GOLD CLOSED UP $22.10 TO $2937.50

SILVER CLOSED UP $0.57 CENTS TO $33

 GOLD ACCESS CLOSED 2933.00

Silver ACCESS CLOSED: $33.20

Bitcoin morning price:$82,708 DOWN 437 DOLLARS.

Bitcoin: afternoon price: $83,156 DOWN 3 DOLLARS

Platinum price closing UP $11.50 TO $988.90

Palladium price; UP $7.40 TO $954.15

END

*CANADIAN GOLD: $4216.00 UP 12.10 CDN dollars per oz( * NEW ALL TIME HIGH 4216.00 CDN DOLLARS PER OZ//MARCH 12 2025)

*BRITISH GOLD: 2261.50 UP 9.13 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING//2,339.25 BRITISH POUNDS/OZ) FEB 10/2025

*EURO GOLD: 2,692.20 UP 21.06 Euros per oz //* (ALL TIME CLOSING HIGH: 2,819,78UROS PER OZ/FEB 24 //2025)

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END

EXCHANGE: COMEX

CONTRACT: MARCH 2025 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,912.900000000 USD
INTENT DATE: 03/11/2025 DELIVERY DATE: 03/13/2025
FIRM ORG FIRM NAME ISSUED STOPPED

099 H DB AG 72
323 C HSBC 68
363 H WELLS FARGO SEC 21
624 H BOFA SECURITIES 4
661 C JP MORGAN 39
686 C STONEX FINANCIA 93 38
709 C BARCLAYS 1
726 C PLUS500US FINAN 1
905 C ADM 7

TOTAL: 172 172
MONTH TO DATE: 13,879

JPMORGAN stopped 39/172 contracts

GOLD: NUMBER OF NOTICES FILED FOR MARCH/2024. CONTRACT: 172 NOTICES FOR 17,200 OZ  0.4230 TONNES

total notices so far: 13,879 contracts for 1,387,900 Oz (43.1695 tonnes)

FOR MARCH

XXXXXXXXXXXXXXXXXX

SILVER NOTICES: 80 NOTICE(S) FILED FOR 0.400 MILLION OZ/

total number of notices filed so far this month : 13,348 for 66.740 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 $22.10 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD:

HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.9 TONNES

INVENTORY RESTS AT 895.20 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $.57 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.032 MILLION OZ OUT OF THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 435.318 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A HUMONGOUS SIZED 2481 CONTRACTS TO 155,203 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 WITH OUR STRONG GAN OF $0,60 IN SILVER PRICING AT THE COMEX WITH RESPECT TO TUESDAY’S TRADING. WE HAD A MEGA HUMONGOUS GAIN OF 2631 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE//MONDAY’S TRADING.. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS ON TUESDAY COMEX TRADING / AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST 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 FAILED ON TUESDAY WITH SILVER’S GAIN IN PRICE.  WE HAD A HUGE T.A.S. LIQUIDATION TUESDAY. BUT THIS WAS COUPLED WITH ANOTHER MEGA HUGE T.A.S. ISSUANCE OF 1165 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 FAIR 152 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR HUGE 1155 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN WEDNESDAY.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 2631 CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE. WE HAD CONSIDERABLE TAS LIQUIDATION THROUGHOUT TUESDAY’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 AND FAILING!.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON TUESDAY NIGHT/WEDNESDAY MORNING: A HUGE 1153 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 UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY  $0.60 AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A MEGA HUMONGOUS GAIN IN OUR TWO EXCHANGES OF 2631 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 152 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 0.76 MILLION OZ QUEUE JUMP TO WHICH WE ADD .350 EXCHANGE FOR RISK

INITIAL STANDING FOR MARCH ADVANCES TO 76.30 MILLION OZ (DATA IS CME CORRECTED AGAIN FROM YESTERDAY)

WE HAD:

/ HUMONGOUS COMEX OI GAIN+// A SMALL SIZED  EFP ISSUANCE/ VI)   HUMONGOUS SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 1153 CONTRACTS)/A 70 CONTRACT EX. FOR RISK FOR 350,000 OZ

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 245 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 8 DAYS, total 4625 contracts:   OR 23.115 MILLION OZ  (578 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  23.115 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: 23.115 MILLION OZ///

XXXXXXXXXXXXXXXXXXXXXXXXXXXX

RESULT: WE HAD A HUMONGOUS SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2481 CONTRACTS WITH OUR GAIN IN PRICE OF 60 CENTS IN SILVER PRICING AT THE COMEX// TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A FAIR 152 CONTRACT EFP ISSUANCE  CONTRACTS: 152 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 0.760 MILLION OZ QUEUE JUMP//NEW STANDING ADVANCES TO 75.950 MILLION OZ + .350 EX. FOR RISK//NEW TOTAL 76.300 MILLION OZ.

WE HAVE 1). A MEGA HUMONGOUS SIZED GAIN OF 2631 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR GAIN IN  PRICE// 2.THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS 1155 CONTRACTS TRYING DESPERATELY TO CONTAIN SILVER’S PRICE RISE,//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION. HOWEVER THEY STILL NEED THESE ISSUANCES FOR REPLENISHMENT FOR FUTURE TRADING //3. ZERO NET LONG SPECULATORS WERE BURNED ON TUESDAY WITH OUR GAIN IN PRICE. ALSO 4. SOME OF OUR LONGS EXERCISED THEIR CONTRACTS AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.

THE NEW TAS ISSUANCE TUESDAY NIGHT   (1155 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND MOST LIKELY TODAY.

WE HAD  80 NOTICE(S) FILED TODAY FOR 0.4000 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 6127 OI CONTRACTS  TO 511,276 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:  ADDED A STRONG SIZED 2109 CONTRACTS//

WE HAD A STRONG SIZED INCREASE  IN COMEX OI (6127 CONTRACTS) OCCURRED WITH OUR GAIN OF $21.20 IN PRICE TUESDAY. 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 17500 OZ QUEUE JUMP (0.5443 TONNES)//NEW STANDING ADVANCES TO 43.1726 TONNES

(DATA CME CORRECTED)

/NEW STANDING FOR MARCH; 43.1726 TONNES

/ ALL OF THIS HAPPENED WITH OUR $21.20 GAIN IN PRICE  WITH RESPECT TO TUESDAY’S COMEX ///. WE HAD A STRONG SIZED GAIN OF 7348 OI CONTRACTS (22.85 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 FAIR SIZED 1221 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 7348 CONTRACTS  WITH 6127 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1221 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 7348 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA MEGA HUGE SIZED AND CRIMINAL 33,214 CONTRACTS ISSUED.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1221 CONTRACTS) ACCOMPANYING THE GOOD SIZED INCREASE IN COMEX OI OF 6127 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 7348 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 0.5443 TONNES QUEUE JUMP.

//NEW STANDING ADVANCES TO 43.1726 TONNES 

NEW STANDING FOR MARCH ADVANCES TO:

43.1726 TONNES

//NEW STANDING MARCH: 43.1726 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)  $21.20 PRICE GAIN AND WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED AS WE HAD A STRONG GAIN OF 7348 CONTRACTS ON OUR TWO EXCHANGES ) ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED TUESDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL AND THUS OUR HUGE TONNAGE STANDING FOR GOLD IN MARCH

  4) GOOD SIZED COMEX OPEN INTEREST INCREASE 5)  FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///MEGA MEGA HUGE T.A.S.  ISSUANCE: 33,214 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: 14,860 CONTRACTS OF 1,486,000 OZ OR 46.220 TONNES IN 8 TRADING DAY(S) AND THUS AVERAGING: 1857 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 8 TRADING DAY(S) IN  TONNES  46.220 TONNES

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

THUS EFP TRANSFERS REPRESENTS  46.220 DIVIDED BY 3550 x 100% TONNES = 1.32% 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 46.220 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 2481 CONTRACTS OI  TO 155,508 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 152 CONTRACTS

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

MAY 152 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 152 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 2481 CONTRACTS AND ADD TO THE 152 E.FP. ISSUED

WE OBTAIN A MEGA HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2631  CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 14.380 MILLION OZ OCCURRED WITH OUR $0.60 GAIN  IN PRICE  

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS  WEDNESDAY MORNING//TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 7.90 PTS OR 0.23%

//Hang Seng CLOSED DOWN 181.83 PTS OR 0.76%

// Nikkei CLOSED UP 25.79 OR 0.07%//Australia’s all ordinaries CLOSED DOWN 1.24%

//Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2495 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2494/ Oil DOWN TO 66.86 dollars per barrel for WTI and BRENT DOWN TO 69.92 Stocks in Europe OPENED ALL GREEN

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

WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

END

END

ASIA TRADING WEDNESDAY MORNING/TUESDAY  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 6127 CONTRACTS TO 511,276 WITH OUR STRONG GAIN IN PRICE OF $21.20 WITH RESPECT TO TUESDAY’S TRADING/. WE LOST ZERO NET LONGS WITH THAT PRICE GAIN FOR GOLD. BUT AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1221 ).

THE CME ANNOUNCED TUESDAY 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 7348 CONTRACTS WITH OUR STRONG GAIN IN PRICE. OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON TUESDAY 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 OF MARCH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY TODAY INCLUDING WITH OUR HUMONGOUS T.A.S. ISSUANCES AND HUGE T.A.S. LIQUIDATION// MONDAY AND TUESDAY. THEY ISSUED ANOTHER MEGA MONSTER 33,214 CONTRACT ANNOUNCEMENT AS PROMISED!. 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 TUESDAY. YOU WILL PROBABLY SEE 2 MORE MONSTER ISSUANCES OF THESE T.A.S CONTRACTS ON THURSDAY AND FRIDAY AS THE BANKERS WIL PROBABLY CALL 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 FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A FAIR SIZED 1221 EFP CONTRACTS WERE ISSUED: :  /APRIL  1221 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1221 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 7348 CONTRACTS IN THAT 1121 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG GAIN OF 6127 COMEX  CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR STRONG GAIN IN PRICE OF $21.20 FOR TUESDAY/ COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AT THE COMEX AS MENTIONED  ABOVE.

T.A.S. ISSUANCE

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT/WEDNESDAY MORNING WAS ANOTHER MEGA MONSTER SIZED SIZED 33,214 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 PROBABLY 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 IN COMEX HISTORY THAT 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 (43.1726 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 : 43.1726 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: 43.1726 TONNES

COMEX GOLD TRADING/MARCH CONTRACT MONTH

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $21.20/)/AND 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 HUGE T.A.S. SPREADER LIQUIDATION TUESDAY 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/TUESDAY 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 TUESDAY EVENING/WEDNESDAY 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: 43.1726 TONNES

WE HAVE GAINED A STRONG SIZED TOTAL OF 22.85 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 17,500 OZ OR 0.5443 TONNES: NEW TOTAL STANDING 43.1726 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $21..20

WE HAD 2109 CONTRACTS ADDED TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL

NET GAIN ON THE TWO EXCHANGES 7348 CONTRACTS OR 734,800 0Z (22.85 TONNES)

confirmed volume TUESDAY 258,254 contracts: fair///

//speculators have left the gold arena

END

MARCH

// THE MARCH 2025 GOLD CONTRACT

MARCH 12

INITIAL

dealer deposits: 0

nil

xxxxxxxxxxxxxxxx

we have 1 customer deposits:

1 ENTRIES

1 entries

I) Into Brinks 64,302.000 oz (2000 kilobars)

total weight: 2 tonnes or 64,302.000 oz

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withdrawals: 2

i) Out of Loomis 32,151.000 oz (1000 kilobars)

ii) Out of Brinks 32.151 oz (1 kilobar)

total weight of withdrawals: 32,183.151 oz or 1001. kilobars

1.001 tonnes

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adjustments:1/comex is in chaos

a) dealer to customer JPMorgan: 385.812 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 GAIN OF 39 CONTRACTS TO STAND AT 223. WE HAD 136 CONTRACTS SERVED ON TUESDAY SO WE GAINED A CONSIDERABLE 175 CONTRACTS FOR 17,500 OZ (0.5443 TONNES AS A PHYSICAL GOLD QUEUE JUMP. THIS IS CENTRAL BANKS LOOKING FOR BADLY NEEDED GOLD.

APRIL HAD A LOSS OF 12,172 CONTRACTS DOWNTO 288,123 CONTRACTS AS THIS MONTH BECOMES THE FRONT MONTH. APRIL IS STILL QUITE LOFTY AND NO DOUBT WE WILL HAVE A HUMONGOUS AMOUNT OF GOLD STANDING FOR THE APRIL DELIVERY MONTH!

MAY GAINED 32 CONTRACTS UP TO 390.

We had 172 contracts filed for today representing 17,200oz  

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 172 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 39 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 (13,879 X 100 oz ) to which we add the difference between the open interest for the front month of  MARCH.(223 CONTRACTS)  minus the number of notices served upon today  (172 x 100 oz per contract) equals  1,388,000 OZ  OR 43.1726 TONNES

(DATA/CME CORRECTED FOR TODAY) 

thus the INITIAL standings for gold for the MARCH contract month:  No of notices filed so far (13,879x 100 oz +we add the difference for front month of MARCH (223 OI} minus the number of notices served upon today (172 x 100 oz) which equals  1,388,000 OR 43.1726 TONNES

TOTAL COMEX GOLD STANDING FOR MARCH.: 43.1726 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..

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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: 40,150,064.489 .oz  

TOTAL REGISTERED GOLD 19,779,764.410 or 616.23 tonnes

TOTAL OF ALL ELIGIBLE GOLD: 20,370,300.079 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 17,694,222oz (REG GOLD- PLEDGED GOLD)= 550.03 tonnes //

END

SILVER/COMEX

// THE MARCH 2025  SILVER CONTRACT//INITIAL

MARCH 12

INITIAL

//

i)  1 dealer  deposit/

1 entry

i) 334,995.000 oz Brinks dealer acct

total dealer; 334,995.000 oz

total dealer withdrawals: 0 oz

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deposits customer side

4 entries

i) Into ASAHI customer: 596,142.300 oz

ii) Into Brinks customer acct: 1076,527.194 oz oz

iii) Into CNT 979.700 oz

1v)Into JPMorgan customer acct 1,830,603.500 oz oz

total weight; 3,504,252.694 OZ

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withdrawals 2

2 entries::

i) Out of Brinks customer acct: 600,001.570 oz

ii) Out of Loomis: 578,728.781 oz

total weight: 1,178,730.351 oz

xxx

ADJUSTMENTs 4

first two customer to dealer:

a) JPMorgan: 10,007.821 oz

b) Brinks 15,006.730 o

then, 2 adj. customer to dealer;

c) Customer to dealer Delaware: 353,216.880 oz

d) Customer to dealer: ASAHI 353,216.880 oz

JPMorgan has a total silver weight: 174.100million oz/436.429 oz million  or 39.72%

TOTAL REGISTERED SILVER: 147.246 MILLION OZ//.TOTAL REG + ELIGIBLE. 436.429Million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR FEBRUARY

silver open interest data:

FRONT MONTH OF MARCH /2025 OI: 1922 OPEN INTEREST CONTRACTS FOR A LOSS OF 119 CONTRACTS.WE HAD 271 CONTRACTS SERVED ON TUESDAY SO WE GAINED 152 CONTRACTS OR 0.760 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/PRIOR FOR 350,000 OZ. THE BANK OF ENGLAND OR ANOTHER OFFICIAL ENTITY 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 195 CONTRACTS TO STAND AT 1957

MAY SAW A GAIN OF 1496 CONTRACTS UP TO 118,643 CONTRACTS

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

CONFIRMED volume; ON TUESDAY 64,861 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 13,879 X5,000 oz = 66.740 MILLION oz 

to which we add the difference between the open interest for the front month of MAR (1922) AND the number of notices served upon today (80 )x (5000 oz)

Thus the  standings for silver for the MARCH 2025 contract month:  (13,348) Notices served so far) x 5000 oz + OI for the front month of MAR(1922) minus number of notices served upon today (80)x 5000 oz equals silver standing for the MARCH contract month equating to 75.950 MILLION OZ. (DATA:CME CORRECTED) TO WHICH WE ADD .350 MILLION OZ EX FOR RISK//NEW TOTAL 76.30 MILLION OZ//

 New total standing:  76.30 million oz which is huge for this very active delivery month of March.(CME DATA CORRECTED)

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 12  WITH GOLD UP $22.10 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 3.90 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 895.20 TONNES

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: 895.20 TONNES, TONIGHTS TOTAL

SILVER

MARCH 12 WITH SILVER UP $0.57 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.032 MILLION OZ OUT OF THE THE SLV. //INVENTORY AT SLV RESTS AT 435.318 MILLION

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 435.318 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

Schiff: It’s Time For An Economic Reckoning

Wednesday, Mar 12, 2025 – 03:25 PM

Via SchiffGold.com,

In his recent appearance with Todd on the Sachs Realty Podcast, Peter Schiff paints a sobering picture of America’s current economic landscape, challenging mainstream narratives promoted by Wall Street and the Federal Reserve. Throughout the discussion, he covers alarming trends from unsustainable debt levels and hidden recessions to mounting inflation and misguided trade policies, warning listeners of consequences that policymakers will have to face sooner or later.

Starting with the political landscape, Peter argues that the underlying economic distress voters experience was a critical factor in Donald Trump’s political rise. While official narratives tout economic successes, Peter sees through the smoke and mirrors:

I think the economy is in a lot of trouble. I think that’s why Trump was elected. The voters are living in this economy, and despite what they’re being told by the media and Wall Street that we have a great economy, they know that’s not the case. They’re struggling to get by. Many people are working two or three jobs, whereas they used to be able to pay the bills with one. They can see prices rising rapidly for everything they need to buy as their debts are rising. People have their savings depleted. They’ve got record amounts of debt. The interest rates on that debt are much higher now than they’ve been in many, many years or decades. I think we’re a real mess. 

As for Trump’s economic policies, Peter finds some positive initiatives but strongly criticizes the administration’s expansionary fiscal policy and heavy reliance on budget deficits. He emphasizes the urgent need for fiscal responsibility—in actions, not just words:

Well, he’s done some things that I think are pretty good. But where I think he’s really failed is he has been encouraging the Republican Congress to pass this big, beautiful bill, which also includes a four trillion dollar increase in the debt ceiling and includes an increase in government spending so that the deficits that Trump inherited from Biden will be larger if the bill that he now supports is enacted. So I would much rather see the president telling Congress, ‘I don’t support that bill and if you pass it, I will veto it,’ because I don’t want to increase the debt ceiling. 

Peter also challenges Trump’s handling of trade, particularly his reliance on tariffs. Tariffs, he argues, act as hidden taxes ultimately paid by ordinary Americans, driving up prices and reducing purchasing power:

I don’t like all the tariff threats personally. I mean, tariffs are taxes. They’re taxes on the American people. The American people need to pay more taxes unless we’re going to cut spending because the government is spending a lot more than it’s collecting in taxes. So level with the public and say, ‘Look, we got to raise taxes because we’re spending too much money, and the way I’m going to raise taxes is tariffs, and it’s going to mean that everything you buy is going to be more expensive because of these tariffs.’ And that’s the reality. I don’t like trying to fool the public into believing they’re getting something for nothing. 

