GOLD CLOSED UP $24.35 TO $2693.90

SILVER CLOSED UP 79 CENTS TO $30.60

Gold ACCESS CLOSED $2696.30

Silver ACCESS CLOSED: $03.72

Bitcoin morning price:$97,167 UP 626 DOLLARS.

Bitcoin: afternoon price: $99581 up 3040 DOLLARS

Platinum price closing DOWN $0.55 TO $935.75

Palladium price; UP $20.15 TO $963.25

END

*CANADIAN GOLD: $3863.99 UP 30.60 CDN dollars per oz( * NEW ALL TIME HIGH 3,884.98 CDN DOLLARS PER OZ//JAN 10 2025)

*BRITISH GOLD: 2202.48 UP 11.53 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2,202.84 BRITISH POUNDS/OZ) JAN 10/2025

*EURO GOLD: 2,619.40 UP 23.47 Euros per oz //* (ALL TIME CLOSING HIGH: 2,628.05 EUROS PER OZ/JAN 10 //.2025)

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EXCHANGE

EXCHANGE: COMEX
CONTRACT: JANUARY 2025 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,677.500000000 USD
INTENT DATE: 01/14/2025 DELIVERY DATE: 01/16/2025
FIRM ORG FIRM NAME ISSUED STOPPED

---

072 H GOLDMAN 2
118 C MACQUARIE FUT 666 1
118 H MACQUARIE FUT 154
190 H BMO CAPITAL 162
323 C HSBC 301
363 C WELLS FARGO SEC 1
363 H WELLS FARGO SEC 60
435 H SCOTIA CAPITAL 70
624 H BOFA SECURITIES 256
657 C MORGAN STANLEY 2
661 C JP MORGAN 762
686 C STONEX FINANCIA 6 14
730 C PTG DIVISION SG 2
732 C RBC CAP MARKETS 1
737 C ADVANTAGE 6 21
905 C ADM 102 1

---

TOTAL: 1,295 1,295
MONTH TO DATE: 9,109

JPMorgan stopped 762/1295

GOLD: NUMBER OF NOTICES FILED FOR JANUARY/2024. CONTRACT: 1295 NOTICES FOR 129,500 OZ  4.028 TONNES

total notices so far: 9109 contracts for 910,900 Oz (28.333 tonnes)

FOR  JANUARY

SILVER NOTICES: 32 NOTICE(S) FILED FOR 160,000 OZ/

total number of notices filed so far this month : 1840 for 9.20 million oz

XXXXXXXXXXXXXXXXXX

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GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD UP $24.35 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD:

HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.01 TONNES OF GOLD OUT OF THE GLD

INVENTORY RESTS AT 872.52 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $0.79 AT THE SLV: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.646 MILLION OZ INTO THE SLV

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 464.863 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A FAIR SIZED 324 CONTRACTS TO 150,364 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS FAIR SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR SMALL GAIN OF $0,15  IN SILVER PRICING AT THE COMEX WITH RESPECT TO TUESDAY’S TRADING. WE HAD A HUMONGOUS GAIN OF 1009 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR SMALL GAIN IN PRICE//TUESDAY’S TRADING.. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS ON TUESDAY COMEX TRADING AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST 2 WEEKS WHERE RAIDS ARE CALLED UPON AGAIN AND AGAIN TO QUELL MASSIVE DERIVATIVE LOSSES BY OUR BULLION BANKS AND TO STOP THE RISE IN SILVER’S PRICE. THEY FAILED WITH //TUESDAY PRICING WITH ZERO LONGS BEING KNOCKED OFF. DERIVATIVE LOSSES CONTINUE TO MOUNT. WE HAD CONSIDERABLE T.A.S. LIQUIDATION TUESDAY COUPLED WITH ANOTHER NEW MASSIVE T.A.S. ISSUANCE OF 1418 CONTRACTS ISSUED BY THE CME AND THAT SIGNALS RED THAT WE ARE GOING TO HAVE ANOTHER RAID SHORTLY. WE HAD A STRONG 685 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR ILLUSTRIOUS HUMONGOUS 1418 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN FUTURE 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 1021 CONTRACTS ON OUR TWO EXCHANGES WITH OUR SMALLISH GAIN IN PRICE. WE HAD HUGE TAS LIQUIDATION THROUGHOUT TUESDAY’S COMEX SESSION

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN WITH YESTERDAY’S FAILED RAID.

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 TUESDAY NIGHT: A HUMONGOUS 1418 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 LAST YESTERDAY’S RAID (JAN 13). IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY  $0.15 AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SILVER LONGS FROM THEIR PERCH AS WE HAD A STRONG GAIN IN OUR TWO EXCHANGES OF 1021 CONTRACTS.

WE HAD A 685 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 8.110 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 160,000 OZ QUEUE JUMP//NEW STANDING RISES TO 9.650 MILLION OZ

// STANDING FOR SILVER//JAN  9.650 MILLION OZ 

WE HAD:

/ FAIR SIZED COMEX OI GAIN +// A STRONG 685 SIZED EFP ISSUANCE/ VI)  HUMONGOUS SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 1418 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 12 CONTRACTS.

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JAN. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JAN

TOTAL CONTRACTS for 9  DAYS, total 6139 contracts:   OR 30.695 MILLION OZ  (682 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  30.695 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: 132.54 MILLION OZ (THIS MONTH WILL BE A HUMDINGER FOR ISSUANCE BUT ISSUANCE SLOWED DRAMATICALLY THESE PAST FIVE DAYS/// WILL NOT EXCEED MARCH 2022 RECORD OF 209 MILLION OZ

YEAR 2024 TOTAL: 1363.84 MILLION OR 1.363 BILLION OZ

JANUARY 2025: 30.695 MILLION OZ///(THIS MONTH’S ISSUANCE OF EXCHANGE FOR PHYSICAL WILL BE SMALL)

RESULT: WE HAD A FAIR SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 324  CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A 685 EFP ISSUANCE  CONTRACTS: 685 ISSUED FOR MARCH 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  8.110 MILLION  OZ ON FIRST DAY NOTICE, FOLLOWED BY TODAY’S QUEUE JUMP OF 160,000 OZ

//NEW TOTAL STANDING FOR JAN REMAINS AT 9.650 MILLION OZ 

WE HAVE 1. A HUGE SIZED GAIN OF 1021 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR SMALLISH GAIN IN  PRICE// 2.THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS 1418 CONTRACTS TRYING DESPERATELY TO CONTAIN SILVER’S PRICE RISE,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION BUT THEY STILL NEED THESE ISSUANCE FOR REPLENISHMENT FOR FUTURE TRADING //3. ZERO NET LONG SPECULATORS WERE BURNED ON TUESSSDAY WITH THE SMALL GAIN IN PRICE. ALSO 4. SOME OF OUR LONGS EXERCISED THEIR CONTRACTS 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 TUESDAY NIGHT   (1418) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE, NO DOUBT PRIOR TO TRUMP’S INAUGURATION.

WE HAD 32 NOTICE(S) FILED TODAY FOR 160,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A MEGA HUMONGOUS SIZED 21,578 OI CONTRACTS  TO 526,788 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,105  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. (ALL TIME LOW OF 390,000 CONTRACTS.)

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY:  REMOVED A SMALL SIZED 321 CONTRACTS//

WE HAD A MEGA HUMONGOUS SIZED INCREASE  IN COMEX OI (21,578 CONTRACTS) OCCURRED DESPITE OUR SMALL GAIN  OF $9.40 IN PRICE TUESDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR JAN AT 10.1331 TONNES  FOLLOWED BY TODAY’S MONSTER QUEUE JUMP OF 638 CONTRACTS OR 63,800 OZ TO WHICH WE ADD THE FIRST ISSUANCE FOR EXCHANGE FOR RISK CONTRACTS TOTALLING 1700 CONTRACTS OR 170,000 OZ (5.28775 TONNES) ISSUED JAN 6/2025 TO WHICH WE ADD JAN 8 EXCHANGE FOR RISK ISSUANCE OF 150 CONTRACTS OR 15,000 OZ OR .4665 TONNES . NEW STANDING FOR JAN ADVANCES TO 30.236 TONNES (NORMAL DELIVERY) + 5.753 TONNES EX FOR RISK/PRIOR EQUALS 35.989 TONNES

/NEW STANDING 35.989 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $9.40 GAIN IN PRICE  WITH RESPECT TO TUESDAY’S COMEX ///. WE HAD A MEGA MEGA HUMONGOUS GAIN OF 26,844 OI CONTRACTS (83.50 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 QUEUE JUMPING AND EXCHANGE FOR RISK ISSUANCE.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A VERY STRONG SIZED 5266 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 526,788

IN ESSENCE WE HAVE AMEGA MEGA HUMONGOUS SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 26,844 CONTRACTS  WITH 21,578 CONTRACTS INCREASED AT THE COMEX// AND A VERY STRONG SIZED 5266 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 26,844 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA HUMONGOUS SIZED AND CRIMINAL 39,913 CONTRACTS ISSUED.(THIS IS THE 5TH CONSECUTIVE 30,000+ T.A.S CONTRACT ISSUED BY THE CME.) WE HAD A HUGE LIQUIDATION OF T.A.S CONTRACTS WITH OUR SMALL GAIN IN PRICE TUESDAY. MORE MONSTER ISSUANCE OF T.A.S IS NEEDED FOR REPLENISHMENT TO CARRY OUT ITS PRICE CONTAINMENT STRATEGY IN FUTURE TRADING (FUTURE RAIDS). WE WILL NO DOUBT SEE ANOTHER RAID ORCHESTRATED BY THE CROOKS PRIOR TO TRUMP’S INAUGURATION.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A VERY STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5266 CONTRACTS) ACCOMPANYING THE HUGE SIZED INCREASE IN COMEX OI OF 21,578 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 26.844 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 JAN 10.1331 TONNES FOLLOWED BY TODAY’S QUEUE JUMP OF 638 CONTRACTS OR 63800 OZ (1.984 TONNES) TO WHICH WE ADD THAT CRAZY “DELIVERY” CALLED EXCHANGE FOR RISK JAN 8 OF .4665 TONNES TOGETHER WITH OUR EARLIER EX FOR RISK OF 5.2867 TONNES//// NEW STANDING FOR JAN ADVANCES TO:

30.236 TONNES NORMAL DELIVERY +

5.753 TONNES OF EXCHANGE FOR RISK ON OUR TWO OCCASIONS IN JANUARY (6TH AND 8TH )

EQUALS: 35.989 TONNES

//NEW STANDING JAN: 35.989 TONNES

 / 3) HUGE T.A.S. LIQUIDATION TRYING TO LOWER GOLD’S PRICE TUESDAY WITH ZERO SUCCESS IN REMOVING ANY NET SPECULATOR LONGS, AS WE HAD A 1)  $9.40 PRICE GAIN, AND 2) ZERO NET LONG SPECS BEING CLIPPED AS WE HAD A TOTAL GAIN OF 26,844 CONTRACTS ON OUR TWO EXCHANGES. ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED TUESDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL.

  4)  MEGA HUMONGOUS SIZED COMEX OPEN INTEREST INCREASE 5)  VERY STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///MEGA HUMONGOUS T.A.S.  ISSUANCE: 39.913 T.A.S.CONTRACTS//

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY

JAN

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JAN :

TOTAL EFP CONTRACTS ISSUED: 38,005 CONTRACTS OF 3,800,500 OZ OR 118.22 TONNES IN 9 TRADING DAY(S) AND THUS AVERAGING: 4092 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 9  TRADING DAY(S) IN  TONNES  118.22 TONNES

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

THUS EFP TRANSFERS REPRESENTS  118.22 DIVIDED BY 3550 x 100% TONNES = 3.37% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

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

MARCH:.   276.50 TONNES (STRONG AGAIN/

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

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

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

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

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

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

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

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

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

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

FEB: 151.61 TONNES/FINAL

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

APRIL: 197.42 TONNES

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

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

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

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

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

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

DEC. 213.704 TONNES. A STRONG MONTH//

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

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

FEB’24: 201.947 TONNES

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

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

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

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

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

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

SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END 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 360.03 TONNES THIRD HIGHEST EVER RECORDED FOR EFP ISSUANCE

TOTAL 2024 YEAR. 3,597.846 TONNES

JAN. 2025: 118.22 TONNES (ISSUANCE WILL BE PRETTY SMALL THIS MONTH AND MUCH LOWER THAN LAST 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 FAIR SIZED 324 CONTRACTS OI  TO 150,376 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  7 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.20233EFP ISSUANCE 200 CONTRACTS

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

MAR 685 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 685 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 336  CONTRACTS AND ADD TO THE 685 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1021 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS A  HUGE 5.105 MILLION OZ OCCURRED WITH OUR SMALL  $0.15 GAIN  IN PRICE  

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS  WEDNESDAY MORNING TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 13.82 PTS OR 0.43%

//Hang Seng CLOSED UP 66.29 PTS OR 0.34%

// Nikkei CLOSED DOWN 29.72 OR 0.08%//Australia’s all ordinaries CLOSED DOWN 0.18%

//Chinese yuan (ONSHORE) CLOSED UP TO 7.3316 CHINESE YUAN OFFSHORE CLOSED UP TO 7.3427// Oil DOWN TO 78,06 dollars per barrel for WTI and BRENT DOWN AT 80.18 Stocks in Europe OPENED ALL GREEN

ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING A

STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

ASIA TRADING WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED UP 80.19 PTS OR 2.54%

//Hang Seng CLOSED UP 345.64 PTS OR 1.83%

// Nikkei CLOSED DOWN 716.10 O 1.83%//Australia’s all ordinaries CLOSED UP 0.47%

//Chinese yuan (ONSHORE) CLOSED UP TO 7.3312 CHINESE YUAN OFFSHORE CLOSED UP TO 7.3491// Oil DOWN TO 78,54 dollars per barrel for WTI and BRENT DOWN AT 80.68 Stocks in Europe OPENED ALL MOSTLY GREEN

ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING A

STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A MEGA HUMONGOUS SIZED 21,578 CONTRACTS TO 526,467 DESPITE OUR RELATIVELY SMALL GAIN  IN PRICE OF $9.40 WITH RESPECT TO WEDNESDAY’S TRADING. WE LOST ZERO NET LONGS WITH OUR PRICE GAIN FOR GOLD AS WE HAD ALSO, AS YOU WILL SEE BELOW, A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (5266) . THE CME ISSUED ZERO EXCHANGE FOR RISK THIS EARLY WEDNESDAY MORNING

THUS IN TOTAL WE HAD A MEGA MEGA HUMONGOUS GAIN ON OUR TWO EXCHANGES OF 26,844 CONTRACTS DESPITE OUR SMALLISH GAIN IN PRICE. OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON MONDAY NIGHT AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED TRADING 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 THIS MONTH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY THIS ENTIRE PAST WEEK WITH OUR MAMMOTH T.A.S. ISSUANCES. WE HAD A HUGE T.A.S. LIQUIDATION DURING THE WEDNESDAY COMEX SESSION AS WE HAD AN ATTEMPTED FAILED RAID ON PRICE. WE HAD ANOTHER HUMONGOUS 39,913 T.A.S. ISSUANCE (WEDNESDAY MORNING).THIS IS THE 5TH CONSECUTIVE 30,000 PLUS ISSUANCE. THIS SHOULD END THEIR MEGA ISSUANCE AS I HAVE NEVER SEEN 6 CONSECUTIVE MEGA ISSUANCES BEFORE. WE HOWEVER MUST WAIT FOR TOMORROW’S DATA.

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 WAS SCHEDULED TO HAPPEN LATE OCT 2024/(AS OUTLINED IN OUR GOLD PHYSICAL COMMENTARIES//VIEW ANDREW MAGUIRE LATEST LIVE FROM VAULT PODCAST FRIDAY’S 197 , 199, 2001,   202, 203 , 204 AND 205 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!IT SURE LOOKS LIKE THE BIS HAS GIVEN THE FED ITS MARCHING ORDERS TO COVER ITS PHYSICAL GOLD SHORT AS TRUMP IS COMING INTO OFFICE IN 6 TRADING DAYS. TRUMP WOULD PROBABLY BE FURIOUS WITH THE FED IF IT FOUND OUT THAT THEY (FRBNY) HAS BEEN MANIPULATING THE GOLD MARKET FOR THE PAST TWO YEARS.

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 THE LAST WEEK OF DECEMBER AND THEN THIS WEEK, IS SURELY DISTORTING COMEX OPEN INTEREST BUT THAT DOES NOT STOP LONDON’S ACCUMULATION OF PHYSICAL! YOU CAN ALSO VISUALIZE THAT PERFECTLY WITH THE HUGE AMOUNTS OF QUEUE JUMPING ORCHESTRATED BY CENTRAL BANKERS BOLTING AHEAD OF ORDINARY LONGS AS THEIR NEED FOR PHYSICAL IS GREAT AS THEY SCOUR THE PLANET LOOKING FOR GOLD. AS YOU WILL SEE BELOW, WE HAD ANOTHER HUGE QUEUE JUMPING SESSION TODAY.

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW DEEP INTO THE NON ACTIVE DELIVERY MONTH OF JANUARY.…  THE CME REPORTS THAT THE BANKERS ISSUED A HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A HUGE SIZED 5266 EFP CONTRACTS WERE ISSUED: :  /FEB  5266 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5266 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD DELIVERED COMES FROM LONDON.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A MEGA MEGA HUMONGOUS SIZED TOTAL OF 26,844 CONTRACTS IN THAT 5266 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A HUMONGOUS SIZED GAIN OF 21,578 COMEX  CONTRACTS..AND THIS HUGE GAIN  ON OUR TWO EXCHANGES HAPPENED DESPITE OUR SMALLISH GAIN IN PRICE OF $9.40 TUESDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AT THE COMEX AS MENTIONED  ABOVE.

T.A.S. ISSUANCE

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 TUESDAY NIGHT/WEDNESDAY MORNING WAS A MEGA HUMONGOUS SIZED SIZED 39,913 CONTRACTS, AS THE FED(FRBNY) CALLED FOR THE FED-MOBILE AS THESE WAS USED TO ORCHESTRATE A MASSIVE RAID BEFORE THE TRUMP-MOBILE TAKES OFFICE.. ALMOST ALL OF THE TRADING AND SUPPLY OF CONTRACTS  HAVE BEEN ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK). THE FED WAS EXPERIMENTING WITH EINSTEIN’S DEFINITION OF INSANITY….TRYING TO DO THE SAME THING OVER AND OVER AGAIN HOPING FOR A DIFFERENT RESULT. HIS DEFINITION STILL STANDS.. THE CROOKS ACCOMPLISHED NOTHING AS NOBODY LEFT OUR GOLD METAL ARENA.

MECHANICS OF T.A.S CONTRACTS

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 DEC. 27, 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. THIS WAS COUPLED WITH THE LIQUIDATION OF CALENDAR SPREADERS . THE USE OF OUR TWO SPREADER MECHANISMS WERE OF EXTREME IMPORTANCE TO OUR CROOKS IN LATE DECEMBER’S OPTIONS EXPIRY TRADING. T.A.S. LIQUIDATION WAS EVIDENT IN JAN 6 COMEX TRADING//RAID AND THEN AGAIN YESTERDAY’S FAILED ATTEMPT AT A RAID ON GOLD PRICE. HOWEVER NOT TO BE UNDONE, THE CROOKS ISSUED ANOTHER MONSTER 39,913 T.A.S CONTRACTS. THIS IS THE FIFTH CONSECUTIVE 30,000+ CONTRACT ISSUANCE. THIS T.A.S. ISSUANCE WILL BE USED IN OUR NEXT RAID IN GOLD TRADING NO DOUBT BEFORE TRUMP’S INAUGURATION AS THE FED MUST REDUCE ITS MASSIVE PHYSICAL GOLD SHORT OF 82 TONNES. WE HAD CONSIDERABLE T.A.S. LIQUIDATION WITH RESPECT TO TUESDAY’S COMEX TRADING. (WHICH DISTORTS OPEN INTEREST)

STANDING FOR GOLD FOR THE PAST 4 PLUS YEARS:

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   JAN (35.989 TONNES) WHICH IS HUGE FOR OUR  NON ACTIVE JAN DELIVERY MONTH.

JANUARY: 10.1331 TONNES

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 50 MONTHS OF 2021-2024:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk =  20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT.    35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

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

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

TOTAL 2023 YEAR : 436.546 TONNES

2024

JAN ’24.      22.706 TONNES

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

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

APRIL: 2024: 53.673TONNES FINAL

MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 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 TONNES  EQUALS 95.1066 TONNES

total year 2024: 540.30 tonnes

January 2025: 30.236 TONNES + 5.753 EX FOR RISK/PRIOR = 35.969 TONNES

COMEX GOLD TRADING

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $9.40/)//AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A MEGA HUMONGOUS GAIN IN OUR TWO EXCHANGES. AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION TUESDAY BUT TO NO AVAIL. THUS WE HAVE ANOTHER MONSTER ISSUANCE OF T.A.S. OF 39,913 CONTRACTS TRYING TO QUELL GOLD’S RISE AND HUGE COMEX/OTC DERIVATIVE LOSSES.

THE CROOKS COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL TUESDAY EVENING.

EXCHANGE FOR RISK EXPLANATION/DECEMBER TRADING AND NOW JANUARY!!

46 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 OF DEC TO 14.6836 TONNES. THE COMEX IS TOTALLY SHATTERED TO PIECES.

EXCHANGE FOR RISK THIS JANUARY MONTH

WE NOW BEGIN OUR NEW MONTH OF JANUARY AND LO AND BEHOLD, THE CROOKS ISSUED ANOTHER MONSTER 1700 CONTRACTS FOR EXCHANGE FOR RISK TOTALLING 170,000 OZ OR 5.28775 TONNES ON MONDAY JAN 6/2025. THEN TO MY HORROR, THEY ISSUED THEIR SECOND EXCHANGE FOR RISK ON JAN 8, TOTALLING 150 CONTRACTS FOR 15000 OZ OR .4665 TONNES. THIS TONNAGE WILL BE ADDED TO THE FIRST ISSUANCE. THUS TOTAL EXCHANGE FOR RISK ISSUANCE FOR JANUARY: 5.7533 TONNES. THANKFULLY THEY ISSUED 0 EXCHANGE FOR RISK LAST NIGHT.

TOTAL DELIVERIES JANUARY TRADING

WE HAVE GAINED A MONSTER TOTAL OF 83.50 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR JAN (10.133TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S MONSTER QUEUE JUMP OF 638 CONTRACTS OR 63,800 OZ (1.984 TONNES) TO WHICH WE MUST ADD OUR 5.7533 TONNES OF EXCHANGE FOR RISK ISSUANCE WHERE THE BUYERS ASSUMES THE RISK FOR DELIVERY.(ISSUED JAN 6/2025 AND JAN 8).. THIS IS ,OF COURSE, AGAINST ALL RULES OF THE COMEX AS IT IS MEANT TO DECEIVE US. IT IS TOTALLY INSANE FOR A BUYER TO ASSUME RISK OF DELIVERY.

NEW STANDING FOR JAN: 30.236 TONNES + 5.753 TONNES EX FOR RISK/PRIOR = 35.236 TONNES (WHICH IS HUGE FOR OUR VERY NON ACTIVE DELIVERY MONTH) A NORMAL AMOUNT STANDING FOR A JANUARY IN EARLIER TIMES HAS BEEN GENERALLY AROUND 1/4 TONNE OF GOLD. HOWEVER THESE PAST 4 YEARS QUEUE JUMPING HAS BEEN VERY PRONOUNCED AND THUS STANDING INCREASES DRAMATICALLY.

ALL OF THIS WAS ACCOMPLISHED DESPITE OUR GAIN IN PRICE  TO THE TUNE OF $9.40

WE HAD 321 CONTRACTS REMOVED FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL

NET GAIN ON THE TWO EXCHANGES 26,844 CONTRACTS OR 2,684,400 OZ (83.50 TONNES)

confirmed volume WEDNESDAY 262m816 contracts: fair ////nobody wishes to play with the crooks

//speculators have left the gold arena

END

/ /// THE JAN 2025 GOLD CONTRACT

JAN 15

INITIAL

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	nil           .     482.265 oz JPMorgan 15 kilobars
Deposit to the Dealer Inventory in oz	I) Into Brinks dealer; 53,049.150 oz (1650 kilobars)
Deposits to the Customer Inventory, in oz	i)330,356.525 JPM ii) 96,453.000 oz (LOOMIS) 3000 kilobars iii) 196,728.113 of Manfra total 623,569.789 oz 19.39 tonnes customer total deliver and customer deposit: 21.04 tonnes
No of oz served (contracts) today	1295 notice(s) 129500 OZ 4.028 TONNES
No of oz to be served (notices)	612 contracts    61200 OZ 1.903 TONNES
Total monthly oz gold served (contracts) so far this month	9109 notices 910900 oz 28.333TONNES
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: 1

i) Into Brinks dealer: 53,049.150 oz (1650 kilobars)

total dealer deposits: 53,049.150 oz

we have 3 customer deposits

i)330,356.525 JPM

ii) 96,453.000 oz (LOOMIS)
3000 kilobars
iii) 196,728.113 of Manfra

total 623,569.789 oz
19.39 tonnes customer
total deliver and customer deposit: 21.04 tonnes

withdrawals: 1

482.265 oz
JPMorgan 15 kilobars

adjustments:3/customer to dealer

i) Out of Brinks 32,247.453 oz (1003 kilobars)
ii) Out of JPMorgan 160,690..698 oz(4998 kilobars)

iii) Out of Manfra: 20,617.387 oz

total customer to dealer: 6.64 tonnes

thus basically what comes into eligible is transferred to dealer accounts and then out.

