GOLD CLOSED UP $80.90 TO $3,372.85

SILVER CLOSED UP $1.58 TO $34.53

 GOLD ACCESS CLOSED $3380.25

Silver ACCESS CLOSED: $34.71

TONIGHT FINISHES OPTION EXPIRY FOR THE COMEX//AND THUS THE REASON FOR THE RAID//FRIDAY IS OPTIONS EXPIRY FOR THE LONDON/OTC OPTIONS

Bitcoin morning price:$104,370 DOWN 390 DOLLARS.

Bitcoin: afternoon price: $104,410 DOWN 340 DOLLARS

Platinum price closing UP $3.55 TO $1062.75

Palladium price; UP $19.75 TO $989.25

END

*CANADIAN GOLD: $4,633.27 UP 119.20 CDN dollars per oz( * NEW ALL TIME HIGH $4735.70 CDN DOLLARS PER OZ//APRIL 21 2025)

*BRITISH GOLD: 2495.33 UP 50.98 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING//2,566.50 BRITISH POUNDS/OZ) MAY 6/2025

*EURO GOLD: 2954.50 UP 57.20 Euros per oz //* (ALL TIME CLOSING HIGH: 3018.80 EUROS PER OZ/ APRIL 21 //2025)

DONATE

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: JUNE 2025 COMEX 100 GOLD FUTURES
SETTLEMENT: 3,288.900000000 USD
INTENT DATE: 05/30/2025 DELIVERY DATE: 06/03/2025
FIRM ORG FIRM NAME ISSUED STOPPED

---

013 H JUMP TRADING 1
072 C GOLDMAN 5
072 H GOLDMAN 7
099 H DEUTSCHE BANK AG 483
118 C MACQUARIE FUTURES US 36
167 C MAREX 35
190 H BMO CAPITAL MARKETS 110
323 C HSBC 147
357 C WEDBUSH SECURITIES 4
363 H WELLS FARGO SECURITI 39
555 C BNP PARIBAS SEC CORP 38
624 H BOFA SECURITIES 66
661 C JP MORGAN SECURITIES 1323 815
686 C STONEX FINANCIAL INC 2
690 C ABN AMRO CLR USA LLC 5 6
709 C BARCLAYS 264
905 C ADM 22

---

TOTAL: 1,704 1,704
MONTH TO DATE: 16,977

JPMORGAN STOPPED 8394/15,273

JUNE

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024: 1607 CONTRACTs NOTICES FOR 160,700 OZ  or 4.998 TONNES

total notices so far: 16,977 contracts for 1,697,700 OR 52.806 tonnes)

FOR JUNE

XXXXXXXXXXXXXXXXXX

SILVER NOTICES: 356 NOTICE(S) FILED FOR 1.780 MILLION OZ/

total number of notices filed so far this month : 2173 CONTRACTS (NOTICES) for 10.865 million oz

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

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 $80.90 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD:

NO CHANGES IN GOLD INVENTORY AT THE GLD:

INVENTORY RESTS AT 930.20 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $1.58 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: //A DEPOSIT OF 0.773 MILLION OZ INTO THE SLV//

CLOSING INVENTORY RESTS AT:

CLOSING INVENTORY: 459.876 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 1481 CONTRACTS TO 147,836 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS  HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR LOSS OF $0.36 IN SILVER PRICING AT THE COMEX WITH RESPECT TO FRIDAY’S TRADING.  WE HAD A HUGE SIZED LOSS OF 1331 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A 150 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS COMEX TRADING COMBINED WITH MONTH END SPREADER LIQUIDATION WITH RESPECT TO FRIDAY’S TRADING 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 SUCCEEDED ON FRIDAY WITH SILVER’S LOSS IN PRICE AS THE PRICE IS STILL WELL BELOW THE MAGIC NUMBER OF $34.40 SILVER SPOT PRICE. . BUT THIS WAS COUPLED WITH ANOTHER FAIR T.A.S. ISSUANCE OF 392 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  150 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR GOOD 392 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN MONDAY’S TRADING/ AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE LOST A HUGE SIZED 1191 CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSS IN PRICE OF $0.36. 

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 WERE 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 FRIDAY NIGHT/SATURDAY MORNING: A GOOD 392 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY  $0.36) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SILVER LONGS FROM THEIR PERCH

WE HAD A 150 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 9.90 MILLION OZ FOLLOWED BY TODAY’S 1.565 MILLION OZ QUEUE JUMP//NEW TOTAL STANDING 11.465 MILLION OZ!!

THUS:

INITIAL STANDING FOR JUNE: 9.90 MILLION OZ PLUS 1.565 MILLION OZ QUEUE JUMP = 11.465 MILLION OZ.

WE HAD:

/ HUGE COMEX OI LOSS+// A 150 SIZED  EFP ISSUANCE (/ VI)   GOOD SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 392 CONTRACTS)

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED A SMALL 140 CONTRACTS.

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

TOTAL CONTRACTS for 1 DAY(S), total 150 contracts:   OR 0.750 MILLION OZ  (150 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  0.75 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: 28.975 MILLION OZ (ISSUANCE WILL BE QUITE SMALL THIS MONTH)

JUNE: 0,75 MILLION OZ (NOTICE EFP ISSUANCE GETTING SMALLER AND SMALLER AS CENTRAL BANKS EXERCISE THESE AND TAKE DELIVERY)

XXXXXXXXXXXXXXXXXXXXXXXXXXXX

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1481 CONTRACTS WITH OUR LOSS IN PRICE OF $0.36 IN SILVER PRICING AT THE COMEX// FRIDAY.,.  . THE CME NOTIFIED US THAT WE HAD A 150 CONTRACT EFP ISSUANCE  CONTRACTS: 150 ISSUED FOR JULY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX TO LONDON  AS FORWARDS. 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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 MAY:

NEW STANDING FOR MAY REDUCES TO: 75.615 MILLION OZ. (INCLUDES 5,000 OZ EFP TRANSFER TO LONDON + 12.93 MILLION OZ EXCHANGE FOR RISK ISSUANCE/PRIOR.//NEW TOTAL STANDING 88.540 MILLION OZ

AND NOW JUNE: 9.90 MILLION OZ PLUS 1.565 MILLIONOZ QUEUE JUMPING = 11.465 MILLION OZ

THE NEW TAS ISSUANCE FRIDAY NIGHT   (392 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND FOR SURE TODAY’S TRADING (MONDAY TRADING) AND BEYOND.

WE HAD 356 NOTICE(S) FILED TODAY FOR 1.780 MILLION OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL. IT IS NOW TIME FOR THE FBI TO ENTER THE COMEX AND ARREST THESE CROOKS EVEN THOUGH THE MAJORITY OF THE TRADING IS GOVERNMENT. THE BANKERS ARE COMPLICIT

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A STRONG SIZED 13,818 OI CONTRACTS  TO 408,787 AND FURTHER FROM 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 AN EXTREMELY 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 MONSTER 2189 CONTRACTS //.

WE HAD A STRONG SIZED DECREASE  IN COMEX OI (13,818 CONTRACTS) . THIS OCCURRED DESPITE OUR LOSS OF $27.10 IN PRICE// FRIDAY///.

MAY: SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:

INITIAL STANDING FOR MAY: 70.174 TONNES OF GOLD TO WHICH WE ADD 1. MONDAY’S (MAY 19) 6.221 TONNES EXCHANGE FOR RISK , 2. THEN WE ADD: 1.35 TONNES TO LAST WEEK”S. THEN WE ADD 3. 1.55 TONNES TO EQUAL 9.591 TONNES// NEW EXCHANGE FOR RISK = 9.591 TONNES WHICH MUST BE ADDED TO OUR NORMAL DELIVERY SCHEDULE OF 80.644 TONNES. THUS STANDING FOR MAY INCREASES TO 90.235 TONNES OF GOLD

JUNE CONTRACT MONTH

/ WE HAD A  $27,10 LOSS IN PRICE  WITH RESPECT TO FRIDAY’S COMEX ///. WE HAD A STRONG SIZED LOSS OF 11,179 OI CONTRACTS (34.77 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 DURING THE FIRST THREE WEEKS OF MAY, AND THROUGHOUT EACH AND EVERY DAY MAJOR TENDERING FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE! THE RESULT: A SMALLER THAN EXPECTED AMOUNT OF GOLD STANDING FOR DELIVERY FOR THE JUNE CONTRACT MONTH….. A SMALLISH 62.534 TONNES TO WHICH WE ADD TODAY’S QUEUE JUMP OF 2.703 TONNES//NEW STANDING 65.511 TONNES!!. CENTRAL BANKERS ARE NOW WAITING PATIENTLY FOR THEIR DELIVERY OF GOLD VIA SLOW MOVING SHIPS.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 450 CONTRACT:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 408,787/NOW AT THE LOW END OF THE SCALE DESPITE THE HIGH PRICE OF GOLD!! THIS SHOULD BE CLOSE TO ITS NADIR. (THE PREVIOUS LOW RECORDED WAS 390,000 OI WHEN GOLD WAS $250.00)

SILVER ALSO HAS A LOW COMEX OI OF 147,979 CONTRACTS!!

IN ESSENCE WE HAVE A STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 13,368 CONTRACTS  WITH 13,368 CONTRACTS DECREASED AT THE COMEX// AND A SMALL SIZED 450 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 11,179 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALL SIZED AND CRIMINAL 943 CONTRACTS

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS 450 CONTRACT) ACCOMPANYING THE STRONG SIZED DECREASE IN COMEX OI OF 13,818 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 11,179 CONTRACTS..WE HAVE 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT  ,2.) WEAK INITIAL STANDING FOR GOLD FOR JUNE AT 62.524TONNES FOLLOWED BY TODAY’S 2.703 TONNES QUEUE JUMPING//NEW STANDING 65.511 TONNES./

NEW STANDING FOR GOLD, JUNE CONTRACT INITIALLY AT 65.511 TONNES OF GOLD.

.

 / 3) HUGE T.A.S. LIQUIDATION COUPLED WITH MONTH END SPREADER LIQUIDATION , AS WE HAD 1)A  $27,10 COMEX PRICE LOSS.. WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED DESPITE THAT LOSS IN PRICE AS WE HAD A STRONG LOSS OF 13,368 CONTRACTS ON OUR TWO EXCHANGES (ALL SPREADERS)// /./ ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED FRIDAY 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 BUT SMALLER FOR JUNE!

  4) HUGE SIZED COMEX OI LOSS// 5)  SMALL SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER (450 CONTRACTS)/// SMALL T.A.S.  ISSUANCE: 943 T.A.S.CONTRACTS//

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

JUNE INITIAL

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

TOTAL EFP CONTRACTS ISSUED: 450 CONTRACTS OR 45,000 OZ OR 1.39 TONNES IN 1 TRADING DAY(S) AND THUS AVERAGING: 450 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 1 TRADING DAY(S) IN  TONNES  1.39 TONNES

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

THUS EFP TRANSFERS REPRESENTS  1.39 TONNES DIVIDED BY 3550 x 100% TONNES = 0.039% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

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

MARCH:.   276.50 TONNES (STRONG AGAIN/

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

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

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

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

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

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

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

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

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

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

FEB: 151.61 TONNES/FINAL

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

APRIL: 197.42 TONNES

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

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

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

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

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

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

DEC. 213.704 TONNES. A STRONG MONTH//

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

2024 AND 2025:

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

FEB’24: 201.947 TONNES

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

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

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

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

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

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

SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END JUST SHORT OF THE 3RD HIGHEST ISSUANCE EVER RECORDED.

OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)

NOV: 393.875 TONNES ( A HUGE MONTH////NOW SURPASSED THE PREVIOUS 3RD AND 2ND HIGHEST EVER RECORDED EX FOR PHYSICAL ISSUANCE TO BECOME THE 2ND HIGHEST EVER RECORDED

DEC 360.03 TONNES THIRD HIGHEST EVER RECORDED FOR EFP ISSUANCE

TOTAL 2024 YEAR. 3,597.846 TONNES

JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)

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

MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.

APRIL; 208.57 TONNES. STILL A SMALL TO FAIR ISSUANCE FOR THE MONTH.

MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH

JUNE: 1.39 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW  ACTIVE FRONT MONTH OF APRIL. WE ARE NOW INTO THE SPREADING OPERATION OF  GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE  NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF FEB., FOR  GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS  account  (trade at settlement).  They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle  of the  front delivery month cycle. They unload the sell side of the equation, two months down the road.  The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A HUGE SIZED 1481 CONTRACTS OI  TO 147,836 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 450 CONTRACTS

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

JULY 150 and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 150 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI LOSS OF 1341 CONTRACTS AND ADD TO THE 150 E.FP. ISSUED

WE OBTAIN A HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1368  CONTRACTS WITH THE LOSS IN PRICE OF $0.36 THE RATS ARE FLEEING THE ARENA.

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES  TOTALS 5.955 MILLION PAPER OZ

 OCCURRED WITH OUR  $0.36 LOSS  IN PRICE.

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS

ASIAN MARKETS THIS MORNING:

SHANGHAI CLOSED DOWN 15.96 PTS OR 0.47%

//Hang Seng CLOSED DOWN 131.80 PTS OR 0.57%

// Nikkei CLOSED DOWN 494.42 PTS OR 1.30% //Australia’s all ordinaries CLOSED DOWN 0.26%

//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1998 OFFSHORE CLOSED DOWN AT 7.2106/ Oil UP TO 63.30 dollars per barrel for WTI and BRENT UP TO 65.04 Stocks in Europe OPENED ALL RED

ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1998 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.2106 AGAINST US DOLLAR/ AND THUS WEAKER

END

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A STRONG SIZED 13,368 CONTRACTS TO NO DOUBT ITS ABSOLUTE LOW OF 410,976 WITH OUR LOSS IN PRICE OF $27.10 WITH RESPECT TO FRIDAY’S // TRADING. WE LOST ZERO NUMBER OF NET LONGS WITH THAT PRICE LOSS FOR GOLD. AND AS YOU WILL SEE BELOW, OUR LOSS IN PRICE ALSO HAD A SMALL NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (460 ). THE ENTIRE LOSS OF OI WAS DUE TO MONTH END SPREADERS COMBINING WITH T.A.S. SPREADERS.

THE CME ANNOUNCED FRIDAY NIGHT,  A ZERO EXCHANGE FOR RISK CONTRACT ISSUANCE FOR 0 OZ OR NIL TONNES. TOTAL ISSUANCE FOR MAY REMAINS AT 9.591 TONNES OF GOLD AND THIS TOTAL WILL BE ADDED TO OUR NORMAL DELIVERIES. THE BANK OF ENGLAND MUST BE GETTING QUITE ANTSY OF GETTING ITS GOLD BACK.

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 FIVE 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:

1. THE BANK OF ENGLAND
2. 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:

WE CONCLUDED APRIL WITH 7 ISSUANCE OF EXCHANGE FOR RISK FOR A TOTAL TONNAGE OF 8.3571 TONNES.

MAY: 3 EX. FOR RISK ISSUED SO FAR FOR 3025 CONTRACTS OR 302,500 OZ OR 9.4054 TONNES. THIS WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US TOTAL STANDING FOR MAY!THIS IS THE 6TH CONSECUTIVE MONTH FOR ISSUANCE OF EXCHANGE FOR RISK//NEW TOTAL EX FOR RISK IS 9.591 TONNES FOR THE 3 ISSUANCE!

JUNE: ZERO ISSUED SO FAR!!

DETAILS ON JUNE COMEX MONTH//INITIAL

IN TOTAL WE HAD A VERY STRONG SIZED LOSS ON OUR TWO EXCHANGES OF 13,368 CONTRACTS WITH OUR LOSS IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON FRIDAY 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 MAY, CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY ALTHOUGH THE T.A.S. ISSUANCES IN GOLD HAVE GENERALLY BEEN ON THE LOW SIDE COMPARED TO SILVER WHICH HAVE BEEN HUGE. TODAY’S NUMBER IS SMALL AS THE CME NOTIFIES US THAT THEY HAVE ISSUED A SMALL 943 T.A.S.

THE T.A.S. LIQUIDATION OF THESE T.AS. CONTRACTS(ALONG WITH MONTH END SPREADERS) 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 WITH FINAL STANDING AT 90.23 TONNES. HOWEVER JUNE WHICH IS NORMALLY A HUGE DELIVERY MONTH , INITIAL STANDING IS RECORDED AT 62.534 TONNES PLUS 2.703 TONNES QUEUE JUMPING = 65.511 TONNES. (IS THE COMEX RUNNING OUT OF GOLD?)

NEW TOTAL TONNES STANDING JUNE: 65.511 TONNES

THE FED IS THE OTHER MAJOR SHORT OF AROUND 5+ 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 223 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 SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A SMALL SIZED 450 EFP CONTRACT WAS ISSUED: :  /AUGUST  2854 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 450 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.

WE HAD :

1. ZERO LIQUIDATION OF OUR T.A.S. SPREADERS
2. ZERO NET SPEC LIQUIDATION WITH OUR HUGE GAIN IN PRICE

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 SATURDAY MORNING//FRIDAY NIGHT WAS A SMALL SIZED, 943 CONTRACTS.  

THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR OTHERWISE LIKE TODAY, ACCOMPLISHES TWO IMPORTANT ASPECTS FOR OUR CROOKS:

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

MECHANICS OF T.A.S CONTRACTS/DECEMBER THROUGH MARCH, APRIL MAY AND JUNE

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.THIS WAS SURELY IN EVIDENCE IN TRADING FRIDAY WITH THE HUGE LOSS IN OI RECORDED.

STANDING LAST 6 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: FINAL STANDING 90.235 TONNES WHICH INCLUDES QUEUE JUMPING AND 9.591 TONNES EX FOR RISK.

JUNE: INITITAL STANDING 62.534 TONNES PLUS 2.703 TONNES QUEUE JUMPING = 65.511 TONNES (0 EX FOR RISK)

TOTAL SO FAR THIS YEAR: 803.554 TONNES

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 52 MONTHS OF 2021-2025:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022: STANDING FOR GOLD/COMEX

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:STANDING FOR GOLD/COMEX

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

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

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

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

SEPT: 15.281 TONNES FINAL

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

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

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

TOTAL 2023 YEAR : 436.546 TONNES

2024/STANDING FOR GOLD/COMEX

JAN ’24.      22.706 TONNES

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

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

APRIL: 2024: 53.673TONNES FINAL

MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325

JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

JULY: 11.692 TONNES

AUGUST 69.602 TONNES//FINAL STANDING

SEPT. 13.164 TONNES.

OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES

NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES

DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES  EQUALS 95.1066 TONNES

total year 2024: 540.30 tonnes

COMEX GOLD TRADING/JUNE CONTRACT MONTH

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $27,10/ /) BUT THEY WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A HUGE SIZED LOSS IN OI FROM TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD HUGE T.A.S. SPREADER LIQUIDATION COMBINED WITH MONTH END SPREADER LIQUIDATION FRIDAY AS THEY ARE STILL TRYING TO QUELL GOLD’S ATTEMPT AT FURTHER INCREASES ABOVE THE MAGIC $3,400 BARRIER AND STOP HUGE COMEX/OTC DERIVATIVE LOSSES FROM EXPLODING

SATURDAY MORNING/FRIDAY NIGHT

THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL FRIDAY EVENING/SATURDAY 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 /JUNE 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 FOR THE MONTH OFAPRIL//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 NOW TOTALS 3 ISSUANCES FOR 308,350 OZ. THIS TOTALS 9.591 TONNES OF GOLD WHICH WILL BE ADDED TO OUR REGULAR DELIVERY SCHEDULE. THE RECPIENT OF THIS LARGESS IS THE BANK OF ENGLAND.

JUNE ISSUANCE: SO FAR ZERO

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

ANALYSIS JUNE DELIVERY MONTH GOING FROM FIRST DAY NOTICE// JUNE COMEX CONTRACT

WE HAVE LOST A STRONG SIZED TOTAL OF 34.77 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR JUNE FIRST RECORDED AT 62.534 TONNES ON FIRST DAY NOTICE/MAY 30. TO THIS WE ADD FRIDAY NIGHT’S QUEUE JUMP OF 86,900 OZ OR 2.703 TONNES OF GOLD//NEW STANDING FOR JUNE GOLD ADVANCES TO 65.511.

ALL OF THIS QUITE SMALL STANDING FOR JUNE WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $22.35

WE HAD A MONSTER 3966 CONTRACTS REMOVED TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.

NET LOSS ON THE TWO EXCHANGES 13,368 CONTRACTS OR 1,336,800 0Z (41.58 TONNES)

confirmed volume FRIDAY 194,287. contracts: small volume////

//speculators have left the gold arena

END

JUNE 2

INITIAL

JUNE CONTRACT MONTH

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	5 entries a) Out of Asahi 64,334.151 oz (2001 kilobars) b) Out of Brinks 138,697.460 oz 3414 kilobars c) Out of Brinks enhanced: 74,395.460 ox (186 good london delivery bars d) Out of Loomis: 64.302 oz (2 kilobars e) Out of JPMorgan enhanced: 162,097.880 oz* 405 good London delivery bars) total weight withdrawal 439,589.223 oz or 13.67 tonnes           .
Deposit to the Dealer Inventory in oz	0 ENTRIES
Deposits to the Customer Inventory, in oz	NIL xxxxxxxxxxxxxxxxI
No of oz served (contracts) today	1607 notice(s) 160,700 OZ 4.998 TONNES
No of oz to be served (notices)	4085 contracts   408,500 OZ 12.706 TONNES
Total monthly oz gold served (contracts) so far this month	16,977 notices 1,697,700 oz 52.806 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month

dealer deposits: 0 entry

xxxxxxxxxxxxxxxxxxxxx

DEPOSITS/CUSTOMER

we have 0 customer entries

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

withdrawals: 5 entries

5 entries

a) Out of Asahi 64,334.151 oz (2001 kilobars)
b) Out of Brinks 138,697.460 oz 3414 kilobars
c) Out of Brinks enhanced: 74,395.460 ox (186 good london delivery bars
d) Out of Loomis: 64.302 oz (2 kilobars
e) Out of JPMorgan enhanced: 162,097.880 oz* 405 good London delivery bars)

total weight withdrawal 439,589.223 oz or 13.67 tonnes

adjustments: 2//

the first// dealer to customer

a) Asahi: 13,889.232 oz (482 kilobars) oz

second: customer to dealer Malca

b) Malca 111,596.121 oz

AMOUNT OF GOLD STANDING FOR JUNE

THE FRONT MONTH OF JUNE STANDS AT 5692 CONTRACTS FOR A LOSS OF 14,404 CONTRACTS. WE HAD 15,273 CONTRACTS SERVED ON FRIDAY SO QUEUE JUMPING BEGINS IN EARNEST AT 869 CONTRACTS FOR 86900 OZ OR 2.703 TONNES OF GOLD. THIS TOTAL WILL BE ADDED TO OUR INITIAL AMOUNT OF GOLD STANDING AT 62.534 TONNES//NEW STANDING 65.511 TONNES

JULY LOST 226 CONTRACTS TO STAND AT 7004

AUGUST LOST 963 CONTRACTS DOWN TO 316,152

We had 15,273 contracts filed for today representing 1,527,300 oz  

Today, 0 notice(s) were issued from J.P.Morgan dealer and 1323 notices issued from their client or customer account. The total of all issuance by all participants equate to 1704 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 815 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account 

To calculate the INITIAL total number of gold ounces standing for JUNE /2025. contract month, we take the total number of notices filed so far for the month (16,977 X 100 oz ) to which we add the difference between the open interest for the front month of  JUNE (5692 CONTRACTS)  minus the number of notices served upon today  (1607 x 100 oz per contract) equals  2,106,200 OZ  OR 65.511 TONNES to which we add 0 tonnes of gold issued under exchange for risk// totals 65.511 tonnes

thus the INITIAL standings for gold for the JUNE contract month:  No of notices filed so far (16,977 x 100 oz +we add the difference for front month of JUNE (5692 OI} minus the number of notices served upon today (1,607 x 100 oz) which equals  2,106,200 OZ OR 65.511 TONNES + 0 tonnes EX FOR RISK = 65.511 tonnes

TOTAL COMEX GOLD STANDING FOR JUNE.: 65.511 TONNES WHICH IS SMALL FOR THIS NORMALLY ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR. FEBRUARY HAD THE HIGHEST DELIVERY FOR ANY MONTH AND APRIL WAS SECOND..JUNE DID NOT FOLLOW FEB AND APRIL’S LEAD!!

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 2,193,240.283 oz 68.218 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 38,349,604.938 oz  

TOTAL REGISTERED GOLD 21,417,118.667: or 666.163 tonnes

TOTAL OF ALL ELIGIBLE GOLD 16,932,486.269 OZ  

END

REGISTERED GOLD THAT CAN BE SERVED UPON 19,223,878 oz (REG GOLD- PLEDGED GOLD)= 597.94 tonnes //

SILVER/COMEX

THE JUNE 2025  SILVER CONTRACT//INITIAL

JUNE 2

INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	2 withdrawal entries 2 withdrawal entries i) Out of Brinks 302,796.440 oz ii) Out of HSBC 319,183.200 oz total withdrawal 612,979.640 oz
Deposits to the Dealer Inventory	0 entry
Deposits to the Customer Inventory	0 DEPOSIT ENTRIES
No of oz served today (contracts)	356 CONTRACT(S)    (1.789 milllion OZ
No of oz to be served (notices)	120 contract  (0.600 MILLION oz)
Total monthly oz silver served (contracts)	2173 Contracts  (10.865 million oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

0 deposits into dealer accounts

0 entry

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

0 deposit entries//customer side/eligible

0 DEPOSIT ENTRIES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx)

withdrawals: customer side/eligible

2 withdrawal entries

i) Out of Brinks 302,796.440 oz

ii) Out of HSBC 319,183.200 oz

total withdrawal 612,979.640 oz

ADJUSTMENTs 0

JPMorgan has a total silver weight: 214.825million oz/495.895 oz million  or 43.35%

TOTAL REGISTERED SILVER: 158.100 MILLION OZ//.TOTAL REG + ELIGIBLE. 495.395Million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE

silver open interest data:

FRONT MONTH OF JUNE /2025 OI: 476 OPEN INTEREST CONTRACTS FOR A LOSS OF 1504 CONTRACTS. WE HAD 1817 CONTRACTS SERVED ON FRIDAY SO WE GAINED 313 CONTRACTS OR 1.565 MILLION OZ UNDERWENT A MASSIVE QUEUE JUMP IN ORDER TO TAKE DELIVERY OF PHYSICAL SILVER OVER ON THIS SIDE OF THE POND.

JULY LOST 824 CONTRACTS DOWN TO 110,332

AUGUST LOST 65 CONTRACTS TO 394

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 356 or 1.780 MILLION oz

CONFIRMED volume; ON FRIDAY 45,146 extremely poor//

AND NOW MAY DELIVERIES:

To calculate the number of silver ounces that will stand for delivery in JUNE. we take the total number of notices filed for the month so far at 2173 X5,000 oz = 10.865 MILLION oz 

to which we add the difference between the open interest for the front month of JUNE (476) AND the number of notices served upon today (356 )x (5000 oz)

Thus the  standings for silver for the JUNE 2025 contract month:  (2173) Notices served so far) x 5000 oz + OI for the front month of JUNE(476) minus number of notices served upon today (356)x 5000 oz equals silver standing for the JUNE contract month equating to 11.465 MILLION OZ .

 New total standing:  11.465 million oz which is huge for this NON active delivery month of JUNE.

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 156.572million 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

JUNE  WITH GOLD UP $80.90 TODAY// NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 930.20 TONNES

MAY 30  WITH GOLD DOWN $27.10 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 4.59 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 930.20 TONNES

MAY 29  WITH GOLD UP $22.35 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.15 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 925.71 TONNES

MAY 28  WITH GOLD DOWN $5.30 TODAY// NO CHANGES IN GOLD AT THE GLD:/ ///INVENTORY RESTS AT 925.61 TONNES

MAY 27  WITH GOLD DOWN $63.50 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.43 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 922.46 TONNES

MAY 23  WITH GOLD UP $69.70 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 4.01 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 923.89TONNES

MAY 22  WITH GOLD DOWN $15.50 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.72 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 919.88 TONNES

MAY 21   WITH GOLD UP $28.75 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 0.57 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 921.60 TONNES

MAY 20   WITH GOLD UP $51.40 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 2.30 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 921.03 TONNES

MAY 19   WITH GOLD UP $46.65 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.89 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 918.73 TONNES

MAY 16   WITH GOLD DOWN $38.90 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.30 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 927.62 TONNES

MAY 15   WITH GOLD UP $38.80 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.53 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 931.92 TONNES

MAY 14   WITH GOLD DOWN $40.35 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.43 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 936.51 TONNES

MAY 13   WITH GOLD UP $19.85 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.71 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 937.94 TONNES

MAY 12   WITH GOLD DOWN $115.00 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.71 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 937.94 TONNES

MAY 9   WITH GOLD UP $37.50 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 2.01 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 939.68 TONNES

MAY 8   WITH GOLD DOWN $82.60 TODAY// SMALL CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 0.23 TONNES OF GOLD WITHDRAWN FROM THE GLD/ ///INVENTORY RESTS AT 937.67 TONNES

MAY 7   WITH GOLD DOWN $30.30 TODAY// NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 937.96 TONNES

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

GLD INVENTORY: 930.20 TONNES, TONIGHTS TOTAL

SILVER

JUNE 2 WITH SILVER UP $1.58/NO CHANGES AT THE SLV: ././///INVENTORY RESTS AT 459.876 MILLION OZ.

MAY 30 WITH SILVER DOWN $0.36/HUGE CHANGES AT THE SLV: A DEPOSIT OF 2.773 MILLION OZ INTO THE SLV././///INVENTORY RESTS AT 459.876 MILLION OZ.