Moreover, Peter explains Trump’s misunderstanding of the trade deficit. Rather than foreign countries taking advantage of America, he clarifies that trade deficits can signal a domestic economy consuming beyond its means:

Trump mischaracterizes the current nature of the relationship. Trump believes that these trade deficits are the world taking advantage of America and that they’re somehow screwing us over, that they’re getting something for nothing. The opposite is true. We’re getting something for nothing because we get to consume more than we produce, we get to borrow more than we save, so our standard of living is higher today as a result of these trade deficits.

Peter asserts that America needs to confront its economic imbalances and unsustainable debt head-on rather than waiting for a crisis to force its hand. The looming threat is stagflation—rising inflation coupled with a recession—and Peter believes policymakers are vastly underprepared:

And the crisis is going to come because the numbers are exploding exponentially with our debt and our trade deficits and our budget deficits, and the interest on the debt is spiraling out of control. Inflation is already reaccelerating. It’s risen now four or five months in a row. If you annualize the last month now, CPI is up to about 6%. Consumers are catching on. Consumer expectations now of inflation are the highest they’ve been since 1982 at 6%. So the Fed is completely wrong when it says that inflation is resolved.

For more of Peter’s analysis of President Trump’s speech last week, check out his latest X Space.

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

Alasdair Macleod..

3. CHRIS POWELL AND DAILY GATA DISPATCHES

44 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 WEDNESDAY MORNING TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 7.90 PTS OR 0.23%

//Hang Seng CLOSED DOWN 181.83 PTS OR 0.76%

// Nikkei CLOSED UP 25.79 OR 0.07%//Australia’s all ordinaries CLOSED DOWN 1.24%

//Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2495 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2494/ Oil DOWN TO 66.86 dollars per barrel for WTI and BRENT DOWN TO 69.92 Stocks in Europe OPENED ALL GREEN

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

WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

END

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

ONSHORE YUAN:   CLOSED DOWN AT 7.2439

OFFSHORE YUAN: DOWN TO 7.2344

SHANGHAI CLOSED CLOSED DOWN 7.90 PTS OR 0.23%

HANG SENG CLOSED CLOSED DOWN 181.83 PTS OR 0.76%

2. Nikkei closed UP 25.78 OR 0.07%

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX UP TO  103.53// EURO RISES TO 1.0913 UP 1 BASIS PT HEADING TO PARITY WITH USA

3b Japan 10 YR bond yield: FALLS TO. +1.493//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 148.42…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

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

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

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.9065/Italian 10 Yr bond yield UP to 3.945 SPAIN 10 YR BOND YIELD UP TO 3.523

3i Greek 10 year bond yield UP TO 3.691

3j Gold at $2920.75 Silver at: 33.02  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 86 /100  roubles/dollar; ROUBLE AT 86.49

3m oil into the 66 dollar handle for WTI and  69 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 148.42 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.493 % 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 0.8825 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9632 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: 4.279 DOWN 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.596 DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD:  3.910 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 36.62…

10 YR UK BOND YIELD: 4.7400 UP 3 PTS

10 YR CANADA BOND YIELD: 3.006 DOWN 3 BASIS PTS

5 YR CANADA BOND YIELD: 2.641 DOWN 3 PTS.

2a New York OPENING REPORT

2b European Report

US equity futures higher & USD incrementally gains ahead of US CPI; JPY modestly lags – Newsquawk US Market Open

Wednesday, Mar 12, 2025 – 07:06 AM

• European bourses are in the green as sentiment in the complex improves; US futures are also higher with the NQ slightly outperforming.
• USD is a little firmer ahead of US CPI data, JPY lags peers.
• Bonds are bearish overall amid supply, inflation updates & German fiscal developments.
• Oil and base metals firmer, gold trades sideways ahead of US CPI.
• Looking ahead, US CPI, BoC & NBP Policy Announcements, OPEC MOMR, US 25% tariff on all imports of steel and aluminium come into effect, Speakers including RBA’s Jones, ECB’s Centeno, Nagel, Lane & BoC’s Macklem, Supply from the US, Earnings from Adobe.

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TARIFFS/TRADE

• US President Trump’s 25% tariffs on steel and aluminium took effect with no exemptions.
• US President Trump separately commented that tariffs are having and will have a tremendously positive impact, while he also suggested tariffs may go higher than 25% but did not specify which tariffs.
• Senior EU Official says confirms it is monitoring to see if Chinese steel overcapacity is re-routed to Europe, and “we stand ready to take measures where we need to take those measures”, via SCMP’s Birmingham. “We may indeed have to take further measures to deal with this indirect consequence of the US tariffs.”
• Canada’s Energy Minister said at CERAWeek that Canada may implement non-tariff measures such as restricting oil exports if the trade war with the US escalates and that ethanol is absolutely on the list of potential retaliatory tariffs being considered. Canada’s Energy Minister also said Canada will respond shortly if tariffs come into play and will wait and see on tariffs, as well as noted that Canada does not want to provoke or escalate and seeks a positive outcome.
• EU Commission launched countermeasures on US imports in which it will allow the suspension of existing 2018 and 2020 countermeasures against the US to lapse on April 1st, while it is putting forward a package of new countermeasures on US exports. Furthermore, it stated that EU countermeasures could apply to US goods exports worth up to EUR 26bln to match the economic scope of the US tariffs but added the EU remains ready to work with the US administration to find a negotiated solution.
• French European Affairs Minister Haddad says, on EU’s response to Trump tariffs, “we can go further”; reaffirms trade war is in no one’s interest. Thereafter, EU Commission President von der Leyen says countermeasures will match the scope of US tariffs and will be entirely in place by April 13th.
• UK Business and Trade Secretary Reynolds said it is disappointing the US has imposed global tariffs on steel and aluminium, while he stated that negotiations are ongoing for a wider economic agreement with the US to eliminate additional tariffs.
• Australian PM Albanese reiterated they will not impose reciprocal tariffs on the US and will continue to engage with the US on tariffs.

EUROPEAN TRADE

EQUITIES

• European bourses (STOXX 600 +0.8%) are stronger today, and sentiment in the complex improves following the hefty downside seen on Tuesday and as the region reacts to Ukraine ceasefire optimism.
• European sectors hold a strong positive bias; Construction & Materials tops the pile, whilst Retail is the clear laggard. The latter is pressured by post-earning losses in Inditex (-8.2%, slow start to Q1) and Puma (-24%, very weak 2025 outlook). In terms of key movers today; Zealand Pharma (+25%) opened higher by 45% after it secured a deal with Roche (+3%) to collaborate on obesity drugs; Novo Nordisk (-5%).
• US equity futures (ES +0.7%, NQ +0.8%, RTY +0.6%) are firmer, attempting to stabilise from some of the hefty pressure seen in recent weeks; the NQ is the very marginal outperformer, with the index benefiting from pre-market strength in Intel (+8%) after it was reported that TSMC pitched an Intel foundry JV to some US chip designers. US CPI due later today.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY spent much of the morning essentially flat, having pared overnight strength as the index initially attempted to make back some of the pressure seen on Tuesday. More recently, it has lifted towards the upper end of a 103.43-71 range. Focus has been on the trade front, whereby US President Trump’s 25% tariffs on steel and aluminium took effect with no exemptions, but did cancel 50% tariff on Canada. Furthermore, the EU Commission launched countermeasures on US imports with measures to come into force by April. Tariffs aside, US inflation data will be in focus.
• EUR is flat after trading lower in overnight trade, giving back some of the strength seen on the back of news Ukraine ceasefire optimism; currently at the upper end of a 1.0888-1.0923 range. As mentioned above, the EU Commission launched countermeasures on US imports; a senior EU Official suggested more measures may need to be taken place. In terms of EU-China; the Official said the bloc stands ready to take any measures in reference to re-routed Chinese steel, if it leads to overcapacity. In terms of monetary policy, a slew of ECB speakers have appeared at the ECB Watchers Conference, but their remarks had little impact on the Single-Currency.
• JPY is the clear underperformer today, with USD/JPY currently just off sessions highs at 148.65; further upside may see a test of the 149.00 mark, and then a recent high at 149.33 thereafter. Today saw commentary via BoJ Governor Ueda who said he is very worried about uncertainty regarding overseas economy and prices; he also noted that the BoJ is ready to conduct bond buying operation nimbly in exceptional cases, when long-term rates make irregular moves.
• GBP is essentially flat in what has been a quiet UK-specific session thus far; newsflow unlikely to pick up until Friday’s GDP figures. Cable currently at the mid-point of a 1.2914-56 range.
• Antipodeans are flat and trade rangebound, with a lack of pertinent newsflow for the region thus far; focus of course has been on trade developments (discussed above).
• CAD is steady vs. the USD after a choppy session in which the trade agenda dominated price action. To recap events, US President Trump backed down from his plans to double tariffs on Canadian steel and aluminium imports to 50%. This followed the decision by the Ontario Premier to suspend its electricity surcharge on the US. Nonetheless, 25% tariffs on Canadian steel and aluminium have gone ahead.
• PBoC set USD/CNY mid-point at 7.1696 vs exp. 7.2324 (Prev. 7.1741).
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are firmer by a handful of ticks, but do hold a downward bias, in tandem with peers. Currently trading at the bottom end of a 110-26+ to 111-02 range. Focus today has been on the Trump’s rollout of the 25% tariffs on steel and aluminium took effect with no exemptions; however, the President did rollback the 50% tariff on Canadian steel/aluminium after Ontario suspended the 25% energy surcharge. Ahead, traders will remain laser focused on the US inflation data; particularly in the context of some of the economic activity woes displayed by data in the past few weeks. Also today, USD 39bln worth of 10yr notes due.
• Bunds are in the red, albeit modestly so. Currently trading around the 127.00 mark, in a 126.69-127.14 range. From a yield perspective the German 10yr has topped 2.9%; as a reminder the upside over the past week is attributed to Germany’s defence spending plans. As for today the benchmark digests the inflationary implications of the EU tariff countermeasures on Trump’s metal tariffs; elsewhere, there has been a slew of ECB appearances, but with not one member sparking a significant move in German paper. ECB President Lagarde highlighted the need to set policy that it converges towards the 2% target. Ahead, markets await a few more ECB speakers as well as the Bank’s Wage Tracker.
• Gilts are a little lower, and to a similar magnitude as Bunds; UK-specific newsflow has been light, with the next update out of the region coming on Friday (GDP metrics). Currently in a very tight 91.66-91.90 range. Some modest pressure was seen following the 2035 Gilt auction; b/c was strong (though just shy of the 3x mark), whilst the yield tail was a little high.
• UK sells GBP 4bln 4.5% 2035 Gilt: b/c 2.92x, average yield 4.679%, and yield tail 0.5bps.
• Germany sells EUR 3.455bln vs exp. EUR 4.5bln 2.5% 2035 Bund: b/c 2.1x (prev. 2.8x), average yield 2.92% (prev. 2.52%) & retention 23.22% (prev. 22.8%)
• Click for a detailed summary

COMMODITIES

• Crude is firmer today, benefitting from the generally positive risk tone, and shrugging off overnight indecisiveness after the larger-than-expected build for headline crude. The overarching theme for the complex is the optimism surrounding a 30-day Ukraine ceasefire deal; Ukraine seem ready, whilst Russian sources suggests that “It is difficult for Putin to agree to this in its current form”. Brent’May 25 currently sits towards the upper end of a USD 70.33-69.80/bbl range.
• Spot gold is firmer by around USD 4.5/oz; the yellow-metal traded rangebound overnight, but did climb out of those confines in early European trade, to currently sits at session highs of USD 2925.34/oz.
• Base metals are entirely in the green, continuing to build on the prior day’s upside; the complex is seemingly unfazed by the recent tariff updates. On that, US President Trump’s 25% tariffs on steel and aluminium took effect with no exemptions and cancelled the 50% tariff on Canada, after Ontario’s decision to suspend the 25% energy surcharge. 3M LME copper current trades in a USD 9,646.40-9,748.95/t parameter.
• US Private Inventory Data (bbls): Crude +4.2mln (exp. +2.0mln), Distillate +0.4mln (exp. -0.8mln), Gasoline -4.6mln (exp. -1.9mln), Cushing -1.2mln.
• Kazakhstan has yet to deliver oil output and CPC blend crude export cuts in March, according to sources cited by Reuters.
• India’s Russian oil imports have recovered in March after a three-month decline following US sanctions, according to trading sources and shipping data cited by Reuters.
• Click for a detailed summary

NOTABLE DATA RECAP

• Spanish Retail Sales YY (Jan) 2.2% (Prev. 4.0%)

NOTABLE EUROPEAN HEADLINES

• Portugal’s Parliament rejected the motion of confidence in the centre-right government, causing its collapse.
• SEB, on the Norges Bank following hot February CPI, writes: “We are still leaning towards a March cut, absent any upside surprises in the Regional Network Report”.
• ECB’s Centeno says the EZ economy remains burdened by higher rates, according to WSJ.
• ECB President Lagarde says cannot ensure that inflation will always be at 2% but need to set policy so that it converges towards target. In the event of large shocks, risk grows that inflation becomes more persistent. Need to pay particular attention to anchoring inflation expectations. Cannot provide forward guidance but need to be clear about the reaction function.
• ECB’s Simkus says the direction of travel hasn’t changed, is irrational to commit on future rate decisions; will see if the ECB cuts or pauses in April

NOTABLE US HEADLINES

• US President Trump posted “The price of eggs have come down, interest rates have come down, gasoline prices have come down—It’s all coming down! We’re doing it the right way, and I have tremendous confidence in this Country and in the people of this Country…”, via Truth Social.
• US President Trump’s administration is considering cutting the size of the Justice Department’s public corruption unit.
• US Department of Education said it initiated a reduction in force impacting nearly 50% of the department’s workforce with impacted staff to be placed on administrative leave beginning March 21st.
• Elon Musk has signalled to President Trump’s advisers in recent days that he wants to put USD 100mln into groups controlled by the Trump political operation, according to NYT.
• US House passed the spending bill to avert a government shutdown and sent it to the Senate.
• Senior US Democrats believe a government shutdown would be a lose-lose scenario, they are exploring alternative strategies to prevent this perception while avoiding accusations of supporting the President, according to Punchbowl.

GEOPOLITICS

MIDDLE EAST

• US Secretary of State Rubio said the US welcomes an agreement between Syrian interim authorities and Syrian democratic forces to integrate northeast into unified Syria, while the US will continue to watch decisions made by interim authorities.

RUSSIA-UKRAINE

• Russia’s Kremlin says it expects US National Security Advisor Waltz and Secretary of State Rubio to brief it on details of talks with Ukraine in the coming days; a potential Russian President Putin and US President Trump call can be organised “very fast”. Need to hear from Waltz and Rubio before it will comment on whether it accepts the ceasefire proposal.
• Russian lawmaker stated that any potential ceasefire agreement in Ukraine will be under Moscow’s terms and not those set by Washington.
• Russia conducted an air strike on Ukraine’s capital of Kyiv, according to the Mayor. It was also reported that a Russian missile attack killed four people and damaged a grain vessel in Ukraine’s Black Sea port of Odesa, while Russian air defence units reportedly destroyed 21 Ukrainian drones overnight, according to Russian agencies.
• Ukrainian Foreign Minister says they are ready to establish a team for developing a roadmap aimed at achieving a ceasefire with Russia.

OTHER

• Russian, Chinese and Iranian ships practised artillery fire in the Gulf of Oman, according to Russian agencies.
• North Korea said a recent misfire by South Korean fighter jets during training shows an accident could trigger armed conflict on the Korean Peninsula and US-South Korean military drills can start the world’s first nuclear war, according to KCNA
• Chinese Foreign Ministry says China is to hold talks with Russia and Iran on the Iranian nuclear issue in Beijing on March 14th.

CRYPTO

• Bitcoin is a little firmer and sits comfortably above USD 82k; Ethereum remains below USD 2k.

APAC TRADE

• APAC stocks traded mixed following the choppy performance stateside where the focus was centred on tariff rhetoric and Ukraine ceasefire talks, while the US’s 25% tariffs on steel and aluminium took effect overnight.
• ASX 200 underperformed with firm losses in consumer discretionary, industrials and financials, while risk sentiment was also pressured after Australia failed in its efforts to get an exemption from looming tariffs.
• Nikkei 225 remained afloat but with price action choppy after mixed PPI and BSI Manufacturing data.
• Hang Seng and Shanghai Comp were ultimately mixed with the mood indecisive in both the mainland and Hong Kong amid light fresh catalysts although China’s securities regulator recently pledged to consolidate the momentum of market stabilisation.

NOTABLE ASIA-PAC HEADLINES

• BoJ Governor Ueda says very worried about uncertainty regarding overseas economy and prices; underlying inflation still remains below 2%; Ready to conduct bond buying operation nimbly in exceptional cases, when long-term rates make irregular moves.
• Hitachi (6501 JT), Toyota (7203 JT) and NEC (6701 JT) agreed to fully meet unions’ wage hike demands for 2025, while Nissan (7201 JT), Mitsubishi Electric (6503 JT), Honda (7267 JT), Nippon Steel (5401 JT) and Panasonic (6752 JT) agreed to average monthly wage increases below unions’ demands.
• Global Times tweets “China’s Ministry of Commerce and other departments summoned Walmart on Tuesday for reportedly requiring some of its Chinese suppliers to slash prices significantly in an attempt to shift the burden of the US tariffs on China“.
• Bank of Japan officials see several reasons against intervening in the bond market even after benchmark yields hit the highest level since 2008, Bloomberg sources say

DATA RECAP

• Japanese Corp Goods Price MM (Feb) 0.0% vs. Exp. -0.1% (Prev. 0.3%); YY (Feb) 4.0% vs. Exp. 4.0% (Prev. 4.2%)
• Japanese Business Survey Index (Q1) -2.4% (Prev. 6.3%)

2c) Asian Report

Choppy trade amid tariff updates & Ukraine ceasefire talks – Newsquawk Europe Market Open

Wednesday, Mar 12, 2025 – 02:50 AM

• APAC stocks traded mixed following the choppy performance stateside where the focus was centred on tariff rhetoric and Ukraine ceasefire talks.
• US President Trump’s 25% tariffs on steel and aluminium took effect with no exemptions; cancelled 50% tariff on Canada.
• Ukraine expressed readiness to accept the US proposal to enact an immediate and interim 30-day ceasefire.
• European equity futures indicate a positive cash market open with Euro Stoxx 50 future up 1.2% after the cash market closed with losses of 1.4% on Tuesday.
• FX markets are broadly contained, DXY  lingers around 103.50, EUR/USD is holding just above the 1.09 mark, JPY marginally lags.
• Looking ahead, highlights include ECB Wage Tracker, US CPI, BoC & NBP Policy Announcements, OPEC MOMR, RBA’s Jones, ECB’s Lagarde, Villeroy, Escrivá, Nagel, Lane & BoC’s Macklem, Supply from UK, Germany & US, Earnings from Adobe, Brenntag, Puma, Rheinmetall, Porsche & Inditex.

