds of terror suspects arrested
In total, the IDF apprehended over 240 individuals suspected of involvement in terrorist activities, some of whom tried to disguise themselves as patients or escape using ambulances. Among those detained was the hospital’s director, suspected of being a Hamas operative, along with other key Hamas and Islamic Jihad figures, including 15 individuals linked to the October 7 massacre.
Testimonies collected by Unit 504 and the ISA revealed that many detainees participated in terrorist operations in the area.
The IDF reiterated its commitment to adhering to international law regarding medical facilities, even when such facilities are exploited by Hamas for military purposes.
The Hamas-run Gaza Health Ministry announced just a few hours earlier that the hospital’s director, Hussam Abu Safiya, was arrested by the IDF during the raid.
The raid on the hospital, one of three medical facilities on the northern edge of Gaza, put the last major health facility in northern Gaza out of service, the World Health Organisation (WHO) said in a post on X on Friday,
Hamas claims that the Indonesian Hospital, where the IDF transferred fuel, as well as medical personnel and supplies, isn’t in service.
Palestinians displaced from Beit Lahia, arrive in Jabalia in the northern Gaza Strip on December 4, 2024. (Omar AL-QATTAA / AFP)
The IDF has issued a fresh evacuation warning for civilians in a large area near the northern Gaza city of Jabalia following rocket fire into Israel.
“Terror organizations are again launching rockets from these areas that have been warned several times in the past,” Col. Avichay Adraee, the IDF’s Arabic-language spokesman says on X, attaching a map of the areas that are to be evacuated.
Civilians are urged to head for shelters in Gaza City before the IDF launches strikes on the area.
#عاجل ‼️ الى سكان قطاع غزة المتواجدين في المناطق المصنفة D1, D3 وجميع البلوكات من ضمنها (مناطق النصر ومدينة العودة وحي المرابطين) 🔴هذا تخدير مسبق قبل الهجوم! ⭕️تطلق المنظمات الإرهابية القذائف الصاروخية مرة أخرى من هذه المناطق والتي تم تحذيرها عدة مرات في الماضي. ⭕️من أجل أمنكم… pic.twitter.com/KdYQ4O3gDn
Five rockets were launched at Sderot an hour ago, marking the third day in a row of attacks from northern Gaza. Two were intercepted and three landed in open areas, according to authorities.
END
ISRAEL HAMAS
WATCH: Israeli Air Force strikes Gaza launcher, causing rocket to fire
The IAF struck a launcher containing a rocket that was ready to be fired, causing the rocket to be launched.
The Israeli Air Force on Saturday struck the rocket launchers in Gaza that were used to fire rockets at the Jerusalem, Yehuda, Western Negev, Lachish, HaShfela, and Yarkon areas of Israel earlier that day, the IDF stated on Sunday morning.
The IAF struck a launcher containing a rocket that was ready to be fired, causing the rocket to be launched. The military did not note how far or where the rocket subsequently traveled or if it caused damage within Israeli territory or Gaza.
On Saturday, the IDF intercepted two rockets fired from Gaza over Israeli airspace before they reached their destination. The military noted they had been fired from the Beit Hanoun area in northern Gaza, triggering rocket alarms across the country.
“The widespread alerts stemmed from concerns over interception debris,” military officials stated.
Expansion of Gaza operations
The strike in Gaza comes amid orders to expand IDF operations in the Strip. IDF Chief of Staff Lt.-Gen. Herzi Halevi told the army on Saturday to reallocate forces from other sectors.
A photo of the launch site that contained an additional rocket ready to be fired toward Israel. (credit: IDF SPOKESPERSON’S UNIT)
Israeli orders new evacuation in Beit Hanoun, residents say
The IDF had confirmed that troops were enabling civilians to evacuate the area through designated routes – ensuring they could safely remove themselves from the combat zone.
Later, residents of the Gazan city confirmed to Reuters that IDF troops ordered any remaining locals to evacuate.
Other IDF units, including armored corps and combat engineering forces, have been instructed in recent days to prepare for redeployment to Gaza.
This forms part of efforts to increase military pressure on Hamas amid hostage-ceasefire negotiations.
The Southern Command has also begun planning and conducting aerial operations as part of preparations for an expanded operation.
The IDF’s current efforts include operations by the 162nd Division in northern Gaza, the 99th Division in the Netzarim Corridor, and the Gaza Division in the buffer zone, the southern Gaza Strip, and along the Philadelphi Corridor.
Danielle Greyman-Kennard contributed to this report.
END
ISRAEL/HAMAS/JABALYA RAID/RESULTS
IDF eliminates 14 Hamas terrorists, including six who invaded Israel on October 7
The 162nd Division, guided by intelligence from the Intelligence Directorate, Shin Bet, and the Southern Command, spearheaded the targeted actions.
Names and photos of the terrorists eliminated by the 162nd Division, including six terrorists who participated in the October 7 Massacre(photo credit: IDF SPOKESPERSON’S UNIT)
The IDF and Shin Bet (Israel Security Agency) killed 14 Hamas terrorists, including six who took part in the October 7 massacre over the course of extensive operations in Jabalya, Gaza, the military announced on Sunday.
In coordinated operations conducted by the IDF and ISA, several Hamas terrorists who participated in the October 7 massacre were neutralized in Jabalya and Beit Lahiya, Gaza. The 162nd Division, guided by intelligence from the Intelligence Directorate, Shin Bet, and the Southern Command, spearheaded the targeted actions.
On November 27, 2024, the Givati Brigade executed a precision raid in the Jabalya area. The operation eliminated Hamas terrorist Mohammed Abd al-Hamid Salah, who had infiltrated Israeli territory and actively participated in the October 7 massacre. Two additional Hamas commanders were also neutralized during the operation.
A day earlier, on November 26, 2024, the brigade carried out an intelligence-led strike in Jabalya. This operation resulted in the elimination of several key Hamas figures, including Rasem Judeh, a company commander in the Jabalya area, Zaher Abd Rabbo Mohammed Shahab, and Ali Magad Ali Ramadan, all of whom were involved in the October 7 attacks. Two additional Hamas commanders were also eliminated in the strike.
Additional names and photos of the terrorists eliminated by the 162nd Division, including six terrorists who participated in the October 7 Massacre. (credit: IDF SPOKESPERSON’S UNIT)
Months of operations
Approximately a month ago, the Kfir Brigade neutralized Mohammed Hamouda, another Hamas operative involved in the October 7 massacre. Alongside him, five additional Hamas terrorists were eliminated in the operation.
In the statement, the IDF and ISA reaffirm their unwavering commitment to targeting all individuals involved in the brutal October 7 massacre. These operations underline Israel’s determination to dismantle terrorist networks and safeguard its citizens.
end
ISRAEL/HAMAS/MONDAY
(JERUSALEMPOST)
IDF kills dozens of armed Hamas terrorists after having said Jabalya was nearly clear
According to the IDF, locating and killing Hamas forces was made possible by ongoing intelligence collection, operations to trick the forces into an ambush, and both tank fire and soldiers’ gunfire.
By YONAH JEREMY BOBDECEMBER 30, 2024 13:58Updated: DECEMBER 30, 2024 15:53
IDF operating in the Gaza Strip, November 3, 2024(photo credit: IDF SPOKESMAN’S UNIT)
The IDF said on Monday that it had killed dozens more of Hamas terrorists in Jabalya only a day after it said that the terror group was nearly cleared out of the northern Gaza area.
According to the military, locating and killing the Hamas forces was made possible by a mix of ongoing intelligence collection, operations to trick the forces into an ambush, and both tank fire and soldiers’ nearby gunfire.
To date, the IDF has invaded Jabalya in fall 2023, again in May of this year, and again in October of this year.
By December 2023, the IDF declared Jabalya under operational control and Hamas’s battalions broken.
After the May invasion, the IDF said it had destroyed 12 kilometers of Hamas tunnels and killed between 300-500 terrorists, leaving the area relatively clear of Hamas.
IDF soldiers arrest terror suspects and evacuate patients from the Kamal Adwan Hospital in the Gaza Strip. (credit: IDF SPOKESPERSON’S UNIT)
After several weeks of operations in Jabalya starting from this October, the IDF again said that most of the terrorists there were cleared.
That was until Friday and Sunday, when the IDF said that it had killed dozens more terrorists and arrested around 204 more terrorists.
At that point, the IDF again said that Jabalya was essentially cleared.
Progress against Hamas
However, Monday’s announcement of the IDF having killed dozens more Hamas forces, while a positive tactical sign for progress against Hamas, suggested that IDF intelligence is consistently wrong about how many Hamas forces remain in a given area like Jabalya.
Part of the reason for this could be the large number of Palestinian terrorists who fake being unarmed civilians most of the time.
Another reason could be that Hamas continues to successfully find new recruits among adolescent and minor Palestinians, who have very little to do with their time, and an unprecedented number of whom have had family and friends killed by the IDF during this war.
The IDF also believes and hopes that the recent rocket fire from northern Gaza has been Hamas rushing to clear out its last inventory of rockets from the area before the military bears down on them, but to date, the IDF has not been able to fully stop rocket fire from Gaza.
This failure to clear out all of the terrorists even out of one area of the northern half of northern Gaza (without even attempting to fully do so in all of northern Gaza or the rest of Gaza) could be one reason why IDF sources on Sunday were more forthright about admitting that – if ordered – it will prolong keeping Jabalya cut-off from Gaza City.
While both Jabalya and Gaza City are broadly part of northern Gaza, Jabalya, along with Beit Hanoun and Beit Lahiya, are part of the northernmost half of northern Gaza, which have been progressively emptied of most Palestinian terrorists and civilians alike since early October.
In early October, the IDF evacuated tens of thousands of Palestinians to Gaza City and further South, while large numbers of Hamas terrorists were also killed.
Both due to global criticism and having exhausted the main Hamas areas to attack at the time, the IDF then returned to smaller scale mopping up operations of smaller terror cells for much of the last two months.
All of this has come as there is an ongoing debate about whether Israel is implementing a plan known as “the General’s Plan,” proposed by a number of senior former IDF officials, to empty all of northern Gaza of Palestinians and cut it off completely as a pressure move against Hamas.
The Biden administration and European allies loudly opposed the plan and Israel has denied it adopted the plan, but in practice seems to have been half-implementing it in parts of northern Gaza, while allowing some Palestinian to remain in Gaza City.
However on Friday, the IDF, in coordination with the Shin Bet (Israel Security Agency), broke this pattern arresting over 240 terrorists in a targeted operation against Hamas’s latest attempt to reconstitute itself in northern gaza, largely embedded within the Kamal Adwan Hospital in Jabaliya.
END
ISRAEL/HAMAS/TIMES OF ISRAEL
(SAME STORY AS ABOVE/MONDAY)
The Israel Defense Forces said Monday that scores of terror operatives were killed overnight in ambushes led by the military’s 162nd Division in Jabalia, amid days of heavy operations in northern Gaza.
According to the IDF, troops spotted and killed “many dozens of terrorists” in Jabalia with gunfire and tank shelling.
The IDF said troops of the 401st Armored Brigade, Givati Infantry Brigade and the elite Multidomain Unit had been waiting in ambushes overnight, following intelligence on plans by operatives to flee the area.
“Many terrorist squads were eliminated in ambushes by the forces, after they were seen fleeing with weapons in their hands,” the military said, releasing footage showing armed operatives running.
The operation came after the IDF said Saturday that it had wrapped up an extensive raid that began early Friday at the Kamal Adwan hospital in Beit Lahiya, just outside Jabalia, in which it arrested hundreds of terror operatives.
The IDF has been operating in the Jabalia area since early October, facing relatively fierce resistance by remaining Hamas cells in the area, military sources said. The return of civilians to northern Gaza has been reportedly among the contested points in ongoing ceasefire-hostage release talks between Hamas and Israel.
Troops of the 162nd Division operate in northern Gaza’s Jabalia, in a handout photo issued by the IDF on December 29, 2024. (Israel Defense Forces)
The head of the World Health Organization called on Monday for the immediate release of Hussam Abu Safiya, the director of Kamal Adwan, who was being held by the IDF following its operation at the facility.
WHO also said that the IDF operation in Kamal Adwan in Beit Lahiya left northern Gaza’s last major health facility out of service and emptied of patients.
“Hospitals in Gaza have once again become battlegrounds and the health system is under severe threat,” WHO director-general Tedros Adhanom Ghebreyesus wrote on X. “Kamal Adwan Hospital in northern Gaza is out of service following the raid, forced patient and staff evacuation and the detention of its director. His whereabouts are unknown. We call for his immediate release.”
The IDF said Sunday that its forces had killed 19 Palestinian terror operatives and apprehended “240 terrorists” in the raid, calling it one of the largest operations it has conducted in the territory. The military also said it had detained Abu Safiya, suspecting him of being a Hamas terrorist. When asked if he had been transferred to Israeli territory for further questioning, the military did not offer an immediate comment.
Kamal Adwan Hospital was described by the IDF as “Hamas’s last bastion in Jabalia,” after hundreds of terror operatives allegedly used the medical facility as a shelter from Israeli strikes. According to the military, the operatives returned to Kamal Adwan after the IDF last operated in the medical center in late October.
The IDF said that of 940 Palestinians who passed through an army checkpoint outside the hospital, 240 were detained for being alleged members of terror groups. In all, some 600 civilians and another 95 patients, caregivers, and medical personnel were evacuated from Kamal Adwan.
There is no way to verify the military’s claims.
Suspected Palestinian terror operatives are detained by troops near northern Gaza’s Kamal Adwan Hospital, in a handout photo issued by the military on December 29, 2024. (Israel Defense Forces)
The military added that some of the terror operatives posed as medical staff and patients, and some tried to leave on stretchers and in ambulances. Of a first group of 21 patients leaving the hospital, the military said that 13 turned out to be suspected terror operatives.
Tedros said the patients in critical condition at Kamal Adwan had been moved to the Indonesian Hospital, “which is itself out of function.”
“Amid ongoing chaos in northern Gaza, WHO and partners today delivered basic medical and hygiene supplies, food and water to Indonesian Hospital and transferred 10 critical patients to Al-Shifa Hospital,” he said. “We urge Israel to ensure their health care needs and rights are upheld.”
Tedros said seven patients along with 15 caregivers and health workers remained at the “severely damaged” Indonesian Hospital, “which has no ability to provide care.”
“Al-Ahli Hospital and Al-Wafa Rehabilitation Hospital in Gaza City also faced attacks today and both are damaged,” Tedros added. “We repeat: stop attacks on hospitals. People in Gaza need access to health care. Humanitarians need access to provide health aid.”