MAY 29 WITH SILVER UP $0.29/NO CHANGES AT THE SLV////INVENTORY RESTS AT 457.103 MILLION OZ.

MAY 28 WITH SILVER DOWN $0.18/NO CHANGES AT THE SLV////INVENTORY RESTS AT 457.103 MILLION OZ.

MAY 27 WITH SILVER DOWN $0.34/HUGE CHANGES AT THE SLV//A DEPOSIT OF 2.728 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 457.103 MILLION OZ.

MAY 23 WITH SILVER UP $0.38/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.5 MILLION OZ OF SILVER INTO THE SLV/: //INVENTORY AT SLV RESTS AT 454.375 MILLION OZ

MAY 22 WITH SILVER DOWN $0.27/NO CHANGES IN SILVER INVENTORY AT THE SLV:////: //INVENTORY AT SLV RESTS AT 451.875 MILLION OZ

MAY 21 WITH SILVER UP $0.35/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.091 MILLION OZ INTO THE SLV// ////: //INVENTORY AT SLV RESTS AT 451.875 MILLION OZ

MAY 20 WITH SILVER UP $0.65/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.41 MILLION OZ INTO THE SLV// ////: //INVENTORY AT SLV RESTS AT 449.784 MILLION OZ

MAY 19 WITH SILVER UP $0.17/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.819 MILLION OZ OUT OF THE SLV// ////: //INVENTORY AT SLV RESTS AT 447.193 MILLION OZ

MAY 16 WITH SILVER DOWN $0.24/NO CHANGES IN SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 449.193 MILLION OZ

MAY 15 WITH SILVER UP 0.04/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 0.909 MILLION OZ OUT OF SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 449.193 MILLION OZ

MAY 14 WITH SILVER DOWN $0.39/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 0.682 MILLION OZ OUT OF SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 450.102 MILLION OZ

MAY 13 WITH SILVER UP $0.44/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.001 MILLION OZ INTO SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 450.7845 MILLION OZ

MAY 12 WITH SILVER DOWN $0.30/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.001 MILLION OZ INTO SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 450.7845 MILLION OZ

MAY 9 WITH SILVER UP $0.31/NO CHANGES IN SILVER INVENTORY AT THE SLV:NO CHANGE IN SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ

MAY 8 WITH SILVER DOWN $0.16/NO CHANGES IN SILVER INVENTORY AT THE SLV:NO CHANGE IN SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ

MAY 7 WITH SILVER DOWN $0.54/NO CHANGES IN SILVER INVENTORY AT THE SLV: ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ

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

CLOSING INVENTORY 459.876 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

PETER SCHIFF

MATHEW PIEPENBERG

2.ALASDAIR MACLEOD

Central banks are the problem

Doomsters continually warn that commercial banking’s balance sheet leverage could threaten the entire global economy. The systemic danger actually lies with central banks.

Alasdair MacleodJun 1∙Paid

READ IN APP

In this article, I explain why those who warn that the risk of a banking crisis is due to commercial bank behaviour are mistaken. I should point out that during currency collapses, adroit commercial banks do survive — Deutsche Bank survived two currency collapses, the first in the early 1920 and the second in the late 1940s.

It is in government agencies, particularly their central banks, where the real risks lie.

On Saturday, Jamie Dimon said something interesting, tweeted by the Financial Times:

I respect Dimon because he is the ultimate banking insider and when he makes statements such as this it would be foolish not to pay attention. Furthermore, he is saying what I have been warning my Substack followers, and before that at Goldmoney: that bond yields would rise when nearly everyone else was looking for interest rates to decline — and they still are.

It became obvious to me where the US bond market was heading when post-covid the long bond broke its 4 decade downtrend in April 2022:

Only now is the importance of this trend dawning on the wider investing public, with the sustainability of government debt becoming a live issue. This is the first part of what Dimon is saying. The second is that JPMorgan has prepared itself for a US Treasury debt crisis, and the problem lies not with Dimon’s bank but with bank regulators who he says will panic.

As head of the most important US commercial bank, Dimon is followed closely by his rivals. It is a fair bet that if JPMorgan has minimised its exposure to treasury debt, then the other major US banks will have done so as well. It goes a long way to explaining why their holdings are in T-bills maturing in one year or less. Anyway, until the regional banks were caught out holding longer maturities in 2023, it would have been highly unusual for a commercial bank have exposure to maturities longer than a year or two.

Another risk JPMorgan will have been careful to avoid is with banking counterparties through wholesale money markets. This means that interbank lines will be substantially replaced with collateralised repurchase agreements (repos) where counterparty exposure is covered by short-term government debt.

When it comes to lending to non-banks, similar cautions will apply. Collateral cover will be constantly monitored, and JPMorgan will have no hesitation in liquidating it if risk of loss escalates.

Again it is worth pointing out that if the great JPMorgan has derisked its balance sheet, then other commercial banks will have done the same. Obviously, there are some areas of exposure, such as commercial real estate, where there are lingering non-performers. But overall, it seems fair to assume that US commercial banking is reasonably insulated from systemic risk.

The risks are more likely to be in non-banks and central banks. Before addressing central bank problems, it is worth noting that a bond market crisis will also be an equity market crisis. And here there is bank exposure, as the next chart of margin lending illustrates:

In April, debit balances in customer margin accounts amounted to $850,588 million. May’s figures are likely to show a further decline, but it is still a very large number. When a bond market crisis undermines equity values, there will be close to a trillion dollars of forced liquidation imposed onto a falling market.

A far larger problem is the technically bankrupt state of the Fed along with other major central banks. The problem arose through quantitative easing. An apt description is that by cutting interest rates to zero (and in Japan and the Eurozone to negative territory) and then buying bonds at the highest possible prices the Fed, the Bank of Japan, the ECB, and national central banks in the euro system have incurred enormous losses wiping out their equity cushions many time over.

It is commonly believed that this is not a problem, because a central bank can always print more currency. While there is some truth in that, it fails to address the probability of a bond market crisis, where bond yields continue rising because no one wants to buy them and governments refuse to restrain their budget deficits. Suddenly, the Fed and the other major central banks (and we can include the Bank of England in this, even though it is insulated from QE losses by treasury guarantee) will be faced with an impossibility: their monetary levers will become useless.

If they try the Keynesian stimulus route to contain a deteriorating situation, they will simply undermine their own currencies. And if they try to support financial asset values by suppressing interest rates and bond yields, equally their currencies will fail.

I guess that this is what Dimon sees when he says that the regulators (i.e. the Fed and its control mechanisms as backstop) will have the problem, not his bank.

3. CHRIS POWELL AND GATA DISPATCHES

end

4/On LFTV, Andrew Maguire LIVE FROM THE VAULT 225

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

Steel & Aluminum Stocks Soar As Trump Plans Metal Tariffs

Monday, Jun 02, 2025 – 08:30 AM

President Trump announced Friday that steel and aluminum tariffs will double from 25% to 50%, calling the move a cornerstone of his “America First” agenda to revive U.S. manufacturing. The tariffs, set to take effect Wednesday, sparked a sharp rally in U.S. metal stocks in premarket trading as investors bet on stronger domestic production and profits.

Trump visited a U.S. Steel plant near Pittsburgh at the end of last week to promote a pending partnership with Japan’s Nippon Steel, describing the deal as a “planned investment” that would keep the iconic steel plant operating in the U.S. despite foreign involvement. 

He also revealed the increased steel tariffs at the event: 

“I believe that this group of people that just made this investments right now are very happy, because that means that nobody’s going to be able to steal your industry. It’s at 25%, they can sort of get over that fence, at 50% they can no longer get over the fence.”

By early Monday morning in premarket trading, shares of steel and aluminum companies jumped on the tariff news:

• Cleveland-Cliffs: +32.8%
• Nucor: +14%
• Steel Dynamics: +5.9%
• Century Aluminum: +13%
• U.S. Steel: Flat
• Alcoa, Kaiser Aluminum: Flat
• ArcelorMittal: Shares dropped
• Acerinox: Shares jumped

Chart: Cleveland-Cliffs

BMO Capital Markets analyst Katja Jancic told clients that steel and aluminum tariffs led her to upgrade Nucor from market perform to outperform while downgrading Algoma to market perform from outperform — “as the company is a relative tariff loser.” 

“Nucor is executing on a multi-year organic growth plan that should, over time, support higher through-cycle profitability and FCF,” Jancic said. She set Nucor’s price target to $145, implying a 33% increase from the last close. 

Goldman analysts Eoin Dinsmore, Aurelia Waltham, and others provided clients with the understanding that steel and aluminum tariffs increase the chances of copper tariffs:

• President Trump has announced that the steel and aluminium Section 232 tariffs will be doubled to 50% on June 4.
• In March, the S232 aluminium tariff was increased from 10% to 25% and all exemptions to the steel and aluminium tariffs were removed. Since then, the prices that U.S. steel and aluminium consumers pay have risen, with U.S. steel prices now accounting for 100% of the higher tariff[1] and the U.S. Midwest aluminium premium – the price paid on top of the LME price of physical delivery – accounting for ~85%[2] of the current 25% tariff.
• On the investment front, since the tariff increased, the UAE firm Emirates Global Aluminium has announced a $4bn investment in a US-based aluminium smelter with first production scheduled in 2030. No major new steel investments have been announced, but the previously announced major investments from Japan’s Nippon Steel and South Korea’s Hyundai are starting to progress after delays.
• The market expectation is that overseas companies that invest will get some form of tariff relief on current shipments to the U.S., which poses a risk to full tariff pricing.
• If the higher metals tariffs come into effect, and remain in place, the U.S. Midwest aluminium premium would need to rise to around 68-70c/lb from 38c/lb to keep imports flowing. The U.S. spot steel (hot rolled coil) price is now at $888/st[3], up 29% YTD (but down 10% from the March highs). While U.S. steel futures are likely to rally if the new 50% tariff comes into effect, we maintain the view that the full tariff (either the existing 25%, or announced 50%) does not need to be accounted for in spot prices (for now), due to still-high U.S. steel inventories, lacklustre demand, and a relatively low import requirement. Higher prices are also likely to weigh further on U.S. steel demand from the manufacturing sector, which we already expect to contract this year.
• We think the higher metals tariffs lifts the probability a copper import tariff is imposed following the ongoing S232 investigation – which we already thought was underpriced. However, any future U.S. copper investments may come with some form of duty exemption, which could undermine full duty pricing. The Dec-25 U.S. copper price was trading at a 12% ($1,135/t) premium to the London traded global benchmark on Friday, suggesting $1,235/3,605/t upside if a 25/50% tariff is delivered. We therefore reiterate our long Dec-25 COMEX-LME copper arbitrage trade recommendation.

According to Morgan Stanley’s trade data, the U.S. imports about 17% of its steel needs, primarily from Canada, Brazil, and Mexico.

The question now is whether the countries most impacted by Trump’s new metal tariffs will respond in a tit-for-tat effort.

6 CRYPTOCURRENCY NEWS

ASIAN MARKETS THIS MORNING:

SHANGHAI CLOSED DOWN 15.96 PTS OR 0.47%

//Hang Seng CLOSED DOWN 131.80 PTS OR 0.57%

// Nikkei CLOSED DOWN 494.42 PTS OR 1.30% //Australia’s all ordinaries CLOSED DOWN 0.26%

//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1998 OFFSHORE CLOSED DOWN AT 7.2106/ Oil UP TO 63.30 dollars per barrel for WTI and BRENT UP TO 65.04 Stocks in Europe OPENED ALL RED

ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1998 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.2106 AGAINST US DOLLAR/ AND THUS WEAKER

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

ONSHORE YUAN:   CLOSED DOWN TO 7.1998 (CHINESE COMMUNIST PARTY MANIPULATED)

OFFSHORE YUAN: DOWN TO 7.2106 (CCP MANIPULATED)

SHANGHAI CLOSED DOWN 15.96 PTS OR 0.47%

HANG SENG CLOSED UP 131.80 PTS OR 0.57%

2. Nikkei closed DOWN 494.43 PTS OR 1.30%

3. Europe stocks   SO FAR:  ALL RED

USA dollar INDEX UP TO  98,709// EURO RISES TO 1.1423 UP 82 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +1.505//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 142.06…… 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: DOWN OFFSHORE: DOWN

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.53200/Italian 10 Yr bond yield UP to 3.529 SPAIN 10 YR BOND YIELD UP TO 3.122%

3i Greek 10 year bond yield UP TO 3.297

3j Gold at $3258.50 Silver at: 33.33  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 62 /100  roubles/dollar; ROUBLE AT 79.11

3m oil into the 63 dollar handle for WTI and  65 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 142.66// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.505% 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 0.8177 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9342 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: 4.432 UP 2 BASIS PTS…

USA 30 YR BOND YIELD: 4.962 UP 4 BASIS PTS/

USA 2 YR BOND YIELD:  3.916 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 39.19

10 YR UK BOND YIELD: 4.6609 UP 1 PTS

10 YR CANADA BOND YIELD: 3.233 UP 3 BASIS PTS

5 YR CANADA BOND YIELD: 2.826 UP 2 PTS

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

2a New York OPENING REPORT

Futures Slide On Renewed Trade Turmoil As Gold, Oil Spike

Monday, Jun 02, 2025 – 08:33 AM

US equity futures are weaker along with Asian and European markets as the trade war escalates after US and China accused each other of violating the terms of their recent agreements while geopolitical uncertainty weakened investor confidence. As of 8:00am, S&P futures are down 0.3% with Nasdaq futures down 0.5% with Mag7/Semis lower while Cyclicals and Defensives outperform. According to media reports, the pace of China exporting rare earths may be the genesis of the latest trade spat, but Bessent/Hassett suggest Trump/Xi will have a call this week. Separately Trump announced late on Friday he will hike steel tariffs from 25% to 50%, upsetting both Canada and the EU. Pre-mkt, steel stocks are +13 – 25% as autos are under pressure. Meanwhile, geopolitics is also in the picture after the Russia-Ukraine war took a turn for the worse with Ukraine striking targets inside Russian borders. Brent crude oil advanced toward $65 a barrel as OPEC+ hiked production less than some had feared and geopolitical tensions flared. Spot gold soared over $60 to a one-week high as a flare-up in global trade tensions weighs on US assets. The dollar shed 0.4%, extending a run of five consecutive monthly losses. Treasury yields rose across the curve, with the 10-year rate up four basis points to 4.44%. Today’s macro data focus is on ISM-Mfg.

In premarket trading, Magnificent Seven were mostly lower (Apple -0.5%, Alphabet -1.6%, Microsoft -0.3%, Amazon -0.3%, Meta -0.7%, Nvidia -0.5%, Tesla -1.5%). Here are some other notable premarket movers: 

• Boeing Co. shares (BA) rise 1.3% premarket after BofA Global Research upgraded the planemaker to buy from neutral, with analyst Ronald Epstein writing that company’s “aircraft emerged as the favored trade tool for the Trump administration in recent trade deals.”
• Kura Oncology (KURA) advances 4.4% in premarket trading after announcing the US Food and Drug Administration has accepted the pharmaceutical company’s New Drug Application seeking full approval for ziftomenib, according to a company statement.
• Moderna shares (MRNA) are up 4% in premarket trading after the drugmaker won FDA approval for its second-generation Covid vaccine for all adults over 65 and anyone over 12 who has at least one risk factor for severe disease.
• Shares in US steel and aluminum stocks are rallying in premarket trading on Monday as President Donald Trump said he would be increasing tariffs on steel and aluminum to 50% from 25%.
• Tesla shares (TSLA) are down 1.5%, leading Magnificent Seven stocks lower in premarket trading on Monday, along with US stock futures, as global trade tensions and geopolitical uncertainty erode risk appetite.

The latest twists in President Donald Trump’s tariff agenda have heightened market uncertainty, following mutual accusations between the US and China of breaching a trade deal, and Trump’s pledge to double tariffs on all steel and aluminum imports. The tensions have helped stall a rebound in US stocks as traders fear that the instability may persist in the absence of lasting agreements. Meanwhile, Ukraine staged a series of strikes deep inside Russia ahead of peace talks scheduled for Monday in Istanbul.

“Just when we thought the noise around tariffs was quietening down, recent events have shown that investors should take nothing for granted until it is signed and sealed,” said Daniel Murray, chief executive officer of EFG Asset Management in Zurich.

That said, while market volatility is once again picking up amid the latest tensions, strategists say it’s unlikely to match the levels seen during the selloff that followed Trump’s tariff announcement on April 2. Traders now increasingly view such moves as negotiation tactics aimed at securing more favorable terms.

“The sensitivity of investors and of traders toward this tariff news is probably going down a bit,” Max Kettner, chief multi-asset strategist at HSBC Holdings Plc, told Bloomberg TV. “It is primarily a negotiation tool. I don’t have to factor in a persistent drag on earnings, a persistent drag on the earnings outlook.”

Investors will be watching Friday’s nonfarm payrolls report to assess the impact of Trump’s trade policies on the US economy and the outlook for Federal Reserve rate cuts.

“This is a backdrop where markets are increasingly discounting the tariff news,” Laura Cooper, global investment strategist at Nuveen, told Bloomberg TV. “We’re more focused on the extent of economic damage that is potentially going to come through in US data.”

European stocks are also in the red as an escalation in the Russia-Ukraine conflict provides investors with another reason to shun risk assets. The Stoxx 600 is down 0.3% with auto, consumer product and technology shares leading declines. Here are the biggest movers Monday:

• European defense stocks are outperforming as the UK plans to spend £1.5 billion to build six munitions factories, expand its fleet of attack submarines and invest in its nuclear deterrent
• Hensoldt shares jump as much as 11% to a record after JPMorgan upgraded the stock and hiked its price target to a new Street-high, arguing the outlook over the coming years looks very strong for the defense electronics specialist
• JCDecaux rises as much as 2.9% and Stroeer gains 3.7% as Berenberg initiates coverage of both advertising firms with a buy rating, citing upside from the digitalization trend and saying the firms trade at a discount to peers
• Warehouse REIT shares rise as much as 4.8% after the company said it received a final revised offer from Blackstone after the markets closed on Friday
• Telkom rises as much as 7.2% in Johannesburg to its highest intraday level since October 2022 after the telecommunications company said it expects full-year adjusted headline earnings per share from continuing operations to increase by between 95% and 105%
• Raubex rises as much as 9.3% in Johannesburg, the most since March 24, after the construction company’s board found no evidence of any unlawful conduct or ethical impropriety as alleged by an anonymous whistleblower
• Warsaw WIG20 index drops as much as 3.4% in early trading after the nationalist opposition candidate wins Poland’s presidential election
• Sanofi slides after agreeing to buy Blueprint Medicines for at least $9.1 billion as the French drugmaker further expands its rare immunological disease portfolio
• European steel stocks are on the move Monday, after US President Donald Trump announced that he would increase tariffs on steel to 50% from 25%, saying the move would help protect American workers

Earlier in the session, Asian stocks dropped, as risk-off sentiment prevailed amid resurgent US-China trade tensions, with the world’s two largest economies accusing each other of violating their trade deal last month. The MSCI Asia Pacific Index fell as much as 1% before paring losses to 0.2%, with TSMC and Toyota among the biggest drags on the benchmark. Benchmarks in Japan and Taiwan declined more than 1%, while a gauge of Chinese shares trading in Hong Kong slid 0.9%. Markets in mainland China, Thailand and Malaysia were closed for holidays. Trade tensions dialed up again after President Donald Trump said on Friday that China “violated a big part of the agreement” the countries made in Geneva. Meanwhile, Beijing called on the US to immediately correct “discriminatory” measures and uphold the consensus reached in Geneva. Further adding to investor caution are the Trump administration’s plans to broaden restrictions on China’s tech sector, as well as the US president’s announcement that he would hike tariffs on steel and aluminum to 50% from 25%. While such fresh concerns have cooled the recent rally, the key Asian stock benchmark is still up almost 20% from an April low. 

The latest headlines suggest that the Trump administration will “try to regain control of the trade war narrative,” said Charu Chanana, chief investment strategist at Saxo Markets. “We could see some headline-driven volatility, but the impact is unlikely to be sticky. Markets have become relatively desensitized to tariff threats, and with the economy and earnings holding up, underlying fundamentals still provide support.”

In FX, the dollar traded near the lowest level since 2023 after extending losses for the year to 7.6%. Slowing US growth and interest rate cuts will further push the greenback into a tumble to levels last seen during the pandemic, according to Morgan Stanley strategists. “We think rates and currency markets have embarked on sizable trends that will be sustained — taking the US dollar much lower and yield curves much steeper — after two years of swing trading within wide ranges,” they wrote. EUR/USD rallies by 0.8% to 1.1437, highest since April 23. The Scandinavian currencies lead G-10 gains; USD/NOK down 1.2% to 10.0866. GBP/USD +0.7% to 1.3550; figures from Nationwide Building Society showed UK house prices unexpectedly rose in May.

In rates, treasuries are cheaper across the curve with losses led by long-end tenors amid a similar bear-steepening move in core European rates as global trade tensions and geopolitical uncertainty continues to play out across financial markets. US yields are 1.5bp-4bp higher across maturities with 2s10s and 5s30s spreads 1bp-2bp steeper on the day. 10-year around 4.43% is ~3bp cheaper, while 30-year yields are 5 bps higher to 4.98%. Rising oil prices add to upside pressure on yields, after OPEC+ increased production less than expected. European government bonds underperform their US peers, with UK and German 30-year borrowing costs rising some 6 bps each. US session includes manufacturing gauges and remarks by Fed Chair Powell. 

In commodities, WTI crude futures rally 3.5% to near $63 a barrel on a combination of heightened geopolitical tensions and an OPEC+ production increase that was less than some had feared; spot gold soared over $60 to a one-week high as a flare-up in global trade tensions weighs on US assets.

On today’s calendar, US economic data includes May final S&P Global US manufacturing PMI (9:45am New York time), May ISM manufacturing and April construction spending (10am). Fed speaker slate includes Logan (10:15am), Goolsbee (12:45pm) and Powell giving opening remarks at the Board of Governors IF 75th Anniversary Conference (text expected, 1pm).

Market Snapshot

• S&P 500 mini -0.5%
• Nasdaq 100 mini -0.7%
• Russell 2000 mini -0.6%
• Stoxx Europe 600 -0.2%
• DAX -0.4%
• CAC 40 -0.5%
• 10-year Treasury yield +4 basis points at 4.44%
• VIX +1.4 points at 19.93
• Bloomberg Dollar Index -0.5% at 1209.64
• euro +0.8% at $1.1435
• WTI crude +3.5% at $62.9/barrel

Top Overnight News

• China has accused the US of “seriously violating” a trade between the two powers and vowed to take strong measures to defend its interests as tensions reignited over the supply of critical minerals. FT
• Trump could hold a call with Xi as soon as this week in an effort to quell the recent escalation in tensions between the two countries. WSJ
• White House sent a ‘partial’ FY26 budget proposal to Congress, leaving out standard projections.
• Japan’s top trade negotiator Ryosei Akazawa is considering a return to the US for another round of trade negotiations this week. Last week’s talks saw progress toward an agreement, he said, without elaborating. BBG
• The UK will urge Trump to apply an agreed zero-tariff accord to steel, the FT said, after the president vowed on Friday to double levies to 50%. BBG
• Ukrainian drones hit Russian airfields as far away as eastern Siberia, while Moscow launched one of its longest missile and drone attacks. Delegations from each side are set to meet in Turkey today. BBG
• AFP on a source in the Ukrainian delegation to the peace talks in Istanbul: Kiev is ready to take ‘big steps towards peace'”, according to Sky News Arabia
• Britain’s labor market is loosening and “waves of disinflation” may continue, the BOE’s Sarah Breeden told the Sunday Times. UK house prices posted a surprise 0.5% gain in May, Nationwide data showed. BBG
• GE will pass along to consumers some additional charges caused by tariffs. BBG
• Fed’s Waller says tariff policy (so far) hasn’t been as bad as his worst-case scenario, and he signals support for rate cuts later this year (“given my belief that any tariff-induced inflation will not be persistent and that inflation expectations are anchored, I support looking through any tariff effects on near term-inflation when setting the policy rate”). Fed
• The US “is never going to default” on its debt, Scott Bessent told CBS, and declined to specify an “x date” when the Treasury would run out of cash. An increase in the debt limit is included in Trump’s tax bill, which the Senate is due to take up this week. BBG

Trade/Tariff

• US President Trump said he will double US steel and aluminium tariffs from 25% to 50%, effective June 4th.
• US President Trump is finalising an executive order for new restrictions that could effectively end Chinese drone sales to the US, according to the Washington Post.
• US Treasury Secretary Bessent said China is holding back products essential to the industrial supply chain and he believes President Trump will talk to Chinese President Xi very soon, according to a CBS interview. Bessent stated the US will never default on its debt, and they are on the warning track and will never hit the wall.
• China’s Mofcom said China has taken seriously, strictly implemented and actively upheld the consensus reached at the talks with the US in Geneva, while it is firm in safeguarding its rights and interests, and it is honest in implementing the consensus. Mofcom added the US has successively introduced a number of ‘discriminatory restrictive measures’ against China after talks in Geneva and that these practices by the US seriously violate the consensus reached by both sides. It also stated that if the US insists on going its own way and continues to undermine China’s interests, China will continue to resolutely take forceful measures to safeguard its legitimate rights and interests. Furthermore, it urged the US to immediately correct the relevant ‘wrong practices’ and said the US has made ‘groundless accusations’ against China for violating the consensus with China resolutely rejecting these ‘unreasonable accusations’.
• Japan’s tariff negotiator Akazawa plans to visit the US for tariff talks for four days from Thursday, according to Jiji News.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were mostly in the red, albeit to varying degrees, at the start of a new trading month and ahead of this week’s risk events, while trade uncertainty lingered after President Trump announced to double steel and aluminium tariffs to 50% from this Wednesday. ASX 200 was rangebound with the index constrained by weakness in miners and the commodity-related sectors amid trade uncertainty following US President Trump’s latest tariff offensive but with the downside cushioned given the actual boost to underlying commodity prices. Nikkei 225 slumped at the open with headwinds from recent currency strength and after US and Japanese officials met on Friday for trade talks, while Economic Minister Akazawa said the latest round of discussions have them on track towards a deal as early as this month but stated that nothing is agreed until everything is agreed and there was no change in the US stance on tariffs, including those on auto parts, which was regrettable. Hang Seng underperformed amid the closure in the mainland and Stock Connect trade, while participants also reacted to mixed PMI data and recent criticisms between the US and China including from US President Trump who stated that China has violated the deal with the US.

Top Asian News

• BoJ set aside maximum provisions for losses on bond transactions for fiscal 2024 which was increased to 100% for the first time with the provisions raised by JPY 427.7bln.
• Taiwan’s Central Bank warned exporters against currency speculation.

European bourses (STOXX 600 -0.2%) opened entirely in the red following a mostly subdued APAC session; selling pressure briefly exacerbated in early morning trade, but this proved fleeting. Thereafter, the risk tone improved a touch, alongside the release of the EZ PMIs – they were mixed, but with the underlying narrative shown by the metrics as constructive. European sectors opened with a negative bias and have remained subdued throughout the morning. Energy tops the index given the recent surge in oil prices as the complex reacts to the latest OPEC+ decision over the weekend. Consumer Products and Services sits at the foot of the pile, with Luxury doing much of the dragging.
US equity futures are lower across the board, with sentiment in the complex hit following Trump’s decision to double steel import tariffs to 50% and after hawkish rhetoric from the US side on China.

Top European News

• EU is said to be poised to curb China’s access to medical device procurement, according to Bloomberg
• BoE Deputy Governor Breeden highlighted a weakening labour market and slow economic growth, while she stated that “waves of disinflation are continuing” and noted the BoE’s narrative about continuing interest rate cuts was “not a million miles away from where the market is”.
• UK is to build a billion-pound weapons works as UK PM Starmer calls for war readiness.
• US President Trump is to meet with German Chancellor Merz on Friday.
• German Finance Minister Klingbeil is planning a number of corporate tax breaks aimed at spurring investment and lifting the economy out of stagflation, according to DPA.
• Official results showed Polish nationalist candidate Nawrocki won 50.89% of the vote vs 49.11% for pro-EU candidate Trzaskowski. Subsequently, Polish PM Tusk said to consider asking Parliament for a vote of confidence.

FX

• Hefty losses for the dollar so far as the “sell America” trade resumes following the punchy rhetoric seen between the US and China since Friday, alongside Trump upping the blanket steel and aluminium tariffs to 50% from 25%. To recap, the US President on Friday took aim at China in which he noted how they are violating their agreement with the US after Trump dialled back the tariffs on Chinese goods. Traders look ahead to the US ISM Manufacturing data at 15:00 BST followed by a speech by Fed Chair Powell at 18:00 BST. DXY has ventured as low as 98.67 today from a 99.358 high.
• EUR is benefitting from the slide in the Dollar and with strength also emanating from the EUR’s stable status in a “sell America” environment. Aside from that, newsflow for the bloc has been light with no reaction seen to mixed Final Manufacturing PMI data from countries in the region. EUR/USD topped 1.1400 at the time of writing and resides in a 1.1340-1.1436 range at the time of writing.
• JPY is firmer amid the softer US dollar coupled with risk aversion amid Trump upping steel and aluminium tariffs, coupled with the punchy rhetoric between the US and China. USD/JPY resides towards the bottom of a 142.77-144.09 range.
• GBP is another beneficiary of the softer Dollar whilst UK specifics remain light. BoE’s hawk Mann is due for a text release at 15:00 BST. GBP/USD resides towards the upper end of a 1.3455-1.3557 range at the time of writing.
• Antipodeans are the biggest gainers on the dollar weakness and upside in base metals on the back of Trump upping steel and aluminium tariffs to 50% from 25%, with the high-beta pairs unfazed by the downbeat risk tone and New Zealand holiday closure.
• The Polish Zloty initially strengthened on the second round exit poll, which showed Trzaskowski the victor with 50.3% of the vote, following this, he claimed victory in the Presidential election. However, the full vote count showed right-wing Nawrocki was the victor and new Polish President. A result that has hit the PLN.

