GOLD CLOSED UP $21.20 TO $2915.40

SILVER CLOSED UP $0.60 CENTS TO $32.70

 GOLD ACCESS CLOSED 2916.95

Silver ACCESS CLOSED: $32.93

Bitcoin morning price:$81,739 UP 2432 DOLLARS.

Bitcoin: afternoon price: $83,205 up 3898 DOLLARS

Platinum price closing UP $13.45 TO $977.40

Palladium price; DOWN $3.05 TO $943.75

END

*CANADIAN GOLD: $4203.60 UP 42.10 CDN dollars per oz( * NEW ALL TIME HIGH 4208.15 CDN DOLLARS PER OZ//FEB 24 2025)

*BRITISH GOLD: 2252.41 UP 10.91 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING//2,339.25 BRITISH POUNDS/OZ) FEB 10/2025

*EURO GOLD: 2,671.96 UP 10.20 Euros per oz //* (ALL TIME CLOSING HIGH: 2,819,78UROS PER OZ/FEB 24 //2025)

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END

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: MARCH 2025 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,891.000000000 USD
INTENT DATE: 03/10/2025 DELIVERY DATE: 03/12/2025
FIRM ORG FIRM NAME ISSUED STOPPED

---

118 H MACQUARIE FUT 25
323 C HSBC 3
363 H WELLS FARGO SEC 80
523 C INTERACTIVE BRO 2
624 H BOFA SECURITIES 16
661 C JP MORGAN 7
685 C RJ OBRIEN 1
686 C STONEX FINANCIA 15 27
880 H CITIGROUP 94
905 C ADM 2

---

TOTAL: 136 136

JPMORGAN stopped 7/136 contracts

GOLD: NUMBER OF NOTICES FILED FOR MARCH/2024. CONTRACT: 136 NOTICES FOR 13,600 OZ  0.4230 TONNES

total notices so far: 13,707 contracts for 1,370,700 Oz (42.634 tonnes)

FOR MARCH

XXXXXXXXXXXXXXXXXX

SILVER NOTICES: 271 NOTICE(S) FILED FOR 1.355 MILLION OZ/

total number of notices filed so far this month : 13,268 for 66.340 million oz

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END

GLD/

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

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

WITH GOLD UP $21.20 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD:

HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.45 TONNES

INVENTORY RESTS AT 891.30 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $.60 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.816 MILLION OZ OUT OF THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 436.410 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A HUMONGOUS SIZED 1507 CONTRACTS TO 152,782 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUMONGOUS SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR STRONG LOSS OF $0,25 IN SILVER PRICING AT THE COMEX WITH RESPECT TO MONDAY’S TRADING. WE HAD A MEGA HUMONGOUS GAIN OF 2559 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS IN PRICE//MONDAY’S TRADING.. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS ON MONDAY COMEX TRADING / AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST 4 WEEKS (WHERE RAIDS ARE CALLED UPON AGAIN AND AGAIN TRYING TO STOP THE RISE IN SILVER’S PRICE AND TO QUELL ADDITIONAL DERIVATIVE LOSSES TO OUR BANKERS’ MASSIVE TOTALS). THEY SUCCEEDED ON MONDAY WITH SILVER’S LOSS IN PRICE.  WE HAD HUGE T.A.S. LIQUIDATION MONDAY. BUT THIS WAS COUPLED WITH ANOTHER MEGA HUGE T.A.S. ISSUANCE OF 1052 CONTRACTS ISSUED BY THE CME AND THAT SIGNALS DEEP CODE RED THAT THE CROOKS ARE DESPERATE TO STOP SILVER BREAKING OVER THE 34.00 DOLLAR MARK. THUS OUR RAIDS ON OUR PRECIOUS METALS WILL COMMENCE AGAIN! WE HAVE A HUGE CONTANGO IN SILVER SPOT VS FRONT FEB OF AROUND 95 CENTS AND A LEASE RATE OF 6%. WE HAD A HUGE 1052 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR HUGE 853 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN TUESDAY.S TRADING/ AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE GAINED A MEGA HUMONGOUS 2559 CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS IN PRICE. WE HAD CONSIDERABLE TAS LIQUIDATION THROUGHOUT MONDAY’S COMEX TRADING SESSION WHICH ACCOUNTS FOR A HUGE PORTION IN THE GAIN OF OI ON OUR TWO EXCHANGES.

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 INITIATE A RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN WITH THIS WEEK’S TRADING ON SILVER AND NOW TODAY TRYING TO KEEP THE SILVER PRICE BELOW $32.50.

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 MONDAY NIGHT/TUESDAY MORNING: A HUGE 853 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

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY  $0.25 BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A MEGA HUMONGOUS GAIN IN OUR TWO EXCHANGES OF 2559 CONTRACTS WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS TRYING TO CONTAIN SILVER’S PRICE RISE AND THAT ACCOUNTS OF LOTS OF OUR OPEN INTEREST RISE. HOWEVER THE CME NOTIFIED US THAT FOR THE FIRST TIME IN MARCH, WE HAVE BEEN ISSUED 70 CONTRACTS OF EXCHANGE FOR RISK FOR 350,000 OZ. THIS TOTAL WILL BE ADDED TO OUR REGULAR DELIVERY TOTALS FOR MARCH.

WE HAD A 1052 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 78.753 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 0.560 MILLION OZ EXCHANGE FOR PHYSICAL TRANSFER TO LONDON TO WHICH WE ADD .350 EXCHANGE FOR RISK

INITIAL STANDING FOR MARCH ADVANCES TO 77.900 MILLION OZ (DATA IS CME CORRECTED FROM YESTERDAY)

WE HAD:

/ HUMONGOUS COMEX OI GAIN+// A HUMONGOUS SIZED  EFP ISSUANCE/ VI)   HUMONGOUS SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 853 CONTRACTS)/A 70 CONTRACT EX. FOR RISK FOR 350,000 OZ

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 390 CONTRACTS.

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

TOTAL CONTRACTS for 7 DAYS, total 4473 contracts:   OR 22.365 MILLION OZ  (639 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  22.365 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: 67.230 MILLION OZ///(THIS MONTH’S ISSUANCE OF EXCHANGE FOR PHYSICAL WILL BE SMALL)

FEB. 58.260 MILLION OZ//EXCHANGE FOR PHYSICAL ISSUANCE/FINAL

MARCH: 22.365 MILLION OZ///

XXXXXXXXXXXXXXXXXXXXXXXXXXXX

RESULT: WE HAD A HUMONGOUS SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1507 CONTRACTS DESPITE OUR LOSS IN PRICE OF 25 CENTS IN SILVER PRICING AT THE COMEX// MONDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUMONGOUS 1052 CONTRACT EFP ISSUANCE  CONTRACTS: 1052 ISSUED FOR MAY 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 MARCH OF  78.455 MILLION  OZ ON FIRST DAY NOTICE, FOLLOWED BY TODAY’S 0.560 MILLION OZ QUEUE JUMP//NEW STANDING ADVANCES TO 77.90 MILLION OZ + .350 EX. FOR RISK//NEW TOTAL 78.25 MILLION OZ.

WE HAVE 1). A MEGA HUMONGOUS SIZED GAIN OF 2559 OI CONTRACTS ON THE TWO EXCHANGES DESPITE OUR LOSS IN  PRICE// 2.THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS 853 CONTRACTS TRYING DESPERATELY TO CONTAIN SILVER’S PRICE RISE,//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX SESSION. HOWEVER THEY STILL NEED THESE ISSUANCES FOR REPLENISHMENT FOR FUTURE TRADING //3. ZERO NET LONG SPECULATORS WERE BURNED ON MONDAY WITH OUR LOSS 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 MONDAY NIGHT   (853 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND MOST LIKELY TODAY.

WE HAD  271 NOTICE(S) FILED TODAY FOR 1.355 million OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 5373 OI CONTRACTS  TO 505,149 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 STRONG SIZED 356 CONTRACTS//

WE HAD A STRONG SIZED INCREASE  IN COMEX OI (5373 CONTRACTS) OCCURRED DESPITE OUR LOSS OF $12.45 IN PRICE MONDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUMONGOUS INITIAL STANDING IN GOLD TONNAGE FOR MARCH AT 31.757 TONNES FOLLOWED BY TODAY’S 8,000 OZ QUEUE JUMP (0.2488 TONNES)//NEW STANDING ADVANCES TO 42.7838 TONNES

(DATA CME CORRECTED)

/NEW STANDING FOR MARCH; 42.846 TONNES

/ ALL OF THIS HAPPENED WITH OUR   $12.45 LOSS IN PRICE  WITH RESPECT TO MONDAY’S COMEX ///. WE HAD A STRONG SIZED GAIN OF 6193 OI CONTRACTS (19.26 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! THE RESULT: A MASSIVE AMOUNT OF GOLD STANDING FOR DELIVERY FOR THE FRONT MARCH CONTRACT MONTH. CENTRAL BANKERS ARE NOW WAITING PATIENTLY FOR THEIR DELIVERY OF GOLD VIA SLOW MOVING SHIPS.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 820 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 505,149

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6193 CONTRACTS  WITH 5373 CONTRACTS INCREASED AT THE COMEX// AND A SMALL SIZED 820 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 6173 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA MEGA HUGE SIZED AND CRIMINAL 31,043 CONTRACTS ISSUED.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (820 CONTRACTS) ACCOMPANYING THE STRONG SIZED INCREASE IN COMEX OI OF 5373 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 6193 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 MARCH 31.757 TONNES FOLLOWED BY TODAY’S HUGE 0.2488 TONNES QUEUE JUMP.

//NEW STANDING ADVANCES TO 42.7838 TONNES 

NEW STANDING FOR MARCH ADVANCES TO:

42.7838 TONNES

//NEW STANDING MARCH: 42.7838 TONNES

.

 / 3) HUGE T.A.S. LIQUIDATION TRYING TO LOWER GOLD’S PRICE FRIDAY WITH ZERO SUCCESS IN REMOVING ANY NET SPECULATOR LONGS, AS WE HAD 1)  $12.45 PRICE LOSS AND WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED AS WE HAD A STRONG GAIN OF 6193 CONTRACTS ON OUR TWO EXCHANGES ) ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED MONDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL AND THUS OUR HUGE TONNAGE STANDING FOR GOLD IN MARCH

  4) STRONG SIZED COMEX OPEN INTEREST INCREASE 5)  SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///MEGA MEGA HUGE T.A.S.  ISSUANCE: 31,043 T.A.S.CONTRACTS//

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2025 INCLUDING TODAY

MAR

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

TOTAL EFP CONTRACTS ISSUED: 13,639 CONTRACTS OF 1,363,900 OZ OR 42.423 TONNES IN 7 TRADING DAY(S) AND THUS AVERAGING: 1948 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 7 TRADING DAY(S) IN  TONNES  42.423 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  42.423 DIVIDED BY 3550 x 100% TONNES = 1.19% 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

2024 AND 2025:

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: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)

FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)

MARCH 42.423 TONNES

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW  ACTIVE FRONT MONTH OF 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 MEGA HUMONGOUS SIZED 1507 CONTRACTS OI  TO 152,782 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  7 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 1052 CONTRACTS

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

MAY 1052 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1052 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 1507 CONTRACTS AND ADD TO THE 1052 E.FP. ISSUED

WE OBTAIN A MEGA HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2559  CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 12.795 MILLION OZ OCCURRED WITH OUR $0.25 LOSS  IN PRICE  

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS  TUESDAY MORNING//MONDAY  NIGHT

SHANGHAI CLOSED UP 13.67 PTS OR 0.41%

//Hang Seng CLOSED DOWN 135.01 PTS OR 0.45%

// Nikkei CLOSED DOWN 235.16 OR 0.64%//Australia’s all ordinaries CLOSED DOWN 0.91%

//Chinese yuan (ONSHORE) CLOSED UP TO 7.2348 CHINESE YUAN OFFSHORE CLOSED UP TO 7.2361/ Oil UP TO 66.86 dollars per barrel for WTI and BRENT UP TO 70.14 Stocks in Europe OPENED ALL MIXED

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

STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

END

END

ASIA TRADING MONDAY MORNING/SUNDAY  NIGHT

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 5373 CONTRACTS TO 505,149 DESPITE OUR LOSS IN PRICE OF $12.45 WITH RESPECT TO MONDAY’S TRADING/. WE LOST ZERO NET LONGS WITH THAT PRICE GAIN FOR GOLD. BUT AS YOU WILL SEE BELOW, OUR LOSS IN PRICE ALSO HAD A SMALL NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (820 ).

THE CME ANNOUNCED MONDAY NIGHT, ZERO EXCHANGE FOR RISK CONTRACTS FOR NIL OZ OR 0 TONNES.

IN FEBRUARY: WE HAD FIVE EXCHANGE FOR RISKS IN GOLD, TOTALLING 18.4527 TONNES!. THE RECIPIENT OF THESE EXCHANGE FOR RISK CONTRACTS IS THE BANK OF ENGLAND WHO DESPERATELY WANT THEIR LEASED GOLD BACK. THUS WE HAVE TWO SEPARATE ENTITIES (CENTRAL BANKS) DEMANDING THEIR GOLD BACK:

1. THE BANK OF ENGLAND
2. THE FEDERAL RESERVE BANK OF NEW YORK

THE COUNTERPARTY TO THE BANK OF ENGLAND’S EXCHANGE FOR RISK ARE BULLION BANKS THAT CANNOT VERIFY THAT THEIR GOLD IS UNENCUMBERED AND THUS THE BUYER, THE CENTRAL BANK OF ENGLAND, ASSUMES THE RISK OF THAT DELIVERY.

THUS IN TOTAL WE HAD A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 6193 CONTRACTS DESPITE OUR LOSS IN PRICE. OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON FRIDAY NIGHT AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED RAID AS THEY TRIED TO ABSORB 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. LONDON ANNOUNCED LATE (JAN 30) THAT THEY WERE OUT OF GOLD. WRONGLY IT WAS ATTRIBUTED TO THEIR SHIPPING PHYSICAL GOLD TO COMEX FOR STORAGE DUE TO TRUMP’S INITIATION OF TARIFFS. THE TRUTH OF THE MATTER IS THAT THIS GOLD LEFT LONDON TO CENTRAL BANKS, AND COMEX BANKS HAVE BEEN PAPERING THEIR LOSSES (DERIVATIVE) WITH KILOBAR ENTRIES. DELIVERY OF GOLD CONTRACTS ARE NOW TAKING SEVERAL WEEKS. NO DEFAULT HAS BEEN INITIATED AS DEALERS ARE AFRAID OF LOSS OF THEIR JOBS. SO THIS FRAUD CONTINUES. THE LEASE RATES IN LONDON HAVE NOW CLIMBED TO 10% AS GOLD IN LONDON IS NOW EXTREMELY SCARCE. WE CAN NOW SAFELY SAY THAT THERE IS A RUN ON A BANK AND THAT BANK IS THE BANK OF ENGLAND!!!

THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THIS MONTH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY TODAY INCLUDING WITH OUR STRONG T.A.S. ISSUANCES AND HUGE T.A.S. LIQUIDATION// MONDAY // MONDAY NIGHT THEY ISSUED ANOTHER MEGA MONSTER 31,043 CONTRACT ANNOUNCEMENT. THE T.A.S. LIQUIDATION IS WHY WE ARE HAVING A LOWER COMEX OPEN INTEREST GAINS BUT THIS IS COUPLED WITH HUGE AMOUNTS OF GOLD STANDING FOR DELIVERY TO CONFUSE THE ISSUE!!!!! AND THIS WAS SURELY ON DISPLAY MONDAY. YOU WILL PROBABLY SEE 3 MORE MONSTER ISSUANCES OF THESE T.A.S CONTRACTS AS THE BANKERS CALLED FOR RAIDS THIS COMING WEEK ON OUR PRECIOUS METALS.

THE FED IS THE OTHER MAJOR SHORT OF AROUND 22+ 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, , 203 , ,205  , 207 209 AND 211 212 AND TODAY 213 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 CAME INTO OFFICE MONDAY NOON JAN 20. TRUMP WILL PROBABLY BE FURIOUS WITH THE FED IF IT FINDS 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 + ???? BASIS. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD IS SUPPOSED 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 OUR TWO SPREADERS: 1) THE MONTH END SPREADERS AND 2. T.A.S DURING THESE PAST FEW WEEKS IS SURELY DISTORTING COMEX OPEN INTEREST BUT THAT DOES NOT STOP LONDON’S ACCUMULATION OF PHYSICAL! YOU CAN ALSO VISUALIZE THAT PERFECTLY WITH THE HUGE AMOUNTS OF QUEUE JUMPING ORCHESTRATED BY CENTRAL BANKERS BOLTING AHEAD OF ORDINARY LONGS AS THEIR NEED FOR PHYSICAL IS GREAT AS THEY SCOUR THE PLANET LOOKING FOR GOLD. 

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS A SMALL SIZED 820 EFP CONTRACTS WERE ISSUED: :  /APRIL  820 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 820 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 GENERALLY DELIVERED COMES FROM LONDON BUT THEY ARE OUT!! THUS COMEX BECOMES THE MAJOR SOURCE FOR OUR CENTRAL BANKERS.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 6549 CONTRACTS IN THAT 820 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG GAIN OF 5373 COMEX  CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $12.45 FOR MONDAY/ 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 MONDAY NIGHT/TUESDAY MORNING WAS A MEGA MONSTER SIZED SIZED 31,043 CONTRACTS, AS AGAIN, ALL OF THE TRADING AND SUPPLY OF CONTRACTS HAVE BEEN ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK). AS PER THEIR MEGA 5 DAY ISSUANCE OF T.A.S OVER 4 WEEKS AGO AND AGAIN THIS WEEK,, THE FED HAS BEEN 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 LITTLE AS FEW LEFT OUR GOLD METAL ARENA. DURING OPTIONS EXPIRY WEEK, A HUGE RAID WAS ORDERED BY THE FED WITH END OF THE MONTH TRADING ( FEB 25 THROUGH FEB 28) AS THE GOLD PRICE GOT HAMMERED A BIT WITH ONLY THE PAPER PRICE OF GOLD LOWERING! . AND NOW WE HAVE ANOTHER 5 DAY MEGA ISSUANCE AND CORRESPONDING MEGA RAIDS WILL COMMENCE FORTHWITH.

THE RAIDS ON OPTIONS EXPIRY DOES TWO IMPORTANT THINGS FOR OUR CROOKS:

1. STALLS THE ADVANCE IN PRICE
2. LOWERS THEIR ADVANCING DERIVATIVE LOSSES.

MECHANICS OF T.A.S CONTRACTS/DECEMBER THROUGH MARCH.