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JAN.

For the front month of JAN: we have an oi of 1907 contracts having GAINED 273 contracts. We had a strong 365 contract issuance on TUESDAY. Thus ANOTHER HUGE QUEUE JUMP (GAIN) of 638 contracts on our two exchanges. (63800 oz or 1.984 tonnes). THIS IS CENTRAL BANKERS STANDING FOR PHYSICAL GOLD WITH LONDON VAULTS RUNNING OUT OF PHYSICAL TO SUPPLY THEM.

FEBRUARY LOST 5749 CONTRACTS TO 282,448 AS IT BEGINS ITS COUNTDOWN BEFORE FIRST DAY NOTICE (JAN 31.2025) EXPECT A WOPPER OF A FEB DELIVERY MONTH.

MARCH HAD A GAIN OF 1991 CONTRACTS UP TO 6515

APRIL HAD A GAIN OF 20,847 CONTRACTS UP TO 163,926 CONTRACTS

We had 1295 contracts filed for today representing 129,500 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 1295 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 762 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for JAN /2025. contract month, we take the total number of notices filed so far for the month (9109 x 100 oz ) to which we add the difference between the open interest for the front month of  JAN(1907 CONTRACTS)  minus the number of notices served upon today  (1295 x 100 oz per contract) equals  972,100 OZ  OR 30.236 TONNES. to which we add those criminal exchange for risk issuance of .4665 TONNES (JAN 8) AND 5.28775 tonnes/JAN 6//TOTAL EXCHANGE FOR RISK = 5.753 TONNES. THUS NEW STANDING FOR GOLD AT THE COMEX FOR JAN IS 30.236 TONNES PLUS 5.753 TONNES EX FOR RISK = 35.989 TONNES

thus the INITIAL standings for gold for the JAN contract month:  No of notices filed so far (9109 x 100 oz +we add the difference for front month of JAN (1907 OI} minus the number of notices served upon today (1295 x 100 oz which equals  972,100 oz (30.236 TONNES) + 5.753 tonnes ex for risk ( JAN 6 AND 8TH) = 35.989 tonnes

TOTAL COMEX GOLD STANDING FOR JAN.: 35.989 TONNES WHICH IS HUGE FOR THIS  NON ACTIVE DELIVERY MONTH IN THE CALENDAR. 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 2,137,828.584  oz 66.49 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 23,274,190.439 OZ  

TOTAL REGISTERED GOLD 10,589,412.641 or 329 tonnes

TOTAL OF ALL ELIGIBLE GOLD: 12,684,777.798 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,451,584 oz (REG GOLD- PLEDGED GOLD)= 262.879 tonnes //

JPMorgan enhanced inventory is 3.511 million oz

END

SILVER/COMEX

JAN 15. 2025

INITIAL

//2025// THE JAN 2025  SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	a) Out of Delaware: 1972.400 oz ii) Out of HSBC 50,347.65 total 52,320.05 oz .
Deposits to the Dealer Inventory	101,924.54 oz Brinks
Deposits to the Customer Inventory	i) Into ASHAI 611,563.100 oz ii) Into HSBC: 50,580.255 oz iii) Into Delaware 977.40 oz total deposit 1,160,169.095 oz
No of oz served today (contracts)	32 CONTRACT(S)    (160,000 OZ)
No of oz to be served (notices)	90 contracts  (0.450 MILLION oz)
Total monthly oz silver served (contracts)	1840 Contracts  (9.200 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

deposits:3

i) Into ASHAI 611,563.100 oz
ii) Into HSBC: 50,580.255 oz
iii) Into Delaware 977.40 oz

total deposit 1,160,169.095 oz

WITHDRAWALS

a) Out of Delaware: 1972.400 oz
ii) Out of HSBC 50,347.65
total 52,320.05 oz

total withdrawal: 52,320.05 oz

ADJUSTMENT 1 customer to dealer CNT

i) 49,830.00 oz

JPMorgan has a total silver weight: 135.536million oz/328.799million  or 41.05%

TOTAL REGISTERED SILVER: 71.804 MILLION OZ//.TOTAL REG + ELIGIBLE. 328.799 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JANUARY

silver open interest data:

FRONT MONTH OF JAN /2024 OI: 122 OPEN INTEREST FOR A LOSS OF 0 CONTRACT(S).

WE HAD A 32 CONTRACT ISSUANCE ON TUESDAY. THUS WE GAINED 32 CONTRACTS, THAT IS WE HAD A 32 CONTRACT QUEUE JUMP FOR 160,000 OZ

FEBRUARY SAW A GAIN 0F 14 CONTRACTS TO STAND AT 994

MARCH SAW A LOSS OF 956 CONTRACTS DOWN TO 114,416

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 32 for 160,000 oz

CONFIRMED volume; ON TUESDAY 47,517 poor//

To calculate the number of silver ounces that will stand for delivery in JAN we take the total number of notices filed for the month so far at 1840x 5,000 oz = 9.200 MILLION oz 

to which we add the difference between the open interest for the front month of JAN (122) and the number of notices served upon today (32)x (5000 oz)

Thus the  standings for silver for the JAN 2025 contract month:  1840 Notices served so far) x 5000 oz + OI for the front month of JAN(122) minus number of notices served upon today (32)x 5000 oz equals silver standing for the JAN contract month equating to 9.650 MILLION OZ. 

 New total standing: 9.650 million oz.

There are 71.804 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//

JAN 15  WITH GOLD UP $24.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 2.01 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 872.52 TONNES

JAN 14  WITH GOLD UP $9.40 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 2.29 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 874.53 TONNES

 JAN 13  WITH GOLD DOWN $27.75 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A DEPOSIT OF 5.74 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 876.82 TONNES

JAN 10  WITH GOLD UP $17.80 ON THE DAY; NO CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 871.08 TONNES 

 JAN 9  WITH GOLD UP $13.85 ON THE DAY; NO CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 871.08 TONNES

JAN 8  WITH GOLD UP $5.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 871.08 TONNES

JAN 7  WITH GOLD DOWN $14.50 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

JAN 6  WITH GOLD DOWN $4.90 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

JAN 3  WITH GOLD DOWN $14.00 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

JAN 2  WITH GOLD UP $29.40 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

 DEC  31  WITH GOLD UP $20.60 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

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

GLD INVENTORY: 872,52 TONNES, TONIGHTS TOTAL

SILVER

JAN 15 WITH SILVER UP $0.79 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.745 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 464.863 MILLION OZ

JAN 14 WITH SILVER UP $0.15 //SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.228 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 460.218 MILLION OZ

JAN 13 WITH SILVER DOWN $0.69 //NO CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.637 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 459.990 MILLION OZ

JAN 10 WITH SILVER UP $0.19 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.484 MILLION OZ OUT OF THE SLV//INVENTORY AT SLV RESTS AT 459,353 MILLION OZ

JAN 9 WITH SILVER UP $0.08 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.484 MILLION OZ OUT OF THE SLV//INVENTORY AT SLV RESTS AT 459,353 MILLION OZ

 JAN 8 WITH SILVER DOWN $0.01 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.484 MILLION OZ OUT OF THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

 JAN 7 WITH SILVER UP 48 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.709 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

JAN 6 WITH SILVER UP 38 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.709 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

JAN 3 WITH SILVER UP 17 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.709 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

JAN 2 WITH SILVER UP 45 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.616 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 462.128 MILLION OZ

DEC 31 WITH SILVER DOWN 14 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY AT SLV RESTS AT 460.512 MILLION OZ

DEC 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

CLOSING INVENTORY 460.218 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

JOHN RUBINO

3. CHRIS POWELL AND GATA DISPATCHES

NONSENSE! Besides the bankers have hypothecated our 260 million oz by 100 fold.

It will never happen

(New York Sun)

New York Sun: The coming raid on Fort Knox

Submitted by admin on Tue, 2025-01-14 20:12 Section: Daily Dispatches

From the New York Sun
Tuesday, January 14, 2025

https://www.nysun.com/article/the-coming-raid-on-fort-knox

The news today is that the incoming Trump administration is hearing talk about selling the gold at Fort Knox. Our advice is to get on the phone right now and call Edwin Vieira, Jr., author of the definitive volume “Pieces of Eight.” That’s what we did last time we heard talk — it was in Congress — about selling the gold at Fort Knox. When he came to the phone we asked him, “Ed, do you think America should sell the gold in Fort Knox?”

“Don’t use the word ‘sell,'” Mr. Vieira exploded over the blower. 

He was so alarmed we almost dropped the phone. Then we asked what was the problem.

He was so alarmed we almost dropped the phone. Then we asked what was the problem.

“You don’t sell gold,” Mr. Vieira said “You spend it.” 

We got the point, but Mr. Vieira pressed it anyhow. “Don’t you see,” he boomed. “Gold is the money.”

The talk today of selling gold is part of a proposal to rectify the imbalances in global trade, like China’s record-high surplus. It is part of the president-elect’s America First policy. Among the more creative suggestions being floated was spotted by our Ira Stoll at The Editors. The idea, put forward some weeks ago by Trump’s pick to head the Council of Economic Advisers, Stephen Miran, is to deploy America’s gold reserves to devalue the dollar. 

Gold reserves tend to bolster the value of currencies. Yet Mr. Miran sees selling gold — of which Uncle Sam holds some 260 million ounces — as a means to weaken, not strengthen, the dollar. “While many analysts believe there are no tools available to unilaterally address currency misvaluation, that is not true,” he writes. One way to do it, Mr. Miran says, is to  “accumulate foreign exchange reserves,” boosting the value of other nations’ fiat currencies.

Here’s where gold factors in. “The Gold Reserve Act,” he writes, allows the Treasury “Secretary to sell gold” in the way “the Secretary considers most advantageous to the public interest.” Mr. Miran sees this as “providing additional potential funds for building foreign exchange reserves.” Note, though, the emphasis on the verb “sell,” the use of which reflects a misconception about the nature of money.

This point was marked in 2013 by a Sun editorial headlined “Speaking of Money.” The editorial was prompted by talk in the press about the “value” of gold. “To the ears of a copy editor of the Sun, this is like the screech of chalk pushed the wrong way on a blackboard,” we noted. That’s because, in the Sun’s stylebook, “the value of gold is, in practical terms, constant.” More noteworthy is “the value of the dollar. That’s what does all the changing.”

So the Sun does not refer to “the price of gold” but the “value of the dollar,” which, incidentally, stands at less than a 2,600th of an ounce in today’s trading. Gold, not the dollar, “is the measure of value.” Plus, too, when it comes to gold, the Sun eschews using the verb “to sell.” That’s in contrast to the idea that “gold is a ‘commodity’ or an ‘asset,'” we noted. “This fits fine in an era of fiat money.” Hence Mr. Vieira’s brilliant point. 

Which brings us back to Mr. Miran’s proposal to devalue the dollar by “selling” gold. He concedes it “could be politically costly,” even if it would “result in income” for Uncle Sam. Mr. Stoll reckons that the “problem” with Mr. Miran’s idea is that even if politicians “try to fix prices, there are free-market signals, such as the price of the dollar against gold, Bitcoin, groceries, or real estate, that eventually provide a true indication of a dollar’s value.”

Mr. Miran sees “a reduction in the value of the dollar” as helping “create manufacturing jobs in America” as it “reallocates aggregate demand from the rest of the world to the U.S.” Mr. Stoll replies that if Americans “get the idea that their dollars will be worth less” due to Trump’s moves, “there’s a risk that they will move money out of dollars and into other assets.” Inflation would ensue. Mr. Stoll calls it “a costly policy, in whatever units it is measured.” 

* * *

END

ANDREW MAGUIRE A MUST MUST VIEW…YOUTUBE/KINESIS LIVE FROM THE VAULT 205

/LIVE FROM THE VAULT 205

end

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

END 

end

6 CRYPTOCURRENCY NEWS

Italy’s Largest Bank Makes Its First Bitcoin Purchase In $1 Million “Test”

Wednesday, Jan 15, 2025 – 02:45 AM

Italy’s biggest bank, Intesa Sanpaolo, has made history by becoming the first Italian financial institution to buy 11 bitcoins for a “test” purchase worth $1 million.

Initially a widespread rumor, Bloomberg has confirmed that Italy’s largest banking giant has indeed dipped its toes in Bitcoin.  According to an internal memo, the financial institution completed its first proprietary Bitcoin trade, investing the funds into the world’s largest digital currency.

“It’s very small amounts, considering we have 100 billion euros in our securities portfolio,” Intesa CEO Carlo Messina told reporters on the sidelines of an event in Milan on Tuesday. “It’s an experiment, a test.”

Intesa set up a proprietary trading desk for digital assets in 2023 and started handling spot trades with cryptos last year.

The news first surfaced when the bank’s employees leaked an internal email on the image-sharing platform 4Chan. Following the leak, Niccolo Bardoscia, Intesa Sanpaolo’s head of digital assets trading and investment, officially confirmed the acquisition in an email to the media, revealing that the bank now holds 11 BTC.

While Bardoscia confirmed the purchase, the executive did not reveal exactly why the bank had acquired BTC. Therefore, it is still unclear if the purchase was to diversify Intesa Sanpaolo’s investment portfolio or if it was a pilot to offer crypto services, according to CryptoRank.

The acquisition is not the bank’s first foray into blockchain. In July last year, Intesa Sanpaolo pioneered a $25.7 million digital bond issuance on the Polygon network in collaboration with state-owned bank Cassa Depositi e Prestiti SpA. In addition, Intesa Sanpaolo broadened its crypto desk to allow  spot trading. Before then, it only offered clients crypto options, futures, and exchange-traded funds (ETFs).

Intesa Sanpaolo’s purchase came as Europe eased regulations. The Markets in Crypto Assets (MiCA) regulatory guideline came into full effect in December, a milestone that’s expected to pave the way for more digital-asset adoption among financial companies.

While Intesa is currently only prop trading — buying and selling using its own balance sheet rather than on behalf of clients — the crypto desk’s activities fit with the bank’s broader blockchain projects, and it may be a stepping stone for eventually trading digital assets for institutional customers.

“We won’t become a Bitcoin provider but we need to know how to do so if our bigger clients ask us to,” Messina told reporters on Tuesday.

Intesa carried out the Bitcoin purchase through Boerse Stuttgart Digital’s institutional trading platform, a spokesperson from the German exchange group said in a statement.

After rallying in the wake of Donald Trump’s US election win in early November, Bitcoin and other cryptocurrencies have had a shaky start to the year, hurt by concerns that persistent inflation will curtail the Federal Reserve’s monetary policy easing.

Bitcoin briefly slid below $90,000 on Monday — a drop of almost 5% from the start of 2025 — before a rebound that left it slightly up for January. The largest cryptocurrency soared to a record high of $108,316 last month.

This BTC acquisition signals a shift in sentiment within Italy. As the country’s largest bank leads the way, other financial institutions may follow suit, potentially accelerating adoption.

The move stands out in Italy, where the central bank governor, Fabio Panetta, has consistently cautioned against digital assets like Bitcoin and Ethereum, describing them as “unsecured.”

That said, the bank has a long way to go to catch up with its US peers: BlackRock, the world’s largest asset manager, has amassed $51 billion in assets in the spot Bitcoin ETF it launched a year ago, and is pushing to have its money-market digital coin more widely used as collateral for crypto derivatives trades. JPMorgan is preparing to offer instant settlement for foreign-exchange conversions between the dollar and the euro through its blockchain platform.

Meanwhile, Bitcoin’s value continues to surge, with optimism growing about easing regulatory hurdles under incoming U.S. President Donald Trump. Some analysts expect it to more than double in value by the end of this year.

END

ASIA TRADING WEDNESDAY MORNING  TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 13.82 PTS OR 0.43%

//Hang Seng CLOSED UP 66.29 PTS OR 0.34%

// Nikkei CLOSED DOWN 29.72 OR 0.08%//Australia’s all ordinaries CLOSED DOWN 0.18%

//Chinese yuan (ONSHORE) CLOSED UP TO 7.3316 CHINESE YUAN OFFSHORE CLOSED UP TO 7.3427// Oil DOWN TO 78,06 dollars per barrel for WTI and BRENT DOWN AT 80.18 Stocks in Europe OPENED ALL GREEN

ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING A

STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

ONSHORE YUAN:   CLOSED UP AT 7.3316

OFFSHORE YUAN: DOWN TO 7.3427

SHANGHAI CLOSED CLOSED DOWN 13.82 PTS OR 0.43%

HANG SENG CLOSED CLOSED UP 66.29 PTS OR 0.34%

2. Nikkei closed DOWN 29.72 OR 0.08%

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX DOWN TO  108.95 EURO FALLS TO 1.0301 DOWN 5 BASIS PTS HEADING TO PARITY WITH USA

3b Japan 10 YR bond yield: RISES TO. +1.251 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 156.99…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

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

3e Gold UP /JAPANESE Yen 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 DOWN 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 +2.5935 Italian 10 Yr bond yield DOWN to 3.773 //SPAIN 10 YR BOND YIELD DOWN TO 3.273

3i Greek 10 year bond yield DOWN TO 3.431

3j Gold at $2686.45 /Silver at: 30.05  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 54/100  roubles/dollar; ROUBLE AT 102.77

3m oil into the 78 dollar handle for WTI and  80 handle for Brent/

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 156.99  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.251% 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 0.9099 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9398 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: 4.759 DOWN 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.953. DOWN 3 BASIS PTS/

USA 2 YR BOND YIELD:  4.354 DOWN 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 35.49…

10 YR UK BOND YIELD: 4.8470 DOWN 9 PTS

10 YR CANADA BOND YIELD: 3.551 UP 1 BASIS PTS

5 YR CANADA BOND YIELD: 3.286 UP 1 PTS.

2a New York OPENING REPORT

Futures Rise With All Eyes On “Pivotal” CPOI

Wednesday, Jan 15, 2025 – 08:25 AM

US equity futures are higher, led by small-caps with the rally strengthening after the cooler than expected UK CPI print. As of 8:20am, S&P and Nasdaq futures are up 0.4%, with banking shares advancing in premarket trading after markets inched out a positive close on Tues following firm underlying PPI components & yields continuing to march higher. BlackRock, Bank of New York Mellon, JPMorgan and Goldman Sachs all beat estimates for the fourth quarter, with trading revenues performing strongly. All Mag7 names are also higher. Otherwise, it’s fairly quiet from a headline perspective overnight into CPI, although US reportedly will unveil more regulations to prevent advanced chips from being sold to China, with the planned rules, targeting producers TSMC, Samsung, and Intel. Bond yields are down 1-2bps as the USD is being offered, largely a function of yen strength following comment from BoJ Governor Ueda who said the BoJ will raise rates and adjust the degree of monetary support if improvement in the economy and price conditions continues, while he added that he wants to discuss and decide whether to raise rates at next week’s policy meeting. In commodities, Energy and Metals are leading the complex higher.  Today’s focus is on CPI/Bank Earnings but keep an eye on the Beige Book release.

In premarket trading, Mag 7 names were mostly higher: Alphabet (GOOGL) +0.6%, Amazon (AMZN) +0.5%, Apple (AAPL) +0.4%, Microsoft (MSFT) +0.2% , Meta Platforms (META) +0.7%, Nvidia (NVDA) +0.1%, and Tesla (TSLA) +0.6%. Here are some other notable premarket movers:

• BlackRock shares gain 2.8% in premarket trading, after it reported adjusted earnings that exceeded analyst expectations in the fourth quarter. Assets under management missed the average analyst estimate. Shares are up 1.8%.
• Goldman Sachs reported FICC sales and trading revenue for the fourth quarter that beat the average analyst estimate.
• JPMorgan shares are little changed after the bank recorded 4Q FICC sales and trading revenue above expectations. The bank also gave a forecast for 2025 net interest income above the average analyst estimate.
• Wells Fargo shares rise 3.26% after the bank reported net interest income for the fourth quarter that beat the average analyst estimate. The bank also forecast an increase in 2025 net interest income, beating analyst expectations.
• BNY Mellon (BK) rises 2% as 4Q profit, net interest income top expectations.
• Amplify Energy (AMPY) gains 2% after agreeing to combine with some Juniper Capital portfolio companies.
• Compass (COMP) gains 8% after the residential real estate brokerage boosted its revenue guidance for the fourth quarter.
• Keros Therapeutics (KROS) falls 13% after the drug developer said it is halting all dosing in a combination trial of its experimental therapy for patients with a lung disorder, citing side effect concerns. Company is also terminating the trial early.
• NeoGenomics (NEO) rises 3% after forecasting revenue for 2025 of $735 million to $745 million.

Traders remain wary of making big bets ahead of the “pivotal” CPI data (our full preview is here), which comes at a time when investors are paring their expectations of rate-cuts from the Federal Reserve. Forecasters predict CPI to show a fifth month of increases, with so-called core CPI up 0.3%. However, hopes of a benign print have been fanned by lower-than-expected US wholesale prices and slowing inflation in Britain.

“We need to see a more welcome print on the inflation front today,” said Laura Cooper, global investment strategist at Nuveen. “Today’s print will be crucial for the near-term price action as it could trigger another leg in the rate selloff, if we see a hotter-than-expected print.”

Equity traders are braced for a volatile day, with options implying moves of 1.1% in either direction for the S&P 500, the most for a CPI day since March 2023. They are also watching to see if 10-year Treasury yields could move closer to the psychologically key 5% level. Treasury 10-year yields slipped about 3.5 basis points to trade around 4.76% and Bloomberg’s dollar gauge extended Tuesday’s 0.4% drop. Thirty-year rates also eased after hitting new highs above 5% in the previous session.

European markets are trading mostly higher (Stoxx 600 index rose 0.7% while London’s FTSE 350 rallied as much as 1.6%) looking to snap a three-day losing streak. Real estate, telecommunication and retail stocks are leading gains. S&P futures rise 0.1% while Nasdaq 100 contracts add 0.2%. Inflation reading from UK unexpectedly dipped to 2.5% versus 2.6% expected. Services inflation at 3-year low, with markets now discounting 50bps of BoE easing in 2025. Germany’s economy shrank for the second consecutive year in 2024, with a 0.2% decline in GDP. Here are some of the biggest movers on Wednesday:

• Bureau Veritas shares gain 3.6%, while SGS slides, after the testing and certification firms said they’re in talks to combine, a deal that would create a company with a market value of more than $33 billion.
• Vistry shares rise as much as 8.6%, helping the housebuilder extend its recent rebound after closing at its lowest level since April 2020 on Monday.
• UK Rate-Sensitive stocks rise as inflation unexpectedly declined for the first time in three months in December, keeping alive hopes of a Bank of England interest-rate cut next month.
• Nordex shares gain as much as 5.1% after the German wind turbine producer’s fourth-quarter orders came in 30% ahead of consensus, according to Citi.
• Genus shares surge as much as 20%, the biggest jump since 2001, after the cattle breeding company said its full-year adj. pretax profit will likely come in at the top-end of forecasts.
• Currys shares jump as much as 14%, rebounding from a one-month low, after the electrical retailer said its annual adjusted pretax profit will top consensus estimates.
• Serco shares rise as much as 3.3% after the outsourcing company won a new contract from the US Army, adding to its recent wins in the US defense market.
• Hays rises as much as 3%, with the company’s warning that adjusted operating profit will be at the low-end of expectations in the first half already baked-in following recent weakness across the staffing industry that has led to consensus downgrades, according to analysts.
• Partners Group shares fall as much as 3.2% after the Swiss private equity firm’s full-year assets under management and fundraising missed consensus estimates.
• Anglo American shares fall as much as 2.3% after RBC downgraded to underperform from sector perform.

Earlier in the session, Asian stocks gained, as a rally in Indonesian shares after a surprise interest-rate cut helped to counter losses in Taiwan and mainland China. The MSCI Asia Pacific Index was up as much as 0.5%, with Japanese banks among the biggest boosts to the gains given expectations that the Bank of Japan will raise interest rates next week. The Jakarta Composite Index climbed 1.8%, the most in Asia, after Bank Indonesia defied market forecasts by cutting its key interest rate. Chinese equities were mixed, with a gauge of mainland-listed shares declining 0.6% while Hong Kong benchmarks ticked higher, as investors gauged local policymakers’ efforts to revive the economy amid the threat of higher US tariffs. The People’s Bank of China injected a near-historic amount of short-term funds into its financial system Wednesday amid a cash squeeze ahead of Lunar New Year holidays.

