MAY 6//GOLD CLOSED UP $101.55 TO $3414.80 WHILE SILVER WAS UP A HUGE 92 CENTS TO $33.14//PLATINUM IS UP $28.85 TO $988.70//PLATINUM IS UP $34.20 TO $976.70/THE TWO BIG STORIES: HOUTHIS GIVE UP AND SURRENDER//AND THEN INDIA FIRES ON PAKISTAN//OTHER ISRAEL VS HAMAS UPDATES//HEZBOLLAH UPDATES/RUSSIA VS UKRAINE UPDATE/COVID UPDATES/VACCINE INJURY REPORT/DR PAUL ALEXANDER//MARK CRISPIN MILLER//SLAY NEWS ETC//NEWS ON THE MEETING WITH TRUMP OF THE USA AND CANADA’ CARNEY//SWAMP STORIES FOR YOU TONIGHT..
099 H DEUTSCHE BANK AG 87 118 C MACQUARIE FUTURES US 11 190 H BMO CAPITAL MARKETS 32 323 C HSBC 49 363 H WELLS FARGO SECURITI 18 657 H MORGAN STANLEY 100 661 C JP MORGAN SECURITIES 84 686 C STONEX FINANCIAL INC 1 737 C ADVANTAGE FUTURES 2 1 905 C ADM 7
TOTAL: 196 196 MONTH TO DATE: 12,825
JPMORGAN STOPPED 94/196
MAY
GOLD: NUMBER OF NOTICES FILED FOR MAY/2024. CONTRACT: 196 NOTICES FOR 19,600 OZ 0.6096 TONNES
total notices so far: 12,825 contracts for 1,282,500 OR 39.891 tonnes)
FOR MAY
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SILVER NOTICES: 107 NOTICE(S) FILED FOR 0.535 MILLION OZ/
total number of notices filed so far this month : 13,205 CONTRACTS (NOTICES) for 66.025 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD UP $101.55 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD:
HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.32 TONNES OF GOLD OUT OF THE GLD
INVENTORY RESTS AT 937.36 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER UP $0.92 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: ////A HUGE WITHDRAWAL OF 2.818 MILLION OZ OUT OF THE SLV//
CLOSING INVENTORY RESTS AT:
CLOSING INVENTORY: 448.783 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A MEGA HUGE SIZED 1066 CONTRACTS TO 137,571 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR GAIN OF ONLY $0.08 IN SILVER PRICING AT THE COMEX WITH RESPECT TO MONDAY’S TRADING. WE HAD A HUMONGOUS SIZED GAIN OF 1249 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A SMALL 83 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD A ZERO LIQUIDATION OF T.A.S. CONTRACTS COMEX TRADING MONDAY AS THEY DESPERATELY AGAIN TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST SEVERAL 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 FAILED ON MONDAY WITH SILVER’S SLIGHT GAIN IN PRICE AS 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 596 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 SMALL 83 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR STRONG 596 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN TUESDAY’S TRADING/ AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE GAINED A HUGE SIZED 1149 CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR TINY GAIN IN PRICE OF $0.08.
THE CME NOTIFIED US THAT FOR THE FIRST TWO DAYS OF THE MONTH OF MAY, WE HAD TWO CONSECUTIVE ISSUANCE OF EXCHANGE FOR RISK CONTRACTS OF 12.93 MILLION OZ. THESE EXCHANGE FOR RISKS MUST NOW BE ADDED TO OUR NORMAL DELIVERY SCHEDULE. THE RECIPIENT OF THIS LARGESS IS WITHOUT A DOUBT THE CENTRAL BANK OF INDIA. LOGICALLY ONLY A CENTRAL BANK WOULD ACCEPT THIS CRAZY CONTRACT WHEREBY THE CENTRAL BANK OF INDIA TAKES THE RISK OF DELIVERY FROM A BULLION BANK WHO CANNOT GUARANTEE DELIVERY OF PHYSICAL SILVER TO THEM.
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 MONDAY NIGHT/TUESDAY MORNING: A STRONG 569 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES
WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.08) AND WERE SUCCESSFUL IN KNOCKING OFF SOME NET SILVER LONGS FROM THEIR PERCH
WE HAD A SMALL 83 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 90 CONTRACT QUEUE JUMP OF 0.450 MILLION OZ AND THEN WE MUST ADD THOSE CRAZY CONTRACT EXCHANGE FOR RISK FOR 12.93 MILLION OZ
INITIAL STANDING FOR MAY: 70.080 MILLION OZ WHICH INCLUDES TODAY’S 0.450 MILLION QUEUE JUMP + 12.93 MILLION OZ (EX FOR RISK) EQUALS 83.01 MILLION OZ./
WE HAD:
/ HUGE COMEX OI GAIN+// A SMALL SIZED EFP ISSUANCE (83 CONTRACTS)/ VI) STRONG SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 596 CONTRACTS)
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: ADDED 575 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 4 DAYS, total 1644 contracts: OR 8.220 MILLION OZ (411 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 8.2200 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: 8.220 MILLION OZ (ISSUANCE WILL BE QUITE SMALL THIS MONTH)
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RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1066 CONTRACTS DESPITE OUR SMALL GAIN IN PRICE OF $0.08 IN SILVER PRICING AT THE COMEX// MONDAY.,. . THE CME NOTIFIED US THAT WE HAD A SMALL 83 CONTRACT EFP ISSUANCE CONTRACTS: 83 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
AND NOW MAY:
NEW STANDING FOR MAY: 70.080 MILLION OZ. (INCLUDES 0.450 MILLION OZ QUEUE JUMP + 12.93 MILLION OZ EXCHANGE FOR RISK ISSUANCE.//NEW TOTAL STANDING 83.01 MILLION OZ
THE NEW TAS ISSUANCE MONDAY NIGHT (596 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND FOR SURE MONDAY TRADING.
WE HAD 107 NOTICE(S) FILED TODAY FOR 0.535 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 ROSE BY A STRONG SIZED 3810 OI CONTRACTS TO 442,137 AND CLOSER TO 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 492 CONTRACTS //.
WE HAD A FAIR SIZED INCREASE IN COMEX OI (3810 CONTRACTS) . THIS OCCURRED DESPITE OUR STRONG GAIN OF $77.95 IN PRICE MONDAY. 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/) 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: 40.223 TONNES OF GOLD!
/ ALL OF THIS HAPPENED WITH OUR $77.95 GAIN IN PRICE WITH RESPECT TO MONDAY’S COMEX ///. WE HAD A FAIR SIZED GAN OF 3811 OI CONTRACTS (13.384 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 AS WELL AS THE SAME FOR APRIL AND NOW MAY….. A MONSTROUS 40.223 TONNES DESPITE IT BEING AN OFF MONTH. CENTRAL BANKERS ARE NOW WAITING PATIENTLY FOR THEIR DELIVERY OF GOLD VIA SLOW MOVING SHIPS.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A TINY SIZED 1 CONTRACT:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 442,629/NOW AT THE LOW END OF THE SCALE DESPITE THE HIGH PRICE OF GOLD!!
SILVER ALSO HAS A LOW COMEX OI OF 137,671 CONTRACTS!!
IN ESSENCE WE HAVE A GOOD SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3811 CONTRACTS WITH 3810 CONTRACTS INCREASED AT THE COMEX// AND A SMALL SIZED 1 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3811 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED AND CRIMINAL 1641 CONTRACTS ISSUED. WE HAD ZERO T.A.S. LIQUIDATION DURING THE COMEX SESSION MONDAY
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1 CONTRACT) ACCOMPANYING THE STRONG SIZED INCREASE IN COMEX OI OF 3810 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3811 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 40.223 TONNES ( WHICH WHICH INCLUDES OUR 0.6220 TONNES QUEUE JUMP)
NEW STANDING FOR GOLD, MAY CONTRACT ADVANCES TO: 40.223 TONNES OF GOLD.
.
/ 3) ZERO T.A.S. LIQUIDATION IN REMOVING ANY NET SPECULATOR LONGS, AS WE HAD 1)A $77.95 COMEX PRICE GAIN.. WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED WITH OUR GOOD GAIN OF 4303 CONTRACTS ON OUR TWO EXCHANGES// /./ ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED MONDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL AND THUS OUR HUGE TONNAGE STANDING FOR GOLD FOR MAY.
4) FAIR SIZED COMEX OI GAIN// 5) SMALL SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER (1 CONTRACTS)///STRONG T.A.S. ISSUANCE: 1641 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 MAY :
TOTAL EFP CONTRACTS ISSUED: 2805 CONTRACTS OR 280,500 OZ OR 8.7247 TONNES IN 4 TRADING DAY(S) AND THUS AVERAGING: 701 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN4 TRADING DAY(S) IN TONNES 8.7247 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 8.7247 TONNES DIVIDED BY 3550 x 100% TONNES = 0.245% 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: 8.7247 TONNES OF GOLD EFP ISSUANCE
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 ROSE BY A HUGE SIZED 1066 CONTRACTS OI TO 137,571 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 7 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 83 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 83 and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 720 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 1066 CONTRACTS AND ADD TO THE 83 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1149 CONTRACTS DESPITE THE TINY GAIN IN PRICE OF $0.08 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 6.245 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 TUESDAY MORNING//MONDAY NIGHT
SHANGHAI CLOSED UP 37.08 PTS OR 1.13%
//Hang Seng CLOSED UP 158.03 PTS OR .70%
// Nikkei CLOSED //Australia’s all ordinaries CLOSED DOWN .06%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.2172 OFFSHORE CLOSED UP AT 7.2125 / Oil UP TO 59.27 dollars per barrel for WTI and BRENT UP TO 62,15 Stocks in Europe OPENED MOSTLY ALL GREEN
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING S:/ONSHORE YUAN UP TRADING AT 72172 AND STRONGER//
UP 7.2125 AGAINST US DOLLAR/OFFSHORE YUAN AND THUS STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED3810 CONTRACTS TO 442,137 WITH OUR STRONG GAIN IN PRICE OF $77.95 WITH RESPECT TO MONDAY’S // TRADING. WE LOST ZERO NUMBER OF NET LONGS WITH THAT PRICE GAIN FOR GOLD. AND AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A TINY TINY NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1 ).
THE CME ANNOUNCED MONDAY NIGHT, A 0 EXCHANGE FOR RISK CONTRACT ISSUANCE FOR 0 OZ OR 0.0 TONNES. TOTAL ISSUANCE FOR MAY IS ZERO. 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 GOOD SIZED GAIN ON OUR TWO EXCHANGES OF 3811 CONTRACTS WITH OUR STRONG GAIN IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON MONSDAY 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 AND ONTO MAY, 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 LITTLE LARGER THAN FROM OUR PREVIOUS FEW DAYS AT 1769 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 AND THIS CONTINUED INTO MAY AS YOU WILL SEE BELOW ANOTHER MASSIVE QUEUE JUMP OCCURRED ON MAY’S DELIVERY CYCLE AND ANOTHER HUGE QUEUE JUMP MONDAY NIGHT AT 0.628 TONNES
THE TONNAGE STANDING FOR GOLD FOR MAY IS NOW 40.223 TONNES (WHICH INCLUDES TODAY’S MASSIVE QUEUE JUMP)
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 221 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 TINY TINY SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A TINY SIZED 1 EFP CONTRACT WAS ISSUED: : /JUNE 1 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1 CONTRACT. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD GENERALLY DELIVERED COMES FROM LONDON BUT THEY ARE OUT!! THUS COMEX BECOMES THE MAJOR SOURCE FOR OUR CENTRAL BANKERS.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED TOTAL OF 4303 CONTRACTS IN THAT 1 CONTRACT LONG WAS TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED GAIN OF 3810 COMEX CONTRACTS..AND THIS GOOD GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR STRONG GAIN IN PRICE OF $77.95 /// MONDAY/ 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!
WE HAD NO:
LIQUIDATION OF OUR T.A.S. SPREADERS
ZERO 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 MONDAY NIGHT/TUESDAY MORNING WAS A FAIR SIZED 1641 CONTRACTS,
THE RAIDS ON OPTIONS EXPIRY APRIL MONTH AND THE FORTHCOMING MAY OPTIONS EXPIRY IN 3 WEEKS ACCOMPLISHES 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 MAY
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 INITAL GOLD TONNES STANDING FIRST DAY NOTICE PLUS 0.628 TONNES QUEUE JUMP MAY 6 = 40.223 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 40.223 TONNES
COMEX GOLD TRADING/MAY CONTRACT MONTH
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY A STRONG $77.95/ /)AND THEY WERE A UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A FAIR SIZED GAIN IN OI FROM TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD ZERO T.A.S. SPREADER LIQUIDATION MONDAY BUT THEY ARE STILL TRYING TO QUELL GOLD’S ATTEMPT AT FURTHER INCREASES ABOVE $3,400 AND STOP HUGE COMEX/OTC DERIVATIVE LOSSES FROM EXPLODING AS IT LOOKS LIKE THEY ARE NOW FAILING AS GOLD ATTEMPTS TO BREACH THAT 3400 DOLLAR BARRIER AS IT IS NOW TRADING EARLY MORNING CLOSE TO THAT LEVEL AT $3395.00 UP $78 DOLLARS ON THE DAY
MONDAY NIGHT/TUESDAY MORNING
THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL MONDAY EVENING/TUESDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING SEVERAL WEEKS TO DELIVER
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.
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.
MAY ISSUANCE OF EXCHANGE FOR RISK = ZERO SO FAR!
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 MAY CONTRACT
WE HAVE GAINED A FAIR SIZED TOTAL OF 13.384 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 GOOD 107 CONTRACT QUEUE JUMP FOR 10,700 OZ OR 0.628 TONNES. THIS QUEUE JUMP IS CENTRAL BANKS JUMPING AHEAD OF US MORTALS DEMANDING GOLD FOR THEIR RESERVES. THUS NEW STANDING ADVANCES TO 40.223 TONNES OF GOLD.
THUS MAY STANDING FOR GOLD SO FAR: 39.596 TONNES
ALL OF THIS HUGE STANDING WAS ACCOMPLISHED DESPITE OUR GAIN IN PRICE TO THE TUNE OF $77.95
WE HAD A SMALL 492 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.
NET GAIN ON THE TWO EXCHANGES 3811 CONTRACTS OR 381100 0Z (11.85 TONNES)
a)) Out of Brinks: 299,068.602 oz (9302 kilobars) b) Out of HSBC 99,250.137 oz (3087 kilobars)
total withdrawal: 398,318.739 oz(12,390 kilobars)
12.390 tonnes of gold
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 JPMorgan: 11,350.451 oz 353 kilobars
0.353 tonnes
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No of oz served (contracts) today
196 notice(s) 19600 OZ 0.6096 TONNES
No of oz to be served (notices)
107 contracts 10,700 OZ 0.3328 TONNES
Total monthly oz gold served (contracts) so far this month
12,825 notices 1,282,500 oz 39.891 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
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we have 1 customer entries
we have 1 customer entry deposits i) Into JPMorgan: 11,350.451 oz 353 kilobars
0.353 tonnes
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withdrawals:
withdrawals: 2 entries
a)) Out of Brinks: 299,068.602 oz (9302 kilobars) b) Out of HSBC 99,250.137 oz (3087 kilobars)
total withdrawal: 398,318.739 oz(12,390 kilobars)
12.390 tonnes of gold
adjustments: 1//first: Brinks//dealer to customer:
a) Brinks 32,016.960 oz
AMOUNT OF GOLD STANDING FOR MAY
THE FRONT MONTH OF MAY STANDS AT 303 CONTRACTS FOR A LOSS OF 1125 CONTRACTS. WE HAD 1327 CONTRACTS SERVED ON MONDDAY SO WE GAINED A STRONG 202 CONTRACTS OR 20,200 OZ FOR 0.628 TONNES
JUNE LOST ONLY 1116 CONTRACTS TO 308,187. JUNE BECOMES OUR NEW FRONT MONTH AND THIS MONTH WILL BE A WHOPPER OF A DELIVERY MONTH. THE FRBNY IS QUITE NERVOUS LOOKING AT JUNE OI.
JULY GAINED 59 CONTRACTS TO STAND AT 548
We had 196 contracts filed for today representing 19,600 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 196 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 84 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 (12,825 X 100 oz ) to which we add the difference between the open interest for the front month of MAY (303 CONTRACTS) minus the number of notices served upon today (196 x 100 oz per contract) equals 1,293,200 OZ OR 40.223 TONNES
thus the INITIAL standings for gold for the MAY contract month: No of notices filed so far (12,825 x 100 oz +we add the difference for front month of MAY (303 OI} minus the number of notices served upon today (196 x 100 oz) which equals 1,293,200 OZ OR 40.223 TONNES
TOTAL COMEX GOLD STANDING FOR MAY.: 40.223 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: 208.966million oz/500.643 oz million or 41.48%
TOTAL REGISTERED SILVER: 166.981 MILLION OZ//.TOTAL REG + ELIGIBLE. 500,643Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR MAY
silver open interest data:
FRONT MONTH OF MAY /2025 OI: 918 OPEN INTEREST CONTRACTS FOR A LOSS OF 124 CONTRACTS. WE HAD 214 NOTICES FILED ON MONDAY SO WE GAINED 90 CONTRACTS WHICH UNDERWENT A STRONG QUEUE JUMP OF 0.450 MILLION OZ WHERE THESE BOYS HAVE DECIDED TO TAKE DELIVERY OVER HERE. I MUST REPORT WE HAD 0 EXCHANGE FOR RISK ISSUANCE. THUS THE NEW TOTAL REMAINS AT TWO ISSUANCES OF EXCHANGE FOR RISK IS 12.93 MILLION OZ.
JUNE SAW A GAIN OF 2 CONTRACTS UP TO 3323 CONTRACTS.
JULY LOST 54 CONTRACTS DOWN TO 109,710
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 107 or 0.535 MILLION oz
CONFIRMED volume; ON MONDAY 43,326 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 13,205 X5,000 oz = 66.025 MILLION oz
to which we add the difference between the open interest for the front month of MAY (918) AND the number of notices served upon today (107 )x (5000 oz)
Thus the standings for silver for the MAY 2025 contract month: (13,205) Notices served so far) x 5000 oz + OI for the front month of MAY(918) minus number of notices served upon today (107)x 5000 oz equals silver standing for the MAY contract month equating to 70.080 MILLION OZ . THEN WE MUST ADD OUR NEW 12.93 TONNES OF EXCHANGE FOR RISK. NEW TOTAL STANDING FOR SILVER: 83.01 MILLION OZ
New total standing: 83.01 million oz which is huge for this NON active delivery month of MAY.
NO WONDER THE COMEX INVENTORY MOVEMENTS ARE GOING CRAZY!!!
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 166.981million 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 6 WITH GOLD UP $101.55 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 6.32 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 937.96 TONNES
MAY 5 WITH GOLD UP $77.95 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.13 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 944.28 TONNES
MAY 2 WITH GOLD UP $ 18.40 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.15 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 945.41 TONNES
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: 937.96 TONNES, TONIGHTS TOTAL
SILVER
MAY 6 WITH SILVER UP $0.92 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A HUG WITHDRAWAL OF 2.818 MILLION OZ OUT OF THE SLV ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ
MAY 5 WITH SILVER UP $0.08 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A SMALL DEPOSIT OF 0.117 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 450.602 MILLION OZ
MAY 2 WITH SILVER DOWN $0.19 /MASSIVE CHANGES IN SILVER INVENTORY AT THE SLV:A HUGE WITHDRAWAL OF 4.545 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 450.424 MILLION OZ
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
CLOSING INVENTORY 448.783 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY
PETER SCHIFF
2, EGON VON GREYERZ
ALASDAIR MACLEOD
3. C Powell and Gata dispatches
4. ANDREW MAGUIRE PODCAST 221
LIVE FROM THE VAULT NO 221 WITH ANDREW MAGUIRE
5B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES:COMMODITY//RARE EARTHS
6 CRYPTOCURRENCY NEWS
ASIA TRADING TUESDAY MORNING MONDAY NIGHT
SHANGHAI CLOSED UP 37.08 PTS OR 1.13%
//Hang Seng CLOSED UP 158.03 PTS OR .70%
// Nikkei CLOSED //Australia’s all ordinaries CLOSED DOWN .06%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.2172 OFFSHORE CLOSED UP AT 7.2125 / Oil UP TO 59.27 dollars per barrel for WTI and BRENT UP TO 62,15 Stocks in Europe OPENED MOSTLY ALL GREEN
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING S:/ONSHORE YUAN UP TRADING AT 72172 AND STRONGER//
UP 7.2125 AGAINST US DOLLAR/OFFSHORE YUAN AND THUS STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS /TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.2172 (CHINESE COMMUNIST PARTY MANIPULATED)
OFFSHORE YUAN: UP TO 7.2125 (CCP MANIPULATED)
SHANGHAI CLOSED UP 37.08 PTS OR 1.13%
HANG SENG CLOSED UP 158.03 PTS OR .70%
2. Nikkei closed
3. Europe stocks SO FAR: ALL RED
USA dollar INDEX UP TO 99.32// EURO RISES TO 1.1333 UP 21 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1.270//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 142.40…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and DOWN FOR UP this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.5345/Italian 10 Yr bond yield UP to 3.624 SPAIN 10 YR BOND YIELD UP TO 3.192%
3i Greek 10 year bond yield UP TO 3.373
3j Gold at $3394.50 Silver at: 33.15 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 18 /100 roubles/dollar; ROUBLE AT 81.12
3m oil into the 59 dollar handle for WTI and 62 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 142.80// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.270% 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 0.8248 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9347 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: 4.341 DOWN 0 BASIS PTS…
USA 30 YR BOND YIELD: 4.838 UP 1 BASIS PTS/
USA 2 YR BOND YIELD: 3.803 DOWN 4 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 38.61
10 YR UK BOND YIELD: 4.5801 UP 4 PTS
10 YR CANADA BOND YIELD: 3.223 UP 4 BASIS PTS
5 YR CANADA BOND YIELD: 2.811 UP 2 PTS
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2a New York OPENING REPORT
Futures Slide On Latest Batch Of Disappointing Earni
Tuesday, May 06, 2025 – 08:31 AM
US equity futures slumped for the second day, dragged down by earnings and a lack of positive news on trade negotiations. As of 8:00am, S&P 500 futures dropped 0.9% as risk is pared into tomorrow’s Fed announcement and the index failed to breach through technical resistance; Ford slumped after suspending its guidance and warned tariffs will reduce 2025 adjusted EBIT by about $1.5 billion; Nasdaq futures 100 dropped 1.1%, with all Mag7 stocks lower as Tesla and Meta led declines. Palantir tumbled 8% after the software firm’s results failed to meet investors’ expectations, while Ford slipped 3% after the carmaker pulled its financial guidance and flagged a tariff impact of about $2.5 billion on 2025 earnings. German stocks tumbled Estoxx 50 after incoming German chancellor Friedrich Merz suffered a shock setback when he fell short of a majority in an initial vote in the lower house of parliament to confirm him as Germany’s next chancellor. The yield curve is twisting steeper as USD comes for sale. Commodities are higher with WTI crude oil futures rebounding more than 2% from Monday’s YTD low close and gold is marching back to its ATHs. Trade Balance data is the macro data focus.