Before launching the operation, the IDF said it enabled the evacuation of 350 patients, caregivers, and medical personnel to other hospitals, in an effort coordinated by the Defense Ministry’s Coordinator of Government Activities in the Territories (COGAT).
Israel’s ambassador to the United Nations issues what he calls a final warning to Yemen’s Iran-backed Houthis to halt their missile attacks on Israel, saying they otherwise risk the same “miserable fate” as Hamas, Hezbollah, and Syria’s Bashar al-Assad if they persist.
He also warns Tehran that Israel has the ability to strike any target in the Middle East, including in Iran, adding that Israel will not tolerate attacks by Iranian proxies.
“To the Houthis, perhaps you have not been paying attention to what has happened to the Middle East over the past year. Well, allow me to remind you what has happened to Hamas, to Hezbollah, to Assad, to all those who have attempted to destroy us. Let this be your final warning. This is not a threat. It is a promise. You will share the same miserable fate,” Ambassador Danny Danon tells the UN Security Council.
Speaking before the meeting, Danon told reporters: “Israel will defend its people. If 2,000 kilometers is not enough to separate our children from the terror, let me assure you, it will not be enough to protect their terror from our strengths.”
An infographic released by the IDF on December 30, 2024, shows where Hamas operatives planted roadside bombs near the Indonesian Hospital in Jabalia, northern Gaza Strip. (Israel Defense Forces)
The IDF releases footage obtained from cameras belonging to Hamas operatives, showing them planting roadside bombs next to the Indonesian Hospital in the northern Gaza Strip.
According to the IDF, the bombs were planted just 45 meters from the medical center in Jabalia.
The army says that during its military operation last week at the Indonesian Hospital, troops killed several terror operatives who tried to flee from the medical center. Dozens of members of terror groups were detained, and several explosive devices planted by them in the area were neutralized, the military says.
The video taken by the Hamas operatives, and later found by the IDF in Gaza, shows them planting explosive devices next to the hospital. The video is not dated.
“This is another example of the Hamas terror organization’s cynical use of the population and civilian institutions in the Gaza Strip for terror activity in blatant violation of international law,” the military adds.
This video released by the IDF on December 30, 2024, shows Hamas operatives planting explosive devices next to the Indonesian Hospital in the northern Gaza Strip. (Israel Defense Forces)
ISRAEL/WEST BANK/
another Palestinian Authority officer killed in clashes with Jenin terrorists
(JerusalemPost)
Another PA security services officer killed in clashes with Jenin terrorists
Another Palestinian Security Services officer was killed in the West Bank city of Jenin amid clashes between Palestinian Authority forces and terrorists, Arab media reported on Saturday, citing the PSS spokesperson.
The PSS spokesperson announced the death of another officer on Friday.
end
PIJ calls on PA to stop ‘security and media’ crackdown in Jenin
Palestinian Islamic Jihad said its fighters had been subjected to a fierce campaign of arrests, shootings, and attacks in a Saturday evening statement calling for a cessation of the Palestinian Authority’s ongoing security crackdown in Jenin.
PIJ claimed the crackdown “serves the Zionist occupation that incites strife, aiming to portray our Palestinian people as being in a state of internal fighting.”
“We demand that the Palestinian Authority immediately stop its security and media campaigns, lift the siege on Jenin camp, end the persecution of resistance fighters, and stop the abuse of citizens,” the statement continued.
The terror organization also lamented a “systematic media campaign aimed at distortion of its mission and denial of its honorable history.”
“This campaign has reached the level of personal attacks on our movement’s leaders and symbols,” PIJ continued.
END
ISRAEL//LEBANON
Israeli Army Moves Deeper Into Southern Lebanon Despite Ceasefire
Thursday marks the 30-day mark in the 60-day ceasefire between Lebanon and Israel. While plainly obvious that IDF military operations never really ceased, Israel is nowopenly talking about staying in Lebanon past the 60-day pullout deadline.
Wadi al-Hujeir is nearly five miles over the Blue Line, deeper than Israel’s invasion actually penetrated during the war that was supposed to end with last month’s ceasefire. The town also lies along the Litani River, beyond which Hezbollah was to remove its forces after the war.
But travel in occupied southern Lebanon is a difficult business, even 30 days into the ceasefire, as Israel seems to attack anything and everything trying to return to the towns and villages that were seized.
The roads around Wadi al-Hujeir have now been closed by Lebanese officials in an effort to keep the civilian population safely away from continuing Israeli incursions.
Multiple voices have expressed growing concern about Israel’s looming failure to withdraw from Lebanon and its continued firing on Lebanese territory despite the nominal ceasefire.
UNIFIL issued such a statement about the continuing damage Israel is causing in residential and agricultural areas, and on road networks throughout southern Lebanon.
Since the US was meant to be the guarantor of the ceasefire, it was expected that the US would say something about the hundreds of Israeli violations. So far, however, the US has not even broached the subject.
The US seems to consider the ceasefire announcement all it was prepared to do, and, in actuality, all it is likely ever to do.
Biden began his term in office by abandoning Afghanistan to the Taliban and allowing the creation of a new terrorist super state. He is finishing his time in the Oval Office by watching helplessly as a new Caliphate is formed in the rubble of what was once Syria. Divorced from reality as always, his hapless State Department now calls the jihadi ruler of Damascus Al-Jolani a “pragmatist” and talks mindlessly about accommodation and cooperation with mass murderers and rapists.
Meanwhile, inside Syria, the new Islamic rulers are losing no time in consolidating their rule and making clear their intentions. On 26 December, Al-Jolani appointed former Al-Qaeda commander and Nusra Front co-founder Anas Hassan Khattab as the head of the country’s general intelligence agency. Khattab was designated a “terrorist” by the United Nations a decade ago. According to the UN, he was involved “in the financing, planning, facilitating, preparing, or perpetrating of acts or activities by, in conjunction with, under the name of, on behalf of, or in support of” and “otherwise supporting acts or activities of” the Nusra Front. This Al-Qaeda offshoot was rebranded as Hayat Tahrir al-Sham (HTS) in 2017.
Those are the guys who now run Syria.
As the head of intelligence Khattab’s job will not be to prepare detailed analyses of foreign developments. He will be in charge of domestic security. His job will be to crush any dissent and guarantee Al-Jolani stays in power. He has already been performing that function in the areas that HTS has controlled for years, where torture and murder are common tactics used to stifle dissent.
Last week, Asaad Hassan al-Shibani, a founding member of Al-Qaeda in Syria, was appointed foreign minister for the new terrorist state being created in Syria.
Meanwhile, more information is becoming available on the composition of the jihadist forces that drove Assad from power. Contrary to press reports that want to characterize the ousting of Assad as some sort of liberal, democratic, populist movement, the reality appears to be that substantial numbers of fighters from outside of Syria are present on the ground. Just before Christmas, a video surfaced of a Christmas tree in a town in Syria being burned by Islamists. It now appears the terrorists who carried out this action were Uzbek fighters fighting with Al-Jolani’s forces.
“The exact number of Tajik, Uzbek, and Chinese Uyghur citizens present in Syria is unknown, but these individuals operate in three separate groups under the leadership of Hay’at Tahrir Al-Sham.”
“Tajik jihadis residing in Syria operate under an organization called Jaish Al-Jihad Imam Abu Hanifa. Members of this group refer to its flag and name as the central focus of their activities on their Telegram channels. Several Telegram channels affiliated with this organization are active, sharing jihadi messages and reports from the Syrian battlefield.”
“One of the Tajik jihadis in Syria, known as ‘Musafir Tactical’, produces videos on YouTube and Telegram to promote and recruit young Tajiks for the war. He also creates content teaching weapon usage, the operation of communication devices, the repair of automatic weapons, and guerrilla warfare tactics.”
“Another member of the group, known as Mohsen Tajiki, also has thousands of followers on social media. Since the start of Hay’at Tahrir Al-Sham’s offensive on Aleppo, he has been providing updates moment by moment on the advances toward villages and towns under the control of Bashar Al-Assad’s government.”
“The East Turkestan Islamic Party is one of the most active jihadi groups in Syria, and compared to other Central Asian-origin groups, it has more resources and manpower. This group is a Uyghur jihadi organization that has been active in the Syrian civil war since around 2012. Its stated goal is to establish an Islamic state in the Xinjiang region of China (East Turkestan) and it is aligned with various jihadi groups in Syria, including branches of Al-Qaeda.”
“Fighters from Uzbekistan and Kyrgyzstan are also present in Syria, having fought under the flag of Hay’at Tahrir Al-Sham during the attack on Aleppo, and are now on the front lines fighting to advance toward other cities in Syria. These Uzbek and Kyrgyz fighters operate within a group called Katibat Al-Tawhid wAl-Jihad, which was established in northern Syria in 2013.”
“In March 2022, the U.S. Department of State designated this group as a terrorist organization due to its terrorist activities and its connections with international terrorist organizations, including Al-Qaeda.”
None of this is consistent with the fiction that Syria is now controlled by individuals seeking a liberal democratic order and cooperation with the West. It is a picture of a nation that has fallen to radical Islamic forces and which will now in tandem with Afghanistan serve as a launching pad for attacks on the United States and its allies.
Already Al-Jolani’s boys are moving fast to consolidate power. They are demanding that all rival groups turn in their weapons and disarm. They are beginning to proscribe rules for women’s dress throughout the country. They are also advising that anyone who fears Islamic rule is simply misinformed. You will live under Sharia law and you will like it.
We spent twenty years fighting a war against Islamic terror. That war is not over. We simply stopped shooting back. In a matter of years, we have allowed the creation of two radical terrorist states from which attacks can be launched worldwide. The newest of those is in the heart of the Middle East.
Don’t look now. Al Qaida is winning. There is a brand new caliphate in Syria.
END
SYRIA
A terrorist is the new intelligence chief in Syria
(the cradle)
HTS Names UN-Designated Terrorist As Syria’s New Intelligence Chief
On Thursday, Syria’s de facto authorities appointed former Al-Qaeda commander and Nusra Front co-founder Anas Hassan Khattab as the head of the country’s general intelligence agency.
Khattab, also known as Abu Ahmed Hudood, was blacklisted as a “terrorist” by the UN Security Council in September 2014 for his close association with Al-Qaeda.
According to the listing, for several years, he was involved “in the financing, planning, facilitating, preparing, or perpetrating of acts or activities by, in conjunction with, under the name of, on behalf of, or in support of” and “otherwise supporting acts or activities of” the Nusra Front. This Al-Qaeda offshoot was rebranded as Hayat Tahrir al-Sham (HTS) in 2017.
Khattab served as the administrative emir of the Nusra Front as of early 2014 and was part of its shura council by mid-2013. He was also tasked with selecting personal bodyguards for HTS leader and Syria’s de facto ruler Abu Mohammad al-Julani, who dropped his nom de guerre earlier this month and now goes by his real name, Ahmad al-Sharaa.
In recent years, Khattab oversaw general security operations in Idlib. His involvement in intelligence gathering dates back to the period when HTS consolidated control over northern Syria with Turkish support; during this time, he managed surveillance of covert networks along the borders of HTS-controlled areas.
Syria’s new intel chief was sanctioned by the US Treasury Department in 2012 for his ties to Al-Qaeda.
Khattab is the latest HTS authority to be granted a top post in the so-called “transitional government” following the success of the Turkish and US-backed coup against the government of ousted Syrian president Bashar al-Assad.
Last week, the General Command of the Armed Opposition Factions appointed Asaad Hassan al-Shibani, a founding member of Al-Qaeda in Syria, as the new caretaker foreign minister. This was followed by the appointment of Murhaf Abu Qasra, a top HTS leader known by his assumed name Abu Hassan 600, as defense minister.
It must have been a tense meeting yesterday in Damascus between HTS chief Jolani and the head of Iraqi intelligence. Especially for the Iraqi delegation a hard pill to swallow as Jolani before his time in Syria was in Iraq with Zarqawi blowing up Iraqis. pic.twitter.com/mojl2jTmEd
As HTS continues to consolidate power with the full support of western nations, clashes have broken out in western Syria between the remnants of the Syrian Arab Army (SAA) and HTS-led extremists.
end
RUSSIA/FINLAND
Finnish Commandos Seize Russia-Linked Ship After Undersea Cable Cut
Friday, Dec 27, 2024 – 10:30 PM
Finland has seized the ship which is being accused of cutting of an undersea cable connecting electricity to Estonia, allegedly on behalf of Russia, given that the vessel was carrying Russian oil. Finnish authorities and Western officials have described the damage to the Estlink 2 electricity cable as the result of “aggravated criminal mischief”.
EU officials have characterized the incident as part of Russia’s hybrid warfare against NATO, with a European Commission statement describing the cable severing as “the latest in a series of suspected attacks on critical infrastructure.”
The vessel in question was observed traversing the same area where the cable damage occurred near in time to the incident. Four additional telecom cables were disrupted – one linking Finland and Germany and three between Finland and Estonia.
Finland’s coast guard boarded the suspect vessel on Thursday:
Finnish police said in a statement that the coastguard crew boarded an oil tanker in Finnish waters early on Thursday. Authorities named the vessel as the Eagle S, and said it was registered in the Cook Islands in the South Pacific.
When it was detained, the ship was sailing from Russia’s Saint Petersburg to Port Said in Egypt, according to online marine tracking website, MarineTraffic.
According to MarineTraffic, the ship was owned by United Arab Emirates-based vessel management company, Caravella.
The European Commission in its statement additionally accused the Eagle S ship of being part of Russia’s energy sanctions-busting ‘shadow fleet’.
“The suspected vessel is part of Russia’s shadow fleet, which threatens security and the environment, while funding Russia’s war budget,” it said. “We will propose further measures, including sanctions, to target this fleet.”
There are initial reports from European sources alleging the discovery of Russian intelligence-linked surveillance equipment found onboard the vessel:
“Hi-tech” Russian signals intelligence equipment was reportedly carried by the tanker Eagle S, currently in custody after reportedly cutting the Estlink-2 cable in the Baltic, per Lloyd’s List. “They were monitoring all Nato naval ships and aircraft,” Lloyd’s List was told.
Finnish Special Forces board and take over a ship in "Konflikti" miniseries.
Data from the ship-tracking website MarineTraffic shows the vessel slowed down at the time the 658 megawatt (MW) Estlink 2 power interconnector was disrupted. The tanker was transiting the Baltics on its way from St. Petersburg to Egypt at the time, on Christmas day.