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 FEB 25, THEIR HUGE RAID TO LOWER THE PRICE OF GOLD TO MAKE THEIR COMEX BETS WHOLE ON OPTIONS EXPIRY WEEK AND THUS THE NEED FOR CONTINUAL STRONG T.A.S. ISSUANCE AND THEN LIQUIDATION. THIS WAS COUPLED WITH THE LIQUIDATION OF CALENDAR//MONTH END SPREADERS . THE USE OF OUR TWO SPREADER MECHANISMS WERE OF EXTREME IMPORTANCE TO OUR CROOKS IN LATE JANUARY OPTIONS EXPIRY TRADING AND AGAIN WITH FEBRUARY OPTION EXPIRY MONTH. HALF WAY THROUGH THE JANUARY COMEX MONTH, THE CROOKS ISSUED FIVE CONSECUTIVE 30,000+ CONTRACT ISSUANCE OF T.A.S KNOWING THAT THEY WERE GOING TO INITIATE HUGE RAIDS ON OUR METALS. THEN THEY ISSUED IN LATE FEB, ANOTHER 5 CONSECUTIVE 30,000+ ISSSUANCES.THIS IS THE FIRST TIME WE WILL HAVE THREE CONSECUTIVE MONTHS OF +30,000 T.A.S CONTRACT ISSUANCES: JANUARY, FEB AND MARCH!!!

STANDING FOR GOLD FOR THE PAST 4 PLUS YEARS:

// WE HAD A HUGE AMOUNT OF GOLD TONNAGE STANDING:   MARCH (42.7838 TONNES) WHICH IS HUGE FOR OUR NON ACTIVE MARCH DELIVERY MONTH / FEB HAD THE HIGHEST STANDING FOR GOLD EVER RECORDED FOR ANY MONTH.

YEAR 2025:

JAN 2025: 113.30 TONNES

FEB: 2025: 256.607 TONNES (WHICH INCLUDES 18.4567 TONNES OF EX FOR RISK)

AND NOW MARCH:

STANDING FOR GOLD : 42.7838 TONNES WHICH IS EXTREMELY HIGH FOR A NON DELIVERY MONTH.

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

2025

January 2025: 70.102 TONNES + 43.208 EXCHANGE FOR RISK= 113.310 TONNES

FEBRUARY:/NEW STANDING ADVANCES TO 238.153TONNES +18.4527 EX FOR RISK

= 256.607 TONNES.

MARCH: 42.7838 TONNES

COMEX GOLD TRADING/MARCH CONTRACT MONTH

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $12.45/)/BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A STRONG SIZED GAIN IN OUR TWO EXCHANGES. BUT AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION MONDAY AS THEY WERE TRYING TO QUELL GOLD’S RISE AND STOP HUGE COMEX/OTC DERIVATIVE LOSSES FROM ALSO RISING. FEB 24 ENDED COMEX OPTIONS EXPIRY. HOWEVER AS I EXPLAINED ON FEB MONTH END, WE HAD THE MUCH BIGGER OTC.LONDON.OTC EXPIRY.THE BANKERS WERE UNSUCCESSFUL IN SLOWING THEIR DERIVATIVE LOSSES IN PRECIOUS METAL BETS WITH OPTIONS EXPIRY FOR BOTH COMEX AND LONDON OTC!!

LAST NIGHT/MONDAY MORNING

THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL MONDAY EVENING/TUESDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING SEVERAL WEEKS TO DELIVER AND THUS THE REASON FOR THE HUGE LEASE RATE AT 10% (SCARCITY OF GOLD)

EXCHANGE FOR RISK EXPLANATION/DECEMBER AND JANUARYTRADING

DECEMBER MONTH EXCHANGE FOR RISK!

88 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 6 FOR 14.6836 TONNES A NEW RECORD. THE COMEX IS TOTALLY SHATTERED TO PIECES.

EXCHANGE FOR RISK // JANUARY MONTH!!

LO AND BEHOLD, THE CROOKS ISSUED THEIR FIRST ISSUANCE A 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 OUR TWO EARLY JANUARY EX FOR RISK: 5.7533 TONNES. THEN MERCILESSLY THEY CONSUMMATED FOR THE THIRD TIME THIS MONTH 85 EXCHANGE FOR RISK LAST THURSDAY NIGHT (JAN 17) FOR 8500 OZ OR .2649 TONNES OF GOLD. THEN TO MY HORROR THEY ISSUED THEIR 4TH EXCHANGE FOR RISK THIS MONTH (JAN 22) FOR A MONSTER 5000 CONTRACTS OR 5,000,000 OZ.(15.562 TONNES).NOT TO BE UNDONE, THE CROOKS ISSUED THEIR FIFTH EXCHANGE FOR RISK LAST NIGHT FOR 500 CONTRACTS REPRESENTING 50,,000 OZ OR 1.555 TONNES OF GOLD. REMEMBER THAT THE BUYER ASSUMES THE RISK THAT HE WILL BE DELIVERED UPON WHICH IS TOTALLY ASININE!! THUS FOR THE 5 EXCHANGE FOR RISK ISSUED THIS MONTH TOTALS 23.134 TONNES OF GOLD. THIS BRINGS US TO , JAN 25 WHERE THE CME ANNOUNCED ITS SIXTH MAJOR EXCHANGE FOR RISK ISSUANCE OF 6454 CONTRACTS FOR 645,400 OZ OR 20.074 TONNES OF GOLD. THIS IS THE HIGHEST EVER RECORDED ISSUANCE IN NUMBER OF EXCHANGE FOR RISK, AT 6, AND FOR NEW TOTALS FOR THE MONTH OF JANUARY: 43.208 TONNES!!! AND A NEW RECORD FOR ISSUANCE.

EXCHANGE FOR RISK CONTRACTS/MONTH FOR FEBRUARY:

THE CME ANNOUNCED TO THE WORLD THAT ON FEB 4 THEY ISSUED 100 CONTRACTS OF EXCHANGE FOR RISK TO THE BANK OF ENGLAND.THEN A FEW NIGHTS AGO, THEY ISSUED THEIR SECOND CONSECUTIVE EXCHANGE FOR RISK OF 500 CONTRACTS FOR 50,000 OZ (1.555 TONNES OF GOLD. FEB 6 WAS THE THIRD ISSUANCE FOR A HUGE 2400 CONTRACTS, 240,000 OZ OR 7.465 TONNES. AND THEN FINALLY FRIDAY NIGHT, THE 4TH EXCHANGE FOR RISK WAS ISSUED REPRESENTED BY 2834 CONTRACTS OR 283400 OZ OR 8.8149 TONNES OF GOLD WITH THE OWNER OF THOSE CONTRACTS BEING THE BANK OF ENGLAND. THE BANK OF ENGLAND WANTS THEIR GOLD BACK. THIS NEW EXCHANGE FOR RISK WILL BE ADDED TO PREVIOUS EXCHANGE FOR RISK OF 9.3264 TONNES TO A NEW TOTAL EXCHANGE FOR RISK = 18.1413 TONNES. IN MID WEEK WE HAD ANOTHER .3114 TONNES OF EXCHANGE FOR RISK ISSUANCED//NEW TOTAL 18,4527 TONNES!..FINALLY THIS TOTAL WILL NOW BE ADDED TO OUR REGULAR DELIVERIES THROUGH THE MONTH. FOR FRIDAY FEB 28 ZERO EXCHANGE FOR RISK WAS ISSUED.

TOTAL INITIAL DELIVERIES MARCH GOLD TRADING

MARCH: 42.7838 TONNES

WE HAVE GAINED A STRONG SIZED TOTAL OF 28.90 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR MARCH (31.753TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 8,000 OZ OR 0.2488 TONNES: NEW TOTAL STANDING 42.7838 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $12.45

WE HAD 356 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 6193 CONTRACTS OR 619300 0Z (19.26 TONNES)

confirmed volume MONDAY 294,278 contracts: fair///

//speculators have left the gold arena

END

MARCH

// THE MARCH 2025 GOLD CONTRACT

MARCH 11

INITIAL

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	0 entries           .
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	2 ENTRIES 2 entries i) Into JPMorgan customer account 321,118.849 oz (999 kilobars)) ii) Into JPMorgan enhanced: 137,669.900 oz or 344 London good delivery bars total weight 169,788.749 oz (5.281 tonnes)
No of oz served (contracts) today	136 notice(s) 13,600 OZ 0.423 TONNES
No of oz to be served (notices)	48 contracts    4800 OZ 0.1493 TONNES
Total monthly oz gold served (contracts) so far this month	13,707 notices 1,370.700 oz 42.634 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month

dealer deposits: 0

nil

xxxxxxxxxxxxxxxx

we have 2 customer deposits:

2 ENTRIES

2 entries

i) Into JPMorgan customer account 321,118.849 oz
(999 kilobars))
ii) Into JPMorgan enhanced: 137,669.900 oz
or 344 London good delivery bars

total weight 169,788.749 oz (5.281 tonnes)

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

withdrawals: 0

xxxxxxxxxxxxxxxxxx

adjustments:1/comex is in chaos

a) dealer to customer Brinks 160,782.151 oz

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

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MARCH

THE FRONT MONTH OF MARCH HAD A LOSS OF 389 CONTRACTS TO STAND AT 184. WE HAD 469 CONTRACTS SERVED ON MONDAY SO WE GAINED A CONSIDERABLE 80 CONTRACTS FOR 8,000 OZ (0.2428 TONNES AS A PHYSICAL GOLD QUEUE JUMP. THIS IS CENTRAL BANKS LOOKING FOR BADLY NEEDED GOLD.

APRIL HAD A LOSS OF 15,466 CONTRACTS DOWNTO 300,295 CONTRACTS AS THIS MONTH BECOMES THE FRONT MONTH. APRIL IS QUITE LOFTY AND NO DOUBT WE WILL HAVE A HUMONGOUS AMOUNT OF GOLD STANDING

MAY GAINED 15 CONTRACTS UP TO 353.

We had 136 contracts filed for today representing 13,600oz  

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 136 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 7 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for MARCH /2025. contract month, we take the total number of notices filed so far for the month (13,707 X 100 oz ) to which we add the difference between the open interest for the front month of  MARCH.(184 CONTRACTS)  minus the number of notices served upon today  (136 x 100 oz per contract) equals  1,375,500 OZ  OR 42.7838 TONNES (DATA IS CME CORRECTED FROM MONDAY)

thus the INITIAL standings for gold for the MARCH contract month:  No of notices filed so far (13,707x 100 oz +we add the difference for front month of MARCH (184 OI} minus the number of notices served upon today (136 x 100 oz) which equals  1,375,500 OR 42.7838 TONNES

TOTAL COMEX GOLD STANDING FOR MARCH.: 42.7838 TONNES WHICH IS HUGE FOR THIS NON ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR. FEBRUARY HAD THE HIGHEST DELIVERY FOR ANY MONTH AND MARCH IS FOLLOWING SUIT..

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: 2,085,544.431 oz 64.86 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 40,117,945.640 .oz  

TOTAL REGISTERED GOLD 19,780,150.222 or 615.245 tonnes

TOTAL OF ALL ELIGIBLE GOLD: 20,337,795.418 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 17,694,606oz (REG GOLD- PLEDGED GOLD)= 550.03 tonnes //

END

SILVER/COMEX

// THE MARCH 2025  SILVER CONTRACT//INITIAL

MARCH 11

INITIAL

// THE MARCH 11 2025  SILVER CONTRACT//BC 597,219.640 oz

 THE MARCH 7 2025  SILVER CONTRACT//

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	one entry:: 2119.827 oz Delaware o oz
Deposits to the Dealer Inventory	1 entries 1 entry i) 331,735.600 oz Brinks dealer acct
Deposits to the Customer Inventory	5 ENTRIES 5 entries i) Into Asahi 617,857.430 oz ii) Into Brinks customer: 1000.00 oz iii) Into HSBC 597,219.640 oz iv) Into JPMorgan: 1,235,548.000 oz v)Into Malca: 699,721.518 oz total weight; 3,151,346.588 OZ
No of oz served today (contracts)	271 CONTRACT(S)    (1.355 MILLION OZ
No of oz to be served (notices)	1770 contracts  (8.850 MILLION oz)
Total monthly oz silver served (contracts)	13,268 Contracts  (66.340 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)  1 dealer  deposit/

1 entry

i) 331,735.600 oz Brinks dealer acct

total dealer; 331,735.600 oz oz

total dealer withdrawals: 0 oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

deposits customer side

5 entries

i) Into Asahi 617,857.430 oz

ii) Into Brinks customer: 1000.00 oz

iii) Into HSBC 597,219.640 oz

iv) Into JPMorgan: 1,235,548.000 oz

v)Into Malca: 699,721.518 oz

total weight; 3,151,346.588 OZ

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

withdrawals 1

one entry::

2119.827 oz Delaware

xxx

ADJUSTMENTs 1

i) Customer to dealer Manfra 328,802.123 oz

JPMorgan has a total silver weight: 172.269million oz/433.779 oz million  or 39.72%

TOTAL REGISTERED SILVER: 145.975 MILLION OZ//.TOTAL REG + ELIGIBLE. 433.759Million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR FEBRUARY

silver open interest data:

FRONT MONTH OF MARCH /2025 OI: 2041 OPEN INTEREST CONTRACTS FOR A GAIN OF 49 CONTRACTS.WE HAD 63 CONTRACTS SERVED ON MONDAY SO WE GAINED 112 CONTRACT OR 0.560 MILLION COMEX OZ STANDING UNDERWENT A QUEUE JUMP LOOKING FOR METAL OVER ON THIS SIDE OF THE POND. WE MUST NOW ADD THAT CRAZY 70 CONTRACT EX FOR RISK FOR 350,000 OZ. THE BANK OF ENGLAND IS ASSUMING THE RISK OF DELIVERY AND THE COUNTERPARTY ARE BULLION BANKS WHO CANNOT GUARANTEE DELIVERY. (DATA IS CME CORRECTED)

APRIL SAW ANOTHER GAIN OF 49 CONTRACTS TO STAND AT 2041

MAY SAW A GAIN OF 352 CONTRACTS UP TO 117,147 CONTRACTS

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 271 or 1.355 MILLION oz

CONFIRMED volume; ON MONDAY 60,411 small//

AND NOW MARCH DELIVERIES:

To calculate the number of silver ounces that will stand for delivery in MARCH. we take the total number of notices filed for the month so far at 13,268 X5,000 oz = 66.340 MILLION oz 

to which we add the difference between the open interest for the front month of MAR (2041) AND the number of notices served upon today (271 )x (5000 oz)

Thus the  standings for silver for the MARCH 2025 contract month:  (13,268) Notices served so far) x 5000 oz + OI for the front month of MAR(2041) minus number of notices served upon today (271)x 5000 oz equals silver standing for the MARCH contract month equating to 77.900 MILLION OZ. (DATA:CME CORRECTED) TO WHICH WE ADD .350 MILLION OZ EX FOR RISK//NEW TOTAL 78.25 MILLION OZ//

 New total standing:  78.25 million oz which is huge for this very active delivery month of March.

We must also keep in mind that there is considerable silver standing in London coming from our longs in New York that underwent EFP transfers.

There are 145.978million 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

0 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/

MARCH 11  WITH GOLD UP $21.20 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.45 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 891.30 TONNES

MARCH 10  WITH GOLD DOWN $12.45 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.30 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 894.317 TONNES

MARCH 7  WITH GOLD DOWN $12.00 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.72 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 898.64 TONNES

MARCH 6  WITH GOLD UP $2.10 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.44 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 900.30 TONNES

MARCH 5  WITH GOLD UP $6.75 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 0.87 TONNES INTO THE GLD ///INVENTORY RESTS AT 901.80 TONNES

MARCH 4  WITH GOLD UP $19.05 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 3.45 TONNES INTO THE GLD ///INVENTORY RESTS AT 900.93 TONNES

MARCH 3  WITH GOLD UP $50.70 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 1.72 TONNES INTO THE GLD ///INVENTORY RESTS AT 904.38 TONNES

FEB 28  WITH GOLD DOWN $44.70 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 1.72 TONNES INTO THE GLD ///INVENTORY RESTS AT 904.38 TONNES

FEB 26  WITH GOLD DOWN $40,85 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 3.45 TONNES INTO THE GLD ///INVENTORY RESTS AT 907.83 TONNES

FEB 25  WITH GOLD DOWN $40,85 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 3.45 TONNES INTO THE GLD ///INVENTORY RESTS AT 907.83 TONNES

FEB 24  WITH GOLD UP 7,65 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 20.66 TONNES FROM THE GLD ///INVENTORY RESTS AT 904.38TONNES

FEB 21  WITH GOLD DOWN $1.35 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 5.77ONNES FROM THE GLD ///INVENTORY RESTS AT 883.72TONNES

FEB 20  WITH GOLD DOWN $10.40 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 8.51TONNES FROM THE GLD ///INVENTORY RESTS AT 877,95TONNES

FEB 19/  WITH GOLD DOWN $10.40 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 6.38TONNES FROM THE GLD ///INVENTORY RESTS AT 869.44TONNES

FEB 18/  WITH GOLD UP $43.00 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.14TONNES FROM THE GLD ///INVENTORY RESTS AT 863.06TONNES

FEB 13/  WITH GOLD UP 11.00 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 6.901 TONNES FROM THE GLD ///INVENTORY RESTS AT 866.50TONNES

FEB 12  WITH GOLD DOWN $3,40ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 864.19 TONNES

FEB 10  WITH GOLD UP $10.75 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 864.19 TONNES

FEB 7  WITH GOLD UP $10.75 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 864.19 TONNES

FEB 6  WITH GOLD DOWN $18.15 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 1.14 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.19 TONNES

FEB 5  WITH GOLD UP $27.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.72 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 863.05 TONNES

 FEB 4  WITH GOLD UP $25.00 ON THE DAY; SMALL CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 0.58 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.77 TONNES

JAN 31  WITH GOLD UP $4.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.15 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.19 TONNES

 JAN 30  WITH GOLD UP $40.95 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 4.30 TONNES OF GOLD INTO THE THE GLD ///INVENTORY RESTS AT 865.34 TONNES

 JAN 29  WITH GOLD DOWN $6.25 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 4.02 TONNES OF GOLD INTO THE THE GLD ///INVENTORY RESTS AT 861.04 TONNES

JAN 28  WITH GOLD UP $23.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 3.16 TONNES OF GOLD OUT OF THE GLD //

JAN 27  WITH GOLD DOWN $36.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 5.17 TONNES OF GOLD OUT OF THE GLD ///

JAN 24  WITH GOLD UP $16.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 5.17 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.19 TONNES

 JAN 23  WITH GOLD DOWN $1.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 2.30 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 869.36 TONNES

 JAN 22  WITH GOLD UP $15.15 ON THE DAY; MEGA HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 7.46 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 871.66 TONNES

 JAN 20  WITH GOLD UP $35.30 ON THE DAY; MEGA HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 10.34 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 879.12 TONNES

GLD INVENTORY: 891.30 TONNES, TONIGHTS TOTAL

SILVER

MARCH 11 WITH SILVER UP $0.60 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.816 MILLION OZ INTO THE THE SLV. //INVENTORY AT SLV RESTS AT 436.410 MILLION

MARCH 10 WITH SILVER DOWN 25 CENTS/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.276 MILLION OZ INTO THE THE SLV. //INVENTORY AT SLV RESTS AT 435.591 MILLION

MARCH 7 WITH SILVER DOWN 40 CENTS/HUGL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.184 MILLION OZ OUT OF THE SLV. //INVENTORY AT SLV RESTS AT 434.317 MILLION