Fixed Income

• USTs were relatively contained overnight, but into the European session the complex came under pressure. A move that has been relatively pronounced with USTs trimming by just under 10 ticks from overnight levels to a 110-19 base. No clear or overt driver behind this and the move occurred without a broader risk move but was more pronounced in EGBs. Focus today is on US ISM Manufacturing and then Fed Chair Powell thereafter. Note, today’s move has been relatively noteworthy in European hours thus far but the benchmark remains just above Friday’s 110-18 base.
• As mentioned, Bunds also found themselves coming under pressure in the European morning but to a larger extent than USTs. Again, no clear fundamentals behind it as the action has not coincided with PMIs or other updates. Thus far, down to a 130.72 base. While there has not been anything specific behind the EGB pressure the accompanying upside in yields, particularly relative to the US, has led to some modest strength emerging in the EUR and GBP vs the USD.
• Gilts are in-fitting with the above, no reaction to its own PMI being upwardly revised though the 91.16 session low printed around 15 minutes after. Down to a 91.16 base and holding around that mark, last Tuesday’s base at 91.08 the next point to watch and from an events perspective, BoE’s Mann at 15:00 BST is the next catalyst, a text is expected.

Commodities

• Crude complex is boosted amid an as-expected OPEC+ confab on Saturday but also following a few updates from Iran, in which this weekend’s IAEA report was damning towards the nation, whilst Iranian media quoting informed sources suggested the US proposal on the nuclear deal is “imaginary, one-sided and very far from being a fair basis for any possible settlement”. ING suggests “Despite the large increase, oil prices rallied this morning. This could be because there had been suggestions that the group may go for an even larger supply increase”, albeit it’s working, noting most sources flagged the 411k BPD increase for weeks beforehand.
• Firmer trade across precious metals amid the punchy US-Sino rhetoric and Iran-related headline from the weekend. Traders look ahead to the US ISM Manufacturing data at 15:00 BST followed by a speech by Fed Chair Powell at 18:00 BST, whilst risk events towards the end of the week include the US NFP. XAU/USD rose from a USD 3,288.75/oz low to a USD 3,358.79/oz intraday peak at the time of writing, with the 23rd May peak seen at USD 3,365.76/oz.
• Copper futures rallied overnight despite the absence of its largest buyer and the mostly downbeat risk sentiment in the Asia-Pac region, with prices lifted after US President Trump announced late on Friday to double US steel and aluminium prices, with the tailwinds in copper due to potential stockpiling and supply-side concerns.
• OPEC+ members that voluntarily restricted output agreed to a 411k BPD oil production increase in July, as expected, which could be paused or reversed subject to market conditions.

Geopolitics: Middle East 

• “Iranian media quoting informed sources: The US proposal on the nuclear deal is “imaginary, one-sided and very far from being a fair basis for any possible settlement”
• It was reported that an Israeli strike on an aid distribution point operated by a US-based Gaza aid group killed at least 26 in Rafah. However, the Israeli military said initial findings indicated that the army did not fire at Palestinian civilians near or within the humanitarian aid distribution site, while it added that drone footage showed armed and masked individuals opened fire at Gazan civilians attempting to collect looted humanitarian aid in southern Khan Younis.
• Israeli PM Netanyahu said Hamas is continuing its refusal of US envoy Witkoff’s proposal for a Gaza ceasefire, and Israel will continue its action in Gaza for the return of hostages and defeat of Hamas.
• US envoy Witkoff said Hamas’s response to the US proposal is totally unacceptable and only takes us backwards.
• Hamas said it submitted a response regarding US envoy Witkoff’s proposal to mediators and it expressed to immediately start a round of indirect negotiations on points of contention in a Gaza ceasefire deal, while a spokesperson said they have considered US envoy Witkoff’s proposal acceptable for negotiations and that Israel’s response was ‘incompatible’. Furthermore, they have not rejected Witkoff’s ceasefire proposal but stated that Witkoff’s position towards Hamas was unfair and shows complete bias toward Israel.
• White House Press Secretary Leavitt said envoy Witkoff sent a “detailed and acceptable” nuclear deal proposal to Iran and it is in their interests to accept it.
• Iran’s Foreign Minister said his Omani counterpart visited Tehran on Saturday to present the elements of the US proposal for a nuclear deal. In relevant news, Iran said the UN nuclear watchdog is politically motivated and repeats baseless accusations.

Geopolitics: Ukraine

• A bridge collapsed in Russia’s Kursk as a freight train passed, according to the regional governor, while a senior Russian senator said the blowing up of the bridge and derailment of the train in Bryansk indicate that Ukraine has turned into a terrorist enclave. Furthermore, it was reported that Russia’s security service thwarted Ukraine-ordered railway sabotage in the Far East region of Primorye, according to RIA.
• Russian Defence Ministry said Ukraine carried out a terrorist attack using drones against airfields in Murmansk, Ikutsk, Ivanovo, Ryazan and Amur regions, while it stated that all attacks on airfields have been repelled although several aircraft caught fire, according to RIA and Interfax. Furthermore, Ukrainian President Zelensky said the attack on Russian bases was a brilliant operation and their longest-range operation, while he stated that 117 drones were used in the operation and there were very tangible Russian losses.
• Russian Foreign Minister Lavrov discussed the Ukraine settlement and talks with US Secretary of State Rubio, while Rubio expressed condolences to Lavrov over the death in the Russian rail bridge incident.
• Russian Defence Ministry said Russian forces captured Oleksiivka in Ukraine’s Sumy region, while it was separately reported that Ukraine experienced one of the longest barrages from Russian missiles and drones early on Sunday, in which air sirens sounded for more than 9 hours, according to Bloomberg.
• Ukrainian negotiators at peace talks in Istanbul are to propose a roadmap for peace which includes a 30-day ceasefire, release of all POWs, negotiations involving the US and Europe, as well as a meeting between Putin and Zelensky. Furthermore, Ukraine wants reparations, no curbs on its military, no international recognition for territory taken by Russia and with the current front lines to be the starting point for talks, while the framework for Ukrainian terms for peace are largely unchanged from Kyiv’s previous position.
• Meeting between Russian and Ukrainian delegates in Istanbul is expected to take place at 11:00BST/06:00EDT in Ciragan Palace on Monday, according to a Turkish Foreign Ministry source.

Geopolitics: Other

• US Secretary of Defense Hegseth said the US does not seek conflict with China, but Beijing wants to control and dominate the Indo-Pacific, while he added that Beijing is credibly preparing to use force to alter the balance of power in the region and that the threat from China is real and could be imminent.
• China’s Defence Ministry spokesperson said the US is accustomed to using the Shangri-La Dialogue to create disputes, sow discord and seek selfish interests, which China strongly deplores and resolutely opposes. Furthermore, the spokesperson said the US has no right to make irresponsible remarks about the Taiwan issue, let alone use it as a bargaining chip to contain China, while it stated regarding the South China Sea issue that the US is the biggest threat to regional peace and stability.

US Event Calendar

• 9:45 am: May F S&P Global U.S. Manufacturing PMI, est. 52.3, prior 52.3
• 10:00 am: May ISM Manufacturing, est. 49.5, prior 48.7
• 10:00 am: May ISM Prices Paid, est. 69, prior 69.8
• 10:00 am: Apr Construction Spending MoM, est. 0.2%, prior -0.5%

Central Banks (All Times ET):

• 10:15 am: Fed’s Logan Participates in Moderated Q&A
• 12:45 pm: Fed’s Goolsbee Participates in Moderated Q&A
• 1:00 pm: Fed’s Powell Gives Opening Remarks

DB’s Jim Reid concludes the overnight wrap

Two weeks ago was all about fiscal and US debt sustainability, and last week was all about trade again, so what will this week have in store? It’s hard to see past trade at the moment and late on Friday night Trump doubled tariffs on imported steel and aluminium to 50%, starting this Wednesday. It is really hard to keep up or predict what’s going to happen on trade at the moment, and that’s before we factor in the full ramifications from the court ruling last Thursday night, and then subsequent brief stay of execution for them on appeal. For now it seems likely that the tariff uncertainty will linger for a long time ahead even if we’re still likely past the peak aggressiveness of US policy.

Oil might grab some attention today after OPEC+ on Saturday announced that supply would increase for a third month in a row in July where 411,000 barrels will be added. An increase of this magnitude was flagged on the wires on Friday afternoon and there was some prospect of it being higher than this. This morning in Asia, oil futures are +2.85% higher in a relief that the output increase wasn’t higher.

Geopolitics have also been in headlines over the weekend at a defence forum in Singapore (Shangri-La Dialogue) where US Defense Secretary Pete Hegseth’s speech, told its Asia allies it wouldn’t abandon them and also criticised China for not sending a high profile representative from its defence team. Hegseth’s main strand in his speech was that US partners in Asia should boost defense spending towards 5% of GDP as the region should prepare for a potential Chinese invasion of Taiwan. Clearly that hasn’t gone down well with China and comes after Trump accused China on Friday of violating its recent agreements with the US. China have responded this morning by also accusing the US of violating the agreement. So the surprisingly positive agreement between China and the US on tariffs on May 12th now seems a more distant memory.

Talking of China, the official manufacturing PMI came in at 49.5 on Saturday, up from 49 in April and in line with expectations. The non-manufacturing PMI dipped a tenth of a point to 50.3, two-tenths below expectations. This composite PMI edged up to 50.4 from 50.2.

Asian equity markets are lower this morning, with the Hang Seng (-2.20%) leading the declines, followed by the Nikkei (-1.39%), also pressured by a stronger yen. Other regional markets like the S&P/ASX 200 (-0.29%) and KOSPI (-0.31%) are also experiencing losses. Elsewhere, mainland Chinese markets are closed for holidays. S&P 500 (-0.43%) and NASDAQ 100 (-0.62%) futures are also trending lower as we start the new month. 10yr USTs are +2.2bps higher.

The final estimate of the S&P Global Australia Manufacturing PMI indicated a weakening to 51 in May, a decrease from 51.7 in April and the lowest level since February. This marks the second consecutive month of decline, driven by a deceleration in the growth of new orders, which offset a rebound in export demand.

In terms of data this week, we have US payrolls on Friday as the main event but the US manufacturing ISM today and the services equivalent on Wednesday will also be important. We will also get various global PMIs spread across this week. You can see the main ones in the day-by-day calendar at the end as usual. The ECB rate decision on Thursday (25bps cut widely expected – see our preview here), and what the tone suggests going forward, will also be a big focus. The BoC meet on Wednesday (a 25bps cut also expected). May CPI prints are due in the Eurozone, Switzerland (tomorrow) and Sweden (Thursday). Broadcom, which sits just outside the Mag-7, sees their earnings on Thursday and this might give us some latest thoughts on current AI trends.

Given its payrolls week we also have JOLTS (Tuesday) and ADP (Wednesday), with jobless claims (Thursday) of added interest given we saw a small but notable increase last week. For payrolls our economists expect the headline (+125k forecast vs. +177k previously) and private (+125k vs. +167k) gains to slow relative to their trailing three-month averages of 155k and 148k, respectively, with the unemployment rate staying at 4.2%. For the rest of the week ahead see the diary at the end.

Our US economists also flag that the Senate will return to Washington DC this week to begin marking up the “One Big Beautiful Bill Act”. They think it will be interesting to see if the GOP Senators are as eager to make deep cuts to clean energy tax credits and Medicaid as their House counterparts. At the same time, the latest legal developments on the trade front pose risks to tariff revenues. See these reports for more on this. (“US Economic Notes: Tax bill details suggest still-elevated deficits in the near term” and “US Economic Perspectives: The dark matter determining debt stability “).

Recapping last week now and markets were a bit all over the place trying to make sense of where trade policy was headed. The S&P gained +1.88% on the week thanks to a +2.05% gain on Tuesday following a delay to a threatened higher 50% US tariff on the EU, but then treaded water for the rest of the week. Investors initially felt further relief over news that a US court had blocked most of Trump’s tariffs on Wednesday night, but this was very short-lived as the Court of Appeal temporarily left the tariffs in effect while it considers the case and amid reports that the Trump administration is considering alternative measures to implement new tariffs. Meanwhile, in bond markets, the US 10yr yield ended the week down -11.0bps to 4.40% (-1.7bps Friday), as investors returned to treasuries amidst the trade uncertainty as well as a weaker set of US data last Thursday.

The stock market’s resilience was tested last Friday, when Trump claimed that China had violated its trade agreement with the US from May 12, following comments by US Treasury Secretary Bessent the previous day that trade talks with China had stalled. Reports from Bloomberg and the WSJ say that tensions arose from the pace of Beijing lifting its rare earth export licenses. With US Trade Representative Jamieson Greer saying that there are still ongoing efforts to arrange a call between the two presidents, it looks like we may be back in the “waiting for the call” scenario that we were in originally during April and the early weeks of May. This morning’s strong response from China probably reducing the likelihood of that call being imminent.

Performance in Europe was relatively upbeat, with the STOXX 600 rising +0.65% (+0.14% Friday) and the DAX up +1.56% (+0.27% Friday) to a new all-time high amid the partial retreat in tariff concerns. Meanwhile, European rates saw a sizeable curve flattening. 10yr bund yields were -6.7bps lower on the week to 2.50%(-0.7bps Friday), but the 2yr yield rising +1.2bps over the week (+0.7bp Friday) in part following Germany’s May flash inflation print, which came modestly above expectations at +2.1 y/y (vs +2.0 y/y consensus). So while investors are fully pricing in an 25bps rate cut at this week’s ECB meeting, they’re pricing only a little over one further cut for the rest of the year.

2b European opening report

Stocks lower in reaction to Trump doubling steel tariffs, Crude soars post-OPEC+ ahead of US ISM Manufacturing & Powell – Newsquawk US Market Open

Monday, Jun 02, 2025 – 06:42 AM

• US President Trump said he will double US steel and aluminum tariffs from 25% to 50%, effective June 4th.
• US Treasury Secretary Bessent said China is holding back products essential to the industrial supply chain and he believes President Trump will talk to Chinese President Xi very soon, according to a CBS interview.
• Crude soars on OPEC+. OPEC+ members that voluntarily restricted output agreed to a 411k BPD oil production increase in July, as expected, which could be paused or reversed subject to market conditions.
• Chinese Official PMI data over the weekend was mixed, with manufacturing improving as expected but non-manufacturing surprisingly easing, albeit slightly.
• Stocks mostly lower in reaction to Trump’s steel tariffs and US-China commentary; ES -0.5%.
• Dollar in the doldrums as “sell America” trade seemingly back on the table.
• Bearish bias in the fixed complex awaiting ISM Manufacturing and Powell.
• Looking ahead, Canadian & US Manufacturing PMI Finals, ISM Manufacturing, Speakers including BoE’s Mann, ECB President Lagarde, Fed’s Logan, Goolsbee & Powell.

Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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

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

TARIFFS/TRADE

• US President Trump said he will double US steel and aluminium tariffs from 25% to 50%, effective June 4th.
• US President Trump is finalising an executive order for new restrictions that could effectively end Chinese drone sales to the US, according to the Washington Post.
• US Treasury Secretary Bessent said China is holding back products essential to the industrial supply chain and he believes President Trump will talk to Chinese President Xi very soon, according to a CBS interview. Bessent stated the US will never default on its debt, and they are on the warning track and will never hit the wall.
• China’s Mofcom said China has taken seriously, strictly implemented and actively upheld the consensus reached at the talks with the US in Geneva, while it is firm in safeguarding its rights and interests, and it is honest in implementing the consensus. Mofcom added the US has successively introduced a number of ‘discriminatory restrictive measures’ against China after talks in Geneva and that these practices by the US seriously violate the consensus reached by both sides. It also stated that if the US insists on going its own way and continues to undermine China’s interests, China will continue to resolutely take forceful measures to safeguard its legitimate rights and interests. Furthermore, it urged the US to immediately correct the relevant ‘wrong practices’ and said the US has made ‘groundless accusations’ against China for violating the consensus with China resolutely rejecting these ‘unreasonable accusations’.
• Japan’s tariff negotiator Akazawa plans to visit the US for tariff talks for four days from Thursday, according to Jiji News.

EUROPEAN TRADE

EQUITIES

• European bourses (STOXX 600 -0.2%) opened entirely in the red following a mostly subdued APAC session; selling pressure briefly exacerbated in early morning trade, but this proved fleeting. Thereafter, the risk tone improved a touch, alongside the release of the EZ PMIs – they were mixed, but with the underlying narrative shown by the metrics as constructive.
• European sectors opened with a negative bias and have remained subdued throughout the morning. Energy tops the index given the recent surge in oil prices as the complex reacts to the latest OPEC+ decision over the weekend. Consumer Products and Services sits at the foot of the pile, with Luxury doing much of the dragging.
• US equity futures are lower across the board, with sentiment in the complex hit following Trump’s decision to double steel import tariffs to 50% and after hawkish rhetoric from the US side on China.
• Meta (META) is said to be working towards fully automating the ad creation process for brands by end-2026 with the aid of AI technology, according to WSJ citing sources. weighing on sensitive European names such as Publicis
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• Hefty losses for the dollar so far as the “sell America” trade resumes following the punchy rhetoric seen between the US and China since Friday, alongside Trump upping the blanket steel and aluminium tariffs to 50% from 25%. To recap, the US President on Friday took aim at China in which he noted how they are violating their agreement with the US after Trump dialled back the tariffs on Chinese goods. Traders look ahead to the US ISM Manufacturing data at 15:00 BST followed by a speech by Fed Chair Powell at 18:00 BST. DXY has ventured as low as 98.67 today from a 99.358 high.
• EUR is benefitting from the slide in the Dollar and with strength also emanating from the EUR’s stable status in a “sell America” environment. Aside from that, newsflow for the bloc has been light with no reaction seen to mixed Final Manufacturing PMI data from countries in the region. EUR/USD topped 1.1400 at the time of writing and resides in a 1.1340-1.1436 range at the time of writing.
• JPY is firmer amid the softer US dollar coupled with risk aversion amid Trump upping steel and aluminium tariffs, coupled with the punchy rhetoric between the US and China. USD/JPY resides towards the bottom of a 142.77-144.09 range.
• GBP is another beneficiary of the softer Dollar whilst UK specifics remain light. BoE’s hawk Mann is due for a text release at 15:00 BST. GBP/USD resides towards the upper end of a 1.3455-1.3557 range at the time of writing.
• Antipodeans are the biggest gainers on the dollar weakness and upside in base metals on the back of Trump upping steel and aluminium tariffs to 50% from 25%, with the high-beta pairs unfazed by the downbeat risk tone and New Zealand holiday closure.
• The Polish Zloty initially strengthened on the second round exit poll, which showed Trzaskowski the victor with 50.3% of the vote, following this, he claimed victory in the Presidential election. However, the full vote count showed right-wing Nawrocki was the victor and new Polish President. A result that has hit the PLN.
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs were relatively contained overnight, but into the European session the complex came under pressure. A move that has been relatively pronounced with USTs trimming by just under 10 ticks from overnight levels to a 110-19 base. No clear or overt driver behind this and the move occurred without a broader risk move but was more pronounced in EGBs. Focus today is on US ISM Manufacturing and then Fed Chair Powell thereafter. Note, today’s move has been relatively noteworthy in European hours thus far but the benchmark remains just above Friday’s 110-18 base.
• As mentioned, Bunds also found themselves coming under pressure in the European morning but to a larger extent than USTs. Again, no clear fundamentals behind it as the action has not coincided with PMIs or other updates. Thus far, down to a 130.72 base. While there has not been anything specific behind the EGB pressure the accompanying upside in yields, particularly relative to the US, has led to some modest strength emerging in the EUR and GBP vs the USD.
• Gilts are in-fitting with the above, no reaction to its own PMI being upwardly revised though the 91.16 session low printed around 15 minutes after. Down to a 91.16 base and holding around that mark, last Tuesday’s base at 91.08 the next point to watch and from an events perspective, BoE’s Mann at 15:00 BST is the next catalyst, a text is expected.
• Click for a detailed summary

COMMODITIES

• Crude complex is boosted amid an as-expected OPEC+ confab on Saturday but also following a few updates from Iran, in which this weekend’s IAEA report was damning towards the nation, whilst Iranian media quoting informed sources suggested the US proposal on the nuclear deal is “imaginary, one-sided and very far from being a fair basis for any possible settlement”. ING suggests “Despite the large increase, oil prices rallied this morning. This could be because there had been suggestions that the group may go for an even larger supply increase“, albeit it’s working, noting most sources flagged the 411k BPD increase for weeks beforehand.
• Firmer trade across precious metals amid the punchy US-Sino rhetoric and Iran-related headline from the weekend. Traders look ahead to the US ISM Manufacturing data at 15:00 BST followed by a speech by Fed Chair Powell at 18:00 BST, whilst risk events towards the end of the week include the US NFP. XAU/USD rose from a USD 3,288.75/oz low to a USD 3,358.79/oz intraday peak at the time of writing, with the 23rd May peak seen at USD 3,365.76/oz.
• Copper futures rallied overnight despite the absence of its largest buyer and the mostly downbeat risk sentiment in the Asia-Pac region, with prices lifted after US President Trump announced late on Friday to double US steel and aluminium prices, with the tailwinds in copper due to potential stockpiling and supply-side concerns.
• OPEC+ members that voluntarily restricted output agreed to a 411k BPD oil production increase in July, as expected, which could be paused or reversed subject to market conditions.
• Click for a detailed summary

NOTABLE DATA RECAP

• UK S&P Global Manufacturing PMI (May) 46.4 (Prev. 45.1)
• EU HCOB Manufacturing Final PMI (May) 49.4 vs. Exp. 49.4 (Prev. 49.4)
• German HCOB Manufacturing PMI (May) 48.3 vs. Exp. 48.8 (Prev. 48.8)
• French HCOB Manufacturing PMI (May) 49.8 vs. Exp. 49.5 (Prev. 49.5)
• Italian HCOB Manufacturing PMI (May) 49.2 vs. Exp. 49.5 (Prev. 49.3)
• Spanish HCOB Manufacturing PMI (May) 50.5 (Prev. 48.1)
• Swiss Manufacturing PMI (May) 42.1 vs. Exp. 46.5 (Prev. 45.8)
• UK Nationwide House Price MM (May) 0.5% vs. Exp. 0.1% (Prev. -0.6%); YY 3.5% vs. Exp. 2.9% (Prev. 3.4%)
• Swiss Retail Sales YY (Apr) 1.3% (Prev. 2.2%, Rev. 2.1%)
• Swiss GDP QQ (Q1) 0.5% vs. Exp. 0.4% (Prev. 0.2%, Rev. 0.3%); GDP YY (Q1) 2.0% vs. Exp. 1.5% (Prev. 1.5%, Rev. 1.6%)

NOTABLE EUROPEAN HEADLINES

• EU is said to be poised to curb China’s access to medical device procurement, according to Bloomberg
• BoE Deputy Governor Breeden highlighted a weakening labour market and slow economic growth, while she stated that “waves of disinflation are continuing” and noted the BoE’s narrative about continuing interest rate cuts was “not a million miles away from where the market is”.
• UK is to build a billion-pound weapons works as UK PM Starmer calls for war readiness.
• US President Trump is to meet with German Chancellor Merz on Friday.
• German Finance Minister Klingbeil is planning a number of corporate tax breaks aimed at spurring investment and lifting the economy out of stagflation, according to DPA.
• Official results showed Polish nationalist candidate Nawrocki won 50.89% of the vote vs 49.11% for pro-EU candidate Trzaskowski. Subsequently, Polish PM Tusk said to consider asking Parliament for a vote of confidence.

NOTABLE US HEADLINES

• “AFP on a source in the Ukrainian delegation to the peace talks in Istanbul: Kiev is ready to take ‘big steps towards peace'”, according to Sky News Arabia
• Fed’s Waller (voter) said ‘good news’ that rate cuts remain possible later this year and the rate cut view rests on easing inflation, as well as noted that tariffs are on the lower end of the range and a strong economy through April gives the Fed time to see how trade shakes out with tariffs likely to create a one-time price increase Fed can look through. Waller also stated that none of what drove the pandemic inflation surge is in place now and he doesn’t see how tariffs would create persistent inflation, while he added the policy should look at the real side of the economy if inflation is close to the target and noted that the Fed is close to reaching inflation target.
• Fed’s Daly (2027 voter) said April PCE is a good relief but is incomplete as a picture and wants to ensure inflation stays sustainably at 2%. Daly said she sees incoming information as very positive and noted that monetary policy is in a good place, while she is comfortable with the projection for two rate cuts this year.
• White House sent a ‘partial’ FY26 budget proposal to Congress, leaving out standard projections.

GEOPOLITICS

MIDDLE EAST

• “Iranian media quoting informed sources: The US proposal on the nuclear deal is “imaginary, one-sided and very far from being a fair basis for any possible settlement”
• It was reported that an Israeli strike on an aid distribution point operated by a US-based Gaza aid group killed at least 26 in Rafah. However, the Israeli military said initial findings indicated that the army did not fire at Palestinian civilians near or within the humanitarian aid distribution site, while it added that drone footage showed armed and masked individuals opened fire at Gazan civilians attempting to collect looted humanitarian aid in southern Khan Younis.
• Israeli PM Netanyahu said Hamas is continuing its refusal of US envoy Witkoff’s proposal for a Gaza ceasefire, and Israel will continue its action in Gaza for the return of hostages and defeat of Hamas.
• US envoy Witkoff said Hamas’s response to the US proposal is totally unacceptable and only takes us backwards.
• Hamas said it submitted a response regarding US envoy Witkoff’s proposal to mediators and it expressed to immediately start a round of indirect negotiations on points of contention in a Gaza ceasefire deal, while a spokesperson said they have considered US envoy Witkoff’s proposal acceptable for negotiations and that Israel’s response was ‘incompatible’. Furthermore, they have not rejected Witkoff’s ceasefire proposal but stated that Witkoff’s position towards Hamas was unfair and shows complete bias toward Israel.
• White House Press Secretary Leavitt said envoy Witkoff sent a “detailed and acceptable” nuclear deal proposal to Iran and it is in their interests to accept it.
• Iran’s Foreign Minister said his Omani counterpart visited Tehran on Saturday to present the elements of the US proposal for a nuclear deal. In relevant news, Iran said the UN nuclear watchdog is politically motivated and repeats baseless accusations.

RUSSIA-UKRAINE

• A bridge collapsed in Russia’s Kursk as a freight train passed, according to the regional governor, while a senior Russian senator said the blowing up of the bridge and derailment of the train in Bryansk indicate that Ukraine has turned into a terrorist enclave. Furthermore, it was reported that Russia’s security service thwarted Ukraine-ordered railway sabotage in the Far East region of Primorye, according to RIA.
• Russian Defence Ministry said Ukraine carried out a terrorist attack using drones against airfields in Murmansk, Ikutsk, Ivanovo, Ryazan and Amur regions, while it stated that all attacks on airfields have been repelled although several aircraft caught fire, according to RIA and Interfax. Furthermore, Ukrainian President Zelensky said the attack on Russian bases was a brilliant operation and their longest-range operation, while he stated that 117 drones were used in the operation and there were very tangible Russian losses.
• Russian Foreign Minister Lavrov discussed the Ukraine settlement and talks with US Secretary of State Rubio, while Rubio expressed condolences to Lavrov over the death in the Russian rail bridge incident.
• Russian Defence Ministry said Russian forces captured Oleksiivka in Ukraine’s Sumy region, while it was separately reported that Ukraine experienced one of the longest barrages from Russian missiles and drones early on Sunday, in which air sirens sounded for more than 9 hours, according to Bloomberg.
• Ukrainian negotiators at peace talks in Istanbul are to propose a roadmap for peace which includes a 30-day ceasefire, release of all POWs, negotiations involving the US and Europe, as well as a meeting between Putin and Zelensky. Furthermore, Ukraine wants reparations, no curbs on its military, no international recognition for territory taken by Russia and with the current front lines to be the starting point for talks, while the framework for Ukrainian terms for peace are largely unchanged from Kyiv’s previous position.
• Meeting between Russian and Ukrainian delegates in Istanbul is expected to take place at 11:00BST/06:00EDT in Ciragan Palace on Monday, according to a Turkish Foreign Ministry source.

OTHER

• US Secretary of Defense Hegseth said the US does not seek conflict with China, but Beijing wants to control and dominate the Indo-Pacific, while he added that Beijing is credibly preparing to use force to alter the balance of power in the region and that the threat from China is real and could be imminent.
• China’s Defence Ministry spokesperson said the US is accustomed to using the Shangri-La Dialogue to create disputes, sow discord and seek selfish interests, which China strongly deplores and resolutely opposes. Furthermore, the spokesperson said the US has no right to make irresponsible remarks about the Taiwan issue, let alone use it as a bargaining chip to contain China, while it stated regarding the South China Sea issue that the US is the biggest threat to regional peace and stability.

CRYPTO

• Bitcoin is a little firmer and trading around USD 105k whilst Ethereum edges a little lower.

APAC TRADE

• APAC stocks were mostly in the red, albeit to varying degrees, at the start of a new trading month and ahead of this week’s risk events, while trade uncertainty lingered after President Trump announced to double steel and aluminium tariffs to 50% from this Wednesday.
• ASX 200 was rangebound with the index constrained by weakness in miners and the commodity-related sectors amid trade uncertainty following US President Trump’s latest tariff offensive but with the downside cushioned given the actual boost to underlying commodity prices.
• Nikkei 225 slumped at the open with headwinds from recent currency strength and after US and Japanese officials met on Friday for trade talks, while Economic Minister Akazawa said the latest round of discussions have them on track towards a deal as early as this month but stated that nothing is agreed until everything is agreed and there was no change in the US stance on tariffs, including those on auto parts, which was regrettable.
• Hang Seng underperformed amid the closure in the mainland and Stock Connect trade, while participants also reacted to mixed PMI data and recent criticisms between the US and China including from US President Trump who stated that China has violated the deal with the US.