MarineTraffic data also shows the Finnish Border Guard’s patrol vessel Turva escorted the tanker to waters off Porkkalaniemi, a peninsula on the Gulf of Finland, on Wednesday night, before it was boarded and seized by Coast Guard commandos the next day.
END
TURKEY
Turkey raises its minimum wage by 30% even though its inflation rate is 44%
When Turkish President Recep Tayyip Erdogan announced a 30 percent increase in the country’s minimum wage in 2025 via social media, more than 40,000 people flooded the comments – many of them critical of the announcement.
Starting next month, the minimum wage in the country will be 22,104 Turkish lira ($630.36), which amounts to a 30 percent increase. While supporters of the move argue that it represents the highest minimum wage in US dollar terms in recent years, critics note that it falls well below the annual inflation rate for 2024.
“We were screwed by the 44 percent [inflation], and now employers only have to pay us 30 percent?” one of those commenting under Erdogan’s post asked. “You’ve already condemned people to hunger and misery, and now you’re condemning them to death.”
Supporters claim the hike aligns with the government’s inflation target of 25 percent for 2025, suggesting it could help combat the country’s persistent inflation problem, which was partially triggered by the president’s historic unorthodox economic policies .
“Looking at my monthly expenses, even basic necessities like food and rent consume most of my salary,” said Meltem, an administrative assistant at a private university.
“This 30 percent increase won’t keep pace with the real inflation we experience in our daily lives.”
Rising rental costs underscore the inadequacies of the new minimum wage, especially since 42 percent of Turks earn just the minimum wage. In Istanbul, the average monthly rent is $709, while in Ankara, it’s $567 – both figures exceed or are close to the minimum wage.
“Minimum wage is, of course, insufficient, and more importantly, there’s a very high percentage of people living on it in Turkey,” explained Tolga, a banker. “When the increase is too low, it simultaneously drags so many people into poverty.”
The geographic disparity in living costs adds another layer of complexity to the issue. “The new minimum wage is very low for workers across Turkey, but I can’t imagine how much more difficult it will be for people living in larger cities,” said Eda, an office worker at a government student hostel (KYK).
‘Invalid’ decision
Workers unions have come out strong against the below inflation minimum wage rise. The Confederation of Turkish Trade Unions (Turk-Is) abstained from the final wage determination meeting, while the Confederation of Revolutionary Trade Unions (DISK) declared the decision “invalid”, criticising the rushed process and lack of worker representation.
The wage hike, which will impact approximately nine million workers, comes amid strict monetary and fiscal policies aimed at combating inflation. Although inflation has declined from its May peak of 75 percent, the central bank acknowledges that progress has been slower than expected.
Economist Ibrahim Turhan warned that the implications of minimum wage decisions extend beyond employee salaries. “Many of those working for minimum wage are employed in small family businesses and tradesmen businesses,” Turhan said.
While “increasing the minimum wage is not a difficult thing,” he cautioned that unrealistic jumps could “cause more harm than good” by fuelling further inflation.
A Reuters calculation suggested that even a 25 percent increase could force annual inflation up by between 1.5 to 5 percentage points. However, Turhan said that the new wage level should allow workers to “maintain the purchasing power they had in December 2024 in December 2025.”
On Thursday, Turkey’s Central Bank cut its benchmark interest rate from 50 percent to 47.5 percent. “A relatively modest wage increase lowered inflation expectations for next year and allowed the Central Bank to begin its rate-cut cycle,” said one senior Turkish official affiliated with the ruling party.
“It’s a breakthrough in the fight against inflation as well as an economic policy that ensures investor confidence in Turkish markets.”
When asked about the hardship Turkish citizens will endure with a wage hike below inflation, the official acknowledged their struggles. “We have to swallow the bitter pill,” he said, adding: “There is no other way around.”
end
RUSSIA/UKRAINE
crazy!! the Ukraine’s failing Kursk offensive may be in trouble as Russia amass troops near Sumy
(zerohedge)
Failing Kursk Offensive May Backfire On Ukraine As Russian Troops Mass Near Sumy
Monday, Dec 30, 2024 – 08:10 AM
The true purpose of Ukraine’s surprise offensive into the Russian agricultural region of Kursk has been hotly debated since it was launched in August. The complete failure of the 2023 “counter-offensive” led many to believe that Ukraine’s rumored troop shortages were far worse than initially reported. Some believed that the Kursk offensive was designed to allay fears among allies that Kyiv was no longer capable of taking ground from the Russians.
The invasion of Kursk was successful primarily because the area was weakly defended, and it was weakly defended because it has no strategic value. It’s a collection of farming towns with no industrial infrastructure, and the nearest vital site (a nuclear power plant) is too far away for the Ukrainians to reach. Almost every tactician not working for Ukraine has questioned the offensive, calling it potentially one of the greatest military blunders in modern history.
Why? Because Kursk has siphoned up some of Ukraine’s best troops and weaponry and increased the ground they have to defend with the limited forces they have available. In a war of attrition, the losing side must seek to shrink and strengthen their area of defense instead of spreading themselves thin. Ukraine did the opposite.
Vladimir Zelensky claims that Kursk was designed to lure large numbers of Russian troops away from the eastern front and stop their advance. If this is the case, then the effort was unsuccessful. Russian attacks increased in the period after the Kursk invasion and now Kremlin forces are in the process of taking at least three key cities which will cement their control of the Donbas.
Another theory is that Kursk was intended to convince NATO allies that Vladimir Putin’s “red lines” are meaningless and that Ukraine should be given access to long range missiles for striking deep into the heart of Russia. If that was the plan, then it has succeeded. The Biden Administration and NATO have given Zelensky the green light to use ATACMS and Storm Shadow missiles at will.
Another possible advantage for Ukraine in the “red line” narrative is that it could be used to convince NATO countries to deploy troops to the region, thus triggering WWIII. This is, at bottom, the only hope Ukraine has to push Russia back – A massive influx of western troops and hardware. But at the same time the risk of a wider war with nuclear implications grows exponentially. There are plenty of people in Ukraine, elites in globalist think tanks and officials in NATO that have no problem with that.
The problem with Kursk is that Ukraine needs to hold it until they can get the response they want from the west, but Russia appears to be poised to take the ground back. And, if these reports are accurate, then maintaining a presence in Kursk may have backfired on Ukraine.
Precise numbers on casualties from either side of the conflict are not to be trusted, but there has been a sudden surge of activity by Russian troops with steady gains, pushing Ukraine towards the border with Sumy. Ukrainian soldiers say they were not prepared for the aggressive Russian response in Kursk and cannot counterattack or pull back.
“There’s no other option,” said one drone unit commander. “We’ll fight here because if we just pull back to our borders, they won’t stop; they’ll keep advancing.”
“We have, as they say, hit a hornet’s nest,” said a major in the 95th Airborne Assault Brigade. “We have stirred up another hot spot.”
Claims of thousands of North Korean troops in Kursk abound in the establishment media, but proof of these troops is thin and questionable. So far, there has not been hard evidence of a single NK soldier captured by Ukraine. Even if these troops are so disciplined that they are ready to commit suicide rather than be taken alive, with “thousands” of them in the field at least a few should have been captured by now. The most likely explanation is that some NK troops are in Kursk, but nowhere near the amount claimed by Ukraine.
Furthermore, front line battle map project Deep State has come under threat from the Ukrainian military and their operations have been shut down, or at the very least they have come under intense scrutiny. Deep State has in the past operated in a way that seems to hide data in favor of the Ukrainian government, but in most cases their maps have proven to be relatively accurate. The fact that military officials have taken action to silence the project suggests that Ukraine is losing badly and wants to hide the details as much as possible.
If Kursk is about to be retaken and Ukraine retreats, then this leaves the door open for Russian forces now amassed near Sumy to mobilize down into Ukraine from the North. In tandem with the expanding attacks in the east, Ukraine could be cut in half.
end
RUSSIA/USA
Russia not happy with Trump’s proposal on ending the war with Ukraine. He should stipulate that Ukraine will never enter NATO
(zerohedge)
Russia Is ‘Not Satisfied’ With Trump Proposals To End Ukraine War
Russian Foreign Minister Sergey Lavrov said Sunday that Moscow was “not satisfied” with reported proposals being discussed by President-elect Donald Trump and his transition team to end the war in Ukraine.
Recent media reports have said Trump’s team proposed the idea of Ukraine pledging not to join NATO for at least 20 years as part of a potential peace deal. Another report said Trump wants European troops to deploy to Ukraine to monitor a future ceasefire.
“Judging by numerous leaks and Donald Trump’s own interview with Time magazine on December 12, he is talking about ‘freezing’ hostilities along the line of engagement and transferring further responsibility for confronting Russia to the Europeans,” Lavrov said, according to the Russian news agency TASS.
“We are certainly not satisfied with the proposals made by representatives of the president-elect’s team to postpone Ukraine’s membership in NATO for 20 years and to deploy a peacekeeping contingent of ‘UK and European forces’ in Ukraine,” Lavrov added.
Trump campaigned on ending the proxy war in Ukraine, but it’s still unclear how he intends to do that. The Financial Times recently reported that Trump assured NATO countries that US military aid would continue to flow to Ukraine after his inauguration.
“In a boost for allies deeply concerned over their ability to support and protect Ukraine without Washington’s backing, Trump now intends to maintain US military supplies to Kyiv after his inauguration,” FT reported.
Lavrov said that Russia has not received any official offers from the US and noted that official US policy is still being steered by the Biden administration.
“Until January 20 — the date of inauguration — Donald Trump has the status of ‘president-elect,’ and all policy on all fronts is determined by the incumbent president and his administration,” he said.
END
UKRAINE/USA/MUSK/RUSSIA
“Game-Changer”: Musk’s Starlink To Roll Out Direct-To-Cell Across Ukraine
Monday, Dec 30, 2024 – 11:05 AM
Ukraine’s largest mobile operator, Kyivstar, has signed an agreement with Elon Musk’s Starlink to provide direct-to-cell satellite connectivity across the war-torn country. The new deal brings mobile coverage to areas where traditional ground-based cellular networks are non-existent due to Russia’s relentless targeting of critical infrastructure through drone and missile attacks.
Starlink’s direct-to-cell technology is currently being limitedly rolled out in several countries worldwide. The agreement with Kyivstar will position Ukraine as one of the first countries to implement a nationwide rollout of direct-to-cell connectivity, starting in the fourth quarter of 2025. This will allow users to send SMS and use OTT messaging services in areas without traditional ground-based network coverage.
“While this is a great solution for locations with no cellular connectivity, it is not meaningfully competitive with existing terrestrial cellular networks,” Musk has previously stated on X.
Ukrainian infrastructure, including telecommunications networks, power grids, and other critical networks, have been regularly attacked by Russian forces. Portable Starlink terminals have been crucial in Ukraine’s war effort for military operations over the last few years.
Kyivstar CEO Oleksandr Komarov stated, “Kyivstar has been the backbone of Ukraine’s resilience throughout the war, and we are committed to leaving no stone unturned to keep Ukraine connected.”
“Our collaboration with Starlink is a game-changer in our journey towards achieving our ‘LTE everywhere’ ambition,” Komarov said.
It’s like a cellphone tower in space…
Meanwhile, Starlink and T-Mobile are expected to launch commercial service in the US next year, aiming to cover 500,000 square miles of dead zones. Separately, AT&T has partnered with AST SpaceMobile, while Verizon has expressed interest in Amazon’s Project Kuiper.
Starlink is the leader in the direct-to-cell space.
SpaceX's @Starlink has now launched a total of 349 satellites with Direct to Cell (DTC) capabilities in less than a year.
AST SpaceMobile and Lynk have only launched 7 satellites each.
GlobalStar has dedicated only 24 satellites to Apple for its emergency satellite feature. pic.twitter.com/TNzRNVdUKR
We expect that the weaponization of federal agencies against Musk’s companies will diminish during Trump’s second term, enabling technologies like Starlink to flourish and drive technological innovation forward.
END
Total insanity: Eu supports Ukraine with billion of dollars and then Ukraine cuts off Russian natural gas flows to Slovakia et al. Then Slovakia threatens Ukraine by cutting off electricity and they complain?
(zerohedge)
Slovakia Demands EU Action To Head Off Russian Gas Transit Halt: ‘Irrational & Self-Destructive’
Monday, Dec 30, 2024 – 11:45 AM
Slovak Prime Minister Robert Fico has penned a formal letter to European Commission President Ursula von der Leyen, for the first time urging EU intervention in the looming halt of Russian gas transit through Ukraine by the Zelensky government.
He asserted that the EU’s acceptance of Kiev’s actions would be “entirely irrational and wrong” and ultimately hurt Europe itself. Fico last Friday raised the possibility that Slovakia could cut Ukraine’s electricity supplies as retribution (the country is a key foreign supplier).
“I believe that quietly accepting the Ukrainian president’s unilateral decision is entirely irrational and wrong, leading to tensions and reciprocal measures,” Fico said in the letter, subsequently cited in Bloomberg.
“It is in the interest of all EU citizens that European efforts to support Ukraine should be carried out rationally, and not in the form ofself-destructive and extremely damaging gestures,” he continued, warning that the Zelensky government’s decision will lead to “reciprocal measures”.
Fico spelled out further that Russia “will easily place such a small volume of gas in other markets” and so will be able to mitigate its losses.
Bloomberg has summarized the breakdown in numbers earlier presented by the Slovak PM as follows:
Fico, whose country is highly dependent on Russia for natural gas, estimated that European households and businesses could face an additional €40 billion to €50 billion ($42 billion to $52 billion) annually in higher gas prices and another €60 billion to €70 billion per year in extra electricity costs.
In contrast, Russia would lose about €2 billion annually if Ukraine halts transit, he said.
Fico this month controversially met with Putin in Moscow, at a moment Russian aerial forces have been pummeling Ukraine’s power grid this past week. Slovakia’s opposition have blasted Fico as a “traitor”.
Fico has lashed out several times in the last days: “But who cares about Slovakia, right, Mr. Zelenskyy? But when you need something to keep you from freezing in the winter, you scream in frustration,” Fico said of Ukraine’s leadership.
Zelensky responded Saturday by accusing Slovakia, which is a NATO and EU member state, of opening a “second energy front” against Ukraine on orders from Moscow.
"What fool would give us free gas?"
Slovak Prime Minister Fico spoke about Zelensky's unusual and stupid request. According to him, the Ukrainian leader offered him transit of Russian gas in exchange for Slovakia never paying Russia for gas until the end of the conflict.… pic.twitter.com/0YCtSO8sZm
“It appears that Putin gave Fico the order to open the second energy front against Ukraine at the expense of the Slovak people’s interests,” Zelensky wrote on X.
