MAY 1/THE RAID ON OUR PRECIOUS METALS CONTINUES WITH CHINA OFF ON MAY DAY HOLIDAY: GOLD CLOSED DOWN $92.45 TO $3216.90//SILVER WAS DOWN 43 CENTS TO $32.22/PLATINUM WAS DOWN $4.60 TO $965.15 WHEREAS PALLADIUM WAS DOWN ONLY 5 CENTS TO $944.25/GOLD COMMENTARY TONIGHT FROM PETER SCHIFF//ISRAEL VS HAMAS UPDATES; MAJOR STORY THE HUGE FIRES BURNING SURROUNDING JERUSALEM AND THE WEST BANK//UKRAINE SIGNS THE DEAL WITH THE USA FOR RARE EARTHS AND THUS A DEPARTURE AS UKRAINE MUST PAY THE USA FOR THEIR AID//COIVD UPDATES/MARK CRISPIN MILLER/SLAY NEWS/PMI’S IN THE USA DISAPPOINT, YET ISM MANUFACTURING BEATS EXPECTATIONS//SWAMP NEWS FOR YOU TONIGHT//
190 H BMO CAPITAL MARKETS 32 323 C HSBC 14 332 H STANDARD CHARTERED B 32 435 H SCOTIA CAPITAL (USA) 2 624 H BOFA SECURITIES 2 661 C JP MORGAN SECURITIES 10 686 C STONEX FINANCIAL INC 53 6 709 C BARCLAYS 4 726 C PLUS500US FINANCIAL 1 737 C ADVANTAGE FUTURES 18 11 880 H CITIGROUP 62 905 C ADM 23
TOTAL: 135 135 MONTH TO DATE: 9,278
jpmorgan stopped: 10/135
MAY
GOLD: NUMBER OF NOTICES FILED FOR MAY/2024. CONTRACT: 135 NOTICES FOR 13,500 OZ 0.4197 TONNES
total notices so far: 9278 contracts for 927,800 OR 28.358 tonnes)
FOR MAY
XXXXXXXXXXXXXXXXXX
SILVER NOTICES: 925 NOTICE(S) FILED FOR 4.625 MILLION OZ/
total number of notices filed so far this month : 12,617 CONTRACTS (NOTICES) for 63.085 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD DOWN $92.45 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD:
HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.87 TONNES OF GOLD INTO THE GLD
INVENTORY RESTS AT 944.26 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $.43 AT THE SLV: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: ////A DEPOSIT OF 0.683 MILLION OZ INTO THE SLV//
CLOSING INVENTORY RESTS AT:
CLOSING INVENTORY: 454.972 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A MEGA HUGE SIZED 14,813 CONTRACTS TO 137,856 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR LOSS OF $0.65 IN SILVER PRICING AT THE COMEX WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A HUGE SIZED LOSS OF 14,365 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A GOOD 341 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD A HUGE LIQUIDATION OF T.A.S. CONTRACTS COMEX TRADING WEDNESDAY SPRINKLED WITH FINALIZATION OF MONTH END SPREADERS AS THEY DESPERATELY AGAIN 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 TO ABOVE $34.40 AND TO QUELL ADDITIONAL DERIVATIVE LOSSES TO OUR BANKERS’ MASSIVE TOTALS). THEY SUCCEEDED ON WEDNESDAY WITH SILVER’S LOSS IN PRICE BUT THE PRICE IS STILL WELL BELOW THE MAGIC NUMBER OF $34.40 SILVER SPOT PRICE. . BUT THIS WAS COUPLED WITH A STRONG T.A.S. ISSUANCE OF 545 CONTRACTS ISSUED BY THE CME AND THAT SIGNALS DEEP CODE RED THAT THE CROOKS ARE DESPERATE TO STOP SILVER BREAKING OVER THE 34.40 DOLLAR MARK. THUS OUR RAIDS ON OUR PRECIOUS SILVER METAL WILL CONTINUE UNTIL SILVER BREAKS $34.40. WE HAD A GOOD 341 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR STRONG 545 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN THURSDAY’S LONDON/.OTC OPTIONS EXPIRY TRADING/ AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE LOST A HUGE SIZED 14,472 CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSS IN PRICE OF $0.65.
THE CME NOTIFIED US THAT TODAY WE HAD A MEGA HUGE 2439 CONTRACTS OF THOSE CRAZY EXCHANGE FOR RISK CONTRACTS ISSUED FOR 12,195,000 OZ. THESE EXCHANGE FOR RISKS MUST NOW BE ADDED TO OUR NORMAL DELIVERY SCHEDULE. THUS FOR THE MONTH OF MAY WE HAVE A TOTAL OF 12.195 MILLION OZ OF EXCHANGE FOR RISK ISSUED ON OUR FIRST OCCASION. THE RECIPIENT OF THIS LARGESS IS PROBABLY THE CENTRAL BANK OF INDIA.
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 ESPECIALLY SILVER IS NOW USED TO TEMPER OUR SILVER 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 $34.40 . THE KEY PRICE TO WATCH IS $34.40. IF IT BREAKS THAT PRICE, THEN WE HEAD FOR $50.00 SILVER.
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 WEDNESDAY NIGHT/THURSDAY MORNING: A GOOD 363 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES
WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.65) AND WERE UNSUCCESSFUL IN KNOCKING OFF CONSIDERABLE NET SILVER LONGS FROM THEIR PERCH AS DESPITE HAVING A LOSS IN PRICE, WE LOST A MEGA HUGE 14,365 CONTRACTS IN OPEN INTEREST FROM OUR TWO EXCHANGES.
WE HAD A GOOD 341 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 67.830 MILLION OZ TO WHICH WE ADD OUR 219 CONTRACT QUEUE JUMP OF 1.095 MILLION OZ AND THEN WE MUST ADD THAT CRAZY 2,459 CONTRACT EXCHANGE FOR RISK FOR 12.195 MILLION OZ
INITIAL STANDING FOR MAY: 67.830 MILLION OZ PLUS 1.095 MILLION OZ (QUEUE JUMP) + 12.195 MILLION OZ (EX FOR RISK) EQUALS 81.11 MILLION OZ./
WE HAD:
/ MEGA HUGE COMEX OI LOSS+// A GOOD SIZED EFP ISSUANCE (341 CONTRACTS)/ VI) STRONG SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 545 CONTRACTS)
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 107 CONTRACTS.
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS APRIL. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF MAY
TOTAL CONTRACTS for 1 DAY, total 341 contracts: OR 1.705 MILLION OZ (341 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 1.705 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: 67.020 MILLION OZ///QUITE SMALL AND BECOMING SMALLER EACH AND EVERY MONTH.
APRIL: 100.895 MILLION OZ///AVERAGE SIZE ISSUANCE
MAY: 1.705 MILLION OZ
XXXXXXXXXXXXXXXXXXXXXXXXXXXX
RESULT: WE HAD A MEGA HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 14,813 CONTRACTS WITH OUR LOSS IN PRICE OF $0.65 IN SILVER PRICING AT THE COMEX// WEDNESDAY.,. . THE CME NOTIFIED US THAT WE HAD A GOOD 341 CONTRACT EFP ISSUANCE CONTRACTS: 341 ISSUED FOR JULY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE FINISHED APRIL WITH A STRONG SILVER OZ STANDING OF 15.965 MILLION OZ NORMAL DELIVERY , PLUS OUR 4.00 MILLION EX FOR RISK
FINAL STANDING APRIL: 19.965 MILLION OZ
NEW INITITAL STANDING FOR MAY: 67.830 MILLION OZ. PLUD 1.095 MILLION OZ QUEUE JUMP + 12.195 MILLION OZ EXCHANGE FOR RISK ISSUANCE.
THE NEW TAS ISSUANCE WEDNESDAY NIGHT (545 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND FOR SURE THURSDAY TRADING.
WE HAD 925 NOTICE(S) FILED TODAY FOR 4.625 million OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL. IT IS NOW TIME FOR THE FBI TO ENTER THE COMEX AND ARREST THESE CROOKS EVEN THOUGH THE MAJORITY OF THE TRADING IS GOVERNMENT. THE BANKERS ARE COMPLICIT
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A STRONG SIZED 9017 OI CONTRACTS TO 442,851 AND FURTHER FROM 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.) THUS WE HAVE A PRETTY LOW OI IN COMEX WITH AN EXTREMELY HIGH PRICE OF GOLD. THE SHORT RATS ARE ABANDONING THE SHIP.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED A SMALL 83 CONTRACTS //.
WE HAD A STRONG SIZED DECREASE IN COMEX OI (9017 CONTRACTS) . THIS OCCURRED DESPITE OUR LOSS OF $14.05 IN PRICE WEDNESDAY. ON WEDNESDAY/APRIL 17 WE HAD THE HIGHEST EVER SINGLE NOMINAL GAIN IN COMEX GOLD PRICING HISTORY AT $106.35 GAIN.. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUMONGOUS INITIAL STANDING IN GOLD TONNAGE FOR APRIL AT 164.7185 TONNES (CME CORRECTED//) TO WHICH WE ADDED
+ 8.3571 TONNES EX FOR RISK = 209.953 TONNES
FINAL STANDING FOR APRIL; 201.443 TONNES + 8.3571 TONNES EX FOR RISK = 209.800 TONNES
INITIAL STANDING FOR MAY: 29.135 TONNES OF GOLD!
/ ALL OF THIS HAPPENED WITH OUR $14.05 LOSS IN PRICE WITH RESPECT TO WEDNESDAY’S COMEX ///. WE HAD A STRONG SIZED LOSS OF 7388 OI CONTRACTS (22.97 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 MARCH CONTRACT MONTH AND THE SAME FOR APRIL AND NOW MAY. CENTRAL BANKERS ARE NOW WAITING PATIENTLY FOR THEIR DELIVERY OF GOLD VIA SLOW MOVING SHIPS. WE HAVE A MASSIVE AMOUNT OF TONNES STANDING FOR GOLD IN MAY.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1629 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 442,851/NOW AT THE LOW END OF THE SCALE DESPITE THE HIGH PRICE OF GOLD!!
SILVER ALSO HAS A LOW COMEX OI OF 137,856 CONTRACTS!!
IN ESSENCE WE HAVE A STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7388 CONTRACTS WITH 9017 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 1629 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 7388 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED AND CRIMINAL 1607 CONTRACTS ISSUED. WE HAD CONSIDERABLE T.A.S. LIQUIDATION AND MONTH END SPREADER LIQUIDATION DURING THE COMEX SESSION WEDNESDAY WHICH ACCOUNTS FOR SOME OF THE LOSS IN PRICE
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1629 CONTRACTS) ACCOMPANYING THE STRONG SIZED DECREASE IN COMEX OI OF 9017 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 7388 CONTRACTS..WE HAVE 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) STRONG STANDING FOR GOLD FOR MAY AT 29.135 TONNES ( WHICH WHICH INCLUDES OUR .6967 TONNES QUEUE JUMP)
NEW STANDING FOR GOLD, MAY CONTRACT: 29.135 TONNES OF GOLD.
.
/ 3) CONSIDERABLE T.A.S. LIQUIDATION AND MONTH END SPREADER LIQUIDATION+ CONSIDERABLE SUCCESS IN REMOVING SOME NET SPECULATOR LONGS, AS WE HAD 1)A $14.05 COMEX PRICE LOSS.. WE HAD 2) CONSIDERABLE NET LONG SPECS BEING CLIPPED AS WE HAD A STRONG LOSS OF 7308 CONTRACTS ON OUR TWO EXCHANGES MUCH OF IT DUE TO T.A.S. LIQUIDATION//MONTH END SPREADER LIQUIDATION /./ ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED WEDNESDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL AND THUS OUR HUGE TONNAGE STANDING FOR GOLD FOR MAY.
4) STRONG SIZED COMEX OI LOSS// 5) FAIR SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER (1629 CONTRACTS)///STRONG T.A.S. ISSUANCE: 545 T.A.S.CONTRACTS//
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2025 INCLUDING TODAY
MAY INITIAL
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL :
TOTAL EFP CONTRACTS ISSUED: 1629 CONTRACTS OR 162,900 OZ OR 5.066 TONNES IN 1 TRADING DAY(S) AND THUS AVERAGING: 1629 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN1 TRADING DAY(S) IN TONNES 5.066 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 5.066 TONNES DIVIDED BY 3550 x 100% TONNES = 0.149% OF GLOBAL ANNUAL PRODUCTION
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 185.59 tonnes // FINAL
TOTAL: 2,847,25 TONNES/2022
JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!
FEB: 151.61 TONNES/FINAL
MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)
APRIL: 197.42 TONNES
MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)
JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)
JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)
AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL
SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,
DEC. 213.704 TONNES. A STRONG MONTH//
TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR
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 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. STILL A SMALL TO FAIR ISSUANCE FOR THE MONTH.
MAY: 5.066 TONES
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 APRIL. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A MEGA HUGE SIZED 14,813 CONTRACTS OI TO 137,963 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 7 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 341 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 341 and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 341 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 14,706 CONTRACTS AND ADD TO THE 341 E.FP. ISSUED
WE OBTAIN A MEGA HUGE SIZED LOSS OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 14,472 CONTRACTS DESPITE THE LOSS IN PRICE OF $0.65 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 72.360 MILLION PAPER OZ
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 THURSDAY MORNING//WEDNESDAY NIGHT
SHANGHAI CLOSED
//Hang Seng CLOSED
// Nikkei CLOSED UP 406.92 PTS OR 1.13% //Australia’s all ordinaries CLOSED UP 0.30%
//Chinese yuan (ONSHORE) CLOSED OFFSHORE CLOSED DOWN TO 7.2735/ Oil UP TO 57.31 dollars per barrel for WTI and BRENT UP TO 59.97 Stocks in Europe OPENED ALL MIXED.
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A STRONG SIZED9017 CONTRACTS TO 442,851 WITH OUR LOSS IN PRICE OF $14.05 WITH RESPECT TO WEDNESDAY’S // TRADING. WE LOST CONSIDERABLE NUMBER OF NET LONGS WITH THAT PRICE LOSSS FOR GOLD. AND AS YOU WILL SEE BELOW, OUR LOSS IN PRICE ALSO HAD A FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1629 ).
THE CME ANNOUNCED WEDNESDAY NIGHT, A 0 EXCHANGE FOR RISK CONTRACT ISSUANCE FOR 0 OZ OR 0.0 TONNES. IN THE MONTH OF APRIL WE HAD RECORDED A NEW RECORD 7 ISSUANCES OF EXCHANGE FOR RISK AS THE BANK OF ENGLAND IS GETTING VERY ANTSY ABOUT GETTING ITS GOLD BACK. THUS OUR TOTAL EXCHANGE FOR RISK FOR THE MONTH OF APRIL STOOD AT 8.3571 TONNES OF GOLD WHICH WERE ADDED TO OUR NORMAL APRIL GOLD DELVERIES.
HISTORY: LAST THREE PRIOR MONTH’S EXCHANGE FOR RISK
IN MARCH:
THE TOTAL NO. OF EXCHANGE FOR RISK ISSUANCE FOR THE MONTH OF MARCH (3 NOTICES) EQUALED: 7.6179 TONNES OF GOLD WHICH WAS ADDED TO OUR MARCH DELIVERY TOTALS.
IN FEBRUARY:
WE HAD A HUGE FIVE EXCHANGE FOR RISKS ISSUANCES FOR GOLD, TOTALLING 18.4527 TONNES!.
THE RECIPIENT OF ALL 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:
THE BANK OF ENGLAND
THE FEDERAL RESERVE BANK OF NEW YORK (NEED TO RETRIEVE THEIR LEASED GOLD FROM THE BIS)
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. THIS IS THE 5TH CONSECUTIVE MONTH FOR ISSUANCE OF EXCHANGE FOR RISK !!.(DEC THROUGH APRIL)
IN APRIL:
AND NOW WE CONCLUDED APRIL WITH 7 ISSUANCE OF EXCHANGE FOR RISK FOR A TOTAL TONNAGE OF 8.3571 TONNES.
MAY: 0 ISSUED SO FAR…
DETAILS ON MAY COMEX MONTH//INITIAL
IN TOTAL WE HAD A STRONG SIZED LOSS ON OUR TWO EXCHANGES OF 7388 CONTRACTS WITH OUR LOSS IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON TUESDAY NIGHT AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED ATTEMPTED AND FAILED RAID VERY EARLY IN THE COMEX SESSION 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 REVERTED BACK TO 1% BUT GOLD IN LONDON IS STILL 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 LAST MONTH OF APRIL CONTINUED TO DISTORT OPEN INTEREST NUMBERS GREATLY ALTHOUGH THE T.A.S. ISSUANCES IN GOLD HAVE BEEN ON THE LOW SIDE COMPARED TO SILVER WHICH HAVE BEEN HUGE. TODAY’S NUMBER IS A LOT LARGER THAN FROM OUR PREVIOUS FEW DAYS AT 1607 CONTRACTS
THE T.A.S. LIQUIDATION OF THESE T.AS. CONTRACTS IS WHY WE ARE HAVING DISTORTED COMEX OPEN INTEREST GAINS AND LOSSES IN OI BUT THIS IS COUPLED WITH MEGA HUGE AMOUNTS OF GOLD STANDING FOR DELIVERY TO CONFUSE THE ISSUE!!!!! AND THIS WAS SURELY ON DISPLAY WITH FIRST DAY NOTICE TOTALS WITH GOLD TONNES STANDING FOR APRIL AT 209 + TONNES INCLUDING MANY MASSIVE QUEUE JUMPS. THE TONNAGE STANDING FOR GOLD FOR MAY IS 29 PLUS TONNES
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 NOW THAT THEY MUST BECOME COMPLIANT TO BASEL III RULES JULY 1/2023 AS OUTLINED IN ANDREW MAGUIRE’S LATEST LIVE FROM THE VAULT 219 EPISODE. 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 THREE 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. 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.
EUROPE IS NOW BASEL III COMPLIANT. THE WEST (FED AND COMEX) MUST BE COMPLIANT BY JULY 1.2025.
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 SEVERAL 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, AND THE MASSIVE AMOUNT OF GOLD STANDING EACH AND EVERY MONTH INCLUDING FIRST DAY NOTICE OF GOLD TONNAGE STANDING.
EXCHANGE FOR PHYSICAL ISSUANCE
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 1629 EFP CONTRACTS WERE ISSUED: : /JUNE 1629 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1629 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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 7388 CONTRACTS IN THAT 1629 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG SIZED LOSS OF 9034 COMEX CONTRACTS..AND THIS STRONG LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $14.05 FOR WEDNESDAY/ COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AT THE COMEX AS MENTIONED ABOVE. LOOKS LIKE THE SHORT RATS ARE FLEEING THE ARENA AS EVIDENCED BY THE LOWER OPEN INTEREST AT THE COMEX!
THE ENTIRE LOSS IN OI AT THE COMEX WAS DUE TO:
FINALIZATION OF MONTH END SPREADERS
LIQUIDATION OF OUR T.A.S. SPREADERS
CONSIDERABLE SPEC LIQUIDATION
T.A.S.SPREADER 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 WEDNESDAY NIGHT/THURSDAY MORNING WAS A FAIR SIZED 1607 CONTRACTS,
THE RAIDS ON OPTIONS EXPIRY ACCOMPLISHED TWO IMPORTANT ASPECTS FOR OUR CROOKS:
STALLS THE ADVANCE IN PRICE
LOWERS THEIR ADVANCING DERIVATIVE LOSSES.
MECHANICS OF T.A.S CONTRACTS/DECEMBER THROUGH MARCH, APRIL. (AND MONTH END SPREADERS)
THROUGHOUT THE FEW YEARS, 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
FINAL STANDING FOR GOLD APRIL
// WE HAD A HUGE AMOUNT OF GOLD TONNAGE STANDING: APRIL (209.573 TONNES//.CME CORRECTED//) WHICH IS HUGE FOR OUR ACTIVE APRIL DELIVERY MONTH. FEB HAD THE HIGHEST STANDING FOR GOLD EVER RECORDED FOR ANY MONTH AT 256.607 TONNES
AND NOW LAST 5 MONTHS OF 2025: STANDING FOR GOLD
YEAR 2025:
JAN 2025:
113.30 TONNES (WHICH INCLUDES 43.408 TONNES EX FOR RISK)
FEB: 2025:
256.607 TONNES (WHICH INCLUDES 18.4567 TONNES OF EX FOR RISK)
MARCH:
STANDING FOR GOLD : 60.33 TONNES + 7.6179 TONNES EX FOR RISK = 67.9479 TONNES WHICH IS EXTREMELY HIGH FOR A NON DELIVERY MONTH.
APRIL:
FINAL STANDING FOR GOLD: 201.573 TONNES + 8.3571 TONNES EX FOR RISK = 209.953 TONNES
MAY: INITIAL STANDING AT 28.945 TONNES OF GOLD PLUS .6767 TONNES QUEUE JUMP = 29.135 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
2025 STANDING FOR GOLD/COMEX
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. THIS IS THE HIGHEST EVER MONTH FOR GOLD STANDING IN COMEX HISTORY
MARCH: 67.9479 TONNES (INCLUDES 7.6179 TONNES EX FOR RISK)
APRIL: 209.953 TONNES (INCLUDES 8.3571 TONNES EX FOR RISK/AND ALL MONTHLY QUEUE JUMPING)
MAY: STANDING NOW 29.135 TONNES
COMEX GOLD TRADING/MAY CONTRACT MONTH
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY A $14.05/ /)/BUT THEY WERE SUCCESSFUL IN KNOCKING OFF CONSIDERABLE APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A STRONG SIZED LOSS IN OUR TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION WEDNESDAY COUPLED WITH FINALIZATION OF MONTH END SPREADER LIQUIDATION AS THEY WERE STILL TRYING TO QUELL GOLD’S ATTEMPT AT FURTHER INCREASES ABOVE $3,400 AND STOP HUGE COMEX/OTC DERIVATIVE LOSSES FROM EXPLODING AS THEY SUCCEEDED IN THEIR ATTEMPT TO STOP THE PENETRATION OF OUR $3,400 DOLLAR GOLD BARRIER SO FAR.