NOTABLE ASIA-PAC HEADLINES

• BoJ set aside maximum provisions for losses on bond transactions for fiscal 2024 which was increased to 100% for the first time with the provisions raised by JPY 427.7bln.
• Taiwan’s Central Bank warned exporters against currency speculation.

DATA RECAP

• Chinese NBS Manufacturing PMI (May) 49.5 vs. Exp. 49.5 (Prev. 49.0); Non-Manufacturing PMI (May) 50.3 vs Exp. 50.6 (Prev. 50.4)
• Chinese Composite PMI (May) 50.4 v (Prev. 50.2)

2c) Asian report

Cautious start to the week after Trump doubles steel & aluminium tariffs; Chinese PMIs mixed and Crude surges on OPEC – Newsquawk Europe Market Open

Monday, Jun 02, 2025 – 01:31 AM

• US President Trump said he will double US steel and aluminium tariffs from 25% to 50%, effective June 4th.
• US Treasury Secretary Bessent said China is holding back products essential to the industrial supply chain and he believes President Trump will talk to Chinese President Xi very soon, according to a CBS interview.
• OPEC+ members that voluntarily restricted output agreed to a 411k BPD oil production increase in July, as expected, which could be paused or reversed subject to market conditions.
• Chinese Official PMI data over the weekend was mixed, with manufacturing improving as expected but non-manufacturing surprisingly easing, albeit slightly.
• Meeting between Russian and Ukrainian delegates in Istanbul is expected to take place at 11:00BST/06:00EDT in Ciragan Palace on Monday, according to a Turkish Foreign Ministry source.
• APAC stocks were mostly in the red, European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.3% after the cash market closed with losses of 0.1% on Friday.
• Looking ahead, highlights include EZ, UK, Canadian & US Manufacturing PMI Finals, Swiss GDP, ISM Manufacturing, Speakers including BoE’s Mann, ECB President Lagarde, Fed’s Logan, Goolsbee & Powell, Supply from the EU.

SNAPSHOT

• Click for the Newsquawk Week Ahead.

Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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

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

US TRADE

EQUITIES

• US stocks were choppy on Friday as they headed into month-end with a focus on US President Trump’s commentary and US data. The major indices ultimately finished the day little changed, although the Russell underperformed, while bonds settled rather flat but with a steeper curve. In the morning, Trump took aim at China in which he noted how they are violating their agreement with the US after Trump dialled back the tariffs on China goods.
• Meanwhile, the US data also hit bonds and stocks as the April PCE printed broadly in line with expectations but eased from the prior and Personal Income surged but Consumer Spending saw minimal growth, suggesting there is some sense of caution in the consumer.
• SPX -0.14% at 5,903, NDX -0.11% at 21,340, DJI +0.13% at 42,270, RUT -0.46% at 2,065.
• Click here for a detailed summary.

TARIFFS/TRADE

• US President Trump said he will double US steel and aluminium tariffs from 25% to 50%, effective June 4th.
• US President Trump is finalising an executive order for new restrictions that could effectively end Chinese drone sales to the US, according to the Washington Post.
• US Treasury Secretary Bessent said China is holding back products essential to the industrial supply chain and he believes President Trump will talk to Chinese President Xi very soon, according to a CBS interview. Bessent stated the US will never default on its debt, and they are on the warning track and will never hit the wall.
• China’s Mofcom said China has taken seriously, strictly implemented and actively upheld the consensus reached at the talks with the US in Geneva, while it is firm in safeguarding its rights and interests, and it is honest in implementing the consensus. Mofcom added the US has successively introduced a number of ‘discriminatory restrictive measures’ against China after talks in Geneva and that these practices by the US seriously violate the consensus reached by both sides. It also stated that if the US insists on going its own way and continues to undermine China’s interests, China will continue to resolutely take forceful measures to safeguard its legitimate rights and interests. Furthermore, it urged the US to immediately correct the relevant ‘wrong practices’ and said the US has made ‘groundless accusations’ against China for violating the consensus with China resolutely rejecting these ‘unreasonable accusations’.
• Japan’s tariff negotiator Akazawa plans to visit the US for tariff talks for four days from Thursday, according to Jiji News.

NOTABLE HEADLINES

• Fed’s Waller (voter) said ‘good news’ that rate cuts remain possible later this year and the rate cut view rests on easing inflation, as well as noted that tariffs are on the lower end of the range and a strong economy through April gives the Fed time to see how trade shakes out with tariffs likely to create a one-time price increase Fed can look through. Waller also stated that none of what drove the pandemic inflation surge is in place now and he doesn’t see how tariffs would create persistent inflation, while he added the policy should look at the real side of the economy if inflation is close to the target and noted that the Fed is close to reaching inflation target.
• Fed’s Daly (2027 voter) said April PCE is a good relief but is incomplete as a picture and wants to ensure inflation stays sustainably at 2%. Daly said she sees incoming information as very positive and noted that monetary policy is in a good place, while she is comfortable with the projection for two rate cuts this year.
• White House sent a ‘partial’ FY26 budget proposal to Congress, leaving out standard projections.

APAC TRADE

EQUITIES

• APAC stocks were mostly in the red, albeit to varying degrees, at the start of a new trading month and ahead of this week’s risk events, while trade uncertainty lingered after President Trump announced to double steel and aluminium tariffs to 50% from this Wednesday.
• ASX 200 was rangebound with the index constrained by weakness in miners and the commodity-related sectors amid trade uncertainty following US President Trump’s latest tariff offensive but with the downside cushioned given the actual boost to underlying commodity prices.
• Nikkei 225 slumped at the open with headwinds from recent currency strength and after US and Japanese officials met on Friday for trade talks, while Economic Minister Akazawa said the latest round of discussions have them on track towards a deal as early as this month but stated that nothing is agreed until everything is agreed and there was no change in the US stance on tariffs, including those on auto parts, which was regrettable.
• Hang Seng underperformed amid the closure in the mainland and Stock Connect trade, while participants also reacted to mixed PMI data and recent criticisms between the US and China including from US President Trump who stated that China has violated the deal with the US.
• US equity futures were on the back foot after Trump’s latest tariff salvo and amid cautiousness ahead of key events.
• European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.3% after the cash market closed with losses of 0.1% on Friday.

FX

• DXY traded marginally softer following US President Trump’s tariff announcement late on Friday to double the tariffs on steel and aluminium imports from 25% to 50% effective this Wednesday, while the latest Fed rhetoric had little impact as Fed’s Daly noted that April PCE is a good relief but is incomplete as a picture and wants to ensure inflation stays sustainably at 2%.
• EUR/USD eked mild gains but with the upside capped by quiet newsflow from the bloc and as EZ final PMIs loom.
• GBP/USD advanced and briefly reclaimed the 1.3500 status, although further upside was capped and there were also recent comments by BoE’s Breeden who highlighted a weakening labour market, slow economic growth and stated that “waves of disinflation are continuing”.
• USD/JPY mildly retreated further beneath the 144.00 handle amid the softer dollar and risk-off mood.
• Antipodeans gained amid strength in commodity prices and were unfazed by the downbeat risk tone and New Zealand holiday closure.
• The Polish Zloty initially strengthened on the second round exit poll, which showed Trzaskowski the victor with 50.3% of the vote, following this, he claimed victory in the Presidential election. However, the full vote count showed right-wing Nawrocki was the victor and new Polish President. A result that has hit the PLN.

FIXED INCOME

• 10yr UST futures traded rangebound amid a lack of pertinent catalysts and ahead of this week’s key data.
• Bund futures lacked direction in the absence of notable drivers to spur a bid although there were reports that US President Trump is to meet with German Chancellor Merz on Friday and that Finance Minister Klingbeil is planning a number of corporate tax breaks aimed at spurring investment.
• 10yr JGB futures trickled lower amid the uninspired mood in counterparts and mild upside in short-term JGB yields.

COMMODITIES

• Crude futures rallied to start the week amid geopolitical uncertainty and in a likely “sell the rumour, buy the news” situation following the 8 OPEC+ members meeting on Saturday where they agreed to a 411k bpd oil production increase in July.
• OPEC+ members that voluntarily restricted output agreed to a 411k BPD oil production increase in July, as expected, which could be paused or reversed subject to market conditions.
• Spot gold gained at the open and reclaimed the USD 3,300/oz status amid a softer dollar and a cautious start to a relatively event-packed week culminating with the latest US Non-Farm Payrolls report on Friday.
• Copper futures rallied despite the absence of its largest buyer and the mostly downbeat risk sentiment in the Asia-Pac region, with prices lifted after US President Trump announced late on Friday to double US steel and aluminium prices, with the tailwinds in copper due to potential stockpiling and supply-side concerns.

CRYPTO

• Bitcoin steadily declined and briefly dipped beneath the USD 105k level before slightly rebounding off lows.

NOTABLE ASIA-PAC HEADLINES

• BoJ set aside maximum provisions for losses on bond transactions for fiscal 2024 which was increased to 100% for the first time with the provisions raised by JPY 427.7bln.
• Taiwan’s Central Bank warned exporters against currency speculation.

DATA RECAP

• Chinese NBS Manufacturing PMI (May) 49.5 vs. Exp. 49.5 (Prev. 49.0)
• Chinese Non-Manufacturing PMI (May) 50.3 vs Exp. 50.6 (Prev. 50.4)
• Chinese Composite PMI (May) 50.4 v (Prev. 50.2)

GEOPOLITICS

MIDDLE EAST

• It was reported that an Israeli strike on an aid distribution point operated by a US-based Gaza aid group killed at least 26 in Rafah. However, the Israeli military said initial findings indicated that the army did not fire at Palestinian civilians near or within the humanitarian aid distribution site, while it added that drone footage showed armed and masked individuals opened fire at Gazan civilians attempting to collect looted humanitarian aid in southern Khan Younis.
• Israeli PM Netanyahu said Hamas is continuing its refusal of US envoy Witkoff’s proposal for a Gaza ceasefire, and Israel will continue its action in Gaza for the return of hostages and defeat of Hamas.
• US envoy Witkoff said Hamas’s response to the US proposal is totally unacceptable and only takes us backwards.
• Hamas said it submitted a response regarding US envoy Witkoff’s proposal to mediators and it expressed to immediately start a round of indirect negotiations on points of contention in a Gaza ceasefire deal, while a spokesperson said they have considered US envoy Witkoff’s proposal acceptable for negotiations and that Israel’s response was ‘incompatible’. Furthermore, they have not rejected Witkoff’s ceasefire proposal but stated that Witkoff’s position towards Hamas was unfair and shows complete bias toward Israel.
• White House Press Secretary Leavitt said envoy Witkoff sent a “detailed and acceptable” nuclear deal proposal to Iran and it is in their interests to accept it.
• Iran’s Foreign Minister said his Omani counterpart visited Tehran on Saturday to present the elements of the US proposal for a nuclear deal. In relevant news, Iran said the UN nuclear watchdog is politically motivated and repeats baseless accusations.
• The IAEA report on Iran released over the weekend expressed “serious concern” over the estimated 409kg uranium enriched to 60% as of May 17, marking an increase of over 130kg since the prior report in February. IAEA also noted of Iran’s “lack of cooperation”.

RUSSIA-UKRAINE

• A bridge collapsed in Russia’s Kursk as a freight train passed, according to the regional governor, while a senior Russian senator said the blowing up of the bridge and derailment of the train in Bryansk indicate that Ukraine has turned into a terrorist enclave. Furthermore, it was reported that Russia’s security service thwarted Ukraine-ordered railway sabotage in the Far East region of Primorye, according to RIA.
• Russian Defence Ministry said Ukraine carried out a terrorist attack using drones against airfields in Murmansk, Ikutsk, Ivanovo, Ryazan and Amur regions, while it stated that all attacks on airfields have been repelled although several aircraft caught fire, according to RIA and Interfax. Furthermore, Ukrainian President Zelensky said the attack on Russian bases was a brilliant operation and their longest-range operation, while he stated that 117 drones were used in the operation and there were very tangible Russian losses.
• Russian Foreign Minister Lavrov discussed the Ukraine settlement and talks with US Secretary of State Rubio, while Rubio expressed condolences to Lavrov over the death in the Russian rail bridge incident.
• Russian Defence Ministry said Russian forces captured Oleksiivka in Ukraine’s Sumy region, while it was separately reported that Ukraine experienced one of the longest barrages from Russian missiles and drones early on Sunday, in which air sirens sounded for more than 9 hours, according to Bloomberg.
• Ukrainian negotiators at peace talks in Istanbul are to propose a roadmap for peace which includes a 30-day ceasefire, release of all POWs, negotiations involving the US and Europe, as well as a meeting between Putin and Zelensky. Furthermore, Ukraine wants reparations, no curbs on its military, no international recognition for territory taken by Russia and with the current front lines to be the starting point for talks, while the framework for Ukrainian terms for peace are largely unchanged from Kyiv’s previous position.
• Meeting between Russian and Ukrainian delegates in Istanbul is expected to take place at 11:00BST/06:00EDT in Ciragan Palace on Monday, according to a Turkish Foreign Ministry source.

OTHER

• US Secretary of Defense Hegseth said the US does not seek conflict with China, but Beijing wants to control and dominate the Indo-Pacific, while he added that Beijing is credibly preparing to use force to alter the balance of power in the region and that the threat from China is real and could be imminent.
• China’s Defence Ministry spokesperson said the US is accustomed to using the Shangri-La Dialogue to create disputes, sow discord and seek selfish interests, which China strongly deplores and resolutely opposes. Furthermore, the spokesperson said the US has no right to make irresponsible remarks about the Taiwan issue, let alone use it as a bargaining chip to contain China, while it stated regarding the South China Sea issue that the US is the biggest threat to regional peace and stability.

EU/UK

NOTABLE HEADLINES

• BoE Deputy Governor Breeden highlighted a weakening labour market and slow economic growth, while she stated that “waves of disinflation are continuing” and noted the BoE’s narrative about continuing interest rate cuts was “not a million miles away from where the market is”.
• UK is to build a billion-pound weapons works as UK PM Starmer calls for war readiness.
• US President Trump is to meet with German Chancellor Merz on Friday.
• German Finance Minister Klingbeil is planning a number of corporate tax breaks aimed at spurring investment and lifting the economy out of stagflation, according to DPA.
• Official results showed Polish nationalist candidate Nawrocki won 50.89% of the vote vs 49.11% for pro-EU candidate Trzaskowski.

6 CRYPTOCURRENCY NEWS

3 .ASIA

3A NORTH KOREA/SOUTH KOREA

3B JAPAN

3C CHINA/BRICS

The BRICS Go Their Own Way

Monday, Jun 02, 2025 – 05:00 AM

Authored by James Rickards via DailyReckoning.com,

It’s that time again.

Time for the annual BRICS+ Leaders Summit. The BRICS have hundreds of meetings over the course of the year on every topic from sports to women’s issues to agriculture. But there is only one Leaders Summit. That’s when the heads of state of the members convene to discuss policy issues and to make announcements of major importance.

For those new to BRICS, it’s an acronym from the names of the founding members of Brazil, Russia, India and China who first met in 2009. That gave us BRICs. South Africa joined in 2010 and the group became BRICS. Iran, Ethiopia, UAE and Egypt joined in 2024 and Indonesia joined in 2025. I refer to this expanded group of ten as BRICS+.

In 2024, a partner category was established for countries that are not full members of BRICS but are invited to join the Leaders’ and Foreign Ministers’ Summits. The current partners are Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan. Some of these partners may become full members in the near future.

In addition, there is an even longer waiting list of potential future members including important economies such as Turkey, Algeria, and Saudi Arabia. Regardless of the specific dates on which particular countries join BRICS or become partner members, the continued expansion of the group seems assured.

Not A Motley Crew

While the Leaders’ Summit is an annual event, it does not occur at the same time each year. The exact date depends on the schedules of the leaders themselves as well as seasonal conditions in the host country. The overall leadership of BRICS+ is a rotating presidency among Brazil, Russia, India, China and South Africa. Last year, the summit was held in Russia in October with President Putin as host.

This year Brazil has the rotating presidency and the summit will be in Rio de Janeiro on July 6 – 7, 2025. Brazilian President Luiz Inácio Lula da Silva is host. All of the founding BRICS leaders are expected to attend including Lula da Silva (Brazil), Vladimir Putin (Russia), Narendra Modi (India), Xi Jinping (China) and Cyril Ramaphosa (South Africa), along with many others.

A brief comparison of the combined resources of the first five BRICS members with the resources of the G7 (U.S., UK, Germany, Italy, France, Japan and Canada) is instructive.

In terms of population, the BRICS have 3.3 billion people compared to 0.8 billion in the G7. The total land area is 39.7 km2 for BRICS versus 21.7kn2 for the G7.

Real annual growth in GDP is about 5% for the BRICS versus 2% in the G7. Nominal GDP for the G7 leads the BRICS by $45.3 trillion (43.7% of global output) compared to $26.7 trillion (28.7% of global output). But when purchasing power parity accounting is used, the BRICS lead G7 $51.6 trillion to $48 trillion.

The point is not that the BRICS are overtaking the G7 across the board – they’re not. The point is that the BRICS are a powerful group demographically and economically and not a motley collection of what were once called third-world countries.

Prepared To Go Their Own Way

The BRICS do far more than gather for summits. They have spent the last sixteen years carefully and methodically building a parallel version of the original Bretton Woods institutions (1944) to suit their own purposes.

The BRICS New Development Bank based in Shanghai functions much like the World Bank as a development lender. The BRICS Contingent Reserve Arrangement (CRA) functions much like the IMF as a swing lender to members experiencing temporary liquidity or foreign exchange distress. The new BRICS payment system (BRICS Pay) functions as a financial payment, settlement and clearance system to displace Western institutions such as SWIFT and Euroclear.

Simply stated, the BRICS are preparing to go their own way and leave the Western financial architecture behind.

What’s NOT Happening This Year

The next BRICS summit in Rio on July 6 promises to be momentous in terms of announcements related to the continued development of this new financial architecture and possible new members. Before considering what these announcements will be, it’s helpful to list what the BRICS will not be doing. BRICs meetings are often surrounded by unfounded conjecture and wild speculation. Let’s dismiss the speculation before turning to the real.

The BRICS will not be announcing a new BRICS currency. There was a lot of speculation about that two years ago at the Leaders’ Summit in South Africa. It didn’t happen then and it’s not happening now. In fact, there may not be a BRICS currency for many years, maybe ever.

The BRICS members have been expanding trade with each other and have been paying with their local currencies and sometimes using the U.S. dollar for convenience. The euro was not created overnight. It took ten years from the Maastricht Treaty in 1991 to the launch of the euro in 2000 to solve all the technical problems. Even the Maastricht Treaty was the result of over twenty-years of experimentation with the European Monetary System (1979-1999), which was an earlier effort to peg exchange rates after the end of the gold standard. So, don’t expect a unified BRICS currency for the foreseeable future.

The BRICS will not be returning to a gold standard. When we use the term “gold standard,” we’re referring to a system in which one or more currencies are pegged to a fixed quantity of gold and the currency is freely convertible into gold at that fixed rate. When more than one currency is on such a gold standard, those currencies are pegged to each other also by the transitive law.

The world was on an ad hoc gold standard from 1870 to 1914 and was on a version of the gold standard by international agreement from 1925 to 1936 and again from 1944 to 1971 under Bretton Woods. There has not been a true gold standard since 1971, and there won’t be one emerging from the BRICS anytime soon.

Finally, there is nothing on the BRICS agenda about abandoning U.S. dollars or ending the role of the U.S. dollar as the unit of account. Today, the dollar accounts for about 60% of global reserves and over 80% of global energy purchases. Despite numerous flaws and complaints, the end of the dollar reserve system and the Petrodollar Accord is not in sight.

What To Expect

With the BRICS currency, a new gold standard and the “end of the dollar” put to one side at least for now, what will the BRICS actually be doing?

The most important initiative will be to admit new members and add new countries to the partner list. The key to creating a BRICS currency (in the long run) and displacing the dollar (in the long run) is to create a large trading area that will accept whatever new currency might be proposed. That was one key to creation of the euro.

The European Monetary Union (EMU) had 11 members in 2000 and has 20 members today with more on a waiting list. The euro is also widely accepted and traded by banks around the world, even outside the EMU. By adding members, the BRICS are making important strides in the direction of a large trading area with mutual payment arrangements.

Another key area for BRICS expansion is the build-out and launch of new systems for payments, settlement and custody. Currently, BRICS members are forced into Western-dominated payment systems such as SWIFT, FedWire, DTCC and Euroclear. These systems are efficient and secure but they are controlled by the U.S. and other G7 governments.

This means that BRICS assets cleared or held in those systems are subject to freezes and seizures by the U.S. and its allies for geopolitical reasons. This has already happened to Russia with regard to $300 billion of its reserves held in the form of U.S. Treasury securities in custody at U.S. banks and Euroclear. Those assets are gradually being stolen by the U.S. to prop-up the neo-Nazi regime in Ukraine. Having alternative systems will weaken U.S. financial sanctions and protect BRICS assets.

The BRICS Golden Currency

While the buzz about a new gold standard is overhyped, gold is still a central part of what the BRICS are all about. Those calling for a new BRICS currency seem not to realize that the BRICS already have a common currency – it’s gold.

If Russia has a trade surplus with China, they will accumulate an excess reserve in yuan. If China builds up a trade surplus with Brazil, they will accumulate an excess reserve in reais. These reserves are not useful beyond a certain point and there are no large liquid bond markets in which they can be invested with liquidity and safety. Conversion to U.S. dollars and the purchase of U.S. Treasury securities is an option, but it leaves the holder subject to U.S. sanctions and outright theft.

The alternative is to convert the BRICS currency reserves into gold. In effect, gold is a leading reserve monetary asset for BRICS central banks. When held in physical form in a safe location, gold cannot be frozen or stolen by the U.S. And gold is freely acceptable by the other BRICS members.

This phenomenon is borne out by hard data. Since 2009, Russia has increased its gold reserves from 531 metric tonnes (mt) to 2,333 mt. China has increased its gold reserves from 600 mt to 2,293 mt. India has increased its gold reserves from 358 mt to 880 mt.

These are official holdings, not including private ownership. It is estimated that citizens of India may have as much as 5,000 mt in the form of jewelry and bullion. There is also good reason to believe that Chinese official gold holdings are significantly larger than the figure reported above. Finally, some countries are acquiring large reserves of gold but are non-transparent about their holdings. BRICS member Iran is in this category.

So, the BRICS already have a common currency in the form of gold.

Geoeconomics Rules

It’s important to emphasize that the BRICS are not a military alliance. There are no mutual defense treaties at the BRICS level. The BRICS are a multilateral organization focused on cooperation in economics and other social and person-to-person issues. Critics who say that the BRICS cannot work because of geopolitical tensions, including those between China and India, are missing the point. Geopolitics does not stand in the way of geoeconomics when there are issues that can be addressed on a win-win basis.

The BRICS summit in Rio may disappoint those who are predicting a “global reset” or the “end of the dollar.” But it will be momentous, nonetheless. The end of the role of sterling as a global reserve currency took thirty years (1914-1944). The rise of the euro as a global reserve currency also took thirty years (1979-2000). These were real monetary resets but they didn’t happen overnight. The key is to watch for important moves in a direction that enables us to see the future of the global monetary system. There will be plenty of that on display in Rio de Janeiro this July.

CHINA/RUSSIA/USA INDO CHINA

Seems that the USA is in a major attack on China. Thus expect massive tariffs on them

US Is ‘Major’ Cause Of Ukraine War: Beijing Goes On Attack As Hegseth Tells Asia Allies China Threat Is ‘Imminent

Saturday, May 31, 2025 – 01:25 PM

China is pushing back hard against new Western criticisms of its foreign policy, as French President Emmanuel Macron and US Defense Secretary Pete Hegseth went on the attack, hurling sharp criticisms at Beijing during the ongoing Shangri-La Dialogue security summit in Singapore, which noticeably China’s Defense Minister Dong Jun chose to skip.

A fresh, strident Chinese denunciation was formulated at the United Nations in New York. Beijing typically is very careful with its Ukraine war statements, seeking to present itself as an outside, neutral and objective mediator, urging peace. But now Chinese officials are blistering angry over the ramped-up anti-China messaging coming from Washington and Europe. The rhetoric is clearly getting less restrained on all sides, as increasingly hot spots in Eastern Europe get closely linked to Asian flashpoints.

Geng Shuang, China’s deputy permanent representative to the United Nations blasted the United States for playing proxy war against Russia in Ukraine, saying Washington bears “major responsibility” for the outbreak of the conflict.

China’s ambassador to UN further underscored that Beijing “has never provided lethal weapons” to any side US should “stop boring blame game” and instead focus on achieving peace. 

“It is not conducive to achieving a cease-fire and ending the war, and runs counter to the common expectations of the international community,” he told the Security Council.

French President Emmanuel Macron called on Indo-Pacific nations to establish a “new coalition” to counter the “constraints and side effects” stemming from the growing U.S.-China rivalry. –CNBC

“We urge all parties to actively forge an atmosphere conducive to peace talks by creating conditions and providing support. We also call on the parties to the conflict to work collectively toward de-escalation and a political solution, rather than persisting with military confrontations and attacks.”

“Just now, the US Representative, once again, spread misinformation and smeared China. This is utterly unacceptable,” said Geng, according to Xinhua. Hegseth’s message in Asia was apparently coming through loud and clear via US representatives in New York on Friday. The Trump administration has of late held the threat of further sanctions over both Moscow and Beijing, given the export of ‘dual-use’ (military/industrial) Chinese items to Russia.

US bears 'MAJOR RESPONSIBILITY for outbreak' of conflict in Ukraine and its 'continuation' — China’s ambassador to UN

China 'has never provided lethal weapons' to any side

US should 'stop boring blame game' and focus on making peace pic.twitter.com/SQkw3xhlp0

— RT (@RT_com) May 30, 2025

The occasion of the Shangri-La Dialogue conference has only served to heighten tensions between the US and China globally, and in the Indo-Pacific region.

“It has to be clear to all that Beijing is credibly preparing to potentially use military force to alter the balance of power in the Indo-Pacific,” Hegseth told delegates, also on Friday, in Singapore.

Hegseth in his remarks blasted China’s regular military drills around Taiwan, as well as ‘aggressive’ interventions in the South China Sea, which has of late involved squabbles with coast guard vessels over fishing rights, whether involving US allies The Philippines or Japan. He warned of “devastating consequences” should China seek to “conquer” Taiwan.

“There’s no reason to sugar-coat it. The threat China poses is real, and it could be imminent,” Hegseth declared in the provocative speech.

He further highlighted that China’s defense chief was a no-show at the key regional summit:

“Here in the Indo-Pacific, our futures are bound together,” Hegseth told attendees. “We share your vision of peace and stability, of prosperity and security. And we are here to stay.”

“And as a matter of fact, we are here this morning, somebody else isn’t,” he added.

NEW – Hegseth: "There's no reason to sugarcoat it — the threat China poses is real and it could be imminent."pic.twitter.com/ptnFvptey9

— Disclose.tv (@disclosetv) May 31, 2025

He urged Asian nations to boost their defense spending, pointing to Germany in Europe, as the latest example of a country realizing the seriousness of threats posed by ‘bad actors’ like Russia and China.

“It doesn’t make sense for countries in Europe to do that while key allies in Asia spend less on defense in the face of an even more formidable threat,” the US defense chief said.

Regional analyst and commenter on China affairs Arnaud Bertrand had this reaction to Hegseth’s speech in Shanghai:

This was easily one of the most unhinged and fear-mongering speeches by a Pentagon chief in Asia ever, with relents of the worst times of the Cold War. Funnily enough, Hegseth started his speech by saying that “for a generation, the United States ignored this region” because they were “distracted by open-ended wars, regime change, and nation building” elsewhere. Good start to the speech.  

But then his assessment turns negative:

But fear not, Hegseth says, the US are doing their utmost to “shift our focus to this region” in order to answer “the threat China poses”, which “could be imminent”. I’m sure the audience was very reassured  How does Hegseth define this “China threat” he’s so worried about? As an “alteration of the balance of power in the Indo-Pacific”, the US being “pushed out of this critical region” and China “conquering Taiwan by force.” In short the “China threat” is… China daring to become more powerful than the US in its own neighborhood.

Below: regional media is full of headlines like the following on Saturday…

Bertrand concludes, “Peak American exceptionalism… Anyhow, all this would be funny if it wasn’t so fundamentally disgusting: at heart this is the US determined to prevent China, the only great power to ever reach this status peacefully, from continuing to modernize and develop itself – because in their zero-sum view of the world the very idea that 1.4 billion people might achieve prosperity without American dominance is apparently intolerable.”

4..EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

From Taxation To Confiscation: Europe’s Wealth Exodus & The Coming Asset Seizur

Sunday, Jun 01, 2025 – 10:30 AM

Authored by Chris MacIntosh via InternationalMan.cm,

Incoming…

Theft, that is.

Consider that the deindustrialisation of the communist union of Europe continues apace and with it the acceleration of the bankruptcy.

Of course, the blow dried TV robots won’t tell you this, but…

The next step in this process is asset seizure.

Remember when they first printed trillions and told us inflation was “transitory?”

Now, they’re taxing trillions and telling us taxes are transitory.

France just announced new tax hikes. Italy is raising capital gain taxes from 26% to 42%. The UK got rid of their “non-dom” rules essentially destroying tax incentives, and across the rest of Europe it’s plain wealth taxes.

Norway showed us how this will transpire. The muppets in power there raised wealth taxes to bring an additional $146 million in yearly tax revenue. Instead, individuals worth $54 billion left the country, leading to a loss of $594 million in yearly wealth tax revenue. A net decrease of $448 million.