“Fico’s threats to cut off Ukraine’s emergency power supply this winter while Russia attacks our power plants and energy grid can only be explained by this,” he emphasized. He charged that Putin is “dragging Slovakia into Russia’s attempts to cause more suffering for Ukrainians.”RUSSIA/SLOVAKIA ET AL..
END
RUSSIA/UKRAINE/USA
IDIOTS
Biden Unveils $5.9BN In Military & Budget Aid To Ukraine As Pre-Trump Surge Continues
Monday, Dec 30, 2024 – 02:45 PM
America is a few short weeks away from seeing Trump inaugurated and entering the White House for the second time. Trump has been promising to rapidly negotiate a peace settlement in Ukraine, but lame-duck Biden has simultaneously pledged to rush as much defense aid to the Zelensky government as possible before leaving the White House.
President Biden has unveiled billions more for Kiev on Monday: “The United States on Monday announced nearly $6 billion in additional military and budget assistance for Ukraine as President Joe Biden uses his final weeks in office to surge aid to Kyiv before President-elect Donald Trump takes power.”
This includes $2.5 billion in defense assistance and an additional $3.4 billion in budget aid, amid ongoing Russian aerial attacks on Ukrainian infrastructure and especially the energy grid.
“At my direction, the United States will continue to work relentlessly to strengthen Ukraine’s position in this war over the remainder of my time in office,” Biden said in his statement announcing the aid.
Biden’s announcement includes $1.25 billion in military aid drawn from U.S. stockpiles and a $1.22 billion Ukraine Security Assistance Initiative (USAI) package, the final USAI package of Biden’s time in office.
Under USAI, military equipment is procured from the defense industry or partners, rather than drawn from American stocks, meaning it can take months or years to arrive on the battlefield.
President-elect Trump has indicated he doesn’t plan to immediately cut the aid to Ukraine, which is perhaps a negotiating tactic in preparation for future talks with Moscow over ending the war.
Last week saw sustained major Russian strikes involving drone and missile barrages targeting Ukraine’s energy infrastructure. This followed a Ukrainian drone strike on a Russian residential building in Kazan, which is far away from the front lines.
After this, by last week’s end, Biden had previewed, “In recent months, the United States has provided Ukraine with hundreds of air defense missiles, and more are on the way.”
He stressed: “I have directed the Department of Defense to continue its surge of weapons deliveries to Ukraine, and the United States will continue to work tirelessly to strengthen Ukraine’s position in its defense against Russian forces.”
Ukraine’s main problem along the front lines, where by all accounts its forces are being steadily beaten back, remains a severe manpower shortage.
This week, the Wall Street Journal released an alarming report on how the Biden administration may have suppressed dissenting views supporting the lab theory on the origin of the COVID-19 virus. Not only were the FBI and its top experts excluded from a critical briefing of President Biden, but government scientists were reportedly warned that they were “off the reservation” in supporting the lab theory.
The chilling suggestion is that, despite the virus ultimately killing more than 1.2 million Americans and over 7 million people worldwide, there was still an overriding interest in the administration to downplay the Chinese responsibility for the pandemic.
The Journal lays out how that unfolded, but the more disturbing question is why.
The article provides many examples of how dissenting views were marginalized and discouraged within the government. After President Trump described the virus as the “China virus” and alleged that it likely came from a lab, dismissing the lab theory became an article of faith in politics and academia.
The problem was that FBI researchers had concluded that the lab theory was the most credible explanation. But their lead researcher, Dr. Jason Bannan, was kept out of the key meeting, and their opposing research was discounted or ignored.
They were not alone. The Journal reported that Defense Department experts John Hardham, Robert Cutlip and Jean-Paul Chretien conducted a genomic analysis that found evidence of human manipulation of the virus. It also concluded that it was done using a specific technique developed by the Chinese at the Wuhan lab. They suggested that the Chinese appeared to have altered the “spike protein” that enables the virus to enter the human body in a “gain of function” operation.
They were reportedly told to stop sharing their work and warned that they had to effectively get with the team. Later, the three wrote an unclassified May 2020 paper that was prevented from being shown outside the medical intelligence center.
At the same time, letters and articles that dismissed the lab theory were organized for public consumption. The government worked with social media companies to censor those with opposing views.
Much of the media showed the same confirmation bias and intolerance. During the Trump presidency, many journalists used the rejection of the lab theory to paint Trump as a bigot. By the time Biden became president, not only were certain government officials heavily invested in the zoonotic or natural origin theory, but so were many in the media.
Reporters used opposition to the lab theory as another opportunity to pound their chests and signal their virtue.
MSNBC’s Nicolle Wallace mocked Trump and others for spreading one of his favorite “conspiracy theories.” MSNBC’s Kasie Hunt insisted that “we know it’s been debunked that this virus was manmade or modified,”
MSNBC’s Joy Reid also called the lab leak theory “debunked bunkum,” while CNN reporter Drew Griffin criticized spreading the “widely debunked” theory. CNN host Fareed Zakaria told viewers that “the far right has now found its own virus conspiracy theory” in the lab leak.
NBC News’s Janis Mackey Frayer described it as the “heart of conspiracy theories.”
The Washington Post was particularly dogmatic. When Sen. Tom Cotton (R-Ark) raised the theory, he was chastised for “repeat[ing] a fringe theory suggesting that the ongoing spread of a coronavirus is connected to research in the disease-ravaged epicenter of Wuhan, China.”
Likewise, after Sen. Ted Cruz (R-Texas) mentioned the lab theory, Post Fact Checker Glenn Kessler mocked him: “I fear @tedcruz missed the scientific animation in the video that shows how it is virtually impossible for this virus jump from the lab. Or the many interviews with actual scientists. We deal in facts, and viewers can judge for themselves.”
As these efforts failed and more information emerged supporting the lab theory, many media figures just looked at their shoes and shrugged. Others became more ardent. In 2021, New York Times science and health reporter Apoorva Mandavilli was still calling on reporters not to mention the “racist” lab theory.
In Kessler’s case, he wrote that the lab theory was “suddenly credible” as if it had sprung from the head of Zeus rather than having been supported for years by scientists, many of whom had been canceled and banned.
One fact, however, is already well established. The suppression of the lab theory and the targeting of dissenting scientists show the true cost of censorship and viewpoint intolerance.
The very figures claiming to battle “disinformation” were suppressing opposing views that have now been vindicated as credible. It was not only the lab theory. In my recent book, I discuss how signatories of the Great Barrington Declaration were fired or disciplined by their schools or associations for questioning COVID-19 policies.
Some experts questioned the efficacy of surgical masks, the scientific support for the six-foot rule and the necessity of shutting down schools. The government has now admitted that many of these objections were valid and that it did not have hard science to support some of the policies. While other allies in the West did not shut down their schools, we never had any substantive debate due to the efforts of this alliance of academic, media and government figures.
Not only did millions die from the pandemic, but the United States is still struggling with the educational and mental health consequences of shutting down all our public schools. That is the true cost of censorship when the government works with the media to stifle scientific debate and public disclosures.
Many still hope that Congress and the incoming Trump administration will conduct a long-needed investigation into the origins to allow for a more credible and open debate. That hope was increased by the nomination of Dr. Jay Bhattacharya, one of the organizers of the Great Barrington Declaration, to be the next head of the National Institutes of Health.
The suppression of the lab theory proves the ultimate fallacy of censorship. Throughout history, censorship has never succeeded. It has never stopped a single idea or a movement. It has a perfect failure rate. Ideas, like water, have a way of finding their way out in time.
Yet, as the last few years have shown, it does succeed in imposing costs on those with dissenting views. For years, figures like Bhattacharya (who was recently awarded the prestigious Intellectual Freedom Award by the American Academy of Sciences and Letters) were hounded and marginalized.
Others opposed Bhattacharya’s right to offer his scientific views, even under oath. For example, in one hearing, Rep. Raja Krishnamoorthi (D-Ill.) expressed disgust that Bhattacharya was even allowed to testify as “a purveyor of COVID-19 misinformation.”
One of the saddest aspects of this story is that many of these figures in government, academia and the media were not necessarily trying to shield China. Some were motivated by their investment in the narrative while others were drawn by the political and personal benefits that came from joining the mob against a minority of scientists.
We have paid too high a cost to simply shrug with the media and walk away. It is a question not only of whether China is responsible for millions of deaths but of whether our own government effectively helped conceal its culpability.
* * *
Cooking Oils Used By Millions Linked To Cancer In Second Study In A Week
Imagine if something as common as the oil in your kitchen could be silently contributing to cancer. For millions around the world, this unsettling possibility has moved from speculation to science. Two studies, released just days apart, have cast a harsh spotlight on widely used cooking oils, suggesting a troubling connection between their consumption and increased cancer risks, particularly in the colon.
These findings are not just scientific footnotes—they are alarms ringing in households globally, where seed oils like sunflower, soybean, and canola are staples in daily cooking. As scientists dive deeper into the health consequences of these oils, they’re uncovering a hidden cost to convenience and affordability. Are we sacrificing long-term health for short-term savings? And if so, how can we protect ourselves from this unseen risk?
What the Studies Reveal: Key Findings
In two groundbreaking studies released just days apart, researchers have spotlighted a concerning link between widely used cooking oils and cancer risks, specifically pointing to tumor growth in the colon and other organs. These studies raise critical questions about the health implications of seed oils, a staple in kitchens worldwide.
One study conducted at the University of California, Los Angeles, focused on the effects of certain oils on cancer progression. Dr. William Aronson, a professor of urology at UCLA School of Medicine who led the study, stated: “Our findings suggest that something as simple as adjusting your diet could potentially slow cancer growth and extend the time before more aggressive interventions are needed.” His team’s research suggests that dietary changes could be pivotal in managing the progression of diseases like prostate cancer.
Meanwhile, another study examined how the consumption of seed oils, such as sunflower and soybean oils, could increase levels of carcinogenic compounds in the body. These compounds, including polycyclic aromatic hydrocarbons (PAHs), are known to play a role in tumor development. The findings have sparked further investigation into the safety of these oils and their processing methods, especially when exposed to high heat during cooking.
Together, these studies provide a sobering glimpse into the risks associated with cooking oils that millions consider harmless. By focusing on the potential long-term impacts, the researchers aim to ignite a broader conversation about diet, lifestyle, and cancer prevention.
The Science Behind the Risk: How Cooking Oils Are Linked to Cancer
Cooking oils, often seen as innocuous kitchen essentials, may harbor hidden dangers that extend far beyond their caloric content. The scientific findings point to a troubling connection between these oils and the development of carcinogens during their use. Specifically, when oils like sunflower or soybean are heated, they release harmful compounds that have been linked to tumor growth.
One of the main culprits identified in the studies is the production of polycyclic aromatic hydrocarbons (PAHs) and aldehydes. These toxic substances are formed when oils undergo thermal decomposition, a process that occurs when they are heated to high temperatures. These compounds have long been recognized for their potential to damage DNA and trigger cellular mutations, laying the groundwork for cancer development.
Dr. William Aronson emphasized the importance of understanding how dietary choices influence cancer risks. As he explained, “This is an important step toward understanding how diet can potentially influence prostate cancer outcomes.” The research underscores the role of oxidative stress caused by these compounds, which not only fuels cancerous growths but also accelerates inflammation, a known precursor to various chronic diseases.
Moreover, the risks aren’t confined to occasional deep frying or high-heat cooking. Even regular, everyday use of these oils in common cooking practices—like stir-frying or sautéing—can release these hazardous substances, making the threat widespread and pervasive. Understanding these mechanisms helps shed light on why the seemingly harmless cooking oils in our homes may be contributing to a growing public health concern.
Seed Oils in the Spotlight: A Look at the Culprits
At the center of these alarming studies are seed oils, a category that includes widely consumed options like sunflower, soybean, canola, and corn oils. Praised for their affordability and versatility, these oils have become staples in households and commercial kitchens worldwide. However, their widespread use comes with potential health risks that many consumers are unaware of.
Seed oils are particularly problematic because they are rich in polyunsaturated fatty acids (PUFAs), which are unstable when exposed to heat. When these oils are subjected to high temperatures during frying or other cooking methods, they degrade, releasing harmful chemicals such as aldehydes and PAHs. These compounds have been directly linked to cancer and other chronic diseases in multiple studies.
Adding to the concern, seed oils are heavily refined and processed, often involving high heat and chemical solvents during production. This process not only strips the oils of any beneficial nutrients but also creates toxic byproducts even before the oils reach consumers.
The global reliance on these oils is driven largely by their low cost and long shelf life. Sunflower and soybean oils, for example, dominate cooking practices in both high-income and low-income regions due to their availability and affordability. Yet, as these studies reveal, the convenience of seed oils may come at a significant cost to long-term health.
This growing body of research is forcing a re-evaluation of seed oils’ place in the modern diet, with scientists urging caution and advocating for safer alternatives. The implications for public health are profound, as millions of people continue to rely on these oils in their daily cooking.
The Global Impact: Millions at Risk
The widespread use of seed oils places millions of people at potential risk, especially in regions where these oils dominate culinary practices due to their affordability and availability. Sunflower, soybean, and canola oils, among others, are often considered essential kitchen staples in low-income households and developing nations, making the health implications of these studies a global concern.
A key issue lies in the balance between cost and safety. For many, these oils represent an economical solution to everyday cooking needs, but their long-term health costs are largely invisible. The findings from recent studies underscore that what appears to be a budget-friendly choice may carry hidden dangers in the form of increased cancer risks. This is particularly troubling in communities that lack access to healthcare resources, where prevention through dietary changes becomes even more critical.
Additionally, the reliance on seed oils is not confined to individual households. They are heavily used in the food industry for frying, baking, and as key ingredients in processed foods. This amplifies exposure to the harmful compounds linked to these oils, as they are often consumed multiple times a day in various forms.
The public health implications are significant. If these findings continue to hold true, governments and health organizations may need to revisit guidelines on cooking oils and promote education about healthier alternatives. Raising awareness about the risks and encouraging safer cooking practices could save countless lives while fostering a much-needed shift toward more conscious dietary choices.
In a world where seed oils are deeply embedded in culinary traditions and food supply chains, the challenge lies in addressing this health threat without compromising affordability or accessibility. This makes the recent findings not just a wake-up call, but a critical step toward global dietary reform.