In rates, UK government bonds jump as traders add to their Bank of England interest-rate cut bets after data showed UK inflation eased more than expected in December. UK 10-year yields fall 8 bps to 4.81%. Treasuries also rise, albeit to a lesser extent with US and German 10-year borrowing costs dropping 2 bps each.

In FX, the pound reaction was choppy with cable printing fresh session highs and lows since the figures hit. It’s settled a few pips higher at ~$1.22. The yen is the notable mover in currency space, rising 0.7% against the greenback after comments from Bank of Japan Governor Ueda and his deputy his deputy strengthened market expectations for a potential interest-rate hike next week. USD/JPY falls to ~156.80. The Bloomberg Dollar Spot Index falls 0.2%.

Oil prices advance, with WTI rising 0.3% to $77.70 a barrel. Spot gold climbs $8 to $2,686/oz. Bitcoin rises above $97,000.

Looking to the day ahead now, and data releases include the US and UK CPI reports for December, along with Euro Area industrial production for November. From central banks, the Fed will release their Beige Book, and we’ll hear from the Fed’s Barkin, Kashkari, Williams and Goolsbee, ECB Vice President de Guindos and the ECB’s Villeroy and Vujcic, and the BoE’s Taylor. Today’s earnings releases include JPMorgan, Goldman Sachs, Citigroup and BlackRock.

Market Snapshot

• S&P 500 futures little changed at 5,886.25
• STOXX Europe 600 up 0.4% to 510.17
• MXAP up 0.3% to 177.03
• MXAPJ little changed at 556.66
• Nikkei little changed at 38,444.58
• Topix up 0.3% to 2,690.81
• Hang Seng Index up 0.3% to 19,286.07
• Shanghai Composite down 0.4% to 3,227.12
• Sensex up 0.3% to 76,735.87
• Australia S&P/ASX 200 down 0.2% to 8,213.27
• Kospi little changed at 2,496.81
• German 10Y yield down 2.6 bps at 2.63%
• Euro little changed at $1.0309
• Brent Futures down 0.2% to $79.75/bbl
• Gold spot up 0.3% to $2,685.95
• US Dollar Index down 0.20% to 109.05

Top Overnight News

• US President-elect Trump announced on Truth Social that Keith Sonderling will serve as the next United States Deputy Secretary of Labor.
• US Treasury Secretary Yellen says the US economy is doing well, but more work needed to invest in infrastructure, labour force and R&D
• Hegseth’s odds of being confirmed as Secretary of Defense jumped after his hearing on Tues (Sen. Ernst came out Tues night and said she would back him for the role, a key endorsement). Politico
• The US is planning to unveil additional regulations designed to keep advanced chips made by TSMC (2330 TT/TSM) and Samsung Electronics (005930 KS) from flowing to China: BBG
• China’s central bank injected a near record-high amount of liquidity into the banking system to help meet demand for cash even as it looks to support the yuan. The People’s Bank of China on Wednesday pumped 959.5 billion yuan, or about $130.9 billion, worth of liquidity via seven-day reverse repurchase agreement and the second highest amount on record. WSJ
• The Bank of Japan will debate whether to raise interest rates next week, Governor Kazuo Ueda said on Wednesday, signaling its intention to take borrowing costs higher barring a Trump-driven market shock. The remarks, which echo those made by BOJ Deputy Governor Ryozo Himino on Tuesday, pushed up the yen as markets continued to price in the chance of a rate hike at the bank’s next policy meeting on Jan. 23-24. RTRS
• South Korean President Yoon Suk Yeol was arrested in a pre-dawn operation for questioning over his martial law move. Yoon can be held for 48 hours and, with a warrant, could be detained for up to 20 days. BBG
• UK inflation undershoots the Street, w/the December headline CPI coming in at +2.5% (vs. the Street +2.6%), core CPI at +3.2% (vs. the Street +3.4%), and services CPI +4.4% (vs. the Street +4.8%). RTRS
• Germany’s economy shrank 0.2% in 2024, as expected, marking the first time GDP fell for two years in a row since 1950. BBG
• Global oil markets face a surplus of 725,000 b/d this year, smaller than an earlier forecast, amid stronger demand and new risks to supply, the IEA said. BBG
• Equal-weight S&P ETF sees a spike of inflows as investors worry about the market being increasingly imbalanced due to huge gains from mega-cap tech stocks. The Invesco S&P 500 Equal Weight exchange traded fund took in about $14.4bn in the second half of 2024, and $17bn for the total year. FT

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were choppy after a similar performance stateside where PPI data printed cooler-than-expected ahead of the incoming US CPI report. ASX 200 failed to sustain early gains with upside in consumer stocks, real estate and financials offset by losses in tech and miners. Nikkei 225 faded its opening advances with price action indecisive amid a lack of notable drivers and ongoing uncertainty regarding BoJ policy. Hang Seng and Shanghai Comp were softer as trade frictions lingered with the US finalising rules to effectively ban Chinese vehicles and it also banned imports for over 30 entities over Uyghur forced labour, while China placed 7 US firms on the unreliable entity list for involvement in arms sales to Taiwan. Nonetheless, some of the downside was stemmed following the PBoC’s firm liquidity effort in which it conducted a CNY 960bln 7-day reverse repo operation.

Top Asian News

• BoJ Governor Ueda said they will raise rates and adjust the degree of monetary support if improvement in economy and price conditions continues, while he wants to discuss and decide whether to raise rates at next week’s policy meeting. Furthermore, he said the US economy and momentum towards Spring wage talks are key points and noted that the branch managers’ meeting showed an encouraging view on pay, as well as stated that the timing of adjusting monetary policy is up to future economy, price and financial conditions.
• South Korean authorities have arrested impeached President Yoon, while Yoon said it is deplorable to see a series of illegal acts of law enforcement including his arrest and noted he agreed to attend investigators’ questioning to prevent bloodshed despite its illegality.

Top European News

• ECB’s Lane said they are essentially still in economic recovery mode and Eurozone GDP grew 1.1% in 2024, while they will have some improvement in investment in 2025 and the savings rate will come down in Eurozone though not massively. Furthermore, Lane said the labour market is resilient for now and services inflation will come down in the coming months, as well as noted that if inflation stabilises around 2%, rates will go to neutral.
• ECB’s de Guindos says the disinflation process is well on track. The balance of macroeconomic risks has shifted from concerns about inflation to concerns about low growth. The high level of uncertainty calls for prudence in setting rates. Severe global trade frictions could increase the fragmentation of the world economy. Uncertainty about fiscal policy and its present challenges could weight on the borrowing costs. Will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. The risks to economic growth remain tilted to the downside. Not committing to any particular rate path.
• ECB’s Villeroy says practically won battle against inflation; on France, says risks to 0.9% French growth forecast for 2025 are on the downside, but we do not see a recessionGovernment needs to detail savings and tax measures needed to achieve its new deficit forecasts of 5.4% of GDP this year.
• Riksbank’s Bunge says making it easier to borrow will not solve challenges in the housing market. Economy is close to a turning point but risks remain. Sweden is in a mild recession but 2025 outlook is favourable. Forecast is that rates may be cut one more time during H1 2025; judges that it is better to cut in the near term rather than wait.
• Germany Economy Minister says outlook for exports is modest; consumer recovery not in sight. Inflation dampening factors should dominate over the course of the year.

FX

• DXY is lower, largely as a by-product of JPY strength in the run up to US CPI data. On which, headline US CPI is expected to rise +0.3% M/M in December. The release follows hot on the heels of yesterday’s softer-than-expected outturn for PPI. DXY has returned to a 108 handle with a session trough at 108.96.
• EUR is flat vs. the USD as EZ-specific drivers remain light aside from various ECB commentary. On which, ECB’s de Guindos has been on the wires noting that the disinflation process is well on track. EUR/USD is currently treading water above the 1.03 mark vs. yesterday’s 1.0238 low. The next upside target comes via the 9th Jan high at 1.0321.
• JPY is the clear outperformer across the majors following comment from BoJ Governor Ueda who said the BoJ will raise rates and adjust the degree of monetary support if improvement in the economy and price conditions continues, while he added that he wants to discuss and decide whether to raise rates at next week’s policy meeting. USD/JPY has slipped onto a 156 handle for the first time since 6th January; current session low at 156.72 vs YTD trough at 156.23.
• GBP marginally weaker vs. peers following soft UK inflation metrics which saw Y/Y CPI print @ 2.5% vs. Exp. 2.6%, core Y/Y 3.2% vs. Exp. 3.4%, services 4.4% vs. exp. 4.9% and MPC 4.7%. Typically, such a soft outturn would trigger more pronounced softness in GBP. However, given concerns surrounding the UK’s fiscal position, the subsequent pullback in yields has been seen as a positive for the domestic economy. Price action for the GBP was relatively choppy, with a brief dip reversed to a session high of 1.2241; upside which faded a touch to current 1.2219.
• Antipodeans are both marginally firmer vs. the USD alongside a quiet antipodean calendar. AUD is now up for a third session in a row after printing a multi-year low on Monday at 0.6130.
• PBoC set USD/CNY mid-point at 7.1883 vs exp. 7.3240 (prev. 7.1878).

Fixed Income

• USTs are in the green and just off the session highs of 107-16+. Yields lower across the curve with the long-end leading and the curve as a whole flattening a touch. The session’s main event is US CPI, the headline M/M is expected to remain at 0.3%.
• Gilts were inflated by 68 ticks at the open and have since lifted to a 90.19 peak. From the data, the main point of focus is on the Services metric which eased below market and BoE forecasts to the lowest rate since March 2022 – this led market pricing to shift dovishly. The jump in Gilts has sparked an associated pullback in yields with the 10yr moving from 4.89% at end-of-play on Tuesday to a 4.80% low this morning.
• Modest two-way action on the UK’s 2034 auction results but with Gilts ultimately coming under some very modest pressure and veering back towards the 90.00 handle – despite a decent outing.
• JGBs came under pressure overnight after remarks from BoJ Governor Ueda in which he said he wants to discuss and decide on whether to increase rates at the January meeting. More broadly, he added that the US economy and momentum towards Spring wage talks are key points and branch managers’ views on the latter have been encouraging. Remarks which took a 140.55 low, just above the week’s 140.51 base, posting downside of a handful of ticks.
• Bunds are firmer on the session in-fitting with global peers. 2024 growth data for Germany was bleak as expected with the prelim. figures pointing to a consecutive year of contraction. Furthermore, forward-looking remarks from the Economy Ministry were also downbeat. At the top-end of a 130.32-74 band, if the upside continues then we look to 130.98 from Monday before the WTD high at 131.09.
• UK sells GBP 4bln 4.25% 2034 Gilt Auction: b/c 2.80x (prev. 2.87x), avg yield 4.808% (prev. 4.332%) & tail 0.9bps (prev. 1.3bps).
• Germany sells EUR 1.19bln vs exp. EUR 1.5bln 2.50% 2054 Bund and EUR 0.754bln vs exp. EUR 1bln 1.80% 2053 Bund.

Commodities

• Crude price action has been choppy today with participants awaiting US CPI for a larger impulse, although geopolitical risks remain as Russia and Ukraine target each others’ energy infrastructure whilst an Israel-Hamas ceasefire deal is seemingly imminent, although sticking points remain. Some weakness in the complex was seen after the EIA OMR, which trimmed its 2025 world oil demand growth forecast. Brent Mar sits in a 79.62-80.64/bbl parameter at the time of writing.
• Modest gains for precious metals with prices supported by a softer Dollar and a lack of macro newsflow at the time of writing. Spot gold currently resides in a USD 2,669.36-2,688.56/oz range.
• Mixed trade across base metals with copper prices indecisive since APAC trade amid the mixed and choppy sentiment seen across global markets.
• Private inventory data (bbls): Crude -2.6mln (exp. -1.0mln), Distillate +4.9mln (exp. +0.8mln), Gasoline +5.4mln (exp. -2mln), Cushing +0.6mln.
• EU is considering a gradual ban on Russian LNG and aluminium, according to Bloomberg. It was earlier reported that the EU Commission intends to propose a ban on imports of Russian primary aluminium in the latest package of sanctions.
• IEA OMR: Trims 2025 world oil demand growth forecast to 1.05mln BPD (prev. 1.1mln BPD); says new US sanctions on Russia could significantly disrupt Russian oil supply and distribution chains. Global oil supply is projected to rise by 1.8mln BPD in 2025 to 104.7mln BPD, compared with an increase of 660k BPD in 2024. While it is too early to fully quantify the potential impact from these new measures, some operators have reportedly already started to pull back from Iranian and Russian oil.
• Russia to provide crude oil and LNG to Vietnam, according to a statement cited by Reuters.
• India’s December Gold imports at USD 4.7bln, according to Trade Ministry.
• Russia’s Kremlin says possible EU sanctions on Russian aluminium could destabilise an “already fragile market”. Says “nothing can be ruled out” when it comes to Russia’s response to the latest US sanctions on the energy sector.

Geopolitics: Middle East

• “Security sources: The IDF has not been instructed to change the methods of fighting in Gaza despite the progress of negotiations”, according to Al Jazeera.
• Israel gov’t has reportedly set new conditions which could undermine the Gaza negotiations, via Sky News Arabia citing sources; among those is that the Israeli Army would remain 700 metres into Rafah.
• White House National Security Adviser Sullivan said hopefully we will close out a Gaza hostage deal this week, while he also commented that Iran’s weakness is a concern because it may force them to rethink nuclear weapons posture.
• Iranian President Pezeshkian said Iran never plotted to kill Trump during the US election campaign and will never do that, according to NBC News.
• “Iranian Vice President: We discovered Israel’s planting of explosives inside centrifuges”, according to Al Arabiya.

Geopolitics: Ukraine

• Russian Defence Ministry say they have struck critical energy infrastructure in Ukraine.
• Ukrainian President Zelensky says Russia targeted Ukraine’s gas infrastructure in air strikes today.
• Russia said its forces captured two settlements in eastern Ukraine.

Geopolitics: Otter

• US President-elect Trump’s incoming National Security Adviser Waltz said he wants to deal with the backlog of weapons to Taiwan.

US event calendar

• 07:00: Jan. MBA Mortgage Applications, prior -3.7%
• 08:30: Dec. CPI MoM, est. 0.4%, prior 0.3%
• 08:30: Dec. CPI YoY, est. 2.9%, prior 2.7%
• 08:30: Dec. CPI Ex Food and Energy MoM, est. 0.3%, prior 0.3%
• 08:30: Dec. CPI Ex Food and Energy YoY, est. 3.3%, prior 3.3%
• 08:30: Dec. Real Avg Hourly Earning YoY, prior 1.3%
• 08:30: Dec. Real Avg Weekly Earnings YoY, prior 1.0%, revised 0.9%
• 08:30: Jan. Empire Manufacturing, est. 3.0, prior 0.2
• 14:00: Federal Reserve Releases Beige Book

DB’s Jim Reid concludes the overnight wrap

Welcome to a big US CPI day with the added sprinkle of UK CPI (out just after this hits the press) and the start of US Q4 earnings season to contend with. A selection of large US financials, including JPM, Goldman Sachs, Citigroup and Blackrock report.

We arrive at this big day with markets a little trepidatious. After signs of a rebound in equities on Monday and global bonds into the Asian and early European session yesterday, the rest of the day was a little over all the place. Similarly to Monday, the S&P 500 (+0.11%) climbed from earlier losses with a broad number of advancers narrowly outweighing tech weakness. Meanwhile bond yields mostly edged higher to, in many cases, fresh multi-month or multi-year highs. For instance, the 10yr Treasury yield (+1.3bps to 4.79%) closed at its highest since October 2023, whilst the 30yr real yield (+1.8bps) hit another post-2008 high of 2.61%. 30yr gilts (5.45%) hit another 27-year high. To be fair it wasn’t all bad news, and a downside surprise in the US PPI reading made a change from the consistently hawkish newsflow over recent days. But even there, the details weren’t as positive on further inspection.

In terms of that PPI release, the main numbers all surprised on the downside, which triggered a reflexive move lower in Treasury yields straight afterwards. In particular, headline PPI inflation was running at a monthly pace of +0.2% (vs. +0.4% expected), which meant the year-on-year rate only rose to +3.3% (vs. +3.5% expected). Core PPI was also lower than expected, with the measure excluding food, energy and trade services up just +0.1% (vs. +0.3% expected). But as markets began to inspect the numbers in a bit more depth, it became clear that the components which feed into PCE (the Fed’s target measure) were more robust. One notable upside surprise came on airfares, which rose by a monthly +7.2% in December. So that limited the scale of the rally in Treasuries, as ultimately the Fed are looking for 2% inflation on the PCE measure, rather than CPI or PPI.

In terms of what to expect today, our US economists are projecting headline CPI to come in at a monthly +0.40%, thanks to strong seasonally adjusted gains in food and energy prices. If realised, that would be the fastest pace in 10 months, and push up the year-on-year rate by two-tenths to 2.9%. However, they see core falling to +0.23%, the slowest pace in five months, which would keep the year-on-year rate steady at 3.3%.

With the PPI release in hand, and even with the long-end sell-off, there was a bit more confidence, or maybe hope, that the Fed would still manage to cut rates this year. So that meant the 2yr Treasury yield (-1.3bps) pared back its initial increase yesterday to close at 4.37%. But other than front-end US Treasury yields, the overwhelming trend was still towards higher borrowing costs in both the US and Europe yesterday.

For once, the UK saw a comparatively smaller increase, with the 10yr gilt yield only up +0.5bps to 4.89%. But even so, that was still the highest 10yr yield since 2008, whilst the 30yr gilt yield (+1.2bps) hit a post-1998 high of 5.45%. That means all eyes are now on the UK CPI report this morning. Meanwhile in Germany, 10yr bund yields (+3.8bps) moved up for a 9th consecutive session, and reached their highest level since June at 2.65%.

In France, there were some fresh announcements on the budget as Prime Minister François Bayrou spoke to the National Assembly. Specifically, Bayrou said that he would aim for a 2025 deficit at 5.4% of GDP, which is a bit higher than Barnier’s budget which had sought to bring down the deficit to 5% of GDP this year. However, Bayrou is still planning to keep the target of reducing the deficit to 3% by 2029. When it came to French bonds, the rise in yields was in keeping with the global moves, with the 10yr yield (+1.3bps) at its highest since October 2023, at 3.47%.

When it came to equities, the S&P 500 (+0.11%) posted a narrow advance after an up-and-down session. The broader equity mood was more positive as the equal-weighted S&P 500 gained +0.78% with three quarters of the index’s constituents higher on the day. And the small-cap Russell 2000 advanced +1.13%. On the other hand, the Magnificent 7 (-1.02%) fell back for a 5th consecutive session. Weakness was also visible in healthcare stocks (-0.94%) after underwhelming Q4 results from pharma giant Eli Lilly (-6.59%). Meanwhile in Europe, the STOXX 600 (-0.08%) lost ground for a third consecutive session. This was also mostly driven by healthcare (-1.35%), while geographically UK equities underperformed, with the FTSE 100 falling -0.28%. By contrast, Germany’s DAX (+0.69%), France’s CAC 40 (+0.20%) and Italy’s FTSE MIB (+0.93%) all posted decent gains.

In geopolitical news, prospects for a ceasefire in Gaza look to be improving, with CBS reporting yesterday evening that Israel and Hamas had agreed in principle to a draft deal while Qatari officials mediating the talks said that a ceasefire was at its “closest point” yet. The headlines helped oil prices retreat from their near 5-month highs, with Brent crude down -1.35% to $79.92/bbl, and saw the broad dollar index (-0.62%) decline for the first time in six sessions.

Asian equity markets are generally a bit lower this morning. The Nikkei (-0.25%) has been swinging between gains and losses while the Shanghai Composite (-0.46%), S&P/ASX 200 (-0.22%) and KOSPI (-0.15%) are also lower. The Hang Seng is flat alongside S&P futures with NASDAQ futures up a tenth of a percent. 10yr US yields are rallying -1.8bps. Overnight reports suggest the Biden administration is planning one last round of regulations tightening up the flow of advanced chips to China which could be announced today.

In central bank news, the People’s Bank of China (PBOC) injected significant amount of funds into its financial system, marking the second highest on record in data compiled by Bloomberg since 2004. The central bank pumped a net +958.4 billion yuan ($131 billion) via 7-day reverse repurchase agreement during daily open market operations. This seemingly is aimed at offsetting facilities rolling off, peak tax season and cash demand ahead of the upcoming Lunar New Year holidays.

There wasn’t much in the way of other data yesterday, but the NFIB’s small business optimism index from the US was up to a 6-year high of 105.1 in December (vs. 102.1 expected).

To the day ahead now, and data releases include the US and UK CPI reports for December, along with Euro Area industrial production for November. From central banks, the Fed will release their Beige Book, and we’ll hear from the Fed’s Barkin, Kashkari, Williams and Goolsbee, ECB Vice President de Guindos and the ECB’s Villeroy and Vujcic, and the BoE’s Taylor. Today’s earnings releases include JPMorgan, Goldman Sachs, Citigroup and BlackRock.

2B) EUROPEAN REPORT

USD softer ahead of US CPI, Gilts gap higher on cooler UK inflation – Newsquawk US Market Open

Wednesday, Jan 15, 2025 – 06:07 AM

• Stocks hold modest gains, FTSE 100 outperforms post-CPI; US bank earnings due.
• DXY lower ahead of US CPI, GBP resilient in the wake of soft inflation metrics, JPY leads.
• Gilts inflated by CPI, JGBs dented by Ueda & USTs await CPI.
• Choppy trade in crude while precious metals tilt higher and base metals trade mixed.
• Looking ahead, US CPI, OPEC MOMR, Fed Beige Book, Speakers including BoE’s Taylor, Fed’s Barkin, Kashkari, Williams & Goolsbee. Earnings from JPMorgan, Goldman Sachs, BlackRock, Citi, Wells Fargo, Bank of New York Mellon.