Spain just recorded 1,000 fewer high-net-worth taxpayers. It was the first negative millionaire migration for the country since they imposed a wealth tax.

Thousands of millionaires are leaving while (coincidentally) tax pressure is at all-time highs.

Democracy is a joke. Who for example voted for higher taxes? Nobody of course, but the peasants will get them anyway.

In the UK, it’s the same story. Millionaires and billionaires are escaping as fast as they can.

Just in 2023, the UK lost around 12,500 high-net-worth individuals (HNWls). Another 9,500 more are expected to have left in 2024.

The proposed solution? An exit tax for citizens leaving the country.

Modern feudalism is already here in Europe.

I don’t want to sound like a broken record, but the next steps are all too obvious. We’ve had inflation, taxation, and next comes confiscation.

The first steps towards this have been taken. The requirement for all citizens to register all your assets in a central EU register to “help with financial transparency.”

Eliminating cash is well underway.

Your bank accounts, shares, cars, real estate, precious metals, works of art, that old bottle of plonk that might be worth a few hundred bucks… and crypto, of course. Be a good little peasant and register it all to “fight money laundering.”

They’re going to seize it all. Watch!

This brings me to Bitcoin…

I haven’t spoken much about Bitcoin as it’s not in our portfolio. The reason is simple. Buying Bitcoin in your Interactive Brokers account means you’re losing the most critical value component of it: the ability to self custody. Buy Bitcoin and get it off exchanges. They can’t seize Bitcoin you self-custody.

What will they do instead? Probably revoke your passport, which is another excellent reason to get more than one.

*  *  *

As governments tighten the screws—through inflation, taxation, and looming asset registries—the game is changing fast. The old playbook no longer works. What we’re witnessing isn’t just policy—it’s a full-blown clash of systems. If you see the writing on the wall and want to position yourself before the next phase hits, don’t miss our latest special report: Clash of the Systems: Thoughts on Investing at a Unique Point in Time. This isn’t business as usual. It’s survival thinking. Click here to read it now.

end

FRANCE/PALESTINIANS

US Ambassador Calls For Establishment Of Palestinian State In France

Monday, Jun 02, 2025 – 11:00 AM

Via Remix News,

The new US ambassador to Israel, Mike Huckabee, has challenged France to match its advocacy for a Palestinian state by creating a new one on French soil. He suggested that France “carve off a piece of the Côte d’Azur,” also known as the French Riviera, for the establishment of such a state. This proposal has prompted an angry response from Paris.

During an interview with Fox News, Republican Huckabee stated, “If France is truly so determined to see a Palestinian state, I have a suggestion: Carve off a piece of the Côte d’Azur and establish a Palestinian state.”

He added that France was welcome to take such an action, but criticized “putting this kind of pressure on a sovereign nation,” referring to France’s stance toward Israel.

Huckabee contended that the events of Oct. 7, 2023 – the unprecedented attack by Hamas on Israel – “changed a lot.” He deemed France’s initiative at the United Nations to promote a Palestinian state “incredibly inappropriate” given that “Israel is in the middle of a war.”

France and Saudi Arabia are set to co-chair an international conference on the two-state solution.

While not explicitly stating whether France would recognize a Palestinian state, French President Emmanuel Macron declared on Friday that the “creation of a Palestinian state” under certain conditions was “not only a moral duty, but a political necessity.”

Macron also called for a tougher European stance and Western sanctions against Israel if the situation in the Gaza Strip does not improve soon. He may have a number of prominent backers, as European leaders increasingly call for action against Israel from a broad political spectrum. Notably, German Chancellor Friedrich Merz appears to be ready to increase pressure on Israel if the country continues blocking aid to Gazans. Other European leaders from Spain, Ireland, Norway, and a range of other countries, have already called for sanctions against Israel and the recognition of a Palestinian state.

🇩🇪Germany makes an incredible U-turn against Israel and its war in Gaza.@bundeskanzler: “What has happened in recent days appears to me no longer to be urgently necessary for the defense of Israel’s right to exist… The civilian population is being affected excessively here.” pic.twitter.com/IZ5a2X7yWv

— Remix News & Views (@RMXnews) May 27, 2025

In response, the Israeli government accused Macron of waging a “crusade against the Jewish state.”

Israeli Defense Minister Israel Katz announced on Friday that Israel would establish “a Jewish-Israeli state” in the West Bank, describing his declaration as a “decisive response to the terrorist organizations that seek to harm and weaken our control over this country.”

Katz further asserted that it was “a clear message” to “Macron and his partners”: “They will recognize a Palestinian state on paper – but we will establish the Jewish Israeli state here on this soil.”

Huckabee, known as a conservative hardliner, is a long-standing proponent of the Jewish settler movement in the West Bank, which has been deemed illegal by the United Nations.

🇭🇺🇮🇱 Is Hungary the only real ally Israel has left in Europe?

Orbán: "I will invite the Israeli PM Netanyahu to visit Hungary later today, and I will guarantee him in the invitation that if he comes, the ICC’s verdict will have no effect in Hungary." pic.twitter.com/Z16gO3xfWP

— Remix News & Views (@RMXnews) November 22, 2024

Israel has seen the number of allies dwindle in Europe; however, countries like Hungary appear to have only increased support for Israel since Oct. 7. Recently, Orbán’s government left the International Criminal Court (ICC) in response to an arrest warrant for Prime Minister Benjamin Netanyahu, and other Israeli officials, for war crimes. Orbán also hosted Netanyahu on a state visit in Budapest at approximately the same time that he announced his country would leave the ICC.

Read more here…

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/GAZA/ET AL

ISRAEL VS HAMAS

Hamas demands IDF withdrawal, permanent ceasefire in response to Witkoff proposal

Hamas will express opposition to the lack of clear guarantees for ending the war and warns that Israel shouldn’t have “freedom of action to renew the war.”

By JERUSALEM POST STAFFMAY 31, 2025 11:01Updated: MAY 31, 2025 18:20

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-856137&contentHash=183769a138233b1c7fb627ae24ab7c827446484161d50993aeb382cbbcd0aacc&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

Hamas announced on Saturday that it has responded to the ceasefire proposal that was issued by US Middle East envoy Steve Witkoff.

“Following a round of national consultations, and out of our responsibility to our people and their suffering, Hamas today submitted to the mediators its response to the latest proposal by US Special Envoy Steve Witkoff, in a manner that will lead to a permanent ceasefire, a full withdrawal from the Gaza Strip, and ensuring the flow of aid to our people in the Gaza Strip,” Hamas said in a statement. 

“As part of this agreement, ten live Israeli hostages, held by the resistance, will be released, in addition to the return of eighteen bodies, in exchange for an agreed number of Palestinian prisoners,” the statement concluded.

The original Witkoff proposal did not include a full IDF withdrawal or a permanent ceasefire, meaning the response doesn’t answer positively to the terms, and Hamas added terms of its own.

Earlier on Saturday, sources told Saudi news sources Al-Arabiya and Al-Hadath that the terrorist organization will respond positively to the envoy’s proposal, but with reservations.

The initial announcement was made by a senior official of the terrorist organization to the Hamas-affiliated newspaper Al-Risalah, adding that the response will come after a series of leadership consultations within the terror group.

Hamas will express opposition to the lack of clear guarantees for ending the war, according to Al-Arabiya, while also reporting that the terrorist organization will warn in its response that it will not allow Israel “freedom of action to renew the war,” and will demand US guarantees for the implementation of the clauses in any agreement with Israel. The report also said that Hamas will request, as part of the proposal, that Palestinian prisoners should not be handed over in just two days, as stated in Witkoff’s proposal, but rather in batches over the 60-day truce.

Proposal reportedly ‘agreed upon by all factions’

“Our observations on Witkoff‘s proposal were unanimously agreed upon by all factions,” the Saudi sources quoted a Hamas source as saying.

Another report on Al-Arabiya claimed that Hamas presented Witkoff’s proposal to various Palestinian factions, with some of them asking Hamas to agree to the proposal’s outline, even though they do not believe it is perfect.

The factions said that the current outline is an opportunity for Hamas to “stop the war, and make clear that any possibility for it continuing must be taken away from Netanyahu, and the global push against Israel must be exploited to halt the establishment of new settlements in the West Bank.”

END

GHF’s new Gaza aid initiative surpasses first major hurdle – analysis

Despite being overrun on the first day, the GHF volunteers and efforts were able to distribute around 3.8 million meals in Gaza.

By SETH J. FRANTZMANMAY 31, 2025 17:17

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Fdefense-news%2Farticle-856154&contentHash=1dce9c95aa5616597d69cbdb1c877ddcedc996ba8e3500167560989dae267a48&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

The new Gaza humanitarian initiative that began delivering food to Gaza on May 26 has passed its first major hurdle. In any endeavor, the first days of the operation are important. This is when the first crisis emerges and when people begin to see what works and doesn’t work. It can also be a make-or-break period.

The ability of the Gaza Humanitarian Foundation, as well as the private security contractors who help secure the site, to get through the first several days of operation is important.

The GHF has now distributed a total of around 3.8 million meals in Gaza, Ynet noted on Saturday, May 31. This is up from a total of 1.8 million by the afternoon of May 29 and some 2 million by the morning of the 30th.

The meals are distributed in boxes that contain enough food to feed a family of five to six people for three to four days. What matters is that the number of meals being delivered is increasing. By the end of the week, there were three sites open in Gaza, two in the south, and one in Netzarim.

The success of this endeavor appears to boil down to a few factors. First of all, the use of private security is a good way to enable people with experience securing sites and doing this kind of work to have a role that differentiates the sites from the IDF.

Gazans have generally not met the IDF since the war started on terms that can be described as friendly. Instead, they have usually been told to evacuate areas of Gaza.

Therefore, having an independent group doing this is important. It enables the IDF to be one step removed. The IDF nevertheless helps facilitate this and is in control of the overall area of southern Gaza and Netzarim. However, reducing friction is essential to success.

Some of the private security involved in this endeavor have years of experience in the Middle East, usually as soldiers and special forces operators. Some of them may have played a role in January and February during the first ceasefire when there were vehicle inspections by a private security firm at Netzarim.

Overall, what this shows is that these men bring the flexibility and experience necessary to a complex place like Gaza. They have a sense of mission and purpose.

The importance of employing these types of people with experience is that they are not shocked to see some of the crowds or looting or ransacking of areas.

They have the training to pull back and enable things to work themselves out. Humanitarians who have been involved in similar work in other countries know that this kind of ability to mitigate conflict and move back when there is overcrowding or crisis is essential. It reduces the chance of violence.

There has been mass crowding at the various sites in Gaza. Reports indicate that sometimes this meant the sites had to wait to open in the morning because people slept overnight waiting to be first in line.

Also in the afternoon the first day the first site was overrun. But there were contingencies for this and the GHF and the security contractors have been able to sort things out quickly. The reports from Gaza, including videos on social media, show that some of the private hires speak some Arabic and are able to communicate with the crowds. Some of the crowds have cheered for the American contractors and cheered for US President Donald Trump.

This shows an important development, where they understand someone is there to hep them. At the same time reports say people in Gaza have looted other sites linked to the UN or WFP. This shows the people are now demanding aid get directly to them, and not pass through the hands of other parties.

Potential for future expansion of the initiative and cooperation with local Gazans

There are supposed to be four sites. There could be more in the future. Other aspects of the logistics could be streamlined. Also there are reports of locals who support this initiative, including a local Arab clan or group that has been supportive.

The reports speak about a man named Yasser Abu Shabab who is linked to the large Tarabin bedouin tribe that has members in Gaza, the Negev, and Sinai. Yasser Abu Shabab is not a real name; it merely means “Yasser, the father of the youth,” a nickname that helps hide the identity of the person or persons allegedly involved. The same name was reported by the Washington Post and other media back in November 2024 as one of those involved in “looting” or “gang” activity. It remains to be seen whether that was biased reporting.

Most of this information about what is happening in southern Gaza requires more details because relying on a few social media reports or rumors from southern Gaza is not enough. However, the emergence of cleavages in Gaza in which locals want to support this initiative is important. It’s also possible that to help people get the aid, they could receive it later in the day, or earlier, or overnight, especially since some appear to be lining up at night.

Clearly, Israel’s current policy is invested in this succeeding. It took a while to get this off the ground. It could have happened months ago or last year. However, now it is happening, and it appears to be an initial success that can be learned from. Hamas has been cleared from areas near the sites over the last year of war.

In many cases, Hamas was cleared several times, and now the IDF is razing some buildings and securing the area as it moves slowly forward. This comes as ceasefire talks continue.

The capacity to deliver aid is growing in Gaza. It has apparently surpassed 30 trucks a day for the sites. This could double. However, other humanitarian organizations involved in Gaza suggest that 500-600 trucks a day must cross into Gaza. That means that the aid reaching the GHF sites still would account for less than what is needed.

This was known from the outset when the initiative was announced by US Ambassador Mike Huckabee in early May. At the time, the theory was that around sixty percent of Gaza might be fed.

The new initiative passed its first tests and hurdles. It could be said to be entering a new phase as it enters its second week of operations in early June.

end

WATCH: GHF proves IDF did not shoot at innocent Gazans at aid distribution sites

News channels such as CNN and BBC still have false reports of 31 killed Gazans by IDF fire as their headlines, despite GHF’s video evidence.

By REUTERS, JERUSALEM POST STAFFJUNE 1, 2025 07:48Updated: JUNE 1, 2025 15:57

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-856186&contentHash=8d078e9a07d0155494d6f31b3ed5175f94df2b1b87ee3f9a02f84b95fd6637e6&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

Jpost.com/breaking-news/article-856186

The Gaza Humanitarian Foundation distribution center in Rafah denied on Sunday claims that the IDF attacked a food distribution point near Rafah, contradicting widely circulated Hamas reports.

Security camera footage from Sunday’s aid distribution site shows calm civilian activity, with no incidents reported. Aid was delivered without disruption, and the available evidence does not support claims of injuries or fatalities. While some media outlets have reported these allegations, others have contacted the organization to verify the facts, the GHF stated. 

https://player.jpost.com/public/player.html?player=jpost&media=3905205&url=www.jpost.comVideo footage provided to The Jerusalem Post at the time of the reports of IDF firing into Gazan crowds, proving that the reports are false. (Courtesy Gaza Humanitarian Foundation)

The IDF also said on Sunday that it was unaware of injuries caused by military gunfire within the humanitarian distribution zone, after news of an alleged Israeli attack in the area killed at least 31, according to Palestinian and Hamas-affiliated media. The IDF later said that the matter is being reviewed. 

Following the incident, the GHF denied claims of casualties and injuries at the aid distribution sites. “All aid was distributed today without incident. No injuries or fatalities. We have heard that these fake reports have been actively fomented by Hamas. They are untrue and fabricated,” GHF noted.

The US-backed group said on Sunday that it had distributed over 4.7 million meals within six days. 

“We’re scaling up as quickly as possible, but the truth is stark: for every truck we successfully bring into our network, other humanitarian groups are being looted before reaching those in need.”

GHF says it will continue to grow operations, including in northern Gaza 

GHF said that it distributed 16 truckloads of food in Tel Sultan, totaling 15,360 boxes, around 887,040 meals.

They noted that they will increase operations and build additional sites across Gaza, including in the northern Gaza Strip, in the weeks ahead. 

On Thursday, the GHF opened its third food distribution center, located in central Gaza. Two other food centers previously opened near Rafah in deep southern Gaza, and one more is still due to open in Khan Yunis in mid-southern Gaza.

END

ISRAEL VS HAMAS

Gaza in turmoil: Clans emerge as rivals to Hamas’s rule

These clans act like armed militias, forcibly seizing food, looting warehouses, and shooting to protect their members from Hamas security forces.

By AMIR BOHBOT, JERUSALEM POST STAFFJUNE 1, 2025 13:05Updated: JUNE 1, 2025 14:1

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-856205&contentHash=9554730e272cf41cb5a88001d384153c198fed387fd46c2a69ca208cc40f2ecc&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

Armed clans are reasserting themselves in the Gaza Strip, challenging Hamas’s authority, particularly in areas where the IDF is conducting operations and Hamas has lost control, senior IDF officials told Walla. 

Sources told Saudi-owned site Al Hadath on Sunday that Hamas has lost security control over the Gaza Strip, adding that thieves and gangs seize aid, loot homes, and terrorize residents. 

According to a senior IDF officer, these clans act like armed militias, forcibly seizing food, looting warehouses, and shooting to protect their members from Hamas security forces.

The influence of these clans predates the current conflict, rooted in longstanding smuggling networks trafficking weapons, drugs, cigarettes, and electronic goods from Egypt and Israel. Over the years, Hamas reached understandings with some of these clans, occasionally even cooperating with them, particularly during the massacre and looting on October 7.

Hamas’s hold weakened further as the IDF carried out ground operations and divided Gaza. Following the ceasefire announcement, Hamas forces deployed convoys to both the north and south, aiming to reassert control. These forces responded harshly to defiant clans, employing arrests, torture, knee shootings, and even killings to quell opposition.

The Abu Shabab clan, led by Yasser Abu Shabab of the Tarabin family, has emerged as a leading force. After being expelled from Rafah, the clan has operated aggressively in the north and south. Palestinian reports indicate that the group both secures humanitarian aid convoys and loots them. Hamas has accused the clan of collaborating with Israel.

What are the other groups challenging Hamas’s monopoly on power?

Another significant group is the Dughmush clan – also known as Dajmash – which hails from Tel al-Hawa and al-Sabra in Gaza City. This clan was previously involved in the kidnapping of Gilad Shalit and has a history of violent confrontations with Hamas. Its leader was killed last year amid allegations of ties to Israel.

Security sources say most of these clans are motivated by a desire for power and wealth rather than ideology. They are exploiting Hamas’s weakened position to expand their influence, sometimes proving to be as effective as Hamas itself.

Other active clans include the Abu Tir clan, which operated in Khan Yunis and specialized in smuggling from Sinai; the Al Kashk clan, based in Gaza City and closely linked to local centers of authority; the Abu Risha clan, which was active in Rafah and maintained ties with Salafi groups; the Shawish clan, a relatively small but active group in Gaza; and the Baraka clan, which is affiliated with Fatah and operates primarily in Gaza City.

Former security officials caution that as long as these clans remain armed, they will pose a threat to Hamas’s authority. “There is no vacuum in Gaza,” said one official. “If Hamas gunmen are not present, clan members will try to impose their own order. Should a ceasefire hold, Hamas will have to confront this entrenched problem. If not, the clans will only grow stronger. They are not waiting for anyone.”

end

ISRAEL/HAMAS

Jerusalem Post

WATCH: Masked gunmen shoot at Gazans seeking humanitarian aid

According to the IDF, the video, captured earlier in the day, shows men throwing rocks and firing weapons at fellow Palestinians trying to retrieve looted aid packages.

By JERUSALEM POST STAFFJUNE 1, 2025 20:13Updated: JUNE 1, 2025 20:16

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-856230&contentHash=c368b36cd28539bcd312e0b55379a065a04694f0ad5959ae1f6259c5336324ab&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

The Israel Defense Forces released drone footage on Sunday that shows armed and masked individuals in southern Khan Yunis attacking Gaza civilians who were attempting to collect humanitarian aid.

According to the IDF, the video, captured earlier in the day, shows men throwing rocks and firing weapons at fellow Palestinians trying to retrieve looted aid packages.

“Hamas is a brutal and murderous terrorist organization that is starving the residents of Gaza,” the IDF said in an official statement.

“Hamas is doing everything in its power to prevent the successful distribution of food in Gaza.”

The IDF denied reports that it fired at civilians near a humanitarian aid distribution site in Gaza, calling the allegations false based on an initial investigation.  The IDF emphasized its cooperation with Gaza Humanitarian Foundation and international aid groups to ensure aid reaches Gaza’s residents, not Hamas.

https://player.jpost.com/public/player.html?player=jpost&media=3905252&url=www.jpost.comIDF drone footage reveals armed and masked individuals hurling rocks and firing at Gazan civilians attempting to collect looted humanitarian aid in southern Khan Yunis, June 1, 2025. (IDF)

IDF to open more aid distribution centers in Gaza despite Hamas obstruction

IDF Spokesperson Brigadier General Effie Defrin delivered a statement from the southern Gaza city of Rafah on Sunday, highlighting the army’s ongoing humanitarian efforts and condemning Hamas for obstructing aid distribution.

 “So far, we’ve opened four distribution centers, and we are intending to open more of them.”

According to the spokesperson, the IDF has already delivered over 16,000 food packages directly to Gaza residents, in addition to facilitating the entry of more than 1,000 humanitarian aid trucks into the Strip.

END

ISRAEL/HAMAS

IDF, Shin Bet kill Hamas’s Al Mawasi battalion commander, responsible for death of 21 soldiers

He was killed by military aircraft during a joint operation by the IDF and Shin Bet. 

By JERUSALEM POST STAFFJUNE 1, 2025 14:19Updated: JUNE 1, 2025 15:18

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-856207&contentHash=81efe56a9231afa8e960c94de0c83d2bd4e489da16865e5f8cade2649f4021e9&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

The IDF on Friday killed the terrorist Khalil Abd al-Nasser Muhammad Khatib, who commanded Hamas‘s Al Mawasi battalion, and was responsible for the deaths of 21 soldiers in January 2024, the military said on Sunday. 

He was killed by military aircraft during a joint operation by the IDF and Shin Bet. 

Khatib commanded terrorists to launch anti-tank missiles at buildings housing IDF soldiers and at a tank crew providing cover for soldiers in the al-Mawasi area on January 22, 2024.

https://player.jpost.com/public/player.html?player=jpost&media=3905201&url=www.jpost.comThe strike in the Gaza Strip that killed Khalil Abd al-Nasser Muhammad Khatib, a cell commander in Hamas’ Al Mawasi battalion and responsible for the deaths of 21 soldiers (credit: IDF Spokesperson’s Unit)

Details into January 2024’s incident

The incident occurred around 4:00 p.m. in Maghazi in central Gaza, only 600 meters from the border fence close to Kissufim. The buildings were laden with stored explosives, and the grenades set them off causing their total collapse.

Khatib continued to be involved in numerous terror attacks against IDF troops throughout the war after the incident in January 2024, the IDF said.

The IDF forces who were harmed were mostly reservists from Unit 8208 assigned to clear certain areas of dangerous items.

Yonah Jeremy Bob and Gadi Zaig contributed to this report.

END

ISRAEL VS HEZBOLLAH

Hezbollah’s rocket array commander killed in IDF drone strike in south Lebanon

The IDF struck Jamoul’s position because his activities in southern Lebanon violate the ceasefire agreement between it and Israel.

By JERUSALEM POST STAFFMAY 31, 2025 07:13Updated: MAY 31, 2025 11:15

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-856130&contentHash=ad162685c4297cef268efa693fa7e0c4e0d37669bc3fe1bd9439d87abeb72757&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

The IDF killed Hezbollah‘s Shaqif region commander, Mohammad Ali Jamoul, early Saturday morning at around 5 a.m. in Deir al-Zahrani in southern Lebanon, the military announced hours later.

Jamoul was the commander of the terrorist organization’s rocket array in the region, the IDF said.

The Hezbollah-affiliated source Al-Mayadeen initially reported that Jamoul was struck in a vehicle in the area. He had “advanced numerous projectile attacks toward Israeli civilians and IDF troops, and was involved recently in efforts to reestablish Hezbollah’s terrorist infrastructure in the area,” the Israeli military said in their statement.

Hours later, the IDF opened fire at a suspected target in the village of Shouba, also in southern Lebanon.

Violation of ceasefire agreement between Israel and Lebanon

The IDF struck Jamoul’s position because his activities in southern Lebanon violate the ceasefire agreement between it and Israel, the military added.

On Friday night, the IDF earlier struck weapons depots in the Latakia area of Syria, containing surface-to-surface missiles, the military later confirmed.

One civilian was killed in the strike on Latakia, the Syrian state news agency SANA reported.

Amir Bohbot and Reuters contributed to this report. This is a developing story.

ISRAEL HOUTHIS

Houthis Vow “Hot Summer” As Israel’s National Airline Added To Target List

Friday, May 30, 2025 – 05:20 PM

President of the Houthi Supreme Political Council, Mahdi al-Mashat, has warned Israel of a “hot summer” ahead, as the militant group allied to Iran has refused to halt its missile fire on Israel in relation to the ongoing Gaza war.

Israeli airstrikes earlier this week took out the last remaining planes operated by national carrier Yemenia Airways at Sanaa international airport. The airport is completely demolished after multiple rounds of Israeli attacks, and with runways blown to pieces. 

Israel has stressed this is direct retaliation for Houthi missiles which have repeatedly targeted Ben Gurion International Airport, including a ballistic missile which was sent – and intercepted – on Thursday.

“The upcoming operations will differ in quantity and quality from previous operations carried out deep inside the Israeli entity,” Yemeni sources were quoted in a regional publication as saying.

The new statement warned that this “will include Israeli civilian aircraft on the target list” – meaning that main national carrier El Al Israel Airlines will be targeted, per Lebanon’s Al-Akhbar.

Thursday night saw the Houthi military spokesman boast that a missile sent against Ben Gurion airport caused “millions of usurping Zionists to rush to shelters and bringing the airport to a standstill.”

Israeli media has described while confirming the intercept over or near Tel Aviv, “Since March 18, when the IDF resumed its offensive against Hamas in the Gaza Strip, the Houthis in Yemen have launched 42 ballistic missiles and at least 10 drones at Israel. Several of the missiles have fallen short.”

One of the Houthis’ rare ‘successes’ was the direct impact of one of the missiles on Ben Gurion airport in early May, which injured several people fleeing the scene.

The below is the full translated statement of Ansarallah’s Mahdi al-Mashat warning Israel of a “hot summer” ahead:

“The government of the filthy Netanyahu is unable to protect you, and the coming surprises are painful. To the Zionist herds: You should wait for a hot summer. I say to all companies that continue to arrive at the Ben Gurion Airport … that they are at risk at any moment. I call on all travelers around the world to avoid traveling with companies that continue to fly [there], as they are subject to our sanctions and are not safe,” he said. 

What’s become clear in the wake of Trump’s declared ‘ceasefire’ with the Houthi’s in the Red Sea as that the US Navy and CENTCOM have largely pulled back their defense support to Israel in its southern region.

There were reports saying that the Pentagon was blowing through costly ammunition at an alarming pace in defense of Israel, and the decision was made to withdraw from the Red Sea theatre.

ISRAEL HOUTHIS SUNDAY

IDF intercepts Houthi missile from Yemen

By JERUSALEM POST STAFFJUNE 1, 2025 16:5

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-856218&contentHash=46e921e72cf5e36981339a53d693c7e3eea7460ff514197608b1f5972d72c44f&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

The IDF identified the launch of a missile from Yemen toward Israeli territory. IAF aerial defense systems intercepted the threat, the army confirmed on Sunday. 

Sirens sounded in the Jerusalem area and across central Israel. 

This is a developing story

ISRAEL HOUTHIS//MONDAY. 

Sirens sound in central Israel, Jerusalem after ballistic missile launched from Yemen

By Emanuel Fabian FollowToday, 9:00

 

Sirens are now sounding across central Israel, the Jerusalem area, southern West Bank settlements, and some areas in southern Israel, following the launch of a ballistic missile from Yemen.

The IDF says it is working to shoot down the projectile.

THEN ONE HR LATER

The IDF identified and intercepted a missile launched from the Houthis in Yemen towards Israeli territory, the military said on Monday evening.

Israeli air force defense systems operated to intercept the threat, the IDF stated, noting that sirens sounded according to protocol. 

IRAN/SATURDAY

Iran secretly enriching enough uranium for nine nuclear weapons, IAEA report says

“Despite countless warnings by the international community, Iran is totally determined to complete its nuclear weapons program,” the PMO said.

By REUTERS, JERUSALEM POST STAFFMAY 31, 2025 14:09Updated: MAY 31, 2025 16:36

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-856145&contentHash=cb5bb4244bbb7b62d7d91745400188d143c95e0b1b6be86358514b5fc6f6e91d&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

Iran carried out secret nuclear activities with material not declared to the UN nuclear watchdog at three locations that have long been under investigation, the watchdog said in a wide-ranging, confidential report to member states seen by Reuters.

The findings in the “comprehensive” International Atomic Energy Agency report requested by the agency’s 35-nation Board of Governors in November pave the way for a push by the United States, Britain, France, and Germany for the board to declare Iran in violation of its non-proliferation obligations.

A resolution would infuriate Iran and could further complicate nuclear talks between Tehran and Washington.

Using the IAEA report’s findings, the four Western powers plan to submit a draft resolution for the board to adopt at its next meeting the week of June 9, diplomats say. It would be the first time in almost 20 years that Iran has formally been found in non-compliance.

Tehran says it wants to master nuclear technology for peaceful purposes and has long denied accusations by Western powers that it is seeking to develop nuclear weapons.

While many of the findings relate to activities dating back decades and have been made before, the IAEA report’s conclusions were more definitive. It summarized developments in recent years and pointed more clearly towards coordinated, secret activities, some of which were relevant to producing nuclear weapons.

It also spelled out that Iran’s cooperation with IAEA continues to be “less than satisfactory” in “a number of respects.” The IAEA is still seeking explanations for uranium traces found years ago at two of four sites it has been investigating. Three hosted secret experiments, it found.

The IAEA has concluded that “these three locations, and other possible related locations, were part of an undeclared structured nuclear program carried out by Iran until the early 2000s and that some activities used undeclared nuclear material,” the report said.

Nuclear material and/or heavily contaminated equipment from that program was stored at the fourth site, Turquzabad, between 2009 and 2018, it said.

“The Agency concludes that Iran did not declare nuclear material and nuclear-related activities at three undeclared locations in Iran, specifically, Lavisan-Shian, Varamin, and Turquzabad,” the report said.