Expert Opinions: What Scientists and Doctors Are Saying
The recent findings linking cooking oils to cancer risks have sparked widespread concern among researchers and health professionals. Experts are emphasizing the need for awareness and further investigation into the compounds released during high-heat cooking with seed oils. These harmful byproducts, including aldehydes and polycyclic aromatic hydrocarbons (PAHs), have been directly tied to cellular damage and tumor development.
Researchers have also raised questions about the widespread reliance on highly processed seed oils in modern diets. The processing methods often involve high heat and chemical treatments, which can produce toxic residues even before the oils are used in cooking. This has led many health professionals to recommend exploring alternative oils with higher heat stability and lower risk profiles.
While not all experts agree on the immediate implications of these findings, there is consensus that diet plays a critical role in preventing chronic diseases, including cancer. Public health advocates are urging consumers to consider these findings when making everyday dietary choices, highlighting the need for further research to solidify these early conclusions.
By spotlighting the risks associated with widely used oils, these studies are a call to action for consumers, policymakers, and the food industry alike. The goal is not only to reduce exposure to potentially harmful substances but also to promote safer, healthier cooking practices on a global scale.
What You Can Do: Healthier Alternatives and Precautions
While the findings on seed oils are alarming, they also serve as an opportunity to take proactive steps toward healthier cooking practices. By making informed choices, consumers can minimize their exposure to potentially harmful compounds and reduce their risk of associated health issues.
Choose Safer Cooking Oils Replace seed oils like sunflower, soybean, and canola with alternatives that have higher heat stability and fewer harmful byproducts. Oils such as extra virgin olive oil, avocado oil, and coconut oil are better suited for cooking at higher temperatures and are less likely to produce toxic compounds. Additionally, cold-pressed oils are less processed, retaining more of their natural nutrients and antioxidants.
Modify Cooking Techniques The method of cooking can significantly impact the safety of oils. Opt for low-heat cooking methods such as steaming, baking, or slow cooking, which reduce the risk of forming carcinogenic compounds. Avoid deep frying or prolonged high-heat cooking, and ensure proper ventilation in the kitchen to minimize exposure to any airborne toxins.
Incorporate Fresh and Whole Foods Diversifying your diet with fresh fruits, vegetables, and whole grains can help offset the potential risks associated with oils. These foods are rich in antioxidants and nutrients that combat inflammation and oxidative stress, two key factors in cancer development.
Stay Informed and Read Labels Pay close attention to the labels on cooking oils. Look for minimally processed options and avoid products that list additives or chemical stabilizers. Awareness of how oils are processed and the conditions under which they are used can help you make safer choices.
Small changes, like swapping oils and tweaking cooking methods, can have a significant impact on long-term health. By taking these precautions, individuals can mitigate risks and empower themselves with healthier, more conscious dietary habits.
* * *
Butter, Ghee, Olive oil Not rockets science just use these.
“A troubling new study has exposed the “toxic effects” of administering repeated doses of Covid mRNA “vaccines.”
The researchers found that the injection caused severe damage that could cause a range of deadly diseases and trigger sudden death.
The study was conducted by leading South Korean researchers at the Seoul National University Hospital.
Led by professors Jae-Hun Ahn and Byeong-Cheol Kang, the team set up a preclinical laboratory-based study to evaluate the toxicological effects of Covid mRNA “vaccines.”
The researchers tested the vaccines in six-week-old mice, focusing on repeated dosing and administration routes.
The mice were administered the vaccines intramuscularly twice at two-week intervals or up to five doses.
The intervals sought to replicate the vaccine schedules for humans as advised by most government health officials.
The study found that “toxic effects” started to emerge two days after the second injection.
According gto the study, these toxic effects were recorded as reduced lymphocyte and reticulocyte counts, anemia-related changes, and elevated cardiac damage markers (troponin-I and NT-proBNP).
Histopathological analyses revealed inflammation and necrosis at injection sites, bone marrow suppression, thymic cortical atrophy, and spleen enlargement.
They noted that some of the effects had resolved by 14 days after the injection.
However, many of the toxic effects persisted.
The researchers noted spleen damage and injection site injury appeared to be impacted long-term, possibly permanently.
Repeated doses led to cumulative toxicity, and intravenous and intramuscular routes resulted in distinct toxicological profiles.
These findings highlight potential toxicological risks, emphasizing the need for careful consideration of administration routes and dosage regimens in vaccine safety assessments.
The researcher also note that “multiple side effects of mRNA vaccines have been reported, including myocarditis, thrombosis with thrombocytopenia syndrome, and Guillain–Barré syndrome (Bozkurt et al. 2021; García-Grimshaw et al. 2021; Hanson et al. 2022; Kadali et al. 2021; Sangli et al. 2021).
“Therefore, safety assessments for mRNA vaccines should differ from those for conventional drugs or vaccines.”
Published in Archives of Toxicology, the authors report:
“In summary, our investigation into the toxicological effects of four SARS-CoV-2 mRNA vaccine candidates revealed various toxicological changes.
“We also discovered that different administration routes lead to distinct toxicological phenotypes and that repeated doses can accumulate toxicity.
“Although the specific mechanisms behind each toxic change were not delineated, our study provides valuable insights that may assist in the development of new mRNA vaccines.
“We will further investigate the limitations of this study and toxicity mechanism regarding each phenotype (e.g., decrease in circulating blood cells, elevated cardiac damage markers, bone marrow suppression, thymic atrophy) via follow-up studies.”
The findings have emerged amid a wave of scientific evidence of harm caused by the “vaccines.”
As Slay News recently reported, a leading cardiologist has warned that over 100 million Americans may now have irreversible heart damage after receiving Covid mRNA “vaccines.”
According to Dr. Thomas Levy, Covid vaccines are causing heart injury in at least 2.8% of people who receive the injections.
A minimum of 7 million Americans who took the Covid vaccine in 2021 now have severely damaged hearts, according to Dr. Levy.
However, the top doctor said that number is now likely to reach over 100 million people.
Dr. Levy is a renowned cardiologist and an attorney-at-law who also serves as the contributing editor for the Orthomolecular Medicine News Service.
Levy told MIT computer scientist and vaccine data expert Steve Kirsch that the spike protein’s effect on the heart is even worse than previously thought.
In an article, Kirsch, the founder of the Vaccine Safety Research Foundation (VSRF), highlighted the heart damage in vaccinated pilots.
As Slay News has previously reported, soaring heart damage among pilots was recently revealed in a change to Federal Aviation Administration (FAA) guidelines.
“The cardiac harm of course is not limited to pilots,” Kirsch explained in his article.
“My best guess right now is that over 50 million Americans sustained some amount of heart damage from the shot.”
During a recent interview, both Levy and Kirsch agreed that over 100 million people may now have damaged hearts.”
Trump to Defund World Health Organization on Day OnePresident Donald Trump is reportedly planning to cut U.S. funding for the globalist World Health Organization (WHO) on the first day of his presidency when he’s sworn into power next month.READ MORE
Rumors Swirl: Indicted Henry Cuellar Allegedly Set to Flip Red Following Possible PardonRepresentative George Santos hinted at a major shift on Capitol Hill, suggesting that Democrat Henry Cuellar, who was recently indicted on serious charges, might switch parties following a potential presidential pardon.Santos hinted on Christmas Day, writing, “Who’s ready for some more tea on Capitol Hill? I have some interesting news coming your way tomorrow…”Who’s ready for some more tea on …READ THE FULL REPORT
Fox News’ Sean Hannity and Ainsley Earhardt Announce They Are EngagedFox News hosts Sean Hannity and Ainsley Earhardt have announced that they are engaged.Hannity proposed to Earhardt at their church over the Christmas holiday.“We are overjoyed and so thankful to our families for all of their love and support during this wonderful time in our lives,” Earhardt and Hannity said in a statement.The couple added that their children “couldn’t be …READ THE FULL REPORT
Christmas is remembering the night our savior was born!There is no ‘Merry Christmas’ without Christ Jesus, for there would be no true joy in the world at all were it not for the birth, life and death of our Savior. Some 2,000 years ago, in the long-ago silence of history, God the Son departed the indescribable in Heaven to live in the womb of a fifteen year-old virgin, …READ THE FULL REPORT
Mother of 6-Year-Old Injured in Crash Caused by Attempted Trump Assassin Shares Hopeful UpdateThe mother of a six-year-old girl named Mia, who was severely injured during a car accident apparently caused by alleged attempted Trump assassin Ryan Routh, says her daughter is awake and starting a rehabilitation program to “restart her brain.”Norka Pardo was in a vehicle with her daughter Mia Rosalie Monreal, her youngest son, and her boyfriend when they got into …READ THE FULL REPORT
High Levels of Radiation Detected Across the East Coast After Mysterious Drone SightingsRadiation levels have dramatically increased in New York City after the “mysterious” drone sightings were discovered hovering around the East Coast in recent weeks. The new revelations result in officials warning Americans to “prepare for the worst.”According to GQ Electronics’ Geiger Counter World Map, high emissions levels were detected near the Bronx and the Upper West Side of New York …READ THE FULL REPORT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK/
7.OIL AND NATURAL GAS ISSUES/GLOBAL
European Gas Prices Soar As Putin Says A New Ukraine Transit Deal Is Unlikely
Europe’s benchmark natural gas prices soared on Friday by the most in a week after Russian President Vladimir Putin said on Thursday that the chances of a new deal for Russian gas flows to Europe via Ukraine are low.
Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, jumped early on Friday in Amsterdam by as much as 5%, before giving up some of the gains by midday.
On Thursday, Putin said that there isn’t time for a new gas transit deal to be reached between Russia and Ukraine. The Russian president was quick to add that the lack of a deal was entirely Ukraine’s fault.
Ukraine has so far refused to extend the gas transit deal currently in place that would see gas transit continue uninterrupted to Austria, the Czech Republic, and Slovakia—a refusal that Putin says only hurts Europe.
The current gas transit deal began nearly five years ago and expires at the end of 2024, and if the deal does in fact expire without a new deal in place, it will indeed bring hardship to several European countries. According to Putin, the few days left in the year are not long enough to reach a new deal.
The volume of natural gas that flows from Russia through Ukraine and onto Europe via the current pipeline deal is about 15 billion cubic meters or less than 10% of the total volume Russia shipped to Europe pre-Russian invasion of Ukraine.
Last week, European Union leaders met in Brussels to discuss the issue of alternatives to Russian gas with Ukrainian President Volodymyr Zelensky.
Ukraine has emphatically stated that it would not discuss the idea of continued Russian gas transit with Russia.
Some consultations are being held – without Russia – Heorhii Tykhyi, a spokesperson for Ukraine’s Ministry of Foreign Affairs, told Bloomberg on Friday.
END
Robert H on the above;:
When you consider what has been occurring with Russian strikes it comes in to perspective when you understand that Ukraine is cancelling the transit of gas through Ukraine on January 1, 2025. Countries like Slovakia and Hungary rely on such cheap gas and will be impacted severely. But it gets better without electricity supply from these countries Ukraine cannot have enough power to restart their grid after a new strike. Meaning the country will go dark for a time. If you are wondering why? It is because Zelensky and Crew want no monitoring of the gas going into Ukraine so that they can score free gas which is sold internally. Slovakia and others pay for gas they take controlled by a monitoring station just like gas coming in from Russia is monitored. Clearly gas for Ukraine cannot be free and that has Zelensky up in arms over this. Just more thievery courtesy of the foolish gifting of money to this bunch. Because both EU and American taxpayers are paying for all the electricity Ukraine is forced to buy. And who said war is not a racket?
END
Zelensky Charges Slovakia’s Fico With Opening “Second Energy Front” At Moscow’s Bidding
by Tyler Durden
Sunday, Dec 29, 2024 – 08:45 AM
Slovakia has threatened to cut off electricity to Ukraine if the Russian gas transit route halts at the end of the year, as we detailed earlier. Slovakia is greatly dependent on Russian gas, and Ukraine is not expected to renew a major energy transit contract with Russian state suppliers.
With just a few days away from the start of the new year, Slovak Prime Minister Robert Fico escalated the standoff by saying he can leverage electricity supplies to Ukraine. “After Jan. 1, we will consider the situation and the possibility of reciprocal measures against Ukraine,” Fico said in a video released Friday.
“If it is unavoidable, we will stop the supply of electricity, which Ukraine urgently needs in the event of grid failures,” he said. The war of words and threats is ratcheting by the day.
Given that Fico just controversially met with Putin in Moscow, the electricity threat is going to add insult to injury at a moment Russian aerial forces have been pummeling Ukraine’s power grid this past week.
Fico lashed out in the most charged statement directed at Kiev to date: “But who cares about Slovakia, right, Mr. Zelenskyy? But when you need something to keep you from freezing in the winter, you scream in frustration,” Fico said.
Zelensky responded Saturday by accusing Slovakia, which is a NATO and EU member state, of opening a “second energy front” against Ukraine on orders from Moscow.
“It appears that Putin gave Fico the order to open the second energy front against Ukraine at the expense of the Slovak people’s interests,” Zelensky wrote on X.
“Fico’s threats to cut off Ukraine’s emergency power supply this winter while Russia attacks our power plants and energy grid can only be explained by this,” he emphasized. He charged that Putin is “dragging Slovakia into Russia’s attempts to cause more suffering for Ukrainians.”
As Russia’s aerial assaults on Ukraine’s energy grid have grown worse, Ukraine has relied more and more on electricity imports from neighboring and outside countries to survive.
Zelensky has indicated the Slovakia accounts for 19% of Ukraine’s power imports, which is a significant portion, and outsized given Slovakia’s small geographic size. Clearly, Fico does have serious leverage at his disposal.
Today, I reviewed the details of electricity imports from the EU to Ukraine via Slovakia—accounting for about 19% of the total volume. Fico won’t cut off our imports. We are working with other neighbors in the EU.
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) December 28, 2024
“Slovakia is part of the single European energy market and Fico must respect common European rules,” the Ukrainian leader further said Saturday.
Fico has long been target of vitriol from Kiev officials, given he has consistently and loudly opposed Ukraine’s entry into NATO, in common with Hungary’s Viktor Orban. “As long as I am the prime minister of the Slovak Republic, as long as I lead the deputies, whom I, as the party chairman, have under political control, I will never agree to Ukraine’s membership in NATO,” Fico declared this past October.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0449 UP 33 BASIS PTS
USA/ YEN 157.53 DOWN 0.176 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 1.2591 UP .0041 OR 41 PTS
USA/CAN DOLLAR: 1.4384 UP 0.0005 (CDN DOLLAR DOWN 5 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 7.18 PTS OR 0.21%
Hang Seng CLOSED DOWN 49.04 PTS OR .24%
AUSTRALIA CLOSED DOWN .28%
// EUROPEAN BOURSE: ALL MOSTLY MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MOSTLY MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 49.04 PTS OR ,24%
/SHANGHAI CLOSED UP 7,18 PTS OR 0.21%
AUSTRALIA BOURSE CLOSED DOWN .28%
(Nikkei (Japan) CLOSED DOWN 356.22 PTS OR 0.96%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2620.50
silver:$29.44
USA dollar index early MONDAY morning: 107.63 DOWN 17 BASIS POINTS FROM FRIDAY’s CLOSE.