WEDNESDAY NIGHT/THURSDAY 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 WEDNESDAY EVENING/THURSDAY 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) THIS PAST MONTH.
EXCHANGE FOR RISK EXPLANATION/FEB THROUGH /MAY TRADING
EXCHANGE FOR RISK CONTRACTS/MONTH FOR FEBRUARY://FINISHES AT 4 ISSUANCES
THE CME ANNOUNCED TO THE WORLD THAT ON FEB 4 THEY ISSUED 100 CONTRACTS OF EXCHANGE FOR RISK TO THE BANK OF ENGLAND.THEN ,FEB 4 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 WAS 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 WAS ADDED TO OUR REGULAR DELIVERIES THROUGH THE MONTH.
EXCHANGE FOR RISK CONTRACTS/MONTH FOR MARCH
EARLY IN THE DELIVERY CYCLE THE CME NOTIFIED US THAT WE HAD OUR FIRST EXCHANGE FOR RISK CONTRACT ISSUANCE IN MARCH FOR 150 CONTRACTS REPRESENTING 15,000 OZ OF GOLD OR .46656 TONNES. THE BANK OF ENGLAND WAS STILL NOT SATISFIED AS THEY NEED TO RETRIEVE ALL OF ITS LOST GOLD THROUGH LEASING! THE 15,000 OZ WAS ADDED TO OUR NORMAL DELIVERY TOTAL.
MARCH ISSUES IT’S THIRD EXCHANGE FOR RISK: TOTAL FOR THE MONTH FINISHED AT 3
TOTAL ISSUANCE OF EXCHANGE FOR RISK MARCH 28 TOTALS 2200 CONTRACTS FOR 6.8429 TONNES OF GOLD. PRIOR ISSUANCE: .7775 TONNES. THUS TOTAL EXCHANGE FOR RISK FOR MARCH : 7.6179 TONNES OF GOLD. MARCH BECOMES THE 4TH CONSECUTIVE MONTH FOR EXCHANGE FOR RISK ISSUANCE.
NOW APRIL, ISSUED ITS 7TH EXCHANGE FOR RISK: 187 CONTRACTS OR 18,700 OZ OR 0.5816 TONNES
SUMMARY EXCHANGE FOR RISK/APRIL//TOTAL ISSUANCES 7 FOR 8.3571 TONNES OF GOLD!
ISSUANCE FOR EXCHANGE FOR RISK ON FIRST DAY NOTICE//APRILL MONTH// WAS 700 CONTRACTS FOR 70,000 OZ OR 2.177 TONNES OF GOLD TO WHICH WE ADD (APRIL 4) : 250 CONTRACTS FOR 25,000 OZ OR .777 TONNES, APRIL 7 ISSUANCE OF 280 CONTRACTS FOR 28,000 OZ OR .8709 TONNES THEN APRIL 9 484 CONTRACTS FOR 48400 OZ OR 1.5054 TONNES AND FINALLY MONDAY MORNING APRIL 14 AT 200 CONTRACTS FOR 20,000 OZ OR .5816 TONNES AND NOW APRIL 24: 600 CONTRACTS FOR 60,000 OZ OR 1.866 TONNES AND NOW APRIL 25 187 CONTRACTS FOR 18700 OZ OR .5816 TONNES//NEW FINAL TOTAL ISSUANCE FOR APRIL: 8.3571 TONNES!!. APRIL ISSUANCE OF EXCHANGE FOR RISK MEANS WE NOW HAVE 5 CONSECUTIVE MONTHS FOR EXCHANGE FOR RISK ISSUANCE. THESE DELIVERIES WERE ADDED TO OUR NORMAL DELIVERY CYCLE.
FINAL STANDING FOR GOLD NOW FOR APRIL:
APRIL: 201.573 TONNES +(8.3571 EX FOR RISK// FOR APRIL DELIVERY MONTH =209.953 TONNES OF THE GOLD. THIS IS THE 2ND HIGHEST AMOUNT OF DELIVERY GOLD WHICH FOLLOWS THE HIGHEST EVER ON AN ACTIVE MONTH GOLD DELIVERY BEING FEB 2025 AT 256.607 TONNES..
ANALYSIS MAY DELIVERY MONTH GOING INTO FIRST DAY NOTICE;
WE HAVE LOST A STRONG SIZED TOTAL OF 22.97 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR MAY FIRST RECORDED AT 28.945 TONNES ON FIRST DAY NOTICE. WE HAD A HUGE 224 CONTRACT QUEUE JUMP FOR 22,400 OZ OR .6767 TONNES. THUS NEW STANDING ADVANCES TO 29.135 TONNES OF GOLD.
ALL OF THIS HUGE STANDING WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $14.05
WE HAD A SMALL 83 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.
NET LOSS ON THE TWO EXCHANGES 7388 CONTRACTS OR 738,800 0Z (22.97 TONNES)
confirmed volume WEDNESDAY 220,999.. contracts: small volume////
a)) Out of Loomis: 64,302.000 oz (2000 kilobars) b) Out of Asahi 50,047.222 oz
c) Out of JPMorgan 675.171 oz 21 kilobars d) Out of Brinks 63,999.687 oz e) Out of Malca 139,926.774 oz f) out of HSBC enhanced: 11,791.625 oz or 21 London good delivery bars of 400 oz each.
total withdrawal: 367,419.489 (11,42 tonnes)
Deposit to the Dealer Inventory in oz
0 ENTRIES
Deposits to the Customer Inventory, in oz
we have 1 customer entries
we have 1 customer entry deposits i) Into Brinks: 400,663.901 oz 12462 kilobars
12.46 tonnes
xxxxxxxxxxxxxxxxI
No of oz served (contracts) today
135 notice(s) 13,500 OZ 0.4197 TONNES
No of oz to be served (notices)
89 contracts 8900 OZ 0.2768 TONNES
Total monthly oz gold served (contracts) so far this month
9278 notices 927800 oz 28.858 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
dealer deposits: 0 entry
xxxxxxxxxxxxxxxxxxxxx
we have 1 customer entry deposits
i) Into Brinks: 400,663.901 oz
12462 kilobars
12.46 tonnes
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
withdrawals:
withdrawals: 6 entries
a)) Out of Loomis: 64,302.000 oz (2000 kilobars) b) Out of Asahi 50,047.222 oz
c) Out of JPMorgan 675.171 oz 21 kilobars d) Out of Brinks 63,999.687 oz e) Out of Malca 139,926.774 oz f) out of HSBC enhanced: 11,791.625 oz or 21 London good delivery bars of 400 oz each.
total withdrawal: 367,419.489 (11,42 tonnes)
adjustments: 1//customer to dealer account Brinks
a)1,354,184.980 oz (42.12 tonnes
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AMOUNT OF GOLD STANDING FOR MAY
THE FRONT MONTH OF MAY STANDS AT 224 CONTRACTS FOR A LOSS OF 9082 CONTRACTS. WE HAD 9306 CONTRACTS SERVED ON WEDNESDAY SO WE GAINED 224 CONTRACTS OR 22,400 OZ FOR .6967 TONNES
JUNE LOST 654 CONTRACTS TO 322,708. JUNE BECOMES OUR NEW FRONT MONTH AND THIS MONTH WILL BE A WHOPPER OF A DELIVERY MONTH.
We had 135 contracts filed for today representing 13500 oz
This is a huge major assault on the comex for gold and this time it is physical that will be requested.
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 135 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 10 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for MAY /2025. contract month, we take the total number of notices filed so far for the month (9278 X 100 oz ) to which we add the difference between the open interest for the front month of MAY (224 CONTRACTS) minus the number of notices served upon today (135 x 100 oz per contract) equals 936700 OZ OR 29.135 TONNES
thus the INITIAL standings for gold for the MAY contract month: No of notices filed so far (9278 x 100 oz +we add the difference for front month of MAY (224 OI} minus the number of notices served upon today (135 x 100 oz) which equals 936,700 OZ OR 29.135 TONNES
TOTAL COMEX GOLD STANDING FOR MAY.: 29.135 TONNES WHICH IS HUGE FOR THIS NON ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR. FEBRUARY HAD THE HIGHEST DELIVERY FOR ANY MONTH AND APRIL WAS SECOND..
JPMorgan has a total silver weight: 205.915million oz/500.128 oz million or 41.2%
TOTAL REGISTERED SILVER: 165.721 MILLION OZ//.TOTAL REG + ELIGIBLE. 500.128Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR APRIL
silver open interest data:
FRONT MONTH OF MAY /2025 OI: 2093 OPEN INTEREST CONTRACTS FOR A LOSS OF 11,473 CONTRACTS. WE HAD 11,692 NOTICES FILED YESTERDAY SO WE GAINED 219 CONTRACTS WHICH UNDERWENT A STORNG QUEUE JUMP OF 1.095 MILLION OZ. HOWEVER SADLY I MUST REPORT OUR MASSIVE 2419 CONTRACT ISSUANCE FOR EXCHANGE FOR RISK FOR 12.195 MILLION OZ. THE RECIPIENT OF THAT LARGESS WAS THE CENTRAL BANK OF INDIA.
JUNE SAW A GAIN OF 92 CONTRACTS UP TO 3318 CONTRACTS.
JULY LOST 3680 CONTRACTS DOWN TO 110,922
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 925 or 4.625 MILLION oz
CONFIRMED volume; ON WEDNESDAY 58.177 fair//
AND NOW MAY DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in MAY. we take the total number of notices filed for the month so far at 12,617 X5,000 oz = 63,085 MILLION oz
to which we add the difference between the open interest for the front month of MAY (2093) AND the number of notices served upon today (925 )x (5000 oz)
Thus the standings for silver for the MAY 2025 contract month: (12,617) Notices served so far) x 5000 oz + OI for the front month of MAY(2093) minus number of notices served upon today (925)x 5000 oz equals silver standing for the MAY contract month equating to 68.925 MILLION OZ . THEN WE MUST ADD OUR NEW 12.195 TONNES OF EXCHANGE FOR RISK. NEW TOTAL STANDING FOR SILVER: 81.11 MILLION OZ
New total standing: 81.11 million oz which is huge for this NON active delivery month of MAY.
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 163.205million 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
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
MAY 1 WITH GOLD DOWN $ 92,45 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.87 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 944.26 TONNES
APRIL30 WITH GOLD DOWN $14.05 TODAY// NO CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.86 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 947.13 TONNES
APRIL29 WITH GOLD DOWN $13.45 TODAY// NO CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.27 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 946.27 TONNES
APRIL28 WITH GOLD UP $50.20 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.27 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 946.27 TONNES
APRIL25 WITH GOLD DOWN $49.95 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A MASSIVEV WITHDRAWAL OF 3.911 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 948.56 TONNES
APRIL24 WITH GOLD UP $54.90 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 952.471 TONNES
APRIL23 WITH GOLD DOWN $124.55 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE WITHDRAWAL OF 9.47 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 949.70 TONNES
APRIL22 WITH GOLD DOWN $7,75 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE DEPOSIT OF 6.89 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 957.17 TONNES
APRIL21 WITH GOLD UP $98.70 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.88 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 952.28 TONNES
APRIL17 WITH GOLD DOWN $14.85 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 4.02 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 957.17 TONNES
APRIL16 WITH GOLD UP $12.90 TODAY// NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 953.15 TONNES
APRIL15 WITH GOLD UP $106.35 TODAY// NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 953.15 TONNES
APRIL14 WITH GOLD DOWN $16.90 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.44 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 953.15 TONNES
APRIL11 WITH GOLD UP $67.70 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 13.48 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 949.71 TONNES
/APRIL10 WITH GOLD UP $100.00 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 0.86 TONNES OF GOLD OUT OF THE GLD. ///INVENTORY RESTS AT 937.09 TONNES
APRIL9 WITH GOLD UP $83.50 TODAY// MEGA HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE DEPOSIT OF 11.171 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 936.23 TONNES
APRIL8 WITH GOLD UP $17.50 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 6.02 TONNES OF GOLD OUT OF THE GLD. ///INVENTORY RESTS AT 926.78 TONNES
APRIL3 WITH GOLD DOWN $27.85 TODAY// SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.57 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 931.94 TONNES
APRIL2 WITH GOLD UP $10.00 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.01 TONNES OF GOLD OUT OF THE GLD. ///INVENTORY RESTS AT 931.37 TONNES
APRIL1 WITH GOLD DOWN $3.55 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 933.38 TONNES
MARCH 31 WITH GOLD UP $31.60 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.29 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 931.94 TONNES
MARCH 28 WITH GOLD UP $31.60 TODAY// SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF .29 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 929.65 TONNES
MARCH 27 WITH GOLD UP $31.60 TODAY// SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF .29 TONNES OF GOLD INTO THE GLD. ///INVENTORY RESTS AT 929.65 TONNES
MARCH 26 WITH GOLD UP $31.60 TODAY// NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 929.36 TONNES
MARCH 25 WITH GOLD UP $13.90 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD/ ///INVENTORY RESTS AT 929.07 TONNES
MARCH 24 WITH GOLD DOWN $6.10 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 20.08 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 930.51 TONNES
GLD INVENTORY: 944.26 TONNES, TONIGHTS TOTAL
SILVER
MAY 1 WITH SILVER DOWN $0.43 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 0.683 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 454.972 MILLION OZ
APRIL30 WITH SILVER DOWN $0.65 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 2.364 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 454.289 MILLION OZ
APRIL29 WITH SILVER UP $0.30 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 3.229 MILLION OZ OUT OF THE SLV ////: //INVENTORY AT SLV RESTS AT 451.925 MILLION OZ
APRIL28 WITH SILVER DOWN $0.03 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 0.136 MILLION OZ OUT OF THE SLV ////: //INVENTORY AT SLV RESTS AT 448.696 MILLION OZ
APRIL25 WITH SILVER DOWN $0.44 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A MASSSIVE WITHDRAWAL OF 3.639 MILLION OZ OUT OF THE SLV ////: //INVENTORY AT SLV RESTS AT 448.832 MILLION OZ
APRIL24 WITH SILVER DOWN $0.01 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A MASSSIVE DEPOSIT OF 4.771 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 452.471 MILLION OZ
APRIL23 WITH SILVER UP $0.65 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A MASSSIVE WITHDRAWAL OF 6.27 MILLIO9N OZ FROM THE SLV ////: //INVENTORY AT SLV RESTS AT 447.70 MILLION OZ
APRIL22 WITH SILVER UP $0.15 /NO CHANGES IN SILVER INVENTORY AT THE SLV: ////: //INVENTORY AT SLV RESTS AT 453.426 MILLION
APRIL22 WITH SILVER UP $0.30 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.545 MILLION OZ INTO THE SLV////: //INVENTORY AT SLV RESTS AT 453.426 MILLION
APRIL21 WITH SILVER UP $0.15 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.545 MILLION OZ INTO THE SLV////: //INVENTORY AT SLV RESTS AT 453.426 MILLION
APRIL17 WITH SILVER DOWN $0.56 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.183 MILLION OZ INTO THE SLV////: //INVENTORY AT SLV RESTS AT 453.426 MILLION
APRIL16 WITH SILVER UP $0.70 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE DEPOSIT OF 3.002 MILLION OZ INTO THE SLV////: //INVENTORY AT SLV RESTS AT 452.243 MILLION
APRIL15 WITH SILVER UP $0.07 /NO CHANGES IN SILVER INVENTORY AT THE SLV//: //INVENTORY AT SLV RESTS AT 449.241 MILLION
APRIL14 WITH SILVER UP $0/23 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 0.273 MILLION OZ OUT OF THE SLV//: //INVENTORY AT SLV RESTS AT 449.241 MILLION
APRIL11 WITH SILVER UP $1.18 /BIG CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 1.911 MILLION OZ INTO THE SLV//: //INVENTORY AT SLV RESTS AT 449.71 MILLION
APRIL10 WITH SILVER UP $0.18 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDDRAWAL OF 0.501 MILLION OZ INTO THE SLV//: //INVENTORY AT SLV RESTS AT 447.603 MILLION
APRIL9 WITH SILVER UP $0.96 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 0.683 MILLION OZ INTO THE SLV//: //INVENTORY AT SLV RESTS AT 448.104 MILLION
APRIL8 WITH SILVER UP $0.35 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 1.137 MILLION OZ FROM THE SLV//: //INVENTORY AT SLV RESTS AT 447,421 MILLION
APRIL3 WITH SILVER DOWN $1.84 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1.138 MILLION OZ FROM THE SLV//: //INVENTORY AT SLV RESTS AT 446.830 MILLION
APRIL2 WITH SILVER UP 0.15 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF .364 MILLION OZ FROM THE SLV//: //INVENTORY AT SLV RESTS AT 447.968 MILLION
APRIL1 WITH SILVER DOWN $0.36 /NO CHANGES IN SILVER INVENTORY AT THE SLV: //INVENTORY AT SLV RESTS AT 448.332 MILLION
MARCH 31 WITH SILVER DOWN $0.28 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A STRONG DEPOSIT OF 0.91000 MILLION OZ INTO THE SLV//// //INVENTORY AT SLV RESTS AT 448.332 MILLION
MARCH 28 WITH SILVER DOWN $0.21 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV” A STRONG WITHDRAWAL OF 1.092 MILLION OZ FROM THE SLV//// //INVENTORY AT SLV RESTS AT 447.422 MILLION
MARCH 27 WITH SILVER UP $.60 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV” A MASSIVE WITHDRAWAL OF 6.369 MILLION OZ FROM THE SLV//// //INVENTORY AT SLV RESTS AT 448.514 MILLION
MARCH 26 WITH SILVER DOWN $0.21 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV” A MASSIVE WITHDRAWAL OF 6.369 MILLION OZ FROM THE SLV//// //INVENTORY AT SLV RESTS AT 448.514 MILLION
MARCH 25 WITH SILVER UP $0.63 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE DEPOSIT OF 13.649 MILLION OZ INTO THE SLV// //INVENTORY AT SLV RESTS AT 454.883 MILLION
MARCH 24 WITH SILVER UP $0.04 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.728 MILLION OZ FROM THE SLV// //INVENTORY AT SLV RESTS AT 441.234 MILLION
Peter returned to the mic to analyze a volatile week on Wall Street. He unpacks the market’s recent surge, the political pressures buffeting the Federal Reserve, and the deeper consequences of unsound economic policy. From the opaque motives driving central bankers to the misleading optimism embedded in public statements about tariffs and trade, Peter reveals why investors should remain cautious, not complacent.
Peter opens the show with his signature skepticism toward market mood swings, reminding listeners that bear markets are notorious for sharp, misleading rallies:
This is another Sunday night podcast following what was a big turnaround week for the markets. It really started on turnaround Tuesday, but it lasted the entire week. Now, I don’t think it’s a permanent turnaround. I think it’s a bear market rally, a counter trend move in pretty much all of the markets. This is how bear markets work. You get some pretty big short-term counter movements that serve the purpose of creating a false sense of hope that the market is bottomed out.
He critiques Trump’s approach to monetary policy, noting that Trump only wants lower rates for political reasons:
He basically started calling Jerome Powell names, you know, like they’re at a playground, calling him ‘too late Powell.’And he said that Powell needs to cut rates and he can’t go soon enough. We got to get rid of Powell. He’s screwing up by not cutting rates. And so the markets didn’t like that type of pressure on Powell from the White House to not only cut rates but risk being fired if he didn’t.
Peter compares the post-2008 Fed policy to today. He argues that Janet Yellen, who led the Federal Reserve under President Obama, was motivated by politics rather than economics, just like Powell:
I’m sure that he’s not the only one. I’m sure Yellen was very much a team player for Obama. That’s why she never even raised rates once when Obama was president. She kept them at zero the whole time. She didn’t start hiking rates until Trump won. And then she started hiking rates. So she kept rates at zero. That was very political. And Trump was right when he ran against Hillary Clinton back in 2016 for pointing out that the Fed was political.
Turning to the week’s market rally, Peter calls out the engineered optimism around the trade war, warning listeners that it’s built on hollow promises rather than substantive breakthroughs:
But the big movers were in the stock market, and it wasn’t just because of the damage control that was done on Tuesday. We got more crafted statements from the Trump administration, especially, I think, from Scott Bessent, about the trade war and the tariffs, and some positive statements that I think the tariffs will come down soon. Things are going well, the negotiations are going good, so a lot of positive comments that I think were all a bunch of BS. I think these comments were deliberately floated out there to get the markets to rise, to get them to think, oh, okay, it’s almost over, we’re going to know the war is going to be over. And we got this big relief rally really on nothing.