At Lavisan-Shian in Tehran, a disc made of uranium metal was “used in the production of explosively-driven neutron sources” at least twice in 2003, a process designed to initiate the explosion in a nuclear weapon, the report said, adding that it was part of “small-scale” tests.

The report is likely to lead to Iran being referred to the UN Security Council, though that would probably happen at a later IAEA board meeting, diplomats said.

More immediately, it is likely to lead to Iran again accelerating or expanding its rapidly advancing nuclear program, as it has done after previous rebukes at the board. It could also further complicate talks with the United States aimed at reining in that program.

Secret uranium stock enrichment continues

A separate IAEA report sent to member states on Saturday said Iran’s stock of uranium enriched to up to 60% purity, close to the roughly 90% of weapons grade, had grown by roughly half to 408.6 kg. That is enough, if enriched further, for nine nuclear weapons, according to an IAEA yardstick.

Both IAEA reports said enrichment to such a high level was “of serious concern” since it is the only country to do so without producing nuclear weapons.

The Prime Minister’s Office (PMO) called the IAEA report on Iran’s nuclear program grave and clear, saying it proves Iran is fully committed to developing nuclear weapons.

The PMO stressed that Iran is violating the Non-Proliferation Treaty and blocking IAEA inspections. It urged the international community to act now to stop Iran’s nuclear progress.

“The IAEA has reported a grave and unequivocal report on Iran’s nuclear program. The agency presents a stark picture that serves as a clear warning sign. Despite countless warnings by the international community, Iran is totally determined to complete its nuclear weapons program,” the PMO began.

“The report strongly reinforces what Israel has been saying for years: The purpose of Iran’s nuclear program is not peaceful. This is evident from the alarming scope of Iran’s uranium enrichment activity. Such a level of enrichment exists only in countries actively pursuing nuclear weapons and has no civilian justification whatsoever.”

“The report clearly indicates that Iran remains non-compliant with its fundamental commitments and obligations under the Non-Proliferation Treaty (NPT), and continues to withhold cooperation from IAEA inspectors. The international community must act now to stop Iran,” the PMO concluded.

END

IRAN/USA MONDAY

Iran preparing to reject US nuclear deal proposal, diplomat says – report

“Iran is drafting a negative response to the US proposal, which could be interpreted as a rejection of the US offer,” a senior diplomat told Reuters.

By REUTERS

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Firan-news%2Farticle-856267&contentHash=29dd0786a22508acf7a637ad12a0955b95e003651bee92eaa08469b1ca3280c4&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

Iran is poised to reject a US proposal to end a decades-long nuclear dispute, an Iranian diplomat said on Monday, slamming it as a “non-starter” that fails to address Tehran’s interests and leaves Washington’s stance on uranium enrichment unchanged.

“Iran is drafting a negative response to the US proposal, which could be interpreted as a rejection of the US offer,” the senior diplomat, who is close to Iran’s negotiating team, told Reuters.

The US proposal for a new nuclear deal was presented to Iran on Saturday by Oman’s Foreign Minister Sayyid Badr Albusaidi, who was on a short visit to Tehran and has been mediating nuclear talks between Tehran and Washington.

But after five rounds of talks between Iranian Foreign Minister Abbas Araqchi and President Donald Trump‘s Middle East envoy Steve Witkoff to resolve the nuclear standoff, many issues remain unresolved.

Among clashing red lines is Iran’s rejection of a US demand that Tehran commit to scrapping uranium enrichment, viewed as a potential pathway to developing nuclear bombs.

Tehran says it wants to master nuclear technology for peaceful purposes and has long denied accusations by Western powers that it is seeking to develop nuclear weapons.

“In this proposal, the US stance on enrichment on Iranian soil remains unchanged, and there is no clear explanation regarding the lifting of sanctions,” said the diplomat, who declined to be identified due to the sensitivity of the matter.

Tehran demands the lifting of oil-based sanctions in order for talks to progress

Tehran demands the immediate removal of all US-imposed curbs that impair its oil-based economy. But for the US, the removal of nuclear-related sanctions should be done in phases.

Dozens of Iranian institutions vital to Iran’s economy, including its central bank and national oil company, have been sanctioned since 2018 for, according to Washington, “supporting terrorism or weapons proliferation.”

Trump’s revival of a “maximum pressure” campaign against Tehran since his return to the White House in January has included tightened sanctions and threats to bomb Iran if current negotiations yield no deal.

During his first term, Trump in 2018 ditched Tehran’s 2015 nuclear pact with six powers and reimposed sanctions that have crippled Iran’s economy. In return, Tehran has rapidly violated the 2015 nuclear pact’s curbs on its nuclear program.

The 2015 deal required Iran to take steps to restrict its nuclear program in return for relief from US, EU, and UN economic sanctions.

The diplomat said the assessment of “Iran’s nuclear negotiations committee,” under the supervision of the Supreme Leader Ayatollah Ali Khamenei, was that the US proposal is “completely one-sided” and cannot serve Tehran’s interests.

Therefore, the diplomat said, Tehran considers this proposal a “non-starter” and believes it unilaterally attempts to impose a “bad deal” on Iran through excessive demands.

Two Iranian officials told Reuters last week that Iran may pause uranium enrichment if the US releases frozen Iranian funds and recognizes Tehran’s right to refine uranium for civilian use under a “political deal” that could lead to a broader nuclear accord.

END

IRAQ/IRAN

How Iraqi militias siphoned billions from Visa and Mastercard for Iran – WSJ

US and Iraqi authorities revealed a complex scheme involving prepaid cards that funneled illicit funds to Iranian-backed terror militias.

By JERUSALEM POST STAFFJUNE 2, 2025 10:51Updated: JUNE 2, 2025 13:2

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Firan-news%2Farticle-856259&contentHash=5da4820c3452f066b43da59252289366a57e5294b5f8e4978fde5722e91ef9b6&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

Iraqi terrorist militia groups figured out how to extract illicit funds for Iran from Visa and Mastercard payment networks, the Wall Street Journal reported on Saturday.

According to the report, at the start of 2023, cross-border Visa and Mastercard transactions in Iraq generated about $50 million. By April of the same year, that figure had soared to $1.5 billion.

The militias, which include Kataib Hezbollah, the Badr Brigade, and Asaib Ahl al-Haq, have helped the Islamic Republic avoid sanctions in what the US Treasury called a “clandestine network of financial facilitators.”

Iraq has both an official dollar exchange rate and a higher, unofficial rate. This allows individuals to buy prepaid cards in Iraq, withdraw the money elsewhere in the Middle East at Iraq’s lower official rate, and then return home to convert it into dinars at the higher rate. The process has generated gains for participants of up to 21%.

To generate these massive gains for themselves and Tehran, the militias acquired large amounts of Mastercards and Visa cards loaded with money, transported them back to the United Arab Emirates and other neighboring Gulf states, and withdrew the money, the report said.

The Treasury told the Wall Street Journal that the militias likely used the financial graft to buy weapons and finance terror operations. The cash was also likely distributed among the cardholders for their personal use.

The cardholders who participated are estimated to have made nearly $450 million in profit in 2023 alone. A source familiar with the matter said that the foreign card networks are estimated to have made about $120 million between them.

Mastercard and Visa profited from the transactions by charging at least 1% to 1.4% on cross-border transactions. US Treasury officials reportedly notified the companies of the exchanges in the fall of 2024, but it took them months to take control of the transactions.

Although the cash flow eventually decreased after the card companies reined it in, transactions still ranged from about $400 million to $1.1 billion a month until early 2025. US and Iraqi officials said that warnings to the card companies about the suspicious activity went unheeded for months.

The Treasury recently asked the Central Bank of Iraq to formally block more than 200,000 cards used by militia members. The Iraqi card issuers that partnered with the card companies were not under any sanctions, so there are no public allegations that Visa or Mastercard violated US sanctions.

The companies said they had acted quickly to limit transactions after the Treasury presented the fraud evidence.

“Ongoing government engagement is built into our programs so that we can quickly look into claims, identify the situation, and take action as appropriate,” Mastercard spokesman Seth Eisen said. “That’s exactly what we have done with the US government on this matter from a very early stage,” he added.

“Central to our operations is a commitment to ensuring that transactions on our network do not violate the law… When we identify or are alerted to any suspicious or illegal activity, we take action,” said Visa spokeswoman Fletcher Cook.

In early 2023, the Central Bank of Iraq took steps to keep money circulating in the economy after international wire transfers were restricted. The bank allowed payments with cash and debit cards outside Iraq to be made at the official conversion rate, currently 1,320 Iraqi dinars to the dollar, which was cheaper than what was available in Iraq’s currency markets. This policy sparked a surge in debit card usage for currency arbitrage.

Militia couriers smuggled these cards into the UAE, Turkey, and Jordan. Witnesses described Iraqis lining up day and night at ATMs in Dubai with stacks of prepaid cash cards, withdrawing money nonstop.

They then returned the funds to Iraq either through informal hawala networks or by electronic transfer. Once home, they converted the dollars into dinars at the higher unofficial market rate—close to 1,600 dinars to the dollar at its peak in 2023—pocketing the difference. Although that rate has since fallen to about 1,400 dinars, regulators in Iraq and the UAE responded by limiting daily withdrawals and cracking down on card smuggling.

Authorities arrested dozens of Iraqis carrying thousands of cards worth millions at airports and border crossings. In one case, a traveler in Najaf was found with 300 cards hidden in cigarette packs; in another, Iranians and Iraqis were caught smuggling Mastercards into Iran.

The militias adapted by persuading merchants in the region with Visa and Mastercard access to process fake purchases in exchange for a commission.

Bankers described a scenario in which a luxury goods shop in the UAE would charge a Visa or Mastercard $5,000 even though no sale occurred. For a 5% fee, the shop would hand over the cash or the equivalent in UAE dirhams. The card company would debit the transaction at the official Iraqi rate, and the funds would be transferred back to Iraq for currency conversion.

The militias often repeated this process endlessly, profiting at every step.

Eventually, scammers acquired point-of-sale machines commonly used by restaurants and shops, according to US and Iraqi officials. At so-called POS farms, they processed fake transactions on dozens of devices, often using virtual private networks to hide their locations.

Iraq admits failure to contain card fraud

Iraqi officials admitted they lacked sufficient controls to prevent what they described as rampant fraud. US authorities said they initially failed to spot the flaws, partly because card settlements are less scrutinized than traditional wire transfers. Iraq’s heavy reliance on cash and weak oversight of card issuers made the problem worse.

Authorities had some success reining in the scheme. After restrictions on wire transfers, funds flowing through Western Union and MoneyGram soared, surpassing $1 billion in March 2023 and reaching $1.7 billion in June. Western Union acknowledged the surge in Iraqi transactions in its earnings statements and noted ongoing discussions with US and Iraqi regulators.

US and Iraqi authorities imposed new limits on monthly remittances, prompting Western Union and MoneyGram to close accounts at multiple Iraqi banks. As a result, cross-border flows dropped to about $110 million a month by October 2024.

Western Union declined to comment, and MoneyGram did not respond to requests for comment.

Despite enforcement actions, new loopholes emerged. When Baghdad’s First Iraqi Bank launched Visa Direct in early 2024, the bank’s Visa cardholders sent $1.2 billion overseas in just two months. One account holder alone transferred more than $5 million a day to 11 Indonesian accounts. The Treasury and the Federal Reserve raised concerns, and Visa suspended the service after 10 weeks. Visa and the bank did not respond to questions about Visa Direct. However, stopping individual services did little to curb the fraud, and the card business continued to grow. By 2024, Iraq had 17 licensed card issuers, up from five in 2017.

Particularly concerning was the Qi Card, Iraq’s most popular debit card, issued to millions of pensioners, government workers, and militias. Usage soared from about $10 million a month in early 2023 to more than $500 million a month by early 2025. Some militia commanders reportedly seized rank and file members’ cards or created fake names to secure extra payouts, an Iraqi banker said.

Even after the defeat of ISIS in 2019, the Popular Mobilization Forces, an umbrella group of mostly Shi’ite militias, grew more influential in both the government and financial sectors. By early 2025, more than 200,000 militia members were receiving salaries through Qi Cards, giving them significant leverage over the illicit card trade. The Treasury recently asked Iraq’s central bank to block Qi Cards issued to militias.

Qi Card’s parent company, International Smart Card, said it “no longer provides any services to the Popular Mobilization Forces (PMF).” Bahaa Abdul Hadi, the 55-year-old founder, said the company had taken steps to reassure the Treasury and the Federal Reserve that no cardholders were under US sanctions and that no militia members had Qi Cards usable outside Iraq. “The only service provided to PMF cardholders was the transfer of outbound salaries from their employer,” the company said.

US and Iraqi officials said funds could easily be transferred to other cards that work internationally.

Data on card usage confirmed the scale of the fraud. One in five transactions by foreign cardholders in the UAE in 2024 involved an Iraqi debit or cash card, even though only one in 250 travelers was from Iraq. Many payments went to businesses in free trade zones or high-end jewelers rather than the usual tourist spots. Mastercard’s Global Compliance Team reviewed Yana Banking Services in August 2023 and found “no customer risk rating is performed, and no risk ratings were reflected on eight cardholder and three merchant files.” Yana was temporarily banned from issuing new Mastercard-branded cards but was later reinstated after addressing the violations.

“The goal is to ensure they avoid further violations of Mastercard standards or regulatory requirements,” Eisen said. “We reserve the right to revisit any allegation to ensure this compliance.” Yana did not respond to requests for comment.

In March 2025, Mastercard blocked more than 100,000 Iraqi-issued cards and removed 4,000 merchants in the UAE. Half of the cards came from International Smart Card, the US, and Iraqi officials said. “Information about Qi Card and International Smart Card that Mastercard received from government agencies was compiled with existing information and acted upon accordingly,” Eisen said.

In April, Visa flagged 70,000 Iraqi cards for potential fraud and blocked about 5,000 UAE vendors. Some cards were later reinstated after review.

The Central Bank of Iraq also capped cross-border transactions at $300 million a month and limited each cardholder to $5,000 monthly. The bank hired K2, a US financial crimes consulting firm, and required issuers to bank with an Iraqi institution that has a US correspondent bank. The US Treasury blacklisted three Iraqi card issuers, all Visa or Mastercard partners, for suspected ties to militias.

One issuer, Al Saqi Electronic Payment Company, is affiliated with the Holy Shrine of Al Abbas. Al Saqi did not respond to The Wall Street Journal’s requests for comment.

Visa stopped processing Al Saqi cards, but Al Saqi’s website still features Visa logos, promising “all the advantages offered by Visa, including ease of use, global acceptance, and high security standards.”

RUSSIA VS UKRAINE

Ukraine drones destroy 40+ Russian bombers in airport strike, footage shows – report

The drones used in the strike were part of a continuing campaign to neutralize the aircraft responsible for regular bombardments of Ukrainian cities. Ukraine notified Trump in advance.

By JERUSALEM POST STAFFJUNE 1, 2025 16:25Updated: JUNE 1, 2025 18:05

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Finternational%2Finternationalrussia-ukraine-war%2Farticle-856215&contentHash=5ea2302eaa0c2c74fb9a029d6e4195a9b1957391d5590cfef20f04ef49830eba&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250529_fc959d8f59c79cb1dcc499f325b3f3070a9876f1&useBunnyCDN=0&themeId=140&isMobile=0&unitType=tts-player

Ukraine’s Security Service (SBU) has reportedly struck more than 40 Russian military aircraft in a large-scale drone operation targeting strategic air bases deep within Russian territory, a source told the Kyiv Independent on Sunday. Ukraine informed the Trump administration about the attack ahead of time, a Ukrainian official said, Axios reported.

Among the aircraft hit were allegedly high-value bombers such as the Tu-95, Tu-22M3, and the A-50 early warning plane. 

The operation required a year and a half of preparation, according to the reports. The drones were concealed under wooden covers, which were successfully removed via remote control.

JPost Videos

According to the source, the drones used in the strike were part of a continuing campaign to neutralize the aircraft responsible for regular bombardments of Ukrainian cities.

Officials in Russia acknowledged at least some of the incidents, the Kyiv Independent noted. 

כטב"מים אוקראינים תוקפים מטוסי קרב רוסיים – כולל בסיביר: בלוגרים רוסיים מכנים את 'פרל הרבור הרוסי" pic.twitter.com/MVfykV6BQn

— Amichai Stein (@AmichaiStein1) June 1, 2025

Ukraine’s SBU allegedly targets Russian bombers in Massive drone attack June 2025. (credit: SCREENSHOT/X)

FPV drones launched were used to carry out the strikes

Footage provided by the source shows multiple bombers engulfed in flames at an undisclosed location. One confirmed target was the Belaya air base in Irkutsk Oblast, located over 4,000 kilometers from Ukraine.

Additional unverified reports point to attacks at airfields in Murmansk, Ryazan, and Ivanovo regions, with social media accounts indicating fires at Olenya air base and drone activity near Diaghilev and Ivanovo bases.

Some reports suggest that first-person view (FPV) drones launched from trucks were used to carry out the strikes, though the SBU has not confirmed the specific equipment employed.

The governor of Irkutsk Oblast confirmed a drone strike on a military unit in the village of Sredny, reportedly involving drones launched from a truck.

Similarly, Murmansk Governor Andrey Chibis confirmed that drones had targeted the Murmansk region, though no additional details were provided.

The Kyiv Independent noted that these claims could not be independently verified.

END

Two Bridges ‘Blown Up’, Trains Derailed, In Russian Regions Bordering Ukraine, Killing At Least

Sunday, Jun 01, 2025 – 04:20 PM

A lot happened in the Russia-Ukraine war on Sunday, and as the dust settles from Ukraine’s major drone attacks which struck airbases and destroyed strategic bombers deep inside Russian territory, details of other parallel, devastating alleged ‘sabotage attacks’ are emerging.

Two bridges have collapsed in Russia’s western regions bordering Ukraine on Sunday morning, which derailed trains and left at least seven people dead, and dozens more injured. 

“It was not clear on Sunday morning whether the two incidents — which both involved trains — in neighboring Bryansk and Kursk were related, or what exactly caused the separate collapses,” CNN reports.

Railway authorities said of the Bryansk incident that “illegal interference” was the cause, with regional governor Alexander Bogomaz saying a bridge had been “blown up”.

CNN details that “The bridge came down in the region’s Vygonichi district, about 100 kilometers (62 miles) from the Ukrainian border, crushing the moving train and injuring at least 66 people, including three children, Russian authorities reported.”

Russian state media is giving ‘sabotage’ as the reason for the train derailments: 

Videos circulating in Telegram show a crushed train carriage with passengers being evacuated through shattered windows, and emergency services responding at the scene. The collapse also reportedly affected vehicles on the bridge, which fell onto the railway below.

Russia’s Ministry of Emergency Situations (MChS) reported that fire and rescue units are actively working at the site of the bridge collapse. “All necessary assistance is being provided to the victims. Additional MChS forces, emergency rescue equipment, and lighting towers for nighttime operations have been deployed to the area,” the ministry noted in an official statement. 

Russian media sources published videos of bystanders of the scene of a major train derailment:

New vid of CHAOTIC moments after Bryansk region bridge collapse

People rush to help man trapped in railroad car

Train left sprawled SIDEWAYS https://t.co/BdfL9IHfBq pic.twitter.com/x0WYsLlkFD

— RT (@RT_com) June 1, 2025

Apparently this wasn’t the first effort to blow up train tracks, in a brazen act of targeting civilian transport infrastructure. RT writes that–

“Just days earlier, a freight train in Russia’s Belgorod Region ran over an explosive device planted under the tracks, causing a powerful blast. According to the governor Vyacheslav Gladkov, the explosion damaged the railway’s contact network but caused no casualties.”

Several different scenes of twisted metal and train ‘accidents’ emerged Sunday.

CNN says there was even a third train incident, which occurred Saturday night:

In a third incident on Saturday night, a Russian military freight train was blown up near the occupied city of Melitopol in Ukraine’s Zaporizhzhia region, according to the Defense Intelligence of Ukraine.

“As a result of the explosion, the train with fuel tanks and freight cars derailed on the railway track,” the intelligence service said.

The freight train was moving towards Russian-occupied Crimea via a “key logistical artery” often used by Russian forces, the authority added.

x.com/MissionArtist/status/1929254519466344897?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1929254519466344897%7Ctwgr%5E3412ccf22260572874a2cdf26b2a246119572c41%7Ctwcon%5Es1_

The timing of these attacks suggests likely coordination with the huge drone swarm attacks on Sunday out of Ukraine.

Kiev officials have already long described that they want to make life chaotic and dangerous inside Russia, in hopes that society could be destabilized which could in turn destabilize the government and Putin’s rule.

END

RUSSIA

Will Russia’s Retaliation To Ukraine’s Strategic Drone Strikes Decisively End The Conflict?

Sunday, Jun 01, 2025 – 09:00 PM

Authored by Andrew Korybko via Substack,

Ukraine carried out strategic drone strikes on Sunday against several bases all across Russia that are known to house elements of its nuclear triad. This came a day before the second round of the newly resumed Russian-Ukrainian talks in Istanbul and less than a week after Trump warned Putin that “bad things..REALLY BAD” might soon happen to Russia. It therefore can’t be ruled out that he knew about this and might have even discreetly signaled his approval in order to “force Russia into peace”.

Of course, it’s also possible that he was bluffing and the Biden-era CIA helped orchestrate this attack in advance without him ever finding out so that Ukraine could either sabotage peace talks if he won and pressured Zelensky into them or coerce maximum concessions from Russia, but his ominous words still look bad. Whatever the extent of Trump’s knowledge may or may not be, Putin might once again climb the escalation ladder by dropping more Oreshniks on Ukraine, which could risk a rupture in their ties.

Seeing as how Trump is being left in the dark about the conflict by his closest advisors (not counting Witkoff) as proven by him misportraying Russia’s retaliatory strikes against Ukraine over the past week as unprovoked, he might react the same way to Russia’s inevitable retaliation.

His ally Lindsay Graham already prepared legislation for imposing 500% tariffs on all Russian energy clients, which Trump might approve in response, and this could pair with ramping up armed aid to Ukraine in a major escalation.

Everything therefore depends on the form of Russia’s retaliation; the US’ response; and – if they’re not canceled as a result – the outcome of tomorrow’s talks in Istanbul. If the first two phases of this scenario sequence don’t spiral out of control, then it’ll all depend on whether Ukraine makes concessions to Russia after its retaliation; Russia makes concessions to Ukraine after the US’ response to Russia’s retaliation; or their talks are once again inconclusive.

The first is by far the best outcome for Russia.

The second would suggest that Ukraine’s strategic drone strikes on Russia’s nuclear triad and the US’ response to its retaliation pressured Putin to compromise on his stated goals.

These are Ukraine’s withdrawal from the entirety of the disputed regions, its demilitarization, denazification, and restoring its constitutional neutrality. Freezing the Line of Contact (LOC), even perhaps in exchange for some US sanctions relief and a resource-centric strategic partnership with it, could cede Russia’s strategic edge.

Not only might Ukraine rearm and reposition ahead of reinitiating hostilities on comparatively better terms, but uniformed Western troops might also flood into Ukraine, where they could then function as tripwires for manipulating Trump into “escalating to de-escalate” if they’re attacked by Russia. As for the third possibility, inconclusive talks, Trump might soon lose patience with Russia and thus “escalate to de-escalate” anyhow. He could always just walk away, however, but his recent posts suggest that he won’t.

Overall, Ukraine’s unprecedented provocation will escalate the conflict, but it’s unclear what will follow Russia’s inevitable retaliation. Russia will either coerce the concessions from Ukraine that Putin demands for peace; the US’ response to its retaliation will coerce concessions from Russia to Ukraine instead; or both will remain manageable and tomorrow’s talks will be inconclusive, thus likely only delaying the US’ seemingly inevitable escalated involvement. Tonight will therefore be fateful for the conflict’s future.

END

Three Signs The Lunatics Are Back In Charge, Setting Up Nuclear-Armed Escalation With Russi

Monday, Jun 02, 2025 – 04:05 PM

Hawks in the West are rushing to support Ukraine and President Volodymyr Zelensky as he is busy declaring to Europe that the Ukrainian armed forces have reestablished battlefield leverage with Sunday’s ‘Operation Spider Web’ massive drone operation. 

“Europe, together with America, has better weapons than Russia. We also have stronger tactical solutions – our operation ‘Spiderweb’ yesterday proved that,” he boasted while addressing a security summit in Vilnius on Monday. Represented there were the leaders of Baltic states, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania, Denmark, Norway, Finland, Sweden, and Iceland, as well as NATO Secretary General Mark Rutte.

“Russia must feel what its losses mean. That is what will push it toward diplomacy,” Zelensky continued – again strongly suggesting that Kiev is taking huge escalatory risks in seeking to establish an edge with Russia. “And when Russia takes losses in this war, it’s obvious to everyone that Ukraine is the one holding the line – not just for itself, but for all of Europe.”

At a moment Trump-backed peace negotiations haven’t progressed, and with no ‘breakthroughs’ – and amid broader US administration frustration – there are increased signs that the hawks are pouncing and are back in charge.

Below are three key indicators of this, at a moment the world is awaiting a feared massive retaliation attack by Russia. The reality is that still, over three years in, and President Putin has technically not issue a full declaration of war, nor has he implemented martial law or transitioned to a complete war-time economy.

In short, Russia’s military still has not yet gone full ‘shock and awe’ – but Moscow may be now readying for this, as some Russian hawks are actually urging (via popular military bloggers).

Three bad signs, suggesting yet more significant escalation is on the immediate horizon…

* * *

‘Bone-Crushing’ new US sanctions plan

First, Republican Senator Lindsey Graham and Democrat Senator Richard Blumenthal are in Europe while publicly pushing for their sweeping US sanctions bill, despite President Trump having recently said he won’t take drastic measures which would damage the prospect for achieving peace and potentially drag the US into war in Eastern Europe.

The two senators want to use the proposed legislation to choke off the Kremlin’s war economy. Zelensky’s brazen drone operation just gave their messaging a big boost, as now they tout ‘momentum’ and leverage by Kiev in the battlespace.

“What I learned on this trip was he’s preparing for more war,” Graham said of Putin to the Associated Press. “The world has a lot of cards to play against Putin. We’re going to hit China and India for propping up his war machine,” he said.

Blumenthal hailed that the sanctions in the new legislation are “bone-crushing” and that Russia’s economy would be forced “on a trade island.” He said, acknowledging recent Russian military gains in eastern Ukraine, “It is crunch time for Putin and for the world because Russia is mounting a new offensive.”

EU seeks devastation on Russian economy

European Commission President Ursula von der Leyen is on board with the senators’ plan, and has met with Sen. Graham to discuss EU-US coordination on more sanctions. 

“The president made the objective clear: We need a real ceasefire, we need Russia at the negotiating table, and we need to end this war,” a statement by the European Commission said.

It added: “Pressure works, as the Kremlin understands nothing else. This is why the president welcomed that Senator Graham committed to ramping up pressure on Russia and moving ahead with the bill in Senate next week.”

It affirmed the EU is preparing its 18th package of sanctions, which would include targeting Russia’s energy revenues and infrastructure, as well as the banking sector, while also lowering the crude oil price cap – according to reports.

For decades, treaties kept nukes in check,bombers had to be out in the open, silos sealed,so nobody could pull off a surprise strike.
It was the thin line stopping World War III.

Zelensky shattered it all in one move. He threw out the rules, erased decades of stability, and… pic.twitter.com/eqL8CholtQ

— Richard (@ricwe123) June 2, 2025

Von der Leyen stressed that close coordination with Washington would serve to increase the sanctions package’s effectiveness and devastation.

NATO’s eastern flank nations still push for Ukraine’s membership

A last major sign that each side is busy gearing up for yet more major escalation is that Nordic, Baltic and Central European NATO members have said they remain ‘committed’ to Ukrainian membership in the military alliance.

This was the message pushed by the leaders of Poland, Romania and Lithuania after the Vilnius security summit.

“We stand firm on Allied decision and commitment regarding Ukraine’s irreversible path to full Euro-Atlantic integration, including NATO membership. Ukraine has the right to choose its own security arrangements and to decide its own future, free from outside interference,” they said in a joint statement. The words ‘irreversible path’ is certainly going to be noticed by the Kremlin, as it is hugely provocative and strong language.

But so far the Trump administration has exercised a firm public veto over getting Ukraine into NATO. US officials have time and ago made clear this is not on the table. NATO leadership in Brussels, including Mark Rutte, has also sought to make clear to Moscow that a Ukrainian path to NATO membership is not something being pursued at this time. And yet, the pro-NATO membership crowd is seizing on the momentum.

* * *

The context is Ukrainian desperation, and this is highly dangerous

Meanwhile, Ukraine’s brazen ‘Operation Spider Web’ can be seen as a big last act of desperation. The geopolitical analysis site Moon of Alabama has situated the Sunday morning attacks, which resulted in the destruction of several Russian long-range strategic bombers, in their proper context:

The escalation of the war beyond the immediate battlefield came on the eve of Ukrainian-Russian negotiations in Istanbul, Turkey.

Ukraine’s international position continues to deteriorate. Coming June 6 EU import privileges for Ukrainian products will end. The impact on the Ukraine economy will be serious. Yesterday Poland, Ukraine’s most supportive neighbor, elected a conservative president who is not in favor of Ukraine.

The Ukrainian side had likely hoped that its attack on strategic Russian airfields would entice Russia to delay or break-off the talks in Istanbul. They will however take place and continue.

Those talks have ended and a Turkish official described that the meeting ‘didn’t end negatively’ – but that there will be more rounds of prisoner swaps, while Russia continues to reject unconditional ceasefire. A Ukrainian delegation press briefing said that remaining issues must be resolved at the top leadership levels between the countries.