The USA/Yuan, CNY ON SHORE CLOSED DOWN 7.3030 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.3032)
TURKISH LIRA: 35.33 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.073
Your closing 10 yr US bond yield DOWN 7 in basis points from FRIDAY at 4.544% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.797 DOWN 5 in basis points /11:00 AM
USA 2 YR BOND YIELD: 4.264 DOWN 7 BASIS PTS.
GOLD AT 11;00 AM 2611.60
SILVER AT 11;00: 29.16
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: MONDAY CLOSING TIME 11:00 AM//
London: CLOSED DOWN 28.77 pts or .35%
German Dax : DOWN 78.18 pts or .38%
Paris CAC CLOSED DOWN 41.81 pts or 0.57%
Spain IBEX CLOSED UP 5.20 PTS OR .05%
Italian MIB: CLOSED UP 25.21 PTS OR 0.07%
WTI Oil price 71.13 11 EST/
Brent Oil: 74.28 11:00 EST
USA /RUSSIAN ROUBLE /// AT: 108.00 ROUBLE DOWN 2 AND 53/100
GERMAN 10 YR BOND YIELD; +2.3640 DOWN 3 BASIS PTS.
UK 10 YR YIELD: 4.6575 DOWN 1 BASIS POINTS
CDN 10 YEAR RATE: 3.280 DOWN 7 BASIS PTS.
CDN 5 YEAR RATE: 3.014 DOWN 4 BASIS PTS
CLOSING NUMBERS: 1 PM
Euro vs USA 1.0401 DOWN 0.0015 OR 15 BASIS POINTS
British Pound: 1.2549 DOWN 0.0009 OR 9 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.6080 DOWN 8 BASIS PTS//
JAPAN 10 YR YIELD: 1.070
USA dollar vs Japanese Yen: 156.868 DOWN 540 BASIS PTS// HEADING FOR 160 TO THE DOLLAR
USA dollar vs Canadian dollar: 1.43.58 DOWN 0022 BASIS PTS CDN DOLLAR UP 22 BASIS PTS
West Texas intermediate oil: 71.25
Brent OIL: 74.11
USA 10 yr bond yield DOWN 8 BASIS pts to 4.547
USA 30 yr bond yield DOWN 5 BASIS PTS to 4.766%
USA 2 YR BOND: DOWN 7PTS AT 4.257
CDN 10 YR RATE 3.259 DOWN 7 BASIS PTS
CDN 5 YEAR RATE: 2.992 DOWN 6 BASIS PTS
USA dollar index: 107.85 UP 6 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 35.33 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 110.50 DOWN 5 AND 03/100 roubles
GOLD 2,608.45 3:30 PM
SILVER: 29.02 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 418.48 PTS OR 0.97%
NASDAQ DOWN 275.83 PTS OR 1.28%
VOLATILITY INDEX: 16.82 UP 0.87 PTS OR 5.47%
GLD: $240.43 DOWN 0.77 OR 0.32%
SLV/ $26.43 DOWN .33 OR 1.23%
TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 140.86 PTS OR 0.57%
end
USA AFFAIRS
ZEROHEDGE HEADLINE/TODAY’S TRADING
Markets Spectacularly Dump’n’Pump As Year-End Looms
II USA DATA
usa markets are collapsing: PMI’s plummet
(zerohedge)
Chicago PMI Plummets Near COVID Lows As Small Biz/CEO Confidence Soars
Monday, Dec 30, 2024 – 09:55 AM
MNI’s Chicago PMI survey plunged back near COVID lockdown lows in December, falling to a very contraction-y 36.9 (below the lowest analyst estimate of 40)…
Source: Bloomberg
Under the hood, it was uniformly ugly…
Prices paid rose at a slower pace; signaling expansion
New orders fell at a faster pace; signaling contraction
Employment fell at a slower pace; signaling contraction
Inventories fell at a faster pace; signaling contraction
Supplier deliveries rose at a faster pace; signaling expansion
Production fell at a faster pace; signaling contraction
Order backlogs fell at a slower pace; signaling contraction
This tumble in survey sentiment fits with the overall slump in ‘soft’ data since Trump was elected…
Source: Bloomberg
…which is odd given the small business and CEO – large business – confidence has exploded higher since his election)…
Source: Bloomberg
Does make one wonder just who the local Fed surveys are asking?
Source: Bloomberg
Partisan PMIs?
END
Stale data: long term rates are rising so home sales should fall in December
(zerohedge)
US Pending Home Sales Rose Again In November As Mortgage Rates Fell, But…
Monday, Dec 30, 2024 – 10:16 AM
Pending sales of US homes increased for a fourth month in November as homebuyers took advantage of falling mortgage rates…
Source: Bloomberg
That lifted the total pending home sales index to its highest since early 2023…
Source: Bloomberg
A National Association of Realtors measure of contract signings rose 2.2% to 79, the highest since February 2023. The median estimate in a Bloomberg survey of economists called for a 0.8% increase.
“Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,” NAR Chief Economist Lawrence Yun said in a statement.
“Buyers are no longer waiting for or expecting mortgage rates to fall substantially.”
We shall see, Larry!
Pending sales were led by a 5.2% monthly increase in the South, with smaller advances in the West and Midwest. Activity declined in the Northeast.
But, given the lags in the home-buying process, we suspect this hope-filled rebound in home sales will be very short-lived…
Source: Bloomberg
…and don’t believe that more Fed cuts will help…
Source: Bloomberg
The Fed is cornered.
end
Government Spending Will Cause The Next Financial Crisis
Crises are never caused by building excessive exposure to high-risk assets. Crises can only happen when investors, government bodies, and households accumulate risk in assets where most believe there is little to no risk.
The 2008 crisis did not occur due to subprime mortgages. Those were the tips of the iceberg. Moreover, Freddie Mac and Fannie Mae, state-owned entities, guaranteed the subprime mortgage packages, which prompted numerous investors and banks to invest in them. Nobody can anticipate a crisis stemming from the potential decline in the Nvidia share price or the value of Bitcoin. In fact, if the 2008 crisis had been created by subprime mortgages, it would have been absorbed and offset in less than two weeks.
The only asset that can really create a crisis is the part of banks’ balance sheets that is considered “no risk” and, as such, requires no capital to finance their holdings: government bonds. When the price of sovereign bonds swiftly declines, the banks’ balance sheet rapidly shrinks. Even if central banks conduct quantitative easing, the spillover effect on other assets leads to the abrupt destruction of the money base and lending.
The collapse in the price of the allegedly safest asset, government bonds, comes when investors must sell their existing holdings and fail to purchase the new supply issued by the states. Persistent inflation consumes the real returns of previously purchased bonds, leading to the emergence of evident solvency problems.
In summary, a financial crisis serves as evidence of the state’s insolvency. When the lowest-risk asset abruptly loses value, the entire asset base of commercial banks dissolves and falls faster than the ability to issue shares or bank bonds. In fact, banks are unable to increase capital or add debt due to the declining demand for sovereign bonds, as banks are perceived as a leveraged bet on government debt.
Banks do not cause financial crises. What creates a crisis is regulation, which always considers lending to governments a “no-risk,” “no capital required” investment even when solvency ratios are poor. Because the currency and government debt are inextricably linked, the financial crisis first manifests in the currency, which loses its purchasing power and leads to elevated inflation, and then in sovereign bonds.
Keynesianism and the MMT fallacy have driven global public debt to record levels. Furthermore, the burden of unfunded liabilities is even larger than the trillions of dollars of government debt issued. The United States’ unfunded liabilities exceed 600% of GDP, according to the Financial Report of the United States Government, February 2024. In the European Union, according to Eurostat, France and Germany each accumulate unfunded liabilities that exceed 350% of GDP.
According to Claudio Borio of the Bank for International Settlements, a government debt glut may cause a bond market correction that could spill over into other assets. Reuters reports that large government budget deficits suggest that sovereign debt could rise by a third by 2028 to approach $130 trillion, according to the Institute of International Finance (IIF) financial services trade group.
Keynesians always say that public debt does not matter because the government can issue all it needs and has unlimited taxation power. It is simply false.
Governments cannot issue all the debt they need to finance their deficit spending. They have three clear limits:
The economic limit: Rising public deficits and debt cease to function as purported tools to stimulate economic growth, instead becoming a hindrance to productivity and economic development. Despite this completely false theory, most governments continue to portray themselves as engines of growth. Today, this is more evident than ever before. In the United States, every new dollar of debt brings less than 60 cents of nominal GDP growth. In France, the situation is particularly alarming, as a 6% GDP deficit results in a stagnant economy.
The fiscal limit: Rising taxes generate lower-than-expected receipts, and debt continues to rise. Keynesianism believes in government as an engine of growth when it is a burden that does not create wealth and only consumes what has been created by the private sector. When taxes become confiscatory, tax receipts fail to rise, and debt soars regardless.
The inflationary limit: more currency printing and government spending creates persistent annualised inflation, making citizens poorer and the real economy weaker.
In most developed nations, the three limits have been clearly exceeded, but it seems that no government is willing to reduce its spending, and without spending cuts, there is no debt reduction.
Irresponsible governments, forgetting that their role is to administer scarce resources rather than create debt, will trigger the next crisis. Countries like Brazil and India are seeing their currencies plummet due to concerns about the sustainability of public finances and the risk of borrowing more while inflation remains high. The euro has plummeted due to the combination of France’s fiscal woes and bureaucrats’ demands for Germany to increase its deficit spending.
As always, the next crisis will be attributed to the final drop that causes the dam to collapse, but it will also be caused—as always—by government debt. Politicians’ lack of concern stems from the fact that taxpayers, families, and businesses will bear the brunt of all the adverse consequences. When the debt crisis arises, Keynesians and astute politicians will argue that the solution demands increased public spending and debt. You and I will pay.
No government is willing to give you, as an investor, a real positive return on holdings of their debt. The most important investment decision for the next five years is to protect ourselves from currency debasement.
III USA ECONOMIC NEWS
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
end
iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES
END
FREIGHT ISSUES/USA/
END
VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON
TUCKER CARLSON INTERVIEWING
KING REPORT
The King Report December 30, 2024 Issue 7400
Independent View of the News
Friday King Report: It appeared that there was a rotation out of Fangs/Mag7 an into economically sensitive stocks. There were also subtle hints that someone did a careful rotation out of stocks and into bonds. These are two portfolio adjustments that might occur during the final session of 2024.
On Friday, Fangs/Mag 7 stocks got hammered; the general market followed them lower. Bonds decline moderately. The footprints of the above-mentioned dynamics appeared on Thursday.
Japan Economic Data released on FridayNov Jobless Rate 2.5% as expected and prior, Job-to-Applicate Ratio 1.25 as expectedDec Tokyo CPI y/y 3.0%, 2.9% expected, 2.5% priorDec Tokyo CPI Ex-Fresh Food y/y 2.4%, 2.5% expected, 2.2% priorDec Tokyo CPI Ex-Fresh Food & Energy 1.8%, 1.9% expected and priorNov Retail Sales y/y 2.8%, 1.5% expected, 1.3% priorNov Retail Sales m/m 2.8%, 0.5% expected, -0.2% priorNov Industrial Production m/m -2.3%, 3.5% expected, 2.8% priorNov Industrial Production y/y -2.8%, -3.2% expected, 1.4% priorNov Housing Starts y/y -1.8%, -0.1% expected, -2.9% priorAnnualized Housing Starts 0.775m as expected, 0.779m prior Tokyo Inflation Accelerates, Supporting Case for BOJ Rate Hike – BBG Consumer prices excluding fresh food rose 2.4% in the capital… Tokyo’s figures serve as a leading indicator for national trends. Separate data showed the labor market staying tight in November with the jobless rate unchanged at 2.5%… Retail sales came in stronger than forecast… The acceleration in the capital’s inflation was largely driven by 13.5% gains in energy prices, following the phasing out of government subsidies for gas and electricity bills… https://finance.yahoo.com/news/tokyo-inflation-accelerates-subsidies-phased-235403500.html
ESHs traded modestly lower from the Nikkei opening on Friday, until they broke lower at 19:10 ET. A slow, slight decline persisted until ESHs broke down after the 7 ET US repo market opening. ESHs then sank to 5997.75 at 10:30 ET. Traders then played for the 2nd Hour Reversal. ESHs jumped to 6021.00 at 10:55 ET. Selling pushed ESHs down to 6000.25 at 11:20 ET. The manipulation for the European close lifted ESHs to 6023.50 at 11:37 ET. ESHs then sank to a daily low of 5982.75 at 12:36 ET.
The Friday Afternoon Rally propelled ESHs to 6033.75 at 13:57 ET. Selling pushed ESHs down to 6003.25 at 15:44 ET. A late manipulation forced ESHs to 6031.50 at 15:53 ET.
Consumer Discretionary Beats Staples Beyond Tech’s Impact – BBG Consumer Discretionary is up about 25% year-to day, one of the best-predooming S%P 500 GICS1 sectors, with Amazon and Tesla responsible for 80% of those gains in terms of index points. Consumer staples has risen a mere 14%, mostly thanks to Walmart and Costco…
@SJD10304: The S&P 500 is currently off -1.6% in December, but under the hood it’s a bloodbath. I would bet we can count on one hand, maybe only a few fingers, the number of months where 6 or more sectors fell -5% or worse with the S&P 500 not even down -2%.https://t.co/gMCsUFsbLL (Tech +1.77%, Consumer Discretionary +4.22%, 9 other major sectors are negative.) The FT: US credit card defaults jump to highest level since 2010 (+50% y/y first 9 months of 2024) Consumers are ‘tapped out’ after years of high inflation and as pandemic-era savings have evaporated https://www.ft.com/content/c755a34d-eb97-40d1-b780-ae2e2f0e7ad9
Positive aspects of previous session The Friday Afternoon Rally and late manipulation truncated equity losses. Precious metals declined sharply.
Negative aspects of previous session Fangs/Mag 7 stocks got clobbered; the general market followed them. USHs declined as much as 25/32 and were -23/32 at the NYSE close. Oil and gasoline rallied smartly.