MARCH 6 WITH SILVER UP 16 CENTS//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.455 MILLION OZ OUT OF THE SLV. //INVENTORY AT SLV RESTS AT 436.046 MILLION

MARCH 5 WITH SILVER UP 82 CENTS//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.172 MILLION OZ OUT OF THE SLV. //INVENTORY AT SLV RESTS AT 436.501 MILLION OZ

MARCH 4 WITH SILVER UP 9 CENTS//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.82 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 436.673 MILLION OZ

MARCH 3 WITH SILVER UP $0.78//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.819 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 438.493 MILLION OZ

FEB 28 WITH SILVER DOWN 0.56//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.819 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 438.493 MILLION OZ

FEB 26 WITH SILVER DOWN $0.90//HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6,245 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 441.4061MILLION OZ

FEB 25 WITH SILVER DOWN $0.90//HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6,245 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 441.4061MILLION OZ

FEB 24WITH SILVER DOWN $0.15//NO CHANGES IN SILVER INVENTORY AT THE SLV. //INVENTORY AT SLV RESTS AT 435.171MILLION OZ

FEB 21WITH SILVER DOWN $0.40//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : HUGE CHANGES AT THE SLV A WITHDRAWAL OF 0.456MILLION OZ/. //INVENTORY AT SLV RESTS AT 435,171MILLION OZ

FEB 20WITH SILVER UP $0.29//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : HUGE CHANGES AT THE SLV A WITHDRAWAL OF 1.547 MILLION OZ/. //INVENTORY AT SLV RESTS AT 435,171MILLION OZ

FEB 19WITH SILVER DOWN $0.16//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : HUGE CHANGES AT THE SLV A WITHDRAWAL OF 2.276 MILLION OZ/. //INVENTORY AT SLV RESTS AT 436.717MILLION OZ

FEB 18WITH SILVER UP $.56//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : NO CHANGES AT THE SLX/. //INVENTORY AT SLV RESTS AT 438.994MILLION OZ

FEB 14WITH SILVER UP $.01//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A DEPOSIT OF 1.593 MILLION OZ INTO THE SLV./. //INVENTORY AT SLV RESTS AT 437.401 MILLION OZ

FEB 12WITH SILVER UP $.01 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A DEPOSIT OF 8 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 437.401 MILLION OZ

FEB 10 WITH SILVER DOWN $0.26 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.73 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 428.66 MILLION OZ

 FEB 7 WITH SILVER DOWN $0.26 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.73 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 428.66 MILLION OZ

FEB 6 WITH SILVER DOWN $0.17 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 12.383 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 430.39 MILLION OZ

FEB 5 WITH SILVER UP $0.45 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 3.285 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 442.773 MILLION OZ

FEB 4 WITH SILVER UP $0.81 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.550 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 446.331 MILLION OZ

FEB 4 WITH SILVER UP $0.81 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.550 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 446.331 MILLION OZ

FEB 3 WITH SILVER UP ONE CENT //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.550 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 446.331 MILLION OZ

JAN 31  WITH SILVER DOWN $0.19 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.369 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 448.881 MILLION OZ

jAN 30  WITH SILVER UP $0.76 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.003 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 451.249 MILLION OZ

jAN 29  WITH SILVER UP $0.34 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.639 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 453.252 MILLION OZ

jAN 28  WITH SILVER UP $0.34 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.821 MILLION OZ OUT OF THE SLV./. /

jAN 27  WITH SILVER DOWN $.61 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.64 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 457.395 MILLION OZ

JAN 24  WITH SILVER DOWN $.21 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.64 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 457.395 MILLION OZ

JAN 23  WITH SILVER DOWN $.41 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 4.738 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 459.035 MILLION OZ

JAN 22  WITH SILVER UP $.08 //SMALL CHANGES IN SILVER INVENTORY AT THE SLV : A DEPOSIT OF 0.721 MILLION OZ INTO THE SLV./. //INVENTORY AT SLV RESTS AT 464.043 MILLION OZ

JAN 20  WITH SILVER DOWN $.09 //NO CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.568 MILLION OZ FROM THE SLV./. //INVENTORY AT SLV RESTS AT 463.315 MILLION OZ

CLOSING INVENTORY 436.410 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

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

Alasdair Macleod..

Is the credit bubble bursting?

The collapse in US tech and Bitcoin says it is

Alasdair MacleodMar 11∙Paid

READ IN APP

In recent days, there has been a dramatic fall in tech stocks as shown in the first chart below. In the second chart, Bitcoin which showed earlier signs of losing momentum, confirms.

Plainly, the feed of credit into speculative momentum plays is faltering. The chart of margin account leverage confirms that the wrong sort of players is getting caught, with highly leveraged plays yet to be unwound.

How serious is it?

The panic appears to have only just started, as the realities of Trump’s economic policies are being ingested. And as I argued recently, the combination of a credit bubble and raised tariffs is a repeat of 1929—1932, aka the biggest bear market in history.

My Substack subscribers are aware of my views about the credit bubble, and how this time the fallout from its bursting cannot be smoothed over by the usual Fed and US Treasury policies of cutting interest rates and chucking credit at the problem, like they did in 2007—2009. They can try it, and they surely will.

The consequence will be currency destruction value expressed in real money, which is gold. That is to say, the dollar will buy less and importantly measured in gold it will sink as those pesky foreigners panic out. The relative attractions of other currencies won’t cut it, being similarly over-valued.

Financial violence usually has perverse effects. If the slide in US and global equities continues, then gold, silver, and related mining stocks could become a source of funds to cover losses. The effect should be limited because central banks are mopping up all the physical metal they can find. But it won’t stop the bullion bank establishment from trying to bash paper prices to trigger long stops.

If they are stupid enough to try it, it should be regarded as a heaven-sent opportunity for those who know that the only way to play it is to get out of credit and into real money — physical gold and silver.

4 ANDREW MAGUIRE/LIVE FROM THE VAULT NO 213//ANDREW MAGUIRE

Kinesis.money/live-from-the-vault/trump-expose-feds-gold-coverup/

On LFTV, Maguire says shortcovering in gold is getting hard to hide

Submitted by admin on Sat, 2025-03-08 17:56 Section: Daily Dispatches

5:55p ET Saturday, March 8, 2025

Dear Friend of GATA and Gold:

Signs of shortcovering in the gold market are getting harder to hide, London metals trader Andrew Maguire tells this week’s episode of Kinesis Money’s “Live from the Vault” program. The bullion banks that used to sell gold unrelentingly are buying for their own accounts, he adds. He believes silver will follow gold’s breakout soon.

The program is 53 minutes long and can be viewed at YouTube here:

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

Episode 212

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

6 CRYPTOCURRENCY NEWS

ASIA TRADING TUESDAY MORNING MONDAY  NIGHT

SHANGHAI CLOSED UP 13.67 PTS OR 0.41%

//Hang Seng CLOSED DOWN 135.01 PTS OR 0.45%

// Nikkei CLOSED DOWN 235.16 OR 0.64%//Australia’s all ordinaries CLOSED DOWN 0.91%

//Chinese yuan (ONSHORE) CLOSED UP TO 7.2348 CHINESE YUAN OFFSHORE CLOSED UP TO 7.2361/ Oil UP TO 66.86 dollars per barrel for WTI and BRENT UP TO 70.14 Stocks in Europe OPENED ALL MIXED

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

STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

END

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

ONSHORE YUAN:   CLOSED UP AT 7.2348

OFFSHORE YUAN: DOWN TO 7.2361

SHANGHAI CLOSED CLOSED UP 13.67 PTS OR 0.41%

HANG SENG CLOSED CLOSED DOWN 135.01 PTS OR 0.45%

2. Nikkei closed DOWN 235.16 OR 0.64%

3. Europe stocks   SO FAR:  ALL MIXED

USA dollar INDEX DOWN TO  103.43// EURO RISES TO 1.0904 UP 65 BASIS PT HEADING TO PARITY WITH USA

3b Japan 10 YR bond yield: FALLS TO. +1.494//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.63…… 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 UP for WTI and UP FOR BRENT this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.8720/Italian 10 Yr bond yield UP to 3.928 SPAIN 10 YR BOND YIELD UP TO 3.507

3i Greek 10 year bond yield UP TO 3.678

3j Gold at $2908.20 Silver at: 32.48  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 1 AND 56 /100  roubles/dollar; ROUBLE AT 85.63

3m oil into the 66 dollar handle for WTI and  70 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 147.63 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.494 % 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 0.8818 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9615 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: 4.237 UP 2 BASIS PTS…

USA 30 YR BOND YIELD: 4.550 UP 1 BASIS PTS/

USA 2 YR BOND YIELD:  3.910 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 36.58…

10 YR UK BOND YIELD: 4.7165 UP 7 PTS

10 YR CANADA BOND YIELD: 3.035 UP 5 BASIS PTS

5 YR CANADA BOND YIELD: 2.678 UP 5 PTS.

2a New York OPENING REPORT

Futures Rebound From Worst Plunge Of 2025 As Trump Meets CEOs

by Tyler Durden

Tuesday, Mar 11, 2025 – 08:21 AM

US equity futures are higher, rebounding from the biggest selloff since last September (and since 2022 for the Nasdaq) with both tech and small caps outperforming as Trump is set to meet with top business executives later in the day, and Goldman speculating that he will address the recent stock market plunge, with the mere confirmation expected to send stocks higher. As of 8:00am ET, S&P futures are up 0.4%, while Nasdaq futures gain 0.6% after plunging 4% on Monday,  with all Mag7 names (ex AAPL) higher premarket with Semis, Financials, and Int’l Equity ADRs also poised to outperform. The JPM Trading Desk says it likes participating in this bounce higher but warns that it may be short-lived unless trade policy is crystallized (well, duh). Delta’s earnings (and now American’s this morning) calling out uncertainty for hitting guidance may increase expectations for Trump to establish the “Trump Put” in Equity markets. Trump may also visit China in April, according to press reports, potentially to do a trade deal as a second summit in the US in June is also in discussion. Bond yields are higher as the yield curve twists flatter and the USE slides again, helping US stock futures in their attempt to rebound after Monday’s slump. Commodity prices are strong across all 3 complexes with precious metals the standout, as gold storms back over $2900. Today’s macro data focus is on JOLTS data and Small Business Optimism which slumped to 100.7 from 102.8, the lowest since Trump won the election (future hiring plans are a leading indicator for NFP).

In premarket trading, Delta Air Lines shares tumbled 11% after the airline cut its adjusted earnings per share guidance for the first quarter, sending shock waves across the sector (United Airlines -8.0%, American Airlines -6.5%). Tesla is leading premarket gains among the Magnificent Seven stocks, with the EV maker set to rebound after a 15% rout on Monday. The slide came as investors dumped last year’s biggest winners amid growing fears that the economy is headed for a recession (Tesla +3.2%, Nvidia +0.84%, Meta +0.8%, Amazon +0.5%, Alphabet +0.3%, Microsoft -0.1%, Apple -0.3%). Here are some other notable premarket movers:

• Asana shares slump 27% after the work management platform provider announced Dustin Moskovitz would retire as chief executive officer. Additionally, the company issued first-quarter revenue guidance that failed to meet consensus expectations.
• Oracle shares fall 2.9% after the software company reported third-quarter results that missed the average analyst estimates. Morgan Stanley says there are questions surrounding the durability of its training business and rising margin impacts.
• 2Seventy Bio shares surge 76% after Bristol Myers Squibb agreed to buy the biotech company for $5.00 per share in cash.
• Net Power shares extended losses, falling 36% to new record lows as investors continued to sell the clean energy technology company after it announced higher than anticipated costs for its Project Permian project.
• Redwire shares plunge 17% after the space infrastructure company reported revenue for the fourth quarter that trailed Wall Street’s expectations.

The latest company results hinted at slowing profits earnings. Delta Air Lines shares tumbled as much as 11% in US premarket trading after a a deep cut to profit expectations. The news hit peers United Airlines Holdings Inc. and American Airlines Group Inc., and also weighed on European airlines. Sofware firm Oracle Corp. slipped after its results missed estimates.

The selloff in US stocks, particularly in the tech sector, has been accompanied by shift in investor perception on Europe and China, especially after Germany’s pledge to embark on large-scale defense spending. “The news flow from the US economy is likely to undershoot the rest of the world in coming months,” Citigroup strategists wrote. They downgraded their view on US stocks to neutral from overweight, ditching a position they had held since October 2023. Earlier, HSBC strategists also cut their view on US stocks, raising their European equity rating instead.

Meanwhile, Trump’s meeting with the Washington-based Business Roundtable will include CEOs from around the country, including the bosses of Wall Street lenders, Bloomberg reported. Given the increasingly uncertain outlook for the US economy and trade war concerns, investors will watch for any signals from Trump on the likelihood of tariff-policy shifts or support for equity markets. According to Goldman’s Delta One team, even an acknowledgement of market conditions by the president during this meeting, “would be enough for a bear market rally.”

“What is being questioned in the market is US exceptionalism,” said Aneeka Gupta, head of macroeconomic research at Wisdom Tree UK Ltd. “When Trump came back into the White House, the focus on was on the positive impact of his policies, but now the market is really drilling down into the negatives.”

European stocks retreated for a fourth straight session as worries about a faltering US economy fueled a global selloff, with the region’s travel and airline stocks sliding after US airline Delta cut its 1Q profit expectations. Travel and health care underperformed, pulling the Stoxx 600 down by about 0.2%. The DAX outperformed regional peers, adding 0.6%, after Bloomberg reported that Germany’s Greens are ready to negotiate and are hoping for an agreement by the end of this week in a dispute over defense spending. Here are the biggest movers Tuesday:

• Redcare Pharmacy shares surge as much as 18%, the most since May 2022, after the online pharmacy provided a 2025 outlook that pleased analysts, with peer DocMorris rising as much as 8.4%
• Volkswagen shares rise as much as 3.7% to their highest intraday value in nine months. The German carmaker’s full-year results are called strong by JPMorgan, highlighting working capital
• Rotork shares rise as much as 6.9% after reporting 2024 results that beat expectations, with signs of improved momentum in the latter-half of the period leaving the actuators manufacturer in good shape
• Sensirion shares advance as much as 13% as the sensor maker delivers results which analysts say represent a significant beat. JPMorgan says estimates for FY25 may increase by almost 30%
• Prysmian shares rise as much as 4.2% after UBS upgrades its recommendation to buy, saying that recent declines related to a broader unwind of the AI trade has created an attractive entry point
• Burberry shares rise as much as 3.9% after BNP Paribas Exane upgraded the luxury goods stock to outperform from neutral, citing the firm’s refocus on heritage products under CEO Joshua Schulman
• Henkel shares fall as much as 7.6%, the most in almost three years, after the company reported 4Q results that fell short of expectations and issued a warning for negative consumer volumes in 1Q
• Partners Group shares gain as much as 2.4% after the Swiss private equity company reported better-than-expected results due to higher fees. Analysts will focus on Partners Group first CMD
• European travel stocks slide, tracking declines in US peers after Delta Air Lines cut its profit expectations for the first quarter on weakening travel demand
• Galderma shares drop as much as 6.7% to a three-month low after shareholders sold a stake of roughly 6.3% in the Swiss skincare group at a discount to Monday’s close
• PolyPeptide shares drop as much as 11%, the most since June, after the Swiss biotech reported 2024 revenue that missed estimates and gave a wide guidance range for 2025 that RBC said implies cuts
• Traton falls as much as 5% as Kepler Cheuvreux cuts its recommendation on the truckmaker to reduce from hold a day after results; Kepler notes Traton the US market is recovering slower than anticipated

Earlier in the session, Asian stocks also slumped, taking cues from the tech-led sell-off stateside. Nikkei 225 retreated following disappointing Household Spending and revised Q4 GDP data from Japan. Hang Seng and Shanghai Comp conformed to the negativity amid light catalysts and as the NPC concludes today. ASX 200 was dragged lower by underperformance in tech and with most sectors in the red aside from energy and some defensives, while improved consumer confidence and mixed business surveys did little to inspire a rebound.

In FX, the Bloomberg Dollar Spot index fell 0.3%. The haven FX rally falters, as JPY and CHF flip to be the weakest performers in G-10 FX. NOK and SEK outperform. The euro was the biggest gainer, strengthening 0.6% as German lawmakers are expected to reach an agreement over additional spending. 

In rates, Treasuries drop with the 10-year yield rising 4bps to 4.24% ahead of US job openings and layoffs data. German bond yields rise across the curve, led by the 10-year. Comparable gilts are little changed. Peripheral spreads tighten to Germany with the 10y BTP/Bund narrowing 2.7bps to 110.4bps.

In commodites, crude futures advance. WTI drifts 1% higher to near $67.  Most base metals trade in the green. Spot gold rises roughly $25 to trade near $2,914/oz. Spot silver gains 1.4% near $33. Bitcoin rebounds, climbing above $81,000.

Market Snapshot

• S&P 500 futures up 0.4% to 5,641.25
• STOXX Europe 600 little changed at 546.15
• MXAP down 0.7% to 185.10
• MXAPJ down 0.5% to 580.83
• Nikkei down 0.6% to 36,793.11
• Topix down 1.1% to 2,670.72
• Hang Seng Index little changed at 23,782.14
• Shanghai Composite up 0.4% to 3,379.83
• Sensex little changed at 74,134.83
• Australia S&P/ASX 200 down 0.9% to 7,890.10
• Kospi down 1.3% to 2,537.60
• German 10Y yield little changed at 2.86%
• Euro up 0.6% to $1.0897
• Brent Futures up 0.4% to $69.55/bbl
• Gold spot up 0.7% to $2,907.92
• US Dollar Index down 0.41% to 103.48

Top Overnight news

• The conservative House Freedom Caucus backed a stopgap funding package, bolstering Speaker Mike Johnson’s attempt to pass the bill without the help of House Democrats and avert a government shutdown on March 15. BBG
• Trump has made calls to undecided House Republicans and will continue to work the phones today. Trump is reportedly “all in” and “Members can’t be on the wrong side of this.” said a House Republican. Speaker Johnson has multiple holdouts. Rep. Massie (R) the only public no, although there are others on the fence. Reps. Cammack (R) and Duyne (R) raised concerns about the measure during a GOP whip meeting on Monday: Punchbowl
• Trump was reportedly making calls to potential holdouts on a plan to avoid a government shutdown at the end of this week: Fox News.
• House Minority Leader Jeffries said House Democrats will not be complicit in supporting the Republican government spending bill.
• The Trump administration is prepared to enforce sanctions on Iranian oil production, Energy Secretary Chris Wright said. Treasury Secretary Scott Bessent also discussed pressure on Iran with his Saudi counterpart. BBG
• Washington and Beijing have begun discussions about a potential “birthday summit” in June in the U.S. between President Trump and Chinese leader Xi Jinping. The latest talks on a potential summit in the month when both leaders celebrate birthdays signal a willingness from both sides to inject some goodwill in the relationship amid trade tensions that have unsettled markets and businesses. WSJ
• Talks between the US and China on trade and other issues are stuck at lower levels, people familiar with the matter said, with both sides talking past each other and failing to agree on the best way to proceed. While representatives from the two countries have had contact, officials in Beijing say the US hasn’t outlined detailed steps they expect from China on fentanyl in order to have the tariffs lifted. Trump’s team rejects the assertion that it hasn’t given clear demands on fentanyl. BBG
• Ukraine launched its biggest drone attack on Moscow, targeting the Russian capital and other regions, hours before a Tuesday meeting between senior U.S. and Ukrainian officials to discuss ways to bring an end to the war after more than three years of fighting. WSJ
• Musk says DOGE is embedded in nearly every gov’t agency, and he wants to double headcount at the group as he ramps cost cutting initiatives throughout the federal government. NBC
• Oracle shares fell premarket after reporting lackluster results and a profit forecast that missed. BBG
• Airlines cutting guides… DAL -11% in pre-market.. Lowered 1Q guidance last night .. Guided EPS to $0.30-$0.50 vs. $0.70-$1.00 prior. Worse than expected, driven by domestic — consumer and corporate. LUV -2.75% in pre-market on light volume: Lowers Q1 RASM guide to +2-4% on capacity down ~2% vs. Prior RASM guide of +5-7%. Roughly 1 pt of decrease is due to higher-than-expected completion factor, less government travel and a greater impact from the California fires. The remainder of the decrease is primarily attributable to softness in bookings and demand trends as the macro environment has weakened.
• The BOJ probably won’t raise rates until June as it looks to maintain a pace of one hike every six months, despite recent speculation of an earlier move, former official Kazuo Momma said. BBG

Tariffs/Trade

• US President Trump said on Truth Social that “Despite the fact that Canada is charging the USA from 250% to 390% Tariffs on many of our farm products, Ontario just announced a 25% surcharge on “electricity,” of all things, and your not even allowed to do that. Because our Tariffs are reciprocal, we’ll just get it all back on April 2. Canada is a Tariff abuser, and always has been, but the United States is not going to be subsidizing Canada any longer. We don’t need your Cars, we don’t need your Lumber, we don’t your Energy, and very soon, you will find that out”.
• Japanese Trade Minister Muto said he asked that Japan be exempt from tariffs in talks with US officials and did not get any assurance from the US that Japan will be exempted from US tariffs due to come into force on Wednesday.
• South Korean acting President Choi said the time for negotiating with the US has begun ahead of reciprocal tariffs taking effect, while he added that President Trump’s America First moves are targeting South Korea and the government will respond calmly and flexibly, considering only national interests.
• Taiwan is said to launch an anti-dumping probe related to certain Chinese steel products and an anti-dumping probe related to beer from China.