Moon of Alabama writes, “Both sides are expected to exchange memoranda about their envisioned paths towards an end of the war” and that the Russian side likely delivered some kind of ultimatum.

With the audacious long-range attack on Russia’s nuclear triad, to be followed by probable Russian escalation of unknown proportions, thanks again to all the NatSec Think Tankers who relentlessly scorned and dismissed any concern about nuclear risk in relation to this conflict

— Michael Tracey (@mtracey) June 1, 2025

Describing more of the context of Sunday’s strikes deep inside Russia, the analysis lays out:

Days before negotiations towards an and of the conflict the operational tempo of the war in Ukraine has increased.

During the last week of May the Russian forces took 18 settlements and over 200 square kilometer. During the last 24 hours at least another 3 settlements have changed hands. The Ukrainian army is no longer capable to hold its defense lines. Its situation is deteriorating day by day.

On Saturday a Russian missile attack hit a Ukrainian military training camp. It killed or wounded about 100 soldiers. It was the second time the camp had been hit. Other agglomerations of Ukrainian forces had previously experienced the same fate. Still, Ukrainian forces beyond the frontline keep bunching up to become targets of long range weapons.

And Moon of Alabama points out further, “While the attack is of high propaganda value it will have no favorable impact on the Ukrainian position on the battle field. It will rather entice the Russian forces to hit harder, mostly likely by long range attacks against Ukrainian decision centers.”

Indeed it seems this is opportunity for hawks on both sides to take the driver’s seat, and this is bad for humanity considering the looming prospect of nuclear-armed confrontation between Russia and NATO, spiraling toward WW3.

It’s interesting how Senators Lindsey Graham and Richard Blumenthal visited Ukraine, and the very next day, there was a massive escalation in the war.

What were they really there for?

— X22 Report (@X22Report) June 2, 2025

Dear President Trump, please resist the jingoistic lunatics.

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

Dr. Marty Makary Shatters The Vaccine Narrative Live On CBS

Monday, Jun 02, 2025 – 01:05 PM

Via VigilantFox.com

On Tuesday, HHS Secretary Robert F. Kennedy Jr. delivered a historic course correction from the Biden-era vaccine policy.

Standing alongside NIH Director Dr. Jay Bhattacharya and FDA Commissioner Dr. Marty Makary, Kennedy announced that COVID-19 vaccine recommendations for healthy children and pregnant women were officially removed from the CDC’s immunization schedule.

“Hi, everybody. I’m Robert F. Kennedy, Jr., your HHS secretary. And I’m here today with NIH Director Dr. Jay Bhattacharya and FDA Commissioner Dr. Marty Makary. I couldn’t be more pleased to announce that, as of today, the COVID vaccine for healthy children and healthy pregnant women has been removed from the CDC recommended immunization schedule.”

It was an unmistakable shift away from coercive one-size-fits-all medicine, and a clear signal that data, not politics, is now leading the conversation.

On Tuesday, HHS Secretary Robert F. Kennedy Jr. delivered a historic course correction from the Biden-era vaccine policy.

Standing alongside NIH Director Dr. Jay Bhattacharya and FDA Commissioner Dr. Marty Makary, Kennedy announced that COVID-19 vaccine recommendations for… pic.twitter.com/ZWueGdQRyV

— The Vigilant Fox 🦊 (@VigilantFox) June 1, 2025

Today, Dr. Marty Makary took the fight straight into the lion’s den—appearing on CBS to dismantle the network’s go-to vaccine talking points.

When host Margaret Brennan tried to paint the updated guidance as confusing, Makary didn’t flinch.

“Can you clearly state what the policy is? Because this is confusing,” she asked.

Makary responded without hesitation: “Yeah, we believe the recommendation should be with a patient and their doctor.”

That’s when the real shift came into focus.

“So we’re going to get away from these blanket recommendations in healthy young Americans.”

“On the COVID vaccine schedule, we don’t want to see kids kicked out of school because a 12-year-old girl is not getting her fifth COVID booster shot.”

“We don’t see the data there to support a young, healthy child getting a repeat infinite annual COVID vaccine.”

He then laid out the sheer absurdity of where the old policy was heading.

“There’s a theory that we should sort of blindly approve the new COVID boosters in young, healthy kids every year in perpetuity, and a young girl born today should get 80 COVID mRNA shots or other COVID shots in her average lifespan.”

“We’re saying that’s a theory, and we’d like to check in and get some randomized controlled data. It’s been about four years since the original randomized trials. So we’d like an evidence based approach.”

And then came the knockout line—delivered with facts no one could deny.

“That is a decision between a parent and their doctor—I don’t know if you know these statistics, but 88% of American kids, their parents have said no to the COVID shot last season. So America, the vast majority of Americans are saying no.”

Today, Dr. Marty Makary took the fight straight into the lion’s den—appearing on CBS to dismantle the network’s go-to vaccine talking points.

When host Margaret Brennan tried to paint the updated guidance as confusing, Makary didn’t flinch.

“Can you clearly state what the… pic.twitter.com/R7Gv4lE655

— The Vigilant Fox 🦊 (@VigilantFox) June 1, 2025

Brennan tried to shift gears—falling back on CDC data to argue that even healthy kids remained at risk.

“So the CDC data said 41% of children aged 6 months to 17 years hospitalized with COVID between 2022 and 2024 did not have a known underlying condition. In other words, they looked healthy,” she said.

“And COVID was serious for them.”

But Makary was ready.

Calm and precise, he dismantled the claim with surgical clarity.

“So first of all, we know the CDC data is contaminated with a lot of false positives from incidental positive COVID tests with routine testing of every kid that walks in the hospital.”

“We know that data historically under the Biden administration did not distinguish being sick from COVID or an incidental positive COVID test.”

He shared what he’s heard from the people who actually run the ICUs in America.

“When you go to an ICU in America and you ask how many people are in the ICU that are healthy, that are sick with COVID? The answer I get again, again is we haven’t seen that in a year or years.”

That’s why, he warned, making universal recommendations based on flawed data isn’t just wrong—it’s dangerous.

“And so the worst thing you can do in public health is to put out an absolute universal recommendation in young, healthy kids.”

“And the vast majority of Americans are saying, no, we want to see some data. And you say, forget about the data, just get it anyway.”

Brennan tried to shift gears—falling back on CDC data to argue that even healthy kids remained at risk.

“So the CDC data said 41% of children aged 6 months to 17 years hospitalized with COVID between 2022 and 2024 did not have a known underlying condition. In other words, they… pic.twitter.com/DhIkeoHmZB

— The Vigilant Fox 🦊 (@VigilantFox) June 1, 2025

But it was the final exchange that landed like a sledgehammer.

When Brennan questioned why the HHS bypassed the CDC’s Advisory Committee on Immunization Practices (ACIP) for the new policy shift, Makary landed a haymaker.

“That panel has been a kangaroo court where they just rubberstamp EVERY single vaccine put in front of them.”

He said the committee hadn’t been focused on science, but on messaging and marketing.

“You look at the minutes of the last couple of years, they say, we want a simple message for everybody just so they can understand it. It was not a data based conversation. It was a conversation based on marketing and ease.”

And without real evidence, he warned, these recommendations become little more than guesswork.

“If there’s zero clinical data, you’re opining. I mean—it’s a theory.”

“And so we don’t want to put out an absolute recommendation for kids, with no clinical data to support it.”

The implication was unmistakable: public health decisions should be based on evidence and transparency—not rubber stamps and slogans.

For the first time in years, someone on national television was calling out the system.

But it was the final exchange that landed like a sledgehammer.

When Brennan questioned why the HHS bypassed the CDC’s Advisory Committee on Immunization Practices (ACIP) for the new policy shift, Makary landed a haymaker.

“That panel has been a kangaroo court where they just… pic.twitter.com/jG04k9Tz2s

— The Vigilant Fox 🦊 (@VigilantFox) June 1, 2025

MARK CRISPIN MILLER

DR PAUL ALEXANDER

BOOM, the SCOTUS gives Trump a WIN! Supreme Court Issues 7-2 Ruling Allowing President Trump to Revoke Legal Status of Hundreds of Thousands of Migrants from Four Countries

GWP reporting, ‘The Supreme Court has granted President Trump a legal victory in his war against unfettered immigration and activist judges.’

Dr. Paul AlexanderMay 31

READ IN APP

‘On Friday, the Court ruled that the Trump Administration could end ‘temporary’ worker protections and work authorizations for more than 500,000 migrants from these four countries: Cuba, Haiti, Nicaragua, and Venezuela. This decision reversed a ruling by an Obama judge just two days ago.’

‘The 7-2 ruling will remain in place pending a court challenge.’

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

Upgrade to paid

‘As The Gateway Pundit previously reported earlier this month, the Trump Administration previously appealed to the U.S. Supreme Court, demanding the revocation of temporary legal status for these migrants.

The move aimed to untangle the migratory mess left by the Biden regime, which unleashed a flood of entries under the questionable guise of “humanitarian parole.” This program, known as CHNV, allowed roughly 532,000 migrants from Cuba, Haiti, Nicaragua, and Venezuela to stay in America.

As TGP readers know, CBP data previously found that over 1 million illegal aliens have been allowed into the US through what the Biden regime defined as “legal” means.” The regime used both the CBP One App and the CHNV program to allow illegal aliens entry into the US.’

BREAKING: Supreme Court Issues 7-2 Ruling Allowing President Trump to Revoke Legal Status of Hundreds of Thousands of Migrants from Four Countries | The Gateway Pundit | by Cullen Linebarger

___

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

Enter the Wellness Company as a solution and a willing participant in the health care conversation. The Wellness Company, launched in 2022, offers health care, prescriptions, and supplements, all backed by research

McCullough’s message was simple. The Wellness Company isn’t chasing profits — it’s trying to help people recover. While the government continues pushing vaccines, The Wellness Company is focusing on real solutions.

From telemedicine, prescriptions, memberships, and supplements, TWC is leading America with alternative choices to the traditional health care model.

Please consider support of a good PATRIOT company (in this PATRIOT economy) Drs. McCullough, Risch, Thorp, myself support (they are our sponsors), The Wellness Company; see the emergency preparation kit (key component being antibiotics you were denied by doctors, pharmacists, governments during the fraud COVID), first aid kit, travel emergency kit, contagion control kit etc. Please consider the SPIKE SUPPORT (spike protein DETOX dissolving spike from mRNA vaccine, this is critical to remove spike form the mRNA vaccine/and DNA viral vector) formula with NATTOKINASE as well as the triple formula (SPIKE SUPPORT, BROMELAIN, CIRCUMIN)

DRS. PETER BREGGIN & Ginger Breggin raise an important point worth considering as to the new FDA/CDC policy on mRNA COVID vaccine; ‘New FDA Plans for the Covid Vaccines Will Kill Millions More’

Support the Breggins’ stack work! ‘After initially being welcomed as a step forward toward limiting the use the dangerous Covid vaccines, the FDA’s new proposal really looks like the sinister work of

Dr. Paul AlexanderMay 30

READ IN APP

New FDA Plans for the Covid Vaccines Will Kill Millions More

the global predators who promote euthanasia, depopulation, and containing the costs of healthcare and social security by shortening or eliminating the lives of the recipients.’ Here are the major elements of the new FDA plans that are manifestations of the death cult:[7]

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

Upgrade to paid

First, healthy adults and children under the age of 65 will not receive the Covid vaccines, but those 65 and older over will be vaccinated. That should be euphemistically called “euthanasia” for old people, but it constitutes the murder of people who are by far the major drain on the healthcare system as well as on social security and varied other federal aids!

Second, people of any age with an “underlying medical condition” such as “pregnancy” or “diabetes” will receive the vaccine. That is “euthanasia” for people who are already a drain on the healthcare system.

Third, and finally, categorizing pregnant women as having an “underlying medical condition” justifies giving them the Covid vaccine. However, they and their offspring are among the most vulnerable to Covid vaccine harms. This is probably the most horrendous part of the FDA plan—killing and or sterilizing pregnant women and killing, sterilizing, and otherwise harming greater numbers of the unborn, newborn, and never-to-be born (see below).’

New FDA Plans for the Covid Vaccines Will Kill Millions More

Start Breggin here:

‘After initially being welcomed as a step forward toward limiting the use the dangerous Covid vaccines, the FDA’s new proposal really looks like the sinister work of the global predators who promote euthanasia, depopulation, and containing the costs of healthcare and social security by shortening or eliminating the lives of the recipients. That’s the grim goal of “health planners” like Ezekiel Emanual who consulted with and was admired by former Presidents Biden and the Obama and who wants to reduce the population of the elderly. These social planners find many people too unproductive and too expensive for the economy.[1]

We discuss the modern medical death cult in our book, COVID-19 and the Global Predators: We Are the Prey, especially “Part II: Covid-19 Policies and the End of Science.”[2] We discuss these issues in our columns and radio interview shows. These include Elizabeth Lee Vliet MD with an interview titled “Murdering COVID Patients in the Name of Treatment,”[3] Zowe Smith with an interview titled “Death Watch-2020,”[4] and Scott Schara with an interview, “A Culture of Death: ‘Deprogramming With Grace’s Dad.’”[5]

Breggin Alerts! Exposing Global Predators is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Upgrade to paid

The new vaccine policy is consistent with a long historical pattern for those in power, the elite globalists, to cull or destroy portions of humanity they find unworthy of living.[6]

Here are the major elements of the new FDA plans that are manifestations of the death cult:[7]

First, healthy adults and children under the age of 65 will not receive the Covid vaccines, but those 65 and older over will be vaccinated. That should be euphemistically called “euthanasia” for old people, but it constitutes the murder of people who are by far the major drain on the healthcare system as well as on social security and varied other federal aids!

Second, people of any age with an “underlying medical condition” such as “pregnancy” or “diabetes” will receive the vaccine. That is “euthanasia” for people who are already a drain on the healthcare system.

Third, and finally, categorizing pregnant women as having an “underlying medical condition” justifies giving them the Covid vaccine. However, they and their offspring are among the most vulnerable to Covid vaccine harms. This is probably the most horrendous part of the FDA plan—killing and or sterilizing pregnant women and killing, sterilizing, and otherwise harming greater numbers of the unborn, newborn, and never-to-be born (see below).

The global predators have led the FDA to attack our most vulnerable and most “costly” citizens. It is socialism, depopulation, and medical murder, all in one stroke. According to U.S. officials, under the new FDA strategy “100 million-200 million” Americans will be eligible for the shots and the government plans to have enough on hand to fill the need.^[8] As a result, the stocks of Pfizer and Moderna went up after the announcement.^[9]

What does that tell you? Despite the fact that Americans have been getting wary about taking the Covid vaccines,^[10] those “in the know” anticipate their use will increase under the new FDA plans and rules.

By May 2023, 270 million Americans had taken at least one Covid shot.^[11] The data on the graph only goes to May 8, 2023, and I have not been able to find newer data; the government seems loath to reveal the public’s increasing rejection of the Covid shots. A continuing decline in Covid vaccinations would make the gargantuan pharmaceutical industry desperate to find new ways to push Covid vaccines and they’ve done it with the FDA’s insidious new plan.

As noted, up to another 200 million people are expected to take the shots under the new FDA strategy, revitalizing the size of the markets for vaccines, causing more Covid vaccine deaths and a multitude of other harms in America. (See further in the report and also see the Appendix to the report).

In an elaboration on our previous examination of Covid vaccine deaths,[12] we will reexamine the uncontestable truth that hundreds of thousands and probably millions of Americans have been killed by the Pfizer and Modern Covid vaccines. Then more briefly, we will also discuss two of the more well-documented and largely ignored Covid vaccine adverse events of enormous concern, harms to pregnant mothers and their children and harms to the brains and minds of people of all ages.

We begin with the horror that everyone seems unable to look at—that tens of thousands of Covid vaccine deaths have been reported to the CDC and that these are but a fraction of the actual deaths because only a very tiny fraction of these deaths (less than 1%) get reported.

A Summary of Reports of Covid Vaccine Deaths to the CDC by Age

OpenVAERS.com provides a table of the numbers of reported deaths to CDC by age group from the inception of the vaccines to March 28, 2025.[13] In addition to being a convenient way to see a summary of CDC data on reported Covid vaccine deaths, it documents the extreme risk of death from the vaccines among older people, who will be targeted under the new FDA plan.

The table shows that before age 51 total reports of death from Covid vaccines is 2,539. After age 51, the total of reported Covid vaccine deaths is 22,680, an increase of 8.9 times, and with those deaths in a relatively smaller population. Finally, the table from OpenVAERS.com includes all reports received, including a number from foreign countries, which in March 2025 reached a total of 38,541. That number is for all reports to the CDC, rather than the U.S. only, and so it includes a small portion of the global Covid vaccine deaths which were sent to the U.S. In the following table, as of March 28, 2025, a total of 19,355 Covid vaccine deaths were reported to VAERS from the U.S.:

Further Proof of Death by Covid Vaccine

At the present time, about 60 vaccines are FDA-approved for use in the U.S.[14] for more than two dozen different diseases.[15] VAERS was set up in 1990 and from then until 2021, there was a steady but very slight rise in the number of vaccine deaths caused by the increased number of vaccines. However, there were never any big spikes in the numbers of reported deaths and the totals never exceeded a few hundred annually.

In 2021, all that would change. The year before the widespread use of the Covid jabs, only 171 deaths were reported for all the vaccines in the USA.² In 2021, when the Covid vaccinations were pushed throughout the country, the annual number of reported Covid vaccine deaths abruptly skyrocketed to 10,544.³ That raised the reported number of vaccine deaths by about 61 times in one year (2020 to 2021). Covid mRNA injections were slaughtering people.

This astronomical rise in reported vaccine deaths is dramatically illustrated in Graph 1. To fit it on the page legibly, the graph is foreshortened to zoom in on 2010 through 2023.

Graph I. Enlarged Focus on 2010 to 2023:

A look at the graph reveals a tower of death in 2021, the greatest catastrophe in the history of medicine and public health. It looks like the start of a war!

The Wall of Death

I have in the past referred to the above graph as displaying a “wall of death,” but British researchers may have been the first to use the graphic term.

Four British healthcare professionals conducted a study of the first 250 death reports to VAERS and demonstrated that by April 2021 it was demonstrable that the vaccines were causing a wave of death. The wrote:

This interim report presents the results of our analysis of the first 250 reported deaths that have been reviewed and coded by our team. We identified health service employees as the reporter in at least 67% of the reports, while pharmaceutical employees were identified as the reporter in a further 5%. Lay people were identifiable as the reporter in only 28% of the reports. This suggests an intention for clinical applicability and usefulness and goes some way towards addressing the common disclaimer that many VAERS reports are made by aggrieved family members and anti-vaxxers, both with an axe to grind.[16]

They produced a bar graph showing that the wall of death rose 900% in the first three months of the mRNA vaccine assault against America:

We downloaded and reviewed VAERS datasets for the years 2017-2021. Reports of possible vaccine-related deaths averaged 180 annually between 2017 and 2020 (Figure 7), but have risen more than 900% in just the first 3 months of 2021. [17]

Unless we want to cull our older people for the sake of ridding ourselves of “useless eaters” or “lives not worth living,” it makes no sense to give them Covid vaccines as the FDA is continuing to do.

The report has many important observations, including that many of the older people did indeed have active lives at home and that their deaths were often proximate to the injections.

I cannot find evidence that the ResearchGate publication was ever published in a peer-reviewed journal. That’s one more confirmation that the entire medical and scientific establishment, including HHS, CDC and FDA, the medical societies and journals, the major media and social media controllers, were going along with a mantra equivalent to “Move along, there’s nothing to see here.” The article is still up on ResearchGate but it has rarely been cited and only a few items show up when it is Googled. How is this possible? I stumbled on it—why so few others? Enormous worldwide censorship conducted on many levels of society by many groups went into shutting down any news contrary to fraudulent establishment story about the vaccines.

Once again, we are looking at truths that are very hard to accept—that the global scientific and medical community, federal agencies, billionaires, the WHO and a virtual global mafia colluded in keeping the true pandemic from the public—the assault of the Covid vaccines.

Further Evidence that the Covid Vaccines Caused the Deaths

If any doubts remain over whether those new deaths were caused by the Covid vaccines (and there should not have been any), then Graph 2 (below) should dash them. Most of the deaths occurred shortly after being injected—a very strong confirmation of causation.

Graph 2: Reports of U.S. Covid Vaccine Deaths by Days of Onset from the Injection

The data within the two graphs started pouring in soon after distribution of the Covid shots began in late December 2020. The reports signaled a catastrophic warning to the CDC and the FDA that the new mRNA injections were causing an unprecedented onslaught of deaths and must be immediately stopped. That stoppage could and should have been made within days— perhaps within hours—after a dozen or fewer deaths were initially reported.

NEWS ADDICTS

LATEST REPORTS FOR NEWS JUNKIESParis Is Burning: Mass Chaos as Migrants Riot in the Streets Following Soccer MatchThere was mass rioting Saturday night in Paris, particularly around the Champs-Élysées, following Paris Saint-Germain’s (PSG) victory.X Posts claim that clashes erupted between football fans, groups described as North African gangs, and police, with fireworks, paving stones, and tear gas involved.The streets are littered with burning cars, barricades, and injuries, with some posts framing it as widespread chaos or “anarchy.”There …READ THE FULL REPORTDemocrat Pushes Taxpayer-Funded Dental Care for Illegal AliensA progressive New York City lawmaker is facing criticism after advocating for taxpayer-funded dental care for illegal immigrants. With countless American citizens struggling to afford even basic healthcare, critics argue the proposal puts the needs of non-citizens ahead of hardworking taxpayers.New York City Councilwoman Gale Brewer (D-Manhattan) is calling on the government to provide free dental insurance to illegal immigrants, …READ THE FULL REPORTMIT Class President Who Hijacked Commencement for Personal Woke Agenda Banned from GraduationMassachusetts Institute of Technology’s (MIT) class of 2025 president Megha M. Vemuri has been banned from campus following a divisive speech that University officials say was not part of what Vemuri submitted for approval.During a speech at Thursday’s commencement event, Vemuri hijacked a special moment for 1,000+ fellow graduates and their families to push her own woke agenda.In her speech, …READ THE FULL REPORTKidnapped Band Members and Manager Found Dead Near Texas BorderFour band members and their manager were found dead on a ranch near the Texas border, the attorney general for the northeastern state of Tamaulipas revealed Thursday.The Grupo Fugitivo members were with their manager when they were abducted before a scheduled private event in the border city Reynosa on Sunday and were located Wednesday night.The victims were identified as band …READ THE FULL REPORTSecret Service Whistleblower Claims Biden ‘Got Lost in His Closet’A Secret Service whistleblower told Republican Missouri Sen. Josh Hawley that former President Joe Biden was so disoriented during his time in office that he would “get lost in his closet” inside the White House, the senator said Friday.The whistleblower, who was allegedly assigned to the president’s protective detail, made the claim during conversations Hawley had while investigating assassination attempts …READ THE FULL REPORT

EVOL NEWS

LATEST NEWS:

Trump Policies Drive Massive Income Boost for Americans – EVOL

Read more…

M*A*S*H Star Loretta Swit Dies at 87 – EVOL

Read more…

Supreme Court Hands Trump Massive Win, Backs Plan to Deport 500,000 Foreign Nationals – EVOL

Read more…

Donald Trump fires National Portrait Gallery director for being ‘strong supporter’ of DEI – EVOL

Read more…

Letitia James Buys Home for Niece’s Jailbird Adult Kids – EVOL

Read more…

Loretta Swit a.k.a. Hot Lips of TV’s ‘M*A*S*H,’ Dies at 87 – EVOL

Read more…

Bongino Discovered Comey’s Secret FBI Files: ‘You’re Gonna Be Stunned’ – EVOL

Read more…

Supreme Court Hands Trump Win on Revoking Parole for 500k Foreign Nationals – EVOL

Read more…

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

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

Alberta Wildfires Threaten Oil Sands Output; Energy Experts Closely Monitoring Inferno

Saturday, May 31, 2025 – 09:55 AM

Goldman energy analysts, led by Adam Wijaya, are closely tracking wildfires in Alberta, where over half a million barrels per day of crude production are at risk. 

“Good morning and happy Friday! Coming in this morning to see Brent at $64/b and WTI at $61/b… quiet on the macro front this morning for the most part, with most of the focus on (a) monitoring progression of Alberta Wildfires (number is now above 50… 28 considered out of control from 24 prior, with 19 under control),” Wijaya told clients. 

The latest data from Bloomberg shows that 29 out-of-control fires are raging 12 miles from massive oil sands well sites that produce 459,000 barrels of oil daily. 

The fires are now spreading dangerously close to major oil sands operations:

• MEG Energy’s Christina Lake site (93,000 bpd) is just 4 km from the flames; production continues, but non-essential staff have been evacuated.
• Canadian Natural Resources’ Jackfish site, with 38,000 bpd within 3 km and 83,000 bpd within 10 km of fire zones, is also at risk.

Important context: Canada is the largest foreign oil supplier to the U.S., accounting for approximately 60% of total crude imports, with the vast majority of that coming from Alberta’s oil sands.

According to a person familiar with prices, Canadian heavy crude’s discount to WTI has narrowed to $8.70/bbl, reflecting supply concerns. The discount on Thursday was $9.70/bbl. 

Fire danger remains extreme in most of Alberta but may ease in the next few days with expected cooler weather and rain. Meanwhile, high winds in Saskatchewan and Manitoba are expected to worsen fire conditions. 

Smoke is drifting into the U.S. Upper Midwest…

https://x.com/CollinGrossWx/status/1928248072577937674?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1928248072577937674%7Ctwgr%5E0cbf1817bbb8a3da27d41038b240e89fd6e89f4b%7Ctwcon%5Es1_&ref_url=https

Any severe disruption in Alberta’s oil production will tighten North American supply, raise prices, and could force U.S. refiners to source costlier supplies elsewhere. Something to certaintly keep an eye on, as per what Goldman’s Wijaya noted, mainly because the summer driving season has kicked off. 

END

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUE

CANADA

ROBERT H

Concerned Citizen on X: “

 This is crazy – Canada took in 817,000 people into the Country in just 4 months. Canadas total population is 40M. Now Canadians can’t get jobs, buy or rent property & access to services is in rapid decline. This is the queue for one of their job centres. Politicians have https://t.co/bg6ckQsSNS” / X

Crazy business

🚨🇨🇦 This is crazy – Canada took in 817,000 people into the Country in just 4 months.

Canadas total population is 40M.

Now Canadians can’t get jobs, buy or rent property & access to services is in rapid decline.

This is the queue for one of their job centres. Politicians have… pic.twitter.com/bg6ckQsSNS

— Concerned Citizen (@BGatesIsaPyscho) May 31, 2025

END

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

EURO/USA: 1.1423 UP 0.0082 PTS OR 82 BASIS POINTS

USA/ YEN 142.46 DOWN 1.219 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 1.3539 UP .0092 OR 92 BASIS PTS

USA/CAN DOLLAR:  1.3695 DOWN 0.0031 (CDN DOLLAR UP 31 BASIS PTS)

 Last night Shanghai COMPOSITE DOWN 15.96 PTS OR 0.42%

 Hang Seng CLOSED DOWN 131.80 PTS OR 0.57%

AUSTRALIA CLOSED DOWN .26%

 // EUROPEAN BOURSE:    ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL RED

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 283.61 PTS OR 1.62%

/SHANGHAI CLOSED DOWN 15.96 PTS OR 0.47%

AUSTRALIA BOURSE CLOSED DOWN 0.26 %

(Nikkei (Japan) CLOSED DOWN 494.42 PTS OR 1.80%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 3349.60

silver:$33.29

USA dollar index early MONDAY  morning: 98.709 DOWN .55 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing MONDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.000% DOWN 0 in basis point(s) yield

JAPANESE BOND YIELD: +1.509% UP 2 FULL POINTS AND 0/100  BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.115 UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 3.524 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.524 UP 1 BASIS PTS

IMPORTANT CURRENCY CLOSES :  MID DAY MONDAY

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

Euro/USA 1.1415 UP 0.0074 OR 74 basis points

USA/Japan: 142.99 DOWN .890 OR YEN IS UP 89 BASIS PTS//

Great Britain 10 YR RATE 4.676 UP 8 BASIS POINTS //

Canadian dollar UP .0025 OR 25 BASIS pts  to 1.3702

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan CNY DOWN AT 7.1998,  CNY ON SHORE ..

THE USA/YUAN OFFSHORE DOWN TO 7.2152

TURKISH LIRA:  39.18 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +1.509

Your closing 10 yr US bond yield UP 3 in basis points from FRIDAY at  4.441% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.972 UP 4 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.930 UP 0 BASIS PTS.

GOLD AT 11;00 AM 3366.70

SILVER AT 11;00: 34.06

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

London: CLOSED UP 1.88 PTS OR 0.02%

GERMAN DAX: CLOSED DOWN 68.81 pts or 0.28%

FRANCE: CLOSED DOWN 14.69 pts or 0.19%

Spain IBEX CLOSED UP 50.60 pts or 0.36%

Italian MIB: CLOSED DOWN 19.25 or 0.20%

WTI Oil price  63.05 11 EST/

Brent Oil:  64.79 11:00 EST

USA /RUSSIAN ROUBLE ///   AT:  78.81 ROUBLE DOWN 0 AND  13/ 100      

UK 10 YR YIELD: 4.6760 UP 8 BASIS POINTS

CDN 10 YEAR RATE: 3.229 UP 3 BASIS PTS.