SNAPSHOT

Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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US TRADE

EQUITIES

• US stocks were choppy and most indices closed in the red albeit off their earlier lows in what was a headline-intensive day with the attention on President Trump’s tariff threats in which he initially instructed the Commerce Secretary to impose an additional 25% tariff, to 50%, on all steel and aluminium coming into the US from Canada from March 12th although he later backed down from this threat after Ontario’s Premier announced they are suspending the 25% surcharge on exports of electricity. Furthermore, there was a slight improvement in risk sentiment during the US afternoon following the joint US/Ukraine statement on a ceasefire proposal with Ukraine willing to accept a 30-day US-brokered ceasefire.
• SPX -0.76% at 5,572, NDX -0.28% at 19,377, DJI -1.14% at 41,433, RUT +0.22%.
• Click here for a detailed summary.

TARIFFS/TRADE

• US President Trump’s 25% tariffs on steel and aluminium took effect with no exemptions.
• US President Trump said he respects Ontario’s decision to suspend the 25% energy surcharge, while he said he was looking at backing down on the 50% duties on Canada and may back off doubling steel and aluminium Canada tariffs. Trump separately commented that tariffs are having and will have a tremendously positive impact, while he also suggested tariffs may go higher than 25% but did not specify which tariffs.
• US White House trade advisor Navarro said no 50% steel and aluminium tariffs on Canada tomorrow and that cooler heads prevailed with the Ontario Premier, according to CNBC.
• Ontario Premier Ford said they are suspending the 25% surcharge on exports of electricity and that US Commerce Secretary Lutnick agreed to meet with Ford on Thursday and will discuss a renewed USMCA ahead of the April 2nd deadline.
• Canadian PM-designate Carney said US President Trump’s escalation is an attack on the country’s workers and he will ensure its response has maximum impact in the US, while he reiterated that he would maintain tariffs on the US until Americans show them respect.
• Canadian Finance Minister spokesperson said if the US moves ahead with imposition of tariffs on March 12th, they will be ready to respond firmly and proportionately.
• Canada’s Energy Minister said at CERAWeek that Canada may implement non-tariff measures such as restricting oil exports if the trade war with the US escalates and that ethanol is absolutely on the list of potential retaliatory tariffs being considered. Canada’s Energy Minister also said Canada will respond shortly if tariffs come into play and will wait and see on tariffs, as well as noted that Canada does not want to provoke or escalate and seeks a positive outcome.
• EU Commission launched countermeasures on US imports in which it will allow the suspension of existing 2018 and 2020 countermeasures against the US to lapse on April 1st, while it is putting forward a package of new countermeasures on US exports. Furthermore, it stated that EU countermeasures could apply to US goods exports worth up to EUR 26bln to match the economic scope of the US tariffs but added the EU remains ready to work with the US administration to find a negotiated solution.
• UK Business and Trade Secretary Reynolds said it is disappointing the US has imposed global tariffs on steel and aluminium, while he stated that negotiations are ongoing for a wider economic agreement with the US to eliminate additional tariffs.
• Australian PM Albanese reiterated they will not impose reciprocal tariffs on the US and will continue to engage with the US on tariffs.
• Brazil asked the US to postpone the deadline for the 25% tariff on Brazilian steel and aluminium imports, which is scheduled to take effect this Wednesday, according to O Globo sources.

NOTABLE HEADLINES

• US President Trump said the US economy is going to ‘blow it away’ and said the US ‘had to do this’ referring to tariffs and have to get workers back and factories open, while he added markets are going to go up and down but have to rebuild the country. Trump also said he does not see a recession at all and the country is going to boom, while the market sell-off doesn’t concern him. Furthermore, he thinks “some people are going to make great deals by buying stocks and bonds and all the things they’re buying.”
• US President Trump posted “The price of eggs have come down, interest rates have come down, gasoline prices have come down—It’s all coming down! We’re doing it the right way, and I have tremendous confidence in this Country and in the people of this Country…”, via Truth Social.
• US President Trump’s administration is considering cutting the size of the Justice Department’s public corruption unit.
• US Department of Education said it initiated a reduction in force impacting nearly 50% of the department’s workforce with impacted staff to be placed on administrative leave beginning March 21st.
• Elon Musk has signalled to President Trump’s advisers in recent days that he wants to put USD 100mln into groups controlled by the Trump political operation, according to NYT.
• US House passed the spending bill to avert a government shutdown and sent it to the Senate.

APAC TRADE

EQUITIES

• APAC stocks traded mixed following the choppy performance stateside where the focus was centred on tariff rhetoric and Ukraine ceasefire talks, while the US’s 25% tariffs on steel and aluminium took effect overnight.
• ASX 200 underperformed with firm losses in consumer discretionary, industrials and financials, while risk sentiment was also pressured after Australia failed in its efforts to get an exemption from looming tariffs.
• Nikkei 225 remained afloat but with price action choppy after mixed PPI and BSI Manufacturing data.
• Hang Seng and Shanghai Comp were ultimately mixed with the mood indecisive in both the mainland and Hong Kong amid light fresh catalysts although China’s securities regulator recently pledged to consolidate the momentum of market stabilisation.
• US equity futures (ES +0.3%, NQ +0.4%) were marginally higher after rebounding from yesterday’s trough but with the recovery limited as participants now brace for the approaching US CPI data.
• European equity futures indicate a positive cash market open with Euro Stoxx 50 future up 1.2% after the cash market closed with losses of 1.4% on Tuesday.

FX

• DXY eked mild gains after weakening yesterday as EUR strength, growing trade tensions, and fears over the economy weighed with tariffs remaining a key focus as the US’s 25% tariffs on steel and aluminium took effect. Furthermore, President Trump backtracked on his threat to increase steel and aluminium tariffs on Canada to 50% after the Ontario Premier announced to suspend the 25% surcharge on exports of electricity to the US, while participants now await any further retaliatory announcements and US CPI data.
• EUR/USD trickled lower from a YTD peak after its recent outperformance but is holding above the 1.09 mark, while there was little reaction to the news that Portugal’s government collapsed following a no-confidence vote and neither from the European Commission’s announcement of measures to respond to the latest US tariffs.
• GBP/USD marginally eased back overnight after advancing the prior day on the back of the dollar weakness and amid light UK-specific catalysts.
• USD/JPY extended on gains and breached the 148.00 level to the upside after having been propelled by widening yield differentials.
• Antipodeans were uneventful amid the mostly subdued risk appetite and in the absence of any major data releases.
• PBoC set USD/CNY mid-point at 7.1696 vs exp. 7.2324 (Prev. 7.1741).

FIXED INCOME

• 10yr UST futures attempted to nurse some losses after slipping on mixed tariff messaging and Russia-Ukraine ceasefire hopes but with the recovery constrained by recent and looming supply.
• Bund futures rebounded from contract lows after suffering amid hopes of a German defence spending deal.
• 10yr JGB futures followed suit to the recent downside in peers as Japanese yields edged higher and with demand also contained after weaker results from the latest 20yr JGB auction.

COMMODITIES

• Crude futures were marginally higher but with gains capped following yesterday’s choppy performance and flimsy risk appetite, while the latest private sector inventory data was mixed which showed a larger-than-expected build for headline crude and a wider-than-forecast drawdown in gasoline stockpiles.
• US Private Inventory Data (bbls): Crude +4.2mln (exp. +2.0mln), Distillate +0.4mln (exp. -0.8mln), Gasoline -4.6mln (exp. -1.9mln), Cushing -1.2mln.
• EIA STEO stated EIA sees 2025 world oil demand of 104.1mln BPD (prev. 104.1mln BPD) and sees 2026 demand of 105.3mln BPD (prev. 105.2mln).
• Kazakhstan has yet to deliver oil output and CPC blend crude export cuts in March, according to sources cited by Reuters.
• Spot gold traded sideways and held on to the prior day’s spoils with the dollar steady as US CPI looms.
• Copper futures remained underpinned after the prior day’s resurgence and was unfazed by the recent tariff-related to and fro.

CRYPTO

• Bitcoin failed to sustain early gains and retreated to beneath the USD 82,000 level.

NOTABLE ASIA-PAC HEADLINES

• Hitachi (6501 JT), Toyota (7203 JT) and NEC (6701 JT) agreed to fully meet unions’ wage hike demands for 2025, while Nissan (7201 JT), Mitsubishi Electric (6503 JT), Honda (7267 JT), Nippon Steel (5401 JT) and Panasonic (6752 JT) agreed to average monthly wage increases below unions’ demands.

DATA RECAP

• Japanese Corp Goods Price MM (Feb) 0.0% vs. Exp. -0.1% (Prev. 0.3%)
• Japanese Corp Goods Price YY (Feb) 4.0% vs. Exp. 4.0% (Prev. 4.2%)
• Japanese Business Survey Index* (Q1) -2.4% (Prev. 6.3%)

GEOPOLITICS

MIDDLE EAST

• Yemen’s Houthis said they will resume blocking ships passing through the Red Sea, Arabian Sea, and Bab al-Mandab Strait after a four-day deadline to lift the Gaza aid blockade ended.
• Iran’s President said he won’t negotiate with US President Trump under threats and stated ‘do whatever the hell you want’, according to state media.
• US Secretary of State Rubio said the US welcomes an agreement between Syrian interim authorities and Syrian democratic forces to integrate northeast into unified Syria, while the US will continue to watch decisions made by interim authorities.

RUSSIA-UKRAINE

• US State Department said regarding the Jeddah meeting that the US and Ukraine took important steps toward restoring durable peace for Ukraine and Ukraine expressed readiness to accept the US proposal to enact an immediate and interim 30-day ceasefire. Furthermore, the US will immediately lift the pause on intelligence sharing and resume security assistance to Ukraine.
• US President Trump said regarding Ukraine that they now have to talk to Russia and hopefully Russian President Putin will agree on the plan, while he said they are going to meet with Russia later on today or tomorrow and would invite Zelensky back to the White House. Furthermore, Trump said he will talk to Russian President Putin, but added it takes “two to tango” and thinks he will talk with him this week, while he hopes to have a total ceasefire in the coming days.
• US Secretary of State Rubio said the ball is now in Russia’s court on Ukraine peace, while he added that Ukraine has taken a positive step and hopes Russians will reciprocate.
• US National Security Adviser Waltz said Ukraine has made concrete proposals and talks got into substantive details on how the Ukraine war will end, while he will speak to his Russian counterpart in the coming days.
• Ukrainian President Zelensky thanked the US team for constructive talks in Saudi Arabia and said the ceasefire proposal covers the frontline, not just air and sea exclusively.
• Ukrainian President Zelensky’s top aide said a ceasefire proposal will show if Russia wants peace or not and different options for security guarantees were discussed with the US.
• Russian lawmaker stated that any potential ceasefire agreement in Ukraine will be under Moscow’s terms and not those set by Washington.
• Russia conducted an air strike on Ukraine’s capital of Kyiv, according to the Mayor. It was also reported that a Russian missile attack killed four people and damaged a grain vessel in Ukraine’s Black Sea port of Odesa, while Russian air defence units reportedly destroyed 21 Ukrainian drones overnight, according to Russian agencies.
• Russia’s Foreign Ministry does not rule out contacts with US representatives over the next few days, according to RIA. It was earlier reported that the Russian Foreign Ministry said Ukraine’s drone attack on Russia was preplanned and was timed to coincide with US-Ukraine talks in Saudi Arabia, while it added that all countries that continue to pump Ukraine with weapons are to blame for this attack.

OTHER

• Russian, Chinese and Iranian ships practised artillery fire in the Gulf of Oman, according to Russian agencies.
• Polish Defence Minister said Poland is open to the French offer of extending the nuclear umbrella but needs details.
• North Korea said a recent misfire by South Korean fighter jets during training shows an accident could trigger armed conflict on the Korean Peninsula and US-South Korean military drills can start the world’s first nuclear war, according to KCNA

EU/UK

NOTABLE HEADLINES

• UK’s pension minister is in ‘active discussions’ with pension funds to invest more in private markets, according to FT.
• Portugal’s Parliament rejected the motion of confidence in the centre-right government, causing its collapse.

3 .ASIA

3A NORTH KOREA/SOUTH KOREA

3BJAPAN

3C. CHINA/

CHINA/USA

China Summons Walmart After Asking Suppliers To Absorb Trump’s Tariff Costs

Wednesday, Mar 12, 2025 – 07:45 AM

China’s Ministry of Commerce and other agencies summoned Walmart officials on Tuesday, days after a Bloomberg report indicated that the US big-box retailer had asked Chinese suppliers—including those producing clothing and kitchenware—to lower prices in response to tariff increases imposed by President Trump.

According to Yuyuantantian, a Weibo account affiliated with state-run China Central Television, officials from the Ministry of Commerce and other authorities in Beijing met with Walmart representatives to address reports about its price negotiations with domestic suppliers.

Walmart’s move to request lower prices from suppliers followed President Trump’s imposition of an additional 10% tariff on all Chinese products last month, which Beijing met with a tit-for-tat 15% tax on US agricultural goods.

“Walmart’s unilateral demand on Chinese firms to cut prices could lead to disruptions of supply chains and hurt the interests of firms and consumers from both countries,” Yuyuantantian wrote in a post, adding, “If Walmart insists on doing so, then what would happen next would be beyond talks.“

Late last week, Bloomberg revealed that the big-box retailer had asked Chinese suppliers, including those producing clothing and kitchenware, for price discounts. 

In a regular press briefing on Wednesday, a Chinese Foreign Ministry spokesperson could not confirm the meeting: “… on this issue, I refer you to relevant Chinese authorities,” without providing further details.

More color from Bloomberg: 

The move marks Beijing’s efforts to show strength as President Donald Trump targets China with consecutive rounds of trade tariffs.

… 

The stakes are high for Walmart. Unlike many global retail brands that have lost their historical dominance in China to local competition, Walmart has defied the country’s consumption slump with robust growth for its membership store Sam’s Club through the sale of premium cuts of meat and other high quality foods increasingly favored by China’s middle class.

Last week, US Treasury Secretary Scott Bessent downplayed the tariff war with China and other top trading partners, indicating: “With the China tariffs, I am highly confident that the Chinese manufacturers will eat the tariffs — prices won’t go up…” 

However, other big box retailers, from Target to Best Buy, have warned about tariff uncertainty and risks of higher prices plagued outlooks.

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EU

Nobody wins in a huge trade war

EU Retaliates After Trump Tariffs Take Effect, But UK Breaks With Europe And Refuses To Respond

Wednesday, Mar 12, 2025 – 10:19 AM

The EU has retaliated against Trump’s 25% tariffs on steel and aluminum just hours after  they took effect at midnight New York time, escalating a trade war that has rattled financial markets and threatened the global economy. The European Commission said its measures would affect up to €26bn of American goods, matching the US tariffs on European exports, and would take effect in April, leaving some time to negotiate with Washington. 

European Commission president Ursula von der Leyen said the EU regretted Trump’s decision and that tariffs were “bad for business, and even worse for consumers” adding that “tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up.” They will go up… for Europe, pushing the economy further into stagflation.

Brussels hit back after the US tariffs came into force on Wednesday, as Trump pressed ahead with his trade agenda despite growing concern over the risk of a domestic recession. 

As part of its retaliation, Brussels reinstated measures introduced during Trump’s first term on €4.5bn of US exports from April 1. These include levies of up to 50% on products such as bourbon whiskey, jeans and Harley-Davidson motorcycles. That’s right: when you barely imports goods from the US, these are the “essential” products you are forced to crack down on.

The EU has also drawn up levies on a further €18bn of US goods, which could include cosmetics, clothes, wood, soybeans, chicken, beef and other agricultural produce the FT reported. The measures, which could be expanded to include another €3.5bn of goods, require approval by EU countries and would come into force on April 13. 

A senior EU official said soybeans were on the list of targets because they are grown in Louisiana, home state of House of Representatives Speaker Mike Johnson. 

“We’re happy to buy our soybeans from Brazil or Argentina,” they added. “We want to ensure there is pressure within the American system to lift their tariffs,” a second official said. 

But in a stark example of just how much Trump has broken the world’s resolve, the UK broke with the European Union and its decision to retaliate immediately, and reaffirmed its commitment to US trade talks even as British exports were also swept up in President Donald Trump’s global steel and aluminum tariffs.

UK leftist Prime Minister Keir Starmer said he was “disappointed” by the US decision to impose 25% levies on foreign metal products without exemptions on Wednesday morning, telling the House of Commons that his government would keep “all options” on the table in terms of a response. Yet despite the jawboning, Junior Treasury minister James Murray told Times Radio the UK wouldn’t retaliate immediately while reserving the right to do so in due course. 

Despite the US being the UK steel industry’s second-biggest export market, the UK said it was “focused on a pragmatic approach” as it seeks to negotiate a broader economic deal with the White House.

The US move is a blow to the British premier, whose visit to the White House last month appeared to put the UK on a good footing, with officials holding out hope that the talks for a “new economic deal” touted by Trump and Starmer would spare the country from the initial salvo of tariffs.

They did not. 

Britain had been making the case for an exemption by pointing out that its trade in goods with the US is broadly balanced, and that UK steel and aluminum is a small fraction of that imported by the US.

Nobody cared.

Business and Trade Secretary Jonathan Reynolds held a call with US Commerce Secretary Howard Lutnick on Sunday, in which the tariffs were discussed. Starmer also urged Trump not to target British manufacturers in a call with the president on Monday.

“We are focused on a pragmatic approach and are rapidly negotiating a wider economic agreement with the US to eliminate additional tariffs and to benefit UK businesses and our economy,” Reynolds said on Wednesday in a statement.

The British response, or lack thereof, has set up a split with the continent, call it Brexit #2 if you will, as the European Commission launched what it called “swift and proportionate countermeasures.” While that underscores the extra flexibility afforded to the UK by its formal exit from the bloc since the last Trump-led trade war, it complicates Starmer’s efforts to rebuild economic and security ties with European allies.

Going back to Europe, last month Trump announced that he would impose the duties on metals, ripping up agreements struck between his predecessor Joe Biden and US trading partners to allow certain quantities of steel and aluminum to enter the country duty free. US administration officials have framed the move as a response to “foreign players” that they say are responsible for “surging exports” of metals to America that are undermining domestic producers. 

Trump has also expanded the metals tariffs to apply to a wide range of products containing steel and aluminum, including tennis rackets, exercise bikes, furniture and air conditioning units. China, the world’s largest steelmaker and exporter, warned it would “take all necessary measures to safeguard its legitimate rights and interests” but did not immediately announce retaliatory tariffs. 

Australian Prime Minister Anthony Albanese said the tariffs were “entirely unjustified”, adding: “This is not a friendly act”. The country was exempt from similar tariffs implemented during Trump’s first term, and the country’s steel producers supply the US defence and manufacturing sectors. 

The full list of steel and aluminium products subject to the levies represented $151bn of imported goods in 2024, according to an analysis by Simon Evenett and Johannes Fritz of the St Gallen Endowment for Prosperity Through Trade.

Speaking to the FT, Ted Murphy, a partner at law firm Sidley Austin, said Trump’s sweeping new metals tariffs represented a “big change” from his approach when he introduced similar levies in 2018 and allowed exclusions for some products.

“The product exclusions were vetted through a US government process to confirm the products weren’t available in the US,” said Murphy. “So taking that away will mean a lot of folks will have to pay the tariff because they can’t source these products domestically.”