Finally, Peter contends that China might ultimately benefit from disentangling itself from the U.S. financially, a view that breaks sharply with conventional wisdom on global trade. He argues China’s ongoing export relationship is propping up a debtor—one that pays with increasingly dubious U.S. IOUs:
And as far as I’m concerned, in the long run, it’s the best thing that could happen to China. Because China needs to stop trading with the United States to the degree that it does, because we’re screwing them over. Because we’re not paying; we’re just giving them IOUs that are basically not going to be worth anything. So their economy is getting all screwed up, maintaining this vendor financing of a customer that’s never going to pay. And it’s doing real damage to their economy, and the sooner they can repair that damage, the better for them.
If you missed it, make sure you check out Peter’s latest interview on the Young & Profiting podcast!
2, EGON VON GREYERZ
ALASDAIR MACLEOD
3. C Powell and Gata dispatches
Chinese investors pile into gold funds at record pace
Submitted by admin on Wed, 2025-04-30 02:12 Section: Daily Dispatches
By Leslie Hook and Cheng Leng Financial Times, London Wednesday, April 30, 2025
Chinese investors are piling into gold funds at a record rate, as Donald Trump’s trade war and fears over a U.S. recession and inflation drive a hunt for haven assets.
Inflows into gold exchange traded funds in China total 70 tonnes — or about $7.4 billion — so far this month, more than double the previous monthly record, according to the World Gold Council, an industry body
“Whilst we have seen ETF demand from other regions, China is really in the lead now,” said John Reade, senior market strategist at the WGC, adding that Chinese investment demand for the precious metal had risen “dramatically” this month.
The country’s share of global gold exchange-traded fund holdings has jumped to 6%, up from 3% at the start of this year, while over the past four weeks Chinese demand accounted for more than half of global gold ETF inflows. …
Submitted by admin on Mon, 2025-04-28 17:39 Section: Daily Dispatches
By Jan Nieuwenhuijs Money Metals Exchange, Eagle, Idaho Monday, April 28, 2025
As we are in the final stages of a debt cycle that is causing gold to skyrocket, the question arises: How high can gold go?
Comparing the current bull run to the previous two points to a gold run as high as $16,000 per ounce.
I typically analyze the gold price through a framework of how gold relates to “credit assets” (national currencies, debt securities, equity, etc.). Simplified, trends in the ratio between gold and credit assets tell us where we are in a debt cycle, and where we are in a debt cycle reveals in what direction the gold price is heading.
In an economic boom, capital flows into credit assets (debt), and the gold price stalls. When markets exhibit excessive confidence in credit, financial bubbles tend to form.
When the bubbles pop, investors flock to gold until a new equilibrium is established in the financial system between money without counterparty risk (gold) and assets with counterparty risk (credit). …
Submitted by admin on Sun, 2025-04-27 13:34 Section: Daily Dispatches
By Caitlin McCabe and Joe Wallace The Wall Street Journal via MSN, Redmond, Washington Sunday, April 27, 2025
John Paulson made a vast fortune betting against the U.S. housing market in what was dubbed “the greatest trade ever.” And his next act — a years-long wager on gold — is finally turning out to be a another great trade.
More than a decade and a half after Paulson went big on gold, the billionaire investor has emerged as one of the winners from the record-setting surge in the price of the precious metal.
President Trump’s trade war and threats to fire the head of the Federal Reserve shook confidence in the dollar and propelled gold prices above $3,500 a troy ounce last week. Gold rose this year even as stocks and bonds floundered.
Rather than cashing out, Paulson is doubling down, tossing in $800 million to buy a big stake in a remote gold mine in a rugged region of southwestern Alaska.
“There’s only one reserve that in physical form will protect you against all these things for literally millennia,” said Paulson, rattling off a list of scenarios ranging from inflation to the confiscation of assets by governments. …
Swiss franc’s surge sparks bets for return to negative interest rates
Submitted by admin on Sun, 2025-04-27 10:30 Section: Daily Dispatches
By Emily Herbert, Ian Smith, and Mercedes Ruehl Financial Times, London Sunday, April 27, 2025
The Swiss franc has soared to a decade high against the dollar as investors rush for shelter from the global trade turmoil, sparking bets that the country’s central bank will have to lower interest rates to zero or below to curb the currency’s rise
The currency, historically a financial market haven because of the Alpine country’s political and economic stability, reached near-record strength against the dollar this week, with the greenback sinking close to SFr 0.80 for the first time since the franc’s shock appreciation in 2015.
That has put policymakers in a bind, as they seek to restrain the currency to support the export-heavy economy without provoking a backlash from the United States, which has already threatened Switzerland with high tariffs. …
Former Fed governor Warsh blasts U.S. central bank for leaving its lane
Submitted by admin on Sat, 2025-04-26 10:36 Section: Daily Dispatches
By Francesco Canepa Reuters via Yahoo News, Sunnyvale, California Friday, April 25, 2025
WASHINGTON — Former Federal Reserve Governor Kevin Warsh, with whom President Donald Trump is reported to have discussed firing U.S. central bank chief Jerome Powell and installing him in his place, today unleashed a barrage of criticism of the Fed and argued for fundamental changes to how it operates.
In a speech full of long-standing criticisms but short on specifics for what he would do differently, Warsh said he believes in the Fed’s “operational independence” but argued it has gone beyond its remit and undermined its claims to independence.
“Independence is reflexively declared, all too often in my view, when the Fed is criticized,” he told a conference in Washington organized by the Group of Thirty, an international body of financiers and academics.
He urged the Fed to stop relying on “stale” government data, subject to revision, to guide its decisions, and on letting the public know policymakers’ economic forecasts and where they believe interest rates may be headed. …
Silver supply deficit will break price suppression, First Majestic’s Keith Neumeyer says
Submitted by admin on Fri, 2025-04-25 20:42 Section: Daily Dispatches
8:43p ET Friday, April 25, 2025
Dear Friend of GATA and Gold:
Gold isn’t the only monetary metals market heavily manipulated by bullion banks, First Majestic Silver CEO Keith Neumeyer tells Mike Maharrey on Money Metals Exchange’s weekly market review. Neumeyer says about 300 ounces of “paper” silver — imaginary silver — trade for every ounce of real metal.
But the resulting supply deficit will defeat the manipulation eventually, Neumeyer says, and First Majestic believes in its product’s monetary component, holding silver as a financial asset on the company’s books.
The interview is 42 minutes long and begins at the 7:14 mark at YouTube here:
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
end
4. ANDREW MAGUIRE PODCAST 220
END
5B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES:COMMODITY//RARE EARTHS
6 CRYPTOCURRENCY NEWS
ASIA TRADING THURSDAY MORNING WEDNESDAY NIGHT
SHANGHAI CLOSED
//Hang Seng CLOSED
// Nikkei CLOSED UP 406.92 PTS OR 1.13% //Australia’s all ordinaries CLOSED UP 0.30%
//Chinese yuan (ONSHORE) CLOSED OFFSHORE CLOSED DOWN TO 7.2735/ Oil UP TO 57.31 dollars per barrel for WTI and BRENT UP TO 59.97 Stocks in Europe OPENED ALL MIXED.
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS /THURSDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED XXXX (CHINESE COMMUNIST PARTY MANIPULATED)
OFFSHORE YUAN: DOWN TO 7.2735 (CCP MANIPULATED)
SHANGHAI CLOSED C
HANG SENG CLOSED
2. Nikkei closed UP 406.92 PTS OR 1.13
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX UP TO 99.61// EURO FALLS TO 1.1325 DOWN 3 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +1.269//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 144.28…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: XX 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 DOWN this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.4470/Italian 10 Yr bond yield U to 3.583 SPAIN 10 YR BOND YIELD DOWN TO 3.111%
3i Greek 10 year bond yield UP TO 3.310
3j Gold at $3230.10 Silver at: 32.10 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 35 /100 roubles/dollar; ROUBLE AT 81.64
3m oil into the 57 dollar handle for WTI and 59 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 144.28// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.269% 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 0.8263 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9357 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: 4.147 DOWN 3 BASIS PTS…
USA 30 YR BOND YIELD: 4.667 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 3.603 DOWN 4 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 38.46
10 YR UK BOND YIELD: 4.4730 DOWN 2 PTS
10 YR CANADA BOND YIELD: 3.089 DOWN 4 BASIS PTS
5 YR CANADA BOND YIELD: 2.679 DOWN 6 PTS
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2a New York OPENING REPORT
US Futures Surge On Blowout Tech Earnings, Erasing April’s Losses
by Tyler Durden
Thursday, May 01, 2025 – 08:26 AM
US equity futures are sharply higher, erasing all of April’s losses on blowout earnings from MSFT and META, and relief over signs the Trump administration is stepping back from its harshest tariff threats. As of 8:00am ET, S&P futures rose 1.2% to 5655, the highest level since before Trump’s Liberation Day announcement and pointing to an eighth consecutive session of gains for the cash index; Nasdaq futures gained 1.7%, as META and MSFT added +6.3% and +7.8%, respectively; most Mag 7 names, NVDA (3.7%) and semis are higher given META’s CapEx increase and MSFT’s reiteration on CapEx guidance. The dollar is higher after the BOJ finally flipped dovish and slashed its growth target pushing USDJPY to 144.5 this morning. It’s light on overnight news as most of Europe is closed today ex-UK along with China; US/Ukraine signed an agreement over the country’s natural resources, UK Manf PMI printed better but remained in contraction, and Trump reiterated that there is a “very good chance” of a deal with China on NewsNation last night. Commodities are mostly lower: WTI -1.2%; Gold -1.7%. The US economic calendar includes weekly jobless claims (8:30am), April manufacturing PMI (9:45am), ISM manufacturing and March construction spending (10am). Fed’s external communications blackout ahead of the May 7 FOMC meeting. Apple and Amazon results are due after the market close.
In premarket trading, the Magnificent Seven are mostly higher: Microsoft (MSFT) gains 8% after the company reported stronger-than-expected quarterly sales and profit growth. Meta (META) jumps 6% after the company’s advertising sales quelled Wall Street concerns about the impact of the Trump administration’s trade war. Apple was the only tech giant in the red, falling 1.4% after a federal judge said in a ruling that it violated a court order requiring it to open up the App Store to third-party payment options (other Mag7s are up Nvidia +4.6%, Amazon +3.7%, Alphabet +1%, Tesla +0.7%). McDonald’s Corp. (MCD) declines 1.4% as sales fell in the first quarter, reflecting a deterioration in consumer sentiment that’s making it harder for restaurants to lure in diners. Eli Lilly & Co. (LLY) drops 5% after the company cut its earnings outlook. Here are some other notable premarket movers:
Align Technology rises 10% after the Invisalign company reported quarterly shipments that beat the average analyst estimate.
Confluent Inc. falls 10% after the provider of a streaming platform gave an outlook for second-quarter subscription revenue that fell shy of expectations. First quarter results showed a slowdown in additions of customers with $100,000 in annual recurring revenue.
CVS Health rises 8% after the company boosted its adjusted earnings per-share-guidance for the full year and reported better-than-expected results for the first quarter
E2open shares are up 34% after WiseTech Global, in response to media reports about its being in discussions to acquire E2open, said it was participating in a strategic review process.
KKR & Co. rises 2% after the investment firm reported assets under management that beat the average analyst estimate. Fee-related earnings also came in above analysts’ expectations.
Qualcomm falls 5% as the biggest maker of chips that run smartphones gave a tepid revenue prediction for the current quarter, underscoring concerns that tariffs will hurt demand for its products.
Robinhood gains 4% after the trading platform’s earnings largely beat expectations, with analysts highlighting positive trends in April amid market volatility and a boost from a lower tax rate.
Shake Shack falls 3% after posting first-quarter results.
Wayfair gains 5% after posting adjusted earnings per share for the first quarter that beat the average analyst estimate.
Tech giants added to investor optimism that deals between the US and its partners would limit the damage from Trump’s trade war. Wall Street ended a tumultuous month on a day in which the S&P 500 erased an intraday drop of more than 2% to close 0.2% higher. Traders sought reassurance in bets on Federal Reserve easing after the US economy contracted for the first time since 2022.
“So far we’re seeing big tech companies deliver on earnings, which is reassuring, and it’s this reassurance which is supporting equity market futures,” said Georgios Leontaris, chief investment officer for EMEA at HSBC Global Private Banking. “The other element of the story beyond earnings is obviously the ongoing debate as to whether we’ve seen peak tariff noise or not.”
Apple results are due after the market close. Analysts will be listening closely for any further detail on how the company, whose supply chain is reliant on China, Vietnam, and India, views the impact of tariffs
The White House said it was nearing an announcement of a first tranche of trade deals with partners that would reduce planned tariffs. Sentiment was also helped by a report that the US has been proactively reaching out to China through various channels. At the same time, Trump said he would not rush deals to appease nervous investors.
The US and Ukraine reached a deal over access to the country’s natural resources, offering a measure of assurance to officials in Kyiv who had feared Trump would pull back his support in peace talks with Russia.
Elsewhere, most markets in Europe and many in Asia are shut for holidays. The UK’s FTSE 100 index was steady, following 13 days of gains, the longest winning streak since 2017. Gains in material and industrial names are offset by losses in energy and health care.
In FX, the Bloomberg Dollar Spot Index rises 0.3%. the yen is the weakest of the G-10 currencies, falling 0.9% against the greenback after the Bank of Japan pushed back the timing for when it expects to reach its inflation target and slashed its growth forecasts. The pound and euro are little changed.
In rates, treasuries climb, pushing US 10-year yields down 2 bp to 4.14%. Treasury spreads remain within a basis point of Wednesday’s close, as gains remain broad-based across the curve. Gilts are steady, with UK 10-year borrowing costs flat at 4.44%. Treasury futures edge higher into the early US session, on the day’s highs with yields lower by 1bp to 2bp across the curve. US session focus includes weekly jobless claims along with both ISM and PMI manufacturing reports.
In commodities, oil prices decline, with WTI falling 2.3% to below $57 a barrel; the drop followed the biggest monthly drop since 2021, as signs that the Saudi-led OPEC+ alliance may be entering a prolonged period of higher output added to concerns the trade war will hurt demand. Spot gold is down $65 at $3,223/oz, falling for a third day on signs of potential trade-talk progress between the US and several other nations, quelling demand for havens even as signs of slowdowns have emerged in the largest economies. Bitcoin rises 1% and above $95,000.
Looking at today’s calendar, we get the April Challenger job cuts (7:30am), weekly jobless claims (8:30am), April manufacturing PMI (9:45am), ISM manufacturing and March construction spending (10am). Fed’s external communications blackout ahead of the May 7 FOMC meeting
Market Snapshot
S&P 500 mini +1.2%
Nasdaq 100 mini +1.6%
Russell 2000 mini +0.3%
Stoxx Europe 600 little changed
DAX +0.3%
CAC 40 +0.5%
10-year Treasury yield -2 basis points at 4.15%
VIX -0.9 points at 23.85
Bloomberg Dollar Index +0.2% at 1226.38
euro little changed at $1.1324
WTI crude -2% at $57.02/barrel
Top Overnight news
The US and Ukraine signed an agreement over access to the country’s natural resources. The deal will see the US will get first claim on profits transferred into a jointly managed investment fund that’s intended in part to reimburse the US for future military assistance. BBG
House Republicans are seriously considering proposals to further limit tax deductions that companies can take for their highest-paid workers’ compensation, expanding restrictions that now apply only to a handful of current or former executives making more than $1 million, according to people familiar with the discussions. WSJ
US President Trump said we are going to have ‘Made in the USA’ like never before and he stated give us a little time to get moving regarding the economy. Furthermore, Trump said interest rates should go down and reiterated that “he (Powell) should reduce interest rates, I understand them better than him”, as well as noted it would be nice for people wanting to buy homes and things.
There was some chatter that the House Ways and Means Committee is going to mark up their tax package on May 8th: Punchbowl.
Elon Musk said he’s considering sending DOGE to the Fed, citing a costly renovation of its headquarters as an example of potential government waste. BBG
The yen dropped as much as 1.2% after the BOJ pushed back the timing for when it expects to reach its inflation target and Governor Kazuo Ueda spoke of uncertainties due to tariffs. For now, policymakers kept rates at 0.5%. BBG
China feels the white house is “too divided” on trade policy and will hold off on entering serious trade talks with the US while it waits to see which of Trump’s advisors will have his ear and how other countries respond to the 90 day pause on tariffs. SCMP
Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further supply cuts and can handle a prolonged period of low prices, five sources with knowledge of the talks said. This possible shift in Saudi policy could suggest a move toward producing more and expanding its market share, a major change after five years spent balancing the market through deep output as a leader of the OPEC+ group of oil producers. RTRS
The EU is planning to share a paper with the US next week that will set out a package of proposals to kick-start trade negotiations with the Trump administration. The paper will propose lowering trade and non-tariff barriers, boosting European investments in the US, cooperating on global challenges such as tackling China’s steel overcapacity and purchasing US goods like liquefied natural gas and technologies. BBG
Janet Yellen has warned that Trump’s tariffs will have a “tremendously adverse” impact on the US economy as they “hobble” companies that rely on critical mineral supplies from China. She added: “I’m not yet ready to say that I’m forecasting a recession, but certainly the odds have gone way up. FT
Microsoft beat estimates and showed strong growth in its key Azure cloud business, while Meta also topped estimates and raised its full-year capex forecast as it continues to invest in AI. With first-quarter earnings in full swing the scorecard so far has shown resilience amid Trump’s trade war. The next big test comes after the close, when Apple and Amazon report. BBG
Tariffs/Trade
US President Trump reiterated there is a very good chance that they will make a deal with China and any deal has to be on their terms, while he added that they are negotiating with India, South Korea and Japan.
US President Trump said after a certain amount of time, there will be a tariff wall for pharmaceutical companies.
USTR Greer said it is a matter of weeks not months to have initial trade deals announced and he is meeting with Japan, Guyana and Saudi Arabia on Thursday and with the Philippines on Friday. Greer added he wouldn’t say they are ‘finish-line’ close on an India trade deal but noted he has a standing call with India’s Trade Minister and said they are working closely with the UK and moving quickly with countries ready to move forward on trade. Furthermore, Greer said Canadian PM Carney is a serious person and that President Trump wants a healthy relationship in North America, while he added there are no official talks with China yet and that harmful foreign trade practices, including those in China, need to be addressed.
China is to hold off on entering serious trade discussions with the US while it waits to see which of US President Trump’s advisers will have his ear and how other countries will respond to the 90-day pause on tariffs, according to a source cited by SCMP
US Senate narrowly rejected a bipartisan measure to block Trump tariffs with the vote count at 49-49.
Notable Earnings
eBay Inc (EBAY): Shares +0.5% pre-market. Q1 profit beat estimates, and revenue also increased. The company announced that Peggy Alford was appointed CFO, replacing Steve Priest, as the company adjusts its leadership. It reported Q1 adj. EPS of 1.38 (exp. 1.34), Q1 revenue of USD 2.6bln (exp. 2.55bln). Q1 gross merchandise volume USD 18.75bln (exp. 18.52bln); International GMV USD 9.69bln (exp. 9.58bln); US GMV USD 9.07bln (exp. 8.92bln). In Q1, it had 134mln active buyers (exp. 134.17mln). Sees Q2 revenue between USD 2.59-2.66bln (exp. 2.60bln), and sees Q2 adj. EPS between 1.24-1.31 (exp. 1.29). (Newswires)
Meta Platforms (META) – Shares +6.5% pre-market following a Q1 beat, while Q2 guidance was in line with expectations. Q1 revenue rose +16% to USD 42.31bln (exp. USD 41.4bln), with EPS of USD 6.43 (exp. USD 5.28); Q1 advertising sales were USD 41.39bln (exp. 40.55bln). Exec said daily users reached 3.43bln, while Threads has now has more than 350mln monthly active users. FY25 CapEx guidance was increased to USD 64–72bn for 2025 (prev. saw 60-65bln), and exec said that increased CapEx will bring data centre capacity online quicker. On AI, exec said its Meta AI app is focused on scaling and engagement this year, with business integration planned for next year; nearly 1bln monthly active users now use Meta AI across its apps. Exec also said that the EC’s ruling may hit its EU business, where it will need to make modifications to ads model which could have significant impact to European business and revenue as early as Q3, while Asia ad spend fell amid regulatory uncertainty. Sees Q2 revenue between USD 42.5bln-45.5bln (exp. 44.41bln), lowered its FY25 total expenses view to USD 113bln-118bln (prev. saw 114-119bln). (Newswires)
Microsoft (MSFT) – Shares +8.1% pre-market following a beat on Q3 sales and profits, driven by 20% cloud growth amid strong AI demand. The tech giant reported Q3 adj. EPS of 3.46 (exp. 3.21), Q3 revenue USD 70.1bln (exp. 68.41bln); Q3 CapEx USD 16.75bln (exp. 16.28bln). Azure and other cloud services revenue (Ex-FX) surged +33% (exp. +31%), with Azure growth attributable to AI 16pts (exp. 15.6ppts); the majority of Azure outperformance in Q3 was in its non-AI business. Q3 Cloud sales USD 42.4bln (exp. 42.22bln), Q3 Intelligent Cloud sales USD 26.8bln (exp. 25.99bln). Exec said H2 total CapEx view remains unchanged vs January guidance. Sees Q4 revenue between 73.3bln-73.4bln (exp. 72.0bln), Q4 CapEx expected to increase on a sequential basis, Q4 cloud gross margin expected to be 67% (down Y/Y), Q4 Intelligent Cloud revenue seen between USD 28.75bln-29.05bln (exp. 28.52bln), while Q4 Azure and other cloud services revenue growth is expected to be 34-35% in constant currency. Exec said that FY26 CapEx is expected to grow at a lower rate than FY25. (Newswires)
Qualcomm (QCOM) – Shares +5.7% pre-market after it topped Q2 top- and bottom-line estimates, but Q3 guidance was light, and it sees a sales hit from US tariffs ahead. It reported Q2 adj. EPS 2.85 (exp. 2.80), Q2 revenue USD 10.84bln (exp. 10.60bln); Q2 QCT revenue USD 9.47bln (exp. 9.23bln), Q2 QTL revenue USD 1.32bln (exp. 1.35bln); Q2 Internet of Things revenue USD 1.58bln (exp. 1.45bln), Handsets revenue USD 6.93bln (exp. 6.84bln), Automotive revenue USD 959mln (exp. 909.8mln). Sees Q3 adj. EPS 2.60-2.80 (exp. 2.66), Q3 revenue between USD 9.9-10.7bln (exp. 10.33bln), sees Q3 QCT revenue between USD 8.7-9.3bln (exp. 8.98bln), and sees Q3 QTL revenue between 1.15-1.35bln (exp. 1.3bln). (Newswires)
A more detailed look at global markets courtesy of Newquawk
APAC stocks traded higher but with gains capped in severely thinned conditions owing to mass holiday closures across the region and in Europe for Labour Day. ASX 200 eked mild gains as the outperformance in tech, real estate and consumer staples was offset by losses across the commodity-related sectors, while trade data was mixed as Australian monthly exports returned to growth but imports contracted. Nikkei 225 advanced at the open after having reclaimed the 36,000 level and with further upside seen after the BoJ policy announcement where the central bank kept rates unchanged at 0.50% and provided some dovish rhetoric despite maintaining its rate hike signal.