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EUROPEAN TRADE

EQUITIES

• European bourses generally opened modestly firmer, and have trudged a little higher as the morning progressed; Stoxx 600 +0.3%. The DAX 40 & FTSE 100 outperform vs peers; +0.6% and +0.7% respectively.
• European sectors hold a strong positive bias, with only a couple of industries residing in the red/flat. Real Estate is the outperformer today, buoyed by gains in UK homebuilders after the cooler-than-expected inflation figures out of the region. Consumer Products is the slight laggard today, joined by Food Bev & Tobacco and Healthcare.
• US equity futures are very modestly in positive territory, as traders await the day’s key US CPI print. US corporate earnings will get into full swing as key financials publish Q4 metrics today.
• Dutch government imposes new controls on some computer chip measuring equipment, to be implemented on 1st April 2025, according to a government statement; ASML (ASML NA) sees no additional impact from latest Dutch measures.
• Tesla (TSLA) to suspend part of new Model Y lines in China for upgrades, via Bloomberg; Tesla Model 3 output will also be suspended over Lunar New Year
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY is lower, largely as a by-product of JPY strength in the run up to US CPI data. On which, headline US CPI is expected to rise +0.3% M/M in December. The release follows hot on the heels of yesterday’s softer-than-expected outturn for PPI. DXY has returned to a 108 handle with a session trough at 108.96.
• EUR is flat vs. the USD as EZ-specific drivers remain light aside from various ECB commentary. On which, ECB’s de Guindos has been on the wires noting that the disinflation process is well on track. EUR/USD is currently treading water above the 1.03 mark vs. yesterday’s 1.0238 low. The next upside target comes via the 9th Jan high at 1.0321.
• JPY is the clear outperformer across the majors following comment from BoJ Governor Ueda who said the BoJ will raise rates and adjust the degree of monetary support if improvement in the economy and price conditions continues, while he added that he wants to discuss and decide whether to raise rates at next week’s policy meeting. USD/JPY has slipped onto a 156 handle for the first time since 6th January; current session low at 156.72 vs YTD trough at 156.23.
• GBP marginally weaker vs. peers following soft UK inflation metrics which saw Y/Y CPI print @ 2.5% vs. Exp. 2.6%, core Y/Y 3.2% vs. Exp. 3.4%, services 4.4% vs. exp. 4.9% and MPC 4.7%. Typically, such a soft outturn would trigger more pronounced softness in GBP. However, given concerns surrounding the UK’s fiscal position, the subsequent pullback in yields has been seen as a positive for the domestic economy. Price action for the GBP was relatively choppy, with a brief dip reversed to a session high of 1.2241; upside which faded a touch to current 1.2219.
• Antipodeans are both marginally firmer vs. the USD alongside a quiet antipodean calendar. AUD is now up for a third session in a row after printing a multi-year low on Monday at 0.6130.
• PBoC set USD/CNY mid-point at 7.1883 vs exp. 7.3240 (prev. 7.1878).
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are in the green and just off the session highs of 107-16+. Yields lower across the curve with the long-end leading and the curve as a whole flattening a touch. The session’s main event is US CPI, the headline M/M is expected to remain at 0.3%.
• Gilts were inflated by 68 ticks at the open and have since lifted to a 90.19 peak. From the data, the main point of focus is on the Services metric which eased below market and BoE forecasts to the lowest rate since March 2022 – this led market pricing to shift dovishly. The jump in Gilts has sparked an associated pullback in yields with the 10yr moving from 4.89% at end-of-play on Tuesday to a 4.80% low this morning.
• Modest two-way action on the UK’s 2034 auction results but with Gilts ultimately coming under some very modest pressure and veering back towards the 90.00 handle – despite a decent outing.
• JGBs came under pressure overnight after remarks from BoJ Governor Ueda in which he said he wants to discuss and decide on whether to increase rates at the January meeting. More broadly, he added that the US economy and momentum towards Spring wage talks are key points and branch managers’ views on the latter have been encouraging. Remarks which took a 140.55 low, just above the week’s 140.51 base, posting downside of a handful of ticks.
• Bunds are firmer on the session in-fitting with global peers. 2024 growth data for Germany was bleak as expected with the prelim. figures pointing to a consecutive year of contraction. Furthermore, forward-looking remarks from the Economy Ministry were also downbeat. At the top-end of a 130.32-74 band, if the upside continues then we look to 130.98 from Monday before the WTD high at 131.09.
• UK sells GBP 4bln 4.25% 2034 Gilt Auction: b/c 2.80x (prev. 2.87x), avg yield 4.808% (prev. 4.332%) & tail 0.9bps (prev. 1.3bps).
• Germany sells EUR 1.19bln vs exp. EUR 1.5bln 2.50% 2054 Bund and EUR 0.754bln vs exp. EUR 1bln 1.80% 2053 Bund.
• Click for a detailed summary

COMMODITIES

• Crude price action has been choppy today with participants awaiting US CPI for a larger impulse, although geopolitical risks remain as Russia and Ukraine target each others’ energy infrastructure whilst an Israel-Hamas ceasefire deal is seemingly imminent, although sticking points remain. Some weakness in the complex was seen after the EIA OMR, which trimmed its 2025 world oil demand growth forecast. Brent Mar sits in a 79.62-80.64/bbl parameter at the time of writing.
• Modest gains for precious metals with prices supported by a softer Dollar and a lack of macro newsflow at the time of writing. Spot gold currently resides in a USD 2,669.36-2,688.56/oz range.
• Mixed trade across base metals with copper prices indecisive since APAC trade amid the mixed and choppy sentiment seen across global markets.
• Private inventory data (bbls): Crude -2.6mln (exp. -1.0mln), Distillate +4.9mln (exp. +0.8mln), Gasoline +5.4mln (exp. -2mln), Cushing +0.6mln.
• EU is considering a gradual ban on Russian LNG and aluminium, according to Bloomberg. It was earlier reported that the EU Commission intends to propose a ban on imports of Russian primary aluminium in the latest package of sanctions.
• IEA OMR: Trims 2025 world oil demand growth forecast to 1.05mln BPD (prev. 1.1mln BPD); says new US sanctions on Russia could significantly disrupt Russian oil supply and distribution chains. Global oil supply is projected to rise by 1.8mln BPD in 2025 to 104.7mln BPD, compared with an increase of 660k BPD in 2024. While it is too early to fully quantify the potential impact from these new measures, some operators have reportedly already started to pull back from Iranian and Russian oil.
• Russia to provide crude oil and LNG to Vietnam, according to a statement cited by Reuters.
• India’s December Gold imports at USD 4.7bln, according to Trade Ministry.
• Russia’s Kremlin says possible EU sanctions on Russian aluminium could destabilise an “already fragile market”. Says “nothing can be ruled out” when it comes to Russia’s response to the latest US sanctions on the energy sector.
• Click for a detailed summary

NOTABLE DATA RECAP

• UK CPI YY (Dec) 2.5% vs. Exp. 2.6% (Prev. 2.6%); Core 3.2% vs. Exp. 3.4% (Prev. 3.5%); Services 4.4% vs. Exp. 4.9% vs. BoE Exp. 4.7% (Prev. 5.0%), lowest services rate since March 2022.
• UK CPI MM (Dec) 0.3% vs. Exp. 0.4% (Prev. 0.1%); Core 0.3% vs. Exp. 0.5%; Services 0.3% (Prev. -0.1%)
• UK ONS House Price Index (Nov) Y/Y 3.3% (Prev. 3.4%)
• German Wholesale Price Index YY (Dec) 0.1% (Prev. -0.6%); MM (Dec) 0.1%.
• German Full Year GDP (2024) -0.2% vs. Exp. -0.2% (Prev. -0.3%); exports -0.8%; Government budget recorded financial deficit of EUR 113bln at end-2024.
• EU Industrial Production MM (Nov) 0.2% vs. Exp. 0.3% (Rev. 0.2%); Industrial Production YY (Nov) -1.9% vs. Exp. -1.9% (Prev. -1.2%, Rev. -1.1%).

NOTABLE EUROPEAN HEADLINES

• ECB’s Lane said they are essentially still in economic recovery mode and Eurozone GDP grew 1.1% in 2024, while they will have some improvement in investment in 2025 and the savings rate will come down in Eurozone though not massively. Furthermore, Lane said the labour market is resilient for now and services inflation will come down in the coming months, as well as noted that if inflation stabilises around 2%, rates will go to neutral.
• ECB’s de Guindos says the disinflation process is well on track. The balance of macroeconomic risks has shifted from concerns about inflation to concerns about low growth. The high level of uncertainty calls for prudence in setting rates. Severe global trade frictions could increase the fragmentation of the world economy. Uncertainty about fiscal policy and its present challenges could weight on the borrowing costs. Will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. The risks to economic growth remain tilted to the downside. Not committing to any particular rate path.
• ECB’s Villeroy says practically won battle against inflation; on France, says risks to 0.9% French growth forecast for 2025 are on the downside, but we do not see a recessionGovernment needs to detail savings and tax measures needed to achieve its new deficit forecasts of 5.4% of GDP this year.
• Riksbank’s Bunge says making it easier to borrow will not solve challenges in the housing market. Economy is close to a turning point but risks remain. Sweden is in a mild recession but 2025 outlook is favourable. Forecast is that rates may be cut one more time during H1 2025; judges that it is better to cut in the near term rather than wait.
• Germany Economy Minister says outlook for exports is modest; consumer recovery not in sight. Inflation dampening factors should dominate over the course of the year.

NOTABLE US HEADLINES

• US President-elect Trump announced on Truth Social that Keith Sonderling will serve as the next United States Deputy Secretary of Labor.
• The US is planning to unveil additional regulations designed to keep advanced chips made by TSMC (2330 TT/TSM) and Samsung Electronics (005930 KS) from flowing to China, according to Bloomberg.
• US Treasury Secretary Yellen says the US economy is doing well, but more work needed to invest in infrastructure, labour force and R&D

GEOPOLITICS

MIDDLE EAST

• “Security sources: The IDF has not been instructed to change the methods of fighting in Gaza despite the progress of negotiations”, according to Al Jazeera.
• Israel gov’t has reportedly set new conditions which could undermine the Gaza negotiations, via Sky News Arabia citing sources; among those is that the Israeli Army would remain 700 metres into Rafah.
• White House National Security Adviser Sullivan said hopefully we will close out a Gaza hostage deal this week, while he also commented that Iran’s weakness is a concern because it may force them to rethink nuclear weapons posture.
• Iranian President Pezeshkian said Iran never plotted to kill Trump during the US election campaign and will never do that, according to NBC News.
• “Iranian Vice President: We discovered Israel’s planting of explosives inside centrifuges”, according to Al Arabiya.

RUSSIA-UKRAINE

• Russian Defence Ministry say they have struck critical energy infrastructure in Ukraine.
• Ukrainian President Zelensky says Russia targeted Ukraine’s gas infrastructure in air strikes today.
• Russia said its forces captured two settlements in eastern Ukraine.

OTHER

• US President-elect Trump’s incoming National Security Adviser Waltz said he wants to deal with the backlog of weapons to Taiwan.

CRYPTO

• Bitcoin is essentially flat and holds just shy of USD 97k; Ethereum supported at the USD 3.2k level.

APAC TRADE

• APAC stocks were choppy after a similar performance stateside where PPI data printed cooler-than-expected ahead of the incoming US CPI report.
• ASX 200 failed to sustain early gains with upside in consumer stocks, real estate and financials offset by losses in tech and miners.
• Nikkei 225 faded its opening advances with price action indecisive amid a lack of notable drivers and ongoing uncertainty regarding BoJ policy.
• Hang Seng and Shanghai Comp were softer as trade frictions lingered with the US finalising rules to effectively ban Chinese vehicles and it also banned imports for over 30 entities over Uyghur forced labour, while China placed 7 US firms on the unreliable entity list for involvement in arms sales to Taiwan. Nonetheless, some of the downside was stemmed following the PBoC’s firm liquidity effort in which it conducted a CNY 960bln 7-day reverse repo operation.

NOTABLE ASIA-PAC HEADLINES

• BoJ Governor Ueda said they will raise rates and adjust the degree of monetary support if improvement in economy and price conditions continues, while he wants to discuss and decide whether to raise rates at next week’s policy meeting. Furthermore, he said the US economy and momentum towards Spring wage talks are key points and noted that the branch managers’ meeting showed an encouraging view on pay, as well as stated that the timing of adjusting monetary policy is up to future economy, price and financial conditions.
• South Korean authorities have arrested impeached President Yoon, while Yoon said it is deplorable to see a series of illegal acts of law enforcement including his arrest and noted he agreed to attend investigators’ questioning to prevent bloodshed despite its illegality.

2C ASIAN REPORT

Choppy APAC trade, DXY contained while the JPY leads post-Ueda into US CPI – Newsquawk Europe Market Open

Wednesday, Jan 15, 2025 – 01:55 AM

• APAC stocks were choppy after a similar performance stateside where PPI data printed cooler-than-expected ahead of the incoming US CPI report.
• European equity futures indicate a mildly positive open with Euro Stoxx 50 futures up 0.1% after the cash market closed with gains of 0.5% on Tuesday.
• DXY is flat, EUR/USD rests just below 1.03, Cable is pivoting around the 1.22 mark, JPY leads.
• BoJ Governor Ueda said he wants to discuss and decide whether to raise rates at next week’s policy meeting.
• Looking ahead, highlights include German Wholesale Price Index, FY GDP, UK CPI, EZ Industrial Production, US CPI, IEA OMR, OPEC MOMR, Fed Beige Book, BoE’s Taylor, ECB’s de Guindos, Fed’s Barkin, Kashkari, Williams & Goolsbee, Supply from UK & Germany, Earnings from JPMorgan, Goldman Sachs, BlackRock, Citi, Wells Fargo, Bank of New York Mellon.

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US TRADE

EQUITIES

• US stocks were mostly higher in what was a choppy session ahead of US CPI data although futures had initially bounced on a cool US PPI print. Thereafter, stocks and Treasuries were indecisive as markets remained tentative over the direction of US yields with the latest Reuters poll suggesting 2/3 of bond strategists surveyed see the 10yr yield surpassing 5% in 2025. In terms of the sectors, outperformance was seen in Utilities, Materials and Real Estate, whereas Healthcare and Communications were the biggest losers with the former weighed on by Eli Lilly’s disappointing preliminary Q4 weight loss drug numbers.
• SPX +0.11% at 5,843, NDX -0.13% at 20,757, DJIA +0.52% at 42,518, RUT +1.13% at 2,219.
• Click here for a detailed summary.

NOTABLE HEADLINES

• US President-elect Trump announced on Truth Social that Keith Sonderling will serve as the next United States Deputy Secretary of Labor.
• Some of the backers of US President-elect Trump’s tariffs are getting exasperated by the reports he’s going to dial it back, according to WaPo’s Stein.
• The US is planning to unveil additional regulations designed to keep advanced chips made by TSMC (2330 TT/TSM) and Samsung Electronics (005930 KS) from flowing to China, according to Bloomberg.

APAC TRADE

EQUITIES

• APAC stocks were choppy after a similar performance stateside where PPI data printed cooler-than-expected ahead of the incoming US CPI report.
• ASX 200 failed to sustain early gains with upside in consumer stocks, real estate and financials offset by losses in tech and miners.
• Nikkei 225 faded its opening advances with price action indecisive amid a lack of notable drivers and ongoing uncertainty regarding BoJ policy.
• Hang Seng and Shanghai Comp were softer as trade frictions lingered with the US finalising rules to effectively ban Chinese vehicles and it also banned imports for over 30 entities over Uyghur forced labour, while China placed 7 US firms on the unreliable entity list for involvement in arms sales to Taiwan. Nonetheless, some of the downside was stemmed following the PBoC’s firm liquidity effort in which it conducted a CNY 960bln 7-day reverse repo operation.
• US equity futures (ES U/C, NQ +0.1%)) were little changed as participants brace for today’s key inflation numbers and big bank earnings results.
• European equity futures indicate a mildly positive open with Euro Stoxx 50 futures up 0.1% after the cash market closed with gains of 0.5% on Tuesday.

FX

• DXY traded rangebound after weakening on the cooler-than-expected PPI print and as focus now turns to the incoming CPI data and Fed speakers.
• EUR/USD plateaued around the 1.0300 level after yesterday’s outperformance post-PPI and with comments from ECB’s Holzmann who does not think the ECB can lower rates too quickly and noted that core inflation is still closer to 3% than 2%.
• GBP/USD remained indecisive near the 1.2200 focal point after recently lagging behind major peers and with UK inflation data scheduled later.
• USD/JPY was contained amid a lack of catalysts and data releases for Japan but later saw some mild headwinds after comments from BoJ Governor Ueda who said they will raise rates and adjust the degree of monetary support if improvement in the economy and price conditions continues, while he added that he wants to discuss and decide whether to raise rates at next week’s policy meeting.
• Antipodeans were uneventful amid a quiet calendar and the cautious mood seen in Asia-Pac stocks, while there was also very little reaction seen to the PBoC’s continued efforts to push back against yuan weakness through its daily reference rate setting.
• PBoC set USD/CNY mid-point at 7.1883 vs exp. 7.3240 (prev. 7.1878).

FIXED INCOME

• 10yr UST futures remained afloat after marginally benefitting from the cooler-than-expected PPI data but with trade kept rangebound as CPI data looms.
• Bund futures languished at contract lows after its recent slip beneath the 131.00 level and with EUR 2.5bln of Bund issuances scheduled later.
• 10yr JGB futures lacked firm direction in the absence of any tier-1 data releases and amid ongoing uncertainty surrounding next week’s BoJ policy decision, while Japan’s 2-year yield later rose to its highest since 2008 after comments from BoJ Governor Ueda who said he wants to discuss and decide whether to raise rates at next week’s policy meeting.

COMMODITIES

• Crude futures traded rangebound after the prior day’s weakness and constructive geopolitical dialogue, while the latest private sector inventory data was mixed as there was a wider-than-expected drawdown in headline crude inventories but gasoline and distillate stockpiles showed substantial builds.
• Private inventory data (bbls): Crude -2.6mln (exp. -1.0mln), Distillate +4.9mln (exp. +0.8mln), Gasoline +5.4mln (exp. -2mln), Cushing +0.6mln.
• US EIA STEO stated 2025 US crude production is seen at 13.55mln BPD (prev. 13.52mln bbls) and 2026 US crude production is seen at 13.62mln BPD, while both 2025 and 2026 US oil demand is seen at 20.5mln bpd.
• EU Commission intends to propose a ban on imports of Russian primary aluminium in the latest package of sanctions.
• EU is considering a gradual ban on Russian LNG and aluminium, according to Bloomberg. It was earlier reported that the EU Commission intends to propose a ban on imports of Russian primary aluminium in the latest package of sanctions.
• Spot gold slightly eased back after ultimately gaining yesterday owing to a weaker dollar post-PPI but with price action limited as CPI looms.
• Copper futures were indecisive amid the mixed and choppy sentiment seen across global markets.

CRYPTO

• Bitcoin edged higher overnight to above the USD 97,000 level albeit in a choppy fashion.

NOTABLE ASIA-PAC HEADLINES

• BoJ Governor Ueda said they will raise rates and adjust the degree of monetary support if improvement in economy and price conditions continues, while he wants to discuss and decide whether to raise rates at next week’s policy meeting. Furthermore, he said the US economy and momentum towards Spring wage talks are key points and noted that the branch managers’ meeting showed an encouraging view on pay, as well as stated that the timing of adjusting monetary policy is up to future economy, price and financial conditions.
• US is finalising the rules to effectively ban Chinese vehicles which could include Polestar (PSNY), according to The Verge.
• South Korean authorities have arrested impeached President Yoon, while Yoon said it is deplorable to see a series of illegal acts of law enforcement including his arrest and noted he agreed to attend investigators’ questioning to prevent bloodshed despite its illegality.

GEOPOLITICS

MIDDLE EAST

• Israel and Hamas agreed in principle to a ceasefire draft deal and if all goes well, will be finalised this week, according to CBS.
• Israeli PM Netanyahu was informed on Tuesday of the possibility of reaching an agreement within hours, according to Al Arabiya.
• Southern Command discussed preparations for a gradual withdrawal of IDF forces from Gaza, according to the Israel Broadcasting Corporation.
• Hamas did not deliver their response because Israel did not clarify the areas of its withdrawal, according to Al Arabiya citing a Hamas source.
• White House National Security Adviser Sullivan said hopefully we will close out a Gaza hostage deal this week, while he also commented that Iran’s weakness is a concern because it may force them to rethink nuclear weapons posture.
• Iranian President Pezeshkian said Iran never plotted to kill Trump during the US election campaign and will never do that, according to NBC News.

RUSSIA-UKRAINE

• Russia said its forces captured two settlements in eastern Ukraine.

OTHER

• US President-elect Trump’s incoming National Security Adviser Waltz said he wants to deal with the backlog of weapons to Taiwan.

EU/UK

NOTABLE HEADLINES

• ECB’s Lane said they are essentially still in economic recovery mode and Eurozone GDP grew 1.1% in 2024, while they will have some improvement in investment in 2025 and the savings rate will come down in Eurozone though not massively. Furthermore, Lane said the labour market is resilient for now and services inflation will come down in the coming months, as well as noted that if inflation stabilises around 2%, rates will go to neutral.
• Head of France’s Socialist party said that if his party does not get a clear response from the PM to its demands on pension reform, then they will vote in favour of no-confidence against the government.

3B NORTH KOREA/SOUTH KOREA

end

3C JAPAN

end

3D. CHINA/

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

GREECE

Greece is very worried on the surging energy prices hurting businesses

Greece Calls On EU For Fast Response To Surging Energy Prices

Wednesday, Jan 15, 2025 – 04:15 AM

Authored by Charles Kennedy via OilPrice.com,

Greece is urging the EU to move faster to address the high power and natural gas prices in the bloc that undermine its competitiveness alongside burdening households, Greek Prime Minister Kyriakos Mitsotakis wrote in a letter to European Commission President Ursula von der Leyen seen by Bloomberg News.

European wholesale electricity prices jumped in November to the highest level in 20 months, additionally burdening the key industries in major economies that had just started to recover from the 2022 energy crisis.

Major economies in Western Europe – Germany, France, the Netherlands, Spain, and Italy, have seen a surge in energy costs.

Economies in east and southeast Europe, including Greece, have been suffering even more as energy prices have been higher than in Western Europe in recent months.

Greece, Bulgaria, and Romania have already called on the EU to discuss measures to relieve the high prices.

The Greek PM also wrote to von der Leyen in May 2024 urging the European Commission President “to make the Single Market more competitive and transparent for consumers, for a Europe that improves the living standards of its citizens”

In another letter seen by Bloomberg News, Mitsotakis wrote more recently,

“Prices are telling us we need to move faster but also differently — to think about new ways to tackle the problems that confront us.”

Mitsotakis is calling for better integration of the national grids and for additional measures to protect southeast Europe’s and the EU’s natural gas security. The Greek PM also seeks limits to the costs of overregulating emissions.

“Shifts in the geopolitical landscape make this task even more urgent,” Mitsotakis wrote in the letter.

The European Union is getting ready to have natural gas hold a smaller share of the energy mix, but “we will depend on gas for at least two decades,” the Greek prime minister noted.

END

FRANCE

what a joke: 250 Migrants were invited to a Paris theatre refugee and then they decided to stay at the theatre and were joined by 50 more migrants.

(zerohedge)

Migrants Crashed Woke Paris Theater’s Refugee Seminar – Weeks Later, 300 Won’t Leave

Wednesday, Jan 15, 2025 – 10:00 AM

For the latest proof that we’re all living in a black comedy about the leftist-led destruction of the West, cast your eyes on a woke theater in “gay Paree.” 

In December, the Gaîté Lyrique theater held a conference titled, “Reinventing The Welcome For Refugees In France.” Fittingly, more than 250 African migrants showed up, were welcomed — and then refused to leave. Five weeks later, they’re still there, along with 50 more who’ve piled inside. 

It hasn’t been good for business. Various shows that were scheduled to take place at the theater have been forced into different venues, including “Being Black at the Opera,” “New Images of Masculinity,” and a sex-poetry seminar. With 70% of the theater’s revenue coming from ticket sales, the theater company says it’s now facing an existential financial crisis. 

However, tripping over its own warped sense of right and wrong, and utter disdain for the concept of property rights, the five-organization “collective” that runs the place just can’t bring itself to eject the horde of mostly West African occupiers. “Although this occupation is forced, it is unthinkable for the Gaîté Lyrique to throw these people out onto the street in the middle of winter,” the organization said in a Jan 10 statement on the crisis. The theater collective doesn’t want police to drag the invaders out, but is demanding that government find the migrants new accommodations. President Macron’s administration has ignored the group’s pleas. 

The migrants occupying the theatre all arrived in France claiming to be aged under 18, which would give them the right to be housed and helped by local authorities. But they were judged to be adults by officials and most ended up sleeping in the street. — The Times of London 

The migrants say the housing age-test is racist, and have organized a collective of their own, calling the Gaîté Lyrique ​​​a place of “antiracist and anticolonial struggle.” Seems suitable for the a theater that says it was founded “to address pressing cultural, social democratic and climate issues.” 

As you might imagine, after five weeks of cultural enrichment via 300 migrant residents, the venue is now dealing with some “climate issues” of a different type. “As the number of young people sleeping at the Gaîté Lyrique continues to increase, the sanitary conditions are deteriorating day after day,” the management said. While there’s no reporting on the gender breakdown, photos of the migrants indicate the group is nearly all-male. 

The December 10 migrant conference, which featured professors from top French universities and Red Cross officials, wasn’t meant to be an open house for migrants. However, Parisian activists brought the migrants to the event and encouraged them to pile inside anyway. 

The damage from the migrant occupation isn’t limited to the theater itself, which is located on a lovely square in Paris’s 3rd arrondissement. Among other businesses, an adjacent restaurant has seen its revenue hammered by loss of the theater-crowd traffic, and the business-killing effect of troublesome migrant loiterers. As the manager of the Bistrot De La Gaïté told The Times of London:  

“They are ruining my business. They hang around outside my terrace, smoking joints and fighting among themselves. Not only do we no longer get theatregoers because the theatre is shut but we don’t get passers-by either. They’re being frightened away by all these young men.”

Aside from members duking it out and getting high, the migrant collective holds daily assemblies on the theater steps, banging metal percussion instruments and yelling through megaphones. Some of their demonstrations are at night — well within earshot of the many nearby residences.  

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1867579874572968403&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Fmigrants-crashed-woke-paris-theaters-refugee-seminar-weeks-later-300-wont-leave&sessionId=7484f08946202dd2a719012c16c5f6e468d35317&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

While the collateral damage on the neighborhood is sad, watching leftists fall victim to their own destructive ideology is always a welcome source of comic relief. 

end

ROBERT H

Why Europe will fall

When all else fails they take you to war believing you are fighting and sacrificing for freedom and democracy.

No one wants to give their sons to fight and die in a war being fought over which country’s elites get to exploit the most resources. But they will send their sons to die if the stakes are recalibrated into a lying narrative about “fighting for democracy and freedom.” The elites figured this out a long time ago, and it still works beautifully for them today. They are laughing all the way to the bank. Why be fooled again? This is why history repeats because we fail to learn from history!

Last month the people of Romania were denied a vote. Why? Because they voted for peace over war. And Neocons do not care about the will of the people. A Vote for peace is now a vote for Russia. 