In premarket trading, Ford slips 2% as the automaker suspended its full-year financial guidance and said President Trump’s tariffs will take a toll on profit, joining rivals stung by volatile global trade policies. Palantir Technologies dropped 7% after the data-analysis software company posted financial results failed to meet investors’ expectations. Magnificent Seven stocks were all in the red: Tesla slips 1.6% as sales kept sliding across Europe’s biggest electric-car markets in April, despite the company rolling out an updated version of its most popular vehicle (Amazon -0.9%, Nvidia -1.4%, Meta -1.2%, Microsoft -0.7%, Apple -0.4%, Alphabet -0.8%). Here are the other notable premarket movers:
Celsius Holdings (CELH) falls about 4% after the energy-drink maker reported first-quarter revenue and adjusted EPS that trailed Wall Street expectations.
Constellation Energy (CEG) drops 6% after the power producer reported adjusted profit and Ebitda for the first quarter that fell short of expectations.
Datadog (DDOG) climbs 2% as the software company forecast revenue for the second quarter, guidance that beat the average analyst estimate.
DoorDash (DASH) falls 3% as the company is buying SevenRooms for $1.2 billion and Deliveroo for $3.9 billion, expanding its global reach and services.
Fabrinet (FN) drops 6% as the maker of optical communications products posted a sequential decline in datacom revenue.
Hims & Hers Health (HIMS) slumps 6% after the telehealth company gave guidance for second-quarter revenue that fell short of expectations. The firm also maintained its full-year sales outlook and Piper Sandler sees a lack of upside in the guidance.
Ichor (ICHR) drops 15% after the maker of fluid delivery subsystems for semiconductor capital equipment posted disappointing gross margins.
SolarEdge (SEDG) rises 13% after the solar equipment maker forecast revenue for the 2Q that beat the average analyst estimate.
Vertex Pharmaceuticals (VRTX) falls 5% after the company reported adjusted earnings per share for the first quarter that missed expectations.
WeRide Inc.’s US-listed shares (WRD) rise 12% after news that Uber Technologies is expanding its autonomous-vehicle partnership with the China-based firm to 15 more cities globally, including in Europe.
In Europe, the Stoxx 600 benchmark snapped a 10-day run of gains to drop 0.6%, its losses accelerating after incoming German chancellor Friedrich Merz failed suffered a shock setback when he fell short of a majority in a parliamentary vote to confirm him as Germany’s next chancellor, preventing his swearing in on Tuesday and pitching Europe’s biggest economy into uncharted territory. While the conservative leader is still expected to take charge of a ruling coalition of his CDU/CSU bloc and the Social Democrats, it was the first time since World War II that an incoming chancellor failed to secure backing from lawmakers in the first round of voting in the Bundestag and triggered chaos in Berlin’s government quarter. Meanwhile, European companies such as Royal Philips NV and Vestas Wind Systems A/S warned of uncertainty fueled by President Donald Trump’s trade tariffs; mining and industrial goods shares leading declines, while food beverage and energy stocks are the biggest outperformers. Here are the biggest movers Tuesday:
Fresenius Medical Care shares gain as much as 6%, to the highest since July 2023, after the kidney dialysis company reported results for the first quarter which some analysts said were better than expected
Vestas shares gain as much as 8.3% on Tuesday after it reported a first quarter orders beat and maintained guidance amid tariff uncertainty, which analysts welcomed
ALK-Abello shares advance as much as 5.7%, to the highest since Nov. 14, after the Danish allergy drugmaker reported better-than-expected revenue for the first quarter
Continental shares rise as much as 4.7% after the German firm more than doubled earnings in the first quarter as its car-parts unit slashed costs and tire sales bounced back from weaker levels last year
Hugo Boss’s shares rise as much as 10% after the suit maker’s earnings beat estimates, which analysts said was a relief, especially against a tough backdrop
Redcare Pharmacy shares fall as much as 9% after first-quarter results from the German online pharmacy provided little in the way of fresh catalysts to sustain a four-day winning streak
Castellum shares slumped as much as 8.6%, the worst performing stock on the Stoxx 600 Real Estate Index, after the Swedish landlord reported 1Q revenue that missed the average analyst estimate
Coloplast shares fall as much as 6.2%, to the lowest since February 2019, after the medical-products maker said CEO Kristian Villumsen stepped down from his role on May 5, with Lars Rasmussen becoming interim CEO
Elis drops as much as 5% despite maintaining its full-year guidance, with analysts expecting little change to current consensus. The French cleaning services group said tariffs aren’t expected to have any direct impact
Philips shares slip as much as 4% in early trading after the Dutch medical-technology firm cut its profitability outlook for the year, to take into account the estimated impact of tariffs
TeamViewer shares slide as much as 10% after reporting results that included various accounting adjustments as well as new acquisition 1E
Evotec shares fall as much as 9.6% as analysts point out the pharmaceutical firm’s results contained a miss in the research and development division and an increase in net debt
The slide in futures suggest that a recent burst of optimism fueled by some US trade concessions may already be fading. On Monday, the S&P 500 halted a nine-day rally that was its longest in about 20 years. While Ford’s warning served as a reminder that damage from the tariff war will become evident over the coming months, a run of firm economic data in recent days has caused traders to dial back bets on Federal Reserve interest-rate cuts.
“For us, it’s not the moment to add on risk,” said Nicolas Sopel, a strategist at Quintet Private Bank. “Even if there are successful negotiations between the US and China, tariffs will most likely be a lot higher than they were before Trump came into power. We will need time to see how deeply these increases impact the US economy,” according to Sopel, who has reduced US equity exposure.
Meanwhile, investors are coming around to the view that the Fed won’t cut interest rates as early or as deeply as earlier anticipated. While it’s expected to leave interest rates on hold this week, money markets have pushed back the timing of the first reduction to July and see three cuts by year-end, rather than the four they had expected a week ago.
“Recent comments from Fed Chair Powell suggest that the Fed will remain in wait-and-see mode over the near term,” Michael Krautzberger, AllianzGI’s chief investment office for fixed income, told clients. He also sees headwinds to the US dollar, and maintains “a short dollar footprint” in portfolios, he added.
Financial leaders at the Milken Institute Global Conference in Beverly Hills said they can live with tariffs and a reworking of trade, but want progress and an end to the chaos soon.
Meanwhile, the Bank of England is set to cut rates this week and may even pave the way for a series of back-to-back reductions in response to the trade war. The European Central Bank will also cut rates further, Governing Council member Yannis Stournaras, said.
Earlier in the session, Asian stocks advanced, as mainland Chinese shares rose on resilient holiday spending data and signs of easing trade tensions with the US. The MSCI Asia Pacific Ex-Japan Index gained as much as 0.7% before paring earlier gains. Communication services and consumer discretionary were among the best performing sectors. Chinese stocks outperformed in the region, as investors’ mood was lifted by strong retail sales and robust airline traffic results during the Labor Day holiday in early May. Traders also dialed up bets on easing tensions after Treasury Secretary Scott Bessent said the US could see “substantial progress in the coming weeks” in trade talks with China. The benchmark CSI 300 Index gained 1% on Tuesday. Hong Kong’s Hang Seng Index rose 0.7
In FX, the Bloomberg’s dollar index steadied after two days of losses, as the news on Merz weighed on the euro. However, the greenback is down nearly 7% this year and data shows traders have been adding to bearish bets. The fallout is being felt worldwide, with wild swings in recent days across Asian currencies, while Hong Kong has ramped up sales of its local currency to protect its foreign-exchange peg. China’s central bank kept the yuan’s daily reference rate little changed at 7.2008 per dollar as local markets reopened on Tuesday; the Taiwan dollar fell after gaining for six straight sessions
In rates, treasuries are mixed, with outperformance at the shorter-end of the curve. US 10-year yields rise 2 bps to 4.36% while two-year yields fall 1 bp; the front-end outperformance has 2s10s spread about 2bp wider on the day, off session highs reached during London morning. Bunds and gilts lag by 1bp and 2.5bp in the sector. The Treasury auction cycle continues with $42 billion 10-year new issue, following good demand for Monday’s 3-year note sale; WI 10-year yield near 4.355% is ~8bp richer than last month’s, which stopped through by 3bp; a $25b 30-year new issue Thursday will complete the cycle
In commodities, oil prices jump, with WTI rising 2.9% to $58.80 a barrel. Spot gold rises $40 to around $3,375/oz. Bitcoin is flat just above $94,000.
Looking at the US calendar, data releases will include US March trade balance data, the final April services and composite PMIs in the Eurozone, as well as March Eurozone PPI and France industrial production. The ECB’s Panetta is due to speak, while earnings releases include AMD, Arista Networks, Ferrari, Constellation Energy and Rivian.
Market Snapshot
S&P 500 mini -0.8%
Nasdaq 100 mini -1.1%
Russell 2000 mini -1.1%
Stoxx Europe 600 -0.9%
DAX -2%
CAC 40 -0.8%
10-year Treasury yield +1 basis point at 4.35%
VIX +1 points at 24.67
Bloomberg Dollar Index little changed at 1220.76
euro +0.2% at $1.1337
WTI crude +1.9% at $58.19/barrel
Top Overnight News
Friedrich Merz fell short of a majority in an initial vote in parliament to confirm him as Germany’s next chancellor, delaying his swearing-in for at least one day and prompting the anti-immigrant AfD to call for new elections. German bunds pared a decline. BBG
President Donald Trump on Monday signed an executive order to incentivize prescription drug manufacturing in the U.S., streamlining the path for pharmaceutical companies to build new production sites stateside as potential tariffs on imported medicines loom. CNBC
The Trump administration blocked Harvard from new research grants from the federal government. Access to the funding, worth over $1 billion a year, won’t be possible until the university shows “responsible management,” Education Secretary Linda McMahon said. BBG
US House Speaker Johnson said House Republicans remained on pace to pass the Trump agenda by Memorial Day or shortly thereafter and stated the Trump agenda is not facing a setback in the US House.
US Defense Secretary Hegseth ordered a reduction in 4-star positions in the military, according to a US official.
China’s Caixin services PMI came in a bit below expectations at 50.7 (vs. the Street 51.8) and per capita consumer spending over the May Day holiday was muted. RTRS
Chinese manufacturers are attempting to avoid the Trump administrations tariffs by fraudulently undervaluing cargo sent to the US, exploiting a system the American authorities have struggled to police. FT
Taiwanese central bank says 80% of FX reserves are US bonds. Taiwan Central Bank FX official says they feel the market has returned to a more stable situation today.
Hong Kong’s de-facto central bank said it sold HK$46.54 billion ($6 billion) into the market on Saturday to prevent the local currency from strengthening beyond its official peg to the U.S. dollar, the first such intervention in more than four years. RTRS
HKMA says has been lowering its duration in US treasury holdings; exchange fund has been diversifying into non-US assets Has been diversifying currency exposure in its investment portfolio to manage risks.
The PBOC set the daily yuan reference rate only marginally stronger than on Thursday, sidestepping the offshore yuan’s sizable appreciation during the long weekend. That effectively forces the offshore currency to give up recent gains, MLIV wrote. BBG
Spain’s blackout resulted in a €400 million loss to the economy. BBG
The US trade deficit probably widened in March as firms boosted imports again to front-load products ahead of tariffs. BBG
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly higher as Chinese participants returned from the Labor Day holiday but with the gains capped following disappointing Chinese Caixin Services PMI data and as markets in Japan and South Korea remained closed. ASX 200 traded little changed as strength in the commodity-related sectors were predominantly offset by underperformance in financials and defensives, while the larger-than-expected contraction in building approvals clouded over risk appetite. Hang Seng and Shanghai Comp gained on return from the extended weekend and took their opportunity to react to the recent China tariff rhetoric from US President Trump who said that he is willing to lower tariffs on China at some point, while the miss on Caixin Services PMI data did little to derail the positive sentiment in China.
Top Asian News
Chinese President Xi is prepared to work with EU leaders to expand mutual openness and properly handle frictions and differences, according to Xinhua Calls on the EU and China to safeguard fairness and justice.
China said 314mln domestic trips were made during the May holiday which was up 6.4% Y/Y and travel expenditure of domestic tourists rose 8% Y/Y to 180.3bln, according to CCTV.
US House intensified its legislative push against Beijing on Monday in which it advanced a slate of China-related bills targeting industrial espionage, export controls, national security threats and alleged human rights abuses.
Fast fashion platforms Shein and Temu boosted digital advertising in Europe with the most growth seen in France and the UK, while they see increased app downloads in France and the UK as US tariffs hit and Shein also boosted advertising in Brazil where it manufactures goods for Latin America.
HKMA intervened in which it bought USD 7.8bln against the HKD at 7.7500 after the HKD hit the strong end of the trading range.
European bourses (STOXX 600 -0.6%) opened mostly firmer/flat and traded tentatively on either side of the unchanged mark. Thereafter, the risk tone soon slipped after the HKMA said it says has been lowering its duration in US treasury holdings and as Germany’s Merz failed to secure enough votes to become Chancellor; DAX 40 -1.8%. The HKMA update sparked some modest pressure in US equity futures (ES -0.9%, NQ -1%); ahead of a handful of earnings and meetings between the US and Canadian Presidents. As for sectors, its a mixed picture in Europe. Food Beverage & Tobacco takes the top spot, joined closely by Utilities. To the downside, Basic Resources sits right at the foot of the pile – losses largely driven by Anglo American after Peabody said it may terminate its deal for its coal mine assets. For the Pharma industry; US President Trump said he will announce pharmaceutical tariffs over the next two weeks, while he signed an order to reduce regulatory barriers to domestic pharmaceutical manufacturing and will have an announcement next week related to the cost of medicines.
Top European News
Germany’s CDU leader Merz falls short of a majority needed to become Chancellor in first round of voting in parliament; secured 310 Bundestag votes, 316/630 required. On the second round of voting for German Chancellor Merz, Handelsblatt citing sources reports “The second round of voting could be postponed until Friday because the approval of the AfD is necessary for an immediate ballot”. There will not be a second vote on Merz becoming German Chancellor today, via Handelsblatt citing numerous reports and the CDU Secretary General.
EU is set to make it easier for UK professionals to work in the bloc, according to FT.
SNB Chairman Schlegel says is committed to its price stability mandate; biggest challenge at present is uncertainty. Ready to intervene in the FX market as necessary. Swiss inflation is expected to come down. Not ruled out negative rates. Nobody likes negative rates but if have to, are prepared to do it again.
FX
After an attempted recovery last week, the USD has continued to ebb lower after DXY failed to sustain a move above the 100 mark, despite a solid showing for US ISM services. HKMA said it has been lowering its duration in US treasury holdings and has been diversifying into non-US assets. DXY is currently towards the lower end of Monday’s 99.46-100.05 range.
EUR is firmer vs. the broadly weaker USD as Eurozone-specific newsflow remains on the light side. ECB-dove Stournaras noted he does not see inflation if the EU tariff reaction is selective and it seems the ECB will continue with rate cuts. EUR/USD has gained a firmer footing on a 1.13 handle but is yet to approach Monday’s high at 1.1364 with some of the upward momentum for the currency stalled in recent trade after Germany’s CDU leader Merz fell short of a majority needed to become Chancellor in the first round of voting in parliament.
USD/JPY traded indecisively overnight and failed to sustain a brief return to the 144.00 level with price action largely driven by the dollar amid the continued absence of Japanese participants. In European trade, downside was seen for the pair as global equity futures ebbed lower. USD/JPY has delved as low as 142.91 with the next target coming via the 1st May low at 142.88.
GBP is mildly firmer vs. the USD as UK participants return to market. UK newsflow remains light with markets looking ahead to Thursday’s BoE policy announcement. Cable has ventured as high as 1.3333 but is yet to test yesterday’s 1.3336 peak.
Diverging fortunes for the antipodeans with AUD towards the bottom-end of the G10 leaderboard. Overnight trade saw a larger-than-expected contraction in Australian building approvals and a disappointing Chinese services PMI. However, the cause for underperformance vs. NZD is otherwise unclear.
PBoC set USD/CNY mid-point at 7.2008 vs exp. 7.2518 (Prev. 7.2014).
Fixed Income
USTs are holding around the unchanged mark in a 110-27+ to 111-03 band. Came under modest pressure overnight on the return of China and generally supportive tone, despite weak Chinese PMI; though, once again, Japan was on holiday and as such conditions were thinner than normal with no cash trade. Into the European morning, USTs began to pick up alongside fixed income generally amidst commentary from the HKMA that they are diversifying into non-US assets. The update had more of an impact on US equity futures and the DXY than it did on Treasuries. Ahead, supply is the main scheduled event stateside in the form of a 10yr tap. Follows Monday’s 3yr sale which was much better than the prior.
Bunds were initially under pressure in-fitting with the bias from USTs overnight. Thereafter, the benchmark began to lift off lows and was largely unaffected by modest upward revisions to Final PMIs for April. More recently, Bunds jumped by almost 30 ticks to breach the 131.00 mark as Germany’s CDU/CSU leader Merz fell just six votes short of a Bundestag majority in the vote to appoint him as Chancellor. Upside in Bunds comes as Merz not securing a majority presents risks to his Chancellorship, the CDU/CSU-SPD coalition and possibly the implementation of recent fiscal reform. The upside has now almost entirely been pared, from 131.08 to current 130.88, potentially as traders await clarity on the timing of the next vote; as it stands, it looks unlikely to occur today, but could be as soon as Wednesday.
Gilts are the clear underperformer in catch-up play from Monday’s UK Bank Holiday. Gapped lower by 29 ticks at 92.88, the session high, before slipping to a 92.32 base in short order. Currently holding just off that low but in close proximity to it. PMIs for April were subject to modest upward revisions, but in-fitting with EGBs spurred no real reaction in the benchmark.
Firm gains across the crude complex, with prices rebounding from the earlier OPEC-induced downside, with most of Asia also returning to the market from the long weekend. The upside could be at least partially attributed to the geopolitical developments yesterday, in which Israel expanded its Gaza operation and suggested that it plans to occupy the territory, marking a major escalation from its initial plans of destroying Hamas and its capabilities. WTI resides in a USD 57.03-58.52/bbl range while Brent sits in a USD 60.18-61.64/bbl parameter.
Precious metals are higher across the board amid a softer Dollar, the return of APAC players, ongoing tariff woes, and escalating geopolitics. Spot gold has almost reversed the losses seen during the final week of April with the yellow metal current in a USD 3,322.75-3,387.02/oz parameter as it eyes USD 3,400/oz to the upside.
The base metals complex ekes mild gains with the aid of a softer Dollar and alongside the return of some demand as most APAC markets returned from their long weekend. 3M LME copper has waned off best levels but resides around the middle of a USD 9,366.50-9,487.53/t intraday band.
European Commission is to make a legal proposal to ban Russian gas and LNG imports by end-2027 and ban new Russian gas deals and existing spot contracts by end-2025; plans will be announced on Tuesday, legal proposals due in June, via an EU official.
EU Commission will present a legal proposal in June to ban all imports under Russian gas deals and existing spot contracts by end-2025, via Reuters citing a Commission document In June, will present trade measures aimed at making imports of Russian enriched Uranium economically less viable.
Geopolitics: Middle East
Palestinian media reported that the Israeli army blew up residential buildings east of Gaza City.
“Israeli army: Our forces are deployed in southern Syria and are in a state of readiness to prevent the entry of any hostile forces into the area or to Druze villages”, according to Sky News Arabia.
“Hamas: The Israeli occupation’s approval of plans to expand its operation in the Gaza Strip is an explicit decision to sacrifice Israeli prisoners”, according to Al Jazeera.
Israeli National Unity chairman Benny Gantz says “We must be ready and have the ability to attack Iran’s nuclear facilities”, via Sky News Arabia
Geopolitics: Ukraine
Ukraine attack damaged a power substation in Russia’s Kursk region, according to the regional governor.
Russian defence units destroyed five Ukrainian drones flying towards Moscow and Russia’s aviation watchdog announced flights were halted at Moscow’s major airports following reports of drones, but later announced that airports reopened.
US Event Calendar
8:30 am: Mar Trade Balance $140.5b, est. -137.15b, prior -122.66b
DB’s Jim Reid concludes the overnight wrap
As those of us in the UK were enjoying a wet, cold and windy bank holiday yesterday, just 4 days after record temperatures, the strong market recovery of the past two weeks ran out of steam, with the S&P 500 (-0.64%) declining for the first time in ten sessions, while 30yr Treasury yields (+4.5bps) rose for a fourth session running. These moves came amid a more cautious tone on the trade risks that Peter Sidorov had mentioned here yesterday, while still solid US economic data saw investors pare back expectations of near-term Fed cuts ahead of Wednesday’s FOMC meeting. A sense that the tariff relief trade was losing momentum came amid little concrete progress on trade talks as well as Trump’s post late on Sunday calling for 100% tariffs on movies produced outside the US. While there are no details yet on how the latter plan would be implemented, it marked the administration’s first foray into tariffs on services. Later on Monday, Trump also said that pharma tariffs would be announced over the next two weeks.