Top Asian News
BoJ maintained its short-term interest rate target at 0.5%, as expected, with the decision made by unanimous vote, while it said it will continue to raise the policy rate if the economy and prices move in line with its forecast and will conduct monetary policy appropriately from the perspective of sustainably and stably achieving the 2% inflation target. BoJ said Japan’s economic growth is likely to moderate and underlying consumer inflation is likely to be at a level generally consistent with the 2% target in the second half of the projection period from fiscal 2025 through 2027, as well as noted that uncertainty surrounding Japan’s economy and prices remains high with risks to the economic outlook and inflation outlook are skewed to the downside. Furthermore, it lowered its evaluation of the economic outlook and warned that a prolonged period of high uncertainties regarding trade and other policies could lead firms to focus more on cost-cutting, and as a result, moves to reflect price rises in wages could also weaken. In terms of the Outlook Report projections, the Real GDP median forecast for Fiscal 2025 was cut to 0.5% from 1.1% and the Fiscal 2026 estimate was cut to 0.7% from 1.0%, while the Core CPI median forecast for Fiscal 2025 was cut to 2.2% from 2.4% and the Fiscal 2026 forecast was cut to 1.7% from 2.0%.
BoJ’s Ueda Press Conference: Uncertainty from trade policy has heightened sharply. Expect to keep raising rates if the economy and prices move as projected. Timing to attain the underlying 2% inflation target will be delayed. Price goal timing delay doesn’t mean delay in hikes; timing of trend inflation does not necessarily correlate with the timing of a hike.
Due to Labour Day across Europe, cash and derivatives markets are closed across Euronext services and those run by other European exchanges such as Deutsche Boerse, SIX and Nasdaq (Scandinavia closed ex-Copenhagen). The UK’s FTSE 100 is one of the few indices in Europe which is open today; currently flat.
Top European news
EU is to present trade proposals to the US next week, according to Bloomberg citing officials.
FX
DXY is up for a third consecutive session with the USD firmer vs. all major peers. On the trade front, the White House administration continues to talk up the possibilities of imminent trade deals. Reports suggest that the US reached out to China recently for tariff talks. However, Chinese press notes that China is to hold off on entering serious trade discussions with the US while it waits to see which of US President Trump’s advisers will have his ear and how other countries will respond to the 90-day pause on tariffs. Ahead, Challenger layoffs, weekly claims and ISM manufacturing PMI are all due. DXY ventured as high as 100.08, but has recently waned off that high to a current 99.75 level.
EUR is essentially flat vs. the USD with most of Europe away from the market on account of Labour Day. In terms of macro updates for the region, Bloomberg reported that the EU is to present trade proposals to the US next week. EUR/USD hit a trough overnight at 1.1288 before returning to the 1.13 handle.
JPY is the clear laggard across the majors after the BoJ opted to stand pat on rates (as expected) whilst cutting its Real GDP and Core CPI estimates in its quarterly outlook report; the FY 2025 GDP estimate saw a sizable downgrade to 0.5% from 1.1%. At the follow-up press conference by Governor Ueda, USD/JPY continued its ascent to a peak at 144.75 with Ueda noting that the timing to attain the underlying 2% inflation target will be delayed. However, upside was trimmed after he stated that a delay in the timing of the price goal doesn’t mean a delay in hikes.
GBP is flat vs. the USD with incremental macro drivers remaining light. On the trade front, USTR Greer said the US is working closely with the UK and moving quickly with countries ready to move forward on trade. Local elections are taking place in the UK today with a focus on the extent of Conservative losses, the performance of Labour and how much ground the Reform Party can make; not expected to be a market mover. Cable has delved as low as 1.3275 but has since reclaimed the 1.33 mark and now sits around 1.3320. UK Manufacturing PMI was subject to an upward revision, but ultimately had little impact on the GBP.
Antipodeans are both softer vs. the broadly firmer USD and tracking losses in global peers. AUD saw little follow-through from mixed trade data as Australian monthly exports returned to growth but imports contracted.
Fixed Income
The BoJ left rates unchanged as expected. JGBs were bid though as the accompanying forecasts were lowered for both Real GDP and Core CPI, pushing back the timing for when underlying inflation is likely to be at a level generally consistent with the 2% target. In totality, this lifted JGBs from 141.05 to 141.34 though the upside did dissipate almost entirely in the gap between the announcement and Governor Ueda. Ueda for the most part stuck to the script of the statement and made it very clear that the BoJ is facing significant uncertainty in its forecasts. Ueda’s reiteration that there will be a delay to attaining the underlying 2% inflation target sparked another bout of dovishness, lifting JGBs to a fresh 141.42 peak.
A very slow start to the session for USTs given the absence of European participants for Labour Day (China also away). USTs are firmer and at a 112-12 peak, but one that is shy of the 112-16 high from Wednesday. As was the case on Wednesday, any concerted move higher enters a patch of clean air before resistance at 114-03+ and 114-10 from early-April.
Gilts opened higher by around 30 ticks before extending a handful more to a 93.86 peak, influenced by the upside seen in JGBs post-BoJ/Ueda. On the data front, April’s Manufacturing PMI was revised slightly higher (but still in contractionary territory) and a significant jump in Mortgage Lending during March; the latter comes alongside a 3bps drop in the effective rate on new and outstanding mortgages to 4.5% and 3.84% respectively during the period and ahead of Stamp Duty alterations which kicked in alongside the new FY in April.
Commodities
Crude is on the backfoot and trading lower by around USD 1.00/bbl, in a continuation of the prior day’s downside. As a reminder, oil prices slumped on Wednesday following reports that Saudi officials briefed allies and industry experts that the kingdom can sustain a prolonged period of low oil prices.
Gold is pressured given the positive risk tone in the US and as the Dollar makes modest gains. Yellow metal has been as low as USD 3.2k/oz, over USD 100/oz from the week’s opening levels despite the series of soft data for the US as the inflationary part of the stagflationary narrative and modest yield curve steepening weighs on XAU.
Base metals were contained trade overnight given the mass holiday closures and absence of the metals largest buyer, China, for a long weekend (May 1st-5th). This morning, 3M LME Copper has picked up tracking the broader macro tone with US futures strong after earnings, 3M LME Copper back above the USD 9.2k mark.
Geopolitics: Middle East
US Secretary of Defence Hegseth said Iran will pay the consequence for supporting Houthis.
Geopolitics: Ukraine
US and Ukraine signed an agreement on access to natural resources and to establish a US-Ukraine reconstruction investment fund. It was also reported that the US Treasury said the Treasury Department and US International Development Finance Corporation will work with Ukraine to finalise programme governance and advance the partnership, while it added that the agreement signals clearly to Russia that the Trump administration is committed to a peace process centred on a free, sovereign, and prosperous Ukraine over the long term. Furthermore, Treasury Secretary Bessent said the US–Ukraine economic partnership agreement allows the United States to invest alongside Ukraine to “unlock Ukraine’s growth assets”.
US Senator Graham, who is a close ally of President Trump, is forging ahead on a plan to impose new sanctions on Russia and steep tariffs on countries that buy Russian oil, gas and uranium, while the bill also would impose a 500% tariff on imported goods from any country that purchases Russian oil, gas, uranium and other products, according to WSJ.
8:30 am: Apr 19 Continuing Claims, est. 1864.5k, prior 1841k
9:45 am: Apr F S&P Global U.S. Manufacturing PMI, est. 50.5, prior 50.7
10:00 am: Apr ISM Manufacturing, est. 47.9, prior 49
10:00 am: Apr ISM Prices Paid, est. 73, prior 69.4
10:00 am: Mar Construction Spending MoM, est. 0.2%, prior 0.7%
2b European opening report
2c) Asian report
BoJ provided some dovish rhetoric, US-China trade updates, Mag 7 numbers ahead – Newsquawk Europe Market Open
Thursday, May 01, 2025 – 01:17 AM
APAC stocks traded higher but with gains capped in severely thinned conditions owing to mass holiday closures across the region and in Europe for Labour Day.
BoJ kept rates unchanged at 0.50% and provided some dovish rhetoric despite maintaining its rate hike signal.
US is said to have reached out to China recently for tariff talks, according to Bloomberg citing an influential social media account.
US stocks were boosted heading into the Wall St closing bell. Futures saw a further lift following strong earnings from Microsoft and Meta.
DXY is higher, JPY lags post-BoJ with USD/JPY eyeing 144 to the upside, EUR/USD sits around the 1.13 mark.
Looking ahead, highlights include US Challenger Layoffs, Jobless Claims & ISM Manufacturing, BoJ Governor Ueda’s Press Conference.
Earnings from Amazon, Apple, Riot Platforms, Reddit, Airbnb, Eli Lilly, Roblox, CVS, MasterCard, McDonald’s, Drax, Hiscox, Lloyds, Kerry, Whitbread, Standard Chartered & Telecom Italia.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
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US TRADE
EQUITIES
US stocks were choppy with early selling pressure seen following soft US data including a contraction in the advanced reading for Q1 GDP which was accompanied by rising Core PCE Prices to boost stagflationary concerns. Furthermore, the ADP employment report was soft ahead of Friday’s NFP and the Chicago PMI disappointed ahead of the ISM Manufacturing PMI on Thursday, while the March PCE was mixed overall but with upward revisions. As such, equity futures and T-notes tumbled in response to the data but recovered those losses by settlement, while the buying in stocks accelerated into the US cash close on month-end flows.
SPX +0.15% at 5,569, NDX +0.13% at 19,571, DJI +0.35% at 40,669, RUT -0.63% at 1,964.
US President Trump said tariffs have not kicked in yet and he knows China is doing very poorly right now, while he added that at a certain point, he hopes for a deal with China. Trump also said that fairness with China includes intellectual property and he does not want China’s products unless they are fair.
US President Trump said China’s ships are loaded up, much of which the US does not need and that China is having tremendous difficulty, while he added that China is the leading candidate for ‘Chief Ripper Off-er’. Furthermore, Trump said he thinks they are doing great on trade deals and separately commented that it will happen when asked if he will speak with China President Xi, while he also stated that Canadian PM Carney called him yesterday and said let’s make a deal.
US President Trump reiterated there is a very good chance that they will make a deal with China and any deal has to be on their terms, while he added that they are negotiating with India, South Korea and Japan.
US President Trump said after a certain amount of time, there will be a tariff wall for pharmaceutical companies.
USTR Greer said it is a matter of weeks not months to have initial trade deals announced and he is meeting with Japan, Guyana and Saudi Arabia on Thursday and with the Philippines on Friday. Greer added he wouldn’t say they are ‘finish-line’ close on an India trade deal but noted he has a standing call with India’s Trade Minister and said they are working closely with the UK and moving quickly with countries ready to move forward on trade. Furthermore, Greer said Canadian PM Carney is a serious person and that President Trump wants a healthy relationship in North America, while he added there are no official talks with China yet and that harmful foreign trade practices, including those in China, need to be addressed.
US is said to have reached out to China recently for tariff talks, according to Bloomberg citing influential social media account and CCTV affiliate Yuyuan Tantian.
China is to hold off on entering serious trade discussions with the US while it waits to see which of US President Trump’s advisers will have his ear and how other countries will respond to the 90-day pause on tariffs, according to a source cited by SCMP
EU is to present trade proposals to the US next week, according to Bloomberg citing officials.
US Commerce Secretary Lutnick said sovereign wealth funds want to invest in the US and that pharma and automakers are coming to the US, while he added that pharma knows they have to come home. Furthermore, Lutnick said tariff revenue is coming in for the external revenue service and he touted removing de-minimis to help small businesses.
US Senate narrowly rejected a bipartisan measure to block Trump tariffs with the vote count at 49-49.
NOTABLE HEADLINES
US President Trump said the “one big beautiful bill” may be bigger than tariffs and a tax increase is unsustainable if 2017 cuts are not continued.
US President Trump said we are going to have ‘Made in the USA’ like never before and he stated give us a little time to get moving regarding the economy. Furthermore, Trump said interest rates should go down and reiterated that “he (Powell) should reduce interest rates, I understand them better than him”, as well as noted it would be nice for people wanting to buy homes and things.
US President Trump told Elon Musk he is invited to stay for as long as he wants regarding working in the government, but noted that Musk wants to get back home to his cars.
US Treasury Secretary Bessent said President Trump has created negotiating leverage and leadership, while he said the US is on the verge of becoming an AI superpower.
There was some chatter that the House Ways and Means Committee is going to mark up their tax package on May 8th, according to Punchbowl. It was separately reported that the US House Panel dropped the proposal to remove the Federal Trade Commission’s antitrust authority from the budget package.
Wall Street firms are generally advising clients they should prepare for the Trump tariffs to bring the inflation rate up to 4% and for a slowdown in the economy by the summer, according to FBN’s Gasparino.
AFTER-MARKET EARNINGS
Microsoft Corp (MSFT) Q3 2025 (USD): Adj. EPS 3.46 (exp. 3.21), Revenue 70.1bln (exp. 68.41bln); shares rose 6.9% after-market.
Meta Platforms Inc (META) Q1 (USD) EPS 6.43 (exp. 5.23), Revenue 42.31bln (exp. 41.43bln); shares rose 5.4% after-market.
APAC stocks traded higher but with gains capped in severely thinned conditions owing to mass holiday closures across the region and in Europe for Labour Day.
ASX 200 eked mild gains as the outperformance in tech, real estate and consumer staples was offset by losses across the commodity-related sectors, while trade data was mixed as Australian monthly exports returned to growth but imports contracted.
Nikkei 225 advanced at the open after having reclaimed the 36,000 level and with further upside seen after the BoJ policy announcement where the central bank kept rates unchanged at 0.50% and provided some dovish rhetoric despite maintaining its rate hike signal.
US stocks were boosted heading into the Wall St closing bell. Futures (ES +1.1%, NQ +1.5%) saw a further lift following strong earnings from Microsoft and Meta.
FX
DXY held on to its gains after having strengthened against G10 peers into month-end and was ultimately unfazed by the soft US data releases stateside in which the GDP Advance reading came in below expectations and contracted for the first time in three years, while trade updates had little sway with USTR Greer noting it is a matter of weeks not months to have initial trade deals and US was said to have reached out to China recently for tariff talks, according to Bloomberg citing influential social media account Yuyuan Tantian which is an affiliate of Chinese state broadcaster CCTV.
EUR/USD remained subdued firmly beneath the 1.1400 level following the prior day’s declines despite stronger-than-expected EU GDP data and reports that the EU is to present trade proposals to the US next week.
GBP/USD remained pressured following a slide from the 1.3400 territory and eventually breached 1.3300 to the downside in the absence of UK-specific catalysts.
USD/JPY was underpinned after the BoJ policy decision in which the central bank kept rates unchanged, as expected, but cut its Real GDP and Core CPI estimates and essentially pushed back the timing for reaching the price goal.
Antipodeans were uneventful amid the mass holiday closures and with a muted reaction seen to the somewhat mixed Australian data and import/export prices.
BoC Minutes stated that ahead of the April 16th meeting, the Governing Council was split over whether to cut or hold as members favouring no change wanted to gain more information on US tariffs, backed a wait-and-see approach and felt another cut could be premature, given upward pressure on inflation from tariffs could come quickly. Meanwhile, members favouring a cut cited muted near-term inflation risks and signs the economy was weakening.
FIXED INCOME
10yr UST futures lacked firm direction following recent curve steepening in the aftermath of the disappointing US data and as participants await further key releases including Friday’s NFP report.
10yr JGB futures surged in the aftermath of the BoJ policy decision in which the central bank kept rates unchanged, lowered its projections for Real GDP and Core CPI and pushed back the timing for when underlying consumer inflation is likely to be at a level generally consistent with the 2% target.
COMMODITIES
Crude futures were stuck around the prior day’s trough after slumping amid source reports that Saudi officials briefed allies and industry experts that the kingdom can sustain a prolonged period of low oil prices.
Saudi officials reportedly briefed allies and industry experts that the kingdom can sustain a prolonged period of low oil prices, according to Reuters citing sources.
Spot gold retreated following the recent pullback to beneath the USD 3,300/oz level and after the precious metal notched its fourth consecutive monthly gain in April.
Copper futures traded sideways amid the mass holiday closures in the region including its largest buyer, China, which is shut for a five-day weekend.
CRYPTO
Bitcoin edged higher overnight and climbed to just shy of the USD 95,000 level before fading some of the gains.
Ripple offered to buy stablecoin rival Circle for up to USD 5bln although Circle was said to have rejected the Ripple bid as too low.
NOTABLE ASIA-PAC HEADLINES
BoJ maintained its short-term interest rate target at 0.5%, as expected, with the decision made by unanimous vote, while it said it will continue to raise the policy rate if the economy and prices move in line with its forecast and will conduct monetary policy appropriately from the perspective of sustainably and stably achieving the 2% inflation target. BoJ said Japan’s economic growth is likely to moderate and underlying consumer inflation is likely to be at a level generally consistent with the 2% target in the second half of the projection period from fiscal 2025 through 2027, as well as noted that uncertainty surrounding Japan’s economy and prices remains high with risks to the economic outlook and inflation outlook are skewed to the downside. Furthermore, it lowered its evaluation of the economic outlook and warned that a prolonged period of high uncertainties regarding trade and other policies could lead firms to focus more on cost-cutting, and as a result, moves to reflect price rises in wages could also weaken. In terms of the Outlook Report projections, the Real GDP median forecast for Fiscal 2025 was cut to 0.5% from 1.1% and the Fiscal 2026 estimate was cut to 0.7% from 1.0%, while the Core CPI median forecast for Fiscal 2025 was cut to 2.2% from 2.4% and the Fiscal 2026 forecast was cut to 1.7% from 2.0%.
DATA RECAP
Australian Balance on Goods (AUD)(Mar) 6,900M vs. Exp. 3,900M (Prev. 2,968M)
Australian Goods/Services Exports (Mar) 7.60% (Prev. -3.60%)
Australian Goods/Services Imports (Mar) -2.2% (Prev. 1.60%)
Australian Export Prices (Q1) 2.1% (Prev. 3.6%)
Australian Import Prices (Q1) 3.3% (Prev. 0.2%)
GEOPOLITICS
MIDDLE EAST
US Secretary of Defence Hegseth said Iran will pay the consequence for supporting Houthis.
RUSSIA-UKRAINE
US and Ukraine signed an agreement on access to natural resources and to establish a US-Ukraine reconstruction investment fund. It was also reported that the US Treasury said the Treasury Department and US International Development Finance Corporation will work with Ukraine to finalise programme governance and advance the partnership, while it added that the agreement signals clearly to Russia that the Trump administration is committed to a peace process centred on a free, sovereign, and prosperous Ukraine over the long term. Furthermore, Treasury Secretary Bessent said the US–Ukraine economic partnership agreement allows the United States to invest alongside Ukraine to “unlock Ukraine’s growth assets”.
US Senator Graham, who is a close ally of President Trump, is forging ahead on a plan to impose new sanctions on Russia and steep tariffs on countries that buy Russian oil, gas and uranium, while the bill also would impose a 500% tariff on imported goods from any country that purchases Russian oil, gas, uranium and other products, according to WSJ.
Russian President Putin said he has no doubt that Russia’s relations with Europe will be restored sooner or later.
EU High Representative for Foreign Affairs and Security Policy Kallas said the EU is readying a ‘Plan B’ should US President Trump walk away from Ukraine talks, according to FT.
OTHER
US Secretary of State Rubio spoke with Indian External Affairs Minister Subrahmanyam Jaishankar and encouraged India to work with Pakistan to de-escalate tensions and maintain peace and security in South Asia.
EU/UK
NOTABLE HEADLINES
ECB’s Makhlouf said price risks are less clear in the medium term than near-term.
EU Commissioner Dombrovskis said 12 EU member states have requested the activation of a national escape clause to boost defence spending.