Soon a military exercise of over 10,000 troops will take place in Bulgaria, Romania and Greece. The intent is not to practice defense, but offense. Europe is bound and determined to go against the will of the people and enter into a conflict with Russia. This time Europe may fight against a foe by itself. There is no win for Europe or Europeans in a fight with Russia. No one will be a winner. And one should not expect to see the Russians go beyond Ukraine, with troops. There is zero interest to do so. And areas like Galicia were part of Poland and should be back with Poland. As for Baltic States hunkering for fight; it is the suicide of nations to try. There will be no mercy. Will it take such example for Neocons to see? Yes, people are expendable as are nations in this game. And believe or not no will come to their defense. 

Today, countries like Poland are being made ready against the will of the people to go to war against Russia. It’s not the people who want to fight nor the people who are threatened but neocons. A pursuit of war will cause a deflation in Europe of economic activity, not seen since the great depression. As it is now, Germany is in a recession with countries like Slovakia and Hungary starting to suffer this month due to the Ukraine, stopping the transit of gas from Russia via the Ukraine to both Slovakia and Hungary. This automatically causes a price increase in the price of energy for these two nations. And like Germany, the price of gas which is energy determines the viability of many companies. A viability that affects employment and therefore consumption. Companies faced with losses are forced to retrench or close. Today, this is seen from Italy to the Netherlands without exception. 

Just the other day the Ukrainians sent drones to try to destroy the gas transit station the pumps gas through the Black Sea to Turkey into Europe. One wonders how justification can be made to support a country that is the most corrupt nation in the west who seeks to destroy energy that European countries need to drive their economies. Complete insanity is the rule of the day anymore.

The discontent will rise among the ordinary Europeans like a contagion. Wait to see if Germany swings to the right and we see that vote cancelled. Whatever happens moving forward know that unrest not seen before is coming to Europe. Peace is lost in current dialogue and pronouncements by politicians who do not understand that in modern warfare time and Armies matter less than missiles inbound many times the spreed of sound. And such missiles are unstoppable! Even a FOOL understands that such a fight will inflict immense damage and pain to Europe that the citizens must suffer. 

The proving grounds for missiles is in Ukraine. Do take notice that missiles

 like Oreshnik not only are unstoppable but they turn what they hit into dust. These types of missiles are the new replacements for tactical battlefield nukes. The only real question is whether the serial production of such missiles is fast enough to avoid the use of nukes in a wider war. And yes Europe is at war with Russia. Have no illusions about this. 

Whether it is in days, months or short years war beckons its ugly power to awaken a public opinion to say NO. Today, this is being seen in many countries and this is the contagion once fully unleashed that will change Europe forever. 

end

EUROPE/EURO

ROBERT H

Changing realities with chains

Often it is clear the signposts of change are warnings that people choose to ignore. Not so long ago watched a party dance with glee about a Euro payment because it would be converted to USD and they were up since the Euro was more than 10% higher than the dollar making their decision a wise one. Today the time of payment is not quite due and they are crying because they see that the Euro is likely to be below par with the dollar by the time their payment is due. The loss of buying power is reflected in a rising cost for Europe. Some parties call this inflation while other see this for what it is mismangement.

In Europe today,  as a result of higher oil prices and the extreme bureaucratic political system, not only is the EU sentiment gloomy, businesses are relocating to other nations, including the U.S.

This past Saturday, the German news agency dpa reported that the European Commission admitted that “Europe’s attractiveness as a business location is declining.”

Of the 50 largest technology companies in the world, only four are European. From 2008 to 2021, nearly a third of privately-owned firms worth more than $1 billion, many of which are hi-tech, moved abroad.

The report blamed high energy prices in Europe and the extreme bureaucracy for the exodus.

“The report shows that the issue of competitiveness must be a central theme in the Commission’s work in the future. There is a risk of a significant loss of prosperity,” Markus Ferber, the European MP, said, according to RT.

And, as the EU goes down, its’ currency has followed. And the lower the EU, as well as other currencies fall, the higher the U.S. dollar rises. And the higher the U.S. dollar rises, and the lower their currencies fall, the higher inflation inside the bloc will rise.

The British Pound is at a 14 month low being nicknamed the British Peso. Perhaps it will drop low enough to keep factories competitive in a recession that is global. Expect at least a 20% decline in global GDP. In Canada, the falling Loonie is making Canadian assets cheap while imposing a huge inflationary burden on anything bought. Having assets in Canada is watching real time shrinkage of buying power. 

While today inflation may be the talk, tomorrow deflation will be the word to watch.

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS

Israel, Hamas finalizing details on implementation of hostage deal — Arab officials

Officials tell ToI that mediators are still waiting for Israeli map detailing parameters of IDF withdrawal * Iran official claims Israel once planted bomb in centrifuge equipment

Israel and Hamas finalizing details on implementation of hostage deal, Arab officials tell ToI

By Jacob Magid

Demonstrators call for the release of hostages held in the Gaza Strip, outside the Kirya military base in Tel Aviv, January 14, 2025. (Erik Marmor/Flash90)

Israel and Hamas agreed in principle to a hostage deal on Monday night and have since been working in Doha to finalize the details regarding implementation of the agreement, two Arab officials tell The Times of Israel.

One of the main issues that has yet to be finalized is the exact parameters of the IDF’s withdrawal from Gaza, and the mediators are still waiting for a map from Israel laying this out, the Arab officials say.

The two officials speculate that a deal will be announced on Wednesday or Thursday in the form of a joint statement from the US, Qatar and Egypt, who have been mediating between Israel and Hamas.

Earlier Tuesday, US Secretary of State Antony Blinken claimed that Israel had accepted the hostage deal, while Hamas had yet to do the same.

On Monday, two officials familiar with the matter told The Times of Israel that US President-elect Donald Trump’s Mideast envoy Steve Witkoff held a “tense” meeting with Prime Minister Benjamin Netanyahu in Jerusalem on Saturday during which he leaned on the premier to make the compromises necessary to secure an agreement.

One of the Arab officials speaking to The Times of Israel on Tuesday says Witkoff managed to move Netanyahu more in that one meeting than the Biden administration had in countless conversations over the past year.

end

ISRAEL HAMAS:

Gaza hostage deal: Negotiations between Israel, Hamas persist as signing delayed – source

Territorial concessions among issues cited on Hamas’s radar • Hamas source to Reuters: Israel did not submit maps of IDF’s Gaza withdrawal

By AMICHAI STEINJANUARY 14, 2025 20:22Updated: JANUARY 14, 2025 22:48

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A Gaza hostage and ceasefire deal is in its final stages of completion, with an announcement expected imminently, but this declaration was delayed throughout Tuesday due to disagreements on the final wording of the deal, sources familiar with the matter told The Jerusalem Post.

Negotiators met in Qatar on Tuesday, hoping to hammer out the final details of the agreement, with mediators and the warring sides all describing a deal as being closer than ever.

Despite foreign reports pointing to the contrary, Prime Minister Benjamin Netanyahu told hostage families that Hamas had not delivered its final answer.

One of the issues holding up the approval on Hamas’s end concerns the maps detailing the IDF’s withdrawal from the Gaza Strip as part of the deal.

Did Hamas pre-maturely accept conditions?

A report early Tuesday by the Associated Press, citing two officials involved in the negotiations, claimed that Hamas has agreed to the proposed ceasefire deal in Gaza and the release of numerous hostages.

According to the report, an Israeli official noted that while progress had been made, the final details were still under discussion.

Jerusalem Post Staff contributed to this report.

end

ISRAEL/HAMAS

Netanyahu asked that soldiers be added to list of released hostages in first stage of deal – report

A diplomatic source later noted that Hamas was falsely claiming that Israel had added conditions to avoid implementing the deal.

By JERUSALEM POST STAFFJANUARY 15, 2025 10:45Updated: JANUARY 15, 2025 11:45

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Prime Minister Benjamin Netanyahu requested that soldiers be added to the list of 33 hostages to be released in the first stage of a hostage deal, a Palestinian source told the London-based Qatari newspaper Al-Araby Al-Jadeed on Wednesday.

According to the report, the source qualified this attempt as an attempt to “rig the agreement and obstruct it.”

The source further claimed that the announcement that the hostage deal had been achieved was being delayed until an accord could be obtained regarding the mechanisms for implementing it.

“In recent hours, Arab media reports that Hamas claims Israel is raising new demands and refusing to uphold agreements that have already been reached,” a diplomatic source said with regard to the reports. The source added that Hamas was falsely claiming that Israel had added new conditions to the negotiations to avoid implementing the deal. 

Disagreement on final wording

On Tuesday, a source familiar with the subject told The Jerusalem Post that while the deal was in its final stages, the announcement was delayed earlier in the day due to disagreement on the final wording. 

One of the main points holding up the approval on Hamas’s end regards the maps describing the IDF’s withdrawal from the Gaza Strip in the framework of a deal.

Amichai Stein contributed to this report. 

END

ISRAEL HAMAS

IDF strikes Hamas in Gaza, seizes over 100,000 military items throughout war

Israel will not hand body of Yahya Sinwar to Hamas as part of hostage deal, source says • Three IDF soldiers wounded in Kabatiya

IDF announces it seized 170,000 military items during multi-front war

The IDF seized around 1,500 rocket or RPG-type items, 570 electronic military items, 165 larger rockets and shells, 20 anti-aircraft missiles.

By YONAH JEREMY BOBJANUARY 15, 2025 13:02Updated: JANUARY 15, 2025 14:06

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The IDF announced on Wednesday that over the course of the current 15-month multi-front war, it has seized over 170,000 military items.

While most of the seized items have been from Hamas in Gaza and Hezbollah in Lebanon, the military specifically noted that since December 7, it has seized around 3,300 military items from Syria, in addition to the voluminous numbers of Syrian military items which it destroyed in early December.

IDF Division 210 seized Syria: tanks, rocket-propelled grenades, shells, mortars, lookout and surveillance equipment, and other weapons.

More specifically, the IDF seized around 1,500 rocket or RPG-type items, 570 electronic military items, 165 larger rockets and shells, 20 anti-aircraft missiles, and a range of other items.

On December 25, the IDF announced that over the course of the Lebanon invasion, it had seized 85,170 Hezbollah military items from over 30 villages in southern Lebanon.

Many of these items were presented on exhibit to The Jerusalem Post and other reporters that day at an IDF base in the North.

Among these items are 2,250 larger rockets, 6,840 smaller anti-tank missiles, and rockets, of which 340 are more advanced Kornet missiles.

There are also 60 anti-aircraft missiles and 20 vehicles, often with the capability of firing a dozen or multiple dozens of rockets at a time.

Next, the IDF also seized 9,000 improvised explosives, 5,560 guns, and around 60,800 electronic items, equipment, and documents.

---

---

Hinting at ‘victory laps’

Subtracting the Syria and Lebanon seized military items from the 170,000 total; the IDF has also likely seized around 80,000-85,000 items from Hmas over the course of the war.

The announcement seemed to hint at the beginning of certain attempts to do “victory laps” on the IDF’s achievements given that the war could end any day with a likely imminent hostage deal with Hamas and a previous ceasefire with Hezbollah on November 27.

end

“We Have A Deal For The Hostages” – Trump Lauds Israel-Hamas Ceasefire ‘Breakthrough’

Wednesday, Jan 15, 2025 – 12:10 PM

Israeli Prime Minister Benjamin Netanyahu has informed relatives of hostages kidnapped by Hamas that the end of the war in Gaza is near, amid reports that a ceasefire and hostage exchange deal has been reached. A formal deal could be announced within hours, he has said.

Axios reports Wednesday morning, “A breakthrough has been reached in the negotiations between Israel and Hamas in Doha and a deal to release hostages held by Hamas and establish a ceasefire in Gaza is imminent, three Israeli officials told Axios.”

 “There is a breakthrough in the hostage deal negotiations in Doha. Hamas’ military leader in Gaza Mohammed Sinwar gave his OK,” one Israeli official was cited as saying. And importantly, a statement from Trump’s team:

‘We have a deal’: Trump hails Gaza peace accord

In a quick follow-up statement on Truth Social, president-elect Trump underscored the unmistakable timing, attributing the deal to his election win in November. Below is his statement in full [emphasis ZH]:

This EPIC ceasefire agreement could have only happened as a result of our Historic Victory in November, as it signaled to the entire World that my Administration would seek Peace and negotiate deals to ensure the safety of all Americans, and our Allies. I am thrilled American and Israeli hostages will be returning home to be reunited with their families and loved ones.

With this deal in place, my National Security team, through the efforts of Special Envoy to the Middle East, Steve Witkoff, will continue to work closely with Israel and our Allies to make sure Gaza NEVER again becomes a terrorist safe haven. We will continue promoting PEACE THROUGH STRENGTH throughout the region, as we build upon the momentum of this ceasefire to further expand the Historic Abraham Accords. This is only the beginning of great things to come for America, and indeed, the World!

We have achieved so much without even being in the White House. Just imagine all of the wonderful things that will happen when I return to the White House, and my Administration is fully confirmed, so they can secure more Victories for the United States!

The impending deal reportedly lays out an initial six week ceasefire phase which includes gradual withdrawal of Israeli forces from Central Gaza as well as the return of displaced Palestinians to North Gaza.

Of the some 100 hostages still held by Hamas, at least one-third are believed already deceased. Dozens were released upon an initial deal struck early in the conflict.

Like with the first hostage exchange, dozens of Palestinian prisoners are expected to be released under this new agreement in return for each Israeli hostage.

According to the latest on where things stand via Axios:

• A second Israeli official said there is optimism that a deal could be announced by Thursday at the latest.
• The Israeli prime minister’s office said in a statement that Hamas hasn’t given it’s approval for the deal.
• Hamas still hasn’t issued an official statement, but a Palestinian source quoted by Al-Araby al-Jadeed website said the group and other factions in Gaza have a unified position and have given a positive response to the draft ceasefire agreement.

Netanyahu’s office has still said it has not received official word from Hamas on whether it has agreed to the deal.

“Both Reuters and AFP reported that Hamas had given verbal approval for the deal, citing Palestinian sources. According to Reuters, the terror group had not yet given a written response to the ceasefire proposal,” Times of Israel also underscores. Additionally:

Channel 12 quoted an Israeli official saying that “there has been a breakthrough,” and assessed that a deal could be signed later in the day.

Ministers is Netanyahu’s cabinet are reportedly preparing for a possible Wednesday night vote on enacting a ceasefire deal.

Not everyone is happy. For example, Israeli National Security Minister Itamar Ben Gvir has threatened to quit the governing coalition if Netanyahu agrees to the hostage and ceasefire deal.

https://twitter.com/ggreenwald/status/1879580348289519856

“Over the past year, through our political power, we have managed to prevent this deal from coming to fruition, time after time,” Ben Gvir said Tuesday. Some critics both within and outside Israel have accused Netanyahu of doing precisely this. Large protests have persisted in Tel Aviv amid accusations Netanyahu has thwarted potential peace deals in the past, opting to pursue total war in Gaza.

ISRAEL WEST BANK

The IDF and Shin Bet in a joint operation witnessed an air force aircraft struck the Jenin area Tuesday night

(JerusalemPost)

IAF strikes Jenin in joint operation

By JERUSALEM POST STAFFJANUARY 14, 2025 22:23

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In a joint operation by the IDF and Shin Bet, an Israeli air force aircraft struck the Jenin area, the IDF announced Tuesday night.

This is a developing story.

END

6 said killed as IDF launches first strike in Jenin since PA began terror crackdown

IDF confirms carrying out joint attack with Shin Bet, doesn’t give further details; analysts and Palestinian security forces warn airstrike could undermine PA counterterrorism op

By Emanuel Fabian Follow
and AgenciesToday, 5:23 am

Illustrative: Smoke rises during clashes between gunmen and the Palestinian Authority’s security forces, inside the Jenin refugee camp, on January 12, 2025. (Jaafar Ashtiyeh/AFP)

Israel on Tuesday carried out a drone strike in Jenin, amid a campaign by the Palestinian Authority to clamp down on terror factions in the northern West Bank city.

The Palestinian Authority health ministry reported at least six dead in strike, including a teenager.

The IDF released a statement confirming it carried out the attack in a joint operation with the Shin Bet, without immediately providing further information.

The strike was in the Jenin refugee camp, which has been overtaken by various armed groups over the past year.

It was the first strike that the IDF has conducted in the camp where the PA’s own security forces have been operating for roughly a month, trying to clamp down on terrorist activity.

The Israeli strike risks undermining the PA effort, analysts and its security apparatus warned.

“The pre-planned intervention … thwarts all efforts being made to maintain security and order and restore life to normal,” said Anwar Rajab, spokesman for the Palestinian forces, in a statement.

“It reflects the occupation’s premeditated intentions to disrupt every national endeavor aimed at protecting our people.”

A member of the Palestinian security forces stands at a roundabout in the Jenin refugee camp, in the northern West Bank, December 29, 2024. (Jaafar Ashtiyeh/AFP)

Palestinian security forces entered Jenin in early December and set up checkpoints around the city and adjacent refugee camp, hoping to strengthen the PA’s position before a shakeup of Palestinian politics that is expected once the ongoing Gaza war sparked by Hamas’s October 2023 terror onslaught ends.

The operation has deepened splits among Palestinians in the West Bank, where the PA enjoys little popular support but where many fear being dragged into a Gaza-style conflict with Israel if terror groups like Hamas and Islamic Jihad strengthen their hold.

At least 13 people have been killed in Jenin since the counterterrorism mission began, including six Palestinian security officers and one gunman, officials say.

Times of Israel staff contributed to this report.

ISRAEL/HOUTHIS

Yemen’s Houthis Target Israel Three Times In 12 Hours

Tuesday, Jan 14, 2025 – 10:10 PM

The Yemeni Houthi forces announced Tuesday that it targeted the Israeli Defense Ministry headquarters in Tel Aviv with a hypersonic missile. Israeli media also confirmed an attempted attack, which triggered emergency sirens across the central Israeli region:

Yemen’s Houthi rebels claim an overnight missile attack on Israel, saying they had launched a “hypersonic ballistic missile” into “occupied Jaffa,” a reference to the Israeli commercial hub of Tel Aviv.

The IDF said it had attempted an interception of the missile that set off sirens in a large swath of central Israel. The launch came on the heels of a Monday night attack in which a projectile fired from Yemen was intercepted “prior to crossing into Israeli territory,” according to the military.

It is unclear where the projectile may have landed, but Israel is not reporting any significant damage to its military facilities.

But what is clear is that the Houthis have remained undeterred in their attacks, despite round after round of US and Israeli airstrikes on Yemen over the last several weeks.

Crucially, this marks no less than the third Houthi operation against Israel within 12 hours – which has included drone launches as well. “This is the third operation within 12 hours,” a Houthi military statement boasted.

There is some evidence in regional reporting that a projectile that was part of these assaults damaged a private residence:

Part of the missile landed on the roof of a home west of occupied Jerusalem. The Israeli army said in two separate statements, hours apart, on 13 January that it intercepted a missile and a drone launched from Yemen. 

The Yemeni army said on Tuesday that it attacked a “vital target” and launched four drones at targets in the Tel Aviv area. 

On January 10 the US, UK, and Israel conducted a rare three-way attack on Yemen, hitting various parts including the key port of Hodeidah. The capital of Sanaa was also hit, even as a large civilian demonstration was happening.

This week President Biden has proclaimed that Israel and Hamas are “on the brink” of finally achieving a ceasefire deal and hostage exchange. It’s anything but clear whether the Houthis would also honor this and cease their rocket launches. 

https://twitter.com/i/status/1879158961636565167

Houthi leaders have demanded a full Israeli military withdrawal from the Gaza Strip, and have threatened to keep attacking Israel and ships in the Red Sea until this happens. Israeli military leaders have at the same time vowed to ‘hunt’ down top Houthi officials, seen as Iran’s proxies.

END

ISRAEL/IRAN

this happened a few years ago

(times of Israel)

Senior Iranian official accuses Israel of placing explosives in centrifuge equipment

Today, 1:29 am

Illustrative: In this image made from April 17, 2021, video released by the Islamic Republic Iran Broadcasting, IRIB, state-run TV, various centrifuge machines line the hall damaged on April 11, 2021, at the Natanz Uranium Enrichment Facility, some 200 miles (322 km) south of the capital Tehran. (IRIB via AP)

Mohammad Javad Zarif, who was foreign minister when Iran and world powers agreed to the 2015 nuclear deal and is now vice president for strategic affairs, alleged in a recent interview that Israel once planted explosives in Iranian centrifuge equipment, according to a translation of his remarks by Iran International.

“Our colleagues had purchased a centrifuge platform for the Atomic Energy Organization, and it was discovered that explosives had been embedded inside it, which they managed to detect,” the opposition outlet quotes Zarif as telling the Hozour program.

He didn’t specify when the alleged incident occurred or mention Natanz, where former Mossad chief Yossi Cohen has intimated that Israel blew up Iran’s underground centrifuge facility in 2021.

In this file photo from February 23, 2021, Iran’s then-foreign minister Mohammad Javad Zarif addresses a conference in Tehran, Iran. (AP Photo/Vahid Salemi, File)

Zarif in the interview also decried sanctions on Iran, blaming them for forcing Tehran to turn to intermediaries — opening up vulnerabilities in the supply chain that Israel can take advantage of.

“Instead of being able to order equipment directly from the manufacturer, sanctions force you to rely on multiple intermediaries for such purchases,” he said. “If the Zionist regime infiltrates even one of the intermediaries, they can do anything and embed anything they want, which is exactly what happened.”

“The issue with the pagers in Lebanon turned out to be a multi-year process, meticulously orchestrated by the Zionists,” he noted, referring to the blasts in September directed against the Iran-backed Hezbollah terror group.

end

RUSSIA/UKRAINE

Ukraine Again Plunged Into Darkness After Huge Tit-For-Tat Aerial Strikes

Wednesday, Jan 15, 2025 – 12:45 PM

The last 24 hours have witnessed some of the biggest Russian and Ukrainian aerial exchanges of fire since the war’s start. The intensification comes just days ahead of Donald Trump entering the White House, soon after which he plans to pursue ceasefire negotiations between Moscow and Kiev. First, starting Tuesday:

Ukraine’s military has claimed its largest air attacks yet on Russian territory since the start of the war nearly three years ago as Donald Trump prepares to take the presidency in the United States.

The Russian Defence Ministry on Tuesday said it will retaliate for the large-scale missile and drone attacks overnight, and accused Ukraine of again using missiles supplied by the US and the United Kingdom.

Among the cities and industrial sites hit in that large-scale attack were Saratov and Engels, and daily life and schools were halted for Russians living there. Long-range drones were sent across the border to these far-flung regions.

Some of the energy hubs hit were hundreds of miles from the front line. Crucially multiple US-supplied ATACMS and British Storm Shadow missiles were used.

“Ukraine’s military said Tuesday that it also hit points in Bryansk, Tula and Tatarstan, with a chemical factory that makes rocket fuel and ammunition for Russia’s army among the targets,” a report notes.

Moscow has still threatened to again use its new intermediate-range hypersonic ballistic missile known as Oreshnik, which is said to be unstoppable using conventional anti-air defense measures.

On Wednesday Russia’s retaliation come in the form of major aerial attacks against Ukraine’s critical infrastructure, leading to emergency and rolling power blackouts across the country.

Massive Ukrainian drone strikes, some at long distances beyond Moscow…

At least seven regions have been impacted by blackouts, with Energy Minister German Galushchenko describing of the shutdowns, “Due to the huge attack, the transmission system operator is applying preventive restrictions.”

Locations as far away as Lviv region, near Poland, were hit by the new Russian missile launches:

Authorities in the western Lviv region, which borders Poland, said two critical infrastructure facilities had been hit in the Drogobych and Stryi districts but did not provide further details.

“Fortunately, there were no casualties, but there was damage,” Lviv region Governor Maksym Kozytsky wrote on social media.

Missile alert sirens sounded Wednesday throughout the whole country, including the capital area. “Ukrainian authorities had earlier issued air raid alerts for the entire country, warning of incoming cruise missiles,” AFP writes.

Scene from Ukraine’s Tuesday strikes on Russian military and critical infrastructure:

https://twitter.com/i/status/1879257312122331258

“The warning said that missiles were headed toward the central city of Kryvyi Rig, the northern Chernigiv region, central Poltava region and southern Mykolaiv region,” the report continues, with the air force also confirming that a “group of cruise missiles” was launched in the direction of Kyiv.

It appears each side is getting their major hits in just before Trump takes office, upon which diplomatic efforts to get the warring sides talking is expected to begin in earnest.

6.GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES

GLOBAL ISSUES//

MARK CRISPIN MILLER

Don’t “vaccination,” and the Blitzkrieg that incinerated all Pacific Palisades, PROVE that we are in the hands of psychopaths? You better believe it.

Those who literally CAN’T BELIEVE what the authorities have done to them and all the rest of us had better wake up fast, because their self-protective blindness has us all at risk

The authors of the worst atrocities in modern history have always grasped the chilling paradox that they were largely shielded from exposure by the very heinousness of what they’d done, and/or what they were doing. In other words, the perpetrators were, and are, protected from not so much by mass indifference (although that, surely, is a factor) as by mass incredulity—a sort of sentimental chauvinism, shielding us from guilty knowledge (and, therefore, complicity) by the authoritarian conviction that those in power on our side certainly would never do such things, whereas the Enemy (of course) does little else.