A more detailed look at global markets courtesy of Newqsuawk

APAC stocks took their cues from the tech-led sell-off stateside after the Nasdaq suffered its worst day since 2022 amid recession fears and tariff-related concerns. ASX 200 was dragged lower by underperformance in tech and with most sectors in the red aside from energy and some defensives, while improved consumer confidence and mixed business surveys did little to inspire a rebound. Nikkei 225 retreated following disappointing Household Spending and revised Q4 GDP data from Japan. Hang Seng and Shanghai Comp conformed to the negativity amid light catalysts and as the NPC concludes today.

Top Asian News

• Nissan Motor (7201 JT) CEO Uchida is set to step down.

European bourses are mixed, with price action fairly rangebound thus far. The DAX 40 (+0.7%) outperforms, as the region reacts to optimism surrounding German defence spending plans, whilst the FTSE 100 (-0.1%) is a little lower. European sectors are mixed; Real Estate is propped up by post-earning strength in Persimmon (+4.2%); Autos benefits from post-earning strength in Volkswagen (+2.5%) which reported robust FY results, but its guidance was not so optimistic. Travel & Leisure is the clear underperformer, as the sector reacts to Delta Airlines (-10% pre-market) cutting guidance, amid weak demand.

Top European News

• Barclays UK February Consumer Spending rose 1.0% Y/Y (prev. +1.9%) and UK Consumers’ Confidence in household finance was the highest since the series began in 2015 at 75% (prev. 70%).
• Germany’s Greens reportedly made their own proposal to loosen defence spending, according to Bloomberg. Thereafter, the Green party co-leader says they are hopeful of a defence deal occurring this week.
• ECB’s Rehn says Europe needs common solutions to boost defence, Eurosystem’s forecast and indicators of core inflation suggest that it will align with the 2% target. Bank of Finland estimates US tariffs on the EU and China could reduce global output by over 0.5% this year and next. Defence investments must be increased at a time when EU countries already hold large public deficits.
• Riksbank’s Thedeen says there are signs of a business cycle rebound, with GDP growth exceeding expectations in the second half of last year; early-year indicators remain mixed.

FX

• DXY is on the backfoot and trades towards the bottom end of a 103.40-92 range, with the trough for the session marking a fresh YTD low. The downside today stems from a slight unwinding of its haven appeal seen on Monday, but more pertinently, the resurgence in the EUR (discussed below). Ahead, markets will await US JOLTS Job Openings data.
• EUR is the best performing G10 currency today, with commentary via a German Green party co-leader the main driver for the upside; the politician said that they are hopeful of a defence deal occurring this week. This follows on from reporting overnight via Bloomberg, which suggested that the Greens had made their own proposal to loosen defence spending. The Single Currency topped 1.09 earlier in the session and now looks to test the 5 Nov 2024 high at 1.0936. On the policy front, ECB’s Rehn said if the data indicates, the Bank would hold rates in April. Ahead, today sees a busy ECB speaker slate, including the likes of President Lagarde, VP de Guindos, Lane, Villeroy & Escriva
• JPY is the marginal underperformer today, alongside its haven peers CHF amid the modest improvement in sentiment. Overnight, USD/JPY was choppy owing to relatively disappointing Japanese GDP/Household spending metrics. The pair has been fairly unfazed by the Dollar weakness, currently trading in a 146.55-147.40 range.
• GBP is on a firmer footing, with upside largely a factor of the broader Dollar weakness rather than UK-specific newsflow. Overnight saw a downtick in Y/Y BRC retail sales and a Y/Y slowdown in the Barclays UK February Consumer Spending report. However, these prints had no follow-through into the pound. As it stands Cable sits at the top end of a 1.2873-1.2941 range.
• Antipodeans are both a little firmer, but to a lesser extent than the EUR and GBP, after marginal underperformance overnight.
• PBoC set USD/CNY mid-point at 7.1741 vs exp. 7.2597 (Prev. 7.1733).

Fixed Income

• USTs are essentially flat, but do hold a downward bias, as sentiment continues to incrementally improve in today’s session, and in tandem with the pressure seen in Bunds (see below). Focus for traders today will be on US JOLTS Job Openings, remarks from US White House Press Secretary Leavitt and then President Trump thereafter. But before those remarks, a 3yr auction; as a reminder, the prior outing was strong, which stopped through the when issued by 1.3bps. USTs currently trading towards the lower end of a 111-11 to 111-25 range. If the pullback continues then USTs have a little bit of clean air until the 111-00 mark.
• Bunds are pressured today and the underperformer amongst peers. Downside stems from comments via Germany’s Green party co-leader who said they are hopeful of a defence deal occurring this week. This followed on from reporting overnight which that the Greens had made their own proposal to loosen defence spending. Bunds have been holding a bearish bias throughout the European session thus far, and currently at the day’s trough at 127.04, just ahead of the 127.00 mark. Ahead, a 2027 Schatz tap and a slew of ECB speakers.
• Gilts are modestly lower, but to a much lesser extent than Bunds. UK-specific newsflow remains light, and will likely to remain-so up until the region’s GDP figures on Friday; more broadly however, PM Starmer held a cabinet meeting early doors which Politico reports is set to be focussed on the domestic agenda. This aside, European defence officials are due to meet in France today. Gilts currently in a 92.07-92.46 range, which marks a marginal new WTD low.
• Guidance for the UK’s 1.875% 2049 I/L Gilt benchmark reportedly +1.0 to +1.5bps, via Bloomberg citing sources. Orders for the UK 2049 I/L syndication are in excess of GBP 56bln, via Reuters citing a bookrunner; guidance +1.0 to +1.5bps.

Commodities

• Crude is on a firmer footing, after clambering off overnight lows which saw the complex modestly subdued. Upside today may stem from the a) weaker Dollar b) improvement in risk-tone (US indices look to open higher). Energy specific newsflow has been light this morning; more focus will be on Monday’s remarks from US Energy Secretary Wright who said he is looking at working with Congress on cancelling mandated sales from oil reserve. Brent’May currently trades at the top end of a USD 68.63-69.72/bbl range. Energy traders will await the EIA STEO and then Private Inventory data thereafter.
• Spot gold is back on a firmer footing, continuing the upward bias seen in APAC trade and amidst the broader Dollar weakness. XAU tested USD 2.9k overnight, and firmly topped the figure as the European session commenced; currently trading at the upper end of a USD 2,880.40-2,910.95/oz range.
• Base metals hold a positive bias, given the slight improvement in risk sentiment seen in today’s session, following a mostly subdued session overnight. 3M LME Copper is currently higher by just under USD 50/t, in a USD 9,460.95-9,602/t confine.
• BofA expects platinum to outperform Palladium going forward, expect a Platinum deficit and Palladium surplus for 2025. Lingering concerns over trade disputes may mean that PGMs get stranded in the US for a bit longer, potentially limiting liquidity in other markets.

US Event Calendar

• 06:00: Feb. SMALL BUSINESS OPTIMISM 100.7, est. 101.0, prior 102.8
• 10:00: Jan. JOLTS Layoffs Rate, prior 1.1%
• 10:00: Jan. JOLTS Layoffs Level, est. 1.81m, prior 1.77m
• 10:00: Jan. JOLTS Quits Rate, prior 2.0%
• 10:00: Jan. JOLTS Quits Level, est. 3.18m, prior 3.2m
• 10:00: Jan. JOLTS Job Openings Rate, est. 4.5%, prior 4.5%
• 10:00: Jan. JOLTs Job Openings, est. 7.6m, prior 7.6m

DB’s Jim Reid concludes the overnight wrap

Tonight sees a big Liverpool Champions League match. However, it annoyingly clashes with Maisie’s school parents evening. After much discussion I told my wife we’ll record it….. I’ll then watch it back when I’ve finished with the football.
On a serious note, you wouldn’t want to watch a re-run of yesterday’s session as the risk-off move showed no sign of abating with the S&P 500 (-2.70%) posting its worst day YTD for the third time in six sessions while the NASDAQ (-4.00%) saw its worst day since 2022. The moves cascaded across global markets, and the Magnificent 7 (-5.41%) even moved into bear market territory, having now shed more than -20% since its peak back in December. Even before the tariff news escalated this month, the Mag-7 had been underperforming. In February when the S&P 500 was down -1.42% the Mag-7 declined -8.77%. I think the Deep Seek news was much bigger than people gave credit for after the initial attention calmed down. The epic valuations have also contributed. Indeed you can see these extreme valuations, that were comparable to 2000, in my “Deeply Seeking Comparison to 2000” chartbook from the end of January here. The massive and increasing capex required for AI has also gained more attention of late. A reminder of my note on capex boom and busts through history here.

Within the Mag-7, Tesla (-15.43%) saw its worst day since September 2020 and has now fallen by -54% since its peak back in December. It’s now trading back to December 2020 levels. So it shows how quickly sentiment can change for such companies. The rest of the Mag-7 were down by between -2.4% and -5.1% yesterday. This included a -4.85% slide for Apple, which was its worst day since September 2022.

While big tech led the losses, the slump broadened as the session went on, with cyclical stocks underperforming. The small cap Russell 2000 (-2.72%) closed at its lowest level since last June and the S&P 500 growth index (-3.80%) had its worst day since September 2022, with investors seemingly more wary on the risks of a downturn after Trump’s comments over the weekend. In turn, volatility continued to escalate, with the VIX index (+4.49pts) closing at a new 2025 high of 27.86pts. Current losses for the S&P 500 (-8.62% from the peak) have now surpassed the moves last summer, when the index fell -8.49% from peak-to-trough. This now makes it the largest selloff for the S&P since 2023. And unlike last summer, yesterday did see the S&P 500 close beneath its 200-day moving average, which is the first time that’s happened since 2023 as well. This morning US futures initially fell a further percentage point but have subsequently rallied back with the S&P 500 and NASDAQ futures trading +0.26% and +0.15% higher respectively as I type.

With US equities losing ground yesterday and growth concerns mounting, that saw investors pour into US Treasuries with the 10yr yield falling -8.8bps to 4.21% and trading another -3.8bps lower in Asia this morning. Meanwhile, the 2yr yield (-11.6bps to 3.88%) yesterday saw its largest decline since the vol shock last August. This has come as investors have dialled up the chance of Fed rate cuts again, pricing in 84bps by the December meeting as I type, with a +12.6bps increase yesterday followed by another +1.2bps overnight.

Yesterday’s bond rally was helped by the New York Fed’s latest consumer survey, which added to evidence of deteriorating US consumer sentiment. For instance, the share of households expecting a worse financial situation one year from now rose to 27.4%, the highest since November 2023. On the other hand, the survey’s inflation expectations signal was broadly steady in February, with the 1yr measure up just a tenth to 3.1%, and the 3yr and 5yr measures unchanged at 3.0%. So it didn’t repeat the huge surge in the University of Michigan’s survey, providing some reassurance against fears that inflation expectations are becoming unanchored and suggesting that growth concerns are now dominating over inflation ones. On a related topic, our US economists yesterday published a timely report discussing the hawkish and dovish considerations that are likely to influence the Fed’s response to the evolving policy mix and upcoming dataflow.

Over in Europe, the main news came from Germany, after the Green Party said they wouldn’t support the proposal from the CDU/CSU and the SPD to amend the constitutional debt brake to unlock funds for defence and infrastructure spending. That’s significant, because a constitutional amendment requires a two-thirds majority, hence support from the Greens will be required, even though they’re not a part of the coalition talks. This likely represents a negotiating stance given that the Greens have previously supported much higher spending and an amendment of the debt break but the reforms are not a done deal yet, as it needs to be passed with two-thirds majorities in the Bundestag and Bundesrat. Later in the evening, the Greens proposed raising the threshold above which defence spending is exempt to 1.5% instead of the 1% proposed by the CDU/CSU and SPD, which in effect would lower the budget room available for other projects. Our German economists put out a note yesterday looking at the procedural hurdles and the key sources of uncertainty, and even though their base case remains for the reforms to pass, it’s unlikely to be a smooth passage.

Despite these latest hurdles, markets didn’t experience too big a reaction. That’s because talks are still happening between the various sides, so investors are anticipating that some sort of deal will be reached in the end. So even though yields on 10yr bunds moved about -3bps lower intraday when the news came out, they swiftly pared back the move. By the end of the session, yields on 10yr bunds (-0.2bps), OATs (-1.0bps) and BTPs (+0.7bps) were all little changed. And there was a continued steepening in the German yield curve, with the 2s10s up to 61.5bps, the steepest since July 2022.
In the meantime, European equities came under fresh pressure yesterday, building on their declines from last week even if they out-performed the US. That meant the STOXX 600 (-1.29%) fell to a one-month low, having hit an all-time high only a week earlier. As in the US, tech stocks led the declines, with the STOXX Technology index down -3.12%. At the country level, the German DAX (-1.69%) saw the biggest losses, meaning the index is now down -3.41% over the last two sessions.

Looking at other asset classes, the selloff was pretty consistent across the board. Credit spreads saw a noticeable widening, with US HY spreads (+19bps) posting their biggest daily jump since August, and also reaching their widest level since September. Oil prices lost ground too, with Brent crude (-1.53% to $69.28/bbl) closing at its lowest level since September. And Bitcoin took a fresh hit, falling -4.59% to close beneath $80,000 for the first time since November, and leaving it over 25% beneath its closing peak in January.

The global equity sell-off has continued in Asia but we’re well off the lows of the session as US futures have rebounded after a difficult open. Across the region, the KOSPI (-1.14%), Nikkei (-1.01%), Hang Seng (-0.80%), the CSI (-0.44%) and the Shanghai Composite (-0.36%) are all down but have rallied back as the morning has progressed.

Earlier, Japan’s household spending rose +0.8% y/y in January worse than the +3.7% market forecast and down from a +2.7% increase the prior month. Meanwhile, the final Japanese Q4 GDP slowed to +2.2% on an annualized basis (v/s +2.8% expected). On a q/q basis, GDP expanded +0.6% (v/s +0.7% expected), compared to the +0.7% growth in preliminary data released last month. Despite the downward revision of Japan’s Q4 GDP figures, the Japanese yen has continued its upward trend against the dollar, reaching a new multi-month high of 147.01, gaining +0.18%. Meanwhile, 10-year JGBs are -6.9bps lower, catching down with the US move, and are at 1.50% as we go to print.

To the day ahead now, and US data releases include the JOLTS report of job openings for January, along with the NFIB’s small business optimism index for February. Otherwise from central banks, we’ll hear from the ECB’s Rehn.

2b European opening report

2c Asian report

APAC stocks suffer losses after Nasdaq’s worst day since 2022 – Newsquawk Europe Market Open

Tuesday, Mar 11, 2025 – 02:46 AM

• APAC stocks took their cues from the tech-led sell-off stateside after the Nasdaq suffered its worst day since 2022.
• European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.4% after the cash market finished with losses of 1.5% on Monday.
• US equity futures (ES +0.2%, NQ +0.1%) regained some composure after the prior day’s sell-off which saw the S&P 500 fall to a six-month low.
• DXY is steady after a choppy session yesterday with G10 majors broadly contained; antipodeans marginally lag.
• 10yr UST futures extended their advances amid a flight to quality, Bunds gradually rebounded and reclaimed the 128.00 level.
• Crude futures were lacklustre with demand hampered alongside the global risk-off sentiment.
• Looking ahead, highlights include US NFIB Business Conditions, US JOLTS, EIA STEO, ECB’s Lagarde, de Guindos, Lane, Villeroy & Escriva, Supply from Germany & US.

SNAPSHOT

Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

US TRADE

EQUITIES

• US stocks slumped at the start of the week and wiped out Friday’s rally to hit six-month lows as concerns over the economy, US tariffs and retaliatory measures by others, sapped risk appetite. All major indices suffered firm losses with the Nasdaq the worst hit as it posted its largest daily loss since 2022 amid underperformance in tech and Communications.
• SPX -2.7% at 5,615, NDX -3.81% at 19,431, DJI -2.08% at 41,912, RUT -2.72% at 2,019.
• Click here for a detailed summary.

TARIFFS/TRADE

• US President Trump said on Truth Social that “Despite the fact that Canada is charging the USA from 250% to 390% Tariffs on many of our farm products, Ontario just announced a 25% surcharge on “electricity,” of all things, and your not even allowed to do that. Because our Tariffs are reciprocal, we’ll just get it all back on April 2. Canada is a Tariff abuser, and always has been, but the United States is not going to be subsidizing Canada any longer. We don’t need your Cars, we don’t need your Lumber, we don’t your Energy, and very soon, you will find that out”.
• Japanese Trade Minister Muto said he asked that Japan be exempt from tariffs in talks with US officials and did not get any assurance from the US that Japan will be exempted from US tariffs due to come into force on Wednesday.
• South Korean acting President Choi said the time for negotiating with the US has begun ahead of reciprocal tariffs taking effect, while he added that President Trump’s America First moves are targeting South Korea and the government will respond calmly and flexibly, considering only national interests.
• Taiwan is said to launch an anti-dumping probe related to certain Chinese steel products and an anti-dumping probe related to beer from China.