3 .ASIA
3A NORTH KOREA/SOUTH KOREA
North Korea develops new power as it expands in naval ambitions;
(realcleardefense/Yu)
Strategic Implications Of North Korea’s Expanding Naval Ambition
North Korea’s recent unveiling of the Choe Hyon-class multipurpose destroyer signals a major transformation in its naval strategy, carrying profound and complex implications for regional and global security. The construction of this 5,000-ton warship marks a deliberate departure from Pyongyang’s traditional coastal defense doctrine, historically centered around small, fast attack craft optimized for littoral engagements. Instead, the new platform reflects an ambition to project power across broader maritime domains, signaling a strategic evolution towards an expeditionary, blue-water navy.
The enhanced operational radius provided by the Choe Hyon-class destroyer enables North Korea to extend its naval presence well beyond the Korean Peninsula, threatening key maritime routes and complicating the operational calculus of South Korea, Japan, and the United States. If this platform eventually secures the ability to launch nuclear-armed ballistic and cruise missiles, it would represent a transformative leap in Pyongyang’s deterrence posture. Equipped with vertical launch system (VLS), the destroyer could then field a diverse arsenal capable of targeting both land and sea-based assets across considerable distances, significantly elevating the strategic risks in the region.
If North Korea’s ongoing efforts to enhance its nuclear capabilities eventually lead to the deployment of nuclear warheads on this platform, the strategic landscape would be further destabilized. Sea-based nuclear platforms would introduce a new layer of strategic complexity. Unlike land-based missile systems, which are more readily tracked and targeted, mobile maritime platforms are inherently more elusive, complicating preemptive strike options and missile defense architectures. This mobility would grant North Korea a potent second-strike capability, eroding confidence in the stability of existing deterrence frameworks. As a result, adversaries may face greater difficulty in distinguishing between conventional and nuclear threats during a crisis, increasing the risk of inadvertent escalation.
The strategic implications would become even more acute if North Korea succeeds in complementing this surface capability with the acquisition of nuclear-powered submarines (SSNs) capable of launching submarine-launched ballistic missiles (SLBMs). Should Pyongyang succeed in fielding a credible SSBN (ballistic missile submarine) fleet, it would possess a survivable nuclear deterrent, fundamentally altering the strategic balance in Northeast Asia. Reports suggest that North Korea’s SSN program has received clandestine assistance, possibly from Russia, accelerating its timeline and technological sophistication.
The unveiling of the Choe Hyon-class destroyer must also be seen within the broader context of North Korea’s doctrinal shift toward proactive military operations. Moving away from a historically reactive defense posture, Pyongyang appears increasingly willing to embrace preemptive, offensive maritime strategies aimed at undermining U.S. and allied freedom of navigation in the region. This trajectory raises the possibility of North Korea seeking to impose a regional anti-access/area-denial (A2/AD) strategy, leveraging both land- and sea-based assets to constrain allied operational flexibility in a crisis.
Such developments risk fueling a maritime arms race in Northeast Asia, prompting South Korea, Japan, and the United States to accelerate investments in naval modernization, undersea warfare capabilities, and integrated missile defenses. Yet simply matching North Korea platform-for-platform would be insufficient. Addressing the broader strategic challenge requires a comprehensive approach that enhances maritime domain awareness, strengthens alliance interoperability, and builds layered missile defenses capable of countering both conventional and nuclear threats. Enhanced investment in anti-submarine warfare (ASW) capabilities, the deployment of more resilient undersea surveillance systems, the expansion of joint maritime exercises, and the establishment of rapid-reaction maritime forces will also be critical to preempt and deter potential provocations. In particular, South Korea should seriously consider pursuing its own nuclear-powered submarine program to enhance its underwater operational endurance and strategic deterrence, thereby reinforcing its ability to respond flexibly to the evolving undersea threat environment.
Ultimately, the deployment of advanced platforms like the Choe Hyon-class destroyer reflects not merely a technical upgrade, but a profound recalibration of North Korea’s strategic ambitions. Pyongyang is no longer content to deter adversaries solely through the threat of land-based nuclear retaliation; it seeks to establish itself as a maritime power capable of projecting coercive influence across the Indo-Pacific. If left unaddressed, North Korea’s evolving naval capabilities could significantly erode regional stability and embolden Pyongyang’s broader strategic calculus. A coordinated, multidimensional response from the United States, South Korea, Japan, and other regional stakeholders—encompassing deterrence, defense, diplomacy, and sustained pressure on North Korea’s illicit networks—is urgently required to mitigate these emerging threats and preserve a credible deterrence posture.
Jihoon Yu is a research fellow and the director of external cooperation at the Korea Institute for Defense Analyses. Jihoon was the member of Task Force for South Korea’s light aircraft carrier project and Jangbogo-III submarine project. He is the main author of the ROK Navy’s Navy Vision 2045. His area of expertise includes the ROK-US alliance, the ROK-Europe security cooperation, inter-Korean relations, national security, maritime security, and maritime strategy. He earned his MA in National Security Affairs from the US Naval Postgraduate School and PhD in Political Science from Syracuse University.
3B JAPAN
3C CHINA
4..EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
5 RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL/HAMAS
‘All you have to do is burn’: Hamas calls to set fires in Jerusalem, West Bank
“Youth of the West Bank, youth of Jerusalem, and those inside Israel, set their cars ablaze… Gaza awaits the revenge of the free,” the terrorist organization wrote.
Hamas posted a message encouraging Palestinians to “burn whatever you can of groves, forests, and settler homes,” on Telegram on Wednesday.
“Youth of the West Bank, youth of Jerusalem, and those inside Israel, set their cars ablaze… Gaza awaits the revenge of the free,” the terrorist organization wrote.
Earlier, the Jenin News Network Telegram channel called on Palestinians to “burn the groves near the settlements” in a post on Telegram on Wednesday.
As the wildfires continue to burn across central Israel, the channel posted a photo of a masked person setting fire to a field as a town burns in the background, with the text “Settlers’ homes will be ashes under the feet of the revolutionaries” and the hashtag “Burn settlers’ houses.”
The wildfires broke out in the Judean Hills on Wednesday morning and spread across the Jerusalem area as the day continued.
Firefighters try to extinguish a fire which broke out near Moshav Mesilat Zion, April 30, 2025. (credit: NOAM REVKIN FENTON / FLASH 90)
“O, youth of the West Bank,” called one inciting video. “Let us be the flame of freedom which will not die. Let us make their night – a burning day. Let us bring back to them the nightmares of the occupation, so they know that every day is a struggle for the resistance. Set fires of freedom everywhere. We will not give in and will not give up until we burn every piece of stolen land.”
On social media, the fires were also branded as “Flames of the Flood,” echoing Hamas’s name for the October 7th massacre, “Flood of Al-Aqsa”.
Palestinian news channel “Akhbar Filastin” tweeted on their X account (112,000 followers): “A call to the revolutionary youth and all the heroes of the West Bank.. Settlers’ homes and the surrounding areas are your target. Burn them with your Molotov cocktails and set fire to the grass near the settlement outposts.”
While the Telegram channel Jenin News (320,000 followers) wrote: “Calls from youth to burn forests close to the raped (lands)… The (Zionist) entity is Burning! This is an opportunity for you, to increase the fires, youth of Jerusalem and the occupied interior, raise your spirits and make up your mind, their settlements, set them ablaze.”
Notably, many Palestinian outlets refer to all Israelis as “settlers” and all cities and towns in the country as “settlements.”
Other posters shared on these channels included calls to “exploit the heat of the summer and set fire to the forests of the settlers. There will be not one settler left in our land.” while others wrote: “let’s burn their settlements and make them a living hell for them… Don’t underestimate what you have and what you can do.”
Earlier today, Channel 2 also reported arson attempts in the Jerusalem Hills.
Another poster promoted the slogan “Let the houses of the settlers become ash under the feet of the revolutionaries,” alongside the hashtag “Burn the Settlers’ Houses”
One channel posted a picture of the raging fires, adding: “For Gaza, which has never held back in its support for you: Go down there now and burn the forests and groves near the settlements!”
Another channel from the Jenin refugee camp uploaded posters showing the Israeli flag burning along with calls to “set fire to the forests of the occupation and its settlements… kudos to our youth, go and burn, go and burn”
Some channels even cursed at the Palestinian Authority for offering Israel to help with “the fires of the settlers near the settlements of Al-Quds,” also adding: “heroes of the West Bank and Jerusalem – this is your day. Exploit these fires and make them grow larger. Gasoline and a spark can make the entity a fiery hell. The settlements and their forests are your targets.”
Fire and Rescue Commissioner, Eyal Caspi, announced the authority’s alert level has been raised to the highest level.
An appeal has been made by Foreign Minister Gideon Sa’ar for international assistance from neighboring countries Greece, Croatia, Italy, Cyprus and Bulgaria, though assistance is not currently expected to arrive before nightfall.
All Independence Day events cancelled
Independence Day performances and activities have been canceled across the country due to the fires, the government announced.
The meteorological service put out reports as early as yesterday that this was a possibility. The Israel Fire and Rescue Authority recently requested many cancellations because that they would not be able to secure certain locations in case a fires were to break out.
ISRAEL HAMAS
Hundreds battle blazes ripping through Jerusalem area; fire may be Israel’s largest ever
IDF helps fire service, police fight wildfires in Jerusalem hills as towns evacuated, Jerusalem-Tel Aviv road closed; dozens suffer smoke inhalation, burns, but nobody seriously hurt
Footage shows fires raging near the Route 1 highway between Jerusalem and Tel Aviv, April 30, 2025; motorists forced to abandon their vehicles and flee on foot; trucks seen carrying some of those who had to escape; flames engulfing Yad La-Shiryon at Latrun, Israel’s official memorial site for fallen soldiers; emergency forces seen working to put out the fire (X; used in accordance with Clause 27a of the Copyright Law/Israel Police/Fire and Rescue Services)
As darkness fell Wednesday evening, the Fire and Rescue Service’s Jerusalem District commander warned of long, critical hours ahead, as firefighters battled out-of-control forest fires raging on the outskirts of Jerusalem with no signs of slowing down.
The fires in the Jerusalem hills area erupted on Wednesday morning, with the Fire and Rescue Service reporting blazes in at least five locations. The flames spread quickly, as a stifling heatwave and strong winds made it difficult to bring the blazes under control.
By Wednesday evening, the fire service said it had 163 firefighting teams on the ground and 12 firefighting planes battling the conflagrations surrounding Jerusalem at several key hotspots, including multiple places in Latrun, Neve Shalom and the Eshtaol Forest. There were also fires spreading in Mevo Horon, along Burma Road toward Beit Meir, Mesilat Zion, and near a gas station in Sha’ar Hagai.00:21 / 00:50
Dozens more firefighting units were tackling additional fires up and down the country at the same time. Dozens of people were hurt, though none were in serious condition.
Some 11,700 dunam (2,900 acres) were burned in the blazes, according to a Wednesday night estimate by Keren Kayemeth LeIsrael — Jewish National Fund, which said the Canada Park, near Latrun, had been almost completely torched.
At a press conference in the evacuated community of Eshtaol on Wednesday evening, the commander of the Fire and Rescue Service’s Jerusalem District, Shmulik Friedman, warned that the fire in the Jerusalem hills “may be the largest there has ever been in this country,” and was not yet even close to being contained.
He noted that the blaze broke out near Mesilat Zion, close to Beit Shemesh, at around 9:30 a.m., and was quickly carried west by strong winds before shifting direction eastward.
“Regarding our activity, it will continue for a very long time. We are far from having control [over the fires],” he said, warning that the fires may continue to worsen, as winds were expected to pick up and reach speeds of up to 90-100 kilometers per hour (56-62 mph).
People watch as a massive wildfire rages near moshav Beit Meir in the Jerusalem hills, April 30, 2025. (Chaim Goldberg/Flash90)
The underlying cause of the fires was not immediately clear, with Friedman telling reporters: “We have absolutely no clue, and we are not yet dealing with this.”
At least some of the fires blazing around Israel were suspected arson attacks, however, and the Shin Bet domestic security agency said that it was involved in investigating the conflagrations in the Jerusalem area, as well as assisting police in locating those who may have sparked the blazes.
To that end, a 50-year-old resident of East Jerusalem’s Umm Tuba neighborhood was arrested on suspicion of trying to ignite a fire in southern Jerusalem, after police received a tip that someone had been seen attempting to set fire to vegetation.
The suspect attempted to flee when approached by police, but was nabbed after a brief pursuit. Police said they found a lighter, cotton wool and other flammable materials on his person.
With the blaze continuing to spread eastward as the day wore on, police and emergency services ordered the evacuation of the communities of Neve Ilan, Shoresh, Nataf and Yad Hashmona, bringing the number of evacuated communities up to 10, although residents of Eshtaol and Mishmar Ayalon — both of which were evacuated earlier in the day — were informed they could return home not long after.
View of a massive wildfire near Mevo Horon, April 30, 2025. (Yonatan Sindel/Flash90)
Route 1 — the main road connecting Jerusalem and Tel Aviv — and Route 3 were both closed to traffic over the course of the day, and remained closed as of Wednesday night.
In an attempt to gain control of the rapidly encroaching flames, firefighters were concentrated on the area around Shoresh, and sending convoys toward the nearby HaMasrek nature reserve, with a spokesperson for the fire service saying they were working to extinguish the front of “an active and spreading fire.”
Shortly after the fire service ordered the latest round of evacuations, Israel’s most-watched television studio, Channel 12, announced that for the first time in its history, it was evacuating its studio, located in Neve Ilan, mid-broadcast.
Flames engulf trees during a forest fire near the central Israeli town of Beit Shemesh on April 30, 2025. (Ahmad Gharabli/AF)
Channel 12 news anchor Danny Kushmaro announced the “unprecedented” evacuation of the studio on air, a few minutes into the evening’s news broadcast, and handed over to his colleague in the channel’s “alternative studio” in Herzliya.
In addition to the firefighting crews battling the fires outside of Jerusalem, a Fire and Rescue Service spokesperson said 24 firefighting teams and four volunteer units had been dispatched to put out several blazes across northern Israel, including near Afula and Ramat Zvi.
A fire close to the Lower Galilee village of Rumat al-Heib was successfully contained by five firefighting crews.
An additional 12 teams from northern Israel were dispatched south to assist in fighting the fires outside of Jerusalem.
With the firefighting teams stretched thin, IDF Chief of Staff Lt. Gen. Eyal Zamir ordered the military to assist in battling the flames.
Responding to the call, the Israeli Air Force deployed several ground firefighting teams from airbases to extinguish the blazes, while the search and rescue Unit 669 carried out scans with its helicopters, alongside a Beechcraft King Air utility aircraft carrying out observation.
The Air Force also deployed C-130J Super Hercules heavy transport planes, known in the military as Shimshon, to participate in the firefighting efforts.
The Super Hercules plane can hold up to 18,000 liters (4,755 gallons) of firefighting materials.
An IAF C-130J Super Hercules is seen dropping fire retardant material over fires in the Jerusalem area, April 30, 2025. (Israel Defense Forces)
The military said Wednesday night that two Super Hercules planes had dropped more than 25 loads of fire retardant material over the fires, and that a third one was set to join the efforts within hours.
The Home Front Command, meanwhile, deployed 70 firefighters, two fire engines, two heavy construction vehicles to clear obstructions, and three water tanks, along with several teams of search and rescue cadets.
An IAF C-130J Super Hercules is seen dropping fire retardant material over the Mesilat Zion area, close to Jerusalem, April 30, 2025. (Fire and Rescue Service)
The Technological and Logistics Directorate also provided several fire engines and containers with over 100,000 liters of water.
However, the difficult weather conditions and the limitations of firefighting aircraft at night meant that these efforts wouldn’t be able to begin until Thursday morning.
In tandem with the domestic firefighting efforts, the Foreign Ministry said it had reached out to Greece, Cyprus, Croatia, Italy and Bulgaria for assistance.
Foreign Minister Gideon Sa’ar also spoke with the foreign ministers of the UK, France, the Czech Republic, Sweden, Argentina, Spain, North Macedonia and Azerbaijan, his office said, among others.
Responding to the request, according to Israel, Italy and Croatia sent three “Superscooper” firefighting planes, Romania said it would send two aircraft — a firefighting plane and another for logistical support — Spain said it would send two planes, France said it would dispatch one firefighting plane, Cyprus agreed to dispatch a helicopter, and additional countries expressed “willingness to assist,” including Ukraine and Ecuador, with other nations having offered to send helicopters in support.
The Palestinian Authority also offered to send firefighting teams to help with extinguishing the fires, but as of Wednesday night, Israel hadn’t responded to the offer.
As the fires continued to spread, hospitals and emergency services were bracing for an influx of casualties.
Hadassah Medical Center in Ein Kerem began asking non-urgent patients to leave the hospital on Wednesday afternoon, to prepare to receive casualties, and requested that the public avoid coming to the hospital unless it was “absolutely necessary.”
The Health Ministry said Wednesday night that this process was continuing, and that it was preparing to possibly evacuate all patients from the hospital except the most complex ones, who would be taken to its top floors, if the flames neared.
Elsewhere, at least 18 people were admitted to the Kaplan Medical Center and Shamir Medical Center, mostly due to smoke inhalation and burns.
People are treated on the side of the road during a forest fire near the central Israeli town of Beit Shemesh on April 30, 2025. (Ahmad Gharabli/AFP)
Among the injured were two pregnant women and two infants — one a month old and the other about six months old.
Another 10 people were treated by paramedics but did not require hospitalization.
Speaking to Ynet, the director of emergency medicine at Shamir Medical Center, Dr. Gal Pachis, said that none of those admitted were seriously injured, and they were not expected to remain in the hospital for long.
He said that the majority of those injured came from the Latrun area, which was evacuated earlier in the day ahead of a Memorial Day ceremony.
“One of the patients who was sent to us said that they escaped their vehicle at the last moment,” Pachis recounted. “The air in there was already very hot, and they managed to escape just before the whole car caught fire.”
In addition, the Fire and Rescue Service said that 12 firefighters had sustained light injuries while battling flames around Jerusalem
END
ISRAEL HAMAS
Trump: I believe that there are fewer than 24 hostages left alive in Gaza
“Out of 59 hostages, 24 are alive – but my understanding now is that that number is even smaller,” Trump said.
US PRESIDENT Donald Trump in the Oval Office last Friday: Since Trump’s election as president last November for a second term, the US has no longer been committed to the previous world order in which it had played such a major role in creating and running, the writer maintains.(photo credit: Nathan Howard/Reuters)
“Out of 59 hostages, 24 are alive – but my understanding now is that that number is even smaller,” Trump said.
He made the remarks at an event in honor of the US National Day of Prayer.
He also commented on the well-being of Israeli-American hostage Edan Alexander, saying, “We don’t know how he’s doing…We think we know. And hopefully positive.”
“Two months ago, we were pretty sure it looked like he was getting out, but they’ve toughened up a little bit and it’s a terrible thing,” Trump added.
Screenshot of hostage Edan Alexander from the propaganda video Hamas published on April 12, 2025. (credit: VIA HOSTAGES AND MISSING FAMILIES FORUM)
‘This attack wouldn’t have happened’ without Iranian money
“Edan, a boy from New Jersey, moved to Israel in 2022 and was taken hostage in the brutal attack on the Jewish people on October 7,” Trump continued. “Now I tell you – this is an attack that would have never happened, because the money that went to Hamas, came from Iran.”
During his speech, Trump said that Iran was a broke country and also stated that the US had imposed more sanctions on Iran. “Any oil that anyone takes from Iran, they’re not allowed to do business in the United States.”
“Your son could have been with us today,” Trump said. “October 7th would not have happened. I can’t imagine your pain. But we are all with you. And we will do everything we can in a very short time. We have brought a lot of hostages home but they want to do it as slowly as possible.”
END
Saudi normalization harmed, but still possible with win over Iran or Hamas – exclusive
Easiest path to normalization is still PA in Gaza, but there are some surprising other options, sources said.
Although Prime Minister Benjamin Netanyahu’s playing field to normalize relations with Saudi Arabia has been significantly slowed and harmed, there are still at least two surprising pathways to that crown jewel of Israeli-Arab normalization, The Jerusalem Post has learned.
Top Israeli sources acknowledge that the classic and easiest pathway to normalization has been and remains an end to the Israel-Hamas War, placing a reformed PA in charge of Gaza – along with moderate Arab allies – and progress toward a two-state vision, even if falling short of an actual two-state new reality.
But they argue that there are two other potential paths that are more in line with Netanyahu’s current regional vision that could also lead to normalization with Riyadh.
Surprisingly, one of the pathways is a complete defeat of Hamas in Gaza.
Although this would require continuing the war for some substantial additional time and many defense officials believe such a goal is unattainable given various constraints, others argue that both the Saudis and Egypt (unlike Qatar and Turkey) want Hamas removed from Gaza, given that they view the terror group as an extension of the Muslim Brotherhood which has threatened their countries as well.
Israeli Prime Minister Benjamin Netanyahu and Saudi Arabian Crown Prince Mohammed Bin Salman (credit: MARC ISRAEL SELLEM/REUTERS)
Really, the objection of many moderate Arab regimes who loathe Hamas is that Israel has been unsuccessful in removing Hamas for over 18 months, and if it continues to fail, then continuing the war is pointless and only undermines their stability and the stability of the region.