The maintenance of that mass delusion has required two strategies, one practical, one psychological. It was necessary, on the one hand, to keep the process of extermination, however vast and/or prolonged, completely out of sight, and never mention it, so that nobody (or very few) saw anything that contradicted the fundamental notion of state innocence. Thus Himmler placed the death camps off in rural Poland, and all the managers and other personnel involved in the extermination project shrouded it in euphemism. (“We will never speak of it,” Hitler told a conclave of SS generals in Poland on October 4, 1943.) Similarly, Stalin hid his famine in Ukraine by blacking out the windows on the trains running through that region, so that passengers—especially members of the foreign press—would catch no glimpses of that genocide (while Walter Duranty, Stalin’s creature at the New York Times, stoutly and repeatedly denied, in print, that there was any famine, though he later privately admitted that there was).

So much for the logistics of concealment. Such arduous cover-ups were enhanced by propaganda slyly playing to the masses’ wishful thinking that their leaders could not, would not do such horrid things. The Jews were merely being “resettled” in “the East,” while the “kulacks” were not starving (though they deserved it); and anyone saying otherwise was spouting enemy lies—an accusation of crude propaganda that itself was propaganda of the shrewdest kind.

The brief survey of totalitarian practice applies perfectly to the globalist killing spree ongoing all around us here and now, wherever “here” may be—a killing spree far more ingeniously concealed than the overt genocides so infamously carried out in the last century. The staggering toll of “vaccination” is effectively invisible, with millions killed, not by thousands all at once, but one by one, and (mostly) weeks, or months, or years after the lethal shot, their “sudden death” or “rare” fatal illness seeming wholly unconnected to the jab(s) that caused it…

END

DR PAUL ALEXANDER

I have written prior that the MASS culling of infected birds etc. is causing humans to contact the animals & get pink eye mild H5N1 symptoms (or some other microbe) & McCullough raises alarm

too that it’s workers doing mass killings when a birds (s) is infected; ‘put at risk for viral spread to the eyes, nose, and throat.’ LEAVE damn birds alone, they will recover with natural immunity

Dr. Paul AlexanderJan 14

READ IN APP

So it is the mass culling of any infected bird (s) and thus the flock it belongs to that is driving workers to be in contact and get pink eye and mild symptoms; nearly all persons who get sick it is because they touched the infected bird (s); in other words, we are spreading whatever it is by interfering with sick birds; why not leave them alone to recover and get natural immunity, just like humans, whatever dies, dies, and then they are fine? why mass cull? birds, chickens, cows etc. get sick like humans, get coughs, fever etc. too and get natural immunity;

also, we are concerned that it is Fauci et al. and these creeps, these malevolent beasts in deepstate with CDC, NIAID, NIH, FDA, HHS subversive reckless money grabbing officials et al. who are doing ‘serial passage’ in lab playing with pathogen in lab (s) to juice/gin it up to become more infectious and deadly to unleash on humanity; why in good heavens would anyone be doing this and if the answer is ‘to study it in case our enemies use it’, then that is not good enough for the risks are too great to humanity and actually, it is a crime against humanity punishable by death if you created a deadly pathogen and unleash it; IMO intentional or not; BUT, the goal is to create panic and drive fear of another fake, fraud PCR created non-pandemic for you to take the mRNA transfection vaccine (mass vaccination) by Malone Bourla Bancel Sahin Weissman Kariko et al. This is bioterrorism, deliberate.

Do not fall for this madness, keep the nasal pharyngeal passages clean using normal saline 0.9% solution, washing it out, diluted povidone iodine or hydrogen peroxide rinses swish and spit, no swallow, xylitol options and the mist from TWC…

END

What I was discussing in ‘leaked’ PRIVATE emails at HHS to FDA (Hahn), CDC (Redfield), Fauci (NIH/NIAID), Francis Collins, Birx etc. was the Great Barrington Declaration (Bhattacharya etc.);

leaked to hurt Trump; always, we strongly protect the high-risk vulnerable first, double and triple down protect & then with commonsense decisions, allow the rest of low-risk populations e.g. infants,

Dr. Paul AlexanderJan 15

READ IN APP

kids, teens, young adults, adults etc., the low-risk healthy population, and as you see, when I said ‘who cares, first it was not an email to be disseminated, it was not me speaking officially there, but between me, HHS, leadership at all health agencies, and oval office, ensuring they understood what HERD immunity is and was, and that once you first protect the vulnerable, FIRST, then and only then, you allow the rest of society to live open, free, unfettered lives, no lockdowns of any kind, so that naturally and harmlessly, they will bump up against any pathogen, any, and become exposed, infected, low or high level, mount immune response (innate or acquired adaptive with memory), recover, and then we bring the high-risk into juxtaposition with them for then they are naturally immune, at herd immunity, and this breaks the chain of transmission and you arrive at heard, so that they can NOW protect the high-risk vulnerable who cannot be exposed or get a vaccine. The high-risk elderly have no immune system (immuno-senescence) and cannot with even a vaccine, mount an immune response. They have no working immune system. This is why I am angry with the Malones and Bourla and Fauci and Birx et al. of this place for these bitches sat silent and pushing the vaccine knowing it could have never worked in elderly. There is no immune system to make memory with. In elderly, so even Jay Bhattacharya (NIH nominee) is flat wrong. He knows better, the elderly he said should get the mRNA vaccine have no immune system.

But look at how CNN and Politico reported and leaked this, well it was CDC insiders who leaked our communications. What did I say wrong? It works perfectly, it is as if you took a massive excavation shovel and scooped up all elderly and high-risk, placed them on an island, then allow the pathogen to burn through the low-risk population, they get infected, or not, and they recover, break the chain of transmission, with natural immunity and as such HERD immunity, then bring all back together again. Theoretically. Ideally but you can still do same with commonsense decisions and policies. Not lockdowns that harmed and killed as happened via OWS.

EVOLS NEWS

Trump Declares ‘I Had a Very Good Experience With TikTok’ as Supreme Court Weighs Ban – EVOLREAD MORE…

LATEST NEWS:

Neil Cavuto’s Replacement at Fox News Is Announced – EVOLRead more…Source: Jones, Sanders talk about Cowboys job – EVOLRead more…Biden Uses Loophole for Defiant Last Act on Student Loans — As Total Forgiveness Cost Hits $183 Billion – EVOLRead more…Mel Gibson Tells Joe Rogan Ivermectin ‘Cured’ Stage 4 Cancer – EVOLRead more…President Trump’s Campaign Garbage Truck to Be in Inauguration Day Parade – EVOLRead more…Palisades Fire’s Likely Cause Reportedly Revealed – EVOLRead more…Fetterman Reveals What He, Trump Discussed at Mar-a-Lago Meeting – EVOLRead more…TikTok Calls Report That China Is Exploring Sale of App to Elon Musk ‘Pure Fiction’ – EVOLRead more…

SLAY NEWS

Top Big Pharma Vaccinologist Admits Covid ‘Vaccines’ Are DangerousThe world’s leading vaccinologist and senior advisor to the pharmaceutical industry has gone on the record to admit that Covid mRNA “vaccines” are dangerous after years of insisting they are “safe and effective” for public use.READ MORE

UN Pushes Digital IDs to Fight ‘Global Warming’ by Forcing ‘Behavior Change’ Among PublicThe United Nations (UN) is calling on governments around the world to fight “global warming” by mandating digital ID systems to track members of the general public.READ MORE

Trump: ‘We Have to Defeat the Climate Hoaxers Once and for All’President Donald Trump has revealed that a key goal of his second term is to “decisively defeat” those responsible for pushing the “climate crisis” narratives.READ MORE

Canadian Government Admits Deaths Surged Among ‘Boosted’ CitizensThe Canadian government has admitted in a report that deaths have been surging among the nation’s citizens who received Covid mRNA “booster” shots.READ MORE

Arkansas Lawmakers Move to Hold Pharmaceutical Executives Criminally Liable for Vaccine InjuriesLawmakers in Arkansas are considering legislation that could deliver a death blow to the pharmaceutical industry.READ MORE

NYC Halal Food Cart Worker Filmed Catching Pigeon with Bare Hand Before Taking It into KitchenA shocking video has emerged showing a worker catching a pigeon with his bare hands on the streets of New York City before taking the bird into the kitchen of his halal food cart.READ MORE

NEWS ADDICTS

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

A very important commentary from the gang at Rabobank: re Trump’s tariffs!

Say Hello To The ‘External Revenue Service’

Wednesday, Jan 15, 2025 – 10:46 AM

Via Rabobank,

After US PPI yesterday surprised weaker and the US NFIB small business survey hit a six-year high, partly on hopes for lower inflation ahead, today is all about US CPI.

The hope was the data would be soft enough to halt the move higher in bond yields, which shrugged off a drop in oil prices yesterday, the rising dollar, falling stocks, and market chatter of a potential Fed hike in 2025… and a small miss for CPI sent yields careening lower…

However, rather than the higher/lower monthly gameshow, let’s look at the structural factors at play.

Few in markets called the last inflation episode.

March 2021 saw US headline CPI go over 2%, where it has still not returned and is trending higher: today’s consensus is another rise to 2.9%. We can’t claim any prizes as such, but in early June 2021 we warned that “understanding the global inflation outlook is currently more about (geo)politics/geoeconomics than it is about just economics or econometrics: we conclude that when encompassing this logic, the range of potential future inflation outcomes –and market reactions– varies hugely.” 

Then we got the invasion of Ukraine (geopolitics) and the passage of the US Inflation Reduction Act (politics).

Today, inflation is even more about (geo)politics/geoeconomics and the analogue world of farms, factories, trucks, ports, ships, rail, trucks, and warehouses than the fantasy digital one where things just arrive when needed which most economists inhabit.

President-elect Trump just announced a new “EXTERNAL REVENUE SERVICE”:

 “For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. I am today announcing that I will create the EXTERNAL REVENUE SERVICE [ERS] to collect our Tariffs, Duties, and all Revenue that come from Foreign sources. We will begin charging those who make money off with Trade, and they will start paying, FINALLY, their fair share.” 

Chatter is the ERS may come under the Treasury, where economic statecraft, whereas tariffs are currently collected by the Department of Homeland Security. This is still compatible with what I said yesterday about potential US tariffs T+1 or gradually scaled up, to ensure supply chains shift to the US before prices have to rise.

The historic pattern of US revenues –with a smaller state– is that until WW1 tariffs amounted to around 50%. That dropped sharply post-war as the US tried, and failed, to build a liberal world order to keep it safe and prosperous, and to close to zero after WW2, when it built a partial liberal world order with strong guardrails that won it the Cold War. Today, tariff revenue accounts for very little US revenue, albeit double what it was pre-Trump. Pushing tariff funding back up via the ERS –and domestic taxes down– reshapes the entire US, and global, economy. It means the US returning to its historic pre-WW2 norm of mercantilism. (When I used that term in 2015 nobody understood it. Many still don’t even though it’s now close to being US policy: then again, how many covering China have read Marx, Lenin, or Mao?)

China is already mercantilist, with a $1 trillion 2024 trade surplus. Indeed, as the US puts geopolitical limits on who gets the best AI chips, China is slowing the transfer of key inputs to firms trying to shift production away from it via its control of other related value chains. This necessitates shifting multiple value chains, at scale, to diversify just one. So, far more trade disruption, with a lag; or China-centric production for the world – and even the Pentagon.

In that light, I repeat that the US may have opened the door to actions vs. Chinese ocean carriers (such as Jones Act-style restrictions on their entry into US ports?), in response to a USTR report underlining how Beijing dominates global maritime industry, from shipping containers to shipbuilding to ocean carriers to ports.

Relatedly, US Defence Secretary nominee Hesgeth’s nomination hearing in Congress stressed a primary focus on rebuilding the lethality of the US military and readopting America’s historic Mahan naval-power maritime strategy. (Which would leave many others truly ‘In Deep Ship’.)

Trump also plans US “energy dominance” to shift from green energy back to fossil fuels, where the US has strategic and comparative advantage vs. China, and to lower US energy prices vs. others – which is obviously disinflationary for at least the US. The problem is US industry executives do not share his enthusiasm to “Drill, baby, drill.” Then again, economic statecraft is not about market forces: if the IRA passed under Biden introduced huge green incentives, what might a Trump counterpoint look like?

In short, this is a de facto geopolitical supply chain war in contrast to the neoliberal assumption that while individual firms compete ruthlessly, all economies are purely neutral parties/playing fields for their actions.  

The winners within this new paradigm face structurally higher inflation (in terms of their positive investment cycle and/or immediate tariffs) and then lower inflation (in terms of their higher supply-side capacity; and, where possible, via energy policy).

The losers face structurally higher inflation (in terms of choked-off supply chains; and, where mismanaged, via energy policy, i.e., Germany faces another week-long dunkelflaute with high fossil fuel use and high energy prices) alongside much lower inflation (in terms of the destruction of their domestic industry and employment).

Yes, that’s far more complicated than just saying “0.3% m-o-m”, which is what most wanted to hear about the US CPI consensus today; but as we warned back in mid-2021, things are a lot more complicated than the “So, inflation will come down soon…” crowd are saying.

7.OIL AND NATURAL GAS ISSUES/GLOBAL

CANADA/USA

Visualizing All Of Canada’s Cancelled Energy Projects

Tuesday, Jan 14, 2025 – 08:05 PM

Authored by Omid Ghoreishi via The Epoch Times (emphasis ours),

While Canada’s resource sector was dealt a blow with the cancellation of the Keystone XL pipeline’s permit by the United States, Canadian officials are facing another challenge as Michigan’s governor tries to shut down Enbridge’s Line 5 pipeline.

The Line 5 pipeline, which crosses Wisconsin and Michigan, brings oil from Western Canada east, where it is refined in Sarnia, Ont., into products like gasoline, diesel, and home-heating fuel. Shutting down Line 5 would have a major impact on the crude oil supply of Eastern Canada and cost thousands of jobs.

Some activist groups in Minnesota are also hoping to stop Calgary-based Enbridge’s Line 3 project, launching legal challenges and even hoping U.S. President Joe Biden will cancel the project like he did Keystone XL. Line 3, along with the Trans Mountain expansion project and Keystone XL, before the latter’s permit was revoked, are the three major oil pipeline projects currently underway in Canada.

But impediments to Canada’s pipeline and resource projects aren’t limited to the ones crossing the border. In recent years the country has seen a number of cancellations and hold-offs on energy projects located within its own borders. Some were due to market conditions and prioritization decisions by owners. But a considerable number of projects have been cancelled due to cited uncertainty in the regulatory process and environmental policies, as well as indigenous consultation complexities.

Ottawa has introduced new environmental legislation, including Bill C-69, which faced challenges from some provinces for increasing the regulatory burden. Bill C-69, which became law in 2019, set out a new federal process for the environmental impact assessment of major projects. The opposition Conservatives and industry groups said the legislation will scare away investors, while the Liberals said the existing legislation didn’t provide adequate environmental protections and that was why projects were getting stalled in the courts.

A 2019 study by the C.D. Howe Institute said that announcements of new energy and mining projects in Canada slowed after 2015. And between 2017 and 2018, the planned investment value of major resource sector projects went down by $100 billion, equivalent to 4.5 percent of Canada’s GDP, the study said.

“Many projects in Canada have faced environmental assessments that take much longer than in comparator jurisdictions: Canadian timelines for mining projects are substantially longer than in Australia, and Canadian pipeline approvals are protracted relative to those in the United States,” the study said.

The infographic below shows some of the energy projects that have been cancelled in Canada for various reasons between 2015 and 2020, adding up to an estimated investment loss of over $175 billion. Also shown are the three major pipeline projects: Keystone XL, the Trans Mountain expansion, and Enbridge’s Line 3.

In many cases, the cancellation of energy projects has had the impact of reducing market access for Canadian oil and gas exports. In the case of the Energy East pipeline, which was to deliver crude oil from Western Canada to Eastern Canada, the cancellation meant more reliance on foreign imported oil for Eastern Canada, more oil exported from Western Canada to the United States at a discount, and more use of other means of transportation to move the oil.

In 2019, Canada exported 3.8 million barrels of crude oil per day, with 3.7 million barrels per day of those exports going to the United States. That amounted to 98 percent of all Canadian crude oil exports, with Canada supplying 48 percent of the total U.S. crude oil imports. That year, Canada imported 0.8 million barrels of crude oil per day, with those imports primarily coming from the United States (79 percent), followed by Saudi Arabia (12 percent) and Russia (2 percent).

Click to enlarge

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

Canada

END

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

EURO VS USA DOLLAR:  1.0301 DOWN 5 BASIS PTS

USA/ YEN 156.99 DOWN 1.047 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 1.2227 UP .0016 OR 16 PTS

USA/CAN DOLLAR:  1.4355 UP 0.0005 (CDN DOLLAR DOWN 25 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 13.82 PTS OR 0.43%

 Hang Seng CLOSED UP 66.29 PTS OR 0.34%

AUSTRALIA CLOSED DOWN 0.18%

 // EUROPEAN BOURSE:     ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 66.29 PTS OR 0.34%

/SHANGHAI CLOSED DOWN 13.82 PTS OR 0.43%

AUSTRALIA BOURSE CLOSED DOWN 0.18

(Nikkei (Japan) CLOSED DOWN 29.72 PTS OR 0.08%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2683.50

silver:$29.94

USA dollar index early WEDNESDAY  morning: 108.95 DOWN 15 BASIS POINTS FROM  TUESDAY’s CLOSE.

WEDNESDAY  MORNING NUMBERS ENDS

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And now your closing WEDNESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.977% DOWN 10 in basis point(s) yield

JAPANESE BOND YIELD: +1.251% UP 1 AND 1/ 10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.192 DOWN 11 in basis points yield

ITALIAN 10 YR BOND YIELD 3.669 DOWN 17 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.5160 DOWN 11 BASIS PTS

IMPORTANT CURRENCY CLOSES :  WEDNESDAY 

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

Euro/USA 1.0326 up .0020 OR 20 basis points

USA/Japan: 156.24 DOWN 1.80 OR YEN IS DOWN 180 BASIS PTS//

Great Britain 10 YR RATE 4.7680 DOWN 18 BASIS POINTS //

Canadian dollar UP .0027 OR 27 BASIS pts  to 1.4324

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED UP 7.3308 (ON SHORE)..CHINA MUST DEVALUE TO GOLD  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.3412)

TURKISH LIRA:  35.47 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +1.251

Your closing 10 yr US bond yield DOWN 15 in basis points from TUESDAY at  4.645-% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.881 DOWN 16 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 4.268 DOWN 11  BASIS PTS.

GOLD AT 11;00 AM 2679.00

SILVER AT 11;00: 30.27

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

London: CLOSED UP 99.59 pts or 1.21%

German Dax : UP 50.92 pts or 0.69% 

Paris CAC CLOSED UP 303.35 pts or 1.50%

Spain IBEX CLOSED UP 146.40 PTS OR 1.25%

Italian MIB: CLOSED UP 522.37 PTS OR 1.49%

WTI Oil price  79.11 11 EST/

Brent Oil:  80.85 11:00 EST

USA /RUSSIAN ROUBLE ///   AT:  102.88 ROUBLE UP 0 AND  77/100      

GERMAN 10 YR BOND YIELD; +2.5160 DOWN 11 BASIS PTS.

UK 10 YR YIELD: 4.7670 DOWN 20 BASIS POINTS

CDN 10 YEAR RATE: 3.472 DOWN 9 BASIS PTS.

CDN 5 YEAR RATE: 3.194 DOWN 9 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0296 DOWN 0.0009 OR 9 BASIS POINTS//HEADING TO PARITY WITH THE DOLLAR

British Pound: 1.2244 UP 0.0034 OR 34 basis pts/HEADING FOR PARITY /USA

BRITISH 10 YR GILT BOND YIELD:  4.735 DOWN 13 BASIS PTS//

JAPAN 10 YR YIELD: 1.252

USA dollar vs Japanese Yen: 156..46 DOWN 1.585 OR 159 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.4329 DOWN .0022 BASIS PTS CDN DOLLAR UP 22 BASIS PTS

West Texas intermediate oil: 80.53

Brent OIL:  82.49

USA 10 yr bond yield DOWN 14 BASIS pts to 4.647

USA 30 yr bond yield DOWN 11 BASIS PTS to 4.897%

USA 2 YR BOND: DOWN 10 PTS AT  4.270

CDN 10 YR RATE 3.440 DOWN 13 BASIS PTS

CDN 5 YEAR RATE: 3.162 DOWN 12 BASIS PTS

USA dollar index: 108.89 DOWN 22 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 35.46 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  102.50 UP 0 AND  85/100 roubles

GOLD  2,695.70 (3:30 PM)

SILVER: 30.70 (3:30 PM)

DOW JONES INDUSTRIAL AVERAGE: UP 703.27 PTS OR 1.65%

NASDAQ 100 UP 480.44 PTS OR 2.31%

VOLATILITY INDEX: 16.11 DOWN 2.60 PTS OR 13.90%

GLD: $ 248.88 OR UP 1.85 PTS OR 0.75%

SLV/ $27.96 PTS OR UP 2.79 OR 0.89%

TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 219.73 PTS OR 0.89%

end

TRADING HEADLINES ZEROHEDGE

‘Buy All The Things’ – Benign CPI & Bullish Bank EPS Sparks Face-Ripping Short-Squeeze

USA AFFAIRS/HEADLINES /cpi

Consumer Prices Soared Over 21% Under Biden

Wednesday, Jan 15, 2025 – 08:39 AM

After rising for 5 straight months, analysts expected headline consumer prices to continue accelerating in December (+0.4% MoM exp) and it did exactly that – the highest MoM print since March, leading the YoY CPI to rise 2.9% (the highest since July)…

Source: Bloomberg

CPI details:

Food

The index for food increased 0.3% in December, after rising 0.4% in November. The food at home index also rose 0.3% over the month. Four of the six major grocery store food group indexes increased in December. The index for cereals and bakery products rose 1.2% over the month, after falling 1.1% in November. The meats, poultry, fish, and eggs index increased 0.6 percent in December, as the eggs index rose 3.2 percent. The index for other food at home rose 0.3 percent over the month and the index for dairy and related products increased 0.2 percent.

Energy

The energy index increased 2.6% in December, after rising 0.2% in November. The gasoline index increased 4.4% over the month. (Before seasonal adjustment, gasoline prices decreased 1.1 percent in December.) The natural gas index rose 2.4 percent over the month and the index for electricity rose 0.3 percent in December. The energy index decreased 0.5 percent over the past 12 months. The gasoline index fell 3.4% over this 12-month span and the fuel oil index fell 13.1 percent over that period. In contrast, the index for electricity increased 2.8 percent over the last 12 months and the index for natural gas rose 4.9 percent.

All items less food and energy

The index for all items less food and energy rose 0.2 percent in December, after rising 0.3 percent in each of the 4 preceding months.

• The shelter index increased 0.3 percent in December, as it did in November.
  • The index for owners’ equivalent rent also rose 0.3 percent over the month, as did the index for rent.
  • The lodging away from home index fell 1.0 percent in December, after rising 3.2 percent in November.
• The medical care index increased 0.1 percent over the month, after rising 0.3 percent in October and November.
• The index for physicians’ services increased 0.1 percent in December and the index for hospital services rose 0.2 percent over the month.
• The airline fares index rose 3.9 percent in December, after rising 0.4 percent in the previous month.
• The index for used cars and trucks rose 1.2 percent over the month and the index for new vehicles increased 0.5 percent.
• Other indexes that increased in December include motor vehicle insurance, recreation, apparel, and education.
• In contrast, the index for personal care fell 0.2 percent in December after rising 0.4 percent in November. The indexes for communication and alcoholic beverages also declined over the month. The household furnishings and operations index was unchanged in December

The resurgence of energy costs drove the hot headline CPI along with Core Services…

Source: Bloomberg

Core CPI (ex Food and Energy) dipped to +0.2% MoM (below the 0.3% exp) and the YoY pace of inflation slowed to 3.24% YoY. Core CPI rose EVERY month under Biden…

Source: Bloomberg

Core Goods price inflation slowed MoM (but deflation is gone on a YoY basis)…

Source: Bloomberg

The Fed’s favorite indicator of the CPI bunch – SuperCore or Services CPI ex-Shelter – rose 0.28% MoM (slowing the pace of annual inflation to +4.17%)…

Source: Bloomberg

Transportation Services were not MoM…

Source: Bloomberg

Overall, it’s energy costs that are re-emerging as a drive of inflation… thanks Joe!

Source: Bloomberg

…and Energy prices aren’t going down anytime soon in the CPI world… thanks Joe!