This backdrop saw the S&P 500 (-0.64%) end its longest winning run since 2004 that had seen the index rise by +10.25% over the previous nine sessions to end last week above its pre-Liberation Day levels. Underperformance by tech stocks saw the Mag-7 decline by -0.99%, while Netflix fell -1.94% after Trump’s movie tariff comments. After the close, the latest earnings releases saw Ford suspend its full-year financial guidance as it warned that auto tariffs will weigh on profits. And Palantir, which has been strongest advancer in the S&P 500 so far this year, saw its shares fell more than -9% in after-market trading as the software platform maker’s projected revenue growth fell shy of very lofty expectations. S&P 500 (-0.25%) and NASDAQ 100 (-0.45%) futures are edging lower as I type.
Yesterday’s reversal in equities came despite a decent ISM services release for April that pointed to a still resilient US economy and followed a solid payrolls print last Friday. The headline index unexpectedly rose from 50.8 to 51.6 (vs. 50.2 expected), with new orders rising to a 4-month high of 52.3. The ISM survey also pointed to elevated price pressures, with the prices paid index rising to 65.1, its highest level since January 2023.
The stronger data saw markets pare back their expectations of near-term Fed rate cuts. Notably, only 23bps of cuts are now priced by the July meeting, which is the first time since late February that the next cut is less than fully priced by July. The amount of cuts priced by year-end fell by -4.0bps to 76bps. Treasury yields moved higher, especially at the long end, with the 10yr up +3.5bps to 4.345% and the 30yr up +4.6bps to 4.835%. An +18.2bps rise in 10yr yields over the past three sessions may place some extra attention on today’s 10yr auction. There has been no trading overnight due to a Japanese holiday.
Those moves come ahead of tomorrow’s Fed decision, where our US economists expect the FOMC to keep rates steady and avoid explicit forward guidance about the policy path ahead. They continue to see the next rate cut coming in December and while risks are tilted towards earlier easing, in their view this would require a clear weakening of the labour market. See our economists’ full preview here. Central banks will also be in focus in Europe this week, with policy decisions from the UK, Norway and Sweden all due on Thursday. Our UK economist expects the BoE to deliver a 25bp cut (see preview here), while Norges and Riksbank are expected to keep rates on hold.
In Europe, while the UK was off for the May bank holiday, it was a more positive session, with the STOXX 600 (+0.16%) posting a tenth consecutive advance, the longest such run since 2021. The DAX (+1.12%) outperformed, moving to within half a percent of its all-time closing high on March 6. Italy’s FTSEMIB (+0.39%) and Spain’s IBEX (+0.55%) also gained but France’s CAC fell back (-0.55%).
European bonds saw muted moves, with the yields on 10yr bunds (-1.6bps), OATs (-1.3bps) and BTPs (-3.4bps) all seeing modest declines. The ECB’s Stournaras said “it seems we will continue” with rate cuts, but that amid the high uncertainty “you don’t take big steps or make big promises”.
In the commodity space, oil prices fell to their lowest level in four years following the OPEC+ agreement over the weekend to deliver another sizeable production increase in June which added to concerns of an oversupplied market. Brent crude fell by -1.73% to $60.23/bbl, its sixth consecutive daily decline of more than 1%, though it partially recovered after opening as low as $58.50/bbl in Asia yesterday. Meanwhile, gold rebounded by +2.89% on Monday to $3,334/oz, erasing last week’s -2.39% decline.
Asian equity markets are gaining this morning in thin trading with markets in Japan and South Korea remaining shut for public holidays. Chinese markets are ticking higher after resuming trading following the Labour-day holidays on signs of renewed momentum in trade negotiations between the world’s two largest economies. As I type, the CSI (+0.95%), Shanghai Composite (+0.94%), and the Hang Seng (+0.69%) are leading the way while the S&P/ASX 200 (+0.11%) is lagging a touch.
In FX, the Taiwanese dollar is retreating a touch this morning following an epic two-day rally that saw it at a near three-year high of 29.606 on Monday. The currency’s appreciation was influenced, in part, by speculation surrounding a possible US trade deal that could necessitate Taiwan strengthening its currency. However, both Taiwan’s central bank and the Cabinet’s Office of Trade Negotiations have denied that the US has requested currency appreciation or that the issue is even part of trade talks.
Coming back to China, services sector growth slowed significantly in April, reaching a seven-month low. The Caixin services PMI dropped to 50.7 from 51.9 in March, and 51.8 expected, reflecting weaker new orders and uncertainty stemming from US tariffs.
To the day ahead, data releases will include US March trade balance data, the final April services and composite PMIs in the Eurozone, as well as March Eurozone PPI and France industrial production. The ECB’s Panetta is due to speak, while earnings releases include AMD, Arista Networks, Ferrari, Constellation Energy and Rivian.
2b European opening report
2c Asian report
APAC gains capped by disappointing Chinese Caixin Services PMI – Europe Market Open
Tuesday, May 06, 2025 – 01:17 AM
APAC stocks were mostly higher but with gains capped following disappointing Chinese Caixin Services PMI.
European equity futures indicate a slightly lower open with Euro Stoxx 50 future down 0.1% after the cash market finished flat on Monday.
DXY failed to hold above the 100 mark, EUR/USD sits on a 1.13 handle, USD/JPY was unable to maintain its footing above 144.
Crude futures have clawed back nearly all the losses seen in reaction to the weekend’s OPEC+ output hike.
Looking ahead, highlights include EZ PMI (Final), US International Trade, Canadian Exports/Imports, NZ HLFS Unemployment Rate, EIA STEO, BoE’s Breeden, Supply from Germany & US.
Earnings from AMD, Supermicro, Rivian, Tempus AI, Celsius, Datadog, Constellation Energy, Fresenius Medical Care, Zalando, Continental, UniCredit, Intesa Sanpaolo & Ferrari.
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US TRADE
EQUITIES
US stocks finished lower in which the S&P 500 and DJIA snapped a 9-day win streak to end the session in the red with early headwinds after US President Trump announced tariffs on the non-US film industry which hit names like NFLX, DIS, and AMZN. However, stocks gradually rebounded in the wake of the ISM Services PMI report which beat all analysts’ expectations on the headline and it was also clarified that no final decision has been made on tariffs on foreign movies with Trump to meet with executives in the industry to discuss it.
SPX -0.63% at 5,651, NDX -0.67% at 19,968, DJI -0.24% at 41,219, RUT -0.82% at 2,004.
US President Trump said he will announce pharmaceutical tariffs over the next two weeks, while he signed an order to reduce regulatory barriers to domestic pharmaceutical manufacturing and will have an announcement next week related to the cost of medicines.
US President Trump said he will meet with some film industry officials and wants to make sure the industry is happy with the tariff idea, while he stated that China wants to make a deal “very badly” and he bets that Canadian PM Carney wants to make a deal during his visit on Tuesday.
US Commerce Secretary Lutnick said the first trade deal has got to be with a top 10 economy, while he commented the USMCA pact is okay for now and responded it is really complex when asked if a deal with Canada is possible, according to a Fox Business interview.
US Agricultural Secretary Rollins is to visit Japan, India and Vietnam and will discuss tariffs during Asia tour.
NOTABLE HEADLINES
US House Speaker Johnson said House Republicans remained on pace to pass the Trump agenda by Memorial Day or shortly thereafter and stated the Trump agenda is not facing a setback in the US House.
US Defense Secretary Hegseth ordered a reduction in 4-star positions in the military, according to a US official.
APAC TRADE
EQUITIES
APAC stocks were mostly higher as Chinese participants returned from the Labor Day holiday but with the gains capped following disappointing Chinese Caixin Services PMI data and as markets in Japan and South Korea remained closed.
ASX 200 traded little changed as strength in the commodity-related sectors were predominantly offset by underperformance in financials and defensives, while the larger-than-expected contraction in building approvals clouded over risk appetite.
Hang Seng and Shanghai Comp gained on return from the extended weekend and took their opportunity to react to the recent China tariff rhetoric from US President Trump who said that he is willing to lower tariffs on China at some point, while the miss on Caixin Services PMI data did little to derail the positive sentiment in China.
US equity futures (ES -0.2%, NQ -0.4%) mildly retreated after yesterday’s choppy performance in which Wall St snapped a 9-day win streak.
European equity futures indicate a slightly lower open with Euro Stoxx 50 future down 0.1% after the cash market finished flat on Monday.
FX
DXY initially strengthened and briefly returned to above the 100.00 level in a continuation of yesterday’s rebound which was facilitated by the better-than-expected ISM Services data. Nonetheless, the early upward momentum in the dollar during Asia-Pac trade petered out shortly after amid light fresh catalysts heading into the FOMC on Wednesday and despite further intervention by the HKMA to weaken the HKD against the greenback after it touched the strong end of the trading range.
EUR/USD price action is choppy in which the single currency traded both sides of the 1.1300 level as a counterparty to the recent dollar swings, while there were comments from ECB’s Stournaras who said he does not see inflation if the EU tariff reaction is selective and that it seems the ECB will continue with rate cuts.
GBP/USD was contained near the 1.3300 level after Monday’s bank holiday closure for the world’s largest FX trading hub and with participants awaiting a widely expected BoE rate cut later in the week.
USD/JPY traded indecisively and failed to sustain a brief return to the 144.00 level with recent price action largely driven by the dollar amid the continued absence of Japanese participants
Antipodeans lacked direction and were largely unfazed by disappointing Australian and Chinese data releases.
PBoC set USD/CNY mid-point at 7.2008 vs exp. 7.2518 (Prev. 7.2014).
FIXED INCOME
10yr UST futures lacked demand after retreating yesterday on the firmer-than-expected ISM Services data in the US, while prices were also not helped by recent and upcoming supply, as well as the continued absence of overnight cash treasuries trade due to the long weekend in Japan.
Bund futures remained subdued after the prior day’s whipsawing and with little fresh catalysts heading into a EUR 4.5bln Bobl issuance.
COMMODITIES
Crude futures have clawed back nearly all of the losses seen in reaction to the weekend’s OPEC+ output hike with the rebound facilitated as Chinese participants returned to the market, while domestic trips made during the Labor Day holidays in China rose by 6.4% Y/Y to 314mln.
Spot gold rallied alongside silver prices with the upside momentum spurred as Shanghai commodities trade got underway.
Copper futures edged higher as its largest buyer returned from a five-day weekend but with gains capped by the somewhat lacklustre mood for the rest of the region.
Peru’s President said mining activity is to be suspended for 30 days in an area affected by violence and announced a curfew in the Pataz district, where miners were kidnapped and killed.
CRYPTO
Bitcoin marginally declined after stalling in an early approach towards the USD 95,000 level.
NOTABLE ASIA-PAC HEADLINES
China said 314mln domestic trips were made during the May holiday which was up 6.4% Y/Y and travel expenditure of domestic tourists rose 8% Y/Y to 180.3bln, according to CCTV.
US House intensified its legislative push against Beijing on Monday in which it advanced a slate of China-related bills targeting industrial espionage, export controls, national security threats and alleged human rights abuses.
Fast fashion platforms Shein and Temu boosted digital advertising in Europe with the most growth seen in France and the UK, while they see increased app downloads in France and the UK as US tariffs hit and Shein also boosted advertising in Brazil where it manufactures goods for Latin America.
HKMA intervened in which it bought USD 7.8bln against the HKD at 7.7500 after the HKD hit the strong end of the trading range.
DATA RECAP
Chinese Caixin Services PMI (Apr) 50.7 vs. Exp. 51.7 (Prev. 51.9)
Chinese Caixin Composite PMI (Apr) 51.1 (Prev. 51.8)
Australian Building Approvals (Mar) -8.8% vs. Exp. -0.6% (Prev. -0.3%, Rev. -0.2%)
GEOPOLITICS
MIDDLE EAST
Israeli air force conducted strikes on Yemen in retaliation for the Houthi ballistic missile attack on Ben Gurion airport.
Palestinian media reported that the Israeli army blew up residential buildings east of Gaza City.
RUSSIA-UKRAINE
Ukraine attack damaged a power substation in Russia’s Kursk region, according to the regional governor.
Russian defence units destroyed five Ukrainian drones flying towards Moscow and Russia’s aviation watchdog announced flights were halted at Moscow’s major airports following reports of drones, but later announced that airports reopened.
UK PM Starmer spoke to French President Macron on Monday evening and discussed the need for Russia to commit to a 30-day ceasefire to ensure meaningful peace talks, while the leaders looked ahead to the UK-France summit taking place later this year.
EU/UK
NOTABLE HEADLINES
EU is set to make it easier for UK professionals to work in the bloc, according to FT.
ECB’s Stournaras said he does not see inflation if the EU tariff reaction is selective and it seems the ECB will continue with rate cuts.
3 .ASIA
3A NORTH KOREA/SOUTH KOREA
3B JAPAN
3C CHINA
(COURTESY RADIO FREE ASIA)
Trade war with US triggers wave of factory ‘holidays’ in China’s export hubs
Chinese manufacturers pivot to social commerce platforms to sell unsold goods at bargain prices.
By Qian Lang for RFA Mandarin
2025.04.18
Videos posted to social media show idle factories and unsold goods by Chinese manufacturers. (Douyin)
As the U.S.-China trade war heats up, businesses in major export hubs in southeastern China are announcing factory “holidays” – halting production and slashing employee wages and work hours – while turning to social commerce platforms to sell stockpiled goods, as they grapple with a sharp drop in overseas orders.
It’s a phenomenon sweeping across China’s export-driven provinces like Zhejiang, Guangdong, and Jiangsu, where manufacturers – weighed down by a large backlog of unsold merchandise – are issuing a flurry of “holiday notices” to announce they are suspending operations at factories.Video: Trade war with US triggers wave of factory “holidays” in China’s export hubs (Edited by Yijo Shen/RFA)
To clear large piles of inventory, companies are now resorting to selling the leftover export goods through social commerce platforms, such as TikTok and Taobao, at heavily marked-down rates.
Merchandise ranging from yoga pants and footwear to home appliances and blankets — originally intended to be exported to the U.S. — are now being sold online by Chinese export companies or their employees at bargain prices, multiple videos reviewed by RFA on Douyin, the Chinese version of TikTok, show.
The world’s two largest economies have been engaged in an escalating tariff war that threatens to roil global trade and upend supply chains, while sparking growing concerns over a full U.S.-China decoupling.
On Thursday, Trump struck a more conciliatory tone, expressing confidence that Washington and Beijing could reach a deal on tariffs “over the next three to four weeks.”
President Donald Trump to reporters in the Oval Office, April 17, 2025. At rear is Commerce Secretary Howard Lutnick. (Alex Brandon/AP)
This follows the U.S. administration’s move to exempt certain products, including smartphones and laptops, from the recently announced duties.
But in China’s top tech-oriented export strongholds like Dongguan city in Guangdong province, Suzhou in Jiangsu, and Jiaxing in Zhejiang, the immediate fallout of the trade dispute is apparent in factory floors filled with towering stockpiles of unshipped goods.
Stockpiles of unsold goods
In a sprawling 20,000-square-meter warehouse in Jiaxing – a prefecture-level city where exports made up 75% of the total trade volume of 481.84 billion yuan (US$66.51 billion) in 2024 – heaps of merchandise originally meant to be exported now lie abandoned, according to a video posted by an unnamed Douyin user.
He noted that products once valued at over US$100 in the U.S. market now struggle to sell even at deeply discounted rates of a few dollars.
“The tariff war has caused a lot of foreign-trade leftover goods,” he said.
“Any piece of clothing here can sell for US$100 dollars (in the U.S.), but now it is being sold by tons, and the average price of one piece is only a few cents, and still no one is buying it … It’s impossible to survive.”
U.S. footwear brand Crocs’ signature rubber clogs – which typically retails for $30-$70 a pair in the U.S. – are now being offloaded for mere pennies in China, the vlogger said.
Crocs has production facilities in China. In February, it projected Chinese imports will account for about 15% of its inventory and that its fiscal 2025 profits could decline by about $11 million due to tariff headwinds.
But even products that have historically been targeted solely for the domestic market have not been spared, as U.S. tariffs threaten China’s slow and still-fragile consumer sentiment recovery, buoyed by a slew of stimulus measures to drive consumption.
Take the case of the iconic 400-year-old traditional Chinese knife brand Zhang Xiaoquan. Exports account for less than one percent of the Hangzhou, Zhejiang-based company’s annual sales, but its knives are being sold by the tons at the price of just a few cents per knife, the vlogger said in a video post on Douyin.
Pivot to social commerce
Further north in Jiangsu’s Suzhou city – where foreign trade volume hit a record 2.62 trillion yuan (US$358.9 billion) in 2024 – one factory is pushing its employees to sell its overstocked blankets online, another video posted on Douyin by an employee showed.
According to the employee of Suzhou Lively Home Textiles Factory who posted the video, a factory manager managed to sell more than 60 blankets by tapping his own relatives, friends, and acquaintances to whom he made half those sales.
At the same factory, which mainly produces blankets, employees were also informed that their working hours will be reduced and that only their basic wages would be paid, due to the challenges in exporting to the U.S.
“We are now facing a trade war, which has affected our orders … If you have a good job outside, you can leave,” the factory manager can be seen telling nearly 100 female employees, in the same video posted on Douyin.
As more people take to selling online, e-commerce companies say they are finding it hard to compete with heavily discounted prices of leftover export goods being sold via social commerce platforms.
“With the new tariffs in the trade war, it is impossible to make a profit. In general, business in all sectors is not good this year,” Zhang, an e-commerce entrepreneur in Yangzhou, Jiangsu, told RFA.
Like the other businessmen and experts RFA interviewed, Zhang provided only his first name for safety reasons.
Reliance on exports
China’s so-called “troika” of consumption, investment, and trade that drives the country’s economic growth actually only has one left: foreign trade, Chen, a Guangdong-based scholar, told RFA.
“China has little domestic demand because the average income of Chinese people accounts for too low a proportion of GDP, so their consumption capacity is not good. China cannot afford to lose the U.S. market,” he added.
To be sure, the intensifying tariff war has put to the test Chinese President Xi Jinping’s “dual circulation” strategy – which designated China’s domestic market as the mainstay of its economy and emphasized a reduction in traditional reliance on export-led growth.
Experts argue that China remains highly reliant on the U.S., its top export market, to which it exported goods worth $438.9 billion in 2024.
“I have worked in the manufacturing industry for more than 10 years and I understand clearly the ratio of China’s population to manufacturing. This economic situation (now) can be said to be unprecedented (and not seen) in decades,” said Chen Xiang, who previously worked as a manager in export factories in Zhejiang, Jiangsu and Guangdong – where many have now issued “holiday notices.”
One clothing export company in Jiangsu province issued a holiday notice announcing a suspension in production from mid-April until end-June.
Meanwhile, an electrical appliances manufacturer in Guangdong’s Dongguan city announced a one-month shutdown citing a lack of orders.
RFA also found that dozens of companies in Zhejiang – where exports accounted for 70% of the province’s gross domestic product in 2024 – had posted holiday notices.
In Zhejiang, more than 50% of its export companies are expected to stop production and take a “long holiday,” after the Labor Day public holiday on May 1.
“It’s like this in Jiangsu, Zhejiang, with even more factories in Guangdong now closed. People in some places can hardly survive. With tariffs increased to this extent, China-U.S. trade is almost decoupled,” Chen told RFA.
In 2024, China’s total manufacturing output reached 40.5 trillion yuan (US$5.65 trillion). Foreign trade volume – exports and imports – was 43.85 trillion yuan (US$6.1 trillion), of which exports accounted for 25.45 trillion yuan (US$3.49 trillion).
END
Beijing Stops Publishing “Hundreds Of Statistics” To Cover Up Economic Collapse
Monday, May 05, 2025 – 11:00 PM
Two weeks ago, when we first reported that as a result of the ongoing Trump trade war with China, “chinese factories are shutting down, laying off workers“, we said that as a result of this war of attrition in which the outcome of every incremental clash and battle will be used just as aggressively for media propaganda, “the fact that any marginal pain will be amplified as trade war weakness will mean that Beijing will do everything in its power to prevent the full extent of the shutdowns from being revealed.”
Sure enough, fast forward to today when the WSJ reports that whereas “not long ago, anyone could comb through a wide range of official data from China… then it started to disappear.“
Regular China-watchers know very well that when it comes to local “data” reporting, China’s fabrication and goalseeking skills are second to none, and even the US Bureau of Labor Statistics is a rank amateur compared to Beijing’s National Bureau of Statistics, which tramples over actual econometric reporting with the glee of a bull in a, well, China shop. It’s why nobody actually believes any of the propaganda released by Beijing, and instead independent, private (and very expensive) third-party services for data collection and analysis are used to measure accurately the current state of China’s economy.
So imagine how bad it must be when instead of simply making stuff up, China decides that the easier approach is simply to no longer report the fake data. The best example is surely the data on Chinese youth unemployment which hit a record 22% in the summer of 2023… at which China decided to simply stop reporting it altogether.
In the US, bad data is just "seasonally" massaged and birth/deathed until it is +300,000.
Curiously, China halted reports on its youth unemployment just weeks after we quoted Goldman China strategist Maggie Wei (full note available to professional subs), who said that “Chinese youth unemployment rates tend to be higher than overall unemployment rates as this group appear particularly vulnerable to economic downcycles, likely due to a lack of experience.” In other words, when it comes to early indicators of economic collapse, this is it…. And more importantly, such an indicator would also telegraph to China’s millions of unemployed young men and women that there are millions more like them, and that all they have to do to fix their plight, is to demand change in Beijing and stage a youth insurrection. Which, of course, is the single biggest nightmare for China’s communist party.
But it’s not just youth unemployment: according to the WSJ, land sales measures, foreign investment data and countless other unemployment indicators have gone dark in recent years, while data on cremations and a business confidence index have been cut off. Even official soy sauce production reports are gone.