Ambiguous aspects of previous session Is an end of the year rotation out of Mag 7 beginning? Will an end of the year rotation out of equities and into bonds occur?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5969.99 Previous session S&P 500 Index High/Low: 6006.17; 5932.95
Eggs +154.34% Cocoa +135.19% Spain Electricity +95.29% Germanium +86.70% Coffee +70.87% Sunflower Oil +55% Orange Juice +54.81% UK Gas +47.78% TTG Gas +47.70% Natural Gas +46.55% Containerized Freight +39.83% Butter +28.30% Gold +27.05% Indium +26.93% Palm Oil +24.54% Rubber +24.28% Lean Hogs +23.84% Silver +23.48% Tea +21.10% Rapeseed +18.09% Beef +18.50% Feeder Cattle +17.22% Milk +16.09% UK Electricity +16.13% CRB Index +16.19% Italy Electricity +19.32% Molybdenum +15.06% Barley +14.91% Live Cattle +14.88% Propane +14.82% Zinc +14.41% Cheese +13.35% Tin +13.39% Tellurium +13.16% Gallium +10.97% Poultry +9.93%
The Fed will not cut rates anytime soon.
@charliebilello: Large Cap US stocks are now trading at 28x earnings vs. 18x for Small Caps. This is the widest valuation gap since 2000. https://t.co/l5IYmkf6Ih
@nicksortor: President Trump just BLASTED Kevin McCarthy for pushing the debt ceiling fight out of Biden’s term and into Trump’s while he was Speaker. Trump says this “will go down as one of the DUMBEST political decisions made in years.”… our CURRENT Speaker Johnson didn’t do anything about it either.https://x.com/nicksortor/status/1873499216485507533
Sugar Juice & Fraud Propped Up Failing Biden Economy – Ed Dowd “We had 10% deficit to GDP during the Great Financial Crisis (2008 – 2009) when we actually had a crisis. We had 8% deficit to GDP during this election year. You have to ask yourself, what was the crisis? The crisis was to get the Biden Administration (and Kamala) re-elected. So, they went on binge spending. They borrowed from the future to try to ensure they won. They did it two ways: They hired massive amounts of government personnel to float the economy, and they also did illegal immigration… But it was not just massive money printing and debt creation that hid how bad the real economy was, it was very crooked data. Dowd says, “We also had bureaucratic incompetence or fraud or whatever you want to call it. They were padding the non-farm payroll numbers to the tune of 1.25 million jobs… The Fed made bad decisions on this data, and corporations made bad decisions on this data. The price tag is coming due in 2025. Not only that, but we have a slowing economy across the globe… “The other thing that is going on is the increase in cancers. Science is following up . . . There is cancer causing agents in the mRNA vaccines, and we are seeing cancers on the rise. . . . There are new (medical insurance) claims among young workers, especially cancer claims. . . .Insurance rates are going up across the board. The answer to what is going on is to raise prices. They are not differentiating between the vaxed and unvaxed. So, everybody’s prices are going up. Health insurance is going to become unaffordable for most people.”… https://usawatchdog.com/sugar-juice-fraud-propped-up-failing-biden-economy-ed-dowd/
Today – Besides the Monday Rally, the major themes for the next two sessions are: Yearend performance gaming, led by the over-owned Mag 7/Fangs, and portfolio rebalancing between stock groups as well as bonds vs stocks. Due to holiday absenteeism, the markets will be very thin.
ESHs are -7.25; NQHs -15.00; and USHs -4/32 at 20:15 ET.
Expected Economic Data: Dec Chicago PMI 42.8; Nov Pending Home Sales 0.9% m/m & 7.9% y/y NSA; Dec Dallas Fed Mfg. Activity -1.5
S&P Index 50-day MA: 5941; 100-day MA: 5780; 150-day MA: 5669; 200-day MA: 5544 DJIA 50-day MA: 43,478; 100-day MA: 42,422; 150-day MA: 41,428; 200-day MA: 40,796 (Green is positive slope; Red is negative slope)
S&P 500 Index (5970.84 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5304.59 triggers a sell signal Weekly: Trender is positive; MACD is negative – a close below 5735.66 triggers a sell signal Daily: Trender and MACD are negative – a close above 6129.70 triggers a buy signal Hourly: Trender and MACD are negative – a close above 6031.41 triggers a buy signal
The addled Big Guy and his handlers told the WaPo that he regrets withdrawing from the 2024 race and appointing Merrick Garland as AG because Garland did NOT aggressively utilize lawfare against DJT.
Daily Mail: Inside Biden’s fury at AG Merrick Garland and why he blames the Trump prosecutor for his election defeat – Nearing the end of his presidency, Biden has admitted that he regrets appointing Garland because the justice department has aggressively prosecuted his son Hunter, but slowed down prosecution for President-elect Donald Trump, sources close to the matter told The Washington Post… https://www.dailymail.co.uk/news/article-14233711/inside-biden-fury-attorney-general-merrick-garland-election-defeat.html
Biden commutes the death sentence for… (in Chicago) a doctor who killed one of his patients to keep her from testifying about his involvement in Medicare fraud. https://t.co/wLLCamaH9r
Scott Jennings Has Some Thoughts About Vivek Ramaswamy’s Tweet Calling Americans Lazy, Mediocre – During an appearance with CNN’s Abby Phillips, Jennings was asked about Ramaswamy’s post. “Somebody got stuff in a locker. I’m not going to say who,” Jennings joked in response. The commentator argued that “there’s a way to solve this and talk about this that doesn’t denigrate all of American culture” and said he is “now understanding more and more how he got 100 votes in Iowa or whatever it was he got during the Iowa caucus… To say that this wasn’t Ramaswamy’s best moment would be a serious understatement. By labeling American culture as “lazy” and “mediocre,” the former presidential candidate essentially blamed struggling Americans who feel they are being displaced by immigrants for their plight… https://townhall.com/tipsheet/jeff-charles/2024/12/27/scott-jennings-roasts-vivek-ramaswamy-for-calling-americans-lazy-mediocre-n2649618
@VivekGRamaswamy: The reason top tech companies often hire foreign-born & first-generation engineers over “native” Americans isn’t because of an innate American IQ deficit (a lazy & wrong explanation). A key part of it comes down to the c-word: culture…Our American culture has venerated mediocrity over excellence for way too long (at least since the 90s and likely longer). That doesn’t start in college, it starts YOUNG… https://x.com/VivekGRamaswamy/status/1872312139945234507
Elon Musk, Vivek Ramaswamy in fiery spat with MAGA allies over foreign worker visas: ‘Essential for America to keep winning’ – The source close to transition efforts also argued that Trump wavering on whether he wants more high-skilled foreign laborers to come in makes it “clear” that “these freaks and geeks have a terrible influence on him,” referring to Musk and Ramaswamy. MAGA acolytes like Laura Loomer and right-wing firebrands such as Ann Coulter and Mike Cernovich shot back that Musk and Ramaswamywere only favoring foreign labor for their own Silicon Valley needs… “American workers can leave a company. Imported H-1B workers can’t. Tech wants indentured servants, not ‘high-skilled’ workers,” Coulter said… https://trib.al/JIV23hj
Turns out the H-1B ‘lotto system’ is totally and completely rigged… The H-1B “war” of 2024 is destined to go down in social media history. It’s equal parts productive and chaotic, with pro-foreign worker advocates like Elon Musk and Vivek Ramaswamy squaring off against America First MAGA forces… Every year, a lottery determines who gets an H-1B visa to work in the US. The game, it turns out, is rigged. Outsourcing and staffing firms are exploiting loopholes, crowding out US employers and immigrants who play it fair… nearly half the H-1Bs in Bloomberg’s analysis went to outsourcing of staffing companies… These body shops are headed by former hiring managers from Big Tech companies. They bring people to America, rent apartments for them, and house about 10 together in one apartment… The body shops land them jobs, primarily at the companies these hiring managers came from, and pay the workers less than half of the money in hand. Ex. Job is listed as a $200k salary, but the company is contracted with the body shop *not* the H1B worker, and the worker is actually paid closer to $40 an hour. The body shops pocket most of the money and are making millions by essentially trafficking people…https://revolver.news/2024/12/turns-out-the-h-1b-lotto-system-is-totally-and-completely-rigged/
@USTechWorkers: Essentially what employers sponsoring H-1B visas are doing is selecting the lowest prevailing wage rate on the Labor Condition Application (Level 1 & 2) when it’s not reflective of the skill level of the foreign worker or the true market rate. WAGE ARBITRAGE. https://x.com/USTechWorkers/status/1305283068563845120
@RobertMSterling: H-1B DATA MEGA-THREAD – I downloaded five years of H-1B data from the US DOL website (4M+ records) and spent the day crunching data. I went into this with an open mind, but to be honest, I’m now *extremely* skeptical of how this program works. Here’s what I found… To start with, this program is MASSIVELY popular with employers. The program has a statutory limit of 85,000 visas per year, but employers routinely receive approval for more than 800k applications per year (868k, or 10x the limit, in 2024)… You can see that salaries are disproportionately weighted toward the lower bands… As it turns out, these are ALL Indian companies that import H-1B tech workers en masse: Cognizant (93k), Infosys (61k), Tata Consultancy Services (60k), Wipro, Capgemini, HCL, Compunnel, Tech Mahindra, Mphasis. These aren’t American companies that needed international talent to fill critical roles. They’re foreign companies that appear to have been founded to place overseas tech workers into US companies as contractors… The list of companies seeking visas for accountants is a who’s who of Big Four and other prominent accounting firms… A casual perusal of the data shows that this isn’t a program for the top 0.1% of talent, as it’s been described. This is simply a way to recruit hundreds of thousands of relatively lower-wage IT and financial services professionals… https://t.co/7MtC1bD8oV
Elon Musk changes his tune on H1-B visas and calls system ‘broken’ after MAGA backlashhttps://t.co/a5YCOZSIXe
@kylenabecker: “The most dangerous institutions today are universities because they teach ideas that will lead to the destruction of the United States.” If you wonder why America is a disaster, Ayn Rand gave this prophetic warning in the 1960s. America didn’t listen. https://t.co/mR3fsUm68I
@elerianm: From the @FT editorial, “The great wealth transfer:” “A 20-year US study found that 70 per cent of wealthy families lost their wealth by the second generation, and 90 per cent by the third.”
Jimmy Carter, the 39th POTUS, died at 100 years of age on Sunday. The date of the National Day of Morning has not been announced.
SWAMP STORIES FOR YOU TONIGHT
Liz Cheney is a low life and deserves to go to jail
Few people worked harder over the past few years to put Donald Trump behind bars than Liz Cheney, the former (alleged) Republican congresswoman from Wyoming.
Seeking revenge for Trump’s longtime criticism of her father’s “weapons of mass destruction” lie, Cheney sought to settle a family score by imprisoning Trump over the events of January 6. “No one is above the law!,” Cheney, in her grating sanctimonious style, frequently insists.
Well, except for her.
It now appears Cheney is preparing to fight any federal and/or congressional probe into her demonstrably corrupt role as vice chairman of the January 6 Select Committee. Text messages obtained by Representative Barry Loudermilk (R-Ga), chair of a House subcommittee looking into the J6 committee, prove that Cheney colluded behind the scenes with star witness Cassidy Hutchinson, who dramatically changed her testimony after connecting with Cheney. The communications could represent witness tampering, subornation of perjury—every former White House official including the driver of the presidential vehicle on January 6 has refuted Hutchinson’s account of Trump’s behavior that day—and obstruction.
Based on the results of his ongoing inquiry, Loudermilk determined that “numerous federal laws were likely broken by Liz Cheney” and called for the FBI to investigate her.
Cheney immediately responded by playing the victim and, of course, by blaming Donald Trump. But the American people appear uninterested in Cheney’s excuses; a new Rasmussen poll shows strong public support, including three-quarters of Republicans, for an FBI investigation into the bitter and defeated nepobaby.
If Trump’s Department of Justice decides to proceed, Cheney undoubtedly will seek immunity protections in an attempt to keep records away from federal investigators; members of Congress are entitled to immunity under the Speech or Debate Clause of the Constitution, which shields lawmakers from criminal liability related to their legislative duties.
Immunity for Me But Not For Thee or Thee or Thee
Cheney’s sycophants are already signaling that is the route she will take. During recent interviews, Rep. Jamie Raskin, a close pal of Cheney’s and fellow “NO ONE IS ABOVE THE LAW” squawker, warned the clause can prevent the FBI from accessing her communications.
Pressed by reporter Hugo Lowell during a recent podcast, Raskin pooh-poohed accusations that Cheney potentially broke the law. “That hardly is a crime in the United States,” Raskin said about Cheney’s secret collaboration with Hutchinson. “In any event, she’s completely protected by the Speech and (sic) Debate Clause, which protects all of us in our legislative capacities both in terms of our direct legislative action and in doing the investigative research that needs to be done in order to legislate and to act as legislators in a comprehensive way.”
Raskin said the same during a separate interview with CBS News. “They’ve been talking about going after Liz Cheney simply for doing her legislative work in a way that is completely covered by the Speech and (sic) Debate Clause. It is not a crime for someone to go out and find witnesses to a violent insurrection.”
Now, that is really rich coming from Raskin and potentially from Cheney. As members of the J6 committee, both were instrumental in stripping privilege sought by Trump and his inner circle including his attorneys, which resulted in the production of presidential records to the Trump-hating partisans on the committee and testimony by White House officials who are usually protected by executive privilege.
But Cheney also urged the Supreme Court to act quickly in denying Donald Trump’s claims of presidential immunity from prosecution after Special Counsel Jack Smith indicted Trump in August 2023 on four counts for his alleged role in “conspiring” to overturn the results of the 2020 election, representing the first time in history a former president faced a criminal federal indictment.
Despite the unprecedented nature of the question and troubling long term consequences for the country, Cheney acted as if the matter was a no brainer and accused anyone opposed as being, of course, a Kremlin stooge.
A few days before the court held oral arguments in Trump v US, the landmark immunity case, Cheney published an op-ed in the New York Times urging justices to move with haste. “If delay prevents this Trump case from being tried this year, the public may never hear critical and historic (sic) evidence developed before the grand jury, and our system may never hold the man most responsible for Jan. 6 to account,” Cheney wrote on April 22, 2024.