Trump on Tuesday announced he would double the tariffs applied to steel and aluminium imports from Canada to 50% marking an escalation in his trade war with one of the US’s top three trading partners, before reversing course later in the day after Ontario, which had on Monday announced a 25% surcharge on power exported to the US, capitulated and said it would suspend the charge in a bid to de-escalate the tit-for-tat tariffs.

FRANCE

Study Shows 86% Increase In Sexual Violence On French Public Transport

Wednesday, Mar 12, 2025 – 03:30 AM

Authored by Paul Joseph Watson via Modernity.news,

There has been an 86% rise in sexual violence on public transport in France since 2016, with much of the surge happening as a result of mass migration.

Figures released by the National Observatory on Violence against Women (Miprof) show that sexual violence in 2024 increased by 6 per cent over the previous year and 9 per cent over 2022 numbers.

Since 2016, after which France experienced a surge in mass migration, the figure is up by a whopping 86 per cent.

44 per cent of victims were located in the Paris region, with women being the victims on 91 per cent of occasions, with 75 per cent of victims being under the age of 30 and 36 per cent of those being minors.

“It should be noted that this data comes at the same time that France’s migration population has exploded,” reports Remix News.

“With 63 percent of those arrested for sexual assault and 92 percent for petty theft in public transport being foreigners, according to data from 2019. Similar data is seen in Germany, where 59 percent of all sexual assaults on German trains are attributed to foreigners, with sexual crimes doubling since 2019.”

The study also found that 56 per cent of women were afraid to ride on public transport in the Ile-de-France (Paris) rail network, while 80 per cent said they were constantly on alert.

The figures were released at the same time as another batch of statistics from the UK were made public which found that foreigners were responsible for nearly a quarter of recorded sex crimes.

“While most violence against women is committed by members of their close circle, the fact remains that public spaces, and particularly public transport networks, remain places where women are exposed to sexist and sexual violence as soon as they enter them,” said Miprof Secretary General Roxana Maracineanu.

As we previously reported, a left-wing politician who campaigned for the rights of migrants was brutally beaten by a gang of ‘North African’ men yards from her own front door in France.

As we highlight in the video below, despite women typically voting in favor of more mass migration, the consequences continue to be experienced across western countries.

*  *  *

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

END

EUROPE

The Right Is Being Shut Out Of Government Across Europe

b

Wednesday, Mar 12, 2025 – 02:00 AM

Authored by Will Jones via DailySceptic.org,

Right-wing politicians are being shut out of Government across Europe, says Gavin Mortimer in the Spectator, as so-called ‘progressive’ elites in politics and the judiciary effectively rig what are supposed to be democratic elections. 

Here’s an excerpt.

Alarm grew as opinion polls indicated [Calin] Georgescu would win the second round [of Romania’s Presidential election]. Something had to be done, and it was. A couple of days before the decisive vote, Romania’s Constitutional Court annulled the first round because of alleged Russian interference. The court had perused some declassified intelligence documents that claimed 800 TikTok accounts had been activated shortly before polls opened. There was no evidence of voting irregularities in the election itself but the fact Russia had been active on social media was enough for the court to intervene.

At the time, Georgescu likened himself to Donald Trump: an anti-system candidate who was the target of Establishment ‘lawfare’. The Trump administration has subsequently cited Georgescu as an example of the EU’s creeping illiberalism.

In a speech at last month’s Munich Security Conference, Vice-President J.D. Vance expressed his astonishment “that a former European Commissioner went on television recently and sounded delighted that the Romanian Government had just annulled an entire election… these cavalier statements are shocking to American ears”.

The Commissioner in question was Frenchman Thierry Breton, who in a television interview in January boasted that “We did it in Romania and we will obviously do it in Germany if necessary”. He was referring to the upcoming German election and the possibility that the Right-wing Alternative for Germany (AfD) might win.

As it turned out, simply annulling Romania’s Presidential election didn’t derail the Georgescu bandwagon. Quite the opposite. He picked up momentum and polls showed that he would romp to victory in May’s re-run election. As I predicted in January, Romania’s elite wouldn’t allow this to happen.

And they haven’t. At the end of February, Georgescu was detained by police as he drove through Bucharest to file his candidacy in the election. He was indicted on six counts, among them false funding sources and false information in his last campaign. He was also barred from leaving the country and creating any new social media accounts.

Now he is barred from standing for President, a decision he has called a “direct blow to the heart of democracy worldwide”.

It’s part of a disturbing illiberal pattern, says Gavin. 

In Germany, the AfD came second on 20% of the vote but has been shut out of Government in favour of the Left-wing Social Democrats, despite having had their worst performance since 1945. 

In Austria, the anti-immigration Freedom Party won the election last October but still finds itself shunned by the other parties who have colluded to keep it side-lined.

And in France on March 31st a court will rule whether Marine Le Pen will be barred from office for five years over a charge of “misusing EU funds”.

This doesn’t end well. 

The issues that these politicians represent – and simmering public anger about them – obviously aren’t going away, least of all while Left-wing parties cling to power despite losing elections and refuse to address them.

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL HAMAS///

Witkoff lands in Doha as talks resume with aim of extending fragile Gaza truce

Mediators said to be pushing Hamas to release 10 hostages in exchange for 60-day truce, providing time to reach wider deal

By Lazar Berman Follow
and Jacob Magid Follow
11 March 2025, 11:51 pm

Demonstrators protest for the release of Israelis held hostage in the Gaza Strip, outside the Defense Ministry headquarters, in Tel Aviv, March 11, 2025. (Avshalom Sassoni/Flash90)

US special envoy to the Middle East Steve Witkoff landed in Qatar on Tuesday to join indirect talks between Israel and Hamas aimed at extending the current, fragile ceasefire in Gaza, a source familiar with the matter told The Times of Israel.

Wiktoff will meet Wednesday with Qatari Prime Minister Mohammed bin Abdulrahman Al Thani, the source said. Witkoff on Monday praised Qatar for its “outstanding” mediation efforts, adding that Egypt, Saudi Arabia, and the United Arab Emirates have also been helpful.

Israel is hoping that the US can advance a proposal for a roughly two-month extension of the ceasefire, during which Hamas would release about half of the living hostages up front, an Israeli official said

Hamas has thus far rejected the proposal, insisting that the sides stick to the framework that was agreed upon in January. The first phase of the three-phase hostage-ceasefire deal ended on March 1 with no agreement on subsequent stages that could secure a permanent end to the war, but both sides have since refrained from resuming full-scale fighting.

Channel 12 news reported Tuesday night that mediators Qatar, the US, and Egypt are pushing Hamas to demonstrate its seriousness by accepting the offer, thereby providing more time to reach wider agreements on the ongoing ceasefire.

The outlet has previously reported the framework would see Hamas release 10 living hostages, including American-Israeli Edan Alexander, in exchange for a further 60 days of ceasefire.

Steve Witkoff, White House special envoy for the Middle East, speaks with reporters at the White House, March 6, 2025, in Washington. (AP/Alex Brandon)

The report said that the mediators told Hamas, “This is your last chance to prevent the renewal of war on Israel’s part. Everyone needs time, even you.”

An Israeli source with knowledge of the details told The Times of Israel that there is some “readiness” on the part of the terror group to agree to a long extension of the ceasefire without moving to the second phase of the deal.

Hamas would likely demand the release of senior terrorists being held by Israel in exchange for accepting the proposal, said the source.

The source said that there is a “gap” between the US and Israeli delegations’ expectations from the talks in Qatar and their decision-making abilities: While Trump has sent Witkoff, someone who can make decisions, the Israeli delegation — while relatively senior — is not empowered to make decisions. Prime Minister Benjamin Netanyahu’s new point man on the talks, Strategic Affairs Minister Ron Dermer, has not traveled to Qatar.

A senior Hamas official confirmed that the fresh round of ceasefire talks began on Tuesday in Doha, with the terror group approaching the negotiations “positively and responsibly.”

“We hope that the current round of negotiations leads to tangible progress toward beginning the second phase,” Abdul Rahman Shadid said.

He also expressed hope that Witkoff would help “initiate negotiations for the second phase of the ceasefire agreement.”

“The US administration bears responsibility due to its unwavering support for the occupying [Israeli] government,” he said.

A Palestinian man ferries a gas cylinder on his bicycle at a displacement camp west of Jabalia city in the northern Gaza Strip on March 11, 2025. (Bashar TALEB / AFP)

Foreign Minister Gideon Sa’ar said that Israel is still open to achieving its war aims in Gaza through negotiations.

“If we can achieve our goals in political means, okay, very good,” he said in an interview with ABC news. “But if we will not be able to do that, we will have to resume our military activity.”

Israel has said its goals include the return of the hostages held by terror groups in Gaza and the elimination of Hamas’s military and government in the Strip. These goals were echoed Monday by Witkoff, who told Fox News the terror group has “no alternative” to disarming and leaving Gaza.

Sa’ar also said Tuesday that Israel “conveyed our thoughts” to the Trump administration about US officials holding direct talks with Hamas last week.

Trump’s hostage envoy Adam Boehler has been involved in separate, direct talks with Hamas that, while broadly aimed at ending the war without the terror group in power, are specifically focused on freeing Alexander, the living Israeli-American hostage, as well as securing the release of the bodies of four slain Americans still held by the group.

The talks sparked private but intense criticism from Israel.

US Secretary of State Marco Rubio said Monday that the direct dealings were a “one-off situation” that as of now “hasn’t borne fruit.”

US Secretary of State Marco Rubio speaks with the media on a military airplane as he flies to Jeddah, Saudi Arabia, March 10, 2025. (SAUL LOEB / POOL / AFP)

Of the hostages remaining in Gaza, 24 are presumed to be alive, while 35 have been confirmed dead by Israeli officials, based on evidence and intelligence.

END

Israeli official: Talks in Doha on Gaza are centered on ‘Witkoff proposal’

By Lazar Berman FollowToday, 1:35 pm

Israel is focused on the so-called “Witkoff proposal” during ongoing talks in Qatar on the future of the Gaza ceasefire and hostage release deal, an Israeli official tells The Times of Israel.

The outline — said to have been created in talks between Strategic Affairs Minister Ron Dermer and US special envoy to the Middle East Steve Witkoff — envisions a roughly two-month extension of the ceasefire, during which Hamas would release about half of the living hostages up front, and the rest at the end along with an end to the war.

The Israeli negotiating team is scheduled to return home tonight, says the official, but could remain in Doha if there is a breakthrough.Promoted: Jewish Crossroads, Julie PlattKeep Watching

“Witkoff landed last night,” says the official. “Let’s see if there are any developments, and we’ll see if there is a reason to stay there. If there is, they’ll stay.”

More from today’s Liveblog:

• Israel aims for ‘normalization’ with Lebanon in new talks, senior Israeli official tells ToI
• Doctors Without Borders chastises Israel, accuses it of using aid as ‘bargaining chip’
• Arab Israeli sports announcer charged over interview with Hamas TV, praise for terror groups

The IDF’s job in the Gaza Strip is not over – opinion

This war vindicated the military theorists who teach that in an age of total war with totally evil enemies, the only way to fight is to fight to win.

By GIL TROYMARCH 12, 2025 00:57

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fopinion%2Farticle-845672&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

Good historians abhor premature evaluation. Sweeping conclusions about Israel’s military outcomes in Gaza, today, mid-war, are foolish. It’s like the Democrats who assessed Kamala’s victory – after her successful debate 55 days before Election Day. 

Still, today’s clashing interpretations regarding Gaza will shape how Israel proceeds in the coming months to win conclusively – which entails freeing the hostages and further neutralizing any threats from Hamas and other Gazan terrorists.

Particularly tedious are Netanyahu’s worshipers, who credit him for any successes, while excusing every failure. To them, the prime minister had nothing to do with the pre-October 7 “conceptzia,” the calamity, or any hesitations afterwards – despite years of insisting he was in charge, that he had tamed Hamas, and that only he, “Mr. Security,” could guarantee Israelis’ safety.

END

ISRAEL /WEST BANK GAZA

IDF deploying ‘worm-sized’ spy devices in Gaza to track hostages, future targets – report

Sources claimed that Israel is gathering as much intelligence as possible to update its target database in Gaza.

By LIRAN AHARONIMARCH 12, 2025 18:08Updated: MARCH 12, 2025 18:17

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-845759&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250225_eab6a653f4759423d63a849fb76f9f0d4185dca4&useBunnyCDN=0&themeId=140&unitType=tts-player

Israel has recently intensified its intelligence operations, using drones to deploy espionage devices in various areas of the Gaza Strip and collect information on future targets, the London-based Arabic newspaper Asharq Al-Awsat reported, citing sources from Palestinian terror factions in Gaza.

The report also said that some of these drones are being used to gather intelligence on hostages still held in Gaza.

Other sources from Gaza-based terrorist organizations claimed that the newly deployed surveillance tools released by drones include cameras and other wiretapping devices as small as a worm. These devices, they alleged, are hidden in bags placed in remote areas, cemeteries, and sometimes even in densely populated neighborhoods.Top ArticlesRead More

The sources further stated that operatives from terrorist groups have identified and neutralized some of these espionage attempts.

According to the report, Gaza’s security forces have been monitoring these drop sites to determine whether Israeli operatives arrive to collect the devices.This surveillance has reportedly led to the arrest of several Palestinians.

Gathering intelligence

Additionally, the sources claimed that Israel is gathering as much intelligence as possible to update its target database in Gaza. They identified several locations where drones have been observed deploying these espionage devices, including central Khan Yunis, Deir al-Balah, the al-Nuseirat refugee camp, the al-Bureij refugee camp, the al-Zawaida refugee camp, and several neighborhoods in Gaza City.

Terrorist organizations in the Strip are reportedly on high alert, fearing a sudden IDF operation by air or ground. The sources also claimed that Israel has been using a type of suicide drone, which has already been deployed in targeted assassinations of terrorists and field commanders during the war.

Surveillance on hostage releases

In light of the reports, Hamas has reportedly issued new security regulations warning of the alleged Israeli intelligence efforts to monitor activities in Gaza, particularly in areas where hostage handovers occur.

According to a Hamas-affiliated Telegram channel, Al-Hares (The Guardian), A Hamas commander within Gaza’s National Security stated that Israel has increased its intelligence operations in the Strip, particularly during Ramadan, as part of efforts to gather information about hostages.

“Due to Israel’s intelligence efforts and information gathering, families of resistance fighters must proceed with extreme caution and be ready for any emergency situation,” the channel stated.

The message further instructed Gazans to avoid sharing information about Hamas members, limit media exposure, and refrain from posting details on social media.

ISRAEL SYRIA

Sen. Graham Admits The Syrian Jihadists He Once Supported Are Now Massacring Civilians

Tuesday, Mar 11, 2025 – 09:45 PM

Via The Libertarian Institute

After a decade-long American effort to remove Syrian President Bashar al-Assad from power in Damascus, Senator Lindsey Graham says the US-backed jihadists that now control the country are causing more concern than ever.

In an interview on Fox News Sunday, Graham explained that he had “never been more worried about the deterioration of Syria than I am now.” The senator was discussing an outbreak of violence in the country, where forces aligned with the new government are conducting mass executions targeting the Alawites and other religious minorities.

Under President Barack Obama, Washington provided training and arms for Assad’s opposition, hoping to remove him from power and undermine Iran’s regional influence. However, the most powerful rebel factions were violent jihadists, a fact acknowledged in a 2012 internal memo circulated by Obama’s Defense Intelligence Agency (DIA).

During Trump’s first administration, he ended US support for the Sunni opposition, but enforced sweeping sanctions on Damascus that prevented the government from crushing Syrian al-Qaeda, led by Abu Mohammad al-Jolani and then concentrated in the country’s Idlib province.

At least some support for the rebels resumed during the Joe Biden presidency. In 2024, equipped with Ukrainian drones, Jolani’s forces went on the offensive, capturing Damascus and forcing Assad to flee the country.

Jolani and his organization – Hayat Tahrir al-Sham (HTS), a jihadist umbrella group – then seized control of the country. After dubbing himself the new Syrian leader, Jolani was embraced by Washington and its allies. Last week, when violence broke out in Syria’s coastal region, HTS responded by killing hundreds of Alawite civilians.

The events of the past weekend left Senator Graham questioning whether the US could still work with Jolani and HTS. “Is this al-Qaeda or ISIS-light or is this some new form of Islam that we can all live with?” he asked, adding that before any sanctions were removed, Jolani must comply with unspecified conditions.

Graham has supported the regime change operations against Assad for well over a decade. In 2012, he argued, “We need to form a coalition to help arm the rebels, as well as create no-fly and no-drive zones to stop the slaughter by the Assad regime. I cannot say with certainty what will follow Assad but I can say with certainty that Assad must go, sooner rather than later.”

“If America is seen as being helpful in ending the slaughter of the Syrian people, it will allow us to have a stronger, future relationship with Assad’s eventual successor,” he continued. “Replacing Assad in Syria is critical to regional stability, a major blow to the Iranian regime and will bolster our national security interests.”

The next year, the senator acknowledged that “radical Islamists are hijacking [the Syrian] revolution.” However, that did not sway Graham’s support for regime change.

In 2015, the South Carolina lawmaker argued that the US should prioritize taking out Assad to fighting the jihadists. “How can we train a Free Syrian Army or send any other force into Syria if we don’t first deal with the Assad air threat?” he said, referring to the country’s supposedly “moderate” rebel FSA faction.

During the first Trump administration, in 2020, Graham called for the creation of a no-fly zone in Idlib to protect HTS and its jihadi allies from Syrian government airstrikes. “The world is sitting on its hands and watching the destruction of Idlib by Assad, Iran, and the Russians. This is one of the greatest humanitarian disasters in decades and the brutal aggression of Assad supported by Iran and Russia needs to come to an end,” he said at the time. 

“I very much appreciate Turkey’s intervention in Idlib. It is now time for the international community to establish a no-fly zone to save thousands of innocent men, women, and children from a horrible death,” Graham added.

end

SYRIA

Silence speaks volumes: Media coverage of Syrian Alawite killings must be criticized – editorial

This is exactly the kind of violence that should have international media splashing over, but it didn’t get the attention it deserves.

By JPOST EDITORIALMARCH

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By Tuesday, the volume of violence and killings that befell the Alawite community on the west coast of Syria over the past few days started to emerge from the fog. So far, the UN human rights office has documented the killing of 111 civilians and expects the real toll to be significantly higher, UN human rights office spokesperson Thameen Al-Kheetan told a Geneva press briefing.

Of those, 90 were men; 18 were women; and three were children, he added. The office added that entire families, including women and children, were killed in Syria’s coastal region as part of a series of sectarian killings by the army against an insurgency by loyalists of Bashar al-Assad.

The West breathed a large sigh of relief when the oppressive regime of Assad was toppled in December by Hay’at Tahrir al-Sham (HTS) and its leader and current Syrian President Ahmed al-Sharaa.

A Syrian fact-finding committee investigating the clashes said on Tuesday that no one was above the law and it would seek the arrest and prosecution of any perpetrators.

Whether this is lip service or genuine remains to be seen, but what must be scrutinized and criticized is the way these violent clashes were treated by the media. Syria has a bloody sectarian history; these clashes were not an exception but part of a sad pattern.