In all, “Chinese officials have stopped publishing hundreds of data points once used by researchers and investors”, according to a Wall Street Journal analysis.
In most cases, Chinese authorities haven’t given any reason for ending or withholding data. But the missing numbers have come as the world’s second biggest economy has “stumbled under the weight of excessive debt, a crumbling real-estate market and other troubles, spurring heavy-handed efforts by authorities to control the narrative.”
Or, precisely what we said when we warned in April that “Beijing will do everything in its power to prevent the full extent of the shutdowns from being revealed.”
China’s National Bureau of Statistics stopped publishing some numbers related to unemployment in urban areas in recent years. After an anonymous user on the bureau’s website asked why one of those data points had disappeared, the bureau said only that the ministry that provided it stopped sharing the data.
The “mysteriously” disappearing data, which is there one day, and gone as soon as it gets ugly, has made it impossible for people to know what’s going on in China at a pivotal time, with the trade war between Washington and Beijing expected to hit China hard and weaken global growth. Plunging trade with the US has already led to production shutdowns and job cuts, but of course, without actual data to confirm or deny the true state of the economy, Beijing can rely on propaganda and state media, both of which it rules with an iron fist and an impenetrable reality distortion firewall.
Of course, getting a true read on China’s growth has always been tricky. Many economists have long questioned the reliability of China’s headline gross domestic product data, and concerns have intensified recently. Official figures put GDP growth at 5% last year and 5.2% in 2023, but some have estimated that Beijing overstated its numbers by as much as 2 to 3 percentage points; in some cases speculation is rife that China’s economy is actually contracting, and how can it not be when the largest asset of China’s middle class. real estate, has been in a persistent shock for the past five years with Beijing unable to kickstart growth as it already has too much debt.
To get what they consider to be more realistic assessments of China’s growth, economists have turned to alternative sources such as movie box office revenues, satellite data on the intensity of nighttime lights, the operating rates of cement factories and electricity generation by major power companies. Some parse location data from mapping services run by private companies such as Chinese tech giant Baidu to gauge business activity.
One economist said he has been assessing the health of China’s services sector by counting news stories about owners of gyms and beauty salons who abruptly close up and skip town with users’ membership fees.
None of this is news to regular Zerohedge readers: Back in 2007, the late former Chinese premier Li Keqiang famously told the U.S. ambassador in 2007 that GDP data for a Chinese province he governed at the time were “man-made” and therefore unreliable, according to a leaked U.S. diplomatic cable. Instead, he said he kept track of electricity consumption, rail-freight volumes and new bank loans.
Official GDP figures were “for reference only,” he confided to the ambassador, according to the cable. Li died in October 2023.
Meanwhile, Chinese “data”, at least the type that is still reported, magically goalseeks to the centrally-planned mandates of the Communist Party, never veering as much as 0.1% from where it “should” be: China’s official GDP growth of 5% in 2024 exactly – and hillariously – matched the target the government had set the previous year.
Economists privately dismissed the figure, with one telling the WSJ it would have been more credible if authorities had released something lower. Retail sales, construction activity and other data painted a considerably weaker picture, they noted. Bank of Finland and Capital Economics have generally found bigger swings in GDP than what China reports—and its estimates are lower than official figures in recent quarters. But of course, admitting even more weakness would promptly push the tide of trade war against China, and that is something Beijing – which is locked in an existential for Xi Jinping clash with Trump – simply can not afford to do.
Shocking nobody, in December a prominent Chinese economist at state-owned SDIC Securities, Gao Shanwen, said at a conference in Washington that China’s economic growth “might be around 2%” the past few years, adding, “we do not know the true number of China’s real growth figure.”
China’s leader Xi Jinping ordered that Gao be disciplined and he has been banned from speaking publicly for an unspecified period. The Securities Association of China warned brokerages in late December to ensure their economists “play a positive role” in boosting investor confidence.
For its part, China’s statistics bureau has defended its data practices, saying that data quality has improved over the years and that it has taken steps to ensure accuracy and investigate any misconduct during collection. Nobody outside of China believes that, but many – in their blind Trump derangement fury – will blindly parrot it, facilitating the spread of Chinese propaganda offshore.
In February, Goldman Sachs came up with an alternative way of measuring China’s economic growth by crunching figures such as import data, which can be read as proxies for domestic spending. The thinking was that trade data get published frequently and is hard to fudge, since China’s trading partners also report those numbers.
That approach implied that China’s growth in 2024 averaged 3.7%. Using a different method, Rhodium Group, a New York-based research outfit, said growth was closer to 2.4% in 2024, or less than half the reported growth!
But reality does not matter when – as we said two weeks ago – presenting an image of stability, no matter how fake and manipulated, is paramount for China’s Communist Party, especially now, with many middle-class Chinese worried about the future and the country entering uncharted territory in its competition with the U.S.
Often, the data that goes missing involves areas of high sensitivity or headaches for Beijing, such as the property market, whose collapse in recent years wiped out billions of dollars of household wealth and triggered protests by frustrated home buyers. To this point, one data series that hasn’t been banned yet, but soon will be, is China’s consumer confidence. It has never been lower.
As reported here previously, during the boom years, China’s developers furiously bought up land from local governments at sky-high prices. The transactions poured money into local governments’ coffers and signaled future development plans, a key driver of the economy. At one point China’s real estate market was the single largest asset on planet earth, as this Goldman chart from 2021 showed.
And then the crash came: the downturn began in 2021, after Beijing tightened credit on the sector, resulting in a domino effect which culminated with the bankruptcy of such property giants as Evergrande and Country Garden, and the collapse of Vanke. With home sales falling and real-estate developers going bankrupt, a Chinese think tank called Beike Research Institute released a report in 2022 that found the average housing vacancy rate among 28 Chinese cities was far higher than the average in the U.S. and other places, a sign of oversupply.
The report drew attention because China doesn’t release an official vacancy rate, and property analysts were trying to figure out how badly developers had overbuilt. A few days later, Beike retracted the report and apologized, saying that some of the data had errors. Analysts said they believed the group pulled the data under government pressure.
That’s when the official data started disappearing too.
Figures show the value of land sales plummeted 48% in 2022, a big problem for heavily indebted local governments, which suddenly lacked funds to pay salaries or carry on with infrastructure projects. That data disappeared at the start of 2023.
Then, by mid-2023, much of the talk locally revolved around the dismal job market for young people. Many of the students finishing college didn’t have job offers, and viral social-media posts showed them dressed in caps and gowns splayed out motionless on the ground, interpreted by many as a form of silent protest.
Around that time, the official youth unemployment rate hit a record 21.3%. Zhang Dandan, a Peking University economist, made headlines saying she thought China’s true youth unemployment rate might be as high as 46.5%.
Then, as noted above, in August 2023, Beijing announced they would simply stop releasing the youth unemployment rate, saying they “needed to revisit” how they calculated the figures.
Hilariously, five months later Beijing began releasing a new data series. The real youth jobless rate, it said, was 14.9%, or about half of what the previous series had reported.
Officials said the new data series excluded nearly 62 million people who were studying full-time in universities, and so shouldn’t be counted as jobless. That, of course, make zero sense to economists. Statistics typically count anyone actively looking for a job as unemployed, including full-time students.
Alas, since the cover up is usually worse than the crime, by this point China had little to lose and things only got worse.
In April 2024, China’s stock market was teetering as economic worries deepened. Foreign investors dumped more than $2 billion of Chinese stocks over a two-week span, spooking domestic individual investors.
China’s two major exchanges in Shanghai and Shenzhen abruptly announced that they would stop publishing real-time data on inflows and outflows of foreign investors. The Shanghai Stock Exchange said in a statement that it was aligning its practices with other international markets, which don’t disclose real-time trading data of specific groups of investors.
After authorities stopped publishing the real-time data in mid-May, the CSI 300 benchmark index continued its decline for four consecutive months, until authorities announced a blitz of measures to support the country’s weakening economy in September. Amusingly, while Beijing has repeatedly vowed and jawboned it would stimulate the economy and markets, it has yet to actually do so, for one simple reason: China has no fiscal space, with total Chinese debt at historic levels as Beijing already used up its debt quote in the past 20 years to boost the economy while borrowing from the future.
In response to Trump tariff hikes, China vows to unleash much more stimulus, as it has every week for the past 3 years.
Luckily, at 330% debt/GDP China has lots of fiscal space for stimulus
Some data are still publicly available but harder to get. Beijing passed a law in 2021 that caused data providers to make certain information, such as corporate registry data and satellite images, accessible only in mainland China.
Meanwhile, formerly trusted Chinese data provider Wind Information started to limit international users’ access to certain data sets, such as online retail shopping figures and land-auction records, in early 2023. That led one economist at a foreign bank in Hong Kong to start making regular weekend trips to the neighboring mainland city of Shenzhen to download data, the economist told the WSJ.
Also gone in recent years: official figures on Chinese toll road operators’ year-end debt balances and the number of new stock-market investors.
And who can forget the absurd lengths Beijing went to during covid to cover up the economic devastation in the aftermath of the Wuhan virus spread. China stopped publishing national cremation data after it ended its controversial zero-Covid policy to contain the virus in late 2022, a move analysts estimated could lead to between 1.3 million and 2.1 million deaths. The government also censored discussions about the impact of the virus on social media.
Last but not least, the country’s sharp drop in fertility has also become a major economic liability… and the data pointing to it is gone, too. In the mid-2000s, an economist named Yi Fuxian questioned the accuracy of China’s population data and argued that tuberculosis vaccinations were a better measure of population growth because every newborn in China is required to be vaccinated. In 2020, only 5.4 million such vaccines were administered, according to data compiled by the private Chinese think tank Forward Business and Intelligence. Chinese authorities said the country recorded 12.1 million births that year.
Sure enough, a year later, the National Institutes for Food and Drug Control discontinued the weekly data release of tuberculosis vaccines administered, along with other vaccine data.
One can only imagine the true extend of demographic devastation in China… well, literally. Because there is zero data to actually analyze it.
Some information that has disappeared defies explanation. Data providing estimates of the size of elementary school toilets stopped being released in 2022, then resumed publication in February. Official soy sauce production data stopped appearing in May 2021, and hasn’t returned.
END
CHINA/BANGLADESH/INDIA
Bangladesh Is Back At It Again With Another “Plausibly Deniable” Territorial Claim To India
Bangladesh’s increasing alignment with China and Pakistan could imperil India’s Great Power plans…
Bangladeshi Major General (retired) A.L.M. Fazlur Rahman, who serves as chair of the National Independent Commission of Inquiry investigating the 2009 Bangladesh Rifles massacre, posted on Facebook that Bangladesh should occupy India’s Northeastern States if India goes to war with Pakistan. He later explained that preparing for this scenario might deter India, which could in turn prevent Pakistan’s possible defeat, thus averting the existential threat that India would then pose to Bangladesh.
The incumbent government, which came to power after last summer’s US-backed regime change, distanced itself from his post but the damage to bilateral trust was done. Rahman’s words followed interim Bangladeshi leader Muhammad Yunus’ scandalous comments about India’s Northeastern States during a trip to China earlier this year. They were analyzed here at the time as a veiled threat to once again host Indian-designated terrorist-separatist groups if India doesn’t make concessions to Bangladesh.
This year’s two territorial controversies thus far were preceded by Yunus’ special assistant Mahfuj Alam sharing a provocative map on X in late December that made claims to surrounding Indian states, with these sequential developments altogether ringing alarm bells in Delhi about Dhaka’s intentions. Although each were “plausibly deniable” in that no official territorial claims were made, the trend is unmistakable, and it’s that the new Bangladeshi authorities are weaponizing fears of this scenario.
From their ultra-nationalist perspective, this is a pragmatic means to rebalance what they consider to be Bangladesh’s lopsided relations with much larger India, but it risks backfiring by heightening Delhi’s threat perceptions with all that entails. In the current context of India signaling that it might launch at least one surgical strike against Pakistan in retaliation for last month’s Pahalgamterroristattack, Indian military planners can’t confidently rule out that Pakistan might coordinate its response with Bangladesh.
To make matters worse, Rahman also wrote in his two posts that Bangladesh “needs to start discussing a joint military system with China”, which lays claim to India’s Northeastern State of Arunachal Pradesh. Seeing as how there’s always the possibility that another Indo-Pak war could lead to China intervening on Pakistan’s side, which Indian military planners call the two-front war scenario, this latest twist could lead to a three-front war as the incumbent Bangladeshi government aligns closer with both against India.
India already felt that it was becoming encircled by China over the past decade, but this might soon evolve into a siege mentality if ties with Bangladesh continue to worsen due to its officials’ rhetoric. The new regional security system that’s taking shape as Bangladesh de facto incorporates itself into the Sino-Pak nexus could decisively shift the balance of power against India. In response, India might intensify the militarydimension of its strategic partnership with the US, albeit more on the US’ terms than before.
India cherishes its strategic autonomy, which is why it’s thus far declined to participate in the US’ multilateral containment of China, but that could change if the US informally makes more military-strategic support of India depend on this.
Amidst its increasing encirclement that might soon evolve into a siege mentality as explained, India might feel that it has no choice but to concede to this so as to avoid being coerced into concessions by China, either scenario of which could imperil its Great Power plans.
end
CHINA/BANKS
SPECIAL THANKS TO ROBERT H FOR SENDING THIS TO US;
China’s 6 Biggest Banks Report $1 Billion Profit Drop
The loss of profit in the banking sector indicates an all-round economic slowdown, even a stall, an analyst said.
5/4/2025
The Industrial and Commercial Bank of China (ICBC) logo is seen on a building at the financial district in Shanghai on April 9, 2025. Hector Retamal/AFP
China’s six largest banks have posted first-quarter reports with a significant drop in both earnings and profits.
Experts said the profit drop in China’s banking industry indicates a stalling economy that is likely to continue to worsen as the effects of the tariff war between China and the United States kick in.
The six Chinese major banks, which are all state-owned—Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Postal Savings Bank—released their first-quarter data on April 29. Taken together, their net profit attributable to parent companies fell by 7.3 billion yuan ($1 billion) compared with the same period in 2024—a decrease of about 2 percent.
Among them, Industrial and Commercial Bank of China (ICBC), the world’s largest lender by assets, saw a 4 percent net profit drop year-over-year. The Bank of China posted a 2.9 percent decrease from the year before.
The six banks reported a total revenue of 910.2 billion yuan ($125 billion) in the first quarter, a year-over-year decrease of 13.9 billion yuan ($1.9 billion).
ICBC is the only major Chinese bank with a single-quarter revenue of more than 200 billion yuan ($27.5 billion), although this still represented a 3.2 percent decrease from the same period in 2024.
China Construction Bank reported revenue of 190.07 billion yuan ($26.1 billion), falling by 5.4 percent year-over-year.
“In the first quarter of 2025, the global economy lacked strong growth momentum,” China Construction Bank said in its report.
Since January, China and the United States have been engaged in a tariff war that has hit China’s exports hard, worsening the Chinese economy, which had already been in a lasting slowdown.
Chinese media cited multiple agencies’ analyses, attributing the banking sector’s profit drop to a number of reasons: concentrated loan repricing that exacerbated interest rate spread pressure, a slowdown in the pace of asset expansion, an increase in the income tax rate, weakened support from provisioning, and increased volatility in non-interest income.
Henry Wu, a Taiwanese macroeconomist, told The Epoch Times on May 2 that mainland Chinese companies have stopped receiving export orders as a direct result of the tariff war, “and China’s economy and macro-economy have fallen into recession.”
“In this case, the banks’ business [is] certainly affected,“ Wu said. ”Originally, the purpose of bank lending was to earn interest rate differentials, but now, the demand for funds may shrink sharply. Many companies dare not invest anymore and may have to close or even go bankrupt. Therefore, the banks’ business has shrunk due to the tariff war. And this has had an impact on the macroeconomy.”
Taiwanese economist Edward Huang said that the tariff war will have a greater impact on Chinese banks’ profits in the second quarter.
“[The drop in the first quarter is] because China’s real estate has continued to decline, the entire economy is in a downturn, which has a greater impact on China’s banks’ profits. It is because of domestic factors,” he said.
After the Chinese banks posted shrinking profits, their shares slumped.
Pedestrians walk past a sign showing the numbers of the Hang Seng Index in Hong Kong on Oct. 8, 2024. Peter Parks/AFP via Getty Images
Huang said that bank profits and stocks indicate whether a country’s economy is good or bad, because banks transfer funds to all sectors in a country.
“If the profits of the systems that transfer funds decline, then it means that economic activity is slowing down, and it is an all-around slowdown,” he said.
Meanwhile, China’s purchasing managers’ index (PMI) for its manufacturing sector fell to 49 in April, hitting a 16-month low, as the Trump administration’s hefty new tariffs on Chinese goods took effect.
PMI is an indicator of the prevailing direction of economic trends in the manufacturing and service sectors. A reading lower than 50 indicates economic contraction.
Huang anticipates that China’s exports will further decline in the second quarter and that the Chinese economy will continue stalling.
“As for how serious the stalling is after the tariff war, we can probably see a clue by observing the profits of Chinese banks in the second quarter,” he said.
Huang also predicts that China’s ruling Chinese Communist Party may take actions such as lowering interest rates and reserve requirement ratios to cope with the economic slowdown.
“For ordinary people, they will see a reduction in their bank interest, and for banks, the profit spread will be reduced,” Huang said.
Given the economic situation, Wu said that “banks may not dare to lend money for fear of default, and the banks’ credit will begin to shrink, which will cause the macro-economy to further cool and deteriorate.”
When the banks don’t lend money, “many companies are unable to repay their previous loans, and then they default on their loans,” he said.
Luo Ya and Reuters contributed to this report.
4..EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
GERMANY
“What The Hell Is Going On In Germany?” – Hungarian PM Orbán Trashes Germany’s Tyrannical Move Against AfD Party
The German government appears to be seriously preparing for a ban of the Alternative for Germany (AfD) party after the country’s powerful domestic spy agency classified the party as “definitely right-wing extremist.” Now, world leaders are reacting to the classification, with Hungarian Prime Minister saying he backs the party and its co-leader Alice Weidel.
After the Office for the Protection of the Constitution (BfV) gave the AfD its new designation, which paves the way for a ban of the entire party, Orbán asked on X “What the hell is going on in Germany?”
He then tagged Alice Weidel and stated: “You can count on us.”
Orbán and Fidesz kept their distance from the AfD for years, mainly under pressure from the German government. However, shortly before Germany’s national elections, Orbán hosted Weidel in the country in February, calling the AfD the “future of Europe.” Weidel described Orbán as a “role model.”
Orbán is far from the only one backing the AfD. The BfV’s new classification of the AfD gives the spy agency unbelievable powers to several AfD members, including access to their emails, phone calls, and chats. Considering it is the largest opposition party in the country, which now polls as the most popular party in the country, the threat to democracy and privacy is enormous.
🇩🇪❌Will Germany's AfD party be banned?@Dieter_Stein, the editor-in-chief of @Junge_Freiheit, discusses how the German establishment's strategy is designed to create a toxic atmosphere around the anti-immigration AfD party, with Stein describing it as a "war of attrition." pic.twitter.com/KV54nHKl57
The United States is now coming out against Germany’s tyrannical measures. The head of the U.S. State Department, Marco Rubio, wrote on X, “Germany just gave its spy agency new powers to surveil the opposition. That’s not democracy—it’s tyranny in disguise. What is truly extremist is not the popular AfD—which took second in the recent election—but rather the establishment’s deadly open border immigration policies.”
The German Foreign Office even responded, writing: “This is democracy. This decision is the result of a thorough & independent investigation to protect our Constitution & the rule of law. It is independent courts that will have the final say. We have learnt from our history that rightwing extremism needs to be stopped.”
Tesla and X CEO Elon Musk wrote on X that a ban of the AfD would be “an extreme attack on democracy.”
U.S. Vice President JD Vance wrote: “The AfD is the most popular party in Germany (…). Now the bureaucrats are trying to destroy it.” Referencing German history, he added: “The West tore down the Berlin Wall together. And it was rebuilt—not by the Soviets or the Russians, but by the German establishment.”
There are growing calls now, even in the CDU, to an outright ban on the party. However, Friedrich Merz has not yet commented on a ban, while his future interior minister, Alexander Dobrindt, has urged caution against one.
The AfD has already launched legal action against the BfV designation. A ban would disenfranchise millions of voters and descend Germany into the realm of an authoritarian system known for banning opposition parties. There are also doubts about whether a ban would even be successful, with the country’s top court, the Constitutional Court, potentially ruling against it; regardless of the outcome, it would take years of legal battles to finally conclude.
“Historic Shock”: Germany’s Merz Falls Short In Chancellor Vote Sparking Fresh Political Turmoi
Tuesday, May 06, 2025 – 08:25 AM
Germany’s blue-chip DAX 40 index fell nearly 2% after a new political crisis erupted in Berlin, triggered by “conservative” leader (so conservative he reneged on his election promises to halt runaway speding and crammed through a fiscal timebomb in the last days of the previous government) Friedrich Merz’s failed bid to become the country’s 10th postwar chancellor.
Merz needed 316 votes out of 630 to secure the chancellorship but received only 310, falling short of a majority despite his coalition holding 328 seats. Because the vote was conducted by secret ballot, the identity of those within his own party who defected remains unknown. The outcome prevented his swearing in on Tuesday and pitching Europe’s biggest economy into uncharted territory.
While the conservative leader is still expected to take charge of a ruling coalition of his CDU/CSU bloc and the Social Democrats, it was the first time since World War II that an incoming chancellor failed to secure the backing of lawmakers in the first round of voting in the Bundestag and “triggered chaos in Berlin’s government quarter”,Bloomberg reported.
After the result was announced, a visibly shaken Merz left the chamber for emergency talks with his parliamentary group, the usual seamless choreography that accompanies a change of government leader in Germany in tatters.
He was due to be formally appointed by President Frank-Walter Steinmeier later on Tuesday and then sworn in by Bundestag lawmakers before a handover with outgoing Chancellor Olaf Scholz and a first meeting of his new cabinet.