NOTABLE HEADLINES

• US President Trump was reportedly making calls to potential holdouts on a plan to avoid a government shutdown at the end of this week, according to Fox News.
• US House Minority Leader Jeffries said House Democrats will not be complicit in supporting the Republican government spending bill.

APAC TRADE

EQUITIES

• APAC stocks took their cues from the tech-led sell-off stateside after the Nasdaq suffered its worst day since 2022 amid recession fears and tariff-related concerns.
• ASX 200 was dragged lower by underperformance in tech and with most sectors in the red aside from energy and some defensives, while improved consumer confidence and mixed business surveys did little to inspire a rebound.
• Nikkei 225 retreated following disappointing Household Spending and revised Q4 GDP data from Japan.
• Hang Seng and Shanghai Comp conformed to the negativity amid light catalysts and as the NPC concludes today.
• US equity futures (ES +0.2%, NQ +0.1%) regained some composure after the prior day’s sell-off which saw the S&P 500 fall to a six-month low.
• European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.4% after the cash market finished with losses of 1.5% on Monday.

FX

• DXY was uneventful after a choppy session yesterday alongside the risk-off mood which spurred haven flows albeit with upside capped owing to a light calendar and US recession fears. Participants continued to await the CPI release on Wednesday which is also the day that US steel and aluminium tariffs take effect.
• EUR/USD edged marginally higher but remained within a tight parameter at the 1.0800 territory.
• GBP/USD lacked firm conviction after having whipsawed back and forth of the 1.2900 level amid the downbeat mood.
• USD/JPY was choppy after disappointing Japanese data releases offset the haven demand for the yen.
• Antipodeans languished near Monday’s lows amid the risk-off conditions and their high-beta characteristics.
• PBoC set USD/CNY mid-point at 7.1741 vs exp. 7.2597 (Prev. 7.1733).

FIXED INCOME

• 10yr UST futures extended their advances amid a flight to quality and with yields lower due to recession fears.
• Bund futures gradually rebounded and reclaimed the 128.00 level but with upside capped ahead of German supply.
• 10yr JGB futures rallied after weaker-than-expected Japanese revised GDP and Household Spending data.

COMMODITIES

• Crude futures were lacklustre with demand hampered alongside the global risk-off sentiment.
• US Energy Secretary Wright said he is looking at working with Congress on cancelling mandated sales from the oil reserve, while he noted working with Congress on the SPR takes time and refilling the reserve could take 5-7 years.
• Spot gold nursed some of the prior day’s losses and retested the USD 2,900/oz level to the upside.
• Copper futures remained subdued after trickling lower amid the spooked risk sentiment.
• Chile’s Cochilco Copper Production (Jan, tonnes): Codelco -4% Y/Y to 102.7k, Escondida +12% at 109.4k, Collahuasi -46.4% Y/Y at 28k.

CRYPTO

• Bitcoin recovered from an initial dip and gradually climbed back above the USD 80,000 level.
• US Senate Banking Chair Tim Scott is eyeing a Thursday Senate Banking vote on a stablecoin bill.

NOTABLE ASIA-PAC HEADLINES

• US and China began discussions about a potential Trump-Xi summit for June, according to WSJ.

DATA RECAP

• Japanese GDP Revised QQ (Q4) 0.6% vs. Exp. 0.7% (Prev. 0.7%)
• Japanese GDP Rev QQ Annualised (Q4) 2.2% vs. Exp. 2.8% (Prev. 2.8%)
• Japanese All Household Spending MM (Jan) -4.5% vs. Exp. -1.9% (Prev. 2.3%)
• Japanese All Household Spending YY (Jan) 0.8% vs. Exp. 3.6% (Prev. 2.7%)
• Australian Westpac Consumer Sentiment MM (Mar) 4.0% (Prev. 0.1%)
• Australian NAB Business Confidence (Feb) -1.0 (Prev. 4.0, Rev. 5)
• Australian NAB Business Conditions (Feb) 4.0 (Prev. 3.0)

GEOPOLITICS

MIDDLE EAST

• Israeli army said it targeted military headquarters and sites containing weapons in southern Syria.
• Yemen’s Houthis said they will take military measures as soon as the Gaza aid four-day deadline ends.

RUSSIA-UKRAINE

• Ukrainian President Zelensky said Ukraine’s position in Tuesday’s talks with US officials will be “fully constructive” and a significant part of Monday’s talks in Saudi Arabia was dedicated to security guarantees for Ukraine, while it was also reported that the Saudi Crown Prince underscored in a meeting with Ukrainian Zelensky his support for all international efforts aimed at resolving the crisis and achieving peace.
• Saudi Crown Prince and US Secretary of State Rubio discussed regional and international developments in Jeddah, while they also discussed the reconstruction of Gaza, Yemen and threats to navigation from Houthis Rubio also reiterated firm US commitment that any solution to the situation in Gaza must not include any role for Hamas.
• Flights were suspended at two airports serving Moscow and a fire broke out at a parking lot, while train services were also halted in Moscow’s Domodedovo region following a drone attack. It was later reported that Russia downed 337 Ukrainian drones over Russian regions and defence units destroyed 73 Ukrainian drones that targeted Moscow.
• US Special Envoy Witkoff plans to visit Moscow for a meeting with Russian President Putin, according to a Bloomberg reporter on X cited by Reuters.

OTHER

• French President Macron said Moldova is facing increasingly blatant Russian threats.
• Norway’s armed forces said two Norwegian F-35 jets shadowed two Russian military aircraft in international airspace in a routine operation on Monday.

EU/UK

NOTABLE HEADLINES

• Barclays UK February Consumer Spending rose 1.0% Y/Y (prev. +1.9%) and UK Consumers’ Confidence in household finance was the highest since the series began in 2015 at 75% (prev. 70%).
• Germany’s Greens reportedly made their own proposal to loosen defence spending, according to Bloomberg.

DATA RECAP

• UK BRC Retail Sales YY (Feb) 0.9% (Prev. 2.5%)
• UK BRC Total Sales YY (Feb) 1.1% (Prev. 2.6%)

3 .ASIA

3A NORTH KOREA/SOUTH KOREA

3BJAPAN

3C. CHINA/

CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

England heading for trouble!

British Blasphemy? UK Govt Moves Toward New Definition Of “Islamophobia” For Speech Regulation

Tuesday, Mar 11, 2025 – 03:30 AM

Authored by Jonathan Turley,

Recently, after the speech of Vice President J.D. Vance in Munich, various European leaders went public to express their shock and disbelief that they would be accused of rolling back on free speech. For many of us, it was a laughable display of denial, particularly from UK Prime Minister Keir Starmer. 

In a country that has eviscerated free speech, Starmer told Bret Baier that the UK “guards” free speech and “we don’t believe in censoring speech.” 

Now, the government is continuing this month with its effort to regulate and criminalize speech.

The effort to crack down on “Islamophobia” could create a type of blasphemy standard if it encompasses criticism of the faith or its practices.

Deputy Prime Minister Angela Rayner has announced that the government will be further cracking down on hate speech with a new working group tasked with defining ‘Islamophobia’. 

The free speech community is raising the alarm that the effort is likely to further broaden the government controls over speech.

It was announced last week that Rayner’s working group would be chaired by former Conservative attorney general Dominic Grieve KC, who has himself admitted that defining Islamophobia while safeguarding free speech is ‘extremely difficult.’ 

Notably, Grieve wrote the foreword to the 2018 All Party Parliamentary Group (APPG) report on Islamophobia, which advanced a definition that many critics argue is far too broad.

The APPG included criticism of Islamic beliefs and practices as examples of Islamophobia. 

It has been condemned for treating criticism of the faith as a type of hate speech.

For years, I have been writing about the decline of free speech in the United Kingdom and the steady stream of arrests, including in my book, The Indispensable Right: Free Speech in an Age of Rage.

A man was convicted for sending a tweet while drunk referring to dead soldiers. Another was arrested for an anti-police t-shirt. Another was arrested for calling the Irish boyfriend of his ex-girlfriend a “leprechaun.” Yet another was arrested for singing “Kung Fu Fighting.” A teenager was arrested for protesting outside of a Scientology center with a sign calling the religion a “cult.”Last year, Nicholas Brock, 52, was convicted of a thought crime in Maidenhead, Berkshire. The neo-Nazi was given a four-year sentence for what the court called his “toxic ideology” based on the contents of the home he shared with his mother in Maidenhead, Berkshire. Judge Peter Lodder QC dismissed free speech or free thought concerns with a truly Orwellian statement: “I do not sentence you for your political views, but the extremity of those views informs the assessment of dangerousness.”

Lodder lambasted Brock for holding Nazi and other hateful values:

“[i]t is clear that you are a right-wing extremist, your enthusiasm for this repulsive and toxic ideology is demonstrated by the graphic and racist iconography which you have studied and appeared to share with others…”

The fear is that an expanded hate speech law that includes criticism of Islamophobia will operate like a British blasphemy law. 

In 2008, the common law offences of blasphemy and blasphemous libel were abolished in England. 

This new effort could constructively restore such prosecutions as they relate to Islam.

Jonathan Turley is the Shapiro professor of public interest law at George Washington University and the author of “The Indispensable Right: Free Speech in an Age of Rage.

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL HAMAS///

Hamas claims victory while people claim failure, Gazan says – opinion

The ceasefire lasted nearly 50 days before collapsing, yet the killing did not end, and none of the disasters that have devastated Gaza were addressed.

By AHMED ABD AL-SALAM/THE MEDIA LINEMARCH 11, 2025 11:29

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fopinion%2Farticle-845590&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

Gaza City – They declared victory and handed out sweets as if the war had ended. But for the people of Gaza, the suffering never stopped. The ceasefire lasted nearly 50 days before collapsing, yet in that time, the killing did not end, and none of the disasters that have devastated Gaza were addressed.

Thousands of bodies remain buried beneath the rubble, an unbearable reminder that life in Gaza is defined by destruction. Chaos rules every aspect of daily existence. Salaries and personal bank deposits are stolen by powerful, well-known figures who control the cash flow, taking a 20% cut for themselves.

The economic crisis deepens, with no solutions for the broken currency system or Gaza’s battered transportation sector. Public transit remains unsafe, yet fares have not changed—another burden on a population that can barely afford to live.

The black market thrives, preying on desperation. Cooking gas sells for 10 times its usual price, diesel and gasoline are unaffordable, and frozen meat, often in dangerously unhealthy conditions, is priced beyond reach. Housing is obscenely expensive, despite the lack of water and electricity. The streets are not streets anymore but mountains of rubble, with trash piling up in every corner.

Municipal workers can do nothing to clean up the devastation because there is no equipment—no trucks, no tractors, no resources. The concept of rebuilding is a fantasy. Schools, kindergartens, universities—education itself—remain in limbo, and government institutions are completely paralyzed. Daily life is suffocated by frustration, with no hope on the horizon.

For many, escape has become the only dream. Some have already left Gaza. Many more want to, but they are trapped.

Gazans heavily dismiss Trump’s evacuation plan

Even when US President Donald Trump made a statement suggesting a way out, it was dismissed—perhaps because it came from him, or perhaps because people feared being labeled as traitors for even considering it.

END

ISRAEL/HAMAS

ISRAEL /WEST BANK

IDF eliminates several terrorists in Jenin, arrests senior member of terror group

By JERUSALEM POST STAFFMARCH 11, 2025 11:0

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-845588&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF eliminated a number of armed terrorists barricading themselves in a building in Jenin and arrested a senior member of a terrorist organization in the area, the army said on Tuesday.

The operation was carried out jointly by IDF soldiers from the Duvdevan unit, Shin Bet (Israel Security Agency), and Border Police officers.

END

ISRAEL/HEZBOLLAH/LEBANON

SYRIA/ISRAEL

Alawite Syrians calling on Israel for help from jihadist atrocities

(JerusalemPost)

Alawite Syrians to ‘Post’: We need Israel’s help from jihadist atrocities – exclusive

“Al-Sharaa’s forces are carrying out ethnic cleansing against the ‘infidels,’” a Syrian Alawite told the Jerusalem Post

By OHAD MERLINMARCH 11, 2025 13:28

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-845607&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

Women were kidnapped, children massacred, and thousands from the Alawite minority escaped to the mountains for asylum from other atrocities reportedly carried out by Al-Sharaa’s forces. The Jerusalem Post reached out to two Alawite civilians from Syria and Israel to learn more about the events taking place in Syria’s coastal region.

“The situation is disastrous,” E., an Alawite civilian contractor from the area of Jableh in the coastal region of Syria, told the Post.

“They are killing children and women. There is an ethnic cleansing going on here; they leave nothing behind, they kill everyone, and it’s all documented on video,” he added, referring to horrendous videos circulating online showing humiliation, degradation, and mass killings happening in Syria.

“I don’t understand what their idea is. It’s Islamist Jihad, they probably think they need to get rid of the ‘infidels,’ E. added, terror in his voice. “For them, children are infidels, women are infidels, everyone is an infidel. Women are being taken to Idlib, I don’t know what to tell you, we are in a dire situation, people are literally hiding in the woods.”

When asked to convey what had happened since the collapse of the Assad regime and until now, E. explained: “Since the collapse of the regime, the former regime’s army simply disappeared. Thousands were released from prison, and everyone who had any relation to the army deserted. After that, people began to get stressed. The new government failed to take control. They suddenly started kidnapping young people randomly. Some defied them because of this; we saw some protests and clashes, and there was shooting at the protesters. From there, everything became worse.”

E. described the situation across the coastal region as a set of ghost cities and towns, some blocked by the new regime’s loyalists. “Banias was purged, and so were entire areas such as Al-Qusur and Al-Muruj. There is no one left there. They took people from there, tied them to cars, and dragged them on the streets. They’re all using racist rhetoric. Many of us fled to the mountains,” he explained, aghast.

When asked if those committing the atrocities were armed gangs or official forces belonging to the regime, E. emphasized: “The armed gangs are the regime! It’s all the same; they all belong to Ahmad Al-Sharaa.”

As for the number of casualties, estimated by some organizations to have reached almost 1,000, E. claimed that many thousands are missing or dead. “We have no way of really knowing how many there are, as this is not over yet. We are blocked from reaching our towns, we are not allowed to collect the bodies of our dead, some were dispersed at sea; entire cities were wiped out,” he added. “The regime takes UN observation forces to areas where nothing happened, trying to convince them that all is well.”

When asked if he has a message for the Israeli government, E. stressed: “We need someone to save us – to support us, to help us, to protect our people. Our cities are burning, and the people cannot speak. Before this, with the old regime, we lived in extreme poverty, and today we live in terror and catastrophe. The Alawites were always a peaceful people,” he concluded.

Israeli Alawite: ‘Syrian Alawites beg Israel for help’

B. is a doctor from the tiny Alawite community in Israel. “We are a very small community. Our religion believes in humanity. We hold that there is no difference between Muslims, Jews, and Christians. In the Alawite village in Israel, Ghajar, you will see the ‘Garden of Peace,’ with symbols of Judaism, Christianity, and Islam. We are an open religion that is far from any of the nonsense of extremism.”

---

---

According to B., the Alawites were always persecuted and discriminated against, especially because of their different religious affinity. “But the main theme of our religion has always been harmony, love, and peace,” he stressed.

Ghajar is the only Alawite village in Israel, located in the Golan Heights. Today, it boasts some 3000 residents, which have been under Israeli rule since 1967. “We are people who are connected to the state and support the State of Israel; we know that Israel extends its hand for peace,” B. added.

For decades, special arrangements were made with the UN so that citizens of Ghajar could study in Damascus. “I had many friends from Damascus who initially hated the Jews; they would ask me if the Jews tried to eat me,” B. retold. “I explained to them what the State of Israel was and who Jews were, and I believe that I had convinced them and changed their minds. My friends even started singing Israeli songs at some point.” However, since the civil war broke out in Syria over a decade ago, these arrangements were frozen.

When asked about the religious affinity of the Assad regime, B. sighed. “People considered him part of the Alawite religion, but he never showed any affiliation to our religion, and many of us were never loyal to him and to his regime. The regime decided to shake hands with foreign forces for political reasons. In our opinion, it was a mistake, and we knew that it would lead to a disaster, and now, here we are,” he added, referring to the dire situation of the Alawite community in Syria.

B. is planning to meet with Israeli officials in an attempt to promote a protective Israeli umbrella to the Alawite community in Syria. “There are five million Alawites in Syria, and many of them are begging for Israel’s support and protection,” B. added. “We know that there’s tensions with Turkey, but as Israel did with the Druze, so it should be done here too. Just like us, they can be loyal to Israel. They know that only here can they live in dignity with no oppression.

ISRAEL SYRIA

IDF strikes regime weapons in Syria, car thief breaks into IDF base

By JERUSALEM POST STAFF

The presence of such equipment constitutes a threat to the State of Israel and IDF operations, the military explained.

By LIRAN AHARONI, AMIR BOHBOTMARCH 11, 2025 06:41Updated: MARCH 11, 2025 10:45

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-845545&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

The Israeli Air Force attacked military sites and Syrian regime military headquarters containing weapons in southern Syria on Monday night, the army said on Tuesday.

The army said that the operation targeted night radars and detection equipment, which could be used to build an aerial intelligence picture. 

The presence of such equipment constitutes a threat to the State of Israel and IDF operations, the military explained, and the targets were attacked in order to eliminate future threats.

END

ISRAEIL MIDDLE EAST/MINORITIES

Israel’s new status will be defending non-Islamist minorities in the Middle East – opinion

In witnessing the persecution and suffering of the Middle East’s Christian communities, Israel is willing to posture itself as a defender of minorities suffering from extreme Islamism.

By YISRAEL MEDADMARCH 11, 2025 00:12

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fopinion%2Farticle-845504&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

Old concepts and ideas can undergo a rejuvenation.

A new book, The Hebrew Falcon by Roman Vater, has as its subject Adya Horon, born Adolphe Gourevitch, who became an early admirer of Ze’ev Jabotinsky. It was his seminal thinking which, together with others, gave birth to the Canaanite idea. Horon sought to create a Hebrew nation in the 1940s and 1950s, and later, Uri Avnery and Natan Yellin-Mor sought to create a Semitic expanse to replace an Arab Middle East.

While his idea of a throwback political construct that would replace Zionism ultimately failed, its ramifications on language, literature, culture, and art in Israel were significant.

END

HOUTHIS//ISRAEL

Airstrike targets Houthi radars in Yemen – report

By JERUSALEM POST STAFFMARCH 11, 2025 18:40

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Houthi radars in Yemen were targeted in airstrikes, Saudi state-owned Al-Arabiya reported on Tuesday.

This is a developing story.

END

EGYPT

Egypt is gaining with discoveries in natural gas;

(zerohedge)

Egypt’s Ambitious Oil And Gas Plans

Monday, Mar 10, 2025 – 10:00 PM

Authored by Felicity Bradstock via OilPrice.com,

• Egypt plans to build a $7 billion petrochemical complex and launch new oil and gas auctions to boost domestic production.
• The country aims to enhance energy security and attract foreign investment, despite recent economic challenges and energy shortages.
• Egypt is balancing its fossil fuel development with renewable energy targets, though it has adjusted its green energy goals.