Source: Bloomberg

While Producer Prices under Biden rose at triple the rate they did under Trump, Consumer Prices soared 21.25% under Biden (+4.9% p.a.) vs 8%, 1.94% p.a. under Trump…

Source: Bloomberg

Finally, equity traders were braced for a volatile day ahead of the print, with options implying moves of 1.1% in either direction for the S&P 500, the most for a CPI day since March 2023.

III USA ECONOMIC NEWS

LOS ANGELES FIRES/UPDATE

Return Of Strong Winds Spark “Dangerous Situation” Across Fire-Ravaged Palisades

Tuesday, Jan 14, 2025 – 08:00 AM

One week after the fires in Los Angeles County began, the blazes remain out of control, scorching nearly 40,000 acres and leveling entire neighborhoods. On Tuesday, winds are expected to gust between 45 and 70 mph, accompanied by dry air, significantly increasing the risk of fire spread.

The National Weather Service has issued “Particularly Dangerous Situation Red Flag Warnings” for L.A. and Ventura counties through Wednesday evening, warning that “this setup is about as bad as it gets.”

Strong gusts could derail any progress made by firefighters early this week across two of the main fires, the Palisades and Eaton fires. The blazes have burned upwards of 40,000 and leveled entire neighborhoods and burned more than 12,000 structures. At least 24 people have died, with the death toll expected to rise. 

https://twitter.com/i/status/1879137368562966899

Here’s the latest update on the two main fires (courtesy of the L.A. Times): 

Palisades Fire:

Burned 23,713 acres and numerous homes, businesses and landmarks in Pacific Palisades and westward along Pacific Coast Highway, toward Malibu. As of Monday morning, the fire was 14% contained, up from 11% early Sunday. Many parts of Pacific Palisades, Malibu, Calabasas, Brentwood and Encino are under evacuation orders or warnings. More than 12,000 structures remain threatened. Santa Monica has downgraded its mandatory evacuation orders to warnings. Officials estimate that more than 5,300 structures, including many homes, have been damaged or destroyed.

Eaton Fire:

Burned 14,117 acres and many structures in Altadena and Pasadena. As of Monday morning, the fire was 33% contained, up from 27% early Sunday. Officials say 7,000 structures have been damaged in the fire. Most of Altadena was under an evacuation order, as was unincorporated Kinneloa Mesa. In Pasadena, a mandatory evacuation order was in place in the northern half of the neighborhood of Hastings Ranch. In Sierra Madre, mandatory evacuations were in effect in some areas north of Grand View Avenue, and voluntary evacuations were in place in other portions of the city.

As of Tuesday morning, the Palisades and Eaton Fires remained largely uncontrolled with low containment.

Fire Map (L.A. Times): 

The latest losses for the insurance industry could be monumental, with some figures pointing to $30 billion, if not more. 

https://twitter.com/i/status/1879111032842440723

Wells Fargo and Goldman Sachs analysts have published new insured loss estimates that surpass JPMorgan’s predictions of $20 billion from last week. 

Goldman analysts believe estimated insured losses could be between $10 and $30 billion, with the figure for uninsured losses north of $40 billion. 

Wells Fargo analyst noted that home insurance providers Allstate, Chubb, American International Group, and Travelers are some of the most exposed insurers of the fires.

Mercury General and Cincinnati Financial are the most exposed insurers… 

• California-Based Insurer Crashes Amid Billions In LA Area Fire-Damage Losses

On Monday morning, L.A. residents sued Energy company Edison International for its alleged role in igniting at least one of the wildfires. 

Bloomberg reported, “The lawsuit is on behalf of a group of homeowners, renters, business owners and others with properties destroyed by the Eaton Fire in the Pasadena area,” adding, “The suit alleges a Southern California Edison pole holding power lines was the cause of the blaze that leveled the town of Altadena.”

By the evening, property owners in Palisades sued the city of Los Angeles’ electric and water utility for not supplying enough water to firefighters. The plaintiffs claim that a reservoir in the area was drained, causing low pressure in fire hydrants.

https://twitter.com/i/status/1878088302936379881

Latest Zero Hedge headlines:

• 10 Dead, 10,000 Structures Burned In Los Angeles Area Inferno As Fire Damage Could Exceed $150 Billion
• “Do Not Panic Buy”: Officials Urge Calm As LA Fire Crisis Disrupts Main Fuel Pipeline To Las Vegas
• “We’re Not Screwing Around”: L.A. Sheriff Declares Curfew Amid Arson & Looting Chaos
• California-Based Insurer Crashes Amid Billions In LA Area Fire-Damage Losses
• Arson Threats A “Major Issue” In Wildfire-Ravaged Los Angeles County
• California Imposes 1-Year Insurance Cancellation Freeze In Areas Ravaged By Wildfires
• Palisades Fire Crisis Intensifies Ahead Of Windstorm Event Early Next Week
• Three Military Humvees, Machine Gun Mounts, Stolen Outside Of Los Angeles
• Palisades Fire Threatens New Upscale Communities As Santa Ana Winds Return
• California’s Insurance Crisis Just Got A Whole Lot Worse
• AP News Heavily Ratioed For Blaming Palisades Fire On Climate Change
• Why Was Pacific Palisades Reservoir Empty? It Gets Worse…
• L.A. Residents Sue Edison Utility Over Potential Role In Palisades Fire
• Blaming ‘Climate Change’ For LA Fires Only Makes Newsom Look Criminally Incompetent

Other headlines via L.A. Times, WaPo, Bloomberg, etc… 

• L.A. Times: Crews battle brush fire in Oxnard as Santa Ana winds sweep through the region
• WaPo: Los Angeles County district attorney charges 9 people with looting
• WaPo: Republicans say they want to put conditions on wildfire aid to California
• BBG: LA Arrests Mount Over Looting, Curfews in Fire Evacuation Zones
• BBG: L.A. City Utility Sued Over Water Shortage for Palisades Fire
• BBG: L.A. Wildfires Insurance Cost Estimates Spike to $30 Billion
• END

END

extra tankers and more firefighters arrive in LA as high winds return

(EpochTimes)

Extra Tankers And Firefighters Arrive In LA As High Winds Threaten To Return

Wednesday, Jan 15, 2025 – 08:45 AM

Authored by Guy Birchall via The Epoch Times (emphasis ours),

Extra firefighters and water tankers have arrived in Los Angeles, as the city braces for more high winds.

The tankers are replenishing water supplies after fire hydrants ran dry last week as the city battled to rein in the flames, with the additional firefighters drawn from across the United States, Canada and Mexico.

The infernos have destroyed thousands of homes and killed at least 24 people in the City of Angels and nearby areas.

Los Angeles County Sheriff Robert Luna said on Monday that figure was likely to rise, with at least two dozen other people still missing.

Luna went on to say that he understands people were keen to return to their homes but asked them to be patient, adding, “We have people literally looking for the remains of your neighbors.”

In less than a week, an area of more than 62 square miles, roughly three times the size of the island of Manhattan, has been charred by four separate blazes.

As it stands, the Eaton Fire near Pasadena is around one-third contained, while containment on the largest blaze in Pacific Palisades on the coast is only about 17 percent.

During an operational briefing on Tuesday morning involving all departments dealing with the blaze, it was revealed that the Palisades Fire now had a containment line all around its perimeter, thanks to the efforts of some 5,200 personnel.

Monday saw planes douse homes and hillsides around the city with pink fire-retardant chemicals, while crews and fire engines were being placed near areas where the brush was particularly dry.

The Santa Ana winds which contributed to the destruction last week are predicted to pick up again early on Tuesday and continue through midday Wednesday, according to the National Weather Service (NWS).

The NWS warned the weather will be “particularly dangerous” on Tuesday, with gusts potentially reaching 65 mph.

The winds are not expected to reach the same hurricane-force strengths as last week, but could ground aircraft involved in the response, according to LA County Fire Chief Anthony Marrone, who said that if winds reach 70 mph, “it’s going to be very difficult to contain that fire.”

As a result, fire officials have advised residents in high-risk areas to just leave home if they feel they are in danger, rather than waiting for formal evacuation orders.

Currently, less than 100,000 people in Los Angeles County remain under evacuation orders, half the number from last week.

However, a large swathe of Southern California around Los Angeles is under this extreme fire danger warning through Wednesday, including the densely populated areas of Thousand Oaks, Northridge and Simi Valley.

After facing criticism for the response to the fires last week, Marrone said that his department were “absolutely better prepared.”

“We’re absolutely better prepared,” Marrone said when asked what will be different from a week ago, when hurricane-force winds propelled multiple fires across the parched, brush-filled region that hasn’t seen rain in more than eight months.

More than 8,500 firefighters attacked the fires from the air and on the ground, preventing conflagrations at either end of Los Angeles from spreading overnight from Monday into Tuesday.

There have been more than a dozen wildfires in Southern California, which hasn’t seen significant rainfall in more than eight months, since Jan. 1, mostly in the greater Los Angeles area.

The latest started late on Monday in a dry riverbed in an agricultural area of Oxnard, about 55 miles northwest of Los Angeles.

In the aftermath of the flames, dozens have been arrested for looting, and officials warned that they are also seeing the beginning of price gouging and scams, relating to hotels, short-term rentals, and medical supplies, Los Angeles County District Attorney Nathan Hochman said.

Three others have also been arrested on suspicion of arson, according to Los Angeles Police Chief Jim McDonnell.

One person was allegedly using a barbecue lighter to start fires, while another set a trash can ablaze, and a third was caught lighting brush on fire.

He said that all those small fires had been swiftly extinguished.

More than 12,000 homes, cars, and other structures have been destroyed by the blazes, for which authorities are yet to determine a cause.

Southern California Edison, the electrical utility for Los Angeles, has acknowledged agencies are investigating whether its equipment may have sparked a smaller blaze, however, a lawsuit filed on Monday claims the utility’s equipment lit the far larger Eaton Fire.

Edison said last week that it had not received any suggestions that its equipment ignited that blaze.

The infernos could prove to be the costliest fires to ever burn in the United States, according to early estimates from AccuWeather, which suggests economic damage could rise to over $250 billion.

President Joe Biden expressed his and First Lady Jill Biden’s sorrow over the loss of 24 lives, saying on Monday: “Our hearts ache for the 24 innocent souls we have lost in the wildfires across Los Angeles. Jill and I pray for them and their loved ones.”

The Associated Press contributed to this report.

end

Wildfire Woes: California Regulators Halted Palisades Fire Prevention Project to Save Rare Shrub

Tuesday, Jan 14, 2025 – 06:50 PM

California’s eco-regulators halted a critical wildfire prevention project near Pacific Palisades to protect an endangered shrub – only for that same area to be engulfed in flames during the Palisades Fire, the most destructive blaze in Los Angeles history.

In 2019, the LA Department of Water and Power (LADWP) set out to replace aging wooden power poles – some nearly a century old – with fire-resistant steel poles and widen fire-access lanes in the wildfire-prone Topanga State Park. The $2 million project was designed to bolster fire safety after the area was deemed an “elevated fire risk.”

“This project will help ensure power reliability and safety, while helping reduce wildfire threats,” the LADWP stated at the time, the NY Post reports.

But the effort came to an abrupt halt when an amateur botanist hiking through the park noticed that some of the rare Braunton’s milkvetch shrubs – an endangered species with only a few thousand wild specimens – had been damaged during the work. Conservationists raised alarms, accusing the city of working without proper permits, and California’s Coastal Commission ordered the LADWP to stop the project, replant the damaged shrubs, and pay $2 million in fines.

Fast forward to 2024: Nearly 24,000 acres – including much of Topanga Canyon – have gone up in smoke, taking with them not only homes and wildlife but the same shrubs the project was supposed to protect.

The Palisades Fire has destroyed 12,000 homes, businesses, schools and other structures – and has claimed at least 24 lives, and left thousands displaced. Meanwhile, firefighters struggled with low water pressure and empty hydrants as they battled the inferno.

The controversy over conservation versus fire prevention has reignited fierce debates. Critics point out that key reservoirs, such as the Santa Ynez Reservoir—capable of holding 117 million gallons—were bone-dry when the fire erupted. Despite assurances from Governor Gavin Newsom that Southern California reservoirs were “completely full,” the empty reservoir has become a focal point of frustration.

Newsom has since launched an investigation into the reservoir’s failure, but the timing has done little to quell criticism.

A Growing Political Firestorm

President-elect Donald Trump seized on the disaster to criticize Newsom’s handling of wildfire prevention. Trump blasted the governor’s conservation policies, accusing him of prioritizing “worthless” wildlife over human lives.

“He wanted to protect an essentially worthless fish called a smelt … but didn’t care about the people of California,” Trump wrote on Truth Social, referring to the delta smelt, a near-extinct fish that has become a symbol of California’s ongoing water wars.

The feud between Trump and Newsom dates back to 2020 when Newsom sued to block Trump’s federal order to divert Northern California water to Southern California reservoirs, citing concerns for endangered species. The delta smelt’s near-extinction has fueled arguments from both sides: environmentalists decry the ecological loss, while critics say conservation efforts have yielded little but regulatory red tape.

Environmentalists defending the Braunton’s milkvetch argue that wildfires can help the plant sprout from dormant seeds, creating an opportunity for the shrub to regrow. However, critics see the loss of homes and lives as a stark reminder of the cost of bureaucracy.

Despite promises to prioritize fire prevention, the Pacific Palisades area remains a cautionary tale of what happens when disaster preparedness collides with environmental red tape. Neither the LADWP nor the California Coastal Commission has responded to requests for comment, leaving residents wondering if the very policies meant to protect them helped fan the flames.

END

(COURTESY JACK PHILLIPS/EPOCHTIMES)

LA Police Chief Says 3 Suspected Arsonists Arrested After Being Caught Amid Deadly Wildfires

The three suspects, whose names were not revealed, were booked into local jails, officials said.

Firefighters watch as water is dropped on the Palisades Fire in Mandeville Canyon in Los Angeles on Jan. 11, 2025. Jae C. Hong/AP Photo

By Jack Phillips

1/14/2025Updated:1/14/2025PrintX 1

Los Angeles Police Department (LAPD) Chief Jim McDonnell on Tuesday gave more details on the arrests of three arson suspects, in light of wildfires that have scorched thousands of acres in Los Angeles in recent days.

“On Sunday night, our North Hollywood officers responded to a call of a possible arson suspect who was using a barbecue lighter to light fires. Officers arrived on the scene, and the suspect was arrested for an outstanding felony warrant for arson and booked into Van Nuys jail,” McDonnell told a news conference.

A day later, police made two more “arrests related to the fires,” including an arrest on Van Nuys Boulevard after a suspected arsonist lit a fire in nearby brush, he added. That fire was extinguished by Los Angeles Fire Department officials, McDonnell said, adding that the individual was arrested on arson charges and is currently in jail.

Also on Monday, officials responded to a radio call of a suspected arsonist on San Vicente Boulevard in the West Los Angeles area, he said. That person had set alight a nearby trash can, which was extinguished by fire officials, he added.

“Citizens directed the officers to the suspect location, where he was then taken into custody without incident,“ the police chief said. ”Video from local businesses showed footage of the suspect starting fires in that area. He was booked into our jail for arson.”

No details on the suspects’ names, countries of origin, or other details were provided.

The three arson arrests, which took place outside the fire area, were in addition to 14 arrests by the LAPD in the Palisades Fire area, McDonnell said. Those arrests included curfew violations, impersonating a police officer and a firefighter, ammunition, burglary, and other offenses.

Meanwhile, in sheriff-patrolled fire areas, there have been 39 arrests for looting, illegal operation of drones that could interfere with firefighting aircraft, curfew violations, and other alleged crimes, Los Angeles County Sheriff Robert Luna said.

On Monday, Los Angeles County District Attorney Nathan Hochman told a news conference that charges had been filed against nine suspected looters and a suspected arsonist.

“These crimes are appalling and represent a direct attack on our community during a time of unprecedented loss and vulnerability,” Hochman said in a statement. “Let me be clear: If you exploit this tragedy to prey on victims of these deadly fires, we will find you and we will prosecute you to the fullest extent of the law.”

About 88,000 people in Los Angeles County remain under evacuation order as of Tuesday.

A red flag warning due to dry conditions and high winds went into effect on Tuesday morning, affecting much of Los Angeles and Ventura counties. It is expected to last through Wednesday evening. Some areas are under an additional “particularly dangerous situation” warning.

Authorities said an additional 84,800 people could be evacuated if the fires spread due to winds.

The death toll from the fires rose to 24 over the past weekend, and officials have cautioned that the figure could rise.

McDonnell said that as of Tuesday morning, of the 34 people reported missing, 21 have been found safe, “two have most likely been found deceased but have yet to be positively identified,” and 11 remain unaccounted for.

Some 40,000 people have already applied for assistance from the Federal Emergency Management Agency (FEMA), which has provided more than $8 million so far for immediate needs, said Robert J. Fenton Jr., regional administrator for FEMA Region 9.

Fenton said at the news conference on Tuesday that victims will still need to file insurance claims. FEMA aid “is not a substitute for insurance” but is designed to help with unmet needs—after insurance claims are paid, he said. However, recent legislation now allows FEMA to assist those who are underinsured, he added

END

LOS ANGELES FIRE REPORT/THIS MORNING

L.A. County Inferno Expected To Top $250 Billion In Losses

Wednesday, Jan 15, 2025 – 07:20 AM

A week after a devastating inferno leveled large swaths of Pacific Palisades and Altadena to ash, Los Angeles County remained under a severe fire threat on Wednesday morning. Residents have been left in a state of shock, expressing frustration over what many see as possible negligence by county and/or state officials to mitigate the spread of the fires. The fires have become the region’s worst fire disaster in history, with new damage and economic loss estimates between $250 billion and $275 billion, according to AccuWeather. 

“These fast-moving, wind-driven infernos have created one of the costliest wildfire disasters in modern U.S. history,” AccuWeather Chief Meteorologist Jonathan Porter said, adding, “Hurricane-force winds sent flames ripping through neighborhoods filled with multi-million-dollar homes. The devastation left behind is heartbreaking, and the economic toll is staggering.”

AccuWeather predicted economic damages between $250 billion and $275 billion had eclipsed inflation-adjusted damages of $200 billion from Hurricane Katrina, according to JPM analysts. 

“Nonetheless, we think the short-term effect on national GDP growth, employment, and inflation will be small, though this could change if the fires worsen substantially,” the analysts said. 

At the end of last week, AccuWeather estimated total economic damages to be around $150 billion, while analysts from other desks expected insured losses north of $20 billion. 

The analysts noted, “That is a significant volume of insured losses, but it also suggests the majority of economic losses are uninsured.” 

The concentration of wealth in Pacific Palisades is high. According to IRS data analyzed by JPM, the average home in the area is valued at $3.5 million, yet more than half of tax returns report an adjusted gross income under $200,000. In Altadena, where the average home value exceeds $1.2 million, over 80% of tax filings show incomes below $200,000, with more than 60% reporting less than $100,000.

“Construction costs will be lower than home values though: in 2019, Redfin estimated that land value was 60% of the price of a home in Los Angeles, the highest share among any major metro area,” the analysts pointed out. 

As of Wednesday morning, many parts of Pacific Palisades, Malibu, Calabasas, Brentwood, and Encino remain under evacuation orders or warnings. At least 12,000 building structures have burned, displacing thousands of households. 

Here’s the latest information on the fires (courtesy of L.A. Times):

Palisades Fire:

Burned 23,713 acres and numerous homes, businesses and landmarks in Pacific Palisades and westward along Pacific Coast Highway, toward Malibu. As of 7:00 a.m. Tuesday morning, the fire was 17% contained, up from 14% early Monday. Many parts of Pacific Palisades, Malibu, Calabasas, Brentwood and Encino are under evacuation orders or warnings. More than 12,000 structures remain threatened. Santa Monica has downgraded its mandatory evacuation orders to warnings. Officials estimate that more than 5,300 structures, including many homes, have been damaged or destroyed.

Eaton Fire:

Burned 14,117 acres and many structures in Altadena and Pasadena. As of 7 a.m. Tuesday morning, the fire was 35% contained, up from 33% early Monday. Officials say 7,000 structures have been damaged in the fire. Most of Altadena was under an evacuation order, as was unincorporated Kinneloa Mesa. In Pasadena, a mandatory evacuation order was in place in the northern half of the neighborhood of Hastings Ranch. In Sierra Madre, mandatory evacuations were in effect in some areas north of Grand View Avenue, and voluntary evacuations were in place in other portions of the city.

Latest Zero Hedge headlines:

• 10 Dead, 10,000 Structures Burned In Los Angeles Area Inferno As Fire Damage Could Exceed $150 Billion
• “Do Not Panic Buy”: Officials Urge Calm As LA Fire Crisis Disrupts Main Fuel Pipeline To Las Vegas
• “We’re Not Screwing Around”: L.A. Sheriff Declares Curfew Amid Arson & Looting Chaos
• California-Based Insurer Crashes Amid Billions In LA Area Fire-Damage Losses
• Arson Threats A “Major Issue” In Wildfire-Ravaged Los Angeles County
• California Imposes 1-Year Insurance Cancellation Freeze In Areas Ravaged By Wildfires
• Palisades Fire Crisis Intensifies Ahead Of Windstorm Event Early Next Week
• Three Military Humvees, Machine Gun Mounts, Stolen Outside Of Los Angeles
• Palisades Fire Threatens New Upscale Communities As Santa Ana Winds Return
• California’s Insurance Crisis Just Got A Whole Lot Worse
• AP News Heavily Ratioed For Blaming Palisades Fire On Climate Change
• Why Was Pacific Palisades Reservoir Empty? It Gets Worse…
• L.A. Residents Sue Edison Utility Over Potential Role In Palisades Fire
• Blaming ‘Climate Change’ For LA Fires Only Makes Newsom Look Criminally Incompetent
• Return Of Strong Winds Spark “Dangerous Situation” Across Fire-Ravaged Palisades
• Wildfire Woes: California Regulators Halted Palisades Fire Prevention Project to Save Rare Shrub

Headlines via L.A. Times (local paper not thrilled with mayor & other city officials who failed the taxpayers): 

• L.A. fire officials could have put engines in the Palisades before the fire broke out. They didn’t
• Mayor Karen Bass was at embassy cocktail party in Ghana as Palisades fire exploded
• L.A. City Council seeks transparency on empty reservoir, dry fire hydrants
• A week after the L.A. firestorms began, the threat continues as the unprecedented losses sink in
• END

END

2025: The Year The Federal Debt Bubble Bursts

Tuesday, Jan 14, 2025 – 06:25 PM

Authored by Nick Giambruno via InternationalMan.com,

I expect 2025 to be a year of profound transformation, where old paradigms are rendered obsolete.

While nothing is certain, I think we can count on radical changes in 2025.

Navigating new paradigms in finance, geopolitics, and energy will be crucial for investors.

A primary focus in my research is to put together the pieces to reveal the true Big Picture and get positioned in unstoppable investment trends ahead of the crowd with smart speculations.

I’m more interested in getting the Big Picture right than gambling on short-term trades in rigged markets.

Understanding the Big Picture has always been essential. But given the scale of changes looming, I can’t think of another year in living memory where it will be more critical than in 2025.

Of particular importance is the US governments financial situation, which has been gradually deteriorating for decades. It’s not surprising that many people are complacent. They’ve long heard about the debt problem, and nothing has happened.

However, I think there’s an excellent chance that 2025 could be the year we see a paradigm shift, shattering conventional mental and financial models for the federal debt.

A crucial tipping point was reached in 2024 when the interest expense on the federal debt exceeded the defense budget for the first time. It’s on track to exceed Social Security and become the BIGGEST item in the federal budget.

Historian Niall Ferguson summed it up nicely:

“Any great power that spends more on debt service (interest payments on the national debt) than on defense will not stay great for very long.

True of Habsburg Spain, true of ancien régime France, true of the Ottoman Empire, true of the British Empire, this law is about to be put to the test by the US beginning this very year.”

The US government will soon have to choose to:

1. Cut defense spending amid the most chaotic geopolitical period since WW2.
2. Default on its promises regarding Social Security, Medicare, Veterans’ Benefits, and welfare generally.

Though it may try, the US government cannot continue to pay for entitlements and defense even if their current levels stay flat into the future. But they won’t stay flat. Both are set to grow significantly in the years ahead.

Tens of millions of Baby Boomers—about 22% of the population—will enter retirement in the coming years. Cutting Social Security and Medicare is a sure way to lose an election.

With the most precarious geopolitical situation since World War 2, defense spending is unlikely to be cut. Instead, defense spending is all but certain to increase.

Former Secretary of Defense Robert Gates recently said: “Barely staying even with inflation or worse is wholly inadequate. Significant additional resources for defense are necessary and urgent.”

In short, efforts to reduce expenditures will be meaningless unless it becomes politically acceptable to make chainsaw-like cuts to entitlements, national defense, and welfare while reducing the national debt to lower the interest cost.