Sharaa signed a deal on Monday with the Kurdish-led, US-backed group Syrian Democratic Forces (SDF) in eastern Syria, in an effort to unite a wide array of political, religious and social groups. The SDF controls much of Syria’s northeast and is viewed by Turkey as a terrorist organization because of links to Kurdish militants. Turkey said it was “cautiously optimistic” about the SDF agreement. An agreement between Syria and the Druze in Suwayda in the south is looking to be on its way.

Let’s be clear: 111 people were killed in an ethnic cleansing rampage, and there was barely any international noise about it. That is a problem because the attention to violence has to be equally distributed.

The attacks were reportedly carried out by Sharaa’s forces against the minority Alawite community, the same sect that Assad belongs to. The anger is understandable; the act is inexcusable. “The situation is disastrous,” E., an Alawite civilian contractor from the area of Jableh in the coastal region of Syria, told the Post’s Ohad Merlin.

“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. E. described the situation across the coastal region as a set of ghost cities and towns, some blocked by the new regime’s loyalists.

“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 said.

This is exactly the kind of violence that should have international media splashing over, but it didn’t get the attention it deserves. Perhaps because the international community is still waiting to see what Sharaa’s moves are, still collecting data on this new leader, or perhaps because it is easier to turn the other cheek when the leader is a man who shook all the hands needed in the Western arena.

Let’s hope the fact-finding committee yields results. “No one is above the law, the committee will relay all the results to the entity that launched it, the presidency, and the judiciary,” the committee’s spokesperson Yasser Farhan said in a televised press conference. In the meantime, caution remains necessary towards our northern neighbors.

‘Artificial discourse’

On Monday, Foreign Minister Gideon Sa’ar said, “The discourse on the transition of governments in Syria is artificial. This is not a democratically elected regime but rather a Jihadist group that ruled the Idlib enclave and seized additional territories in Syria by force, including the capital, Damascus.”

Israel needs to keep its cards close to its chest, and the international community must remain wary – something it didn’t do properly with the Alawite clashes.

END

ISRAEL LEBANON

Israel to hold talks with Lebanon on land border, frees 5 detainees as goodwill gesture

Amid negotiations in Naqoura that establish 3 joint working groups, Israel agrees to hand back reported terrorist and 4 other Lebanese; IDF strikes Hezbollah operatives

By Lazar Berman, Follow
Nava Freiberg and Emanuel Fabian Follow
11 March 2025, 7:41 pm

A United Nations peacekeeping force (UNIFIL) convoy patrols next to Naqoura, in Lebanon near its border with Israel, ahead of negotiations between the two countries in the area, October 13, 2020. (Mahmoud Zayyat/AFP)

Israel and Lebanon agreed on Tuesday to open negotiations to delineate the border between the two countries, the Prime Minister’s Office said.

After a four-way meeting with the US and France at the United Nations peacekeeping force headquarters in Naqoura, the two sides also announced that three joint working groups would be established.

The teams will focus on the five points Israel still occupies inside of Lebanon, the Blue Line that marks the de facto border between Israel and Lebanon, the points that are under dispute, and Lebanese citizens held by Israel.

Israel also agreed to release five Lebanese detainees as a “gesture to the new Lebanese president,” Joseph Aoun, the PMO said, adding that the release is coordinated with the US.

Lebanon said it had received the four Lebanese “hostages” from Israel, with a fifth to be handed over on Wednesday, according to a statement by the Lebanese president’s office on X.

Citing two US officials, Axios reported that one of the Lebanese nationals released by Israel is a member of Hezbollah.

According to reports in Lebanon, a total of 11 Lebanese nationals are currently being held by Israel.

The working groups could meet as early as next month, according to Axios

Jerusalem and Beirut negotiated a maritime boundary in 2022 — an agreement brokered by the US — but the two countries have yet to adopt an official land border.

Lebanese army soldiers sit on their parked tanks along a road in the southern Lebanese coastal town of Naqoura, on the border with Israel on January 7, 2025, after Israel’s withdrawal from the area as part of the ceasefire agreement between the two countries. (AFP)

A November 27, 2024, truce in Lebanon largely halted more than a year of hostilities between Hezbollah and Israel, including two months of full-blown war during which Israel sent in ground troops. The fighting began with attacks by the terror group on the Jewish state on October 8, 2023, in support of ally Hamas, which had invaded Israel from Gaza a day earlier. Persistent rocket fire from Lebanon displaced some 60,000 Israeli civilians.

“Everyone involved remains committed to maintaining the ceasefire agreement and to fully implement all its terms,” US Deputy Presidential Special Envoy Morgan Ortagus said in a statement. “We look forward to quickly convening these diplomat-led working groups to resolve outstanding issues, along with our international partners.”

Ongoing strikes

Despite the diplomatic breakthrough, combat continued in Lebanon on Tuesday, with an Israeli drone strike in the southern part of the country killing a Hezbollah operative, a military source said.

The strike on a car in the Nabatieh area in southern Lebanon on Tuesday targeted a Hezbollah commander in the terror group’s aerial defense unit, said the IDF.

He was identified by the military as Hassan Abbas Izzedine. Lebanese media outlets published images of the vehicle’s remains between the villages of Deir Zahrani and Humin al-Fawqa in Southern Lebanon.

Hezbollah supporters, waving yellow banners of the Iran-backed terror group as well as the national flag of Lebanon (C), stand over a makeshift US flag in front of buildings destroyed by Israeli bombardment during a protest in the southern Lebanese village of Tair Harfa on February 9, 2025 against a visit by the US deputy special envoy for the Middle East Morgan Ortagus to south Lebanon. (Mahmoud Zayyat / AFP)

The IDF said he was a “significant source of knowledge” in Hezbollah’s aerial defense unit and led attempts to rebuild the unit’s infrastructure that was decimated during the war. Izzedine also worked to procure new equipment for the unit, which posed a threat to Israeli military aircraft, the IDF added.

Another Israeli Air Force strike in southern Lebanon targeted a group of Hezbollah operatives who were identified at a facility belonging to the Iran-backed group, according to the IDF.

The IDF also carried out airstrikes on Friday night in southern Lebanon, saying it targeted a Hezbollah operative and sites used to store weapons and rocket launchers, adding that the strikes were carried out due to the threat they posed to Israel.

Fighting also continues in Gaza

Separately on Tuesday, the IDF carried out an airstrike on suspects in Gaza that were threatening Israeli forces, it said in a statement.

The territory’s Hamas-affiliated civil emergency service said the strike killed four people.

According to the IDF, the drone strike targeted a group of Gazans near the Netzarim checkpoint, south of Gaza City.

The IDF’s ‘Terminal 3’ checkpoint to the Netzarim Corridor of central Gaza, December 26, 2024. (Emanuel Fabian/Times of Israel)

The military said the strike was ordered “after terrorists were spotted acting in a suspicious manner on the ground in central Gaza and they posed a threat to troops.”

The suspects were planting a bomb, a military source said.

IDF troops are still deployed inside a buffer zone along the Gaza border amid an uncertain ceasefire between Israel and Hamas that officially ended at the beginning of the month.

The IDF has repeatedly warned Palestinians against approaching the area.

Over the weekend, the IDF carried out airstrikes in Gaza, targeting operatives planting a bomb and another group operating a drone.

Smoke rises after an Israeli airstrike in the northern Gaza Strip, as seen from the Israeli side of the border, on January 16, 2025. (Chaim Goldberg/Flash90)

In recent weeks, there have been several attempts to smuggle contraband into the Gaza Strip, with the IDF saying suspects on the Israeli side load up drones with weapons or drugs and fly them over the border.

The strikes in Lebanon and Gaza came during ceasefires on both primary war fronts, but Israel has said it will continue to act against terror operatives who are in breach of the truces and who pose a threat to its forces.

Last month, Israel withdrew all its forces from southern Lebanon, except five strategic points, saying it had received a green light from the US to remain at those posts and citing the need to prevent Hezbollah from returning to the area and threatening Israel.

In Gaza, Israel and Hamas agreed to a ceasefire and hostage release deal that began on January 19, which has seen 33 Israelis returned. They are now in talks to extend it, though Jerusalem has warned it could soon resume fighting if Hamas does not continue to release hostages.

END

ISRAEL HOUTHIS

Houthi terrorists vow to resume attacks on Israeli ships after Gaza aid deadline ended

The ‘ban on the passage of all Israeli ships’ will continue ‘until the crossings to the Gaza Strip are reopened and aid, food, and medicine are allowed in,’ Saree added.

By JERUSALEM POST STAFF, REUTERSMARCH 11, 2025 23:11Updated: MARCH 12, 2025 02:24

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Yemen’s Houthis said on Tuesday they will attack any Israeli ship that violates the group’s ban on Israeli vessels passing through the Red and Arabian seas, the Bab al-Mandab Strait, and the Gulf of Aden, effective immediately.

The “ban on the passage of all Israeli ships” will continue “until the crossings to the Gaza Strip are reopened and aid, food, and medicine are allowed in,” said the Houthi terror group’s military spokesperson, Yahya Saree, on behalf of the Houthi leader, Abdul Malik al-Houthi.

This announcement follows al-Houthi’s Friday statement that the terror group would resume its naval operations against Israel if Israel did not lift a blockage of aid into Gaza within four days.

END

ZEROHEDGE/HOUTHIS/ISRAEL

Countdown Has Begun To Resumption Of Attacks On Red Sea Shipping: Houthis

Tuesday, Mar 11, 2025 – 10:10 PM

The Houthis of Yemen (Ansar Allah) have announced on Tuesday the countdown has begun to the resumption of attacks on Red Sea shipping and military vessels patrolling the waters.

The Iran-backed Shia group which has effectively been at war with Israel since the Oct.7 2023 Hamas attacks and beginning of the subsequent Gaza war has issued a new deadline for Israel to lift restrictions on humanitarian aid to the Strip.

“Confirming the readiness of the Yemeni naval operations, whose mission is to confront the Israeli American starvation and terrorist siege of Gaza,” an Ansar Allah spokesman Mohamed Ali Al-Houthi, posted in an Arabic statement on X.

“Any escalation will be the responsibility of the Israeli and American enemies,” the statement added. The Houthis had paused their long-running attacks on Red Sea vessels – both merchant ships and military – when the Hamas-Israel truce and hostage exchange deal took effect.

Deputy Head of Ansar Allah’s Media Authority Nasruddin Amer on X:

“Only hours separate us from announcing the closure of the sea to Zionist navigation if the efforts of the mediators fail to pressure the Zionist enemy to adhere to the agreement and lift the siege on Gaza.”

But when Israel starting last week blocked humanitarian aid and fuel shipments into the Gaza Strip, which has also more lately included the cutting off of remaining electricity supplies, the Houthis warned to restore the aid or else face resumed attacks.

The group’s leader last Friday had declared a four-day deadline before attacks on shipping would resume. That four day timeline is about to end by close of Tuesday, which means the Red Sea could be fiery scene of drone and missile attacks out of Yemen once again.

Since 2023 over 100 missile and drone attacks on commercial vessels have occurred in the Red Sea and the Gulf of Aden. The Houthis have also downed several MQ-9 Reaper drones operated by the Pentagon.

A US-led naval coalition which began under the Biden administration has been able to do nothing in terms of putting a dent in Houthi capabilities, even after several bombing raids on Yemen, also at times including Israeli and UK jets.

END

IRAN

Iran Tells Trump ‘Do Whatever The Hell You Want’ On Oil Crackdown

Tuesday, Mar 11, 2025 – 08:30 PM

As fully expected, Iran in a new Tuesday statement rejected the possibility of nuclear talks with the US under the Trump administration so long as it is threatened. 

Iran’s President Masoud Pezeshkian has ruled out any dialogue “while being threatened” – as cited in state media. That’s when he used some colorful words expressing that Trump can do “whatever the hell you want.” Iran has greatly struggled economically, but has endured – as is deepening relations with Russia and China.

“It is unacceptable for us that they (the US) give orders and make threats. I won’t even negotiate with you. Do whatever the hell you want,” Pezeshkian stated.

This is part of the continuing response to President Trump’s saying late last week he had sent a letter to Supreme Leader Ayatollah Ali Khamenei urging Tehran to come to the table for new talks.

On Saturday, Khamenei had stressed that the Islamic Republic will be bullied into talks with the US as it exerts a “maximum pressure” campaign, targeting Iran’s oil revenue.

This after Trump had already pulled of the 2015 JCPOA nuclear deal in April of 2018. Iranian leaders have repeatedly said over the years they can no longer trust Washington to stick to any agreements.

Trump had late out in a Fox News interview Friday, “There are two ways Iran can be handled: militarily, or you make a deal.” He added: “I would prefer to make a deal because I’m not looking to hurt Iran. They’re great people.”

In addition to the possibility that the US administration could begin ordering naval intercepts of ‘illicit’ Iranian oil shipments, there is the further development on Tuesday which adds to the squeeze on Iran’s energy sector: 

The Trump administration ended a waiver that allowed the Iraqi government to buy Iranian electricity in a renewed effort to choke off Iran’s profits.

National security advisor Mike Waltz told Iraqi Prime Minister Mohammed Shia al-Sudani that the end of the waiver was consistent with President Donald Trump’s “maximum pressure” campaign on Iran as the administration goes all-in on trying to prevent the regime from acquiring a nuclear weapon.

“Waltz welcomed the Iraqi Prime Minister’s efforts to achieve energy independence for Iraq, and encouraged the Iraqi government to welcome more western and U.S. energy companies into Iraq’s oil and gas sectors.” 

Trump had in his prior Fox interview additionally stated, “I’ve written them a letter, saying I hope you’re going to negotiate because if we have to go in militarily it’s going to be a terrible thing for them.” Tehran had initially said it didn’t receive the letter. In the meantime Russia, China, and Iran have been conducing fresh military drills in the Gulf of Oman.

END

PAKISTAN

my goodness: what is happening to our world?

Pakistan train hijacking: Hostage rescue complicated by suicide bombers, sources say

Pakistani forces have rescued 155 passengers, and the government said a security operation was under way to free dozens still held hostage, without specifying the exact number.

By REUTERSMARCH 12, 2025 08:46

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Attackers wearing suicide bombs were sitting next to passengers taken hostage after militants took over a train in southwest Pakistan, sources said on Wednesday, complicating rescue efforts a day after the country’s first such hijacking.

The separatist militants blew up a railway track and opened fire on the Jaffar Express on Tuesday as it traveled from Quetta, Balochistan’s capital city, to Peshawar in Khyber Pakhtunkhwa province.

Pakistani forces have rescued 155 passengers, and the government said a security operation was under way to free dozens still held hostage, without specifying the exact number.

The Baloch Liberation Army (BLA), an ethnic armed group, claimed responsibility for the attack and threatened to start executing hostages unless Baloch political prisoners, activists, and missing persons it said had been abducted by the military were released within 48 hours.

BLA said on Tuesday it was holding 214 people hostage, and a security source told Reuters that there were 425 passengers on the train when it was attacked.

The number of militants involved in the attack was not clear. The security sources said on Wednesday that 27 had been killed so far.

BLA is the largest of several ethnic armed groups battling Pakistan’s government in the mineral-rich province of Balochistan, bordering Afghanistan and Iran.

Passengers killed

Several of those rescued were brought to Quetta early Wednesday, escorted by security forces, where their relatives were waiting for them.

“People were attacked … passengers were injured and some passengers died,” said Muhammad Ashraf, who was on the train.

Several witnesses interviewed by Geo News said they were asked by security personnel to stay low when there was gunfire.

Visuals from the broadcaster showed those rescued meeting and hugging relatives and friends.

A woman, who said her son was among the passengers still held hostage, confronted provincial minister Mir Zahoor Buledi when he visited the freed passengers.

“If you cannot protect trains, then you should not run them. Please, bring my son back,” she said.

Pakistan Railways has suspended all operations from Punjab and Sindh provinces to Balochistan until security agencies confirm the area is safe , local media reported on Wednesday.

Buledi told reporters that the government was working to improve the security situation in the region.

end

PAKISTAN/AFGHANISTAN/USA

Trump Will Likely Have To Cut A Deal With Pakistan If He’s Serious About His Afghan Plans

Tuesday, Mar 11, 2025 – 11:25 PM

Authored by Andrew Korybko via substack,

Geographic reasons make this a practical necessity if he wants to restore the US’ military presence at Bagram Airbase and/or return some of the equipment that Biden left there during the withdrawal.

Trump surprised many when he recently declared that he wants to restore the US’ military presence at Afghanistan’s Bagram Airbase and return some of the equipment that Biden left during the withdrawal. 

He justified the first on the basis that it’s just one hour away from where China makes (likely meaning bases) its nuclear weapons and claimed that it now allegedly occupies Bagram.

The second, meanwhile, was justified due to the dangers presented by the Taliban selling this equipment to other groups.

Trump also expressed frustration that the US is allegedly spending billions of dollars each year helping to keep Afghanistan afloat. 

Even if he successfully leverages foreign aid in advance of these interconnected military-strategic goals, which might be counterproductive if China replaces lost American support to entrench its influence in Afghanistan, then he’ll still likely have to cut a deal with Pakistan. 

That’s because the most viable way for the US to access Afghanistan is from its traditional partner’s airspace and roads.

The problem though is that a growing number of issues have begun to beset their partnership. These include the US’ preference for India as its top regional partner in recent years, criticism of a military court’s conviction of 25 civilians a few months ago in connection with unrest over Imran Khan’s scandalous jailing, and newfound concerns about the true intentions of its long-range missile program. Pakistan is also disappointed that the US hasn’t taken its side over the Taliban amidst their tensions.

While it’s possible that Pakistan’s de facto military regime might literally sell out their nation’s abovementioned interests to let the US transit across its territory en route to Afghanistan if Trump reaches a deal with the Taliban, which is itself easier said than done, that can’t be taken for granted. They might very well bargain hard on some issues in order to receive more than just pecuniary benefits. This could take the form of demanding more military equipment and an end to alleged US meddling.

The first could be manipulated to create the optics of the US rebalancing its relations with India for the purpose of provoking an overreaction from the latter’s decisionmakers or media, while the second could silence criticism of Imran Khan’s scandalous jailing and relieve pressure on its missile program. Of course, another possibility exists, and it’s that Trump doesn’t negotiate fairly with Pakistan but instead ramps up pressure upon it and then promises to reverse what was just added in exchange for what he wants.

That could be accomplished via more official attention being paid to Imran Khan’s case in parallel with threatening the curtailment of existing military aid and sanctions over its missile program. All that would change if Pakistan capitulated to this newfound comprehensive pressure campaign is that the intensity would simply revert back to what it once was instead of remaining high. Instead of giving him what he wants, however, Pakistan might abandon its Sino-US balancing act to defiantly pivot towards China.

That might not be the best course of action from the perspective of Pakistan’s objective national interests since the US could deal a lot of strategic damage to its renegade partner in that scenario. Its military and political leadership could be personally sanctioned, all aid might be immediately withheld, and Trump could double down on the sale of the latest military-technical equipment to India. All of this could also be paired with sectoral sanctions, including secondary ones, for generating more unrest.

Nevertheless, none of this might come to pass since it’s ultimately dependent on Trump reaching a deal with the Taliban for returning to Bagram Airbase and/or returning some of its military equipment that Biden left in Afghanistan, neither of which should be taken for granted. It also remains unclear how serious Trump is about this since he might have just been spitballing like he’s known to sometimes do. Although unlikely, there’s also an out-of-the-box solution, which will now be touched upon.