She further lamented how Trump tried to “delay” proceedings before her House committee by seeking privilege protections in court. “I know how Mr. Trump’s delay tactics work. Our committee had to spend months litigating his privilege claims…before we could gain access to White House records.” (This is untrue since Joe Biden repeatedly and quickly denied Trump’s privilege requests and Judge Tanya Chutkan, who later presided over Smith’s J6 indictment, also expedited the matter ultimately forcing the national archives to turn over presidential material that usually takes years to litigate.)
So, according to Cheney’s logic, any assertion of executive privilege—a legitimate legal argument with decades of recent case law behind it—represents a “delay tactic.” Should be fun to watch Cheney explain her hypocrisy once the privilege tables are turned.
Lawfare’s Karma Could Catch Up With Cheney
Further, the lawfare Cheney supported against Trump and his congressional allies could very well come back to bite her. A pair of recent court decisions have narrowed Speech or Debate Clause protections including those that appear tied to legislative functions.
The day after the Mar-a-Lago raid in August 2022, FBI agents seized the cell phone of Rep. Scott Perry, who was traveling with his family at the time. The FBI then sought court-approved access to thousands of records contained on his device as part of the DOJ’s investigation into Trump for Jan 6.
Perry invoked the Speech or Debate Clause in asking a D.C. judge to prevent the DOJ from obtaining roughly 2,000 messages and emails the Pennsylvania congressman said were related to official legislative business, namely, the certification of the 2020 election. But Beryl Howell, the former chief judge of the D.C. district court and unabashed Trump-hating partisan, denied almost all of Perry’s claims.
Judge Howell in January 2023:
Rep. Perry contends that he is entitled to withhold as privileged under the Clause 2,219 responsive records spanning his communications not only with fellow congressional Members and staff, but also with private individuals and officials with no formal role or function in the United States Congress, including officials with the Trump campaign, the White House, Office of the President, and the Pennsylvania State Legislature. He articulates a broad reach of the non-disclosure aspect of the Speech or Debate Clause privilege to block access in a criminal investigation to any communications he had with any person in any capacity when “he was engaged in information gathering that is ‘part of, in connection with, or in aide of a legitimate legislative act’ . . . even where it is an informal effort undertaken by an individual Member of Congress or their staff. This astonishing view of the scope of the legislative privilege would truly cloak Members of Congress with a powerful dual non-disclosure and immunity shield for virtually any of their activities that could be deemed information gathering about any matter which might engage legislative attention (emphasis added).
The D.C. appellate court in September 2023 largely upheld Howell’s order only making an exception to a handful of records pertaining to the votes planned for January 6, 2021. “Informal factfinding,” the three-judge panel including two Trump appointees concluded, “does not necessarily mean that such acts are privileged.” (Perry, by the way, was never charged.)
So, what “legislative” function did Cheney conduct when she used an encrypted app to talk to Hutchinson, who already had testified twice to the J6 committee before connecting with Cheney? Further, Hutchinson’s now provably false account of Trump’s behavior on January 6 had no role in developing legislation; in fact, the J6 committee’s final report contained only vague legislative recommendations that were never enacted by Congress. (Republicans took control of the House a few weeks after the committee issued its report.)
Cheney’s conduct also appears to fail the “investigative” test established in other court decisions. Hutchinson’s fictional tales about Trump physically confronting his security detail or throwing dishes at the wall or watching cable news as the chaos unfolded at the Capitol did not represent the fruits of an “investigation” or serve any investigative purpose.
Cheney may succeed where others failed since her immunity litigation will be handled by likeminded D.C. judges who won’t care about the appearance of hypocrisy. But watching Cheney—one of the most insufferable, self-aggrandizing, and thin-skinned politicians around—eat her own words will be a satisfying spectacle on its own.
END
Figures!!
Suspected Chinese Spy Is Fiancé Of California Councilwoman
A California councilwoman is the fiancée of a man accused of peddling political influence on behalf of the Chinese regime, court records show.
The man, Mike Sun, has allegedly worked with a recently sentenced Chinese agent to advance the Chinese regime’s political interests in Los Angeles. Court documents suggest the two have worked closely for years to align U.S. policy interests with Beijing on sensitive issues, with the Chinese agent Chen Jun telling Chinese officials that Sun—and the councilwoman—were part of a “basic team dedicated for us.”
Sun is also known as Sun Yaoning. Court records show that he is a former Chinese army member. He was the campaign manager for Eileen Wang in 2022, the year she won the city council seat for Arcadia in Los Angeles County with nearly two-thirds of the vote, prosecutors said.
Helping Wang win the midterm election, Sun said in a draft report to Chinese officials, was his proudest achievement as someone who “persist[s] in resisting any hostile forces that undermine the friendship of US-China relations, and Chinese secessionist forces,” according to federal prosecutors.
A review of the court records, public information, and business filings reveals the personal connections between Wang and Sun, who have engaged in several ventures together, including a U.S.-based media group, business entities, and multiple pro-Beijing organizations.
One of them is the American Southwest Chamber of Commerce, a Los Angeles nonprofit Wang founded in 2018 that purports to “promote communication of American southwest people of China,” according to business filings.
Wang confirmed her engagement to Sun in a court filing over a 2023 defamation lawsuit with Michelle Wu, a certified public accountant who had served as the president of the chamber. Wu sued Wang, Sun, and several other individuals with the organization, saying they had falsely accused her of pilfering the organization’s funds.
“Defendant Sun is Wang’s fiancé and is engaged to be married to Wang, further solidifying their close personal and professional relationship,” Wu stated in her complaint. She didn’t respond to an emailed request for comment.
Wang acknowledged the engagement while refuting the allegations in a subsequent filing.
FBI agents arrested Sun on Dec. 19 and charged the Chino Hills man with acting as an illegal Chinese agent. While the federal complaint didn’t name Wang and referred to the councilwoman as “Individual 1,” the description of Wang from the filing matches her public biographical details.
According to the complaint, Sun’s last registered physical address with the Department of Motor Vehicles is a home that the politician owned.
Incorporation filings show that Sun and Wang had co-run a mainly Chinese-language media outlet called U.S. News Center, whose last post was dated Dec. 16. The site has run a series of articles featuring Wang both as a city council candidate and later as an elected official. One February 2022 article, labeled under the category “top elite Chinese elected officials,” noted Wang’s support toward a public charity and put her as someone who “spares no efforts in serving the community.”
The two have interacted with each other’s posts on LinkedIn, and Wang’s name has appeared as an author on the media site with hundreds of entries.
Wang has also paid Sun for event, meeting, and travel expenses, her campaign filings show.
‘New Political Star’
Born in Chengdu, the capital of Sichuan Province in southwestern China, Wang had attended college in Los Angeles, according to Chinese language media reports. Prior to entering politics, she ran a tutoring center called “Little Stanford Academy” for students from kindergarten to 12th grade.
In campaign rallies in 2022, Wang had appealed to Taiwanese voters by highlighting her family roots. She mentioned that her grandfather was a lieutenant general and one of the earliest cadets in Whampoa Military Academy, the school established by Sun Yat-sen, who Taiwan reveres as the founding father of its democracy.
While Wang’s campaign garnered Taiwanese support, prosecutors said Chinese operatives have plotted to influence politicians like her to act in line with Beijing on issues such as Taiwan.
Sun had worked with Chen Jun—a Chinese agent sentenced to 20 months in prison for bribing the IRS against persecuted faith group Falun Gong—to draft a report for Chinese officials on Wang’s election win in 2022, according to court filings.
The IRS in Washington, on Aug. 12, 2024. Madalina Vasiliu/The Epoch Times
In conversations about the draft, Chen allegedly called Wang a “new political star,” and instructed Sun to enumerate his and Sun’s “past struggle fighting Taiwanese independence forces” and Falun Gong practitioners in the local area.
Chen had proposed a plan to disrupt a new congressman’s upcoming visit to Taiwan, according to prosecutors. In February 2023, they flagged Taiwanese and Falun Gong participation in the Rose Parade and Independence Day Parade, according to the federal complaint. They allegedly promised to counter that by creating their own drum band and float, and they applied for $80,000 in funding from Chinese officials.
“Once the project is approved, must execute well,” Chen wrote to Sun, who responded in the affirmative, according to court documents.
Learning from Chen about Wang’s election victory, three Chinese officials seemed enthusiastic. They responded variously with salute emojis, smiley faces, and thumbs up, the filings show.
Chen, according to the complaint, paid special attention to Wang’s “friendly relationship” with a U.S. congressperson, whose name authorities redacted from the filing, and noted Wang has “lots of contact with mainstream politicians.” Chen also commented on Wang’s familial history, remarking that her grandfather was “very famous,” according to quoted conversations.
Rep. Judy Chu (D-Calif.) recognized Wang as one of the 2024 Congressional Women of the Year, which honors “women nominated by people in their own cities and communities,” according to a press release. Chu noted in a speech Wang’s leadership roles in serving as president of the American Southwest Chamber of Commerce. The Epoch Times has reached out to Chu’s office for comment.
China Trips
Records gathered by prosecutors show that in 2023, Wang and Sun had planned a trip together through six cities across China. Sun told Chen he would be meeting with a Chinese leader, likely part of the Chinese intelligence apparatus, to present his work report, according to the FBI agent.
A photo of Chen Jun as appeared on his driver’s license. Department of Justice
That discussion happened weeks before Chen’s arrest over the IRS bribery case.
Three months later, in August 2023, Wang flew from Los Angeles to Hong Kong; she returned on the same flight with Sun from Shanghai to Los Angeles that September, the complaint said.
Chinese media reports show that Wang had engaged with Chinese authorities as the head of the American Southwest Chamber of Commerce.
In April 2019, Wang traveled to Chengdu with Sun to celebrate the creation of a Sichuan branch of the chamber. Officials from the provincial Returned Overseas Chinese Federation, a Chinese Communist Party organ that targets the Chinese diaspora, spoke at the opening ceremony and posed for photos with the pair, according to the reports. The reports quoted Wang promising to “proactively plan and organize” activities to advance the U.S.-China interactions in areas such as economy, education, culture, technology, and medicine.
The two made another China trip in November of the same year to make donations to 10 poor students in the Sichuan city of Shehong. The activity received “strong support” from the city’s United Front Department, Beijing’s overseas political influence network that the Returned Overseas Chinese Federation is part of, according to a post on the provincial federation website.
“I’ve been in the United States for over two decades, but I often go back to China,” Sun was cited as saying. He said there are many Chinese immigrants like him that “hope to contribute to their home country to the best of their ability.”
The Epoch Times has contacted Wang for comment.
On Dec. 23, Arcadia City Manager Dominic Lazzaretto published a letter to the community to address the FBI investigation into Sun and his associates.
He said that “Sun had no involvement whatsoever with City of Arcadia business or decision-making” and that the City of Arcadia “supports a thorough and comprehensive investigation by our federal partners into these serious allegations.”
Wang has spoken to the FBI, according to Lazzaretto. She hasn’t been arrested or charged with any crime, and has stated that she “intends to fully cooperate with federal authorities throughout this process,” he said.
GREG HUNTER INTERVIEWING ED DOWD
Sugar Juice & Fraud Propped Up Failing Biden Economy – Ed Dowd
Former Wall Street money manager and financial analyst Ed Dowd of phinancetechnologies.com is back with more data on how the Biden Administration propped up a failing economy during the 2024 election year. Dowd contends “crisis level spending” was being administered, along with some bigtime “fraud.” Dowd says, “We had 10% deficit to GDP during the Great Financial Crisis (2008 – 2009) when we actually had a crisis. We had 8% deficit to GDP during this election year. You have to ask yourself, what was the crisis? The crisis was to get the Biden Administration (and Kamala) re-elected. So, they went on binge spending. They borrowed from the future to try to ensure they won. They did it two ways: They hired massive amounts of government personnel to float the economy, and they also did illegal immigration. We are thinking it was 10 million to 15 million illegal immigrants that came in the last four years. The majority of the illegal immigrants came in the last two years. That stimulated the economy and raised the velocity of money as those people were given money. All the NGO’s that facilitated the illegal immigration also got money, and that stimulated the economy. This deficit added $2 trillion, and that was unproductive assets. So, we borrowed from the future to create more government jobs and imported unprecedented amounts of illegal immigrants that don’t add to the economy. That’s what we have, and President Trump’s policies are going to reverse all that sugar juice. There are going to be mass deportations and reduced government spending. That short term juice is going away, and it was not sustainable anyway. The bond markets are revolting, and that could not have gone on much longer.” But it was not just massive money printing and debt creation that hid how bad the real economy was, it was very crooked data. Dowd says, “We also had bureaucratic incompetence or fraud or whatever you want to call it. They were padding the non-farm payroll numbers to the tune of 1.25 million jobs. . . . If you look at the chart, which we don’t have here, it’s insane. It’s one of the biggest misses between reality and estimates we have ever seen. It’s a seven-sigma event. It’s 1.25 million jobs. It’s already started downward revisions. . . . The 3rd quarter GDP of 3% will be revised down, and when we get . . . the data in February, there will be more GDP economic revisions down. . . . The capital markets made bad decisions on this data. The Fed made bad decisions on this data, and corporations made bad decisions on this data. The price tag is coming due in 2025. Not only that, but we have a slowing economy across the globe. . . . The amount of foreign assets in our stock market has never been higher, and this is all going to reverse. The price will be paid in 2025. . . .What’s coming is coming. It’s how low do we go, and when do the animal spirits kick in? So, there is pain coming, and it’s up to the Trump Administration to get all their policies enacted. Then we have a hope and a prayer coming out the other side that we will be way better off. The bottom line is there is pain coming regardless. The question is how fast can we restart with Trump’s policies?”
Dowd likes gold as part of a portfolio, and he is suggesting people get some cash in hand. Dowd says the war in Syria is going to intensify, and you will be hearing much more negative news from that area in 2025. Dowd, who wrote the popular book “Cause Unknown: The Epidemic of Sudden Deaths in 2021, 2022 and 2023,” says the epidemic caused by the CV19 injections will be with us for the rest of our lives. Dowd released new data that added 800,000 people to the 4 million disabled we already had since the CV19 mRNA vax began. Dowd says, “The other thing that is going on is the increase in cancers. Science is following up . . . There is cancer causing agents in the mRNA vaccines, and we are seeing cancers on the rise. . . . There are new (medical insurance) claims among young workers, especially cancer claims. . . .Insurance rates are going up across the board. The answer to what is going on is to raise prices. They are not differentiating between the vaxed and unvaxed. So, everybody’s prices are going up. Health insurance is going to become unaffordable for most people.”
If you want to go to Dowd’s website called PhinanceTechnologies.com, click here. (Be on the lookout for his new groundbreaking economic report coming out in January.)
harveyorganblog.com 