In other words, the US would need a leader who—at a minimum—returns the federal government to a limited Constitutional Republic, closes the 128 military bases abroad, ends entitlements, kills the welfare state, and repays a large portion of the national debt.

However, that’s a completely unrealistic fantasy. It would be foolish to bet on that happening.

That’s why Elon Musk and DOGE are being set up for failure.

The Bottom Line

The government cannot even slow the spending growth rate, let alone cut it.

Expenditures have nowhere to go but up—way up.

The most likely outcome is that the US will try to have its cake and eat it too by paying for both growing defense and domestic obligations via currency debasement.

That’s why I’m confident that ever-increasing currency debasement is the inevitable outcome of the US government’s debt spiral.

It’s a self-perpetuating doom loop from which they cannot escape.

It’s like being on a runaway train with no brakes.

I suspect 2025 will be the year this becomes evident as previous mainstream conceptions about the national debt collapse.

• “We owe it to ourselves.”
• “Deficits don’t matter.”
• “Treasuries are risk-free return.”
• “The national debt is sustainable as long as we can print money.”
• “The US will never default.”

These have long been ridiculous tropes that many investors believed.

2025 could be the year the people who believe this nonsense receive a harsh reality check.

As this trend unfolds, I expect the rate of debasement will far exceed the nominal yield that Treasuries and most other bonds will offer.

That means people will look for alternatives to park their savings to preserve their purchasing power.

Instead of parking their savings in Treasuries, I believe people, companies, and countries will increasingly park their savings in gold. It’s already happening in a big way.

While this megatrend is already well underway, I believe the most significant gains in precious metals are still ahead.

Holding physical gold bullion in a private non-bank vault in a wealth-friendly jurisdiction like Singapore, Switzerland, or the Cayman Islands is a good idea.

That’s why I just released an urgent new PDF report with all the details. Click here to download it now.252

More e

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

END

VDH

KING REPORT

The King Report January 15, 2025 Issue 7410

Independent View of the News

Dec PPI 0.2% m/m & 3.3% y/y; 0.4% m/m & 3.5% y/y expected.  Core PPI 0.1% m/m and 3.5% y/y; 0.3% m/m & 3.8% y/y expected.   @NickTimiraos: The Fed’s preferred gauge, the PCE price index, sources price data from the PPI and the CPI. While the PPI was below expectations on Tuesday, some components from the PPI that feed into the PCE were firm in December, namely a big increase in domestic airfares.   ESHs traded moderately high but sideways from the Nikkei opening until they rallied after the 3 ET European opening.  ESHs hit 5913.50 at 3:48 ET and then declined until they hit 5875.25 at 8:24 ET.  ESHs soared to a daily high of 5918.50 two minutes before the official 8:30 ET release of the PPI Report.   ESHs quickly reversed into a stair-step decline that took ESHs to a daily low of 5844.75 at 11:58 ET.   Just before noon ET, the DJIA was -85ish; the DJTA was +92ish; the S&P 500 Index was -20ish; USHs were -4/32; gasoline was +1.80; oil was -1.03; Fangs were down moderately.   The Noon Balloon deflated quickly; ESHs fell to a new low of 5842.50 at 12:35 ET.  ESHs surged after 12:45 ET on rabid buying for the expected Afternoon Rally.  After ESHs hit 5898.75 at 14:25 ET, the rally stalled.  Zero days to expiration (0DTE) call holders panicked.  ESHs tumbled to 5848.75 at 15:07 ET.  The late manipulation forced ESHs to 5887.00 at 16:00 ET.   Positive aspects of previous session Expiry Week and Earnings Season buying propelled non-Fang equity indices higher. USHs were +5/32 at the NYSE close   Negative aspects of previous session Fangs and Mag 7 stocks declined sharply, again.   Ambiguous aspects of previous session Will a Fang rally appear soon?   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5840.08 Previous session S&P 500 Index High/Low: 5871.92; 5805.42   AP: Biden administration will move to lift Cuba’s state sponsor of terror designation in final days of term (The Big Guy and/or his handlers continue their vindictive, petty ways.)   Elon Musk sued by SEC for not disclosing stake in Twitter in a timely manner https://trib.al/vXsohQ7   @RNCResearch: Biden has no idea where he is or what he’s doing as he signs a new national monument into law: “I gotta fill this in?” Fewer than six days until this disgraceful chapter in American history mercifully comes to an end. https://t.co/TxTXDL1Q2p   Today – The Expiry Week manipulation and earnings season buying lifted stocks on Monday and Tuesday.  But Fangs declined sharply on both days.  Normally Weird Wednesday marks the peak intensity of the Expiry Week manipulation.  So, the usual suspects will play for a rally.  If Dec CPI is troubling, the negative reaction could be transitory.    Big Banks began to report results today; expected earnings: BLK 11.48, BK 1.58, WFC 1.35, JPM 4.10, GD 8.21, C 1.22   The big question: When will Fangs join the Expiry Week manipulation?  Normally Fangs/Mag 7 are the favored vehicles for pattern rallies.   ESHs are +5.00; NQHs +40.05; and USHs +4/32 at 20:05 ET.     Expected Economic Data: Dec CPI 0.4% m/m & 2.9% y/y, Core CPI 0.3$ m/m & 3.3% y/y; Dec Empire Mfg. 3.0; Fed Beige Book 14:00 ET; Richmond Fed Pres Barkin 9:20 ET, Minn Fed Pres Kashkari 10:00 ET, NY Fed Pres Williams 11:00 ET, Chicago Fed Pres Goolsbee 12:00 ET   S&P Index 50-day MA: 5953; 100-day MA: 5825; 150-day MA: 5708; 200-day MA: 5579 DJIA 50-day MA: 43,452; 100-day MA: 42,673; 150-day MA: 41,681; 200-day MA: 40,957 (Green is positive slope; Red is negative slope)   S&P 500 Index (5842.91 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5367.17 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 5973.06 triggers a buy signal Hourly: Trender is negative; MACD is positive – a close above 5875.15 triggers a buy signal   Trump announces External Revenue Service to tax foreign revenues “We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share,” he declared. https://justthenews.com/government/federal-agencies/trump-announces-external-revenue-service-tax-foreign-revenues   Michelle Obama will not attend Trump’s second inauguration. Perhaps the rumors about Michelle and Barack being on the outs has substance.   Harris declines to invite Vance for courtesy visit to vice president’s residence before inauguration https://www.cbsnews.com/news/harris-jd-vance-vice-presidents-residence/?s=02   @Babygravy9: That Vivek Ramaswamy has basically disappeared–hasn’t been heard from or Tweeted for a about 10 days–is probably the clearest confirmation that Trump didn’t approve of his intervention in the H-1B debate, especially his opinions about the defects of ordinary Americans.   First hearing in ‘Trump-proof’ California special session canceled as chairman’s district hit by wildfires https://t.co/GCtsLl7uku   @alx: Kamala the Wise gives her advice to those impacted by the wildfires: “It’s critically important that, to the extent you can find anything that gives you an ability to be patient in this extremely dangerous and unprecedented crisis, that you do.”  https://x.com/alx/status/1878984760355426491   David Weiss blasts Joe Biden in final report about son Hunter “The Constitution provides the President with broad authority to grant reprieves and pardons for offenses against the United States, but nowhere does the Constitution give the President the authority to rewrite history.”  https://justthenews.com/government/courts-law/david-weiss-blasts-joe-biden-final-report-hunter-biden   @charliekirk11: PETE HEGSETH (at Def Sec confirm hearing): “We won WW2 with 7 four-star generals. Today we have 44 four-star generals… we don’t need more bureaucracy at the top, we need more war fighters empowered at the bottom.”  https://x.com/charliekirk11/status/1879220429472292905   Dem senator’s ‘lies and stupidity’ at Hegseth hearing roasted on social media: ‘Clown show’ ‘This line of questioning is unbecoming of her position as a United States Senator,’ a critic says of Hawaii Democrat Mazie Hirono – During the hearing, Hirono claimed that President-elect Donald Trump ordered guards to “shoot protesters in the legs” during a protest at Layfayette Square in Washington, D.C., in 2020 and asked if Hegseth would carry out such an order… https://www.foxnews.com/politics/dem-senators-lies-stupidity-hegseth-hearing-roasted-social-media-clown-show

—

SWAMP STORIES FOR YOU TONIGHT

Washington Dems Propose Bill Banning Child Care Workers From Reporting Illegal Immigrants To Feds

Tuesday, Jan 14, 2025 – 09:20 PM

Despite Trump’s win in November and his inauguration in less than a week, Democrats aren’t letting go of the illegal immigration rope. 

In fact, now, Washington Democrats have proposed a bill barring child care employers, including families, from reporting criminal illegal immigrants to federal authorities, even if suspected of crimes against children, according to KTTH.

House Bill 1128 creates the Washington State Child Care Workforce Standards Board, giving Democrats greater control over the child care industry. It sets new rules for wages, benefits, and working conditions, along with additional “rights” for child care workers.

Controversially, it also bans employers from reporting or threatening to report a child care worker’s immigration status for asserting rights under the act, raising constitutional concerns.

The KTTH report says that House Bill 1128 defines any employer of child care workers, including families, as a “child care employer,” bringing private hiring arrangements under its purview. Democrats argue the bill addresses low pay and high turnover in the child care industry, aiming to improve quality and accessibility by enhancing worker protections and stability.

However, critics contend it represents a partisan takeover of the child care industry and shields illegal immigrants, even those who pose risks.

A contentious provision in the bill bars employers from reporting a child care worker’s immigration status if the worker is exercising a right created under the legislation. This could lead to retaliation claims, even long after an incident.

If a child care worker is found to be in the country illegally while invoking these rights, employers would be prohibited from reporting them to federal authorities. Critics warn this loophole could enable neglectful or abusive workers to avoid accountability, endangering children and allowing such individuals to find employment elsewhere.

The bill also raises constitutional concerns by conflicting with federal law. The Immigration Reform and Control Act requires employers to verify work authorization and prohibits hiring unauthorized workers.

A state law preventing employers from reporting illegal workers interferes with federal obligations, potentially violating the Supremacy Clause, which ensures federal law takes precedence. Critics argue this interference undermines immigration enforcement and federal authority.

Despite constitutional and safety concerns, proponents remain focused on worker protections, while opponents highlight risks to children and families. As debates continue, the bill underscores broader tensions between state policies and federal immigration law, with far-reaching implications for child care and beyond.

END

ANOTHER SHAM!!

Biden SEC Sues Musk Over Twitter Purchase In 11th Hour “Sham”

Wednesday, Jan 15, 2025 – 09:05 AM

The US Securities and Exchange Commission (SEC) has sued Elon Musk in connection to his $44 billion purchase of Twitter (now X) in October 2022. 

In a Tuesday press release, the agency claims that by delaying the filing of a beneficial ownership report by 11 days, Musk saved $150 million, or 0.34% on several subsequent tranches of stock he bought before filing the disclosure on April 4, 2022.

According to the agency, Twitter shares surged by 27% after Musk filed the ownership report – by which time he already owned 9% of the company’s shares.

“Investors who sold Twitter common stock during this period did so at artificially low prices and thus suffered substantial economic harm,” reads the complaint.

The agency wants Musk to disgorge any profits he incurred due to the late filing, along with pay a civil fine.

In response, Musk’s attorney, Alex Spiro, told the Epoch Times that Musk did nothing wrong – calling the SEC’s lawsuit a “sham.”

“Today’s action is an admission by the SEC that they cannot bring an actual case,” he said, adding that Musk “has done nothing wrong and everyone sees this sham for what it is.”

As the Epoch Times notes further, Spiro accused the SEC of running a “multi-year campaign of harassment” against Musk and insisted the agency was blowing the alleged late disclosure filing out of proportion, adding that this type of infraction carries a nominal penalty.

The lawsuit is the latest chapter in Musk’s contentious relationship with the SEC. In 2018, the agency sued him for posting on social media that he had “funding secured” to take Tesla private at $420 per share, a claim that was later revealed to be exaggerated. The SEC contended that Musk’s “misleading” post caused Tesla’s stock price to jump by over 6 percent and led to “significant market disruption.” That case was settled with Musk agreeing to pay a $20 million fine and step down as Tesla’s chairman for three years. The settlement did not require Musk to admit to any wrongdoing.

Musk’s “funding secured” post also sparked another lawsuit by a group of Tesla investors, who claimed that it was materially misleading and led them to suffer as much as $12 billion in financial losses. During a three-week trial in the case, Musk’s attorneys argued that he believed his statements about taking Tesla private were truthful, citing discussions with Saudi Arabia’s Public Investment Fund (PIF) as evidence of potential funding. Musk testified that PIF representatives showed strong interest in the deal, which led him to claim that the funding was secured.

“I had no ill motive,” Musk said in court. “My intent was to do the right thing for all shareholders.”

The jury sided with Musk in the case. Jurors delivered a unanimous verdict in February 2023, finding that Musk and Tesla were not liable for misleading investors with the posts. The investors appealed the decision, arguing that the judge gave erroneous instructions to the jurors. The appellate court upheld the jury’s decision, clearing Musk of securities fraud.

The SEC’s current chair, Gary Gensler, plans to step down from his post on Jan. 20, the day President-elect Donald Trump will be inaugurated for a second term.

Meanwhile, SEC Chief Accountant Paul Munter will retire from the agency effective Jan. 25 – making it unclear if the agency will even proceed with its filing against Musk.

end

House Report Finds Billions Wasted During Federal Telework Program As Unions ‘Lock In’ WFH

Wednesday, Jan 15, 2025 – 11:45 AM

A report released by the House Oversight and Accountability Committee on Wednesday paints a damning picture of federal telework policies, accusing the Biden administration of prioritizing union demands over taxpayer interests and wasting billions of dollars on underutilized office space.

The 30-page report, released ahead of a hearing led by Committee Chairman Rep. James Comer (R-KY), slams the continuation of widespread work-from-home arrangements that surged during the COVID-19 pandemic. The findings indicate that many federal employees remain remote or telework regularly, leaving federal office buildings largely empty.

“The Biden-Harris administration has ceded too much authority to the federal union bosses, allowing their preference to work from home to take precedence over fulfilling agencies’ missions and serving the American people,” the report states.

Telework Trends Since the Pandemic

The committee’s analysis revealed that of the 2.28 million federal civilian employees, roughly 228,000 are never required to report to the office. The remaining 1.1 million employees eligible for telework spend an average of only three days per week in the office.

According to the report, teleworking feds “must report to the office on occasion,” whereas “remote employees never need to show up to work,” Just the News reports.

Federal agencies such as the Department of Health and Human Services (HHS) and the General Services Administration (GSA) have seen dramatic increases in remote work since 2019. According to the report:

• HHS’s remote workforce grew from 2% in 2019 to 29% in 2024.
• The GSA saw its remote workforce jump from 6% to 50%.
• The Department of Education went from 2% to 55%.

The report also highlights an alarming trend of unused office space. A Government Accountability Office (GAO) study from July 2023 “found that 17 of the 24 federal agencies used on average an estimated 25 percent or less of the capacity of their headquarter buildings,” with some agencies reporting occupancy rates as low as 9%. Despite this, the federal government spends approximately $7 billion annually to lease and maintain office spaces.

The Cost of an Empty Bureaucracy

During the hearing, Comer criticized federal agencies for spending $3.3 billion on furniture for offices that remain mostly empty. He singled out GSA Administrator Robin Carnahan, noting that she had worked from the agency’s Washington, D.C. headquarters for only 64 days over a 12-month period, opting instead to telework from Missouri.

The report also accuses the Biden administration of locking in long-term collective bargaining agreements that cement telework arrangements for years to come. In November, Social Security Administration (SSA) Commissioner Martin O’Malley approved a deal ensuring telework eligibility for 42,000 SSA employees through 2029, shortly before stepping down to pursue a role as Democratic National Committee chair.

“The outgoing Biden-Harris Administration entered into long-term [collective bargaining agreements] with federal employee unions that limit management authority through unprecedented concessions, including guaranteeing telework for federal bureaucrats,” reads the report.

Telework vs. Public Service

The American Federation of Government Employees (AFGE), the largest federal employee union, issued a sharp rebuke of the report ahead of the committee’s hearing:

“As a preliminary matter, AFGE is compelled to note that the title of today’s hearing unfortunately distorts how telework fits into larger work practices and protocols at federal agencies in order to unjustly criticize federal employees. Hardworking, dedicated federal employees should not be derided as ‘stay-at-home workers.’ Our members perform vital roles in public safety, law enforcement, and health care – including providing care for active-duty military and millions of veterans. The majority of our members were ineligible for telework even when the pandemic was at its worst and no vaccines or treatments were available. Many members died of COVID during this period, likely contracted while performing their work for the American people. For many thousands of our members, it is thus bitterly ironic to now castigate the ‘stay-at-home federal workforce.”

The union further noted that many telework-eligible roles have continued to meet or exceed performance goals, arguing that flexible work arrangements can help recruit and retain top talent.

Trump Administration’s Next Steps

President-elect Donald Trump has pledged to bring federal employees back to their offices and overhaul telework policies. The House Oversight Committee report outlines nine recommendations to rein in remote work, including (via Just the News):

• Base telework and remote work policies on achievement of mission outcomes, not employee preferences or union demands.
• Establish automated systems for tracking the use of telework and remote work, and create clear, measurable metrics to evaluate its costs and benefits.
• Impose more frequent and timely reporting requirements on agency-level telework, to better inform Executive Branch leaders, Congress and the public.
• Use the White House and central management agencies to implement an enterprise-wide approach to telework and remote work that prioritizes the public interest. Do not permit a telework bidding war among agencies looking to attract federal workers that transfer between them based on which will let them stay home the most.
• Align the federal property footprint with the government’s office space needs. Dispose of unneeded property and terminate unnecessary leases, while optimizing use of the space that remains. 
• Introduce and enact a new version of the SHOW Up Act, restoring agency telework to no more than pre- pandemic levels. Only permit higher levels at agencies that make a convincing, measurable case for doing so.
• Consider legislation disallowing collective bargaining over federal employee telework.
• Consider legislation that would open to renegotiation at the start of each new Presidential term all existing collective bargaining agreements with federal employees.
• Consider legislation to pay all remote federal employees at the rest of United States’ locality pay rate, to encourage a broader geographic dispersion of the federal workforce, and to reduce cost to taxpayers.

Comer emphasized that these reforms are crucial to restoring public trust in government.

“The lights may be on in federal buildings, but too many federal bureaucrats continue to work from home,” Comer said. “

“President Trump was elected in a landslide to bring accountability to Washington,” Comer continued.

“Our report not only identifies the many problems with massive federal telework but also proposes solutions to get federal employees back to their offices, dispose of unused and vacant federal property, and prioritize the needs of the American people over the wants of federal bureaucrats. We look forward to working with President Trump and his administration to ensure the federal bureaucracy is fully accountable to the American people.”

END

Elimination of those foul balls?

House Passes Bill Banning Men From Women’s Sports

by Tyler Durden

Wednesday, Jan 15, 2025 – 03:45 PM

Authored by Stacy Robinson via The Epoch Times (emphasis ours),

WASHINGTON—The House passed the Protection of Women and Girls in Sports Act on Jan. 14, with a vote of 218-206. The legislation excludes males from participating in women’s sports sponsored by organizations that receive federal funding.

The text stipulates that “sex shall be recognized based solely on a person’s reproductive biology and genetics at birth.”

“This is a great day for women in America,” Speaker Mike Johnson (R-La.) said at a press conference following the bill’s passage.

The legislation, introduced by Rep. Greg Steube (R-Fla.), is also likely to pass in the Senate, where Republicans hold a 53-47 majority.

Proponents of the legislation pointed out male advantages in sports, such as increased muscle and lung capacity. They raised the risk of injury in high-impact sports as well as concerns about young women being forced to share locker room space with biological males.

“It’s dangerous, it’s unfair, it’s rejection of reality, and it is just plain wrong,” Johnson said.

Democrat opposition revolved around concerns that children might be physically inspected to determine their biological sex.

“There is nothing in the bill that talks about parental consent of those inspections … that will be abused, and that is overwhelmingly the position of House Democrats, and why we have strong reservations about the legislation,” Rep. Pete Aguilar (D-Calif.) told reporters at a press conference before the vote.

This claim was repeated during a debate on the House floor, where Democrats refused to refer to the legislation by name, instead calling it “The GOP Child Predator Empowerment Act.”

Rep. Tim Walberg (R-Mich.) pointed out that there is no such requirement in the legislation.

“They simply have to go to the birth certificate,“ he said. ”That will give the answer.”

The Leadership Conference on Civil and Human Rights condemned the legislation. In an open letter to Congress, it called for the “full inclusion, protection, and celebration of transgender, nonbinary, and intersex youth.”

Hundreds of progressive political organizations, including the American Civil Liberties Union, the National Association for the Advancement of Colored People, and American Atheists, cosigned that letter.

The bill was passed by the House less than a week after a federal judge blocked an attempt by the Biden administration to expand Title IX rules to cover discrimination based on gender identity or sexual preference.

Passed in 1972, Title IX was originally crafted to prevent sex-based discrimination.

The proposed changes were meant to be implemented on Aug. 1, 2024, but were met with a flurry of lawsuits by the attorneys general of dozens of states, including  Kentucky, Indiana, Ohio, Tennessee, Virginia, and West Virginia.

U.S. District Judge Danny C. Reeves struck down the change, noting that it would prohibit schools from separating male and female students in bathrooms and locker room spaces.

end

GREG HUNTER INTERVIEWING MARK TAYLOR

usawatchdog.com/america-under-satanic-attack-mark-taylor/

America Under Satanic Attack – Mark Taylor

By Greg Hunter On January 14, 2025 In Political Analysis15 Comments

By Greg Hunter’s USAWatchdog.com

Retired firefighter, Lieutenant Mark Taylor, author of the popular book “The Trump Prophecies,” predicted Donald Trump would become President years before the 2016 Election.  He also predicted Trump would be a two-term President.  Taylor made many other predictions and prophecies and is now out with a dire warning for America.  Taylor says, “The LA County Fire Department and LA City Fire Department used to be premier fire departments in the country.  They were looked up to.  A lot of these guys were state-of-the-art, but the problem is you had the transgender, DEI programs that are decimating our services.  This is done by design . . . and these guys are up against an agenda to purposely destroy the services such as military, law enforcement and fire services from within.  Who pays for this?  Number one are the guys who truly have their hearts in the job and want to serve and protect people and have taken an oath to protect people.  Look, we protect the homeland.  That’s what these services are designed to do. . . . This is why they are decimating our services right now because they don’t want the homeland protected.  This is a satanic agenda, and they are purposely doing what they are doing. . . .the LA mayor, in a leaked memo a week before the fires started, said she wanted a $49 million budget cut and to close 16 fire stations.  This is by design.  This is Maui 2.0.”

Lt. Taylor, who spent 20 years as a firefighter in Orlando, Florida, says professional firefighters know how to fight fires.  The mistakes are being done because of an evil agenda.  Taylor says, “This is beyond incompetence.  This is following unlawful orders.  This is the DEI mindset.”

Taylor says with the passing of President Jimmy Carter, that a “judgment phase” is starting.  Taylor explains, “We are going from the old regime or the old world order, and now we are entering into the justice phase.  This is where the shaking is coming in.  I said to you three years ago on USAWatchdog.com that President Obama would be spitting and sputtering because the shaking is going to be so bad.  With Carter’s passing, we are entering into the justice and judgment phase.”

What does the justice and judgment phase look like?  Taylor says, “I was talking about this as far back as 2015.  I said there would be mass arrests that would make Nuremberg look like a cake walk. . . .  I warned that this would take down parts of government.  We are going to see that with DOGE. . . . God has mandated President Trump to implement judgment on the wicked. . . . What I tell people is if you don’t have a stomach for justice, you better get one quick because justice can get ugly.  When they start to round up these illegals and they declare war on the cartels, we’re going to have some chaos in the streets. . . . This is going to get dangerous in a lot of areas.”

Taylor says, “Trump is surrounded by treasonous spiritual advisors that are putting poison in his ear.  Taylor says, “America should pray that Trump has discernment and also to pray President Trump’s eyes are open to people leading people astray with false doctrine.”

Taylor warns that Trump needs to get out in front of the CV19 bioweapon vax disaster that is killing and disabling people by the millions.  The problem is not going away, and in time, people will turn on Trump if he does not address this huge problem.  (At least 200 million Americans have taken multiple CV19 shots.)  People need to be treated for CV19 bioweapon vaccine injuries now.

In closing. Taylor says, “God is not happy with the CV19 vaccines.”

There is much more in the 64-minuite interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with retired firefighter Lt. Mark Taylor, author of the popular book “The Trump Prophecies,” for 1.14.25.

(To Donate to USAWatchdog.com Click Here)

After the Interview:

All of Mark Taylor’s prophetic words are free at SORDRescue.com.

You can also get a copy of the updated and expanded version of “The Trump Prophecies,” by clicking here.

You can follow Mark Taylor on social media Telegram, click here.

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