In the event that a deal is reached with the Taliban but Pakistan remains obstinate in cutting its own with the US, then the US might reach a deal with the Central Asian Republics to facilitate the exit of US military equipment and/or allow the US military transit rights to return to Bagram. This corridor, which relies on the South Caucasus for access to the Eurasian Heartland, was in effect during most of the American occupation of Afghanistan and was referred to as the “Northern Distribution Network”.

In the contemporary geopolitical conditions, this could be achieved in coordination with Russia as a manifestation of the nascent Russian–US “New Détente”, the details of which are beyond the scope of this analysis but can be learned more about from the preceding four hyperlinked analyses. This wouldn’t be anywhere near as economical as securing transit through Pakistan, but it could suffice if that country refuses to cut a deal, and even the possibility might be enough to get its policymakers to reconsider.

Altogether, everything depends on how serious Trump is on reaching a deal with the Taliban; him successfully clinching such; and then the success of his efforts to reach a related one with Pakistan. It’s too early to tell either way in any of these three cases, but any progress on the first part would then put Pakistan in the spotlight, thus making this analysis very relevant. Until then, observers should casually monitor this issue, but they should also temper expectations about anything significant happening.

END

ISRAEL SYRIAN DRUZE

Israeli fighter jets fly low over Syria in ‘message’ to Sharaa on Druze – N12

Another aim of the air display was to drive interim President Ahmed al-Sharaa’s forces away from the Druze areas of Syria, N12 added.

By JERUSALEM POST STAFFMARCH 12, 2025 12:27Updated:

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IAF fighter jets flew at a low altitude over Syria in recent days as a way of sending a message to the new Syrian regime that Israel will protect the Druze, N12 first reported on Wednesday morning. 

Another aim of the air display was to drive interim President Ahmed al-Sharaa’s forces away from the Druze areas of Syria, N12 added.

Against the backdrop of the new regime’s massacre of Alawites in the country, some Druze fear the same fate, N12 said.

Israel has been in continuous contact with Syrian Druze leaders, promising to protect them from harm. 

On March 1, Defense Minister Israel Katz and Prime Minister Benjamin Netanyahu released a statement saying, “We will not allow the terrorist regime of radical Islam in Syria to harm the Druze.”

“If the regime harms the Druze, it will be harmed by us. We are committed to our Druze brothers in Israel to do everything to prevent harm to their Druze brothers in Syria, and we will take all necessary steps to maintain their security.”

Druze worker scheme

Defense Minister Israel Katz has declared a pilot scheme that will bring Syrian Druze workers into Israel will begin next week. The workers will first be allocated to agricultural work in the Golan Heights.

On Tuesday night and early Wednesday morning, the IDF carried out a wave of strikes in Syria, with the stated aim of preventing the new Syrian regime from acquiring arms left behind by Assad forces. 

According to the IDF, the strikes targeted night radars and detection equipment, which could be used to build an aerial intelligence picture.

END

RUSSIA VS UKRAINE

Ukraine ‘Losing Its Trump Card’ As Key Kursk Town Liberated By Russian Troops

Wednesday, Mar 12, 2025 – 08:55 AM

Ukraine is losing the little bit of leverage it might have had left amid discussions toward preparing negotiations with Moscow. Russia’s Kursk is now fast being retaken, and Ukrainian forces are folding, as on Wednesday Russian troops raised their flags over the key town of Sudzha .

The central square of the town in the southwestern Kursk region was scene of where Russia’s Airborne Troops published a short aerial video showing soldiers unfurling a Russian flag as well as military unit banners. Other state media outlets subsequently featured the footage. Newsweek has underscored that Ukraine is fast “losing its trump card.”

Moscow has been focusing its forces on to regaining control around Sudzha in recent days, having retaken 12 settlements in the border region earlier this week.

Fighting is said to still be ongoing, but Moscow forces have asserted control over the center. Ukrainian media also acknowledges the following:

Russian troops have launched an offensive on the Ukrainian-controlled town of Sudzha in Russia’s Kursk Oblast, entering the settlement, the DeepState monitoring group, the Institute for the Study of War (ISW), and the Russian state news agency TASS claimed on March 12. Fighting in the town is reportedly ongoing.

…According to DeepState, Russian forces have entered the eastern part of Sudzha and are entrenching their positions. TASS published purported drone footage claiming that Russian troops had entered the town center and raised a Russian flag.

War bloggers have been closely monitoring the fight for control of Sudzha, with Ruslan Leviev of the war monitor Conflict Intelligence Team describing that Ukrainian troops have been in steady retreat from the entire region.

“We’ve seen that all the areas coming under Russian control have been taken with little to no resistance. The same goes for Sudzha,” Leviev said. “Today, we’re seeing them on the opposite side [of the town]. And again, there are no images of any fighting.”

“At this point, it’s fair to say that the entire city of Sudzha is now under Russian control,” he described of the ground situation. 

While months ago Ukrainian forces occupied several hundred square kilometers of Russian territory in Kursk region, as of Wednesday that control has shrunk to less than 200 square kilometers (77 square miles), according to the Ukraine-military linked DeepState war tracker.

Video said to be from on the ground in Russia’s Sudzha, including interviews with elderly Russians that stayed the whole time:

Recall that in the late last month famous Oval Office blow-up involving Trump, Zelensky, and J.D. Vance – Trump told the Ukrainian leader: “You don’t have the cards right now.”

That now appears truer than ever, at a moment the Russians are studying the new US-Ukraine proposal for a 30-day truce in order to jump-start direct negotiations to end the war.

END

RUSSIA UKRAINE

WSJ’s Chief Foreign Correspondent Declares It’s Over For Ukraine In Kursk

Wednesday, Mar 12, 2025 – 12:59 PM

Update(1259ET): It’s a major turning point in the conflict when the Chief Foreign-Affairs Correspondent for The Wall Street Journal declares that Ukrainian forces are now in a full-on withdrawal from Russia’s Kursk amid rapid Russian gains…

https://x.com/yarotrof/status/1899746829052342424?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1899746829052342424%7Ctwgr%5E94eab8968ba5340b1768f837f158fe2c4514947f%7Ctwcon%5Es1_&ref_url=https%3A%

Reuters too is reporting that Ukrainian forces are losing in Kursk:

Ukrainian troops appeared on the point of losing their hard-won foothold inside Russia’s Kursk region on Wednesday as Moscow claimed further advances there and military bloggers on both sides said Kyiv’s forces were withdrawing.

Ukraine sprang one of the biggest shocks of the war on August 6 last year by storming across the border and grabbing a chunk of land inside Russia, boosting citizens’ morale and gaining a potential bargaining chip.

There are no more cards to play, as Trump put it last month while hosting Zelensky at the White House, and now this assessment proves truer than ever.

* * *

Ukraine is losing the little bit of leverage it might have had left amid discussions toward preparing negotiations with Moscow. Russia’s Kursk is now fast being retaken, and Ukrainian forces are folding, as on Wednesday Russian troops raised their flags over the key town of Sudzha .

The central square of the town in the southwestern Kursk region was scene of where Russia’s Airborne Troops published a short aerial video showing soldiers unfurling a Russian flag as well as military unit banners. Other state media outlets subsequently featured the footage. Newsweek has underscored that Ukraine is fast “losing its trump card.”

Moscow has been focusing its forces on to regaining control around Sudzha in recent days, having retaken 12 settlements in the border region earlier this week.

Fighting is said to still be ongoing, but Moscow forces have asserted control over the center. Ukrainian media also acknowledges the following:

Russian troops have launched an offensive on the Ukrainian-controlled town of Sudzha in Russia’s Kursk Oblast, entering the settlement, the DeepState monitoring group, the Institute for the Study of War (ISW), and the Russian state news agency TASS claimed on March 12. Fighting in the town is reportedly ongoing.

…According to DeepState, Russian forces have entered the eastern part of Sudzha and are entrenching their positions. TASS published purported drone footage claiming that Russian troops had entered the town center and raised a Russian flag.

War bloggers have been closely monitoring the fight for control of Sudzha, with Ruslan Leviev of the war monitor Conflict Intelligence Team describing that Ukrainian troops have been in steady retreat from the entire region.

“We’ve seen that all the areas coming under Russian control have been taken with little to no resistance. The same goes for Sudzha,” Leviev said. “Today, we’re seeing them on the opposite side [of the town]. And again, there are no images of any fighting.”

“At this point, it’s fair to say that the entire city of Sudzha is now under Russian control,” he described of the ground situation. 

While months ago Ukrainian forces occupied several hundred square kilometers of Russian territory in Kursk region, as of Wednesday that control has shrunk to less than 200 square kilometers (77 square miles), according to the Ukraine-military linked DeepState war tracker.

Video said to be from on the ground in Russia’s Sudzha, including interviews with elderly Russians that stayed the whole time:

Recall that in the late last month famous Oval Office blow-up involving Trump, Zelensky, and J.D. Vance – Trump told the Ukrainian leader: “You don’t have the cards right now.”

That now appears truer than ever, at a moment the Russians are studying the new US-Ukraine proposal for a 30-day truce in order to jump-start direct negotiations to end the war.

END

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

RFK Jr. Exposes A Truth That Could Bankrupt The Antidepressant Industry

Wednesday, Mar 12, 2025 – 09:15 AM

Via VigilantFox.com,

RFK Jr. is pulling back the curtain on a reality that could shake the pharmaceutical industry to its core: mental health isn’t just about brain chemistry—it’s about what we eat.

“There are studies coming out of Stanford and Harvard that show a lot of mental illness, including anxiety and depression, are related to food… Food is medicine. By changing your diet, you can lose some of those diagnoses,” Kennedy explained to Fox News Host Sean Hannity.

According to Fox News, 40% of teenagers now struggle with anxiety or depression.

Kennedy says this problem isn’t happening everywhere. In the U.S., about 40% of adults are obese, while in Japan, the number sits at just 5%—and they live about seven years longer on average.

The problem? The poison in our food. Over 1,000 ingredients banned in Europe are still allowed in America’s food supply.

“We are letting down these kids. And there is a moral issue here… it’s a financial issue. Health care costs are going to sink us. And the only way that we’re going to solve it is by changing what we eat,” Kennedy said.

Image: https://www.healthsystemtracker.org/chart-collection/u-s-spending-healthcare-changed-time/

America’s food system is making people sick, and Big Pharma is cashing in on the consequences. The good news is that RFK Jr. is raising awareness, and some restaurant chains are taking notice and making real changes.

Steak ’n Shake, for example, has ditched seed oils in favor of beef tallow for frying their food, a move that aligns with Kennedy’s push to eliminate harmful industrial oils from our diet. Sweetgreen has pledged to remove seed oils entirely from its menu, opting for healthier alternatives like avocado oil. Outback Steakhouse is also reportedly reevaluating its ingredients in response to growing consumer demand for cleaner food.

For decades, Americans have been fed a diet filled with ultra-processed junk while being told that pills were the only solution to their health problems. But now, the truth is coming to light: what we eat matters—not just for our bodies, but for our minds.

END

DonaldBest.CA * DO NOT COMPLY on X: “BreakingCanada Confirms Covid Boosters Linked to Death Surge IronWire (formerly Iron Will Report @IronWillRpt ) just published the following video. We’ve posted the transcript below and the video. (As a side note – Once again @OttawaPolice Detective Helen Grus is proven https://t.co/XNgZx2z2wM” / X
This is beyond crazy.

https://x.com/DonaldBestCA/status/1899352139799138412

MARK CRISPIN MILLER

In memory of those who “died suddenly” in the United States and worldwide March 3-10, 2025
Pamela Bach, ‘Baywatch’ actress and David Hasselhoff’s ex-wife, dead at 62

March 6, 2025

Pamela Bach-Hasselhoff has died at 62, Fox News Digital can confirm. Bach-Hasselhoff, who died March 5, was married to actor David Hasselhoff from 1989 until 2006. The TV star’s cause of death is being investigated by the County of Los Angeles Medical Examiner’s office. The actress appeared alongside Hasselhoff in “Baywatch” for 10 seasons and also landed roles in “The Young and the Restless,” “The Fall Guy,” “Sirens” and “Knight Rider.”

Link

Upgrade to paid

Iconic Space Ghost voice actor George Lowe dies aged 67 after mysteriously vanishing off social media

March 4, 2025

Veteran voice actor George Lowe has died at the age of 67. The actor and comedian is most widely known as the voice behind Space Ghost, on the animated series Space Ghost Coast to Coast. In a post to Facebook, longtime friend and broadcaster Marvin Boone revealed that Lowe had died from a long illness.

No cause of death reported.

Link

R&B artist dead at 64 after private battle with bladder cancer

March 8, 2025

D’Wayne Wiggins, a founding member of the R&B trio Tony! Toni! Toné has died. He was 64 years old, his family shared on his Instagram after his passing Friday morning. Wiggins, who founded the group in the 80s, has been privately battling bladder cancer the past year, his family wrote. Wiggins was a vocalist and the bass guitarist of the R&B group, with his brother Raphael Saadiq and their cousin Christian Riley, who Wiggins is survived by.

Link

Aaron Rossi (formerly of Ministry and Prong) has passed away

March 7, 2025

Aaron Rossi, former drummer for the Ministry and Prong, passed away at the age of 44 from “a sudden, severe heart attack”. Rossi, widely known as ‘The Beast,’ performed on Ministry‘s “Adios… Puta Madres” live album in 2009 and “From Beer to Eternity” in 2013.

Link

DJ Funk, trailblazing Chicago ghetto house producer, dies aged 54

March 6, 2025

DJ Funk, the producer who coined the term “ghetto house” and was one of the Chicago scene’s key innovators, has died aged 54. The artist, whose real name was Charles Chambers, had stage four cancer and his family had launched a fundraising appeal to help pay for his funeral this week.

Link

Anthony Brandenburg, 54

March 9, 2025

Anthony “Tony” James Brandenburg, 54, of Minneapolis [MN], passed away unexpectedly at home on Monday, February 24, 2025. He attended Minneapolis College of Art & Design (MCAD) while juggling an illustrious photo career working with magazines such as Time, Sports Illustrated, Newsweek, Glamour, Self and many others. He was co-creator/developer of “365 Things to Avoid in the Twin Cities” and designed over 50 album covers. His designs and campaigns won multiple awards and honors. He was a talented musician and was very well-known in the Minneapolis music scene.

No cause of death reported.

Link

Craig Wolfley cause of death: Former NFL offensive lineman turned broadcaster dies at 66

March 10, 2025

Craig Wolfley, a former NFL offensive lineman who spent most of his 12-year career playing for Chuck Noll in Pittsburgh [PA] and later became a fixture on the Steelers radio broadcast team, has died. He was 66. WDVE-FM in Pittsburgh, where Wolfley worked in various roles during Steeler broadcasts, including most recently as a color commentator, confirmed Wolfley’s death. Wolfley had recently been diagnosed with an undisclosed form of cancer.

Researcher’s Note – WDVE-FM is currently owned by iHeartMedia iHeartMedia Implements COVID-19 Vaccination [sic]/Testing Policy: Link   Steelers, NFL incentivize the COVID-19 vaccine [sic] in an attempt to return to normalcy. Unvaccinated players and team personnel, in essence, will remain under the COVID protocols that were in place for the 2020 season: Link

Link

Legendary Cincinnati anchor/reporter dies

March 3, 2025

Veteran Cincinnati TV sports anchor/reporter Greg Hoard, who served as a Cincinnati Reds beat writer for several years, died Feb. 27. He was 73. Hoard worked the Reds beat during the Pete Rose gambling scandal in the late 1980s. After leaving Fox 19, Hoard served as an editor for Cincinnati Profile and Cincinnati Gentleman magazines.

No cause of death reported.

Link

Beloved Fox News Channel cameraman Craig Savage dead at 61

March 10, 2025

Beloved, longtime Fox News Channel cameraman Craig Savage died at 61 on Sunday after a courageous battle with cancer. Savage joined Fox News on October 3, 1996, four days before the network launched, and has played a key role in its success.

Link

Iowa Native And Father of Influencer Holley Gabrielle, Rick Rojek, Passes Away at 52

March 8, 2025

Rick Rojek, a beloved resident of Iowa, passed away unexpectedly on March 5, 2025, at the age of 52. His sudden passing has left an irreplaceable void in the lives of his family, friends, and all who knew him. Rick’s daughter, Holley Gabrielle Rojek, paid an emotional tribute on social media, writing: “Life is precious. You truly just never know when your entire world is going to flip upside down. Unexpected, no signs & no warning…”

Link

Terri Cornett, former OKC mayor’s wife and arts advocate, dies of cancer

March 7, 2025

Terri Cornett, a prominent Oklahoma civic leader and advocate for the arts, died Thursday after a year-long battle with cancer. Cornett, 65, had been a prominent television executive in Tulsa when she married then-Oklahoma City Mayor Mick Cornett in 2014.

Link

Luther Keith, groundbreaking Detroit journalist and musician, dies

March 6, 2025

Luther Keith, the civic-minded Detroit native who broke racial barriers over a 30-plus-year career with The Detroit News before founding a successful nonprofit and performing as a blues guitarist, has died. He was 74. Mr. Keith died unexpectedly on Wednesday, Mark S. Lee, a longtime friend, confirmed Thursday. He had a regular gig, playing at Baker’s Keyboard Lounge on Livernois in Detroit on the first Tuesday of every month. Manager Karen Wilson said Mr. Keith was there Tuesday and played like usual.

No cause of death reported.

Link

RIP Hal Hirshorn

March 5, 2025

New York, NY – Several EVG readers shared the sad news that Hal Hirshorn, an artist well-known in the downtown community, passed away on Feb. 4. Little had been made public about his death until a feature at The New York Times yesterday. His sister, Harriet Hirshorn, told the paper that the cause of death was coronary artery disease. He was 60. While other artists of his generation rode the art-market boom of the last three decades, he remained aloof, rarely putting his work up for sale at galleries.

Link

A member of Congress “died suddenly”:

U.S. Rep. Sylvester Turner died at the age of 70

March 5, 2025

U.S. Rep. Sylvester Turner died at the age of 70, only a couple of months into his first term as a congressman. Turner, D-Texas, suffered a medical emergency after attending President Donald Trump’s address to Congress, according to a NBC News report. Linda Brown, a spokesperson for Turner, said he was taken to a hospital in Washington Tuesday and died at his home Wednesday morning after being released.

No cause of death reported.

Link

A pastor “died suddenly”:

Michael Orlicky, 69

March 7, 2025

On February 27, 2025, in Redwood City, California, he went to his eternal home after a short illness. Since 1990, Mike pastored Coastside Baptist Church in Half Moon Bay, California.

No cause of death reported.

Link

A lawyer “died suddenly”:’

Remembering Charlie Bliss

March 5, 2025

Atlanta, GA – Charlie Bliss [66] died suddenly while vacationing with his wife, Lisa, in Australia. He spent a large part of his career as a social justice lawyer at Atlanta Legal Aid Society, and worked for decades on behalf of the disabled, the poor and others who were being treated unfairly.

No cause of death reported.