Oil-rich Egypt has big plans for the future of its fossil fuel development with several major new auctions and investments planned for the North African country. A new $7 billion petrochemical complex and other major oil and gas investments are expected to reinvigorate Egypt’s oil industry, although it may have to win back investor confidence following a disappointing financial year.

Egypt is a major African fossil fuel producer, the second-largest non-OPEC producer of liquid fuels after Angola. It was also the second-largest producer of natural gas in Africa in 2022, after Algeria. The expansion of Egypt’s gas production has been supported by the launch of operations at several major offshore fields over the past decade, including its Zohr gas field. However, Egypt’s gas production has been forecast to fall in the coming decades as Zohr matures, as well as due to several recent exploration failures.

In February, Egypt signed a framework agreement with U.K.-based Shard Capital and Saudi Arabia’s Al-Qahtani Group to construct a $7 billion petrochemical facility in New Alamein City in the northwest of the country. The project will be overseen by a consortium, including members from Shard Capital, Al-Qahtani Group, and the UAE’s Royal Strategic Partners. Once complete, it is expected to produce 3.1 million tonnes of eight different petrochemical products annually.

Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, said that advanced technologies will be incorporated into the facility’s design to reduce the impact on the environment. Badawi said the development is key to improving the value of Egypt’s natural resources. The complex is expected to enhance Egypt’s export capacity significantly. It is also expected to help deepen ties between Egypt, Gulf countries and the U.K.

In March, Egypt’s Ministry of Petroleum and Mineral Resources announced new investment opportunities, aimed at expanding exploration and production activities. The ministry plans to offer seven undeveloped fields in the Mediterranean and six exploration areas in the Gulf of Suez and the Western Desert. Companies can bid using the Egypt Upstream Gateway (EUG) over the next two months, until 4th May 2025.

The ministry recently closed the bidding round for 13 exploration areas and mature fields, after several offers were received, which are currently being assessed. The combined investments from the previous auction could bring in more than $700 million in investments.

In the new auction, the seven undeveloped fields are being offered in two clusters – the Aten, Merit, and Rahmat fields, as well as the Notus, Salamat, Satis, and Salmon fields. This approach is aimed at increasing investment returns, reducing production costs, and streamlining development and production processes.

The government aims to boost Egypt’s energy security through the expansion of the country’s oil and gas industry. 

The largely untapped natural gas reserves in the Mediterranean are expected to help make Egypt more energy-independent in the future, as the national energy demand continues to grow. Egypt’s President Abdel-Fattah El-Sisi views the country as a production and re-export hub for international markets.

As host to the 2022 COP27 Climate Conference, Egypt also stated aims to expand its renewable energy sector. Before hosting COP27, Egypt pledged to increase renewable energy production to 42 percent of its energy mix by 2035, a target which it later moved forward to 2030. In June 2024, then-Electricity Minister Mohamed Shaker announced the ambitious target of an energy mix with 58 percent renewables by 2040. 

However, in October, the government revised its green energy target, reducing the figure to 40 percent of the energy mix. During the announcement, Petroleum Minister Karim Badawi said that natural gas will remain a vital part of the country’s energy mix for several years. At the opening session of the Mediterranean Energy Conference 2024, Badawi stated, “This is a message to all of us to work together to increase discoveries and attract more investments through the bids being offered for exploration, aiming to achieve new discoveries in the region, which holds more wealth, particularly natural gas.”

Egypt’s government is currently working to rebuild trust with foreign companies following the 2024 energy crisis. Following a sharp gas production decline, Egypt was forced to import billions of dollars’ worth of gas cargoes to meet its national demand last summer. The energy ministry had to resort to load-shedding to keep its grid online as its gas supplies depleted and demand rose. As Egypt was facing a currency crisis, countries, including Saudi Arabia and Libya, stepped in to help Egypt fund the gas imports it needed. 

Egypt’s pound experienced a devaluation of 60 percent between March and September 2024. In addition, Egypt reportedly accumulated around $6 billion worth of debt for gas and fuel supplies. President Sisi and Energy Minister Badawi now aim to attract new investments through the new oil and gas auctions, as well as reassure companies that already have operations in Egypt.

RUSSIA UKRAINE

UKRAINE//USA

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

MARK CRISPIN MILLER

Billy Joel “topples over on stage”; Kat Timpf has breast cancer; Auburn coach Hugh Freeze has prostate cancer; OR 

UNITED STATES

Billy Joel, 75, loses his balance and topples over on stage after throwing his microphone: ‘He looked frail’

February 27, 2025

Billy Joel suffered a nasty fall on stage when he toppled over in front of a crowd after throwing his microphone. The singer, 75, was performing a gig at the Mohegan Sun resort in Montville, Connecticut, on Saturday when he lost his footing. Billy was performing his song It’s Still Rock and Roll to Me when he stumbled backwards and fell on his back, prompting gasps from the audience. The musician was helped up by his band managed to carry on with the rest of the show and sang one more song for his fans. One attendee said: ‘He looked frail hobbling across the stage. At one point, he was using the microphone stand as a cane. I was really very concerned about him throughout the concert.’

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Fox News star Kat Timpf gives birth just hours after receiving cancer diagnosis & credits son with ‘saving her life’

February 25, 2025

Fox News star Kat Timpf has revealed she was diagnosed with breast cancer hours before giving birth to her first son. Timpf, 36, said her new baby “might’ve saved her life” in a surprising announcement on Tuesday in which she revealed both the birth of her son and her diagnosis. Timpf said 15 hours before she gave birth to her first child with her husband, Cameron Friscia, she was diagnosed with breast cancer. “Now, before you worry, my doctor says it’s Stage 0 and is confident that it almost certainly hasn’t spread,” she wrote on Instagram. “Or, as I’ve explained to the few people I’ve managed to tell about it so far: don’t freak out. “It’s just, like, a little bit of cancer.” In the comedian’s typical fashion, Timpf included jokes about her hectic day in the news of her health scare. “I asked all the questions I could, including if I could get a copy of my tumor ultrasound to put on the fridge next to the ultrasound of my baby,” she said. She also said doctors recommended she get a double mastectomy as soon as possible.

Link

I Didn’t Know I Was Having a Heart Attack, Until My Doctor Told Me ‘Go to the Hospital Right Now’

February 27, 2025

Sisi Li, the founder of the fashion house Nells Nelson, didn’t know that a childhood bout with rheumatic fever had damaged her heart. At the end of 2023, she began experiencing health struggles that she originally thought were due to grief over losing her father, but she was actually in cardiac distress. Li continued to work, unaware that she was having a heart attack. After undergoing life-saving surgery at Northwell Lenox Hill Hospital in New York, Li has incorporated her health journey into her new collection — and will donate a portion of the proceeds from a specially designed piece to women’s heart initiatives.

No age reported.

Link

Carly Pearce Is Sick, and She Ain’t Got Time For Your Foolery: Country Star Breaks up Fight at England Concert

February 25, 2025

Back in June 2024, Carly Pearce [34] released her fourth studio album with Hummingbird. With the album gaining praise from fans, Pearce decided to hit the road with her Hummingbird World Tour. Going international, Pearce appeared excited when she touched down in the U.K. The only problem, the singer fell ill. While taking the advice from doctors, Pearce offered fans an update about her future shows. On Monday, Pearce jumped on Twitter to share a picture of her lying in bed, surrounded by medicine and a few water bottles. She wrote, “Yall, the last few days I have been battling feeling sick but yesterday the flu hit me right in the face. God has a funny sense of humor sometimes… these shows in the UK are some of the biggest sold out shows of my career & of course this would happen, right?!” While some expected Pearce to cancel her upcoming concerts, the singer wasn’t about to let the historic moment of her career pass her by. “With the help of my doctor & team, we WILL finish out this tour strong and I will give you EVERYTHING I have.” Managing to find her way to the stage at the O2 Academy in Birmingham, England, Pearce explained to the crowd about her ongoing sickness. She promised to still perform but was going to offer a simplistic version of her show.

Link

Auburn football head coach Hugh Freeze diagnosed with cancer

March 1, 2025

AUBURN, Ala. – Auburn football head coach Hugh Freeze has been diagnosed with cancer. According to a statement from the university, Freeze was diagnosed with an ‘early form of prostate cancer.’ Auburn says the cancer was detected early and Freeze’s doctors have advised that the cancer is very treatable and curable. Freeze will continue his normal coaching duties with forthcoming treatment and is expected to make a full recovery.

No age reported.

Link

Family of former Utah congresswoman Mia Love says cancer not ‘responding to treatment’

March 1, 2025

SARATOGA SPRINGS, NY — The family of former Utah congresswoman Mia Love says they’ve “shifted our focus from treatment to enjoying our remaining time with her” in a somber medical update. Love’s daughter, Abigale, posted a message on social media on Saturday, snapping a streak of months where Love had not posted on X, formerly known as Twitter. “Sadly, her cancer is no longer responding to treatment and the cancer is progressing,” Love’s family wrote, sharing a family photo. “We have shifted our focus from treatment to enjoying our remaining time with her.” Love, 49, revealed in 2023 that she had been diagnosed with glioblastoma, a form of brain cancer, in early 2022. She told an audience at a YSA Area Conference that she had outlived the initial 10 to 15 months she had been given to live.

Link

‘Challenging time’: Oregon Rep. Hoa Nguyen diagnosed with stage four cancer

February 28, 2025

PORTLAND, Ore – An Oregon state representative announced Friday that she has received a stage four cancer diagnosis that could impact her legislative duties. Rep. Hoa Nguyen (D-East Portland and Damascus) shared the news in a press release that described her diagnosis as “a difficult personal challenge” as she begins chemotherapy. “This is a challenging time for me, but I am fortunate to have an incredible team of doctors supporting me,” Nguyen said.

No age reported.

Link

UNITED KINGDOM

Loose Women’s Denise Welch diagnosed with ‘life-threatening’ illness – red flags to look out for

February 28, 2025

Denise Welch has spoken out about her recent diagnosis, following a 24-hour hospital ordeal. The much-loved Loose Women panellist had only just returned from an idyllic Caribbean vacation when she found herself in a dire medical emergency almost two weeks ago. In hospital, she was put on a drip and diagnosed with two intertwined conditions that have potentially serious complications. On the show, the 66-year-old explained: “I got back from a lovely holiday in the Caribbean last Saturday. All bronze, looking forward to coming on here last week and showing off my sun tan and ‘I’m back’ and all this. And I got rushed into hospital on the Saturday with acute peritonitis – a perforated diverticulitis,” she revealed. “So, I’ve been in hospital on a drip for a b***** week! Excuse me. Anyway, they didn’t have to do surgery, they got it with antibiotics, thank you… As my mother said, ‘Take me to the knacker’s yard’.”

Link

Skunk Anansie star announces devastating stage four cancer diagnosis and reveals how it inspired ‘emotional’ new album

February 26, 2025

Skunk Anansie bass player Richard ‘Cass’ Lewis [64] has revealed he was diagnosed with stage four cancer, but has now been declared free of the disease, which has inspired the band’s new album. During a Q&A in London, he said: “During the process of recording I was diagnosed with stage four cancer and so I was having chemo while we were making the album. I’d had some very intensive chemo sessions, and no one knew nothing. I just thought, I’m on this long road of chemo. And that took a year. And then [frontwoman] Skin’s daughter woke up one morning and said, ‘Uncle Cass is not sick anymore’.” Two weeks later, doctors revealed the cancer had “disappeared,” and he added: “Her little angel is my little angel.”

Link

Kate Beckinsale makes heartbreaking request for ‘irreplaceable’ mother amid cancer battle

February 25, 2025

Kate Beckinsale returned to Instagram on Tuesday with a heartbreaking plea to fans amid her mother’s battle with stage 4 cancer. The Underworld actress, 51, revealed last year that her mother, Judy Loe , was terminally ill, shortly after her stepdad, Roy Battersby died in January after suffering ‘a massive stroke’. Kate deleted all her posts from Instagram last month but returned with a request, asking her followers to pray for her “irreplaceable mama”. While Kate didn’t divulge any further information on her mom’s current health, she did allude that all is not well when she responded to a fan’s comment. “Cute! Hope all is well with your mother,” the fan commented, with Kate replying: “It is not.”

No age reported.

Link

NEPAL

Paras Shah hospitalized after heart attack

March 3, 2025

KATHMANDU – Former Crown Prince Paras Shah [53] has been admitted to Norvic Hospital in Thapathali after suffering a heart attack on Sunday. According to the hospital, his condition is stable, and he is out of danger. Shah, who has a history of heart-related issues, is reported to be showing signs of improvement.

Link

NEW ZEALAND

Award-winning businessman pulled face-down from surf at Great Barrier Island ahead of TV show appearance

February 28, 2025

Auckland – An award-winning New Zealand businessman due to appear in a local television series was flown to intensive care after being plucked face-down from the water near Great Barrier Island. A rescuer has described the moment he saw the man floating lifelessly, before rushing into the water, pulling him ashore and keeping him alive with CPR and a defibrillator before the victim was airlifted to hospital in Auckland. A Hato Hone St John spokesperson confirmed it was notified of a water-related incident at Medlands Beach on Sandhills Rd, Great Barrier, at 5.33 pm on Saturday. “One helicopter, one first response unit and one prime responder attended. One patient, in a serious condition, was airlifted to Middlemore Hospital.” A Sky TV spokeswoman confirmed to the Herald a contributor to a series set to air this year “suffered an injury” at Medlands Beach. “This injury was sustained after filming had wrapped in a different location, and their involvement in the series had concluded.”

No age reported.

Link

Auckland Deputy Mayor Desley Simpson announces shingles infection, urges vaccination

February 27, 2025

Auckland – Auckland Deputy Mayor Desley Simpson has announced she is suffering from shingles, saying it’s causing “unbelievable pain”. In a post on her Facebook page, Simpson confirmed the disease, adding, ”At the risk of inciting a whole lot of anti-vaxers, please get immunised. Feel as if I have a hedgehog taped to my face. Unbelievable pain, not constant but when it comes …,” she wrote, along with a weary face emoji.

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If you like “News from Underground” (or hate it, but get something out of it), please read this post.

DR PAUL ALEXANDER

Warning to POTUS Trump that FOX News & all the MAGA media & bobblehead YES men sycophants around you are hurting you politically by not telling you the truth: 1) erratic tariff behavior 2)Musk’s co-

Presidency is hurting you as NO one voted for him & he has not gone through congressional hearings etc. 3)Europe is about to rise militarily & economically due to the marriage to PUTIN, fix that

Dr. Paul AlexanderMar 10

READ IN APP

First, consider me an idiot and uninformed and consider this as a warning IMO remembering I am not those media, even substack and alternative media who have sold their souls and truth to the dollar, seeking jobs in your administration or kickback contracts by their never-ending stroking of any and everything you say or do, be it right or wrong, spinning wrong into right:

#1: your erratic tariff actions seem non-consequential and only designed for airtime…stop! The ON and OFF has damaged your credibility and suggests you are not understanding what you are doing. This is causing chaos in the global markets and in the USA, and so fire Lutnick! Does Lutnick not understand and all of you economic advisors, that tariffs can cause massive inflation on top of what already exists and even plunge USA into a recession? Who are these idiots advising you? I am no economist but understand the 101 of this. Stagflation is a risk then (both inflation and recession at once). It is madness to the US economy as well as to other economies for if you plunge their economies into recession, how will their people buy US’s goods? Look at the US dollar, it has lost value, all gains, and the T bond has dropped relative to Europe’s bonds, and moreover, people in USA now, investors are ‘bearish’, they are concerned. Lost confidence now.

Alexander News Network (ANN): Trump’s War 2.0 for America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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Do not put Lutnick back in media, he has no credibility now! You are losing credibility and stop making daily media appearances, the nation is getting weary of your face and voice and all the announcements; we love you but not every day! We want to see the POTUS when the announcement is serious, and we do not want to see how the sausage is made. People want real actions that affect their simple day to day lives, mom and pop, fly over, blue collar, taxpayers…they cannot afford rent, mortgage, food, eggs etc. this is real! Not meme coins faker money fraud schemes. Remove the billionaires from around you; not a good look for these people hurt Americans in COVID, enriched; it is as if all are tone deaf, stop the meme coins, bitcoins, money schemes…the GAZA announcement was fraught with ‘a tremendous real estate development opportunity’ and then you said ‘you will own it’…that meant you will benefit financially…this was a devastating statement. This can never happen and whomever put you up to it hurt your image.

#2: Your relationship with Musk has hurt you and the nation looks at Musk as the real POTUS; distance yourself from Musk now and put him through congressional hearings. Tell Americans how his money is divested, and the nation like for all, must hear it under oath, including having BIG BALLS et al. under oath; the nation cannot have 19-year-olds shredding the government agencies and we have no clue who they are and that they are vetted properly; Musk was not put out properly, he was shoved into our facers and down our throats; Americans do not like that. They are not fools, they understand the use of his money for stature and as a big stick etc. But it is clear what Musk et al. are doing IMO is wrong, in the manner it is. And we are being put at risk. You do know any disaster to happen now you will be blamed. Because of this.

#3: Europe looks at the implications of your alignment with Russa/Putin very seriously for it was Europe that suffered at the hands of dictators and strongmen in the past e.g. WWI, WWII etc. This Russia-USA-Ukraine war has now brought it to the doorsteps and they look to USA to lead and be the sober GLOBAL big brother; now Europe feels betrayed and on its own; this may well be the way it has to be e.g. that Europe must step up now but the open appeasement with Russia against Ukraine is unsettling and now they are talking nuclear arming up, escalating militarization etc. I mean, who told you to suspend the military and intel sharing with Ukraine? As much as I despise the cross-dresser pump wearing freak. That gave Russia advantage so is the USA now in the business of putting the thumb on the scale openly? To favor Russia? This is their fever to sweat for. Not the USA even as we created this disaster. How can Europe be our enemy or on the naughty seat while Russia is our friend? Can’t you not see that your glowing friendship to Putin (in this military issue) and to Musk is hurting you, your name, and the government and USA?

Is Pax Americana dead? Are we driving the creation of a new revived Europe (economically and militarily) for the 21st century to rival USA and supplant the USA? A new post-USA global order? Trust in USA is dwindling daily. Many nations globally are now onto a path of self-reliance and my concern is isolation of USA. We cannot let that happen.

Anyway, these are some thoughts.

___

You must not wait for another catastrophic crisis (at times manufactured but we are prevented from making our own basic personal decisions or accessing needed drugs and response tools) to catch you off-guard. We must take charge and be prepared today so that we can enjoy peace of mind tomorrow.

Enter the Wellness Company as a solution and a willing participant in the health care conversation. From telemedicine, prescriptions, memberships, and supplements, TWC is leading America with alternative choices to the traditional health care model.