But in a theoretical scenario in which Israel could remove Hamas in a “reasonable” amount of time, they might view it as such a positive game changer toward greater future stability against the Muslim Brotherhood in the region that they might move toward normalization.
Israel would still likely need to make moves toward increasing trends of Palestinian self-determination, but even Jerusalem might object to this less if, in fact, Hamas was removed.
The second distinct potential pathway surprisingly has nothing to do with the Palestinians but with Iran.
In public, the Saudis currently oppose an Israeli strike on Tehran’s nuclear program and favor a new nuclear deal being negotiated by US President Donald Trump.
Unlike in 2015, when Riyadh opposed the Obama administration’s nuclear deal, in 2025, the Saudis are ready to sign on to Trump’s pact, even if it has holes.
The reasons for this change are complex, but the primary Saudi position currently is to support a diplomatic resolution to the Iranian nuclear crisis.
However, as with Gaza, there are other less likely scenarios that could lead the Saudis to switch sides and even normalize with Israel without a full change of the picture on the Palestinian front.
At the end of the day, the Saudis’ primary concern is stability, and their primary threat is still the Islamic Republic and its potential nuclear weapons, not Hamas.
What happens if Israel is successful?
In the event that Israel actually succeeded in destroying Iran’s nuclear program, some top Israeli officials believe the Saudis would be so enthusiastic about the removal of the Iranian threat that they would move to normalize relations with Jerusalem simply based on that radical outcome and a new cornerstone of regional stability.
As such, the Saudis are not actually against an Israeli airstrike on Tehran’s nuclear program that completely succeeds and leaves them untouched.
Rather, their worry is that such an airstrike would not succeed sufficiently and would leave the threat intact, leading the Iranians to push harder for nuclear weapons or respond to such a strike by mortally wounding the Saudi economy and ravaging some Saudi cities.
In 2019, Iran struck large portions of the Saudi economy, and Riyadh still does not believe it can defend against such a strike from Tehran.
As above with the Palestinians, this is why the Saudis prefer diplomacy and have even been sending top officials to get closer to Iran. Namely, they want to avoid high risks to themselves and the region.
Yet, if Israel took the high risk and rolled out a perfect outcome that did not harm Riyadh and removed the Iranian nuclear threat, the Saudis might very well shift from their risk-averse standard position to wanting to get closer to Israel as their broader protector and ally.
RUSSIA VS UKRAINE
Ukraine Signs Final Trump-Brokered Minerals Deal, Giving US Preferential Access To Resources
Wednesday, Apr 30, 2025 – 10:45 AM
Update(1740): After some last-minute hiccups which threatened to derail it, the US and Ukraine have finally signed the much-anticipated and controversial minerals deal.
“The deal will grant the US privileged access to new investment projects to develop Ukraine’s natural resources including aluminum, graphite, oil and natural gas,” the breaking Bloomberg note says.
Treasury Secretary Scott Bessent and Ukrainian Deputy Prime Minister Yulia Svyrydenko signed it late in the day Wednesday in Washington, after the US side demanded that all aspects on the table be agreed to by Kiev. Below are some known details of the landmark agreement via Axios:
The government-to-government agreement would establish a joint fund, with each country contributing 50% of the financing and future U.S. military assistance to Ukraine counting as a contribution to the fund.
The fund will be governed jointly and will have three U.S. members and three Ukrainian members on its board.
The money in the fund will be used for investments in the extraction of Ukraine’s rare earth minerals, oil and gas. The revenue will be split 50/50.
Kachka said the agreement gives the U.S. preferential access to investments in any operator that extracts rare earths in Ukraine and the first right of refusal for such investments.
So did Zelensky finally say “thank you” as previously requested by the Trump administration?
Update(1045ET): Another minerals deal headline that wasn’t… not for the first time, a Ukrainian delegation’s plane may have been literally rerouted mid-air amid Wednesday reports that the Trump-backed deal was to be signed in Washington within ‘hours’. Financial Times reports:
Ukraine’s first deputy prime minister, Yulia Svyrydenko, has flown to Washington to sign the deal with US treasury secretary Scott Bessent, said three Ukrainian officials. But problems arose as Svyrydenko’s plane headed to Washington, and Bessent’s team told her she should “be ready to sign all agreements, or go back home”, said three people familiar with the matter.
Apparently the Zelensky government was not ready to sign onto all that the Trump administration required. This even after the US reportedly dropped conditions related to Ukraine paying back debt for prior US military or financial assistance
“The US and Ukraine ran into last-minute hurdles on Wednesday as they were on the verge of signing a framework minerals deal, when a dispute over what had been agreed in marathon overnight negotiations cast doubt on the deal being finalized,” FT writes.
“The Americans want the Ukrainians to sign both the framework deal and a detailed fund agreement that would complete the full minerals deal on Wednesday, said two Ukrainian officials.”
This seems to be the same story on repeat for months: “One person familiar with the US’s thinking said on Wednesday that negotiations had not concluded because Ukraine had sought to revisit terms agreed at the weekend,” FT continues.
President Trump’s reaction is going to be interesting, given he’s already repeatedly blasted Zelensky for being ‘late’ on signing the deal. Washington could be ready at this point to cut him and the Ukrainian cause lose, after previously briefly halting arms transfers and intelligence-sharing.
* * *
After several false starts and timeline projections which didn’t pan out, Ukraine is imminently ready to sign the mineral resources deal with the US, Bloomberg has quoted a source close to negotiations as saying.
“The draft agreement, which envisages creating a joint fund to manage Ukraine’s investment projects, has been finalized and may be signed as soon as Wednesday, the person said, speaking on condition of anonymity because the talks are private,” the report says, noting that Ukrainian Economy Minister Yulia Svyrydenko is en route Washington for the signing.
A source in Ukrainian President Zelensky’s office has separately told the Kyiv Independent that it will be signed by Wednesday evening. A draft document says the deal seeks to create conditions to “increase investment in mining, energy, and related technology in Ukraine.”
Crucially, the agreement excludes any conditions which say it is related to Ukraine’s debt for prior US military or financial assistance. Kiev and many of its European allies had balked at that prior controversial proposal, which had centered on Trump’s insistence that Ukraine pay back the hundreds of billions provided by the American taxpayer after over three years of war.
Bloomberg details, “In another breakthrough, the US has agreed that only future military assistance it may provide to Ukraine following the signing of the deal would count toward its contribution to the fund, according to the document.”
Ukrainian Prime Minister Denys Shmyhal first unveiled Sunday that the Trump administration had dropped this requirement of paying back past debt.
The document “strengthens the strategic partnership between the Parties for the long-term reconstruction and modernization of Ukraine, in response to the large-scale destruction caused by Russia’s full-scale invasion” – but many specifics regarding rare earth mineral access remain unclear as of yet.
Washington and Kiev have until now spent months dancing around a deal that would allow the US access to Ukraine’s mineral deposits, which was originally proposed by Zelensky as part of his five-point “Victory Plan” unveiled last October to secure US support.
Many of Kiev’s supporters called it insultingly lopsided, and tantamount to a resource grab by the US, with Ukrainian lawmakers at one point calling an earlier revision to the mineral agreement a “horror” that offered no security guarantees from Washington.
Trump was really ramping up the pressure personally on Zelensky just last week…
An initial version of the deal sought to grant the Untied States access to all existing and future mineral deposits across Ukraine, along with oil and gas throughout the country. It would still have to be ratified by Ukrainian parliament after it is signed, theoretically at least and according to Ukrainian law.
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUE
When you buy those beautiful cupcakes and cookies at the grocery store, how much plastic are you eating? This is a burning question these days, as Americans have become newly aware of the real content of mainstream food.
MIT professor Retsef Levi has produced remarkable research detailing the extent of the problem of petroleum food dyes in normal products you eat every day. He did an analysis of 700K products in the USDA Global Branded Food Products Database and found over 85K products with at least one dye and some categories having well over 50 percent of products with at least one dye.
As is well known, these products have been credibility associated with behavioral disorders in the young and carcinogens in adults, which is why most countries in the world do not use them. Many dispute those findings, and arguments run in all directions. But these days, there is great concern about chronic disease in the young and a strong effort to address the issue through every means.
It makes sense that U.S. producers align themselves more with natural rather than synthetic dyes. It’s rather remarkable that the practice has continued as long as it has. Foreign travelers in the United States fear U.S. food in part for this reason. They would rather eat food, not plastic, and worry about what is really in our bright, delicious-looking, packaged foods.
Robert F. Kennedy, Jr. at HHS and Dr. Marty Makary at the FDA have taken aim at six of these dyes (in addition to two already identified under the last administration) and have scheduled them to be phased out as part of the agenda to make America healthy again. In this, they have faced remarkably little pushback. Few are willing to stand up in defense of synthetic dyes in our food and most people have a sense that we would be better off without.
This is why so far, the agreements to get rid of them are voluntary. They rely on cooperative understandings with industry rather than mandates. This seems right to me.
I’m of a libertarian cast of mind and generally feel like people should eat whatever they want. It’s up to the consumer and not government to decide such questions. Producers should use whatever ingredients customers want, and it does seem as if these products on the ban list have more or less been approved by the consumer marketplace.
In principle, I agree with Jeffrey Singer: “The HHS and FDA regulatory monopolies should not infringe on adults’ autonomy to choose less expensive or more visually appealing foods containing these substances, if they wish. Autonomous adults must have the freedom to make their own risk-benefit assessments.”
As usual, however, the situation is more complicated than merely freedom of choice or bans by the government. Vast amounts of the U.S. food industry benefits from subsidies in the form of SNAP benefits and school lunches, among other programs. These provide a high margin of profitability for the producers.
Government is the consumer in this case, and not a very discerning one. Producers manufacture products that sell well for particular industrial purposes. These often require very long shelf lives and the ability to sustain the look and feel of food from having traveled long distances in challenging temperatures.
It makes sense that petroleum and synthetic products make the journey from factory to shelf more easily than natural dyes like fruit juices and spices. The look is entirely different when using real food dyes. I was at a Vietnamese superstore that sells none of the synthetic products because no one would ever buy them. I looked at the colors of the sweets. They are certainly more dull and less optically appealing. On the other hand, they look like food used to look.
I shop often at local markets and trade with local bakeries so I don’t see much of these fake colors in food. Farmers markets don’t use them. On the other hand, these cater to a customer who is health- conscious and pays for the real deal. Most people do not do this.
An investigation into how these synthetic dyes got in our food takes us far back in time to the very first federal food regulation measure of 1906 that centered on regulating the meat-packing industry. The cover story was that it was eliminating unhealthy and dangerous practices. In reality, and as unpacked by many historians, the dominant lobbyists in the text and implementation of the controls were the major industrial firms.
This is how “poke and sniff” became the dominant way meat was inspected in this country. It was the opposite of safe and ended up spreading disease. But it also resulted in much higher costs for the industry that only the biggest players could bear. The practical effect was to drive out small meat packing companies and bolster a growing cartel in the industry. The 1906 act was not really about stopping bad practices, it was about entrenching large businesses as the controlling force of industrial planning.
This was only the beginning of what ended up being a century-long consolidation of the food industry. It firmed up at the New Deal, which implemented a central plan for agriculture complete with production limits, mandates, subsidies, and controls. Price controls in World War II strengthened it further. The mad dash toward gigantic food-production subsidies in the early 1970s consolidated the industry ever more.
Independent farmers were the ones who suffered.
What was being created here was not a “free market” but a food cartel that discriminated hard against small farms and local food and in favor of centralized and industrial methods of production. Ask any local farmer or rancher about the struggles they face. The regulatory barriers are huge and the mandates all-consuming. They cannot simply raise food and sell it. They face a barrage of investigations and regulatory hoops.
A free market is exactly what they want. But it doesn’t exist. They will tell you that the big producers in the market have all the advantages over them wheres they would be fine a genuinely competitive market.
Food production and distribution in the United States is famously consolidated. What seems like infinite choice at the supermarket is really an illusion. Depending on the product, the dominant producers are usually one of the big four: PepsiCo, Tyson, Nestlé, and Kraft. The smaller producers are in the mix but face intractable barriers.
The problem with corporate consolidation is that it creates uniform industrial practices designed less for the consumer and more for the well-being of the company and its systems. These dyes have been fine for that purpose, and perpetuated themselves without an adequate system of feedback from the market they serve.
This is a reason not to blame the free market for unhealthy food. We don’t have a free market. We have a corporatist system in which the biggest players rely on close cooperation with the FDA and other regulatory agencies to protect and consolidate their market share. They get away with practices that otherwise would be punished in a real market with consumer-based accountability.
There is an additional problem with the existence of the FDA itself. Most Americans believe that because of its presence, anything for sale at the store has necessarily been certified as safe and fine to eat. If something says it is healthy, it surely is.
In a genuine market economy without such an overlay of constant assurance from government, we might develop more of a habit of questioning the claims of producers or seeking out better sources of information. There would surely be private and accurate sources to which we could appeal.
In electronics, for example, Underwriters Laboratory has long certified the safety of products. It is not a government institution and gets no support from government so far as I can tell. It makes money entirely from fees from producers who pay to have their products certified as safe. If the company fails in its duties, it would face a huge blowback. The system works.
The FDA, on the other hand, has long presided over a system largely captured by industrial lobbyists, shared patent revenue, revolving doors of regulators from and to industry, and conflicts of interest that are rampant throughout the whole process of food and drug approvals.
The system is deeply compromised to the point that it blesses certain practices in production and distribution that could never survive a legitimate market test. They dominate precisely because market forces are not allowed to operate to enable a correction.
For this reason, and despite my preference for freedom in all matters, I’m not unhappy about the pushes against synthetic food dyes that are now being enacted. Arguably, this should just be the beginning, a course correction. The agencies have served to ratify and protect practices that otherwise would not have survived in a genuine marketplace.
Freedom of choice is essential but so is informed choice and a truly competitive marketplace.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.
END
RFK Jr. Shatters The Measles Narrative With One Brilliant Point
RFK Jr. is perhaps the most impactful HHS Secretary we’ve ever seen – but if you read the mainstream news, you’d think his first 100 days were a disaster.
While chronic disease drains trillions from Americans every year, the press can’t stop obsessing over measles.
It makes you think measles is a really big problem, but in reality, it’s not.
RFK Jr. expertly flipped this media narrative on its head in real time during his Wednesday night appearance on NewsNation—and it was so brilliant the audience gave him a round of applause.
NewsNation’s Chris Cuomo asked Kennedy:
“You weren’t saying that [get vaccinated] during COVID. That’s why people aren’t getting vaccinated. And now it’s a problem. How do you deal with that issue, and what responsibility do you have in terms of how people feel about getting vaccinated?”
NewsNation’s Chris Cuomo asked Kennedy:
“You weren’t saying that [get vaccinated] during COVID. That’s why people aren’t getting vaccinated. And now it’s a problem. How do you deal with that issue, and what responsibility do you have in terms of how people feel about getting… pic.twitter.com/UtIw0uiIml
Kennedy delivered a sharp, measured response. First, he pointed out that measles is a far smaller problem in the U.S. than it is globally.
He explained, “Right now we have about 842 cases, Chris. And Canada, they have about the same number. They have one-eighth of our population. Europe has ten times that number. Our numbers have plateaued.”
He noted that for years, the CDC has insisted the only way to manage measles is through universal vaccination. But Kennedy challenged that approach.
He argued that people who have concerns about the MMR vaccine—whether it’s due to aborted fetal debris or DNA particles—deserve access to treatment options.
“And that’s what we’re developing at CDC right now,” Kennedy said, “protocols for treating measles.”
Kennedy delivered a sharp, measured response. First, he pointed out that measles is a far smaller problem in the U.S. than it is globally.
He explained, “Right now we have about 842 cases, Chris. And Canada, they have about the same number. They have one-eighth of our… pic.twitter.com/UTIOUbPX5E
Kennedy then delivered a devastating jab at the dominant measles narrative, putting everything into perspective and leaving the panel silent.
“I want to say this,” Kennedy began.
“We’ve had four measles deaths in this country in 20 years. We have 100,000 autism cases a year. We have 38% of our kids now are diabetic or pre-diabetic. That should be in the headlines,” he said.
*Applause erupted*
“When I was a kid, there were 2 million measles cases a year and none of them got headlines. And we had 400 deaths. We had deaths between 1 in 1,200 and 1 in 10,000. We have so many kids now who are afflicted by chronic disease. And the media never covers them. They only want to cover measles,” he added.
“And what I’ve been saying to people is, let’s pay attention to other illnesses as well—illnesses that are really, really damaging our country, that are existential for our country. We now spend almost a trillion dollars a year on diabetes and metabolic disorder,” Kennedy explained.
Then he drove the point home, contrasting the media’s obsession with measles to its silence on autism.
“By 2035, we’re going to be spending a million dollars a year on autism. Autism in 1970 was 1 in 10,000 Americans. Today, it’s 1 in 31. In California, it’s 1 in every 20 kids—1 in every 12.5 boys,” he said.
“This is what the media ought to be focusing on, and it’s not. And because of that, we don’t have the solutions and we don’t have the cures.”
Kennedy then delivered a devastating jab at the dominant measles narrative, putting everything into perspective and leaving the panel silent.
“I want to say this,” Kennedy began.
“We’ve had four measles deaths in this country in 20 years. We have 100,000 autism cases a year. We… pic.twitter.com/c2PuNv6l2n
During that 90-second stretch, the NewsNation panel sat there stunned in silence.
No pushback, no rebuttal.
That’s because they knew Kennedy was dropping undeniable truths.
Cuomo and friends understand the media’s job isn’t to inform parents or educate the public on real health solutions.
They’re only there to smear people like Kennedy and make mountains out of molehills. Because they know if they leave him unresisted, the public might get a little too close to the truth.
In memory of those who “died suddenly” in the United States and worldwide, April 21-28, 2025
Actor Lar Park Lincoln (Knots Landing); comic Lulu Roman (Hee Haw); reality star Jiggly Caliente (44); effects expert Bruce Logan (Star Wars); celebrity matchmaker Amber Kelleher-Andrews (56, C); more
”Knots Landing” actress Lar Park Lincoln has died. She was 63
April 25, 2025
Lar Park Lincoln has lost her battle with breast cancer, her daughter confirmed to Fox News Digital. Lincoln was a beloved acting coach and founder of Actors Auditions Studios in Plano, Texas. The Dallas native was born in 1961 and began her acting career in the mid-1980s. She gained early recognition with roles in horror films such as “Friday the 13th Part VII: The New Blood (1988) and “House II: The Second Story” (1987). Her portrayal of Tina Shepard, a “telekinetic scream queen” facing off against Jason Voorhees, became a standout in the “Friday the 13th” franchise. In 1987, Lincoln joined the cast of “Knots Landing,” portraying Linda Fairgate, the daughter-in-law of Karen Fairgate, played by Michele Lee. Lincoln’s performance earned her a devoted fan base, and she continued to appear on the series until 1991. As her acting career spanned over four decades, she went on to earn a Bronze Halo Award for her contributions to the entertainment industry.
Lulu Roman, Popular ‘Hee Haw’ Comedian and Gospel Singer, Dies at 78
April 24, 2025
Lulu Roman, the brash Hee Haw comedian and gospel singer who delighted fans of the long-running country music variety show while turning her life around in the process, has died. She was 78. Roman died Wednesday in Bellingham, Washington, her son, Damon Roman, told The Hollywood Reporter. She had moved there to be with him seven months ago. No cause of death has been determined.
RuPaul’s Drag Race star Jiggly Caliente dies following leg amputation, aged 44
April 27, 2025
Bianca Castro, the RuPaul’s Drag Race US star known as Jiggly Caliente, has died, aged 44, following “a severe infection” that led to the amputation of her right leg. The news was announced by their family, who shared a statement on her Instagram page. “It is with profound sorrow that we announce the passing of Bianca Castro-Arebejo, known to the world and cherished by many as Jiggly Caliente,” it read. “A luminous presence in the worlds of entertainment and advocacy, Jiggly Caliente was celebrated for her infectious energy, fierce wit, and unwavering authenticity.” Castro was born in San Pedro, Laguna, in the Philippines, and moved to America with her mum and brother aged 10 where they lived in Queens, New York City.
Bruce Logan, VFX Pioneer on ‘Star Wars’ and ‘2001: A Space Odyssey,’ Dies at 78
April 25, 2025
Bruce Logan [left], the special effects pioneer and cinematographer whose credits include Stanley Kubrick’s 2001: A Space Odyssey and blowing up the Death Star in Star Wars: Episode IV — A New Hope, has died. He was 78. Logan died [unexpectedly] April 10 in Los Angeles [CA] after a short illness, his wife, Mariana Campos-Logan, told The Hollywood Reporter.
Celebrity matchmaker Amber Kelleher-Andrews, who worked with Eva Longoria, Paula Abdul and Hoda Kotb, dead at 56
April 25, 2025
Hollywood matchmaker Amber Kelleher-Andrews has passed away following a lengthy battle with ovariancancer. She was 56. The relationship broker, who worked as a model and actress before becoming a professional matchmaker, was best known for working with actress Eva Longoria, 50, on the short-lived NBC reality series “Ready for Love” in 2013. “Our family suffered a huge loss last week with the passing of my cousin Amber, who was born five days after me in 1969,” the celebrity matchmaker’s cousin, Morgan Kelleher, told DailyMail.com on Friday. Morgan also revealed that his late cousin was diagnosed with Stage 4 ovarian cancer in 2017. But although the cancer went into remission “within three months,” it later “returned even stronger than the first time. She fought for over four months this year, and never complained about the pain but found every opportunity to crack a joke, or make someone laugh.”