Link

An accountant “died suddenly”:

Steven Michael Jackson, 63

March 4, 2025

Moxee City, WA – Steven Michael Jackson was born April 9, 1962, in Los Angeles, CA. He died of Creutzfeldt-Jakob Disease Monday, February 17, 2025, one month after first seeing symptoms. A mild-mannered accountant by day, Steve transformed into super-hero dad and husband, motocross racer, and hockey aficionado outside the office. Steve had an uncanny ability to break out into motocross talk: whatever the subject, there would be some way for Steve to relate it to motocross. Steve also knew how to fix anything; all it took was his will and several YouTube videos.

No cause of death reported.

<a href=”https://substack.com

PAUL ALEXANDER

‘Trump is creating a recession’; ‘They’re Crushing Us!’ CNBC’s Jim Cramer Flips Out on Trump Over Stock Market — Says He’s ‘Manufacturing’ a Recession; Doocy pokes Trump on DOW drop

Is Cramer over-reacting or is Cramer on to something? What say you? In 20 days the US economy seems to be going from boom to bust? Do you see that Feel that? Is Egan right? the R-word is seemingly

END

SLAY NEWS

EVOL NEWS

NEWS ADDICTS

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

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

WTI Holds Gains After Big Gasoline Inventory Draw, US & OPEC Production Jump

Wednesday, Mar 12, 2025 – 10:42 AM

Oil prices are rising again this morning, despite a surge in OPEC+ production reported for February and also in spite of a large crude build reported by API last night.

The rise comes after the Energy Information Administration on Tuesday said it expects the market to remain under supplied until the third quarter. 

Last month, the agency forecast that inventories would begin rising by the end of June.

A weakening greenback is also supporting prices as the currency suffers from chaotic U.S. trade policy.

“The lack of coherent policies is the primary trigger of the current dollar malaise. Confusion reigns. Will the situation worsen or brighten and the sell-off will change course? Clarity on US economic policies could steady the dollar boat,” PVM Oil Associates noted.

So all eyes on the official data this morning to see if it confirms the big crude build.

API

• Crude +4.25mm
• Cushing
• Gasoline -4.56mm
• Distillates +421k

DOE

• Crude +1.45mm
• Cushing -1.23mm
• Gasoline -5.74mm – biggest draw since Oct
• Distillates -1.559

Crude stocks rose last week (but less than API reported), but it was the major draw in gasoline stocks that caught traders’ eyes…

Source: Bloomberg

For the first time in four weeks, the Trump admin added to the SPR (+275k barrels)…

Source: Bloomberg

US crude production rose back near record highs last week…

Source: Bloomberg

WTI is holding gains above $67 for now…

Source: Bloomberg

OPEC+ crude production surged last month as Kazakhstan, which has long flouted the cartel’s output quotas, further breached its agreed limit.

The alliance’s output climbed by 363,000 barrels a day to just over 41 million barrels a day in February, according to a report from OPEC’s secretariat on Wednesday, preempting the group’s supply revival by two months.

Last week, the coalition led by Saudi Arabia and Russia surprised oil traders by announcing it would press on with long-delayed plans to restore halted output amid pressure from President Donald Trump to reduce fuel prices.

…and as that chart shows, US inflation is set to drop further given the decline in energy prices.

OPEC+ has said it can “pause or reverse” the scheduled series of output increases depending on market conditions, and has just under a month to consider the next hike.

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

CANADA

Bank Of Canada Cuts Rates (As Expected) Amid ‘New US Tariff Crisis’

Wednesday, Mar 12, 2025 – 09:55 AM

The Bank of Canada cut interest rates by a quarter percentage point – as expected – and called the trade battle with the US a “new crisis,” but pushed back on expectations that policymakers were on a predetermined cutting path.

“We’re now facing a new crisis. Depending on the extent and duration of new US tariffs, the economic impact could be severe,” Bank of Canada Governor Tiff Macklem said in prepared remarks of an opening statement.

Macklem called the uncertainty of the tariff dispute “pervasive” and said that it was “already causing harm.” 

Officials said the “continuously changing” US tariff threat was hitting consumers’ spending intentions and limiting businesses’ plans to hire and invest.

At the same time, Macklem said the bank “will proceed carefully with any further changes” to borrowing costs, and officials would “need to assess both the upward pressures on inflation from higher costs and the downward pressures from weaker demand.”

There’s lots of red in the red-line from the prior statement:

Breaking down the details:

Economy

• Past interest rate cuts have boosted consumer spending and business investment, increasing domestic demand in the fourth quarter by a robust
• 5.6%.
• Economic data since our January MPR suggests the Canadian economy ended 2024 on a stronger footing than we expected
• Overall, GDP grew 2.6% in the fourth quarter after upwardly revised growth of 2.2% in the third quarter. This growth path is considerably stronger than we were expecting based on the information we had in January.
• Looking ahead, the trade conflict with the United States can be expected to weigh on economic activity, while also increasing prices and inflation.
• Credit has become more difficult to access for some businesses, and with a weaker Canadian dollar, the cost of imported machinery and equipment has risen.

Job market

• Job growth also strengthened around the end of the year before stalling in February.
• Growth in employment increased in November through January, surpassing labour force growth, and the unemployment rate declined to 6.6%.
• There were also signs that wage growth is moderating.

Inflation

• Inflation has remained close to the 2% target.
• The temporary GST/HST holiday has lowered some consumer prices, but January inflation came in a little firmer than expected at 1.9%.
• Inflation is forecast to increase to about 2/% in March with the end of the tax break.
• It will take some time for the impacts of higher costs and weaker demand to work their way through the economy and affect the prices Canadians will face.
• Governing Council will be tracing the impact of cost pressures through to consumer prices.
• They will also be closely monitoring inflation expectations. Keeping medium- and longer-term inflation expectations well anchored is imperative to ensure any rise in inflation is temporary.
• Our surveys also suggest business intentions to raise prices have increased as they cope with higher costs related to both uncertainty and tariffs. At the same time, inflation expectations have moved up as Canadians brace for the possibility of higher prices.

Tariffs

• The impacts of uncertainty and tariffs on inflation are more difficult to assess.
• Uncertainty that weighs on household and business spending tends to put downward pressure on inflation. And new tariffs will hurt our exports and weaken business investment. But costs are rising too, and this will put upward pressure on inflation.
• A weaker Canadian dollar and new retaliatory tariffs both make imports more expensive. Businesses are also telling them that uncertainty ‘itself imposes new costs.
• While it is too early to see much impact of new tariffs on economic activity, our surveys suggest that threats of new tariffs and uncertainty about the Canada-US trade relationship are already having a big impact on business and consumer intentions.
• Monetary policy cannot offset the impacts of a trade war.

Perhaps most notably, Canadian policymakers also reiterated that there’s a limit to how much they think they can intervene. 

The tariff battle will come with an inflation shock, the bank said, and it will “be tracing the impact of cost pressures through to consumer prices.”

“Monetary policy cannot offset the impacts of a trade war. What it can and must do is ensure that higher prices do not lead to ongoing inflation.”

Macklem concluded by noting that the retaliatory measures and the recent depreciation of the loonie against the US dollar are among the rising costs of the trade dispute.

“A weaker Canadian dollar and new retaliatory tariffs both make imports more expensive. Businesses are also telling us that uncertainty itself imposes new costs.”

All of which is wonderfully ironic given the tough talk from newly crowned globalist PM Mark Carney who was full of piss and vinegar towards Trump’s tariff threats:

“My government will keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade,” Carney said in a statement.

Good luck Mark.

“President Trump’s latest tariffs are an attack on Canadian workers, families and businesses,” Carney said in the statement. 

“My government will ensure our response has maximum impact in the US and minimal impact here in Canada, while supporting the workers impacted.”

The reaction was muted for now in the Loonie…

BoC’s decision comes just minutes after US Commerce Secretary Howard Lutnick discussed the potential for discussions with Canada on tariffs…

And that followed a Bloomberg report that Canada will announce counter-tariffs on about C$30 billion ($20.8 billion) of US-made products on Wednesday, according to people familiar with the matter.  Government officials are expected to announce the details in the next hour. 

END

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

EURO VS USA DOLLAR:  1.0913 DOWN 1 BASIS PTS

USA/ YEN 148.42 UP 0.382 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 1.2932 DOWN 0.0011 OR 11 PTS

USA/CAN DOLLAR:  1.4444 UP 0.0009(CDN DOLLAR DOWN 09 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 7.90 PTS OR 0.23%

 Hang Seng CLOSED DOWN 181.83 PTS OR 0.76%

AUSTRALIA CLOSED DOWN 1.24%

 // EUROPEAN BOURSE:     ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 181.83 PTS OR 0.76%

/SHANGHAI CLOSED DOWN 7.90 PTS OR 0.23%

AUSTRALIA BOURSE CLOSED DOWN 1.24%

(Nikkei (Japan) CLOSED UP 25.98 PTS OR 0.07%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 2919.50

silver:$33.00

USA dollar index early WEDNESDAY  morning: 103.53 UP 26 BASIS POINTS FROM  TUESDAY’s CLOSE.

WEDNESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.383 % UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +1.503% up 1 FULL POINTS AND 1/100  BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.514 UP 2 in basis points yield

ITALIAN 10 YR BOND YIELD 3.947 UP 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.9094 UP 3 BASIS PTS

IMPORTANT CURRENCY CLOSES :  MID DAY WEDNESDAY

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

Euro/USA 1.0887 DOWN .0026 OR 26 basis points

USA/Japan: 148.95 UP 0.893 OR YEN IS DOWN 89 BASIS PTS//

Great Britain 10 YR RATE 4.7845 UP 5 BASIS POINTS //

Canadian dollar UP .0030 OR 30 BASIS pts  to 1.4406

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan DOWN T0 7.2425,  CNY ON SHORE ..CHINA MUST DEVALUE TO GOLD  

THE USA/YUAN OFFSHORE DOWN TO 7.2452:    

TURKISH LIRA:  36.61 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +1.503

Your closing 10 yr US bond yield UP 3 in basis points from TUESDAY at  4.318% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.624 UP 2 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.993 UP 5 BASIS PTS.

GOLD AT 11;00 AM 2911.60

SILVER AT 11;00: 33.02

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

London: CLOSED UP 44.98 pts or 0.53%

GERMAN DAX: UP 347.64 PTS OR 1.56%

Paris CAC CLOSED UP 47.05 or 0.59%

Spain IBEX CLOSED DOWN 73.30 PTS OR 0.57%

Italian MIB: CLOSED UP 608.80PTS OR 1.61%

WTI Oil price  67.31 11 EST/

Brent Oil:  70.57 1:00 EST

USA /RUSSIAN ROUBLE ///   AT:  86.91 ROUBLE DOWN 1 AND  25/ 100      

GERMAN 10 YR BOND YIELD; +2.9095 UP 3 BASIS PTS.

UK 10 YR YIELD: 4.7845 UP 5 BASIS POINTS

CDN 10 YEAR RATE: 3.024 UP 2 BASIS PTS.

CDN 5 YEAR RATE: 2.641 DOWN 0 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0892 DOWN 0.0022 OR 22 BASIS POINTS//HEADING TO PARITY WITH THE DOLLAR

British Pound: 1.2966 UP .0022 OR 22 basis pts/HEADING FOR PARITY /USA

BRITISH 10 YR GILT BOND YIELD:  4.7750 UP 3 BASIS PTS//

JAPAN 10 YR YIELD: 1.501

USA dollar vs Japanese Yen: 148.33 UP .284 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.4377 DOWN 0.0059 BASIS PTS CDN DOLLAR UP 59 BASIS PTS

West Texas intermediate oil: 67.60

Brent OIL:  70.92

USA 10 yr bond yield UP 3 BASIS pts to 4.320

USA 30 yr bond yield UP 3 BASIS PTS to 4.632%

USA 2 YR BOND: UP 6 PTS AT  4.001

CDN 10 YR RATE 3.096 UP 9 BASIS PTS

CDN 5 YEAR RATE: 2.729 UP 9 BASIS PTS

USA dollar index: 103.56 UP 29 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 36.59 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  87.15 DOWN 1 AND  53/100 roubles

GOLD  2933.65 (3:30 PM)

SILVER: 33.23 (3:30 PM)

DOW JONES INDUSTRIAL AVERAGE: DOWN 82.55 OR 0.20

NASDAQ 100 UP 219.06 PTS OR 1.13%

VOLATILITY INDEX: 24.26 DOWN 2.64 PTS OR 9.811%

GLD: $ 270.33 OR UP 1.17 PTS OR 0.43%

SLV/ $30.22 PTS OR UP .26 OR 0.87%

TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 175.14 OR 0.72%

end

TRADING today ZEROHEDGE/J

ZEROHEDGE/HEADLINE CLOSING MARKETS/ZEROHEDGE

‘Bond Yields, Big-Tech, Bullion, & Black Gold Bounce As Stagflation Fears Ease

USA DATA

CPI

This is good for the uSA and Trump

(zerohedge)

Core Consumer Price Inflation Slowest In 4 Years As Energy & Airfare Costs Tumble

Wednesday, Mar 12, 2025 – 08:38 AM

With four times as many data points skewing towards higher February consumer prices than lower ones, whisper numbers into this morning’s CPI print (expected to rise 0.3% MoM) were to the upside (but we note that for the 4th month in a row we were contrarian to that, suggesting prices cool off this month). 

However, headline and core CPI both printed below expectations (+0.2% MoM) which dragged the headline CPI down to +2.8% YoY…

Source: Bloomberg

CPI Highlights:

• The index for shelter rose 0.3 percent in February, accounting for nearly half of the monthly all items increase. The shelter increase was partially offset by a 4.0-percent decrease in the index for airline fares and a 1.0-percent decline in the index for gasoline.
• Despite the decrease in the gasoline index, the energy index rose 0.2 percent over the month as the indexes for electricity and natural gas increased. The index for food also increased in February, rising 0.2 percent as the index for food away from home increased 0.4 percent. The food at home index was unchanged over the month.
• The index for all items less food and energy rose 0.2% in February, following a 0.4% increase in January. Indexes that increased over the month include medical care, used cars and trucks, household furnishings and operations, recreation, apparel, and personal care. The indexes for airline fares and new vehicles were among the few major indexes that decreased in February.

The miss also pulled Core CPI YoY down to +3.1% – its lowest since April 2021

Source: Bloomberg

Core CPI Details:

• The shelter index increased 0.3 percent over the month.
  • The index for owners’ equivalent rent rose 0.3 percent in February, as did the index for rent.
  • The lodging away from home index increased 0.2 percent in February.
  • Shelter inflation up 0.36% MoM, up 4.247% YoY, lowest since Dec 2021
  • Rent inflation up 0.26% MoM, up 4.09% YoY, lowest since Jan 2022

• The medical care index increased 0.3 percent over the month. The index for physicians’ services increased 0.4 percent in February and the index for hospital services rose 0.1 percent over the month.
  • The prescription drugs index was unchanged in February
• The used cars and trucks index rose 0.9 percent in February.
• The index for new vehicles also declined over the month, falling 0.1 percent.
• The index for household furnishings and operations rose 0.4 percent over the month and the index for recreation increased 0.3 percent.
• Other indexes that increased in February include apparel, personal care, and motor vehicle insurance. In contrast, the index for airline fares fell 4.0 percent in February, after rising 1.2 percent in January.

Goods ‘inflation’ is basically negligible currently while Services cost inflation is continuing to fall rapidly…

Source: Bloomberg

Energy and Transportation costs are tumbling (Drill baby drill?)

The so-called SuperCore CPI (Services ex-Shelter) also fell to its slowest rate since Oct 2023…

Source: Bloomberg

Tranportation costs’ tumble led SuperCore lower…

And drilling down further, it was airfares that led that the disinflationary impulse…

On a 3m and 6m annualized basis, energy costs are still driving CPI higher…

…But traders should expected both CPI and PPI Energy to keep tumbling as oil prices have fallen…

Source: Bloomberg

So what happens next?

Is this just the ammo needed to spark a huge short squeeze higher?

USA ECONOMIC NEWS/USA

Dealmaker, Peacemaker, President

Tuesday, Mar 11, 2025 – 04:20 PM

Authored by John J. Waters via RealClearWorld,

“What the f— are we doing here?” asked President Trump in the summer of 2017.

Nearly a year into his first term, Trump’s national security adviser had just proposed sending an additional 3,000 to 5,000 troops to Afghanistan, prompting his boss’s frustration that his Cabinet still hadn’t gotten the message. Trump had repeatedly conveyed that he wanted to end the war in Afghanistan, not prolong it.

Between 2012 and 2013, Trump tweeted about the loss of lives, waste of taxpayer dollars, and apparent absence of a strategy to get any value from our investment in the country.

 “Afghanistan is a total disaster,” Trump said in 2012. “We don’t know what we are doing. They are, in addition to everything else, robbing us blind.”

“Rebuild the U.S. first. Our government is so pathetic that some of the billions being wasted in Afghanistan are ending up with terrorists.”

The $50 billion we poured into Afghanistan annually was having little effect on the country’s long-term security, and it fueled corruption at the highest levels of Afghan government and military. America committed time, troops, and money to a country and, somehow, got nothing in return beyond a vague sense that America was “safer” for having fought the war. For a dealmaker like Trump, these terms were worse than unfair, they were unconscionable—all benefits of the bargain went to them, none to us.

“How does this end?” Trump asked Senator Lindsey Graham, mulling his options.

It never will, Graham replied.

“It’s good versus evil. Good versus evil never ends. It’s just like the Nazis. It’s now radical Islam. It will be something else one day.”

Eight years later, Afghanistan finally behind us, a similar scenario is playing out in Ukraine. And while some on the Right have gotten the message – Senator Graham among them – others have not. Prominent conservative journalists and politicians continue to argue that we must stop at nothing to secure Ukraine, in order to sometime down the road protect the United States.  

After Russia invaded Ukraine in February 2022, many assumed it would be mere months, if not weeks, before Russia seized control of the entire country. But after three years of fighting, Putin has secured roughly 20 percent of Ukraine – failing to control key terrain used in previous centuries as avenues of approach into western Russia – and failing to reconstitute his strategic buffer against Europe. America feared during the Cold War that the Soviet Union would dominate Europe in a land war. However, Russia’s failure to meet its objectives in Ukraine has given us a much better understanding of the ledger of power between Russia and Europe.  

None of this surprises Trump, who has seized an opportunity to end the war, promising America and the world that he can deliver peace.

“Our concern is that this has become a war of attrition that’s going to kill a whole generation of young men,” Trump’s advisers said last summer.

The ceasefire terms laid out by Trump’s team set a framework for “America first” dealmaking rather than confrontation with Russia. How, they asked, do we end the war in a way that benefits America and the world? The answer seemed clear: end the fighting along the current battle lines; permit Russia to retain territory under its control; give Europe the lead in securing Ukraine, but stop short of its admission into NATO; and partner with Ukraine in the form of a bilateral mining deal.

Unlike members of his first Cabinet, those in Trump’s current Cabinet understand the message and amplify it to the world. Defense Secretary Pete Hegseth last month told NATO members that reverting to Ukraine’s pre-2014 borders was “unrealistic,” and that the United States “does not believe that NATO membership for Ukraine is a realistic outcome of a negotiated settlement.” Trump reiterated Hegseth’s position, saying NATO membership for Ukraine wasn’t practical, and it is unlikely Ukraine will get back all of its land.