SLAY NEWS

The latest reports from Slay NewsGermany Confirms mRNA ‘Vaccines’ Killed More People Than CovidA group of leading scientists in Germany has raised the alarm after discovering evidence buried in the German government’s official data that confirms excess deaths were caused by mRNA “vaccines” and not Covid.READ MOREPeer-Reviewed Study Links Bird Flu Strain to USDA Gain-of-Function Experiment in GeorgiaA bombshell new study has traced the origin of the latest strain of avian influenza H1N1 (bird flu) to the U.S. Department of Agriculture (USDA) Poultry Research Laboratory in Georgia.READ MOREArkansas Public Schools Will Soon Require Students Take Gun Safety CoursesPublic school students in Arkansas will soon be required to take gun safety courses as new state laws come into effect. READ MORECanada’s New Prime Minister Demands ‘Americans Show Us Respect’Canada’s new prime minister, globalist and former central banker Mark Carney, has demanded that President Donald Trump and the American people “show us respect.”READ MORERFK Jr to Meet with Top Food Industry Leaders amid MAHA PushHealth and Human Services (HHS) Secretary Robert F. Kennedy Jr. is set to meet leaders of America’s food industry giants.READ MOREJD Vance Setting Himself up for 2028 with Active Role in DiplomacyVice President JD Vance is already setting himself up for a presidential run in 2028 by taking an active role in diplomacy.READ MORERep Sylvester Turner Told Friend He Was ‘All Good’ Just Hours Before Sudden Death: ‘The Doctors Cleared Me’The sudden death of Democrat Rep. Sylvester Turner (D-TX) has stunned Washington D.C. and Capitol Hill.READ MOREDemocrats Demand Disciplinary Investgation of Acting US Attorney for DC Ed MartinDemocrats are pushing for an investigation into President Donald Trump’s choice to serve as Washington D.C. United States Attorney.READ MORETrump Urges MSNBC for Fire ‘Disgraceful’ Nicolle Wallace & Rachel Maddow: ‘Should Be Forced to Resign’President Donald Trump is calling on far-left “news” network MSNBC to fire two of its top anchors, Nicolle Wallace and Rachel Maddow.READ MORE

EVOL NEWS

RFK Jr. Asks CDC to Investigate Link Between Vaccines and Autism – EVOLRead more…Anti-Trump Candidate Wins Race to Replace Canadian PM Justin Trudeau – EVOLRead more…DOGE Uncovers More Than $300M in Loans Given to Children During Covid – EVOLRead more…Plane Crashes in Pennsylvania Residential Area with 5 People Aboard – EVOLRead more…Video: Vicious Rival Assaults High School Track Star During State Title Race in Virginia – EVOLRead more…ICE Arrests Palestinian Leader of Columbia’s Anti-Israel Protests – EVOLRead more…NASCAR Sues Michael Jordan, Slams His Racing Team as an ‘Illegal Cartel’ – EVOLRead more…Vatican Gives Update on Pope Francis’ Health – EVOLRead more…

MORE NEWS

NEWS ADDICTS

Purported Culprits Claim Responsibility as Elon Musk’s X Suffers Massive CyberattackElon Musk, owner of the social media platform X, said Monday that a massive cyberattack was launched against the site with IP addresses originating in the Ukraine region.Additionally, Newsweek reported that the pro-Palestinian hacker group Dark Storm Team took responsibility for the attacks.“The group is known for primarily targeting countries and entities that support Israel’s attack on Gaza following Hamas’ …READ THE FULL REPORTRonald Reagan’s Anti-Trump Son Flips, Praises POTUSThe son of former President Ronald Reagan, once a fiercely anti-Trump voice in the Republican Party, has suddenly come around.Michael Reagan, 79, praised President Donald Trump in a series of recent social media posts, crediting his launch of the U.S. Department of Government Efficiency with finding billions of dollars in wasteful spending that he said would have made his father …READ THE FULL REPORTWatch: DC’s ‘Black Lives Matter Plaza’ Is DismantledThe controversial Black Lives Matter Plaza, a two-block stretch of 16th Street NW near the White House, is being dismantled after more than four years as a symbol of left-wing activism in the nation’s capital. The move follows pressure from Republican lawmakers who sought to strip federal funding from D.C. unless the area was renamed.Construction crews arrived early Monday to …READ THE FULL REPORTAOC and Anna Paulina Luna Team Up for Bill That Aims to Make a Trump Campaign Promise Come TrueLegislators from the right and left have introduced legislation that would make one of President Donald Trump’s campaign promises come true.“We’re going to put a temporary cap on credit card interest rates. We’re going to cap it around 10 percent. We can’t let them make 25 and 30 percent,” Trump said during the campaign, according to WSAZ-TV.Democratic Rep. Alexandria Ocasio-Cortez …READ THE FULL REPORTMichelle Obama Discusses ‘Divorce’ Topic in New Podcast Amid Rumors About Her MarriageMichelle Obama is launching a new podcast with her brother, Craig Robinson.The new venture, the “IMO” podcast, was launched by Higher Ground, the Obamas’ media company.“My brother Craig and I launched the IMO podcast to create a space for people to come as they are, ask honest questions, give their opinions, and have thoughtful conversations about life,” Michelle Obama said.The …READ THE FULL REPORTVIEW MORE NEWS

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

If Europe Seizes Russian FX Reserves, It Would Immediately Reset The Global Financial System

Tuesday, Mar 11, 2025 – 10:05 AM

By Michael Every of Rabobank

Resetting expectations

Yesterday saw the Nikkei -2.2%, the Dax -1.7%, the S&P -2.7%, and the Nasdaq –3.8%, while the US Treasury 10-year yield the White House is now focused on was -5bp to 4.16%. As the headlines put it, markets were “swooning”, first on China drifting back to deflation, then on President Trump’s comments that refused to rule out a US recession. Frankly, that commentary managed to be both very shallow and deeply myopic at the same time.

China is “struggling” with deflation due to mercantilism. An economy that ‘must’ grow at 5%, and via more supply, not demand, necessarily makes too much, exports it, and… dominates global supply chains. Many Western economies could do with that right now – as Trump implied.

He made clear he wants to reset the US, and by extension, global economy: “I hate to predict things like [a recession]. There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing. And there are always periods of – it takes a little time… But I think it should be great for us… What I have to do is build a strong country… You can’t really watch the stock market. If you look at China, they have a 100-year perspective. We go by quarters. And you can’t go by that. You have to do what’s right.” Vice-President Vance put the same thing another way: “President Trump’s economic policies are simple: if you invest in and create jobs in America, you’ll be rewarded. We’ll lower regulations and reduce taxes. But if you build outside of the US, you’re on your own.”

Markets, which presumed Trump 2 would retain Trump 1’s monomania for stocks, just want what’s right for them. However, anyone who thought shifting the US to production-based mercantilism from asset-based financialisation via economic statecraft over economic policy could be done without assets falling didn’t understand either ‘ism’, or statecraft. Hence the sell-off.

Of course, this attempted US reset could go horribly wrong; or right. Either way, markets will be dragged along behind it.

We are also seeing a matching US global foreign policy reset via political statecraft:

The US and Ukraine are to meet in Saudi Arabia today to discuss ending that war, as Senator Graham threatens to sanction Russia aggressively if they don’t come to the table; the US wants a deal, not war between Israel and Hamas, and it, not Israel, is now seen in charge of hostage negotiations and the end game; the US is also getting tougher on Iranian oil, as the Houthis reportedly get ready to attack things again; Trump seems set for a June ‘two birthdays’ summit with China’s Xi despite the escalating trade war; and the FT’s Gideon Rachman claims Trump is “Making Europe Great Again” after decrying all the actions that led to that outcome.

Again, this attempted US reset could go horribly wrong; or right. Either way, markets will be dragged along behind it. So, do try to keep up.

Moscow is now blaming the UK for instigating global wars – a Russian obsession and a good way not to blame the US, helping build détente, perhaps. However, that flatters the UK as much as recent comparisons between PM Starmer and Churchill. The looming UK Strategic Defence Review (SDR) reportedly states the military is so weak after 25 years of hollowing out that it will take ten years to become “match fit”, and require “much more” investment, and “industrial policy” to onshore production, tech, and jobs, as well as a recommendation this is done without the US.

Oddly for military thinkers, the SDR seems to assume an economics-style static backdrop when it will be dynamic and antagonistic. What if Russia, China, or even the US make the UK’s “industrial policy” or military decoupling more difficult and expensive via grey-zone sabotage, supply chain ‘shocks’, or economic statecraft countermeasures? At the very least, anyone thinking “much more” investment was covered by the recent policy shift away from foreign aid to defence spending, or that this is going to take only ten years, or that the government has a shovel-ready plan for military protectionism to allow it to happen is likely mistaken.

The same applies to Europe: will the new “four-year” loosening of the EU’s Stability and Growth Pact, or the 1.5 percentage points of GDP, be all we get as it rearms? Half a Euro tank or a Euro combat aircraft to replace US systems like the F-35 for fear of built-in ‘kill switches’ –so requiring even more complex new supply chains to be built from scratch, and economies of scale, i.e., larger orders, to make it affordable– is no use to Europe at all.   

Meanwhile, geopolitics is ‘even’ seen in central banks’ hallowed halls – as anyone who’s read their history knows is actually line 1, page 1, chapter 1.

In the US, the Fed is now in blackout mode ahead of its meeting next week – but what will it say if markets keep falling even if as recently as Friday the US economy was seen as “fine” by Fed Chair Powell?  

In Europe, Politico notes ECB Governing Council’s Kazaks has become the first member to say that seizing €200bn of Russia’s FX reserves to help Ukraine is a “viable option,” with other Baltic central bank officials reportedly privately endorsing the same, and pressure maybe building to act. ECB President Lagarde is still opposed for now, but recognzses it will ultimately come down to politicians, who face a huge rearmament bill, not central bankers: and that’s a dynamic central bankers need to get used to going forwards.

Were this to occur it would be the most radical European economic statecraft step in that area since WW2. It would shatter EU assertions of their defence of the ‘rules-based order’, or unilaterally rewrite them, reduce the attractiveness of the Euro as a global reserve currency just as the same is being said of the US dollar in some quarters, and could even have an impact on the holding of Eurozone government bonds by key Global South asset holders. And what if the US opposed the move, bringing US-EU financial tensions onto the table alongside trade, geopolitical, and military?

In short, seizing Russia’s FX reserves would prompt urgent discussions about a reset of the global financial system, and its bifurcation.

That’s where a lot of what has been discussed in this Daily logically ends up, if you look through the “markets swoon” headlines. Time to reset your own expectations accordingly?

7.OIL AND NATURAL GAS ISSUES/GLOBAL/ENERGY/

BP Boss Defends Fossil Fuel U-Tur

Monday, Mar 10, 2025 – 01:45 PM

Via OilPrice.com,

BP boss Murray Auchincloss has defended the company’s move to increase fossil fuel production and ditch its renewable energy commitments.

Auchincloss is under mounting pressure from BP investors, who are frustrated at the oil major’s underperforming share price.

The executive unveiled plans for a “fundamental reset” two weeks ago, which included ditching a series of green energy targets set out five years ago.

Writing in the Times, he said “unravelling” the pledges had been well received by investors.

“From the many conversations I have been having, our new direction is resonating with shareholders… Most of the questions to me are about how quickly we can deliver,” he said.

BP’s reset will see oil and gas production increase to between 2.3m and 2.5m barrels of oil equivalent per day by 2030. It will also raise spending by around 20 per cent to $10bn (£7.8bn) per year.

The change marks a major U-turn from a prior target of reducing output by around a quarter, from 2019 to 2m barrels per day.

“Our optimism in 2020 for a fast energy transition was misplaced and we went too far, too fast in our plans,” Auchincloss wrote on Monday.

Shares in BP are down around 11 per cent over the last year and have underperformed by comparison to rivals Shell and ExxonMobil.

The pressure on Auchincloss, 54, who replaced disgraced former boss Bernard Looney in 2020, has been intense.

Notorious stakeholder Elliot Investment Management, the New York-based hedge fund led by P

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

CANADA

WAR!!!

Trump Retaliates Against Ontario’s “Electricity” Tariff, Threatens To “Permanently Shutdown” Canadian Carmakers, Pushes 51st State Idea

by Tyler Durden

Just when you thought it was safe to dip your toe back in the growth-challenged markets, President Trump took to Truth Social and unleashed a retaliatory strike against Canada (more specifcally Ontario) for its ongoing tariffs (and electricity price hike)… (emphasis ours)

Based on Ontario, Canada, placing a 25% Tariff on “Electricity” coming into the United States, I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD. 

This will go into effect TOMORROW MORNING, March 12th. 

Also, Canada must immediately drop their Anti-American Farmer Tariff of 250% to 390% on various U.S. dairy products, which has long been considered outrageous. I will shortly be declaring a National Emergency on Electricity within the threatened area. This will allow the U.S to quickly do what has to be done to alleviate this abusive threat from Canada. 

If other egregious, long time Tariffs are not likewise dropped by Canada, I will substantially increase, on April 2nd, the Tariffs on Cars coming into the U.S. which will, essentially, permanently shut down the automobile manufacturing business in Canada. 

Those cars can easily be made in the USA! 

The result is that the Canadian dollar dumped…

And US stocks gave up some their early gains.

It’s different this time.. for now…

Trump then diverted back to his previous comments on making Canada America’s 51st State:

Also, Canada pays very little for National Security, relying on the United States for military protection. 

We are subsidizing Canada to the tune of more than 200 Billion Dollars a year. WHY??? This cannot continue. 

The only thing that makes sense is for Canada to become our cherished Fifty First State. 

This would make all Tariffs, and everything else, totally disappear. 

Canadians taxes will be very substantially reduced, they will be more secure, militarily and otherwise, than ever before, there would no longer be a Northern Border problem, and the greatest and most powerful nation in the World will be bigger, better and stronger than ever — And Canada will be a big part of that. 

The artificial line of separation drawn many years ago will finally disappear, and we will have the safest and most beautiful Nation anywhere in the World — And your brilliant anthem, “O Canada,” will continue to play, but now representing a GREAT and POWERFUL STATE within the greatest Nation that the World has ever seen!

We are sure Mr Carney will bristle with Trump’s hurtful words.

*   *   * 

END

THEN:

Stocks Jump As Ontario Folds, Suspends Electricity Surcharge After Talk With White House

Tuesday, Mar 11, 2025 – 02:50 PM

Update (1445ET): After earlier responding to President Trump’s threats with more sound and fury:

“I want to send more electricity” to the US, Ford said during an interview with CNBC, but cutting off power exports remains “a tool in our toolkit.” 

Ontario Premier Doug Ford just folded like a broken deckchair and agreed to suspend its surcharge of 25% on exports of electricity to Michigan, New York and Minnesota, Ontario Premier Doug Ford says in a post on X.

Today, United States Secretary of Commerce and Premier of Ontario Doug Ford had a productive conversation about the economic relationship between the United States and Canada.

Secretary Lutnick agreed to officially meet with Premier Ford in Washington on Thursday, March 13 alongside the United States Trade Representative to discuss a renewed USMCA ahead of the April 2 reciprocal tariff deadline.

In response, Ontario agreed to suspend its 25 per cent surcharge on exports of electricity to Michigan, New York and Minnesota.

As a reminder, this was not earth-shattering as Minnesota and Michigan imported about 1% of its power from Canada in 2024, and less than half of that came from Ontario, according to the region’s grid operator, Midcontinent Independent System Operator. New York imported about 4.4% of its total electricity from the country in 2023, according to Bloomberg calculations.

The response in market was immediate with stocks ramping to the highs of the day…

*   *   * 

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

EURO VS USA DOLLAR:  1.0904 UP 65 BASIS PTS

USA/ YEN 147.63 UP 0.547 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 1.2922 UP 0.0048 OR 48 PTS

USA/CAN DOLLAR:  1.4400 DOWN 0.0026(CDN DOLLAR UP 26 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED UP 13.67 PTS OR 0.41%

 Hang Seng CLOSED DOWN 235.16 PTS OR 0.64%

AUSTRALIA CLOSED DOWN 0.91%

 // EUROPEAN BOURSE:     ALL MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL MIXED

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 135.01 PTS OR 0.64%

/SHANGHAI CLOSED UP 13.67 PTS OR 0.41%

AUSTRALIA BOURSE CLOSED DOWN 0.91%

(Nikkei (Japan) CLOSED DOWN 235.16 PTS OR 0.64%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2912.50

silver:$32.54

USA dollar index early TUESDAY  morning: 103.43 DOWN 53 BASIS POINTS FROM  MONDAY’s CLOSE.

MONDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.367 % UP 3 in basis point(s) yield

JAPANESE BOND YIELD: +1.498% DOWN 4 FULL POINTS AND 7/100  BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.495 UP 4 in basis points yield

ITALIAN 10 YR BOND YIELD 3.925 UP 5 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.8720 UP 8 BASIS PTS

IMPORTANT CURRENCY CLOSES :  MID DAY TUESDAY

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

Euro/USA 1.0910 UP .0070 OR 70 basis points

USA/Japan: 147.50 UP 0.412 OR YEN IS DOWN 41 BASIS PTS//

Great Britain 10 YR RATE 4.7310 UP 4 BASIS POINTS //

Canadian dollar DOWN .0067 OR 67 BASIS pts  to 1.4493

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan UP T0 7.2273,  CNY ON SHORE ..CHINA MUST DEVALUE TO GOLD  

THE USA/YUAN OFFSHORE UP TO 7.2299:    

TURKISH LIRA:  36.59 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +1.4980

Your closing 10 yr US bond yield DOWN 2 in basis points from MONDAY at  4.207% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.551 UP 1 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.893 DOWN 2 BASIS PTS.

GOLD AT 11;00 AM 2915.60

SILVER AT 11;00: 32.75

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 DOWN 104.23 pts or 1.23%

GERMAN DAX: DOWN 292.18 PTS OR 1.29%

Paris CAC CLOSED DOWN 105.69 or 1.31%

Spain IBEX CLOSED UP 205.40 PTS OR 1.57%

Italian MIB: CLOSED DOWN 527.51PTS OR 1.38%

WTI Oil price  66.93 11 EST/

Brent Oil:  70.01 1:00 EST

USA /RUSSIAN ROUBLE ///   AT:  85.38 ROUBLE UP 2 AND  25/ 100      

GERMAN 10 YR BOND YIELD; +2.8720 UP 5 BASIS PTS.

UK 10 YR YIELD: 4.7310 UP 9 BASIS POINTS

CDN 10 YEAR RATE: 2.966 DOWN 2 BASIS PTS.