Manfred Güllner, head of the Forsa polling group, told The Wall Street Journal this outcome is “dramatic,” adding, “Even if Merz makes it in a second round, he is now damaged.”
The immediate response in local markets was a 1.8% drop in DAX 40. German bonds trimmed declines, with the 10-year notes trading as low as 2.52% versus 2.55% before the vote.
A headline that just crossed Bloomberg moments ago indicated that the German Parliament will reconvene at 3 p.m. local time.
GERMAN PARLIAMENT TO RECONVENE AT 1500 LOCAL TIME, 1300 GMT, ON TUESDAY AFTER FAILURE OF FIRST VOTE ON CHANCELLOR – N-TV
German reporter Julius Betschka wrote on X, “The next round of voting is scheduled for 3:15 p.m., according to @sternde info from both factions. Faction meetings beforehand.”
On the other hand, if Merz fails to get elected for the second time, will that make Germany’s political crisis doubly as big?
The lower house of Parliament — called the Bundestag — has 14 days to elect a candidate with an absolute majority. Merz can run again, but other lawmakers can also throw their hat in the ring. There is no limit to the number of votes that can be held within the two-week period.
If Merz or any other candidate fails to get that majority within the 14 days, the constitution allows for the president to appoint the candidate who wins the most votes as chancellor, or to dissolve the Bundestag and hold a new national election.
Trips abroad planned for Wednesday, to Paris for talks with French President Emmanuel Macron and Warsaw to meet Polish counterpart Donald Tusk, will almost certainly be postponed.
All this takes place as Germany’s anti-immigrant party AfD, which was formally classified as right-wing extremist last week by the domestic security service, has overtaken Merz’s bloc in some polls and is now the main opposition force in the Bundestag.
AfD lawmakers celebrated Merz’s stumble, with co-leader Alice Weidel saying in a post on X that “this demonstrates what a weak foundation” his coalition was built on.
“As AfD, we have set out to turn this country upside down. We are ready to take on government responsibility. And we call for reason to prevail. Mr. Merz should step down immediately. The path should be cleared for new elections in our country,” Weidel said.
🚨🇩🇪 ALICE WEIDEL CALLS FOR RE-ELECTIONS‼️
The designated chancellor Friedrich Merz FAILED the parliamentary election.
This is the greatest embarrassment in German history.
In a subsequent TV interview, Weidel said her party, which finished second in the Feb. 23 national ballot, is ready to join a coalition government.
“We can only demand that common sense prevails, Mr. Merz withdraws and the path is opened for a fresh election,” she added.
“Hardly anyone expected this scenario,” Andrea Römmele, a politics professor at the Hertie School in Berlin, told public broadcaster ARD. “A chancellor must have a majority to be able to govern. If it’s not enough at the beginning, what will happen when the going gets tough?”
Jan van Aken, the co—leader of the far-left opposition Linke party, also weighed in.
“If he can’t even unite his own people here in the Berlin bubble, how is he supposed to unite the country?” van Aken told public broadcaster ARD. “The CDU must now ask itself whether Merz is the right man for the job.”
5 RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL/HOUTHIS
Major Israeli Attack Destroys Yemen’s Sanaa International Airport
Tuesday, May 06, 2025 – 11:40 AM
Israel’s air force has continued a second day of large-scale attacks on Yemen, targeting the leadership and infrastructure of the Ansarallah movement, or Houthis, after the Sunday Houthi ballistic missile strike on Israel’s Ben Gurion international airport in Tel Aviv.
Huge plumes of black smoke have been observed rising above the Houthi-controlled airport area in the capital of Sana’a. Prior Israeli strikes, with US backing, focused on the vital port of Hodeidah.
BREAKING | Large fires have broken out as a result of Israel's attacks on different areas in Yemen's capital Sanaa, including the airport. pic.twitter.com/Dl4P8JbCXi
Within a couple hours before the Tuesday Israeli strikes on Sana’a commencing, the IDF military issued an evacuation warning for Yemen’s Sana’a International Airport, stated that being near it “exposes you to danger.”
This warning was given because Israel is fully aware that this is a civilian aviation hub. However, Israeli officials have accused the Houthis of using it as a military base and staging ground.
“We call upon you to evacuate the airport area — Sana’a International Airport — immediately and warn everyone in your vicinity of the need to evacuate this area immediately,” the IDF’s Arabic spokesman warned earlier Tuesday. “Failure to evacuate and move away from the place exposes you to danger.”
Several power stations in the area of the Yemeni capital have also been hit, initial reports say. “Among the targets were the Dhahban and Haiz power stations, a cement plant in Amran, and civilian aircraft and terminals at the airport,” according to regional media.
The IDF has previously alleged that the Houthis use cement from the targeted factory to erect tunnels and military infrastructure, amid international criticism accusing Israel of destroying vital civilian infrastructure.
The Israeli army has issued a full statement which reads as follows:
For the second time in less than 24 hours, the Israeli Air Force struck Houthi terror targets in Yemen. The IAF recently destroyed infrastructure at Sana’a’s main airport, rendering it completely inoperable, in response to a Houthi missile launch at Ben Gurion Airport. Like the Hodeidah port hit earlier, the airport was used by the Houthis to transfer weapons and fighters, and regularly served the group’s terror activities.
The IDF also struck key power stations around Sana’a, which the Houthis exploited as a major energy supply source for their operations—another example of using civilian infrastructure for terror. Additionally, the Al-Amran cement factory north of Sana’a, crucial for tunnel and military infrastructure construction, was hit—impacting the Houthi economy and military buildup.
But if the Houthis have demonstrated anything, it is their resolve and refusal to back down even after months of American-led major attacks. Likely they will ramp up efforts to target Israeli and American assets.
Massive destruction and smoke clouds over Yemen’s main international airport and flight hub…
In a statement following the IDF's attack in Yemen, the IDF Spokesperson says:
– It brought the Sanaa airport to a complete standstill.
– The airport is used by the Houthis to transfer weapons and operatives, which is another example of the Houthis using civilian infrastructure… pic.twitter.com/XznlKgEjzD
Given this new targeting of Yemen’s international airport, this could invite Houthi efforts to double down on targeting Ben Gurion in Tel Aviv. Is an airport strike tit-for-tat on the horizon? Certainly this is bad news for civilian aviation and safety in the whole region.
The United States has been supporting Israel’s ‘retaliatory’ action, and Houthi leadership has confirmed that the Monday strikes on Hodeidah were the result of “US-Israeli aggression”.
Currently the US has two aircraft carriers and accompanying warships in the Red Sea region, and they might be further targeted with drone and rocket attacks.
The US Navy/CENTCOM has already for months been fending off sporadic fire from Yemen, but things seem to be escalating at this point.
The Trump administration has recently been accused of hiding US casualties in this now long-running Red Sea naval battle, which is turning into yet another Washington quagmire in the Middle East.
END
MISSION COMPLETE!
Houthis Confirm Ceasefire As Trump Essentially Declares ‘Mission Accomplished’
Tuesday, May 06, 2025 – 02:59 PM
Update(1455ET): The Houthis have confirmed there will be a ceasefire in the Red Sea with the United States. The deal was mediated by Oman, and this looks like a ‘mission accomplished’ moment for Trump where he’s ready to grasp onto a way out of the quagmire the US found itself in. Wisely, he is getting the US out, and Israel appears to be stepping up in terms of its own defense.
Mideast war correspondent Elijah Magnier observes, “The US intelligently stopped the bombing on Yemen due to the lack of objectives, the empty outcome and the high cost versus no gain.” Others have noted this is essentially a declare ‘mission accomplish’ and cut and run moment, amid no better alternatives.
The full Yemeni statement…
#Statement | A Spokesman at the Foreign Ministry has said today that following recent discussions and contacts conducted by the Sultanate of Oman with the United States and the relevant authorities in Sana'a, in the Republic of Yemen, with the aim of de-escalation, pic.twitter.com/jJZTsW8Mwe
Surreal, close-up images are emerging showing the sheer and utter destruction and size of the Israeli attack on Sanaa International Airport earlier in the day…
It appears Washington is now content to hand things over the Israel. The Pentagon might have better use for its two aircraft carriers off Yemen, which were essentially large sitting ducks.
* * *
Did the White House make some kind of diplomatic breakthrough with the Houthis of Yemen? There may be behind-the-scenes, unofficial and indirect diplomatic engagement going on, but in the Red Sea there’s a full-scale war scenario. But perhaps no longer.
This week Israel joined the US coalition’s bombardment of Yemen, following a ballistic missile launch on Ben Gurion International Airport, resulting in six injuries. President Trump on Tuesday has indicated the Houthis are ready to talk and no longer want to fight the US. The Houthis within an hour of the headlines denied this, calling the president’s words “inaccurate”. Fight still on?…
HOUTHI SPOKESMAN DENIES GROUP WILL STOP ATTACKING RED SEA SHIPS
He claimed Houthis have informed his administration that they no longer want to “fight” with the United States, and they are ready to halt attacks on Red Sea shipping lanes. He said this while hosting new Canadian Prime Minister Mark Carney at the White House.
Recent weeks have witnessed an uptick in Houthi drone attacks on US warships in regional waters, including against the USS Truman carrier, which reportedly resulted in a F-18 Hornet fighter jet going overboard.
“The Houthis have announced that they are not…that they don’t want to fight anymore,” Trump said in the fresh statement.
“They just don’t want to fight. And we will honor that, and we will, we will stop the bombings, and they have capitulated, but more importantly, they we will take their word they say they will not be blowing up ships anymore,” he added.
“We just found out about that. So I think that’s very, very positive… I will accept their word, and we are going to stop the bombing of the booties, effective immediately,” he said. He claimed the Iran-backed rebels have essentially admitted defeat:
“We will stop the bombings. They have capitulated… we will take their word that they will not be blowing up ships anymore, and that’s the purpose of what we were doing,” Trump said.
The fact that the US Commander-in-Chief just said US attacks will go into effect “immediately” is quite significant – as the fight has been on for over a year. The Houthis have long vowed to keep up the attacks on Red Sea shipping so long as Israel occupies Gaza, but have given China and Russia a pass.
However, Al Jazeera has written in an update that “The Houthis have not confirmed the pause. The US has been striking the Houthis on near daily basis.”
Tuesday saw huge Israeli airstrikes destroy Yemen’s main international airport in Sanaa. Fireballs and smoke plumes rose high over the entire capital city. The raids appear to have ceased for now.
The Israelis have had support from US military assets in the region, and the Houthis have condemned what a statement called the “US-Israeli aggression”. The Pentagon has said US forces “have hit over 1,000 targets” in Yemen since mid-March, “killing Houthi fighters and leaders, including senior Houthi missile and UAV officials, and degrading their capabilities”
Trump’s words from the Oval Office on Tuesday:
BREAKING: President Trump just announced that the United States will stop the bombings of the Houthis in Yemen, effective IMMEDIATELY, after they called and conceded defeat.
"The Houthis have announced to us at least that they don't want to fight anymore. They just don't want to… pic.twitter.com/J2H5QchqMC
Meanwhile, Trump also said from the Oval that he has a “very, very big announcement” ahead of his upcoming trip to the Middle East. He’s set to depart Monday for Saudi Arabia, the United Arab Emirates and Qatar.
“We’re going to have a very, very big announcement to make, like as big as it gets,” Trump said. “And I won’t tell you on what … and it’s very positive.”
“It is really, really positive. And that announcement will be made either Thursday or Friday or Monday before we leave,” Trump said. “But it’ll be one of the most important announcements that have been made in many years about a certain subject, very important subject. So you’ll all be here.”
ISRAEL HAMAS
Israel issues ultimatum to Hamas: Deal within two weeks or expanded war
An Israeli defense official said that if no deal is reached, a new Gaza offensive will begin.
By AMICHAI STEINMAY 5, 2025 14:49Updated: MAY 5, 2025 22:2
Israeli forces operate in the Gaza Strip on January 14, 2024(photo credit: IDF SPOKESPERSON’S UNIT)
If Hamas does not agree to Israel’s proposed outline – including the release of 10 hostages in exchange for a 45-day ceasefire – the military operation in Gaza will be significantly expanded, the security cabinet decided on Sunday night.
“The security cabinet unanimously approved the operational plan presented by the chief of staff to defeat Hamas in Gaza and bring back the hostages,” a senior political source said after the meeting.
“The plan includes… seizing and holding territory in Gaza, moving the Gazan population southward for their protection, preventing Hamas from distributing humanitarian aid, and launching powerful strikes against Hamas – all actions that will help bring about its defeat.”
During the meeting, Prime Minister Benjamin Netanyahu said the plan is effective because it can achieve both primary objectives: defeating Hamas and returning the hostages.
“It differs from previous plans by shifting from targeted raids to seizing territory and maintaining control over it,” he added.
Additional IDF activity in the Gaza Strip on Thursday, May 23, 2024. (credit: IDF SPOKESPERSON’S UNIT)
Israeli officials stated that the operation would begin only after US President Donald Trump completes his visit to the region next week. The American leader is scheduled to visit Saudi Arabia, the United Arab Emirates, and, in a first in years, Qatar.
Israeli sources told The Jerusalem Post they believe Trump’s visit may bring some progress in negotiations toward a deal.
However, it remains unclear in Israel whether the ultimatum will lead Hamas to soften its positions.
No turning back once operation underway
On Monday, Finance Minister Bezalel Smotrich emphasized that the cabinet had made a dramatic decision: there will be no withdrawal, even to secure the release of hostages.
“Once the maneuver begins, there will be no retreat from the territory we’ve taken – not even for hostages. The only way to free them is to defeat Hamas. Any withdrawal would bring the next October 7,” he said.
In practice, according to an Israeli source who spoke with the Post, Hamas has less than two weeks to agree to a deal.
The cabinet also approved the continuation of the blockade on Gaza and the prevention of humanitarian aid from entering. Only later, following the start of the military operation and the evacuation of a large portion of the population to the south, will a humanitarian plan be implemented.
This plan, presented by the IDF and approved by the cabinet, will distinguish between true recipients of humanitarian aid and Hamas by using civilian companies and securing designated areas with the IDF.
A sterile zone will be established in the Rafah area, beyond the Morag Corridor, where incoming individuals will be screened by the IDF to prevent Hamas operatives from entering, a security official explained.
National Security Minister Itamar Ben-Gvir was the only one who opposed the proposed humanitarian plan.
“I don’t understand why we need to give them humanitarian aid. They have enough food. We should bomb Hamas’s food reserves,” Ben-Gvir told other ministers.
Chief of Staff Lt.-Gen. Eyal Zamir responded: “These ideas put us at risk.”
While cabinet ministers told the Post they were satisfied with the approved plans and that their full implementation would lead to real change on the ground, the opposition voiced several concerns.
“The cabinet approved the ‘conquest of the Strip’ tonight – yet no one knows what those words actually mean,” said opposition leader Yair Lapid.
Benny Gantz, head of the National Unity Party, added: “A month and a half ago, Netanyahu said we were ‘on the brink of total victory.’ Now, he’s talking again about a new plan that will ‘bring resolution.’ The public isn’t stupid, and it’s tired of empty slogans. It’s time to speak the truth.”
ISRAEL HAMAS
IDF to clear northern Gaza, send civilians south for aid pilot program, says security source
The announcement means effectively implementing the “General’s Plan,” which was discussed for much of 2024 but never initiated.
As part of the impending widening of the invasion of Gaza, the IDF plans to completely clear the northern part of the enclave, sending its citizens to southern Gaza, where a new humanitarian aid pilot program will begin, a senior security source said on Monday.
The announcement means the IDF will finally be effectively implementing the “General’s Plan,” which was widely discussed for much of 2024 but never implemented under a mix of pressure from the Biden administration and objections within the IDF itself.
According to the plan – originated by former National Security Council chief Giora Eiland and adopted by a group of senior reservist officers who were upset that the war was not leading to a quick enough defeat of Hamas – if all civilians were cleared from northern Gaza, then the IDF could let loose completely against any remaining Hamas terrorists in the area.
Israel has faced less American pressure regarding its war tactics since US President Donald Trump took office in January.
The senior security source added that most of Gaza, other than certain set-aside zones, would be cleared and that northern Gaza, especially, would be mostly flattened as the IDF did in the Rafah area by the Morag Corridor.
Pictures from Gaza 9 July 2024 (credit: Chen Shimmel)
This would make it much harder for Hamas to continue to hide in northern Gaza.
It would also make it easier, said the source, to separate groups of Gazans to receive food without Hamas interference.
Further, the sources said that in the new phase of the invasion, Israel will significantly increase how much of Gaza it will hold onto, including keeping forces stationed in areas that have been taken over, far beyond the already 40% of Gaza taken over.
In the event of a new ceasefire deal with Hamas, the source said Israel would keep – at a minimum – a security zone around Gaza to secure the Israeli border perimeter.
Israel plans to begin a humanitarian aid pilot program
All of this comes a day after The Jerusalem Post confirmed that the two companies expected to handle Gaza food aid distribution once Israel reopens the spigot to facilitate the aid are American companies: Safe Reach Solutions and UG Solutions.
These are the same companies who, along with certain Egyptian officials, supervised the checking of vehicles seeking to pass from southern to northern Gaza in January of this year after the ceasefire between Israel and Hamas went into effect.
The companies’ personnel often have special forces or CIA backgrounds to be qualified for handling complex foreign missions.
Although there is still no set date, food aid is expected to be restarted in the coming weeks.
The Washington Post has reported that these companies will run five food distribution hubs in southern Gaza as part of the pilot program for returning at least 60 trucks of food per day to the enclave.
END
ISRAEL HAMAS/GAZA
IDF to implement military control in Gaza, Netanyahu declares in cabinet
The cabinet also approved the entrance of humanitarian aid into Gaza and its future distribution by a civilian company.
ARMORED IDF VEHICLES are seen during their ground operations at a location inside Gaza, in an image released on Wednesday by the IDF.(photo credit: REUTERS)
The IDF’s renewed operation in the Gaza Strip will include military control of the area, Prime Minister Benjamin Netanyahu said during the security cabinet late Sunday night.
The plan is also set to include the holding of territory, the movement of Gazans southwards, and denying Hamas’s ability to distribute humanitarian aid.
Netanyahu also noted the plan would allow both war goals to be achieved, defeating Hamas and the return of the hostages.
During the meeting, the cabinet unanimously approved expanding the IDF’s operations in Gaza.
The new phase of fighting is expected to begin only after US President Donald Trump’s visit to the region next week, due to the mobilization of reservists and other reasons.
Prime Minister Benjamin Netanyahu seen at the President’s residence in Jerusalem, May 1, 2025 (credit: YONATAN SINDEL/FLASH90)
Cabinet ministers told The Jerusalem Post that the current plan was better than previous ones.
The Hostage Families Forum criticized the plan on Monday shortly after the announcement. “The plan approved by the cabinet deserves to be called the ‘Smotrich-Netanyahu Plan’ – a plan to abandon the hostages and forsake national and security resilience,” the forum noted.
“This morning, the government admits that it is choosing territory over hostages, contrary to the will of over 70% of the public,” the forum added.
During the meeting, the government also approved the entrance of humanitarian aid into Gaza and its future distribution by a civilian company.
Finance Minister Bezalel Smotrich, while at a conference, defended the cabinet’s decision.
“From the moment the ground operation begins, there will be no withdrawal from the territories we have captured – not even in exchange for hostages. The only way to free the hostages is to defeat Hamas,” Smotrich said.
“Any withdrawal will bring about the next October 7. The IDF will make it clear to Hamas that harming the hostages will come at a heavy price.”
New Hope-United Right MK Ze’ev Elkin said, “Defeating Hamas does not contradict the release of the hostages—on the contrary, only when Hamas is under pressure does it agree to deals.”
Opposition head and Yesh Atid chair Yair Lapid remarked, “During wartime, the government can come to its citizens and ask them to tighten their belts — but only on one condition: that it does so itself. That it cuts its own expenses as well. That is not what’s happening.
“They have no right. A government that doesn’t touch the funds for draft dodgers and political cronies has no right to demand that its citizens pay more and more, to make more and more sacrifices. Israel’s middle class can’t take it anymore. It’s tired of being suckered. Tired of being exploited,” he concluded.
Ben-Gvir opposes entrance of humanitarian aid to Gaza
National Security Minister Itamar Ben-Gvir opposed the motion. During the cabinet, Ben-Gvir said, “I don’t understand why we need to give them humanitarian aid. They have enough food there. We should bomb Hamas’s food storage facilities.”
IDF Chief of Staff Eyal Zamir responded, saying, “These ideas put us at risk.”
Ben-Gvir responded to Zamir, stating that “we have no legal obligation to provide food. Those you’re fighting have enough to eat.”
Prime Minister Benjamin Netanyahu told Zamir that “ministers are allowed to express views that differ from those of military officers.”
Attorney-General Gali Baharav-Miara also said that under the law, Israel is obligated to allow humanitarian aid into Gaza.
The cabinet secretary responded to the attorney-general, stating, “For the sake of clarity, no minister has proposed starving them.”
Baharav-Miara responded, “I didn’t say that.”
END
HEZBOLLAH/LEBANON
IDF strikes in Lebanon’s south, north, Syria
A drone attributed to Israel targeted Khallet al-Mahafer on the eastern outskirts of Aitaroun. In addition, the IAF carried out attacks in Syria.
By WALLA!, JERUSALEM POST STAFF, MAARIVMAY 5, 2025 15:46Updated: MAY 5, 2025 23:27
A sign shows the border between Israel and Lebanon, with a map of IDF’s five outposts and an Israeli soldier (illustrative)(photo credit: AYAL MARGOLIN/FLASH90, GOOGLE MAPS/THE JERUSALEM POST, IDF SPOKESPERSON’S UNIT)
The IDF confirmed on Monday evening that it had struck several Hezbollah terror infrastructure sites in Lebanon.
“A short while ago, the IDF struck terror infrastructure sites within a Hezbollah strategic weapons production and storage facility in the Beqaa area in Lebanon. The IDF identified Hezbollah’s attempts to reestablish presence and operations within the facility,” the handout statement read.