Europe is beginning to get Trump’s message, too.

While French President Emmanuel Macron and British Prime Minister Keir Starmer mediate between Trump and Ukrainian President Zelensky, German Chancellor-in-waiting Friedrich Merz publicly acknowledged that Europe “must achieve independence from the U.S.” Europe can start by mobilizing some of the $200 billion in frozen Russian assets to help secure and rebuild Ukraine after the war.

Still, there is resistance to change within Trump’s own party, as politicians, journalists, and pundits advocate the neoconservative point of view that war in Ukraine is existential — the latest chapter in the never-ending struggle between good and evil.

Chief among these advocates is Douglas Murray, a British journalist who defines neoconservatism as a “sense, an instinct, a way of looking at the world” that blends idealism and realism. “We look at the world as it is, but act in the world to make it as we would like it to be,” Murray says.

Murray sees Ukraine not through Trump’s realist prism of what is achievable, what gain can be extracted, and how to generate maximum benefit for America, but through the more mythical archetypes of good (in this case Ukraine) and evil (Russia). He disparages Trump conservatives as admirers of Putin who believe Ukraine “isn’t a real country, that the Ukrainians aren’t a real people.” He asserts that American money to fund the war should continue to flow, and that ceding “even a square mile” of Ukrainian territory will be a victory for Putin.

“If you oppose sending American troops around the world, and you oppose arming countries for their own survival, then do you have any remaining foreign policy at all?” Murray wrote in a 2023 piece published by National Review.

The call to perpetual war has come not only from Europe and the United Kingdom. Among those joining Murray’s argument is Congressman Mike Flood (R-NE). In a recent article published in Newsweek, Flood wrote that any peace deal must “roll back Russia’s land grab, return kidnapped Ukrainian children, and ensure that America’s alliance with NATO remains strong.”

Certainly, these are noble and idealistic goals, but they contradict the president’s terms for settlement, and would exact a huge cost on the United States.

First, rolling back territory gained by Russia would likely require a commitment of American troops, and a willingness to sacrifice American lives. That is something Secretary Hegseth has said is off the table. Second, though repatriation of kidnapped Ukrainian children is a worthy, long-term goal, demanding this as a condition for peace will prolong the war and cause more death and suffering for the people of Ukraine and Russia. Third, a requirement that “America’s alliance with NATO remains strong” seems beyond our explicit control, not to mention that it fails to consider whether a Europe-led NATO is sufficiently strong to safeguard peace in Ukraine, as many believe the United States must turn its strategic attention to China and the western Pacific.

Murray, Flood, and others who advocate the neoconservative philosophy have overstated the threat posed by Russia while sentimentalizing Ukraine. We should commend Ukraine’s soldiers for fighting valiantly and successfully to defend their homeland, while acknowledging the Ukrainian regime has its own problems with graft, corruption, and malfeasance dating back at least to the Maidan Revolution in 2014. Similar to Afghanistan, funneling endless amounts of money into Ukraine fuels corruption in the system, and removes reality-based incentives to negotiate in good faith.

Because American foreign policy is rooted in interests before values, there are countless examples where the United States has dealt shrewdly with adversaries or competitors in pursuit of shared interests. The situation in Ukraine is no different. As President Trump negotiates a deal between Russia and Ukraine, conservatives must embrace the transition from war to peace on reasonable terms that maximize benefits to America and the world. 

John J. Waters is a lawyer. He served as a U.S. Marine and a deputy assistant secretary of Homeland Security from 2020-21. Follow him at @JohnJWaters1 on X. 

VICTOR DAVIS HANSON

USA/PERVASIVE ANTISEMITISM

SWAMP STORIES FOR YOU TONIGHT

FBI Redactions On Seth Rich Index Leave No Answers

Tuesday, Mar 11, 2025 – 06:25 PM

Authored by Joe Lauria via Consortium News,

The attorney in the freedom of information case against the Federal Bureau of Investigation seeking the contents from the computers of a murdered staffer of the Democratic National Committee has criticized the number of redactions in the index that the bureau turned over to the court late Monday night.

“Lots of things in the Seth Rich indexes don’t pass the smell test,” wrote Ty Clevenger, the attorney for Brian Huddleson, a Texas businessman, who filed a Freedom of Information Act request in September 2017 seeking to learn whether Rich was the source of WikiLeaks’ 2016 publication of DNC emails that impacted that year’s U.S. presidential election.  Huddleson sued the F.B.I. in June 2020 after the bureau turned down his request. 

Rich, who was the DNC’s voter expansion data director, was murdered on a Washington D.C. street in the early morning hours of July 10, 2106, 12 days before WikiLeaks released its DNC emails and 15 days before the start of the DNC convention on July 25, 2016.  The case has never been solved.

Suspected WikiLeaks Link

The suspicion that Rich may have been WikiLeaks’ source arose when Julian Assange told a Dutch TV interviewer two weeks later on Aug. 10, 2016 that:

“Whistle-blowers go to significant efforts to get us material and often very significant risks. As a 27-year-old, works for the DNC, was shot in the back, murdered just a few weeks ago for unknown reasons as he was walking down the street in Washington.”

Pressed by the interviewer to say whether Rich was the source of the DNC emails, Assange said WikiLeaks never reveals its sources. Yet, it appeared to be an indirect way of naming Rich, while formally maintaining WikiLeaks‘ policy.

(Assange could also have been cynically using Rich’s death to divert the trail from the real source. Rolling Stone magazine reported in November 2019 that lawyer’s for Seth’s brother Aaron had tried to subpoena WikiLeaks and Assange to depose them on evidence of Seth’s involvement but were unable to.)

On the same day of the Dutch TV interview, WikiLeaks offered a $20,000 reward for information leading to the solution of the mystery of who killed Rich.

The suspicion was furthered when an audio recording of investigative reporter Sy Hersh, taped without his knowledge, was posted online on Aug. 1, 2017.

“What I know comes off an F.B.I. report. Don’t ask me how. You can figure it out, I’ve been around a long time,” Hersh says on the tape. “I have somebody on the inside who will go and read a file for me. This person is unbelievably accurate and careful, he’s a very high-level guy and he’ll do a favor. You’re just going to have to trust me.”

The F.B.I. cyber unit got involved after the D.C. police were unable to access protected files on Rich’s computer, Hersh said. So the F.B.I. “found what he’d done. He had submitted a series of documents, of emails. Some juicy emails from the DNC,” to Wikileaks, Hersh said.

“He offered a sample, an extensive sample, you know I’m sure dozens of emails and said ‘I want money.’ Then later Wikileaks did get the password, he had a Dropbox, a protected Dropbox,” Hersh said. He went on:

“Wikileaks got access, and before he was killed … he also, and this is also in the F.B.I. report, he also let people know, with whom he was dealing. … I don’t know how he dealt with the Wikileaks and the mechanism but … the word was passed according to the NSA report, ‘I’ve also shared this box with a couple of friends so if anything happens to me it’s not going to solve your problem.’”

WikiLeaks posted a link to the Hersh audiotape on Twitter on the day it was released. Hersh has since backed away from making those remarks and refuses to discuss it.

Kim Dotcom, the internet entrepreneur who was close to WikiLeaks and Assange told Consortium News in an interview that he was the middleman between Rich and WikiLeaks, after Rich had contacted him. 

And the Veterans Intelligence Professionals for Sanity ran a test led by William Binney, a former technical director of the National Security Agency, which showed that the DNC emails had to be locally downloaded and not sent over the internet. 

The NSA, Binney argues, would have a record of a Russian hack of the emails, which it has never produced, despite the mainstream belief, based in part on an unproven U.S. indictment, that Russian military intelligence, and not a DNC insider, had stolen the emails and given them to WikiLeaks.

If Rich communicated with someone at WikiLeaks or with Dotcom a record of those emails or messages would presumably be found on either his work or personal computer. It is that information that Huddleson sought to obtain with his FOIA request.

Reasons for Withholding Information

It took nearly five years battling in court for the F.B.I. to finally turn over a so-called Vaughn Index of files found on Rich’s laptops and only after a judge’s order last November. This is just a list, not the content, of the files, (some with brief descriptions some without, some with dates and some without), and the reasons why the F.B.I. is withholding them from the public. 

Files that have dates are mostly not in chronological order making it difficult to create a timeline. 

The reasons the bureau gave for withholding Rich files were mostly to “protect a person’s personal privacy” and to not “interfere with law enforcement proceedings or investigations.”  These reasons were given on Rich files described as “Written School Assignment, Essay or Term Paper;” “Cover Letter;” “Resume;” “Job Posting;” “Campaign Organization Chart;” and even a “Poem” and a “Birthday Party Menu,” which were withheld.

Yaacov Apelbaum, a technical expert for the plaintiff, says that redacting a file called “Chart of Calls Made and Shifts Scheduled” because it supposedly could interfere with law enforcement suggests “evidence of coordination or activity the FBI does not want exposed.”

He said the redacted “List of Events by Date and Time” file “could suggest organized activities or misconduct.” “Roster of Names and Phone Numbers” “may contain associates, informants, or persons of interest that the FBI is protecting” or “indicates repeated efforts to hide individuals connected to a case,” Apelbaum said.

Clevenger tweeted, somewhat sarcastically it seems: “A lot to sort through here. They’re withholding his job offer letter from the DNC, for example, ‘to protect information, that if disclosed, could reasonably be expected to interfere with law enforcement proceedings or investigations.’ So the DNC is a suspect in his murder?” 

Clevenger told Consortium News in an email: “We will definitely challenge the indexes. The small number of files in the indexes indicates one of two things: files have been deleted or files have not yet been accounted for. Even the files listed in the indexes have been redacted excessively.” 

Binney went further in his reaction to the released index, telling an email group:

“Where’s the index of all the email? Further, where are the emails? … They only show an index of a few email from November and December of 2012. Guess they don’t want to show any connection to Wikileaks. This is a major issue for KP [F.B.I. Director Kash Patel] – coverup of criminal activity.”

Joe Lauria is editor-in-chief of Consortium News and a former U.N. correspondent for The Wall Street Journal, Boston Globe, and other newspapers, including The Montreal Gazette, the London Daily Mail and The Star of Johannesburg. He was an investigative reporter for the Sunday Times of London, a financial reporter for Bloomberg News and began his professional work as a 19-year old stringer for The New York Times. He is the author of two books, A Political Odyssey, with Sen. Mike Gravel, foreword by Daniel Ellsberg; and How I Lost By Hillary Clinton, foreword by Julian Assange.

END

“Shred And Burn All Documents”: USAID Staff Ordered To Destroy Evidence On Tuesday

Tuesday, Mar 11, 2025 – 06:50 PM

A senior USAID official on Tuesday ordered the agency’s remaining staff to report to their now-former headquarters in Washington DC for an “all day” group effort to destroy documents, many of which contain sensitive information, Politico reports.

The materials marked for destruction include “classified safes and personnel documents” at the Ronald Reagan Building, according to an email sent by USAID’s acting executive director, Erica Carr.

“Shred as many documents first, and reserve the burn bags for when the shredder becomes unavailable or needs a break,” read the email instructing staff to label the burn bags with “SECRET” and “USAID/B/IO” (which stands for “bureau or independent office”) in dark sharpie.

According to the report, the email did not provide any reasoning for the document destruction, however the building is currently being emptied out after mass layoffs, which may have disrupted the routine destruction of materials. 

The effort also underscores the tumultuous way in which the Trump administration is dismantling an agency that once managed a $40 billion annual budget and had more than 10,000 staff around the world.

Efforts by Musk’s Department of Government Efficiency last month to access secure computer systems at USAID — including information about employees’ security clearances — triggered an uproar at the agency that prompted the administration to place two of the agency’s security staff on administrative leave. A DOGE spokesperson subsequently said that there was no improper access to classified material. –Politico

According to a former USAID staffer, “I’ve never seen something like this — en masse. Everyone with a safe is supposed to keep it up to date and destroy documents when they no longer need to be stored. Sometimes security will check your safe and tell you if you have to clean out old material.”

Developing…

END

House Passes Full-Year Stopgap As Democrat Crosses Party Lines, Massie Votes ‘No’

Tuesday, Mar 11, 2025 – 06:03 PM

Update (1755ET): The House passed the stopgap resolution on Tuesday to avert a partial government shutdown and fund federal agencies through September.

House Speaker Mike Johnson (R-LA) was able to convince most Republicans to vote for the bill, with the exception of Rep. Thomas Massie (R-KY), while one Democrat – Jared Golden (D-ME) joined the Republicans in passing the measure which increases security spending by $4.4 billion, contains a $440 million boost for immigration enforcement, and cuts the IRS budget by $20 billion.

It also prevents Washington DC from spending $1 billion of its own tax dollars, and allows the Pentagon flexibility to buy new weapons – an odd provision in a stopgap bill that was demanded by GOP defense hawks.

The bill also has no new limits on DOGE, and does not prevent agency heads from firing federal workers or canceling federal grants and contracts – actions which are currently being challenged in the courts in what critics argue amount to illegal impoundments of money approved by Congress.

The bill passed in a 217 – 213 vote, and will now move to the Senate, where it needs at least 60 votes to pass – meaning around 10 Democrats will need to cross party lines.

Moderate Senate Democrats, including Jeanne Shaheen of New Hampshire, Jacky Rosen of Nevada, and Mark Kelly of Arizona have given no indication on how they’ll vote, while Sen. John Fetterman (D-PA) said he would support it.

If a Saturday shutdown does occur, the White House budget office would have the flexibility to decide which federal workers are furloughed (and would receive backpay) and which essential staff must continue in their positions without pay. The military would remain on duty without pay until the shutdown was over.

*   *   * 

Update (1240ET): JP Morgan has weighed in with the usual ‘government shutdowns have meant little to the economy with the 5-week shutdown during 2018-19, real GDP fell by $11bn though $8bn was recovered after the gov’t reopened,’ however the bank does note that ‘equities have tended to fall in the days leading up to a shutdown before recovering all loses and resuming their trend higher,’ while concluding “The setup is different this time and a gov’t shutdown is likely not on many investors’ radar.”

Oh, fun…

*  *  *

With three days remaining before the next shutdown, the House is expected to pass a stopgap funding package on Tuesday after the House Freedom Caucus agreed to back it – which means Speaker Mike Johnson (R-LA) may be able to pass the bill, which would fund the government until September – without the help of Democrats.

That said, despite the Freedom caucus’ buy-in, Johnson still has several GOP holdouts – with the only one to go public being Rep. Thomas Massie (R-KY) – who President Donald Trump dragged on social media, calling for him to be primaried, and comparing him to Rep. Liz Cheney.

On Sunday, Massie said on X “I’m not voting for the Continuing Resolution budget (cut-copy-paste omnibus) this week,” adding “Why would I vote to continue the waste fraud and abuse DOGE has found?”

To which Trump replied on Truth Social: “Congressman Thomas Massie, of beautiful Kentucky, is an automatic ‘NO’ vote on just about everything, despite the fact that he has always voted for Continuing Resolutions in the past,” Trump said. “HE SHOULD BE PRIMARIED, and I will lead the charge against him.”

To which Massie then replied: “Someone thinks they can control my voting card by threatening my re-election. Guess what? Doesn’t work on me.”

Also potentially on the fence Punchbowl reports that Reps. Kat Cammack (R-FL) and Beth Van Duyne (R-TX) both raised concerns over the measure during a GOP whip meeting on Monday.

END

KINGNEWS

GREG HUNTER INTERVIEWING LARRY KLAYMAN

70 Deep State Court Cases Try to Stop Trump – Larry Klayman

By Greg Hunter On March 12, 2025 In Political AnalysisNo Comments

By Greg Hunter’s USAWatchdog.com

Renowned Attorney Larry Klayman, founder of Judicial Watch and now Freedom Watch USA, says there is a full-blown, legal civil war happening in the court system.  The Left is using lawfare and Democrat judges to try to stop Trump and his MAGA agenda to drain the swamp.   Team Trump is fighting back with a loyal team in his cabinet to stop everything from fraud discovered by DOGE to unfair DEI policies.  Klayman says, “You have a House Judiciary Committee whose job it is to oversee these judges run by Jim Jordan. . . . He hasn’t called one judge in front of the Judiciary Committee in eight years.  He has not tried to impeach one judge.  They need to be held to account.  They need to have the fear of God put in them because they think they can do whatever they want.  They are thwarting virtually every one of President Trump’s Executive Orders.  I am preparing a list that I am going to put up on FreedomWatch.org.  There are 70 cases and maybe close to 80.  I am listing what they are about, the judges, who appointed them and the subject matter.  90% of them are Leftist Democrats appointed by Biden, Obama or Clinton.  A few of them were appointed by George W. Bush, who did not appoint very good judges.  The Republicans up on that bench are RINOs.  This is a big problem.  The federal judges are the biggest threat to our democracy of any group of people in our country.  They wield tremendous power.”

The Trump Administration is fighting back in the form of stopping the fraud and waste, coming prosecutions and pulling back the curtain in the Biden Administration.  Was Biden competent to sign pardons and bills or was someone else doing that illegally?  It is now widely reported that Joe Biden had cognitive impairment.  Klayman says, “If people are signing things with what is called an ‘auto pen,’ then it is most likely he did not even know what he was signing.  That means pardons are invalid, legislation is invalid and everything he potentially did is invalid.  We know he had these ultra-Leftists around him in the White House.  They were Obama carryovers such as Valerie Jerrett and Antony Blinken.  We have a number of others who probably signed stuff for Biden.  Some thought that maybe they put it in front of him and he signed it, but apparently not.  So, all the stuff he did up there is likely invalid.”

Klayman says this is really organized crime in the White House.  Klayman contends, “This is RICO and everything else.  It’s misappropriation of taxpayer money.  It’s treason.  You name it.”

Klayman thinks that Ilhan Omar needs to be deported because he says she married her brother and she lied on her immigration documents.  Klayman says there are rumors that some judges on the Supreme Court are compromised, and that is why you’ve got this recent SCOTUS ruling for $2 billion in USAID money to be released without investigating if fraud and theft were involved.  Klayman thinks that some judges on the highest court in the land are being blackmailed into ruling the way the Deep State wants.

In closing, Klayman predicts that many D.C. law firms will be stripped of their government security clearances.  So far, there have been two big Washington D.C. firms this has happened to recently.  Klayman says, “I want to form a department of legal anti-weaponization just like Trump has DOGE. . .. These law firms perpetuate the corruption in government.  What Trump did this week was to take away their security clearances and to also bar them from federal contracts.  He emasculated them.  He castrated them essentially.  There are many more big law firms throughout the country that need to get their comeuppance.  The judges protect the lawyers.  The lawyers protect the judges, and they all protect themselves.  This is why dishonesty and corruption are perpetuated, and this is the most dishonest profession in this country, and I can tell you this as a lawyer of 48 years.”

There is more in the 66-minute interview.

FreedomWatchUSA.org desperately needs your financial support.  To donate, click here.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with renowned lawyer and government corruption fighter, Larry Klayman, founder of FreedomWatchUSA.org as he updates us on Team Trump and how the Deep State is fighting back while DOGE uncovers massive fraud with government books.

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After the Interview: https://usawatchdog.com/70-deep-state-court-cases-try-to-stop-trump-larry-klayman/

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