CDN 5 YEAR RATE: 2.601 DOWN 4 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0929 UP 0.0090 OR 90 BASIS POINTS//HEADING TO PARITY WITH THE DOLLAR

British Pound: 1.2962 UP .0087 OR 87 basis pts/HEADING FOR PARITY /USA

BRITISH 10 YR GILT BOND YIELD:  4.7335 UP 6 BASIS PTS//

JAPAN 10 YR YIELD: 1.494

USA dollar vs Japanese Yen: 147.64 UP .572 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.4400 DOWN 0.0026 BASIS PTS CDN DOLLAR UP 26 BASIS PTS

West Texas intermediate oil: 66.44

Brent OIL:  69.78

USA 10 yr bond yield UP 6 BASIS pts to 4.275

USA 30 yr bond yield UP 4 BASIS PTS to 4.595%

USA 2 YR BOND: UP 4 PTS AT  3.935

CDN 10 YR RATE 3.033 UP 3 BASIS PTS

CDN 5 YEAR RATE: 2.658 UP 1 BASIS PTS

USA dollar index: 103.26 DOWN 70 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 36.60 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  85.63 UP 2 AND  00/100 roubles

GOLD  2920.50 (3:30 PM)

SILVER: 32.91 (3:30 PM)

DOW JONES INDUSTRIAL AVERAGE: DOWN 478.84 OR 1.14

NASDAQ 100 DOWN 55.22 PTS OR 0.28%

VOLATILITY INDEX: 26.91 PTS OR 3.41%

GLD: $ 269.16 OR UP 3.12 PTS OR 1.17%

SLV/ $29.96 PTS OR UP .85 OR 2.92%

TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 132.51 OR 0.56%

end

TRADING today ZEROHEDGE/J

ZEROHEDGE/HEADLINE CLOSING MARKETS/ZEROHEDGE

‘“Selloff Doesn’t Concern Me” – Market Chaos Continues As Trump Touts Tariffs & Truces

USA DATA

Goldilocks JOLT Shows Unexpected Increase In Jobs Openings, Hires And Quits

Tuesday, Mar 11, 2025 – 10:58 AM

One month ago when the December JOLTS report came out, we were surprised to see just how bad the jobs market was in the first month of the Trump admin (as 556K job openings unexpectedly disappeared), a shocking contrast to the stellar labor market under Trump’s senile and dementia-addled predecessor. If anything, it was the clear early signal that a recession (or “detox” in the words of Bessent) was coming to the US, something we flagged at the time, and which has since been confirmed by both the president and the market, and sent stocks tumbling.

Perhaps tumbling a bit too much, though, because according to the latest JOLTS report published moments ago, job openings in the US rose by 232K to 7.740 million from a downward revised 7.508 million, a big beat to consensus estimates of an unchanged print of 7.6 million January job openings. Still, the number was down by 728,000 over the past year

According to the BLS, the number of job openings increased in real estate and rental and leasing (+46,000); job openings also jumped in Trade and transportation (+149K), Financial Activities (122K), Construction (+31K), Manufacturing (+31K). Job openings declined for professional and business services (down 122K) and Leisure and Hospitality (down 46k).

Yet there is a reason to doubt this particular set of numbers – just as there was reason to doubt every set of numbers from Biden – because according to the January report, the number of Federal Government job openings was essentially flat both sequentially and YoY.

In  the context of the broader jobs report, in November the number of job openings was only 714K more than the number of unemployed workers (which the BLS reported was 6.886 million), down from last month’s 1.03 million and one of the lowest differentials since the covid crash.

Said otherwise, in January the number of job openings to unemployed rose modestly to 1.1, the highest since last May if on the low end of the pre-covid range in 2018-2019.

While the job openings data was an upside surprise and a modest reversal of last month’s surprise plunge, what was perhaps even more surprising is that at a time when the labor market is reportedly slowing fast, both the number of hires and quits picked up. To wit, in January, hires rose by about 19K to 5.393 million, while the number of quits soared by 171K to 3.266 million from 3.095 million, a solid glimmer of hope in a labor force as more are once again optimistic they can find a higher paying job elsewhere, and so they quit.

So how to make sense of this sudden collapse in the labor market? Well, it’s possible that after “shocking” the market last month when we saw the biggest drop in job openings in over a year, Trump got the tap on the shoulder that the US market should probably not collapse under his watch, even if he can (still) blame Biden, and so he sent a memo to the BLS to make sure that the numbers aren’t in freefall, but dropping more gradually. Then again, with markets now focused almost exclusively on the global trade wars which they are convinced (at least for now) will be far more negative for the US than anyone else, no amount of pig lipstick on hard data will offset the fact that the global trade war has become the Elephant Bear in the china shop, and until there is some clarity on that front expect most if not all rallies to be sold.

USA ECONOMIC NEWS/USA

InfoWars Reporter “Brutally Murdered” Outside Austin Residence

Monday, Mar 10, 2025 – 08:45 PM

InfoWars reporter Jamie White has died in what host Alex Jones says was a ‘brutal murder‘ which occurred around midnight outside of his Austin apartment.

At 11:57 p.m., Austin PD responded to a call in the 2300 block of Douglas Street – finding a white male victim with “obvious signs of trauma,” according to APD Public Information Officer Leah Ratliff. White was transported to a local hospital where he died shortly after arrival.

According to Ratliff, “This is pretty early on in the investigation, and the homicide unit will be releasing more information as they’re able.”

According to Jones, staff at InfoWars grew concerned after White did not show up to work on Monday.

“We sent some people over this morning when he didn’t answer the phone because he’s always here early, loves to work, loves to fight tyranny, loves to promote freedom,” adding “He passed away at the hospital very soon after they got him there.”

“Jamie was our best writer,” Jones said.

https://twitter.com/i/status/1899235723083157614

https://twitter.com/i/status/1899266029202591993

Our deepest condolences to the InfoWars family.

END

Judge Declines Bid To Force Federal Government To Restore Canceled Foreign Aid Contracts

Tuesday, Mar 11, 2025 – 01:05 PM

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

A federal judge on March 10 declined to compel President Donald Trump’s administration to restore foreign assistance contracts that it had canceled.

U.S. District Judge Amir Ali said that Trump’s administration must spend money allocated by Congress on foreign aid, but that it is up to the Executive Branch as to which projects it funds with the money.

“The separation of powers dictates only that the Executive follow Congress’s decision to spend funds, and both the Constitution and Congress’s laws have traditionally afforded the Executive discretion on how to spend within the constraints set by Congress,” Ali said in a 48-page ruling.

“The appropriate remedy is accordingly to order Defendants to ’make available for obligation the full amount of funds Congress appropriated’ under the relevant laws.”

Officials have canceled about 9,900 of the 13,100 USAID and State Department agreements, according to court filings. Secretary of State Marco Rubio said on social media this week that the canceled contracts “did not serve, (and in some cases even harmed), the core national interests of the United States.”

The ruling came in response to a lawsuit from organizations that had agreements with the State Department and the U.S. Agency for International Development (USAID) when Trump paused foreign aid spending to let the State Department review agreements to make sure they furthered his agenda.

After Ali previously ruled that USAID and the State Department must fund contracts that predated the Trump administration but were paused under the freeze, the U.S. Supreme Court directed the judge to clarify which obligations the government must meet to comply with his order.

Ali set a March 10 deadline to issue payments to the organizations, while promising further instructions concerning groups that are not parties in the case.

In the new ruling, Ali said that the Executive Branch unlawfully impounded congressionally appropriated foreign aid funds and ordered the Trump administration to pay committed funds for work completed before Feb. 13.

The administration must pay nearly $2 billion in total, issuing around 300 payments a day until the organizations that had agreements with the government are recompensed for their work, the judge said.

Ali said that he concluded that government lawyers defending the withholding of foreign assistance funds, which were allocated by Congress, “offer an unbridled view of Executive power that the Supreme Court has consistently rejected—a view that flouts multiple statutes whose constitutionality is not in question.”

However, he also said that courts are restrained in the relief they can offer in such disputes.

“The Court must be careful that any relief it grants does not itself intrude on the prerogative of a coordinate branch,” he said. “The Court accordingly denies Plaintiffs’ proposed relief that would unnecessarily entangle the Court in supervision of discrete or ongoing Executive decisions, as well as relief that goes beyond what their claims allow.”

END

VICTOR DAVIS HANSON

USA/PERVASIVE ANTISEMITISM

Judge temporarily blocks deportation of arrested pro-Palestinian student at Columbia

US District Court Judge Jesse Furman put a hold on the deportation “unless and until the Court orders otherwise.”

By REUTERSMARCH 9, 2025 19:42Updated: MARCH 11, 2025 01:34

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fdiaspora%2Fantisemitism%2Farticle-845355&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

A US judge on Monday ordered that Palestinian Columbia student Mahmoud Khalil not be deported for now as part of US President Donald Trump’s crackdown on some anti-Israel protesters and set a court hearing in the case for Wednesday.

Trump had said on Monday that the arrest of Khalil, who has played a prominent role in pro-Palestinian protests at New York’s Columbia University, will be followed by others.

“This is the first arrest of many to come. We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it. Many are not students. They are paid agitators. We will find, apprehend, and deport these terrorist sympathizers from our country — never to return again,” Trump said in a post on Truth Social.

On Sunday, Trump’s administration arrested a Palestinian graduate student who played a prominent role in last year’s pro-Palestinian protests at New York’s Columbia University.

“On March 9, 2025, in support of President Trump’s executive orders prohibiting anti-Semitism, and in coordination with the Department of State,  US Immigration and Customs Enforcement arrested Mahmoud Khalil, a former Columbia University graduate student. Khalil led activities aligned to Hamas, a designated terrorist organization,” DHS spokesperson, Tricia McLaughlin said.

“ICE and the Department of State are committed to enforcing President Trump’s executive orders and to protecting US national security.”

The student, Mahmoud Khalil, at the university’s School of International and Public Affairs, was arrested by US Department of Homeland Security agents at his university residence on Saturday, said undergraduate student Maryam Alwan and three other students who asked not to be identified, citing fears of reprisals.

Khalil has been one of the negotiators with school administrators on behalf of the pro-Palestinian student protesters, who set up a tent encampment on a Columbia lawn last year.

Khalil’s detention appears to be one of the first efforts by Trump, a Republican who returned to the White House in January, to fulfill his promise to seek the deportation of some foreign students involved in the pro-Palestinian protest movement. The October 7, 2023, Hamas attack on Israel and subsequent Israeli assault on Gaza led to months of pro-Palestinian protests that roiled US college campuses.

A spokesperson for Columbia said the school was barred by law from sharing information about individual students.

---

---

Spokespeople for the Department of Homeland Security and the Department of State, which oversees the country’s visa system, did not respond to questions.

In an interview with Reuters a few hours before his arrest on Saturday, Khalil said he was concerned that he was being targeted by the government and some conservative pro-Israel groups for speaking to the media.

Canceled contracts at Columbia

On Friday, the Trump administration said it had canceled government contracts and grants awarded to Columbia University worth about $400 million. The government said the cuts and the student deportation efforts are because of antisemitic harassment at and near Columbia’s Manhattan campus

VICTOR DAVIS HANSON

SWAMP STORIES

DNI Gabbard Revokes Security Clearances Of Dozens Of Former Officials, Including Blinken & Bragg

Monday, Mar 10, 2025 – 09:10 PM

Authored by Jackson Richman via The Epoch Times,

Director of National Intelligence Tulsi Gabbard announced on March 10 that she had revoked dozens of security clearances in accordance with President Donald Trump’s order.

Former Secretary of State Antony Blinken, New York Attorney General Letitia James, Manhattan District Attorney Alvin Bragg, and attorneys Mark Zaid, Andrew Weissman, and Norm Eisen were among those who lost clearances.

Gabbard also revoked the clearances of the 51 former U.S. intelligence officials who signed a letter alleging that the Hunter Biden laptop story had the “earmarks” of Russian disinformation. Former FBI employees testified to Congress in 2023 that the laptop was not disinformation.

In February, Trump wrote in a post on Truth Social that former President Joe Biden’s intelligence information would be “cut off immediately” and that his daily Intelligence briefings would stop.

The laptop was an issue in the 2020 presidential election, as critics said it contained information that could be negative about the former president’s son. He was later convicted of criminal tax and gun charges but was pardoned by his father shortly before the latter left the White House.

The October 2020 letter stated that “the arrival on the U.S. political scene of emails purportedly belonging to Vice President Biden’s son Hunter, much of it related to his time serving on the Board of the Ukrainian gas company Burisma, has all the classic earmarks of a Russian information operation.”

“We want to emphasize that we do not know if the emails provided to the New York Post by President Trump’s personal attorney Rudy Giuliani, are genuine or not and that we do not have evidence of Russian involvement–just that our experience makes us deeply suspicious that the Russian government played a significant role in this case.”

Trump took action on Jan. 20, the first day of his second term, to revoke the security clearances of 50 former government officials, including his former national security adviser, John Bolton.

“Federal policymakers must be able to rely on analysis conducted by the Intelligence Community and be confident that it is accurate, crafted with professionalism, and free from politically motivated engineering to affect political outcomes in the United States,” stated the presidential action.

“The signatories [of the letter] willfully weaponized the gravitas of the Intelligence Community to manipulate the political process and undermine our democratic institutions.”

KINGNEWS

The King Report March 11 Issue 7447

Independent View of the News

Japan’s benchmark (JGB) 10-year note hit 1.575%, the highest yield since 2008.  Japan’s 40-year bond closed at its highest yield ever, 2.891%.Carney says Canada’s tariffs to stay until US shows ‘respect’https://yahoo.trib.al/A8DlQB7ESHs sank early in Nikkei trading.  After hitting a low of 5710.00 at 19:03 ET, ESHs rallied on the usual Sunday night buying.  ESHs hit a daily high of 5757.75 at 00:21 ET.  They then rolled over and traded sideways until they broke down at 4:02 ET.  ESHs sank to 5703.25 at 4:54 ET.  A rapid rebound pushed ESHs to 5731.00 at 5:43 ET.  But sellers returned; ESHs sank to 5679.25 at 9:31 ET.The usual suspects, due to years of conditioning, bought the tumble on the NYSE opening.  ESHs popped to 5711.25 at 9:41 ET.  Sellers returned, ESHs sank to a new low of 5646.50 at 10:56 ET.  The manipulation for the European close drove ESHs to 5682.00 at 11:37 ET.  But relentless selling returned; ESHs tumbled, with only a few minor interruptions, to a new low of 5571.50 at 15:11 ET.The standard illegal late manipulation forced ESHs to 5640.50 at 15:35 ET, 69.00 points in 25 minutes.  ESHs then retreated to 5607.00 at 15:44 ET and traded sideways into the close.@Redfin: The median U.S. rent price rose 0.4% YoY to $1,607 in February—the first increase in six months. “A ton of new apartments have hit the market, and demand for those apartments is strong because it’s so expensive to buy a home,” says our economist. https://t.co/li04H9VsUuX was down for most of the day.  Elon Musk: “There was a massive cyber-attackto try and bring down Xwithip addresses originating in the Ukraine area.“You can imagine the media and Dem uproar if Kamala Harris had won and her top supporters’ businesses were picketed (by organized and paid protesters), vandalized, and abused.  And with the media inciting and tacitly approving such venal tactics.Positive aspects of previous sessionThe blatant and illegal late manipulation appeared.Negative aspects of previous sessionFangs got eviscerated.  The NY Fang+ Index tumbled as much as 6.0%Stocks got hammered; the technical damage was fatal to the bull market.All major US equity indices closed below their 200-DMAs.  (The DJIA only 11 points below)USHs rallied sharply on recession fears.Ambiguous aspects of previous sessionWho keeps doing the late illegal manipulation?  Inquiry minds want to know!First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: UpPivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5627.98Previous session S&P 500 Index High/Low: 5705.37; 5564.02Sec of State @marcorubio: After a 6-week review, we are officially cancelling 83% of the programs at USAID.  The 5200 contracts that are now cancelled spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States.    In consultation with Congress, we intend for the remaining 18% of programs we are keeping (~1000) to now be administered more effectively under the State Department.  Thank you to DOGE and our hardworking staff who worked very long hours to achieve this overdue and historic reform.@EYakoby: President Trump on Qatar’s role in funding terrorism: “The nation of Qatar, unfortunately, has historically been a funder of terrorism at a very high level. We have to stop the funding of terrorism. They have to end that funding and its extremist ideology in terms of funding.”https://x.com/EYakoby/status/1898851274264883417After the close, Delta tumbled 14% because DAL cuts its Q1 revenue forecast to .30-.50, .83 consensus.NY Fang+ Index and Bitcoin – The bubbles are bursting.Today – Percolating recession fears, fanned by Team Trump, has ended a long equity bull market and the Mag 7/Fang and crypto bubbles.  Wicked short covering rallies appear in bear markets.  However, the trend is down and there is NOTHING on the horizon to boost stocks.  The Fed is in a blackout ahead of its March 19 FOMC Meeting.Nevertheless, the usual suspects will try to affect a Turnaround Tuesday to the upside at some point today – especially if stocks are done sharply in the morning.ESHs are -21.75; NQHs are -154.75; and USHs are +7/32 at 20:15 ET.S&P Index 50-day MA: 5975; 100-day MA: 5953; 150-day MA: 5830; 200-day MA: 5735DJIA 50-day MA: 43,624; 100-day MA: 43,544; 150-day MA: 42,742; 200-day MA: 41,922(Green is positive slope; Red is negative slope)S&P 500 Index (5614.56 close) – BBG trading model Trender and MACD for key time framesMonthly: Trender and MACD are positive – a close below 5447.29 triggers a sell signalWeekly: Trender and MACD are negative – a close above 5920.77 triggers a buy signalDaily: Trender andMACD are negative – a close above 5920.77 triggers a buy signalHourly: Trender is negative;MACD is positive – a close above 5616.91 triggers a buy signal@libsoftiktok: Over 165 school employees have been arrested or sentenced so far in 2025 on charges relating to child sex crimes. We have a massive pedo crisis in our schools.@MaryMargOlohan: POTUS, aboard Air Force One per pool, tells reporters of Supreme Court Justice Amy Coney Barrett: “she’s a very good woman. She’s very smart, and I don’t know about people attacking her, I really don’t know. I think she’s a very good woman. She’s very smart.”@paulsperry_: Biden had secret arrangement w Sen. Warnock whereby Biden pumped 1000$ into his campaign & kept DOJ off his back for filing false disclosures in exchange for Warnock mobilizing black voters in GA & defending Biden post-debate. Biden aide Quentin Fulks helped broker deal.   No, @billmaher, “Republicans are not screaming at fellow Republicans” at congressional town halls. Those protesting are, in fact, Democrat astroturfers dispatched by radical Soros-funded Indivisible, which has ties to Obama’s Organizing for Action (OFA), an Alinsky training ground.Newsom’s ties to CCP under microscope in new book exposing alleged corruption: ‘Fleeced American citizens’ – a nonprofit organization initiative started by Newsom called ChinaSF that the book argues served as a gateway for CCP officials and Chinese criminals to exploit California…https://www.foxnews.com/politics/newsoms-ties-to-ccp-under-microscope-in-new-book-exposing-alleged-corruption-fleeced-american-citizens@libsoftiktok: Bernie Sanders had transgender singer Laura Jane Grace perform at his rally (Friday) singing “Does your God have a big fat d***” https://x.com/libsoftiktok/status/1898895797837549607    Bernie Sanders THANKED transgender singer Laura Jane Grace for his music after he performed a degenerate, disgusting, anti-Christian song about “Gods big fat d***”…https://x.com/libsoftiktok/status/1898946561352061410@robbystarbuck: I found the full video of the @BernieSanders rally performance of “Does your God have a big fat d***?” by transgender singer Laura Jane Grace and it’s somehow more evil than it sounds.The song specifically attacks Christianity with mentions of Easter and God’s son. Pure evil…https://t.co/JKQQ05SgmN

GREG HUNTER