The military added that it had also struck Hezbollah sites in the Srifa area, which it said was ” a blatant violation of the understandings between Israel and Lebanon.”
The IDF’s confirmation came after several Arab media reports about strikes throughout Lebanon.
A drone carried out three consecutive strikes on an open area in the village of Aitaroun, in the eastern sector of southern Lebanon, Lebanon’s state-run news agency reported on Monday.
Hezbollah flags flutter as protesters, mainly Houthi supporters, rally to show support to Palestinians in the Gaza Strip and Lebanon’s Hezbollah, in Sanaa, Yemen September 27, 2024. (credit: REUTERS/KHALED ABDULLAH)
A drone attributed to Israel targeted Khallet al-Mahafer on the eastern outskirts of Aitaroun, Hezbollah-affiliated newspaper Al-Akhbar also reported.
Israel also reportedly struck the outskirts of the village of Janta, in the Al-Baqa’a district of eastern Lebanon, near the Syrian border, Hezbollah-affiliated Al Manar reported.
In parallel with reports of attacks in Lebanon, there were additional reports of attacks in Syria.
The previous week, three men, including two Syrian civilians and one Lebanese citizen, were killed in an Israeli strike when a pickup truck was bombed in the south of the country between the villages of Mis al-Jabal and Laida.
Lebanese army takes control of southern Lebanon
The IDF said that one of the men killed in Lebanon was a terrorist in Hezbollah’s ‘Radwan Force,’ and the other was also a Hezbollah terrorist. In addition, multiple strikes were carried out against military targets in the Hama area in western Syria on Saturday, Hezbollah-affiliated network Al-Manar reported. Al-Manar attributed the strikes to Israel.
Over 90% of Hezbollah’s infrastructure has been dismantled by the Lebanese army since the start of the November ceasefire, a security source said on Wednesday, according to French international news site, Agence France-Presse (AFP).
In an interview with Sky News Arabia, Lebanese President Joseph Aoun said that the army has taken over control of over 85% of the southern part of Lebanon.
END
SYRIA
IRAN
RUSSIA VS UKRAINE
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUE
Trump Bans Federal Funding For Dangerous Gain-of-Function Research
Monday, May 05, 2025 – 10:10 PM
President Donald Trump on Monday afternoon signed an executive order stopping federal funding for dangerous gain-of-function research in high-risk countries like China and Iran, as well as in nations with insufficient research oversight. Joined in the Oval Office by Health and Human Services Secretary Robert F. Kennedy Jr. and National Institutes of Health official Jay Bhattacharya, Trump underscored his commitment to protecting America’s public health and national security.
The order equips U.S. research agencies to identify and terminate funding for biological research—both ongoing and future—that could threaten public safety or national security. It specifically targets federally funded studies abroad that risk triggering another pandemic, focusing on gain-of-function experiments like those conducted on bat coronaviruses by the EcoHealth Alliance and China’s Wuhan Institute of Virology.
The measure also seeks to shield Americans from lab accidents and biosecurity incidents, such as those believed to have contributed to the COVID-19 pandemic and the 1977 Russian flu.
“It’s a big deal,” Trump said of the order. “It could have been that we wouldn’t have had the problem we had.”
Kennedy Jr., who emerged during the pandemic as one of the most vocal critics of vaccination mandates and forced lockdowns, celebrated the order, declaring, “In all of the history of Gain-of-Function research, we cannot point to a single good thing that has come of it.”
.@SecKennedy tells the story of how America came to fund Gain-of-Function research in Wuhan: "In all of the history of Gain-of-Function research, we cannot point to a single good thing that has come of it." pic.twitter.com/D3mgDNYRyP
— Rapid Response 47 (@RapidResponse47) May 5, 2025
Bhattacharya also praised the order, noting that many scientists believe that dangerous gain-of-function research is “responsible for the COVID pandemic.”
“This is a historic day,” Bhattacharya said. “This proclamation makes it so that—most science is possess no threat to human populations—but the fraction of research that has the risk of causing a pandemic and harming every single person on the face of the earth, this executive order puts in place a framework to make sure the public has a say that if such risk is being taken, only scientists alone won’t be able to decide that.”
— Rapid Response 47 (@RapidResponse47) May 5, 2025
Back in 2014, Dr. Anthony Fauci’s National Institute of Allergy and Infectious Diseases funneled a $3.7 million grant through EcoHealth, with nearly $600,000 sent to WIV for bat coronavirus studies—research many Republicans slam as dangerous gain-of-function experiments that could have sparked the pandemic.
Last month, the Trump White House unveiled a revamped COVID-19 website on titled “Lab Leak: The True Origins of COVID-19,” replacing the previous COVID.gov site that provided public health resources. The new site strongly endorses the lab leak theory, asserting that the SARS-CoV-2 virus likely originated from a laboratory incident at the Wuhan Institute of Virology in China, involving gain-of-function research.
In the final days of his presidency, President Joe Biden issued a preemptive pardon of Fauci—shielding him from potential prosecution over allegations he misled Congress about the research.
END
USDA Secretary Details Astounding Spending On Nutrition Programs, Warns Chronic Diseases Will ‘Bankrupt’ America
Monday, May 05, 2025 – 08:30 PM
Agriculture Secretary Brooke Rollins has issued a dire warning about the United States’ chronic disease crisis, declaring that poor nutrition is fueling a healthcare cost surge that threatens to bankrupt the nation.
During a recent Cabinet meeting with President Donald Trump at the White House, Health and Human Services Secretary Robert F. Kennedy Jr. outlined plans to reform the Supplemental Nutrition Assistance Program (SNAP) with Rollins, targeting sugary drinks and junk food that the USDA chief argues drive an unprecedented obesity epidemic.
“We have 13 nutrition programs. Listen to this number. This is going to astound you. In America today, through USDA—this is not all the other agencies, this is just here at USDA—we spend $370 million a day on nutrition programs,” Rollins told All-In podcast host David Friedberg in an interview released Sunday. “So, not just SNAP, but food banks and all of the other ones. That’s just USDA. That is a stunning number. We’ve got to do better.”
.@SecRollins tells @friedberg the USDA spends $370 million daily on nutrition programs: "You can't solve this through government regulation."
"You can solve it through nutrition, empowering our farmers, and getting good food into these programs."pic.twitter.com/CNwCHecLMo
The stakes are extraordinarily high, with Rollins pointing to alarming health trends that she warns pose an existential threat to the nation’s future, disproportionately harming the country’s most vulnerable and low-income populations.
“Why are billions of taxpayer dollars being spent on sugary drinks and junk food in our supplemental nutrition program for food-insecure, lower-income populations? This contributes to an obesity and chronic disease epidemic unlike any developed country has ever seen. 74% of our adolescents would not pass the military readiness test today. This is a massive challenge facing America,” she told Friedberg, adding, “Taxpayers fund junk food and sugary drinks at the front end, leading to diabetes and other issues, while the back-end costs of treating chronic diseases are bankrupting states through Medicaid.”
Brooke Rollins joined David Friedberg to discuss her role as Secretary of Agriculture.
The highlight: her conversation on how she and RFK Jr. are working to remove sugary snacks and drinks from SNAP.
— End Tribalism in Politics (@EndTribalism) May 5, 2025
Kennedy, a longtime champion of the Make America Healthy Again movement and a fierce critic of industrial food interests, is closely aligned with Rollins in transforming the nation’s food supply. “In the first administration, health care was under my portfolio in domestic policy. As conservatives, we’ve long discussed how to make America healthy again, focusing on the cost to the health care system,” Rollins said. “Enter Bobby Kennedy—while we don’t agree on everything, we align on most things. I was with him yesterday touring farms and discussing nutrition and agriculture. The opportunity for the agriculture and health leads to work together daily to solve this is key. You can’t solve it through government regulation, but through nutrition, empowering farmers, and getting good food into these programs.”
Last month, Kennedy unveiled a plan to eliminate eight artificial food dyes and colorings from the U.S. food supply by the end of 2026, collaborating with food companies to ensure a seamless transition.
ABC News reported: Federal officials are taking steps to pull the authorization for two rarely used synthetic food colorings — Citrus Red No. 2 and Orange B — within the coming months. In addition, the six other petroleum-based dyes that federal health agencies are seeking to eliminate by the end of next year are Green No. 3, Red No. 40, Yellow No. 5, Yellow No. 6, Blue No. 1 and Blue No. 2.
“I just want to urge all of you, it’s not the time to stop; it’s the time to redouble your efforts, because we have them on the run now, and we are going to win this battle,” Kennedy said of the historic move. “And four years from now, we’re going to have most of these products off the market, or you will know about them when you go to the grocery store.”
MARK CRISPIN MILLER
Jill Biden falters at Pope’s funeral; Tina Knowles has breast cancer; Hailey Bieber has 2 ovarian cysts; Twins’ To…
UNITED STATES
Joe Biden appears concerned for wife Jill’s health as he asks pointed question at Pope’s funeral
April 26, 2025
Former president Joe Biden, 82, and his wife Jill, 73, both appeared frail in a rare public appearance at the pope’s funeral this weekend. The couple, who have largely retired from the world stage since Biden’s dramatic exit from the US election race in July 2024, sparked health concerns as they paid their respects to the late pontiff. According to expert lip-reader Nicola Hickling, Biden, appeared to ask if Jill was feeling ok at one point during the event. And her reply was concerning. Hickling explains, “Biden asked her if she is ok and while she gave a half smile, her words or movement of the mouth didn’t seem to be properly forming.” In turn, he had to be helped down the steps by Jill and a bishop as they arrived at the event ahead of several other dignitaries.
Researcher's Note – After receiving a two-dose initial vaccination [sic] series and two additional booster shots, U.S. first lady Jill Biden tested positive for COVID-19 in September 2023: Link
Prayers Up! Lil Uzi Vert Reportedly Rushed To The Hospital In NYC
April 22, 2025
Lil Uzi Vert’s fans were left concerned on Monday after the ‘Just Wanna Rock’ rapper was reportedly rushed to a New York City hospital. The 29-year-old rapper, whose real name is Symere Bysil Woods, was seen being wheeled out of a Lower Manhattan hotel by paramedics, sparking major concern. As reported by TMZ, first responders arrived at the scene after a 911 call was made reporting a “sick person.” While it’s unclear who placed the call, eyewitnesses said Uzi was conscious as he was loaded into an ambulance around 2:30 p.m. local time. His girlfriend, former City Girls rapper JT, was reportedly by his side, offering support. The video reportedly shows Lil Uzi Vert being escorted out of the hotel on a gurney, surrounded by security guards holding black umbrellas to shield his privacy. As of Tuesday, the rapper was still receiving treatment at the hospital. However, the cause of his illness remains a mystery, and it’s still unclear what symptoms he’s experiencing. A week ago, he shared an Instagram post from the studio, teasing new music. Meanwhile, JT has not yet publicly commented on the situation.
Hailey Bieber opens up about ovarian cyst diagnosis
April 22, 2025
Less than a year after giving birth to her son, Hailey Bieber has shared that she is currently suffering from two ovarian cysts. Taking to her Instagram story to show her stomach, the model wrote: “Currently have two ovarian cysts ” and added, “if you deal with ovarian cysts I’m right there with ya! .” Ovarian cysts are fluid-filled sacs that appear in or on the surface of the ovary. Although they tend to go away on their own, some can burst and cause serious symptoms, such as severe abdominal pain and bloating. This is the first time that the Rhode founder has opened up about her health issues, and in 2022, she shared in an Instagram video that she suffered from a “mini-stroke” that led to a heart condition. The 28-year-old then went on to be diagnosed with patent foramen ovale (PFO), a condition where a small opening between the heart’s upper chamber normally present during fetal development failed to close after birth. Hailey then underwent a procedure to close that she described was a “fairly large” opening.
Kelly Stafford’s Cousin Has the Same ‘Exact Same’ Brain Tumor She Had
April 24, 2025
Six years after Kelly Stafford underwent surgery to remove a brain tumor, she says her cousin is dealing with the same illness. “The cousin I was closest to growing up had the exact same brain tumor I did, just on the opposite side,” Stafford, 35, revealed on the Thursday, April 24 episode of her “ The Morning After ” podcast. “[I] went up there [to Michigan] to be there for that, she’s doing great for all of those who prayed, she’s doing amazing. She’s back home.” Just one week earlier, Kelly, wife of NFL quarterback Matthew Stafford , celebrated the anniversary of her successful surgery — a 12-hour ordeal that came with significant risk. Kelly posted a photo via Instagram of herself on April 17 on the beach, wearing a hat and sunglasses.
Jay Leno on becoming his wife’s caretaker after her dementia diagnosis: ‘I mean, that’s really what love is’
April 24, 2025
Jay Leno, 74, says caring for his wife, Mavis [78], after she received her dementia diagnosis is just part of what love is all about. During an appearance on today’s episode of “In Depth with Graham Bensinger,” the former late-night host spoke about the challenges he faced being a caregiver to his wife. “When I got married, you sort of take a vow: ‘Will I live up to this? Or will I be like a sleazy guy if something happens to my wife, I’m out banging the cashier at the mini-mart?'” Leno told the podcast’s host, Bensinger. “No, I didn’t. I enjoy the time with my wife. I go home, I cook dinner for her, watch TV, and it’s OK.” They still do many of the things they did before, he said. Only now, he has to help her with daily tasks. “But, I like it. I like taking care of her,”
Tina Knowles reveals private cancer battle with support from Beyonce
April 22, 2025
Tina Knowles-Lawson has revealed she quietly battled breast cancer, saying her daughters Beyonce and Solange were a major source of comfort during the ordeal. In an emotional interview with CBS Mornings, Knowles, 71, shared that doctors found two tumors during a mammogram, leading to a Stage 1 diagnosis. “I was nervous,” she told Gayle King. Though she’s now recovered, Knowles said the road wasn’t easy. A post-surgical infection nearly made her miss Glamour’s 2024 Women of the Year event. “Beyonce told me to stay home and rest,” she said, “but I pushed through because it was important to me.”
Researcher's Note - Tina Lawson Gets Backlash After Thanking Chris Rock For Encouraging Vaccine [sic]. Beyoncé's mother reposted a screenshot of the news and gave her input in the caption: Please protect yourself from serious illness and death ! It might not stop you from getting it but it will help you fight for your life," wrote Lawson. "I have lost too many people I love to this disease!! They didn't have to die Nobody is trying to bully you (I'm only saying this and I know I will be facing all of the negative comments and misinformation), but it's okay I'll take the backlash, because I care about you. Link
Twins legends Tony Oliva and Kent Hrbek are recovering from strokes suffered days apart
April 24, 2025
Two Minnesota Twins greats are recovering from strokes suffered days apart, the team confirmed Wednesday. Former right fielder and designated hitter Tony Oliva had what the team called “a series of mini strokes” over the past month but is expected to make a full recovery. Former first baseman Kent Hrbek also suffered a minor stroke following knee surgery in early April and is recovering at home. The 86-year-old Oliva spent his entire 15-year career with the Twins. Hrbek, 64, who grew up in the area in Bloomington and played his entire 14-year career with his hometown team.
Fans cheer as YouTube chef Old’s Cool Kevmo announces beating stage 4 cancer
April 21, 2025
Reno, NV – Kevin Ashton, also known as Old’s Cool Kevmo on his socials, recently gave an update regarding his health in a YouTube video where he shared that he has beaten stage 4 melanoma and is now cancer-free. Old’s Cool Kevmo gained popularity when he started posting his simple cooking recipes on TikTok and YouTube. Netizens loved his videos, and he now has a massive following of 4.6 million followers on TikTok. On Monday, April 21, 2025, Kevin shared a health update video on his social media where he spoke about his battle with cancer. In the video, he said that in September 2023, he was diagnosed with metastatic cancer, stage 4 melanoma. He further added: ”My prognosis wasn’t that good. My doctor told me I had a 70% chance of not surviving my cancer. And trust me, that kind of news changes your life.” ‘Last summer, I had a mutation in my cancer that caused a new tumor to start growing. This tumor was eradicated using radiation. I’ve also had over 20 infusions of immunotherapy.” He said that he got the results of the PET scan on Friday, and they were good as it showed zero metabolic activity in his body, which meant that he was cancer-free.
Jess Wright says her ‘world ended’ when she discovered her son has a life-threatening heart defect
April 27, 2025
Jess Wright has opened up about her son’s life-threatening heart condition and said her ‘world ended’ the day it was discovered. The reality star, 39, became a mum for the first time back in 2022 when she and her husband, William Lee-Kemp, welcomed their son Presley, two. She described their son as ‘everything and more’, but the family’s happiness took a turn just last year when he was diagnosed with a rare and potentially deadly heart condition. She said the family first realised that something was wrong when Presley began to suffer the symptoms of what they thought was a standard chest infection. However, further tests last year revealed that Presley will eventually need open heart surgery. Presley has a condition called Bicuspid Aortic Valve, which means that his aortic valve that controls blood flow in the body has two leaflets instead of three. He has an extreme form of the condition too, as those with it can typically live until their 50s without requiring surgery, but doctors have said Presley will likely need it before he is 10. Jess said that as Presley is so young, it is better if he has the surgery when he is older. Otherwise, as his body grows, the replacement valve, if fitted too soon, may need replaced. Complications that can come from Presley’s condition include heart failure.
What is gout? Symptoms and tips to avoid ‘embarrassing’ disease that afflicted Josie Gibson
April 23, 2025
This Morning host Josie Gibson has revealed that she has been diagnosed with “gout” after filming a new travel show for Channel 5 called Around the World in First Class. The 40-year-old was told about the diagnosis when she underwent a health check for another show called The 1970s Diet. Gibson admitted to overindulging while filming the Channel 5 travel show and said the health revelation forced her to change both her eating and sleeping habits. Joking about the condition, Gibson added: “I thought only kings like Henry VIII got gout. I was like, I’m a 40-year-old woman, this is really embarrassing. I think when some presenters taste something, they just have a little nibble. But I love my food too much, I just can’t help it. As soon as I stopped catching all the flights and started drinking a bit more water and less champagne, it levelled itself out,” added the TV personality.
Researcher's Note - COVID-19 Vaccination [sic] May Increase Gout Flares Among Patients With Infrequent Flares: Link
Uriah Rennie: ‘I was a Premier League referee, but now I’m learning to walk again’
April 3, 2025
Uriah Rennie became a familiar face to millions of football fans after becoming the Premier League’s first black referee. Once described as the “fittest” match official in global football and a martial arts expert, he is now learning to walk again after a rare condition left him paralysed from the waist down. After spending five months in hospital, the 65-year-old has spoken to BBC News about rehabilitation, his fighting spirit and a brand new role. He was on a birthday trip to Turkey last year when he was hit with a sudden striking pain in his back. “I thought I had just slept funny on a sun lounger, I was hoping to go paragliding but because of my backache I couldn’t go,” he says.
Researcher’s note - Sheffield footballing legend Uriah Rennie releases video in efforts to overcome vaccine [sic] hesitancy in Black, Asian and minority ethnic communities. Uriah, aged 61, from Sheffield recently had his Covid vaccination[sic] and allowed the cameras in to film a video encouraging others to get "vaccinated". Before having the "vaccine", Uriah did his own research into how they were made and the clinical trials they underwent. Link
Ciru Muriuki reveals she developed cardiac complications triggered by grief
April 25, 2025
Media personality Ciru Muriuki has opened up about the physical toll grief took on her, revealing that she developed cardiac complications following the loss of the love of her life, famous actor Charlie Ouda, in 2024. In a heartfelt and candid revelation, Ciru shared in a video posted on her Instagram account on Friday, April 25, 2025, how grief affected not only her emotional state but also her physical health. Ciru explained that grief manifested physically, disclosing that she developed a heart arrhythmia last year. The condition, known for causing irregular heartbeats, was a result of the overwhelming sorrow she experienced after the death of Charlie. Muriuki expressed that in her entire life, she had never been loved as deeply as Charli loved her. “Let me tell you guys, I am almost 42 years old and I have never been loved like that. It wasn’t about the grand gestures; it was about the comfort, the easy intimacy, that wonderfully silly friendship between us,” she said.
Researcher's Note - Ciru Muriuki finally shares her big Covid-19 secret: A vaccine [sic] has been announced. But try and imagine how long it will be before it gets to Kenya. Richer countries will get doses before we do. So please. In the meantime, please please be careful. Wear your masks COVERING YOUR NOSE AND MOUTH, not under your chin. Stay away from large gatherings. Wash and sanitize your hands. I would not wish what we are going through on my worst enemy,” Ciru added. Link
Jang Geun-suk calls cancer diagnosis a gift, embraces healthier lifestyle
April 28, 2025
Jang Geun-suk [37] revealed that he was diagnosed with thyroid cancer in August 2024 and spoke about the profound changes in his life afterward. On the 27th, in an SBS entertainment program, Jang Geun-suk said, “I undergo a health checkup every year, but this year when I got checked, they told me something was wrong. So, I had a biopsy and was ultimately diagnosed with cancer.” He added, “There was fear in the very word ‘cancer.’ Where is there a good cancer in this world?” expressing his feelings at that time. He noted, “I didn’t tell anyone for a week,” emphasizing the shock he felt. However, Jang Geun-suk underwent significant changes through this difficult experience. He stated that since his thyroid cancer diagnosis, “my body and mind have become stronger” and mentioned, “I developed the habit of checking my blood pressure every morning.” He has adopted a new attitude toward health.
MAFS star rushed to hospital for emergency surgery after suffering a heart attack
April 27, 2025
A Married At First Sight groom has been rushed to hospital for emergency heart surgery. Tony Mojanovski, from the most recent series of Married At First Sight Australia, has suffered a heart attack. The 53-year-old TV star, who got married to Morena Farina on the hit show, was admitted to Wollongong Hospital on Thursday morning. Tony was admitted to hospital after experiencing chest pains and had to undergo surgery. But days later, Tony is now recovering and has even spoken out about his health scare and woes.