The Scarlet Opera bassist Daniel Zuker [31] has died following a brief diagnosis of Stage IV esophageal adenocarcinomacancer. Frontman Luka Bazulka revealed the devastating news on social media today. Zuker was diagnosed late last year, but revealed the news to fans in February 2025. The pop-rock band hails from Los Angeles, California, and is signed to Republic Records.
Award-winning musician and producer Garry Jones passed away
April 28, 2025
Award-winning musician and producer, Garry Jones passed away on Sunday evening, April 27, 2025, after a brief battle with metastatic cancer. He was 62 years old. Garry had recently returned to his roots, once again producing the music of Gold City. He co-produced their 2024 recording, Right Now, and penned several songs on that project. Gold City’s latest chart single, “Rise Up,” was written by Garry, and is currently climbing radio charts across the nation.
Prolific Producer Who Worked with Queen, The Cars, Journey, and Many More, Dead at 78
April 23, 2025
Roy Thomas Baker, the hugely successful producer who worked with some of rock and roll’s most influential and lauded acts, has died. According to a press release, Baker passed away on April 12 at the age of 78 in his Lake Havasu City, Arizona, home. His family just shared the news with the world today (April 22). His cause of death remains unknown.
Los Angeles, CA – Sadly, Engineer and producer Jamie McMann [48] has passed away. McMann worked on records by bands including Nofx, Swingin’ Utters, Tony Sly, Joey Cape, Leftover Crack, Me First and the Gimme Gimmes and a bunch more.
Former MLB Executive of the Year Walt Jocketty has died at the age of 74. Bob Nightengale of USA Today confirmed Jocketty’s passing on Saturday. Nightengale added that Jocketty had been dealing with “serious health issues” for the past two years. He had stepped back from his front office job in recent years, but still worked for the Reds as an executive advisor to the CEO.
Former Chicago Bears legend Steve McMichael has died at the age of 67 following his fight with amyotrophic lateral sclerosis (ALS). McMichael was diagnosed with ALS in 2021, and he had been in the news over the last few years due to status updates surrounding his health. On Wednesday, McMichael’s sister Sharon shared a post on social media stating that the former NFL star had been moved into hospice care. Just a few hours after Sharon disclosed that Steve had been placed into hospice care, news came out that he had died.
Former Tennessee linebacker Steve Kiner has died, the University of Tennessee announced Thursday. He was 77. Kiner played for the Vols from 1967-69 and was inducted into the College Football Hall of Fame in 1999.
Chito Martinez, former Baltimore Orioles outfielder and Mid-South resident, dies at 59
April 22, 2025
Chito Martinez, a Mid-South resident who was a former Baltimore Orioles outfielder, has died at age 59, according to a tweet April 22 from the Orioles. After being selected by the Kansas City Royals in the sixth round of the 1984 MLB draft, Martinez spent six seasons in the minor leagues − including two (1988-89) with the Memphis Chicks, then the Royals’ Double A affiliate. Martinez also became the first player in Orioles history to hit safely in the first six games of his career.
Nobel? No! see my prior stack on this; I do think Trump seeks peace & I am not him, nor you & we do not know what he is thinking; the port of Sevastopol (Crimea) is critical to Russia as a key ONLY
warm-water port and the ‘Crimean Peninsula, almost entirely surrounded by the Black Sea, has long been a fiercely disputed territory. Stuck in the middle of Ukraine and Russia, wedged between Putin and Zelensky, claims to the Crimea began centuries before the two presidents were alive.
But what makes this peninsula so valuable? Why would two countries risk a billion-dollar war over it? And why does each side believe it has a rightful claim?
Alexander News Network (ANN): Trump’s War 2.0 for America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Whoever controls Crimea gains military advantage and dominance in the Black Sea.
For Russia, the port of Sevastopol is especially critical as it offers the country’s most important deep-water, warm-water naval base. Its other ports on the Black Sea, Sochi and Novorossiysk, are shallow and require ships to moor offshore,
Crimea provides access into the Middle East, the Balkans, and the Mediterranean, and for Russia, a permanent home for its Black Sea fleet. By giving strategic control over the Black Sea, Crimea connects to the Mediterranean via the Bosporus Strait (through Turkey).’ Why does Russia want the Crimea? The fight for power in the Black Sea | The Standard
Overall, is Trump really favoring Ukraine? No. Can you say he is? Do I want US blood and treasure shed there? Anymore to go to that deadly war? No. No, not one more US dollar. None! Is the deal and discussions on deck today favoring Russia? No. On balance, no. In reality, Ukraine, and the pump-wearing cross dressing bi-sexual freak President Zelensky has no demand by USA to stop fighting Russia, in fact, he can continue. Just not with US help. US also while it is not saying Putin is to give back Crimean land, to cede land, is not demanding that the cross-dresser pump wearer ‘all the single ladies’ Zelensky not give any more territory. One may argue that US may still support Ukraine in the putative discussions and deal, yet we want none of that. We gave enough, it is Europe’s turn now but there is no insistence US no longer help nor Europe or any nation. So, Ukraine can still be helped to fight Putin. Russia at this time keeps Crimea. So what? No one cared before in 2014 or so and Trump is right when he recently remined us that.
So, on balance, is Trump favoring Russia? The only thing Russia has gotten is it gets to retain Crimea. What is your opinion? Russia already has Ukraine. It is not a GAIN! And Ukraine can live to fight more, another day. So maybe Trump is crafting a win- win and not shedding any US blood, and he gets the praise. And will be deserved for set Trump aside, is anyone doing what he Trump, is doing to get some peace? Can we give the brother Trump praise for this? Yes! Could we give the brother some sugar? Yes! I do not agree with some of what has happened under POTUS Trump, a clown car at times, his cabinet, some of them, and I do say it. I praise when it is due. Trump deserves praise!
___
You must not wait for another catastrophic crisis (at times manufactured but we are prevented from making our own basic personal decisions or accessing needed drugs and response tools) to catch you off-guard. We must take charge and be prepared today so that we can enjoy peace of mind tomorrow.
Enter the Wellness Company as a solution and a willing participant in the health care conversation. From telemedicine, prescriptions, memberships, and supplements, TWC is leading America with alternative choices to the traditional health care model.
The ink is barely dry on the ballots and already a whiff of corruption is infecting Ottawa and our political class at the highest levels. Weeks of hysterical shrieking about the Orange Man and an election victory framed by a firehose of propaganda, morphed overnight into a Mark Carney/Donald Trump bromance. The phoney patriotism based on hating our best neighbour, the elbows up absurdity, the maple leaf shopping gambits were the product of political manipulation underpinned by the notion that a common enemy unites.
Now, a few days after the vote — it’s like none of it ever happened and Carnage as a nickname for our PM is making perfect sense. Bodies are falling everywhere.
Our own scoop suggested Carney and Trump already had a cozy, but undisclosed relationship based on Brookfield bailing out Trump’s inept son-in-law to the tune of 1.2 billion. The deal was extremely controversial and the subject of Senate Finance Committee hearings in DC but legacy media kept it quiet. Brookfield facilitated Qatari money into the hands of Jared Kushner who was running the Middle East policy portfolio for his father-in-law. A massive conflict.
From Newsweek:
A biographer who covered Jared Kushner‘s real estate company compared his past financial woes to a “ticking time bomb” in relation to his alleged dealing with Qatari interests.
The Kushner Company, a family business for which former President Donald Trump‘s son-in-law now serves as president, was facing a $1.4 billion debt payment in 2017 for a property at 666 Fifth Avenue in New York City. Around that time, Kushner—then working as a senior advisor to Trump with a focus on Middle Eastern matters—visited Qatar to discuss a blockade imposed against the country, alongside Saudi Arabia and the United Arab Emirates.
Following the year, the Qatar blockade was lifted, with President Trump reversing his earlier support of his arrangement. Around the same time, according to The Real Deal, Brookfield Asset Management, paid $1.28 billion for a ground-floor lease at 666 Fifth, helping the company with its debt situation. The group’s second-largest stakeholder at the time was the sovereign wealth fund of Qatar, leading some to accuse Kushner of trading favourable political maneuvers in order to help his family’s business.
Carney was not officially involved in making the deal, he was very senior at Brookfield when it came under scrutiny by legislators later.
The bail out provides Trump and Carney with just enough dirt on each other to guarantee a relationship based on mutual dishonesty. You’ll recall that a couple of days ago, Carney got caught lying about an early phone call with Trump.
Why would a thin-skinned guy like Trump, so easily forgive Carney for trashing him during the campaign? And why would Carney be behaving with such deference to toward Trump — given that he has portrayed the president as an existential threat?
After a post-election phone call between the two, Trump revealed himself to be a fan of our new prime minister whose represents everything Trump himself campaigned against. Globalist, net-zero, and lefty, not to mention, anti-American. Our Prime Minister won based on Trump is Hitler. The president also threw under the bus, Pierre Poilievre which is odd given that some of Poilievre’s voters represent the Canadian version of MAGA — the people who aren’t slagging off Trump or cancelling and boycotting American holidays and products. Here is what Trump said:
In the meantime, it looks like Carney played his own voters and also his other fake best buddy, Conservative Premier Doug Ford who is now in the hot seat for betraying his own party to suck up to Carney. Ford was a nightmare during COVID-19 and has been carrying luggage for the Liberals for years. Calls for Ford to be replaced as party leader are growing in tone and volume.
We are governed by the worst people in the world. As I used to say about the Clintons, the playbook that gets them elected is so toxic that is should preclude them from ever holding power.
Meanwhile, watch the video below and weep for the robo-boomers who sold out their kids for a fake Trump-slayer.
They are laughing at us.
More, on this week’s show.
Stay critical
#truthovertribe
Trish Wood is Critical is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber
Ukraine signs long-awaited minerals deal, giving U.S. parental control of mineralsAfter weeks of tense negotiations, the U.S. and Ukraine have officially signed a controversial minerals deal, granting the U.S. significant access to Ukraine’s vast natural resources—particularly rare earth elements, aluminum, graphite, oil, and natural gas. According to a Bloomberg report, Treasury Secretary Scott Bessent and Ukrainian Deputy Prime Minister Yulia Svyrydenko finalized the agreement in Washington on Wednesday. This follows …READ MORE
Judge blocks Border Patrol to arrest illegal immigrants without warrantA federal judge has blocked the U.S. Border Patrol to arrest illegal immigrants without warrant in part of California, following allegations of unconstitutional detentions during a controversial enforcement operation earlier this year. U.S. District Judge Jennifer L. Thurston ruled Tuesday that agents may no longer arrest individuals suspected of being in the U.S. illegally without a warrant—unless they can demonstrate …READ MORE
EVOL NEWS
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL AND NATURAL GAS ISSUES/GLOBAL/ENERGY/
Zombie Tankers Emerge In Venezuelan Oil Trade
Wednesday, Apr 30, 2025 – 10:10 PM
An increasing number of “zombie” or “phantom” oil tankers—vessels that assume the identities of scrapped ships—have emerged off Venezuela’s coast, allowing dark fleet operators to circumvent U.S. trade restrictions on global oil transport.
According to a Bloomberg report, one of these zombie tankers was recently spotted off the waters of Malaysia after a two-month voyage from Venezuela, raising many red flags.
The report describes how dark fleet operators transform tankers into floating zombies:
The vessel raised some red flags: it was 32 years old, past the age at which it would normally have been scrapped, and it was sailing under the flag of Comoros, a popular flag of convenience that makes ships harder to monitor.
For all intents and purposes, though, it seemed like any other so-called dark fleet tanker that carries barrels of sometimes sanctioned oil from producers like Russia, Iran and Venezuela. Except it wasn’t.
The real Varada, which wasn’t sanctioned, had actually been demolished in Bangladesh in 2017. This vessel was what’s known as a zombie or phantom ship, which take on the identities of scrapped tankers to appear legitimate and avoid scrutiny from authorities in the U.S. and elsewhere.
Bloomberg investigators obtained ship-tracking data and satellite imagery showing that at least four zombie tankers have been involved in the Venezuelan oil trade with Asia. At the same time, the Trump administration ramped up maximum pressure, forcing Western oil firms to withdraw from the country.
Last week, John Hurley, a hedge fund veteran who’s been nominated to lead the Treasury Department’s terrorism and financial intelligence arm, warned about “consequences” for any nation that purchases Venezuelan oil.
Hurley would enforce President Trump’s executive order, which could impose 25% tariffs on countries that purchase crude from Venezuela.
“President Trump is sending a clear message that access to our economy is a privilege, not a right, and countries importing Venezuelan oil will face consequences,” Hurley wrote in responses to questions from the U.S. Senate Banking Committee.
Bloomberg first reported zombie tankers in September and November last year, and maritime intelligence analysts have been paying attention.
“Zombie ships are the third way,” Starboard analyst Mark Douglas said, adding, “The thinking is like: ‘I can’t afford to run my own system, so I’ll use another ship’s identity to get that oil from point A to point B.'”
Using a dark fleet network and zombie tankers, China has quietly become the largest buyer of Venezuelan oil. Perhaps tariffs alone will fall short—maybe Hurley’s strategy will involve slapping Beijing in the face with sanctions.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES/
INDIA /USA
CANADA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1325 UP 0.0003 PTS OR 3 BASIS POINTS
USA/ YEN 144.28 UP 1.2666 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 1.3307 UP .0006 OR 6 BASIS PTS
USA/CAN DOLLAR: 1.3816 UP 0.0022 (CDN DOLLAR DOWN 22 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED
Hang Seng CLOSED
AUSTRALIA CLOSED UP 0.30%
// EUROPEAN BOURSE: ALL MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED
/SHANGHAI CLOSED
AUSTRALIA BOURSE CLOSED UP 0.30%
(Nikkei (Japan) CLOSED UP 406.92 PTS OR 1.13%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 3233.80
silver:$32.25
USA dollar index early THURSDAY morning: 99.61 UP .34 BASIS POINTS FROM WEDNESDAY’s CLOSE.
The USA/Yuan XXXXXXXXXX, CNY ON SHORE ..CHINA MUST DEVALUE TO GOLD
THE USA/YUAN OFFSHORE UP TO 7.2731:
TURKISH LIRA: 38.44 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.257
Your closing 10 yr US bond yield DOWN 2 in basis points from WEDNESDAY at 4.153% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.693 UP 1 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.568 DOWN 5 BASIS PTS.
GOLD AT 11;00 AM 3230.65
SILVER AT 11;00: 32.43
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: THURSDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 1.95 PTS OR 0.02%
GERMAN DAX: closed
FRANCE: closed
Spain IBEX CLOSED
Italian MIB: CLOSED
WTI Oil price 58.22 11 EST/
Brent Oil: 61.03 11:00 EST
USA /RUSSIAN ROUBLE /// AT: 81.96 ROUBLE UP 0 AND 3/ 100
GERMAN 10 YR BOND YIELD; +2.4470 DOWN 1 BASIS PTS.
UK 10 YR YIELD: 4.4795 DOWN 1 BASIS POINTS
CDN 10 YEAR RATE: 3.138 DOWN 0 BASIS PTS.
CDN 5 YEAR RATE: 2.710 DOWN 2 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1288 DOWN 0.0034 OR 34 BASIS POINTS//
British Pound: 1.3282 DOWN .0038 OR 38 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.4840 up 5 FULL BASIS PTS//
JAPAN 10 YR YIELD: 1.261
USA dollar vs Japanese Yen: 145.57 UP 2.56 BASIS PTS
USA dollar vs Canadian dollar: 1.3837 up 0.0044 BASIS PTS CDN DOLLAR UP 44 BASIS PTS
West Texas intermediate oil: 59.11
Brent OIL: 61.90
USA 10 yr bond yield up 5 BASIS pts to 4.223
USA 30 yr bond yield UP 5 BASIS PTS to 4.732%
USA 2 YR BOND: UP 8 PTS AT 3.701%
CDN 10 YR RATE 3.129 UP 3 BASIS PTS
CDN 5 YEAR RATE: 2.722 UP 4 BASIS PTS
USA dollar index: 100.02 UP 75 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 38.45 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 82.05 DOWN 0 AND 5/100 roubles
GOLD $3228.65 (3:30 PM)
SILVER: 32.36 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 83.42 OR 0.21%
NASDAQ 100 UP 215.69 PTS OR 1.10%
VOLATILITY INDEX: 23.34 DOWN 1.36 PTS OR 5.51%
GLD: $ 297.46 DOWN 6.61 PTS OR 2.08%
SLV/ $29.39 DOWN 0.21 PTS OR OR 0.07%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 8.00 OR 0.03%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS
May-Day, May-Day, May-Day For Bonds & Bullion; Yay-Day For Big-Tech & Bitcoin
MORNING BIG NEWS
these are Chinese specs sellers. The POBC is on the buy side. Nothing to worry about!
Gold Tumbles On Near-Record Chinese Liquidations
Wednesday, Apr 30, 2025 – 10:58 PM
Just one week ago, China seemingly couldn’t get enough of gold, and the price of spot briefly touched a record $3500 as a result of, among other things, staggering inflows into Chinese gold ETFs such as the Huaan Yifu, Bosera and Guotai gold ETFs.
But, as with all things momentum-based in China, it’s easy come, easy go in the land of Dragons, and as Goldman commodity trader Adam Gillard writes, China liquidated what it bought last week ahead of the Labor Day holiday, resulting in total onshore positioning now 5% off the ATH. And while China’s share of total open interest remains on the highs at ~40%, upward momentum may have peaked for the time being.
Here is the story of Chinese gold buying… and then selling, in five charts.
Last Tuesday (22nd April) gold made an ATH as China added 1.2mn oz of positioning across SGE and SHFE, on record volume….
… so fast forward to today, when China liquidated a near-record 1mn oz across SHFE and SGE, reversing the entire April 22 blow-off top.
… although the ETF was largely unchanged
… Resulting in total Chinese positioning now ~5% off the ATH .
And the paper (spec) import arbitrage ~$20/oz off the highs
According to Gillard, who confirms our recent observation that all recent price moves take place exclusively around the time China opens…
… China is having a disproportionate impact on price because they execute during an illiquid part of the day (Asia morning) which likely triggers ex China CTA trading signals. Sure enough, gold is dumping in early Asian trading to the lowest level in 2 weeks.
Jobless Claims Jumped Last Week As ‘DOGE Actions’ Spark Biggest YTD Layoffs Since 202
Thursday, May 01, 2025 – 08:39 AM
So far this year, employers have announced 602,493, the highest year-to-date total since 2020 when 1,017,812 job cuts were recorded, according to the latest data from global outplacement and executive coaching firm Challenger, Gray & Christmas.
It is up 87% from the 322,043 cuts announced during the same period in 2024.
The Government leads all sectors in job cuts this year with 282,227; 281,452 of which are attributed to DOGE-related cost-cutting.
This is up 680% from the 36,195 job cuts announced in this sector through April 2024. In April, the number of job cuts announced in this industry was 2,782. DOGE actions were attributed to 2,731, while the rest were attributed to “Economic Conditions” and “Cost-Cutting.”
“DOGE Actions” lead all job cut reasons in 2025 with 283,172; 2,919 of which occurred in April. Another 6,945 cuts were attributed to “DOGE Downstream Impact” through April, primarily at Non-Profits and Education organizations. These reasons combined (290,117) make up 48% of all job cuts announced so far in 2025.
Market/Economic Conditions were cited for 95,348 job cuts, as economic uncertainty, consumer spending, and trade difficulties impact US-companies.
Tariffs were cited for 1,413 cuts so far this year, with 1,350 occurring in April. Restructuring accounted for 67,627, and 60,551 were due to store, unit, or location “Closing.”
This weak labor market data comes on the heels of yesterday’s dismal ADP Employment report.
This morning we see initial jobless claims jump notably too – to 241k (higher than the 223k expected). While not out of recent norms, this is a sizable jump…
Source: Bloomberg
Interestingly, New York dominated the surge in initial claims…
Continuing jobless claims also surged last week, back above 1.9 million Americans – its highest since Nov 2021…
Continuing claims for the ‘Deep TriState’ rose significantly last week…
Source: Bloomberg
As SouthBay Research highlights, the ~80K jump in Continuing Claims is relatively broad, with core drivers being New York (+14K), California (+9K), Connecticut (+5K), New Jersey (+4K), Texas (+6K).
This most definitely points to economic headwinds translating into lower payrolls.
While the 1-week 80K jump stems mainly from the seasonal adjustments (Non Seasonally Adjusted Continuing Claims rose 26K), it clearly points to lower hiring underway in the first 2-weeks of April. Precisely when the Nonfarm Payroll Survey was done.
Still, in context, it seems CEOs are all willing to whine about the economy but their actions speak louder than their words…
“Though the Government cuts are front and center, we saw job cuts across sectors last month. Generally, companies are citing the economy and new technology. Employers are slow to hire and limiting hiring plans as they wait and see what will happen with trade, supply chain, and consumer spending,” Andrew Challenger, Senior Vice President and workplace expert for Challenger, Gray & Christmas.
…and none of this is a good sign for tomorrow’s all-important payrolls print.
END
‘Beneficial Switching Away From Imports’ – US Manufacturing Surveys Signal No Recession In Q2
by Tyler Durden
Thursday, May 01, 2025 – 10:09 AM
Following a slew of regional Fed surveys (and various other sentiment readings) sending ‘soft’ data dramatically lower (as ‘hard’ data continues to strengthen), this morning’s Manufacturing PMIs are expected to signal further weakness.
Source: Bloomberg
The final S&P Global Manufacturing PMI did indeed disappoint, sliding from 50.7 flash print to 50.2 – exactly in line with March’s final print (but below the 50.5 expected).
ISM’s Manufacturing PMI beat expectations, printing 48.7 (down from the 49.0 in March but better than the 47.9 expectations) – lowest since Nov 2024.
So Hard data up, PMI flat, ISM down… take your pick
But none of the three factors point to a recession:
“The past relationship between the Manufacturing PMI® and the overall economy indicates that the April reading (48.7 percent) corresponds to a change of +1.8 percent in real gross domestic product (GDP) on an annualized basis,” says ISM’s Timothy Fiore.
Under the hood, all the main components beat expectations with New Orders and Employment improving and Prices Paid rising (but less than expected)…
Admittedly, respondents are fearful of the impact of tariffs to come:
“Uncertainty over tariffs is providing a big challenge from both Tier-1 suppliers we will have to pay tariffs on directly and Tier-2 suppliers that will try to pass tariffs through to us in the form of price increases and tariff surcharges.” [Chemical Products]
“Tariffs impacting operations — specifically, delayed border crossings and duties calculations that are complex and not completely understood. As a result, we are potentially overpaying duties. Unsure of potential drawbacks. Implementation of tariffs and their application is sudden and abrupt. The business is taking countermeasures.” [Transportation Equipment]
“Business climate is apprehensive, and with tariff costs implemented, all inbound Chinese shipments are on hold. It is not feasible for our business or customers to sustain the pricing required to provide an acceptable margin.” [Computer & Electronic Products]
“The most important topic is tariffs. Risks include margin erosion due to rising operational costs and freight delays disrupting delivery timelines. Supplier relationships are strained by pain-share negotiations, and competitors are gaining share by importing from lower-tariff regions.” [Food, Beverage & Tobacco Products]
“Tariff whiplash is causing us major issues with customers. The two issues we are seeing: (1) customers are holding back orders to understand what is happening with tariffs on their products or (2) they are forcing us to accept the tariffs, which causes us to ‘no quote’ the job as we cannot take on that type of risk for an order.” [Machinery]
“There is a lot of concern about the inflationary impacts from tariffs in our industry. Domestic producers are charging more for everything because they can.” [Fabricated Metal Products]
“Tariff trade wars are incredibly volatile, quickly changing, and disrupting a ton of our current work. We are 90 percent sourced out of China, and the cost models keep changing every week. We are flying to visit suppliers in a few weeks to negotiate current terms and pricing, as well as develop more long-term, strategic plans to reduce risk in the region.” [Apparel, Leather & Allied Products]
“Demand is slightly lower than plan, but it has been steady amid tariff concerns. Significant time has been spent quantifying the impact of changing tariff rates. Our costs will increase, and we are discussing how to share that impact across suppliers and customers.” [Electrical Equipment, Appliances & Components]
“The recently imposed 145-percent tariff rate on Chinese imports is significantly affecting our 2025 profitability. Due to the complexity of our parts and the lack of alternate sources, we are unable to find any alternate suppliers — especially at a reasonable cost — to our current Chinese sources. Incoming orders have slowed due to market volatility and uncertainty.” [Miscellaneous Manufacturing]
“Factory output fell for a second successive month as tariffs were widely blamed on a slump in export orders and curbed spending among customers more broadly amid rising uncertainty.
But, even they were forced to admit a small silver lining in the report…
“Although the survey saw some producers report evidence of beneficial tariff-related switching of customer demand away from imports, any such sales increase was countered by worries over tariff-related disruptions to supply chains and lost export sales.
This served to drive business confidence about prospects in the year ahead down sharply to the gloomiest for 10 months.
And just like all the other surveys, PMI respondents sees Prices rising…
“Concerns have also spiked in terms of input costs, especially for imported materials and components, due to the triple whammy of tariff-related price hikes, supply shortages, and the weaker dollar.
“Manufacturers are responding to these changing demand, supply and cost conditions by raising their selling prices and trimming headcounts to help protect their margins.”
So, take what you will from this – are these data points a reflection of reality or the incessant FUD being peddled by the mainstream media?
If you need a reminder, as we noted earlier, there is a massive gap between what CEOs are saying and what CEOs are doing…
Corporate CEOs are just like Long Onlies on Wall Street: everyone is "apocalyptic", nobody is selling…. only here everyone is "apocalyptic", and nobody is firing pic.twitter.com/Wtu0uNeRqt
Will CEOs suddenly announce massive waves of layoffs, or, with stocks now having erased all of the post-Liberation Day losses, will CEOs suddenly find a renewed optimism?
USE ECONOMIC NEWS
USA AUTO INDUSTRY
This is very inflationary!
Auto Sales Had “Robust” April, But Transaction Prices Now Set To Rise 6-12%: Deutsche Ban
Thursday, May 01, 2025 – 08:15 AM
By the numbers, April should be another strong month for the U.S. auto industry. According to analysis from Deutsche Bank’s auto team, led by Edison Yu, the seasonally adjusted annual rate (SAAR) for light vehicle sales is expected to come in at 17.5 million units.
That’s a sharp jump from the 16.0 million SAAR posted in April 2024 and only a modest decline from March’s 17.8 million pace. Sales volumes appear healthy across the board: total sales are up 11% year-over-year, with retail sales gaining 9% and fleet sales accelerating by 21%, the team wrote in a note out earlier this week.
Average transaction prices rose to $45,600—a 1.6% YoY increase—while industry-wide incentives fell 10.5% from March, signaling persistent consumer demand despite price inflation. One notable exception: Ford. The company raised its incentives 16% month-over-month, attributed to an aggressive employee pricing campaign aimed at clearing older inventory.
But while April paints a rosy picture, Deutsche Bank is flashing some warning signs for 2025. Last month, the firm cut its 2025 SAAR forecast to 15.4 million units, citing looming pressures from new tariffs and the inflationary impact of tightened final assembly rules. The analysis estimates automakers will need to raise prices by 6–12% just to comply with domestic assembly regulations—a figure that rises substantially when accounting for localized parts content.
In a market already stretched by affordability issues and rising interest rates, the prospect of further ATP hikes suggests that demand elasticity could finally buckle. What remains to be seen is how much more the American consumer can absorb before opting out of the new car market altogether.
In late April this same Deutsche team wrote that U.S. auto tariffs were increasingly looking like a permanent fixture and said they were closely monitoring how automakers are responding each week—particularly on pricing, incentives, and production shifts.
While the administration has hinted at potential relief, there’s still no clarity on what that might entail. For now, Deutsche Bank assumes a 25% tariff applies to all imported vehicles, except those qualifying under USCMA rules until customs can fully assess non-U.S. content. Imported parts are expected to fall under the tariff starting May 3rd.
Responses among automakers remain mixed. Ford plans to hike prices on new vehicles this month, Tesla is reportedly halting Chinese parts imports for its CyberCab and Semi programs, and layoffs are anticipated at Volvo truck plants.
Last week we noted that Deutsche Bank said automakers (OEMs) are adopting a wide range of strategies to navigate the uncertainty—adjusting pricing, incentives, and production plans on a rolling basis.
As House Republicans race to pass President Trump’s sweeping domestic policy package, serious internal divisions remain unresolved, casting doubt over whether the party can meet its own ambitious deadlines.
Speaker Mike Johnson has set a tight three-week window to pass a massive reconciliation bill intended to enact the core of Trump’s economic agenda. Yet as of May 1, lawmakers remain deadlocked on several of the package’s most contentious provisions, from tax policy to cuts in federal safety-net programs.
“We’re working through each of the final issues,” House Majority Leader Steve Scalise told Punchbowl News, acknowledging that the package is “coming down the wire” even as four committees have already advanced their legislative proposals. Behind the scenes, however, critical components of the legislation remain in flux.
Major Tax Questions Still Unanswered
Nowhere is the uncertainty more apparent than in the House Ways and Means Committee, where the $4.5 trillion tax section of the package remains in limbo. A formal markup has not been scheduled, though May 8 is being discussed as a target date, Punchbowl reports.
One of the most intractable issues is the state and local tax (SALT) deduction cap. Several Republican lawmakers from high-tax states, especially New York, are pressing for the $10,000 cap to be lifted or substantially increased. Speaker Johnson met Wednesday with members of the SALT Caucus to gather “final feedback” before a new cap is finalized.
But lawmakers involved in the talks described them as far from conclusive. “We’re still far away from being done,” said Representative Nick LaLota, Republican of New York. Proposals to raise the cap to $25,000 have failed to unify the group, and disagreements persist over how to address the so-called marriage penalty, which currently imposes the same cap on joint filers as on single taxpayers.
For GOP reps like LaLota and Mike Lawler, also of New York, resolving the SALT issue is politically non-negotiable.
Medicaid Cuts Draw Moderate Resistance
Similar discord surrounds proposed Medicaid changes. Republicans on the House Energy and Commerce Committee continue to deliberate over how to achieve $880 billion in savings, a task that has sparked pushback from centrist members concerned about the scale of potential cuts.
Representative Juan Ciscomani of Arizona said talks were “making progress” following a meeting with Committee Chair Brett Guthrie. Still, disagreements remain, particularly over proposals to impose per capita caps on Medicaid spending – a sticking point for members like Representative Don Bacon of Nebraska, who supports no more than $500 billion in total reductions.
“For them to do any more,” Mr. Bacon said, “they’re going to have to prove it doesn’t hurt people’s health care or hospitals.”
Energy and Commerce is scheduled to hold a markup on May 7, with Republicans on the panel meeting again Thursday morning to try to bridge remaining divides.
Food Stamp Reform in Flux
The Supplemental Nutrition Assistance Program (SNAP) has also emerged as a flashpoint. The House Agriculture Committee is under pressure to find $230 billion in savings but has yet to finalize a plan.
Chair Glenn Thompson of Pennsylvania is opposed to cutting benefits and instead favors a cost-sharing model that would shift more of the financial burden to states. However, that idea has drawn criticism from both the White House and within the Republican conference.
Mr. Bacon has suggested a simpler solution: scale back the required savings. “They need to lower the $230 [billion] to $100 [billion],” he said.
Mr. Thompson has signaled that he does not want to see changes to the Thrifty Food Plan, a government benchmark for SNAP benefit levels. But the path forward remains unclear as Republicans weigh political risks and the Trump administration awaits feedback on key proposals.
Clock’s ticking guys…
Trump administration officials have indicated they want Congress to complete the reconciliation process by July 4. Yet with major pieces of the package still unresolved, that deadline appears increasingly difficult to meet.
The current impasse reflects a broader challenge facing House Republicans: how to reconcile ideological differences within their own ranks while moving forward on a sprawling policy package. Each committee’s internal debate has created ripple effects, complicating the broader legislative effort.
The coming weeks will test whether the Republican leadership can align its members around the former president’s agenda – or whether the reconciliation effort will stall under the weight of unresolved conflicts.
VICTOR DAVIS HANSON
USA/ANTISEMITISM//HAMAS// REPORT
KING NEWS
The King Report May 1, 2025 Issue 7483
Independent View of the News
US Q1 GDP declined 0.3% (-0.2% final consensus) on an import surge to beat tariffs and the first contraction (1.4%) in government spending since Q2 2022. Net trade subtracted 4.83 percentage points from GDP on an annualized 41.3% surge in imports. Last negative GDP: Q1 2022.
Consumer spending increased 1.8%; 1.2% was consensus. The Core PCE Price Index jumped 3.5%; 3.1% was expected. The GDP Price Index jumped to 3.7% from 2.3%; 3.1% was consensus. Final Sales, economists’ preferred gauge, jumped 3%. Business investment in equipment surged 22.5% due to a Boeing strike’s end.
Table 2 –Contributions to Percentage Change in Real GDP Inventories 2.25, Fixed Investment 1.34 with Equipment 1.06% on Information Processing .96, Personal Consumption 1.21, Healthcare 0.46, Housing & Utilities 0.41 Net Exports -4.83 with Imports -5.03, Final consumption expenditures of nonprofit institutions serving households -0.31, Government -0.25 with Federal -.33 https://www.bea.gov/sites/default/files/2025-04/gdp1q25-adv.pd
@dlacalle_IA: US GDP: The private sector is strengthening, and government spending is falling. All this is undeniably positive. The sum of consumer spending and gross private fixed investment accelerates in the first quarter. Investment soars Imports’ rise is logical and will reverse in the next quarters.https://x.com/dlacalle_IA/status/1917608997391118366
Trump blames Biden ‘overhang’ after GDP shrinks in first quarter, says growth will ‘take a while’ “This is [former President Joe] Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,” Trump said in a Truth Social post. “Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden ‘Overhang,’” he claimed. “This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!” Trump wrote… https://t.co/DTnwLbfAvv
The PCE Price Index for March is 0.0% m/m & 2.3% y/y; 0.0% m/m & 2.2% were expected. The Core PCE Price Index for March is 0.0% m/m & 2.6% y/y; 0.1% m/m & 2.6% were consensus.
March Pending Home Sales 6.1% m/m & -0.1% y/y; 1.0% m/m & -5.7% y/y were expected.
The ADP Employment Change for April is 62k; 115k was consensus. Education & Health Services declined 23k. Leisure & Hospitality increased 27k. Firms with 20-49 employees lost 9k jobs. All other employee-size sectors gained jobs. https://adpemploymentreport.com/
ESMs and stocks declined sharply on recession angst. Bond rallied initially on the weak Q1 GDP and April ADP Employment Change but declined on the higher PCE and Core PCE for March.
ESMs opened modestly lower on Tuesday night and declined sharply, hitting a low of 5549,75 at 23:08 ET. ESMs then rallied to 5582.24 at 4:16 ET. After a modest retreat, ESMS traded sideways until they tumbled lower at 8:00 ET. ESMs hit a daily low of 5455.50 near 10:00 ET.
Robust buying to game the European close and April performance pushed ESMs to 5538.50 at 11:23 ET. ESMs then meandered higher, hitting 5544.25 at 12:06 ET.
After an A-B-C decline to 5512.25 at 13:13 ET, the afternoon rally took ESMs to 5572.50 at 14:07 ET. ESMs then retrench 13 handles and traded sideways until the final manipulation of April pushed ESMs to a new daily high of 5609.00 at 16:01 ET.
S&P Groups for April: Energy -13.73%, Healthcare -3.83%, Materials -2.24%; S&P 500 -0.76% Info tech +1.58%, Consumer Staples +1.08%
Positive aspects of previous session Copper got hammered; gasoline and oil declined smartly. The dollar rallied moderately. ESMs and stocks hit a panic low near 10:00 ET. An illegal late ESM manipulation to game April performance appeared.
Negative aspects of previous session USMs hit a high of 117 21/32 (+19/32) but sank to 116 2/32 (-1 point) on the GDP Report details. Stocks and ESMs declined sharply during early US trading.
Ambiguous aspects of previous session Will the possibility of a sharp US Q2 GDP rebound keep the Fed on ‘hold’ next week?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5528.05 Previous session S&P 500 Index High/Low: 5581.84; 5433.24
Employee hospitalized, diagnosed with failed pancreas after US investment bank forced 110-hour work week: report – Junior bankers at Robert W. Baird, the century-old, privately held investment bank based in Milwaukee, Wis., said they were assigned 20-hour workdays and that they were scolded if they left their desks after pulling an all-nighter, according to the Wall Street Journal. The report follows a spate of incidents in recent years during which at least two junior bankers — Carter McIntosh of Jefferies and former Bank of America analyst Leo Lukenas, 35 — died after they were made to work as much as 100 hours per week… https://nypost.com/2025/04/30/business/robert-w-baird-workers-hospitalized-after-110-hour-work-week-report/
MSFT Q3 EPS 3.46, 3.22 exp.; Revenue $70.07B, $68.48B exp.; MSFT soared as much as 7%.
META Q1 EPS 6.43, 5.25 exp.; Sales $42.31B, $41.39B exp.; META soared as much as 4%.
Early on Wednesday night, Trump slammed Powell again and reiterated that he is “not a huge fan of” Powell. “I comprehend interest much better than Powell… interest rates should go down.” DJT also said pharmaceutical companies will soon face a tariff wall. Trump was speaking at an “Investing in America” event at the White House.
The US Treasury announced the US-Ukraine mineral deal, finally.
Today is the end of Fangs reporting as Apple and Amazon report results after the close. Stocks tend to peak around this time. However, traders will play for start of May buying at or near the NYSE close.
ESMs are +50.00; NQMs are +270.00; and USMs are =7/32 at 20:12 ET on MSFT & Meta’s results. US stocks should soar early. The trick will be to keep those gains in the afternoon.
Expected econ data: Initial Jobless Claims 224k, Continuing Claims 1.865m; Apr S&P Global US Mfg. PMI 50.5; Apr ISM Mfg. 48, Prices Paid 73, Employment 45; Mar Construction Spending 0.2% m/m
S&P Index 50-day MA: 5602; 100-day MA: 5806; 150-day MA: 5821; 200-day MA: 5746 DJIA 50-day MA: 41,423; 100-day MA: 42,591; 150-day MA: 42,741; 200-day MA: 42,218 (Green is positive slope; Red is negative slope)
S&P 500 Index (5569.06 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender is positive; MACD is negative – a close below 5447.29 triggers a buy signal Weekly: Trender and MACD arenegative– a close above 5987.57 triggers a buy signal Daily: Trender is negative; MACD is positive – a close above 5645.69 triggers a buy signal Hourly: Trender and MACD are negative – a close above 5604.10 triggers a buy signal
@EchelonInsights: Since Donald Trump’s inauguration, support for mass deportation has not changed among voters overall. But underlying this lack of movement on the surface is… – A 22 net point shift in favor of mass deportation among Independents – A 14 net point shift against mass deportation among Democrats (On Dem & MSM directives) https://x.com/EchelonInsights/status/1916929372495221078
@nicksortor: Deported MS-13 gang member Kilmar Abrego Garcia ABUSED his children and threatened to KlLL his wife, per yet ANOTHER protective order filing obtained by Fox News
@KyleMartinsen_: TODAY: Hakeem Jeffries tells Democrats no more trips to El Salvador. LAST WEEK: Hakeem Jeffries encouraged trips to El Salvador—saying Van Hollen showed “great leadership” and it was “exactly the type of action that, as members of Congress, we can do.” What changed? https://x.com/KyleMartinsen_/status/1917596373333033050
@ItsYourGov: We have asked the @FBI to release records regarding (Dem Rep, NY) Jamie Raskin’s father, a suspected communist agent, and his group the Institute for Policy Studies… https://x.com/ItsYourGov/status/1917592269710057703
Tim Walz says Harris picked him for VP to ‘code talk to white guys’https://trib.al/jBfFtAh (Not a parody!)
@seanmdav: With very few exceptions, Republicans in Congress don’t seem interested in doing anything other than being in Congress. As our country teeters on collapse, the most powerful branch in our government is run by do-nothings who are terrified of using their power to save the country, while their opponents are champing at the bit to get power back so they can finish us off once and for all.
@DailyCaller: During Supreme Court oral argument today, Justice Sotomayor CUT OFF Justice Jackson when she questioned a lawyer- “just let him finish,” Sotomayor interjected. (Jackson is an utter disgrace as SCOTUS Justice.)
The Times’ @larisamlbrown: EXCLUSIVE: European defence ministers said there was “no chance” they could muster a force of 64,000 to send to Ukraineand would even struggle to make up a force of 25,000 (which would include between 5-10,000 British troops) https://www.thetimes.com/article/726e3154-c716-4ab0-ab9a-3e9a44df3921
@Vermeullarmine: At the Battle of the Nations (Battle of Leipzig) in 1813, France and its allies put about 200,000 troops in the field, and the coalition forces numbered over 300,000. What on earth happened to Europe?
@libsoftiktok: Shri Thanedar, the Democrat Rep who filed impeachment charges against Trump, reportedly left over 150 dogs and monkeys to starve to death at an abandoned NJ testing lab that HE OWNED. This is the guy who wants to impeach Trump. Unbelievable.
GOP Sen. @BasedMikeLee: It appears we have yet another judge problem, as U.S. District Judge Jennifer Thurston (Biden appointed) has issued an order banning Border Patrol from arresting illegal aliens *unless they have a warrant* Officers routinely arrest—without an arrest warrant—when they acquire probable cause to believe a crime has been committed. 8 U.S.C. § 1357 expressly authorizes Border Patrol to make warrantless arrests for immigration violations, particularly if the person is entering the U.S. illegally. I cannot fathom the justification for a judicial order prohibiting the Border Patrol from arresting illegal aliens without a warrant.
@Ne_pas_couvrir: Henry Kissinger: “It was a grave mistake to let in so many people of totally different culture and religion and concepts. It creates a pressure group inside each country that does that.” https://x.com/Ne_pas_couvrir/status/1917419697160532183
“There is a point in the history of society when it becomes so pathologically soft and tender that among other things it sides even with those who harm it, criminals, and does this quite seriously and honestly. Punishing somehow seems unfair to it, and it is certain that imagining “punishment” and “being supposed to punish” hurts it, arouses fear in it. “Is it not enough to render him undangerous? Why still punish? Punishing itself is terrible.” With this question, herd morality, the morality of timidity, draws its ultimate consequence.” — Friedrich Nietzsche in Beyond Good and Evil
harveyorganblog.com 