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL AND NATURAL GAS ISSUES/GLOBAL/ENERGY/
“We Are At A Tipping Point”: Shale Giant Diamonback Says US Oil Output Has Peaked, Slashes CapEx Amid OPEC Price W
Monday, May 05, 2025 – 11:50 PM
The OPEC price war has made landfall in the US.
Following our report earlier that Saudi Arabia has declared a new price war on OPEC+ quota-busters such as Kazakhstan, and non OPEC+ members such as US shale producers, today after the close Diamondback Energy, the largest independent oil producer in the Permian Basin, made a historic pronouncement today when it said that production has likely peaked in America’s prolific shale fields (something we also mentioned earlier in the day) and will decline in the months and years ahead after crude prices plummeted.
Separately, the Texas company trimmed its own full-year production forecast Monday, and said that it expects onshore oil rigs across the entire US industry to drop by almost 10% by the end of the second quarter and fall further in the months after.
“This will have a meaningful impact on our industry and our country,” Diamondback Chief Executive Officer Travis Stice wrote. “We believe we are at a tipping point for U.S. oil production.”
The outlook from Diamondback, one of the industry’s most prominent producers, marks a key shift for expectations within the sector. Before oil prices started plunging last month, most banks and research firms had forecast US shale production would grow this year and next before plateauing later in the decade. The Permian, they said, was apt to peak in the late 2020s or early 2030s depending on prices.
Not any more.
As Bloomberg notes, the US shale fields have been the engine behind the surge in US crude output over the past 15 years, making the country the world’s top producer and largely energy independent, much to the horror of OPEC. The ability of companies like Diamondback to quickly bring new wells online using hydraulic fracturing, also known as fracking, has bedeviled OPEC. But the prospect that shale may now have reached its peak and is facing years of painful decline, poses a huge threat to US President Donald Trump’s goal to turbocharge fossil fuel production.
While analysts and pundits have long said repeatedly that US shale is poised to peak, the industry had managed to prove them wrong by innovating and driving output to fresh records year after year.
So the assertion by Diamondback that the moment has finally come is extremely noteworthy.
“Today, geologic headwinds outweigh the tailwinds provided by improvements in technology and operational efficiency,” said Stice, who will step down as CEO at the company’s annual shareholder meeting later this month.
US oil futures, pricing in a global demand recession, have dropped about 20% since the start of April when Trump announced wide-ranging tariffs that triggered a global trade war. At the same time, OPEC and its allies have surprised markets with plans to increase oil supplies more than expected later this year in response to internal bickering, and particularly the unwillingness of some members such as Kazakhstan to comply with set production quotas.
It’s led to frustration spilling out both privately and in public comments from America’s oil bosses. US Energy Secretary Chris Wright sought to reassure the industry during a visit to Oklahoma last month, saying turmoil from the president’s trade war is likely to be fleeting.
“We can’t help but wonder if the last ‘letter to stockholders’ written by outgoing CEO Travis Stice was intended as much for government leaders in Washington, DC as it was for FANG shareholders,” Tim Rezvan, an analyst at KeyBanc Capital Markets wrote in a note to clients.
Diamondback said the number of crews fracking wells, which it estimates has fallen 15% this year, will continue to shrink as shale operators dial back amid unprofitable oil prices.
The company now expects to produce about 488,000 barrels of oil per day this year, when taken at the midpoint of its new guidance released Monday. That’s less than 1% lower than the roughly 492,000 barrels-per-day view it gave three months ago.
The driller is the latest US operator to announce cutbacks in recent months. EOG Resources and Matador Resources are also dialing back activity, while Nabors Industries said that shale producers plan to cut 4% of their drilling rigs by the end of the year, citing a survey of nearly half the industry.
For the immediate future, Diamondback is cutting three drilling rigs and one of its frack crews, leading to a total of $400 million slashed from its budget this year, Stice said, the clearest indication that US output is about to fall off a cliff, because if the most efficient and lowest cost producers have no choice but to throttle output what does that leave for the smaller, less efficient frackers?
“We are taking our foot off the accelerator as we approach a red light,” Stice said. “If the light turns green before we get to the stoplight, we will hit the gas again, but we are also prepared to brake if needed.”
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUE
CANADA
“They Need Us, We Don’t Need Them” – Trump To Host New Canadian PM Carney Amid Trade Tensions
President Donald Trump will host Canada’s new Prime Minister, Mark Carney, at the White House on Tuesday for high stakes talks focused on trade and security.
The meeting comes amid heightened tensions between the two allies, following Trump’s imposition of steep tariffs on Canadian products and ongoing remarks suggesting that Canada should become the 51st U.S. state.
This marks the first meeting between the two leaders since Carney’s Liberal Party secured victory in the April 28 federal election.
“He called me. He was very nice and I congratulated him,” Trump told NBC’s “Meet the Press” on Sunday, referring to a post-election phone call with Carney.
Trump said he will bring up the idea of Canada becoming the 51st state during his meeting with the Canadian prime minister.
“I’ll always talk about that, you know, why we subsidize Canada to the tune of $200 billion a year,” he said.
“If Canada was a state, it wouldn’t cost us, it would be great. It would be such a great—it would be a cherished state.”
In 2024, U.S. goods exports to Canada totaled $349.4 billion, while goods imports from Canada were $412.7 billion, resulting in a U.S. trade deficit of $63.3 billion.
Canada’s economy is deeply tied to the United States, with approximately 75 percent of its exports going to south of the border. This significant trade reliance is primarily driven by the energy and automotive sectors.
Canada along with Mexico were excluded from Trump’s international reciprocal tariff regime as both countries are already subject to 25 percent tariffs due to ongoing U.S. concerns over illegal migration and fentanyl trafficking. The tariffs made an exception for Canadian energy products and potash, which were instead hit with a lower 10 percent tariff.
Additionally, the United States maintains a 25 percent tariff on steel and aluminum imports and a 25 percent tariff on all automobile imports, with an exemption for U.S. content. These tariffs have a significant impact on Canada.
On May 4, Trump also announced plans to impose a 100 percent tariff on foreign-made films, a move that could affect Canada’s film industry.
In retaliation, Canada has implemented 25 percent tariffs on certain U.S. goods, including steel and aluminum products and auto imports.
“Again, remember this, we don’t need their cars, we don’t need their lumber, we don’t need their energy. We don’t need anything,” Trump said during the NBC interview.
“We do very little business with Canada. They do all of their business practically with us. They need us, we don’t need them.”
U.S. Commerce Secretary Howard Lutnick downplayed the likelihood of reaching a trade deal with Canada during the upcoming meeting, describing the situation “very complex.”
“They have their socialist regime and it’s basically feeding off of America,” Lutnick said, in reference to the Liberal Party of Canada.
Trump dismissed the idea of lifting tariffs during the NBC interview, saying, “I wouldn’t do that because if somebody thought they were going to come off the table, why would they build in the United States?”
When asked whether he would consider using military force to annex Canada, Trump said such a scenario is “highly unlikely.”
“I think we’re not going to ever get to that point. It could happen. Something could happen with Greenland, I’ll be honest. We need that for national and international security,” Trump said.
“I don’t see it with Canada. I just don’t see it, I have to be honest with you.”
Following his election win, Carney had a phone call with Trump. On April 30, Trump said that the candidate who hated him “the least” had won the election. Trump had earlier said the Liberal government under Justin Trudeau was “nasty” in his first term as president but that he would prefer to deal with a Liberal than a Conservative government this time around.
Trudeau stepped down after Minister of Finance Chrystia Freeland announced her resignation from his cabinet in a public letter in mid-December, objecting to Trudeau shuffling her out of her role as finance minister and saying the government needed to be more responsible with spending.
The incident, along with declining support for the Liberals in the polls, led to more public calls within the Liberal caucus for Trudeau’s resignation, which he agreed to early this year.
Carney, who started his career in the private sector, worked as a public servant before becoming the governor of the Bank of Canada from 2007 to 2013, and then the Bank of England from 2013 to 2020.
He later joined the private sector again, serving on the boards of a number of organizations. He also served as the U.N. Special Envoy on Climate Action and Finance. He has said he resigned from all roles before becoming a candidate in the Liberal leadership race in January.
END
INDIA PAKISTAN
India Launches Strikes On Pakistan After Terror Attack
by Tyler Durden
Tuesday, May 06, 2025 – 04:45 PM
Things just escalated in a huge and dangerous way between nuclear-armed rivals India and Pakistan, with the Indian government confirming it has launched strikes on nine sites inside Pakistan-occupied Jammu and Kashmir.
“No Pakistani military facilities have been targeted,” the statement added according to Reuters, in a ‘counter-terror’ operation dubbed “Operation Sindoor”.
India identified that it hit the terrorist infrastructure of Islamist groups in retaliation for the April 22 terror attack on Indian tourists in Kashmir which killed 26 in the scenic Pahalgam area.
The victims had been singled out by the gunmen, which the Indian government has suggested were sponsored by Pakistan, for being Hindu in a sectarian mass killing.
“These steps come in the wake of the barbaric Pahalgam terrorist attack in which 25 Indians and one Nepali citizen were murdered. We are living up to the commitment that those responsible for this attack will be held accountable,” India’s statement read in the wake of the new military action.
The fact that India is taking pains to let the Pakistani side know that no official military sites were targeted strongly suggests New Delhi is trying to strike without it leading to escalation.
Tensions have been soaring since last month, with mirror build-ups of forces on both sides of the disputed Line of Control (LOC) which separates the two countries. There have been military drills, and even recent ballistic missile test launches by Pakistan.
Pakistani security officials have said a child was killed and two others were injured in the early Thursday (local) attack. India said that these were “sites where terrorist attacks against India have been planned.”
The statement continued, “Our actions have been focused, measured and non-escalatory in nature. It claimed, “India has demonstrated considerable restraint in selection of targets and method of execution.”
Is this the big escalation many have feared, or will this episode of attacks on apparently unaffiliated terror groups within Pakistan’s zone of control lead to de-escalation and cooling? It depends largely on if Pakistan responds militarily. The two sides hate each other and have fought at least three historic wars.
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1333 UP 0.0021 PTS OR 21 BASIS POINTS
USA/ YEN 142.80 DOWN 0.903 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 1.3378 UP .0088 OR 88 BASIS PTS
USA/CAN DOLLAR: 1.3805 DOWN 0.0017 (CDN DOLLAR UP 17 BASIS PTS)
Last night Shanghai COMPOSITE UP 37.08 PTS OR 1.13%
Hang Seng CLOSED UP 158.03 PTS OR .70%
AUSTRALIA CLOSED DOWN .06%
// EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 158.03 PTS OR .70%
/SHANGHAI CLOSED UP 37.08 PTS OR 1.13%
AUSTRALIA BOURSE CLOSED DOWN 0.06%
(Nikkei (Japan) CLOSED
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 3375,75
silver:$33.06
USA dollar index early TUESDAY morning: 99.32 DOWN .33 BASIS POINTS FROM MONDAY’s CLOSE.
The USA/Yuan CNY UP AT 7.2163, CNY ON SHORE ..CHINA MUST DEVALUE TO GOLD
THE USA/YUAN OFFSHORE UP TO 7.2083:
TURKISH LIRA: 38.61 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.271
Your closing 10 yr US bond yield UP 2 in basis points from FRIDAY at 4.359% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.864 UP 4 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.802 DOWN 1 BASIS PTS.
GOLD AT 11;00 AM 3396.00
SILVER AT 11;00: 33.22
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: TUESDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 1.07 PTS OR 0.01%
GERMAN DAX: closed DOWN 94.89 pts or 0..41%
FRANCE: closed DOWN 31.01 pts or 0.40%
Spain IBEX CLOSED UP 12.20 pts or 0.09 %
Italian MIB: CLOSED UP 84.70 or 0.22%
WTI Oil price 59L25 11 EST/
Brent Oil: 62.33 11:00 EST
USA /RUSSIAN ROUBLE /// AT: 81.00 ROUBLE UP 0 AND 27/ 100
GERMAN 10 YR BOND YIELD; +2.5500 UP 4 BASIS PTS.
UK 10 YR YIELD: 4.5963 UP 5 BASIS POINTS
CDN 10 YEAR RATE: 3.237 UP 5 BASIS PTS.
CDN 5 YEAR RATE: 2.817 UP 3 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1365 UP 0.0054 OR 54 BASIS POINTS//
British Pound: 1.3361 UP .0071 OR 71 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.5120 DOWN 3 FULL BASIS PTS//
JAPAN 10 YR YIELD: 1.270
USA dollar vs Japanese Yen: 142.43 DOWN 1.28 BASIS PTS
USA dollar vs Canadian dollar: 1.3769 DOWN 0.0055 BASIS PTS CDN DOLLAR UP 55 BASIS PTS
West Texas intermediate oil: 59.00
Brent OIL: 61.98
USA 10 yr bond yield DOWN 5 BASIS pts to 4.297
USA 30 yr bond yield DOWN 3 PTS to 4.801%
USA 2 YR BOND: DOWN 6 PTS AT 3.787%
CDN 10 YR RATE 3.170 DOWN 2 BASIS PTS
CDN 5 YEAR RATE: 2.763 DOWN 3 BASIS PTS
USA dollar index: 99.07 DOWN 57 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 38.64 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 81.50 DOWN 0 AND 50/100 roubles
GOLD $3328.25 (3:30 PM)
SILVER: 33.13 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: DOWN 389.83 OR 0.95%
NASDAQ 100 DOWN 176.60 PTS OR 0.88%
VOLATILITY INDEX: 24.76 UP 0.68 PTS OR 1.12%
GLD: $ 315.48 UP 8.40 PTS OR 2.90%
SLV/ $30.22 UP 0.74 PTS OR OR 2.51%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 21.20 OR 0.09%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS
MORNING BIG NEWS
Ford Shares Slide After Net Income Plunge, Suspended Guidance
by Tyler Durden
Tuesday, May 06, 2025 – 09:25 AM
Ford Motor’s first-quarter net income plunged to $471 million from $1.3 billion a year earlier, as EV losses and production halts took a toll, the company said Monday.
Revenue dropped to $40.7 billion from $42.8 billion, and wholesale deliveries fell 7% to 971,000 due to slower output of some models, according to the Wall Street Journal.
The electric-vehicle division lost $800 million, down from $1.3 billion, helped by lower material costs and stronger pricing. Adjusted pretax income fell to $1 billion from $2.8 billion, still beating Ford’s and analysts’ zero-dollar forecast in February.
Ford also suspended full-year guidance, citing uncertainty over President Trump’s tariffs, which it said could cost $1.5 billion. “It’s a pretty dynamic situation. I think this is all really new for all of us,” said CEO Jim Farley. He added the financial impact remains “huge numbers,” though lower than for many rivals.
The WSJ report says to limit losses, Ford paused imports of China-made Lincoln Nautilus and halted U.S. exports to China. CFO Sherry House noted Ford is better insulated than competitors, with 80% of its U.S. sales assembled domestically and most parts untaxed.
Still, Trump’s tariffs derailed Ford’s forecast for lower vehicle prices and steadier demand. The company now expects prices to rise and sales to slow by summer. Carmakers, including GM and Tesla, are reassessing outlooks amid the trade upheaval.
“We are focused on managing what we control,” House said.
We noted after the company’s Q1 report that CEO Farley faces continuing challenges, including overhauling the company’s EV strategy to curb losses and cutting high warranty repair expenses. The automaker lost a record $5.1 billion on EVs last year and expects that deficit to widen to as much as $5.5 billion in 2024.
While Farley is pushing for more affordable, longer-range models, those won’t hit the market until 2027. Meanwhile, the pressure on Ford shares continues, with the stock falling nearly 19% last year, in contrast to General Motors’ 48% surge.
Farley has emphasized the need to close Ford’s $7 billion to $8 billion cost disadvantage against competitors, largely driven by warranty costs. He has tied executive bonuses to improving quality and efficiency, with the company targeting $1 billion in cost cuts this year.
“In 2025, we expect to make significantly more progress on our two biggest areas of opportunity – quality and cost,” Farley said. “We control those key profit drivers, and I am confident that we are on the right path.”
Looks like the company still has work to do…
USA DATA NEWS
Tariff-Frontrunning Sparks Record Trade Deficit In March
by Tyler Durden
Tuesday, May 06, 2025 – 08:45 AM
The US trade deficit widened to a record in March as companies rushed to import products as the Trump administration readied sweeping tariffs.
The goods and services trade gap grew 14% from the prior month to $140.5 billion (notably higher than the median estimate of a $137.2 billion deficit)
The value of imports jumped 4.4% to a record $419 billion, while exports edged up just 0.2% as firms scrambled to get ahead of President Trump’s ‘Liberation Day’ tariffs….
As a reminder, the figures aren’t adjusted for inflation.
Both Goods and Services deficits increased. Imports of consumer goods climbed by the most on record, while inbound shipments of capital equipment and motor vehicles also increased.
Oil & Gas exports topped import by a record in March while imports of Chemicals relative to exports exploded to a record high…
Interestingly, while the trade deficit with Canada and Mexico shrank, Mexico’s trade deficit surged to a record high. The gap with Ireland surged to $29.3 billion as Goods imports from the EU surged amid a likely pull-forward in imports of pharmaceutical goods from the region.
Imports from transshipment hubs surged, likely as some imports from China were diverted to third countries. Imports from Vietnam and Thailand rose well above the 75th percentile of their year-to-date pace.
Of course, the gold arbitrage that we have discussed in detail also has some impact on this data. As a reminder, GDP fell an annualized 0.3% in the January-March period, with net exports subtracting nearly 5 percentage points – the most on record.
But as Goldman Sachs pointed out, this tariff-front running surge in imports as American firms stocked up on inventory, will reverse in Q2 (Bloomberg Economics sees the import surge from tariff front-running easing, based on a drop in container shipping from China to the US since April 16)…
… prompting a resurgence in the headline GDP data.
USA ECONOMIC NEWS
Trump Blocks Harvard From New Federal Grants
Monday, May 05, 2025 – 08:55 PM
Harvard University will no longer be eligible for government grants, the White House informed the acclaimed scandal-plagued, institution on May 5. Trump’s Education Secretary Linda McMahon sent a letter to Harvard President Alan Garber on Monday night to inform the university that it is not eligible for federal grants until it makes significant changes to its management, the official said.
— Secretary Linda McMahon (@EDSecMcMahon) May 5, 2025
The letter cites low public confidence in higher education, Harvard’s continued racial profiling, and takes issue with the virtually untaxed status of Harvard’s significant financial endowment.
“Perhaps most alarmingly, Harvard has failed to abide by the United States Supreme Court’s ruling demanding that it end its racial preferencing, and continues to engage in ugly racism in its undergraduate and graduate schools, and even within the Harvard Law Review itself. Our universities should be bastions of merit that reward and celebrate excellence and achievement. They should not be incubators of discrimination that encourage resentment and instill grievance and racism into our wonderful young Americans”, McMahon wrote, before advising the university to no longer seek Federal grants, “since none will be provided.”
“The above concerns are only a fraction of the long list of Harvard’s consistent violations of its own legal duties. Given these and other concerning allegations, this letter is to inform you that Harvard should no longer seek GRANTS from the federal government, since none will be provided. Harvard will cease to be a publicly funded institution, and can instead operate as a privately-funded institution, drawing on its colossal endowment, and raising money from its large base of wealthy alumni. You have an approximately $53 Billion head start, much of which was made possible by the fact that you are living within the walls of, and benefiting from, the prosperity secured by the United States of America and its free-market system you teach your students to despise.”
On Friday, President Trump threatened to go after Harvard’s tax-exempt status: “We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!” he wrote in a social media post.
Two weeks earlier, Harvard filed a lawsuit against the Trump administration, arguing its freeze on research funding is unconstitutional and “flatly unlawful” and called on the court to restore more than $2.2 billion in research dollars.
Earlier this year, the Department of Education sent Harvard a list of demands, including combating anti-Semitism on campus and eliminating diversity, equity, and inclusion (DEI) programs, that the university needed to fulfill or risk losing billions in federal funding, the Epoch Times reported
In its response, Harvard said it was “not prepared to agree to demands that go beyond the lawful authority of this or any administration.”
The Trump administration then froze $2.26 billion from the university, with nearly $9 billion in funding set aside for Harvard put under review.
The administration had also pushed for Harvard to disclose information about potential foreign ties, with the Department of Homeland Security threatening to remove the university’s ability to enroll foreign students.
Weeks later, Harvard released two reports describing how Jewish, Israeli, Zionist, Muslim, Arab, Palestinian, and pro-Palestinian students all reported feeling marginalized or targeted over their identities and views after the Oct. 7, 2023, Hamas terrorist attack on Israel and the campus protests that followed.
“Especially disturbing is the reported willingness of some students to treat each other with disdain rather than sympathy, eager to criticize and ostracize, particularly when afforded the anonymity and distance that social media provides,” Garber wrote in a letter to the campus community.
Trump suggested on April 30 that his administration would no longer give government grants to Harvard if it did not agree to fulfill his demands to eliminate DEI and combat on-campus anti-Semitism.
“A grant is at our discretion, and they are really not behaving well. So it’s too bad,” Trump said.
Harvard has sued the administration to unfreeze its funds, and Garber said on Friday that it would be “highly illegal” for Trump to compel the Internal Revenue Service to revoke the university’s tax-exempt status.
“If the government goes through with a plan to revoke our tax-exempt status, it would … be highly illegal unless there is some reasoning that we have not been exposed to that would justify this dramatic move,” Garber told The Wall Street Journal.
“The message that it sends to the educational community would be a very dire one, which suggests that political disagreements could be used as a basis to pose what might be an existential threat to so many educational institutions.”
On Monday, the White House official announcing McMahon’s letter took issue with recent Harvard data showing that less than 3 percent of surveyed faculty identify as conservative, and suggested the school could do more to bring diverse viewpoints to campus.
The official also accused the university of abandoning rigor and academic excellence, citing a plagiarism scandal involving former Harvard President Claudine Gay. All future funds to the university will be at the Trump administration’s discretion, the official said.
END
amazing: zero hedge asks major questions to Trump at the White House:
ZeroHedge In The White House: Who Blew Up The Nord Stream Pipelines? Trump Responds
Monday, May 05, 2025 – 11:30 PM
A few short years ago, US intelligence under the Biden administration targeted ZeroHedge, accusing us of ‘mis-/mal-/dis-information’ for what was in reality us merely taking an independent, critical view of Washington policy regarding the Russia-Ukraine war and the Covid-19 pandemic. We were promptly smeared, de-monetized by Google, briefly banned on Twitter (now X) and generally sneered at by the mainstream media, with accompanying ill-informed hit pieces.
We took this as a badge of honor, given we simply asked questions which the majority of non-DC beltway commemorati, i.e.: normal middle Americans, wanted to know. Fast-forward to President Trump taking the White House, and times have drastically changed, especially seen in the fact that America’s Commander-in-Chief actually regularly and openly engages with the press – something which was missing in action during four years of sleepy Joe Biden. Major events and the obvious questions and angles which most of the American public naturally thought should be subject of frank open debate and inquiry were not even asked, as the State Dept and White House press pool MSM members were regularly rewarded for posing ‘safe’ questions on which there was ‘establishment consensus’. This is how “access” typically works in the beltway swamp after all.
Again, times have changed and with that welcome shift comes your very own ZeroHedge correspondent, recently admitted into the White House press pool under the administration’s new media policy. Finally the people can have a voice, outside the domineering ‘gatekeeping’ of the likes of CNN, NBC, ABC, Washington Post, and the list goes on.
Exhibit A: on Monday “Tyler Durden” engaged directly with the president, first expressing appreciation that Trump broke the MSM gatekeeping stranglehold over who is allowed into government briefing rooms, and then asking the kind of question high on ZH readers’ minds. Watch:
🚨 NEW: ZeroHedge @zerohedge gets to ask Trump a question!
ZH: “Two and a half years ago the Nord Stream pipeline blew up. You said Russia did not blow up its own pipeline. Will you launch a formal investigation into who blew it up?”
“If you can believe it they said Russia blew it up,” Trump initially acknowledged in response to our question on whether two-and-half years after the Nord Stream pipeline bombings, the US administration would open up a formal investigation into whodunnit.
“Well probably if I asked certain people they would be able to tell you without having to waste a lot of money on an investigation,” the president said. “But I think a lot of people know who blew it up, but I was the one who blew it up originally because I wouldn’t let it be built, and then when Biden got in he allowed it to be built.”
Here, President strongly suggested that based on classified intelligence he knows exactly who was behind the September 26, 2022 covert operation which ended in the Baltic Sea explosions and major leaks which took the vital Russia to Germany natural gas pipelines permanently offline. Of course, with no investigation whatsoever (a serious European inquiry didn’t even begin till the following year), Western mainstream press coalesced around the dubious “Russia bombed their own pipeline!” narrative.
That’s when Trump as an aside tipped his hand related to his strategy for leveraging the price of oil to bring Moscow to the negotiating table. “But I think Russia with the price of oil right now, oil’s gone down, I think we’re in a good position to settle – they want to settle, Ukraine wants to settle. If I weren’t president nobody would be settling,” he explained.
“They’re losing 5,000 people,.. think of it here we’re talking about football… they’re losing 5,000 people on average a week,” he continued. “Mostly Ukrainian soldiers and Russian soldiers… not including people that are killed by missiles going to areas they shouldn’t be. It’s a very terrible thing and I’ve think we’ve come a long way.”
Whodunnit?
In early 2023, famed journalist and Pulitzer price winner Seymour Hersh published a bombshell report which concluded that the United States blew up the Russia-to-Germany natural gas pipeline as part of a covert operation under the guise of the BALTOPS 22 NATO exercise.
Hersh, relying on unnamed national security sources, describes months of discussions and back-and-forth involving the Biden White House, CIA, and Pentagon. The report says planning was in the works all the way back to December 2021, with a special task force formed under the aegis of US National Security Advisor Jake Sullivan.
“The Navy proposed using a newly commissioned submarine to assault the pipeline directly. The Air Force discussed dropping bombs with delayed fuses that could be set off remotely. The CIA argued that whatever was done, it would have to be covert. Everyone involved understood the stakes,” the report, entitled How America Took Out The Nord StreamPipeline reads. “The Biden Administration was doing everything possible to avoid leaks as the planning took place late in 2021 and into the first months of 2022,” it continues.
In parallel, an interesting Ukrainian ‘rogue ops’ narrative emerged, reported in the Wall Street Journal and some other outlets long after the explosions. In that version the scheme was dubbed a Ukrainian “public-private” partnership as it involved military officers reportedly being financed from these private sector sources. Some top Ukrainian special-operations officers were recruited, and the crew set out “armed only with diving equipment, satellite navigation, a portable sonar and open-source maps of the seabed charting the position of the pipelines.”
The Ukrainian ‘rogue’ covert sabotage and CIA narratives aren’t necessarily mutually exclusive. But Trump’s response to ZH should put the ‘Russia destroyed its own vital and economically lucrative pipeline’ storyline to rest.
View President Trump’s full response to ZeroHedge pressing him on an independent US Nord Stream investigation here:
Meanwhile, Trump characterized Putin’s WW2 Victory Day unilateral 3-day ceasefire proposal as a positive initial step toward peace – despite Zelensky this weekend rejecting it as but “theatrics”…
“President Putin just announced a three-day ceasefire, which doesn’t sound like much but it’s a lot if you knew where we started from.” He concluded: “We had a president that for three years didn’t speak to Putin and it all shouldn’t have happened – this is a war that should have never happened.”
“And you are going to be very disappointed when you find out the real number of people that were killed – it’s far greater, many times greater… it’s very very deadly horrible war,” the president added.
Question 2: Anthrax
We also asked Health and Human Services Secretary Robert F Kennedy Jr today about the 2001 Anthrax attacks, an event he has long-discussed as possibly being a false flag staged by the Bush-Cheney admin:
Prior remarks by Kennedy outlining the anthrax attacks… (in-depth dive into the attacks to follow soon on ZH):
Robert Kennedy Jr tells Jimmy Dore that anthrax was mailed to the two senators trying to block the Patriot Act in 2001, and the FBI discovered that the anthrax came from the CIA lab in Fort Detrick: pic.twitter.com/CxxPQSnric
The decade-old age of fables like Russian collusion, laptop disinformation, or the pangolin/bat cause of COVID is not over; it is just hitting midstream.
For much of April, amid stock downturns, in the classical paranoid style, we were assured by the Wall Street Journal news reporters and the liberal press that Trump had either:
a) guaranteed an inevitable recession,
b) engineered a losing trade war he likely regretted,
c) crashed the stock market,
d) lost his once majority favorability ratings,
e) mostly had a failed first 100 days,
or f) all of the above.
Some of us thought these diagnoses and prognoses were absurd. How in mediis rebus, during a radical counterrevolution never quite seen before, could anyone issue such bleak predictions? Would these same observers have said the U.S. was doomed to lose World War II after the bleak first five months of mostly failure in the Pacific, or North Africa, after the utter U.S. army disaster at the Kasserine Pass?
When the Biden administration compiled two consecutive quarters of negative GDP—the supposedly classic definition of a recession—most of these same pundits assured us that the data was meaningless and irrelevant. The same left-wing media throng insisted Biden was in his cognitive prime until hours before he abdicated from the ticket under pressure. They swore to us that Robert Mueller’s “walls were closing in” on Donald Trump, who would legitimately go to jail, buried by 93 lawfare indictments.
As for their polls showing that Trump was all but through after three months in office, almost all of them were not just off in the 2016 presidential race, but again in 2020. And given the chronic temptation to warp polls to create Democratic momentum and fundraising, they rigged their polls yet again in 2024—even when they knew in disgrace that they were ruining their brand. A former Harris campaign official just admitted that internal polls never showed Harris ahead—even as the majority of polls predicted her victory.
So why would anyone believe any of these people? Take the now-defunded Corporation for Public Broadcasting. Its recent NPR/PBS News/Marist poll assured us that 45 percent of the public gave Trump an F for his first 100 days, with only 42 percent expressing approval of his job so far.
But this is the same bunch that also assured us in its final authoritative 2024 election poll, on the very eve before the voting, that Kamala Harris would win the race by 4 points—a lead proverbially “outside the margin of error.” (The next day, she lost the popular vote by 1.5 percent or 2,284,952 votes and the Electoral College by 312-226). The public broadcasting polling partnership was off 5.5 points, perhaps suggesting that it wished to aid the Harris campaign more than either adhering to professional and ethical norms or fearing to lose what little was left of its reputation.
As soon as the Washington Post and the New York Times issued their dismal Trump bias polls, observers quickly pointed out they had, by intent, vastly underpolled those who voted for Trump in 2024. In contrast, the polls with the best 2024 records had Trump’s 100-day approval ratings near even or positive: Rasmussen was 50-49%, and the joint national surveys by Insider Advantage and Trafalgar Group had Trump up at 100 days, 46-44%.
As far as the supposed economic and stock meltdown, the March and April monthly economic reports showed that job growth was not only impressive but well above market expectations, with special emphasis on permanent rather than part-time jobs, even as the number of federal workers went down.
News of massive, multi-trillion-dollar investments and relocations to the U.S. continues. Far from having all the pressure levers in the tariff standoffs, China is starting to realize that the U.S. market is still the center of the world, while its own autocratic party dictatorship—again contrary to pundits’ warnings—is far more vulnerable to rising popular dissent than is a constitutional republic like the U.S.
Inflation in March and April either did not increase or, in fact, declined. Corporate profits were solid. Energy costs went down. Now that we have actually passed Trump’s first 100 days, where is the crashed stock market that supposedly signaled the recession on our doorstep?
The Standard & Poor 500 is back at the level of March 10, roughly where it was before the hysteria—and 12 percent up from a year ago. By May 2, both the Dow and S&P indices showed the longest continued gains in over 20 years. The Dow is now about where it was in September and October before the election—at levels that had not so long ago made investors giddy.
The media-academy nexus is also in hysterics over Trump’s threats of suspending federal funding to higher education unless it makes reforms consistent with Supreme Court decisions and Department of Education guidelines.
Many of us have warned campuses that it would be wiser to compromise, given the public would soon learn of what they had been doing for decades—and would be unpleasantly surprised. After all, private, multibillion-dollar endowed elite campuses took billions of dollars in easy federal money—despite endemic anti-Semitism, flagrant flaunting of U.S. civil rights laws and court decisions by continuing to use racial and gender biases, lucrative but unsavory financial partnerships with illiberal regimes of the Middle East and communist China, spiraling annual tuition costs exceeding the annual rate of inflation, 40-60 percent surcharges and overhead gouging of federal grants, and nonexistence of First Amendment protections for visiting speakers and lecturers, and on and on.
No matter. As soon as Harvard vowed that it would rally its elite brethren campuses against the administration, news predictably began to leak about the culpability and exposure of the real Harvard. Why did it only now and so suddenly rush to end its sister-campus relationship with the terrorist-supporting Birzeit University on the West Bank, or why now replace directors of its radical Center for Middle Eastern Studies program—in a fashion it never had previously dared even after the massacres of October 7?
Then, news of a joint China-Harvard program abroad suddenly surfaced. Allegedly, Harvard had aided members of what some have called a Chinese “paramilitary organization,” despite that group previously being sanctioned for its role in the Chinese state violence conducted against the Uyghurs—a fact that apparently did not surface publicly or perhaps even particularly bother any of the usually hypersensitive and quick-to-demonstrate Harvard students and faculty.
Shortly thereafter, a comprehensive Harvard in-house anti-Semitism report surfaced, documenting in detail the routine harassment of and threats to Harvard Jewish students. In truth, even if it wished to, Harvard now could not control its out-of-control and institutionalized anti-Semitism. It is a bane that Harvard has systematically ignored. It permeates the entire campus and is deeply embedded in the university’s Middle East Studies DEI architecture and recruitment of illiberal foreign students from dictatorial regimes.
The Harvard Law Review (currently being investigated by the Department of Education’s civil rights division) just bestowed a $65,000 fellowship to law student Ibrahim Bhramar. What did Bhramar do to earn such Harvard lucre?
Apparently, he was rewarded either for or despite attacking a Harvard Business School Jewish student during one of the recent anti-Israel campus protests, racking up misdemeanor criminal charges in the process. The prosecutor had noted that Bhramar had conducted “a hands-on assault and battery…and actual interpersonal violence” against the student. Rewarding an anti-Semitic attacker with $65,000 says it all. In 2024, hundreds of Harvard students and faculty disrupted their own graduation, commencing with walkouts and shouts of “free Palestine.”
In sum, despite the Harvard hysteria, it quietly knows what it has been doing, what the stakes are should it lose $2-9 billion in ongoing taxpayer support, and why it would not like full disclosure to the public of both its many excesses and lapses. So, if it is smart, Harvard will likely quietly seek a compromise with the Trump administration.
Finally, we are watching a full Democratic/left-wing meltdown.
Its puerile anti-Trump antics have gone from the clownish to the obscene and violent.
What is the point of disrupting a presidential congressional address by screaming and cane shaking, or of a silly 25-hour pseudo-filibuster? Who believes that smutty sh*t and f*ck congressional videos, or foul-mouthed threats to Trump and Elon Musk (e.g., “dipsh*t,” a**hole”) will win over Independents?
What is the strategic logic behind Democratic governors and senators threatening to cause havoc at Republican officials’ town halls, or to ignite “mass protests” and “disruptions,” so that “Republicans cannot know a moment of peace”?
Does anyone believe that yet a third impeachment of Trump will ensure a Democratic midterm victory?
Or is the correct left-wing playbook to champion a motley array of assassins, spousal abusers, and gang members? Is it wiser then to either laud or ignore attacks on Tesla dealers, owners, and chargers, or wink and nod at blatantly anti-Semitic demonstrations and protests?
Is there anything taboo for the hysterical left?
Yes—it cannot offer the country a simple “Democratic Contract for America”—listing its own solutions to the nation’s existential crises.
There is not a single Democratic blueprint of how to address a $2 trillion budget deficit, $3 billion in daily interest payments, $37 trillion of national debt, or a $1.2 trillion annual trade deficit.
There is no post-Biden corrective agenda to deal with his legacy of 12 million recent illegal aliens, added to the existing 20 million current unlawful immigrants.
Not a single Democratic senator, representative, or party official has put forth any plan to end the Biden-era conflicts in the Middle East and Ukraine.
Nor will they even discuss the challenge of biological males wrecking women’s sporting events, institutionalized campus anti-Semitism, or unlawful race-based chauvinism.
On all these matters, the Democrats and their leftist supporters have offered no counter-proposals, no alternate agendas, and no unique solutions to the nation’s problems—other than boring, profanity-ridden venom and tired performance-art buffoonery.
Reliance on warped polls, untrustworthy and biased reporting, and media sensationalism will not help such poverty of thought and character.
Obscene, hysterical, and clueless is no way to appeal to Americans, Democrats.
USA/ANTISEMITISM//HAMAS// REPORT
KING NEWS
The King Report May 6, 2025 Issue 7486
Independent View of the News
Gold soared on Monday; precious metals rallied sharply. Physical gold hit 3337.655, +97.20.
After the first 30 minutes of NYSE trading Berkshire was -6.21% on Buffett’s yearend retirement.
April ISM Services Index 51.6; 50.2 expected; 50.8 prior. Prices Paid 65.1; 61.4 expected; 60.9 prior New Orders 52.3; 50.3 expected; 50.4 prior Employment 49; 47.1 expected; 46.2 prior
April S&P Global US Services PMI 50.8; 51.2 expected; 51.4 prior Composite PMI 50.6; 51.2 expected; 51.2 prior
CME Group Interest Rates @Interest_Rates: SOFR (Secured Overnight Financing Rate) Dec25 vs. Dec26 (Z5Z6) spread hits new low of -38 as rate cut expectations move further out the curve. https://x.com/Interest_Rates/status/1919405814776791254
Treasury Secretary Bessent: Trump tax legislation to restore 100% expensing for equipment, expand full expensing to factory construction, provide tax credits, deductions for research and innovation.
ESMs opened moderately lower on Sunday night and continued to fall until they hit 5660.25 at 21:58 ET. After a bounce to 568.50 at 2:41 ET, ESMs sank to a daily low of 5655.25 at 4:54 ET. After a 13-handle rebound, ESMs traded sideways until they formed a double bottom at 9:52 ET. ESMs then rallied to 5692.25 at 11:22 ET. Liquidation for the 11:30 ET European close sank ESMs to 5677.25 at 11:39 ET.
With Old World liquidation pressure over, ESMs rallied to 5698.00 at 12:50 ET. ESMs then persistently rallied until they hit the daily high of 5706.25 at 14:40 ET. Once again, traders discovered that there are few organic buyers in the market. So, ESMs tumbled to 5666.00 at 16:05 ET.
Positive aspects of previous session The DJIA was positive for most of the session.
Negative aspects of previous session ESMs sank during the last 90 minutes of NYSE trading; USMs fell as much as -25/32, closed -14/32. The DJTA and the NY Fang+ Index were negative for most of the NYSE session. Gold soared; the dollar declined modestly.
Ambiguous aspects of previous session Will aggressive short covering appear due to China’s trade signals?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5656.08 Previous session S&P 500 Index High/Low: 5676.82; 5634.48
AP: Trump admin… says it will pay immigrants in the United States illegally $1,000 to go home.
Trump calls Mexico president ‘afraid of the cartels’ after she turned down troops offerhttps://trib.al/8HpHcYl
CNN roasted for interviewing Sinaloa Cartel gangster, asking how he felt about Trump labeling him a terrorist – The gangster — who heavily shielded his identity with a face covering, sunglasses and even latex gloves — responded: “Well, the situation is ugly but we have to eat.”… The outlet was immediately ridiculed on social media with many accusing the reporter of trying to bait the gangbanger into giving a Trump-bashing answer… “CNN is in full meltdown mode. All their usual smear tactics have failed—again. So what’s their next brilliant move? Interviewing the freaking Sinaloa Cartel,” one person posted on X. “They were clearly hoping for a “Trump is evil” soundbite. Instead? Total backfire.” “Not the answer the Communist News Network wanted,” another X user said mockingly… https://nypost.com/2025/05/05/us-news/cnn-roasted-for-interviewing-sinaloa-cartel-gangster-asking-how-he-felt-about-trump-labeling-him-a-terrorist/
After the close, tech darling Palantir reported EPS of 0.07 and Adj EPS of .13 and revenue of $883.9b, $862.9B expected. It sees Q2 revenue of $943m to $938m, $904m consensus; FY2025 revenue guidance to 36% y/y and US commercial revenue guidance to 68% y/y. PLTR surged 5.1% but sank to -9.5%. The Street was looking for sharply higher guidance than what they published (consensus figures).
Also, after the close, Ford Pulls Outlook, Sees $1.5 Billion Hit from Trump Tariff – BBG 16:23 ET This probably the cause of the late tumble. Once again, someone traded on nonpublic information. Ford reported EPS of .14, 0.2 expected; Sales of $37.42B, $36.2B consensus. F fell as much as 3.2%.
Today – Though the S&P 500 Index 9-session winning streak ended on Monday, it is still grossly overbought on a short-term basis. The Fed Week rally usually boosts stocks into the release of the FOMC Communique or the ensuing Fed Chair press conference.
The most likely course of action today would be for stocks to retrench before there is enough zest to begin the Fed Day rally. Ford and Palantir should weigh on stocks in early NYSE trading.
ESMs are -9.50; NQMs are -76.25; USMs are -2/32 at 20:45 ET.
Expected econ data: March Trade Balance -$136.7B
S&P Index 50-day MA: 5575; 100-day MA: 5793; 150-day MA: 5820; 200-day MA: 5746 DJIA 50-day MA: 41,244; 100-day MA: 42,479; 150-day MA: 42,721; 200-day MA: 42,222 (Green is positive slope; Red is negative slope)
S&P 500 Index (5650.38 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 and MACD are positive – a close below 5430.16 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5608.05 triggers a sell signal
@townhallcom: President Trump: “You people treat us so badly. Wall Street Journal has truly gone to hell. Rotten newspaper. You hear me, what I said: It’s a rotten newspaper. I don’t want to talk to the Wall Street Journal. Wall Street Journal is China-oriented.”https://x.com/townhallcom/status/1919186551898071275
Biden deportation data inflated by ‘turnarounds’ at border, a stat that now masks Trump success It turns out that the dataset from the Biden era was inflated by counting as “deported” those stopped from entry and turned around. The Trump administration appears to be removing illegal aliens from the country’s interior at a higher rate than Biden during its record-breaking FY2024. https://justthenews.com/politics-policy/biden-admin-deportation-numbers-sleight-hand-covers-increased-ice-removal-rate
The IDF pounded Houthi positions in Yemen on Monday. Netanyahu warned Hamas that if hostages are NOT released by the end of Trump’s May 14 meeting with Gulf state leaders in Saudi Arabia and his May 15 visit with Abu Dhabi President Mohammed Bin Zayed, Gaza will be invaded.
@Osint613: Netanyahu: The upcoming offensive in Gaza will be powerful and focused on defeating Hamas. Gaza residents will be evacuated for their protection during the operation.
@DesireeAmerica4: Former HUD official Catherine Austin Fitts just dropped a bombshell on The Tucker Carlson Show. She claims that $21 trillion in unaccounted U.S. government spending has been quietly funneled into the construction of underground cities and bunkers for the elites — designed to protect them in the event of catastrophic disasters. These facilities, according to Fitts, are not just bunkers, but vast, interconnected cities possibly supported by advanced, undisclosed energy technologies. … She alleges the spending trail was intentionally buried through black budget operations across federal departments — masked under national security protections. No mainstream media coverage. No Senate inquiry. Just trillions missing and the silence that comes with it. Ask yourself, what are they building down there? And why aren’t we allowed to know? The audit never came. But the truth is starting to leak out.https://x.com/DesireeAmerica4/status/1919426004889505859
harveyorganblog.com 