CDN 5 YEAR RATE: 2.826 UP 2 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1436 up 0.0095 OR 95 BASIS POINTS//

British Pound: 1.3541 UP .0094 OR 94 basis pts/

BRITISH 10 YR GILT BOND YIELD:  4.6620 UP 3 FULL BASIS PTS//

JAPAN 10 YR YIELD: 1.510

USA dollar vs Japanese Yen: 142.77 DOWN 1.108 BASIS PTS

USA dollar vs Canadian dollar: 1.3707 DOWN 0.0019 BASIS PTS CDN DOLLAR UP 19 BASIS PTS

West Texas intermediate oil: 62.91

Brent OIL:  64/95

USA 10 yr bond yield UP 4 BASIS pts to 4.456

USA 30 yr bond yield UP 6 PTS to 4.990%

USA 2 YR BOND: UP 3 PTS AT  3.941%

CDN 10 YR RATE 3.219 UP 1 BASIS PTS

CDN 5 YEAR RATE: 2.819 UP 1/2 BASIS PTS

USA dollar index: 98.64 DOWN 61 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 39.20 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  79.02 DOWN 1 AND  52/100 roubles

GOLD  $3379.25 (3:30 PM)

SILVER: 34/70 (3:30 PM)

DOW JONES INDUSTRIAL AVERAGE: UP 35.41 OR 0.084%

NASDAQ 100 UP 150.76 PTS OR 0.71%

VOLATILITY INDEX: 18.76 DOWN .00 PTS OR 0.00%

GLD: $ 311.67 UP 8.07 PTS OR 2.66%

SLV/ $31.59 UP 1.59 PTS OR OR .503%

TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 204.90 OR 0.78%

end

TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING

Bullion, Big-Tech, & Black Gold Boom To Start June; Dollar Gloom Continues

by Tyler Durden

Monday, Jun 02, 2025 – 08:00 PM

‘Uncertainty’ is back on the rise as China trade chatter continues to confuse…

Source: Bloomberg

A weak ISM print (and high inflation sub-index) reversed the recent trend of positive soft data…

Source: Bloomberg

…prompted some early selling pressure in stocks at the open – having barely recovered back to unchanged from overnight weakness.

Stocks turned back up on this HL around 1030ET- *TRUMP AND XI LIKELY TO SPEAK THIS WEEK: CNBC

And extended gains on the day as positive (if you lean that weigh) headlines hit around Iran: *US NUCLEAR DEAL OFFER ALLOWS IRAN TO ENRICH URANIUM: AXIOS

Nasdaq outperformed on the day with The Dow just making it back into the green by the close (interestingly, there was selling pressure at the Asia open, EU open and US opens)…

Mag7 stocks dominated the S&P 493…

Source: Bloomberg

Another day, another short squeeze ignited early on off the initial puke…

Source: Bloomberg

Treasury yields were higher on the day led by the long-end with selling at the Asia open, the European open, and the US open…

Source: Bloomberg

Rate-cut expectations for 2025 hawkishly fell while 2026 expectations rose on the day…

Source: Bloomberg

The dollar dumped to a fresh cycle low today – its weakest versus its fiat peers since July 2023…

Source: Bloomberg

Gold surged higher today, breaking out above its downtrend channel…

Source: Bloomberg

Bitcoin was rangebound over the weekend and continued that today, falling to $104k support…

Source: Bloomberg

…but will it a pause that refreshes on the way to $200k?

Source: Bloomberg

Oil prices rallied despite the OPEC+ production plans as geopolitical risk premia return after Ukraine’s attack on Russian jets. Later in the day, headlines claiming Trump will allow Iran to enrich Uranium sent prices back down (as Iran supply could be back)…

Source: Bloomberg

Finally, we still expect another more systemic surge in VIX as the lagged yield curve continues to signal…

Source: Bloomberg

…but the recent steepening (inverted on chart) reverts VIX back to ‘normal’ within a year or so.

BIG MORNING NEWS OF THE DAY

Bullion, Big-Tech, & Black Gold Boom To Start June; Dollar Gloom Continues

BIG AFTERNOON NEWS

USA DATA

US Manufacturing Surveys Mixed In May As Imports Collapse; Prices Paid At 3 Year Highs

Monday, Jun 02, 2025 – 10:05 AM

With ‘soft’ data turning back up to hard data’s reality, all eyes are on this morning’s Manufacturing PMI surveys for signs of continued reality-checks on the economy.

• S&P Global’s US Manufacturing PMI rose from 50.2 to 52.0 in end May (but that was down from the flash print of 52.3) – Highest since February.
• ISM’s US Manufacturing PMI fell from 48.7 to 48.5 (below expectations of 49.5) – Lowest since November

Source: Bloomberg

But, “the rise in the PMI during May masks worrying developments under the hood of the US manufacturing economy,” according to Chris Williamson, Chief Business Economist at S&P Global Market Intelligence.

“While growth of new orders picked up and suppliers were reportedly busier as companies built up their inventory levels at an unprecedented rate, the common theme was a temporary surge in demand as manufacturers and their customers worry about supply issues and rising prices.

“These concerns were not without basis: supplier delays have risen to the highest since October 2022, and incidences of price hikes are at their highest since November 2022, blamed in most cases on tariffs. Smaller firms, and those in consumer facing markets, appear worst hit so far by the impact of tariffs on supply and prices.

Prices remain at or near 3 year highs while new orders and employment continue to contract…

Imports plunged in April (to the lowest since 2009)…

But, uncertainty remains:

“Encouragingly, manufacturers regained some optimism in May after sentiment had been hit hard by tariff announcements in April, partly reflecting the pauses on new levies.

However, uncertainty clearly remains elevated amid the fluid tariff environment, and factories have so far shown a reluctance to expand headcounts in the face of such volatility.”

Baffle ’em with bullshit surveys continue…

END

Recession? Atlanta Fed Hikes US Q2 Growth Outlook To Highest Since 202

Monday, Jun 02, 2025 – 11:49 AM

Having ‘adjusted’ their model for gold imports, and on the heels of ongoing calls from the ‘establishment’ that a recession is coming… because OrangeManBadEconomist, The Atlanta Fed has hiked its GDPNOW forecast dramatically higher (to 4.6% from +3.87% prior) after this morning’s releases from the US Census Bureau and the Institute for Supply Management.

That would be the best growth since Q4 2021…

The swing is being driven in large part by volatility on the import front (so expect some more ‘adjustments’…

Additionally, the nowcasts of second-quarter real personal consumption expenditures growth and real gross private domestic investment growth increased from 3.3 percent and -1.4 percent, respectively, to 4.0 percent and 0.5 percent.

We look forward to the likes of Liesman explaining to us why this is not real.. and just you wait and see what will happen next.

USA ECONOMIC NEWS

Erik Prince Involved In Deadly Drone Attacks In Haiti

Friday, May 30, 2025 – 05:00 PM

Via The Libertarian Institute

The US-installed government in Haiti has turned to American mercenaries, including Erik Prince, to fight against armed groups that now control nearly all of Port-au-Prince. Drones operated by Prince’s firm have killed hundreds, but no high-value targets. 

According to the New York Times, Prince’s company has been operating drones in Haiti since March in an operation aimed at killing gang members. The Times notes the Haitian government has not announced any successful operations due to the program. 

Pierre Esperance, who leads the National Human Rights Defense Network, told the Wall Street Journal that more than 300 people have been killed in drone strikes over the last three months.

Additionally, Prince is ramping up for a larger operation. He is looking to send 150 mercenaries to Haiti this summer and has already shipped the arms to the nation. 

While now called Constellis Holdings, Prince’s defense contracting firm was initially named Blackwater. The company became infamous in 2007 when some of its mercenaries opened fire on civilians in Iraq, killing 17. 

Prince is a long-time ally of the US President, and the contractors responsible for murdering the Iraqi civilians were pardoned by Trump during his first term. 

Details of the current agreement between Prince and the Haitian government are unknown. The State Department denied that it is currently paying Prince. Although the US is funding Haitian police forces and Kenyan soldiers deployed to Haiti to help transfer power to the government. 

The current government in Port-au-Prince was installed by Washington last year after the collapse of the Ariel Henry administration. Henry was forced from power after he left Port-au-Prince to sign an agreement with the Kenyan government that allowed Nairobi to deploy its troops to Haiti. 

🚨🚨🚨

"Haiti has contracted Erik Prince (BlackWater) to eliminate gang member activity in Port-au-Prince and restore order to the capital.

Weaponized drones will be deployed to aid in the fight."

-AFPost pic.twitter.com/7bF9jI8HIB

— BABS D (@Barbara14130169) May 30, 2025

Henry was Washington’s choice to lead in Port-au-Prince after the assassination of Jovenal Moise in 2021. Under Henry’s rule, gangs and armed groups took more and more control over Port-au-Prince, leading the Biden administration to enlist Kenya to send its troops to Haiti to restore order. 

However, the presence of the Kenyan forces has not changed the tide in Port-au-Prince, as the gangs have taken more control in the city over the past year. Last month, Human Rights Watch reported that the Haitian government only controlled 10% of the capital.

END

USA/CHINA

this is interesting!@@!

American Retail Giants Demand Chinese Suppliers Cover Up To 66% Of US Import Tarif

Monday, Jun 02, 2025 – 02:05 PM

Last week we showed that contrary to conventional wisdom, inflation – so widely and erroneously expected to soar after Trump’s tariffs – had not only continued to decline, but the Fed’s most closely watched metric, supercore PCE, just posted its biggest monthly drop since the covid crash.

And it’s about to get even worse for the inflation fanatics: according to the South China Morning Post, American retail giants are now demanding that their Chinese suppliers shoulder half to 66% of the cost of US import duties, as the ongoing US-China trade war ramps up pressure on businesses’ bottom lines.

Amid widespread confusion over who will shoulder the burden of import tariffs, US retailers have been quietly locked in talks with Chinese producers for weeks over how to handle the additional costs caused by the trade war, with the firms facing intense political pressure at home to “eat the tariffs” and keep prices stable.

While Walmart and several other major US retail groups previously agreed to bear the full cost of the tariffs when they asked their Chinese suppliers to resume shipments in late April, global brands including several US retail giants are now pushing suppliers in both China and parts of Southeast Asia to absorb a large chunk of the cost of the levies, according to sources from suppliers serving companies including Walmart, Target, Nike, Puma and Adidas.

“Most of our customers, the garment vendors exporting to major retailers and brands, are being asked to cover 50 to 66 per cent of the current tariffs,” said an executive at a fashion supplier, which produces and sources from China and Southeast Asia and then sells across the United States and Europe.

While negotiations remain fluid, the details of how the tariff costs will be divided have not yet been finalized, the SCMP sources stressed, as both sides remain in constant contact as they try to navigate a “tough time” for the industry.

But many Chinese suppliers said they would struggle to bear the additional costs being demanded of them – especially if the current 90-day truce in the US-China trade war expires without Beijing and Washington reaching a deal.

In mid-May, Beijing and Washington agreed to drastically scale back tariffs on each other’s products for 90 days, with the US reducing its additional duties on Chinese goods from 145 per cent to 30 per cent and China slashing its levies on US products from 125% to 10%. But absent a deal, the tariffs will skyrocket back to three-digit levels in August. Last week, Treasury Secretary Scott Bessent admitted on Thursday that talks between Beijing and Washington were currently “a bit stalled”.

A source with a stationery maker in eastern China’s Zhejiang province told the Post that the company had been in discussions with Walmart and other US retailers over “a backup plan” for what may happen after the tariff truce ends in August.

Walmart agreed to cover the full cost of any tariffs until August in its previous deals with the stationery maker, but the US retailer has yet to place any orders beyond August.

According to the source, the Zhejiang manufacturer is capable of footing about 30 per cent of the additional costs from the tariffs, but there is “no room” to go up to 50 per cent or higher. The company has yet to reach an agreement with Walmart.

“We agree to get prepared for the worst situation, while hoping for the best,” the person said, referring to a potential return to triple-digit tariffs.

When contacted by the Post for comment, a spokesperson for Walmart said: “We have always worked to keep our prices as low as possible. We’ll keep prices as low as we can for as long as we can given the reality of small retail margins.”

Puma declined to comment, while Target, Nike and Adidas did not immediately respond to the Post’s inquiry.

Bessent said on Thursday that there was “likely” a need for US President Donald Trump and President Xi Jinping to intervene to get a deal over the finishing line before August 12.

In keeping with Beijing’s protecionist tradition, there has been a focus in China on mitigating the impact of the trade war by helping exporters pivot to the domestic market. But that often is not possible for Chinese factories that make products on a contract basis for foreign brands, according to a report by Christopher Beddor, deputy China researcher at analysis firm Gavekal.

“One executive at a large online retailer notes that pants made for the US market run much longer than those in China,” he wrote. “There’s also less domestic demand for oven gloves – as fewer housing units in China have ovens – and no buyers for some products such as bulk Christmas cards.”

Chinese exporters “will almost certainly be forced to curtail output and divert supply to other markets”, Beddor noted, hinting at a wave of deflationary exports by China.

In the US, meanwhile, retailers are coming under political pressure not to raise prices. Walmart CEO Doug McMillon warned on May 15 that the retail giant was unable to absorb all the costs of the trade war and would need to hike some prices. Two days later, Trump posted on social media that Walmart and China should “eat the tariffs”.

On May 21, Nike announced that it would start raising prices to offset the high costs brought by US tariffs. German sportswear brand Puma, meanwhile, has adapted its supply chain by cutting the volume of goods being shipped directly from China to the US, but has not ruled out the possibility of price rises.

Fellow German sportswear giant Adidas said in a company statement on April 29 that it “cannot make any ‘final’ decisions” on what to do, but added that “cost increases due to higher tariffs will eventually cause price increases”.

Target CEO Brian Cornell said on May 21 that price hikes were a “very last resort” for the company as it sought to deal with the cost of higher tariffs.

On Sunday, Trump said his tariff policies were aimed at promoting the reshoring of hi-tech products, rather than clothing and footwear, to America. “We’re not looking to make sneakers and T-shirts,” he said. “We can do that very well in other locations. We are looking to do chips and computers and lots of other things, and tanks and ships.”

VICTOR DAVIS HANSON/

USA NEWS/ANTISEMITISM..

Another Biden illegal immigrant commits heinous crime in Boulder Co.

(zerohedge)

Egyptian National Who Was In US Illegally Set Multiple People On Fire At Boulder Pro-Israeli March

Sunday, Jun 01, 2025 – 07:46 PM

Update 9:20pm: According to Fox news reporter Bill Melugin, three DHS sources said that the Boulder terror suspect is an Egyptian national in the U.S. illegally as a visa overstay who entered the U.S. during the Biden administration.

According to the report, Mohamed Sabry Soliman arrived at LAX on 8/27/22 on a B1/B2 nonimmigrant visa with an authorized stay through 2/26/23, but he overstayed & never left. 

Then, on 9/29/22, he filed some sort of claim with USCIS, potentially an asylum claim, and on 3/29/23, USCIS under the Biden admin gave him work authorization, which expired on 3/28/25.

* * * 

Police said a male suspect was taken into custody after a Sunday afternoon attack that “set people on fire” in Boulder, Colorado, in what the FBI director described as a “targeted” act of terror.

Authorities identified the attacker who threw a Molotov cocktail at a pro-Israel march in Boulder, injuring multiple people, and whom MSNBC described only as a “white male”…

MSNBC: Boulder terrorist a “white male.” pic.twitter.com/e6xixKoVS4

— Breaking911 (@Breaking911) June 1, 2025

… as Mohamad Soliman.

Breaking 🚨Boulder, Colorado authorities have arrested a man by the name of Mohamad Soliman .

Video shows the alleged suspect dressed up as a landscaper when he threw Molotov cocktails at the group, burning several including children. pic.twitter.com/oSVo4Gw0Wy

— primalkey (@primalkey) June 1, 2025

Information on the attack, which occurred near a walk to remember the Israeli hostages who remain in Gaza, was “very preliminary,” Boulder Police Chief Stephen Redfearn said. But he noted the man was apprehended following calls to police dispatch of someone with a weapon who was “setting people on fire.”

https://x.com/EndWokeness/status/1929304497051836844?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1929304497051836844%7Ctwgr%5Ecf2c053c365ba151d0617c609e2b542b0376284f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fw

While FBI heads Kash Patel and Dan Bongino described the incident as a “targeted terror attack,” Redfearn stressed it was too soon to speculate about a motive.

https://x.com/FBIDDBongino/status/1929289348307890451?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1929289348307890451%7Ctwgr%5Ecf2c053c365ba151d0617c609e2b542b0376284f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.ze

“We are not calling it a terror attack at this moment,” Redfearn said. “This was a beautiful Sunday afternoon in downtown Boulder on Pearl Street and this act was unacceptable,” he said. “I ask that you join me in thinking about the victims, the families of those victims, and everyone involved in this tragedy.”

The attack follows the arrest of a Chicago-born man in the fatal shooting of two Israeli embassy employees in Washington, D.C. Someone opened fire on a group of people leaving an event hosted by the American Jewish Committee, an advocacy group that fights antisemitism and supports Israel.

“We are saddened and heartbroken to learn that an incendiary device was thrown at walkers at the Run for Their Lives walk on Pearl Street as they were raising awareness for the hostages still held in Gaza,” a statement attributed to Boulder’s Jewish Community said.

Colorado Governor Jared Polis posted on social media that he was closely monitoring the situation, adding that “hate-filled acts of any kind are unacceptable.”

KING NEWS

The King Report June 2, 2025 Issue 7504

Independent View of the News

Trump on Friday: Two weeks ago, China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace…  and it was devastating for them. Many factories closed and there was, to put it mildly, “civil unrest.” I saw what was happening and didn’t like it, for them, not for us. I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen. Because of this deal, everything quickly stabilized, and China got back to business as usual. Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!   US Plans Wider China Tech Sanctions with Subsidiary Crackdown – BBG on Friday The goal of the new policy is to prevent workarounds to the curbs via the creation of new subsidiaries… The subsidiary rule, which applies to a 50% ownership threshold, could be unveiled as soon as June and would likely be followed by new sanctions of major Chinese companies…     Officials are drafting a rule that would impose US government licensing requirements on transactions with companies that are majority-owned by already-sanctioned firms… WSJ on Friday: Senators Bash Nvidia’s Plans for Facility in China Lawmakers accuse chip maker of undercutting national security     Recent plans for an Nvidia facility in Shanghai risk giving China access to cutting-edge technology, Sen. Jim Banks (R., Ind.) and Sen. Elizabeth Warren (D., Mass.) wrote in a recent letter to Chief Executive Jensen Huang. The facility “raises significant national security and economic security issues that warrant serious review,” they said in the letter… https://www.wsj.com/politics/senators-bash-nvidias-plans-for-facility-in-china-6f581018   Nvidia sank as much as 4.5% on Friday.  This forced Fangs+/Mag 7 sharply lower.   US Economic Data released on FridayApril Personal Income 0.8% m/m, 0.3% exp., prior to 0.7% from 0.5%Spending 0.2% m/m as expected, prior 0.7%PCE Priced Index 0.1% m/m as expected &2.1% y/y, 2.2% y/y exp., prior 0.0%Core PCE 0.1% m/m & 2.5% y/y as exp., prior 0.1% m/m from 0.0% & 2.7% y/y from 2.6%April Advance Goods Trade Balance -$87.6B, -$143.0B exp.; from -$162.3BApril Wholesale Inventories 0.0% m/m, 0.4% m/m exp.; Retail Inventories -0.1% m/m as exp.May Chicago PMI 40.5, 45.1 expected, prior 44.6May UM Sentiment 52.2, 51.5 exp., prior 50.8Current Conditions 58.9, 58 exp., prior 57.6Expectations 47.8, 47.9 expected, prior 46.51-year Inflation 6/6%, 7.1% exp., 5-10-year Inflation 4.2%, 4.5% exp.Dem 1-yr Inflation 9.4%, prior 9.6%; GOP 1-yr Inflation 1%, 1.2% prior  Despite Fed leftists’ (palpable political) fear mongering that Trump’s Tariffs would cause inflation, the Fed’s professed favorite inflation indicator, Core PCE y/y, fell to a four-year low in April.  Furthermore, SuperCore PCE also fell to 2.981% y/y, the lowest reading since 3.087% in March 2021.       PCE SuperCore is NEGATIVE 0.023% m/m for April!  This is AKA DEFLATION, Jerome Powell!   @NewsLambert: U.S. housing market now has 500,000 more home sellers than homebuyers.  That’s the most homebuyers have outmatched home sellers in over a decade, according to Redfin. https://x.com/NewsLambert/status/1928277302351384705   Investor demand for houses has fallen in some cities; illegal alien deportations has diminished demand.   Atlanta’s Housing Market ‘At Risk’ as Demand for Homes Collapses According to experts, shrinking demand is due to locals being priced out of the market and investors turning away from Atlanta…  https://www.newsweek.com/atlanta-housing-market-risk-demand-homes-collapses-2078371   @dailychartbook: “Investor purchases of condos fell 3% year over year to the lowest level in 10 years, aside from Q2 2020. That’s driven largely by investors retreating from Florida.” @Redfin https://t.co/Kv855cfgvx   With Trump and China ruining the manipulation for May performance gaming scheme, ESMs and stocks declined sharply in early US trading.  However, manipulators got busy at midday.   ESMs opened modestly lower on Thursday night and fell to 5891.00 at 21:02 ET.  They rallied to 5922.50 by 1:38 ET.  After a dip to 5901.25 at 3:09 ET, ESMs rebounded modestly and traded sideways until they broke down at 8:07 ET on Trump’s diatribe against China.   An A-B-C rally took ESMs to 5918.50 at 10:37 ET.  Sellers reappeared; ESMs sank to a daily low of 5853.25 at 12:33 ET.  Performance gaming manipulation commenced; ESMs jumped to a daily high of 5932.75 at 15:37 ET.  Traders selling for the weekend dropped ESMs to 5905.50 at 16:05 ET.   Positive aspects of previous session The manipulation to game May performance appeared after 12:30 ET. For May, the S&P 500 and Nasdaq had their biggest monthly % gain since November 2023 The S&P 500 Index had its biggest monthly % gain (6.15%) since 1990 Nasdaq had its biggest monthly % gain (9.56%) since 1997 The NY Fang+ Index soared 11.71% in May. The DJIA rallied 3.94% in May; the DJTA jumped 7.75%; the Russell 2k rose 5.2% The Dollar Index fell only 0.07% in May despite widely heralded Trumpageddon.   Negative aspects of previous session Nvidia dragged Fangs/Mag 7 lower.  The DJTA fell 59.08 points. USMs were only +4/32 at the NYSE on the low/no/negative inflation in the PCE data. TLT (US 20+year bond ETF) declined 3.57% in May.   Ambiguous aspects of previous session Gold was +0.07% in May.  Is it resting or reversing?     Healthcare, -5.72%, was the only negative S&P Sector in May.  Info tech +10.79%, Communication Serv ices +9.62%, Consumer Discretionary +9.38%, Industrials +8.63%   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5941.33 Previous session S&P 500 Index High/Low: 5922.14; 5843.66   Pentagon chief warns China is ‘preparing’ to use military force in Asia (on Saturday) “The threat China poses is real and it could be imminent,” Hegseth said at the Shangri-La Dialogue (Singapore), attended by defence officials from around the world…        The United States was “reorienting toward deterring aggression by communist China“, Hegseth said, calling on US allies and partners in Asia to swiftly upgrade their defences in the face of mounting threats.  In Beijing, the foreign ministry said: “The US should not try to use the Taiwan issue as a bargaining chip to contain China and must not play with fire.”… https://www.yahoo.com/news/pentagon-chief-warns-china-preparing-015807419.html   GOP Sen. Graham and Dem Senator spoke in Kyiv on Friday.   Graham: I expect the Senate to start moving the sanctions bill (on Russia) next week – BBG Blumenthal: US needs to give Ukraine more military support – BBG   @visegrad24: Russia’s strategic bomber fleet burns! Drones were lunched from trucks near 4 airfields deep inside Russia. More than 40 planes destroyed at: Olenya Air Base in Murmansk; Belaya Air Base in Irkutsk; Ivanovo Air Base in Ivanovo; Dyagilevo Air Base Ryazan   @tomlbutler: This is a big deal. Before the war, Russia had ~150 strategic bombers. And in a single day, Ukraine has destroyed up to 40 of them. These are irreplaceable losses because Russia stopped production of strategic bombers in 1993.   @ChrisO_wiki: Today’s Ukrainian drone attack on Russian air bases was launched using drones concealed in shipping containers. It shows that Ukraine has managed to weaponise the global logistics system, and will alarm security planners worldwide.  (China is the Big Cheese of shipping containers!)   @CifJamestown on Oct 8, 2021: China has showcased precision-guided multiple launch rockets concealed in a shipping container-launcher loaded w/ YJ-18C (NATO designation CH-SS-NX-13), similar to Club-K concept (below) shown during a military show in 2016. https://t.co/mSoQ2DCPUh   Iran producing near weapons-grade uranium amid nuclear talks: UN watchdog https://trib.al/XppQvJ5   WSJ: Harvard Has Trained So Many Chinese Communist Officials, They Call It Their ‘Party School’ – Kennedy School of Government is favored by party cadres seeking career boosts   @amuse: Why would Harvard select a Chinese national affiliated with a CCP-backed NGO whose father is a high ranking official in that NGO that serves as a quasi-diplomatic agent for the CCP to give the school’s commencement address this year?   Yurong “Luanna” Jiang, a representative of a CCP-funded and monitored NGO, gave the commencement speech at Harvard parroting Xi Jinping’s diplomatic rhetoric about a “shared future for mankind”. Her father, Jiang Zhiming, is a senior executive in the NGO and serves as a quasi-diplomatic agent for the CCP. The China Biodiversity Conservation and Green Development Foundation (CBCGDF) has strong ties to the state and Communist Party and was established in 1985 by China’s State Council. https://x.com/amuse/status/1928851185311645810   On Friday night while appearing with workers at a US Steel plant in Pittsburgh, Trump said he would increase tariffs on steel and aluminum to 50% from 25% to protect American workers.   Trump on the U.S. Steel-Nippon Steel partnership: “It’s the largest investment in the history of the state of Pennsylvania in any deal — not just steel.”  https://x.com/RapidResponse47/status/1928849527127023812   Over the past few months, stocks tend to reverse from early declines.  Here’s a reason why:   At 10 AM, Stock Options Soar as Retail Traders Unleash New Bots – BBG Can result in predictable and herd-like behavior, with trades clustering at certain times of the day…     Data from Cboe Global Markets shows tht retail volume spikes at specific times, such as 10 a.m. New York time, due to systemic trading strategies by retail investors… with smaller spikes at 10:15, 10:30 and 11 a.m., and a larger spike at 2 p.m…   Trump posted on Sunday: If the Courts somehow rule against us on Tariffs, which is not expected, that would allow other countries to hold our Nation hostage with their anti-American Tariffs that they would use against us. This would mean the Economic ruination of the US  (Puts recession onus on SCOTUS)   @theblaze: Jamie Dimon: “Immigration – What the hell are we doing? The bottom 20% of our population, their wages didn’t go up for 20 years. They’re dying 7 years younger. Their schools don’t work. Americans should be getting sick of it.” (Jamie, you’re a life-long Dem; check with your ilk!) https://x.com/theblaze/status/1928534790313017736   Jamie Dimon says crack in the US bond market is ‘going to happen’… after the US government and Federal Reserve “massively overdid” spending and quantitative easing… “I tell this to my regulators,” Dimon said on Friday. “I’m telling you it’s going to happen, and you’re going to panic. I’m not going to panic, we’ll be fine. We’ll probably make more money and then some of my friends will tell me that we like crises because it’s good for JPMorgan Chase — not really.” https://www.afr.com/markets/debt-markets/jamie-dimon-says-crack-in-the-us-bond-market-is-going-to-happen-20250531-p5m3qq   Jamie Dimon says China isn’t America’s biggest threat. It’s ‘the enemy within’ He added that the United States has a “mismanagement” issue. He called on fixing permitting, regulations, immigration, taxation, inner city school and the health care system. If those things are fixed, Dimon said, the country could grow 3% a year.      “What you heard today on stage was the amount of mismanagement is extraordinary. By state, by city, for pensions … and that stuff is going to kill us,” Dimon said, referencing comments made by earlier panelists at the forum…   https://www.msn.com/en-us/news/politics/jamie-dimon-says-china-isn-t-america-s-biggest-threat-it-s-the-enemy-within/ar-AA1FNG6c   OPEC+ Agrees on Third Oil Supply Surge Despite Russia’s Qualms – BBG on Saturday OPEC+ agreed to increase oil out by 411,000 barrels a day in July despite reservations from Russia… The difference in views between Moscow and Riyadh, the cartel’s two most powerful members, will come back into play on July 6 when they meet again to discuss output levels for August.   Today – Instead of the usual Sunday night buying for the expected Monday Rally, ESMs are -14.50; NQMs are -67.50; and USMs are –6/32 at 20:10 ET due to worsening geopolitics.  Barring worse news, Traders will play for the Monday Rally and start-of-June buying at or near the NYSE close.  There could also be a rally into Powell’s address at 13:00 ET.   Expected Econ Data: May S&P Global US Mfg. PMI 52.2; ISM Mfg. 49.2; April Construction Spending 0.4% m/m; Dallas Fed Pres Logan 10:15 Et, Chicago Fed Pres Goolsbee 12:45 ET, Powell 13:00 ET   S&P Index 50-day MA: 5605; 100-day MA: 5767; 150-day MA: 5826; 200-day MA: 5785 DJIA 50-day MA: 40,080; 100-day MA: 42,258; 150-day MA: 42,651; 200-day MA: 42,406 (Green is positive slope; Red is negative slope)   S&P 500 Index (5911.69 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 is negative; MACD is positive – a close above 5987.57 triggers a buy signal Daily: Trender is positive; MACD is negative – a close below 5758.34 triggers a sell signal Hourly: Trender and MACD are negative – a close above 5932.34 triggers a buy signal   @charliekirk11: GOP Sen. Josh Hawley says a Secret Service whistleblower told him Biden would get lost in his own closet in the mornings: “The guy, literally stumbling around in the White House residence, couldn’t find his way out of his own closet.”  Jill knew. Who else knew? https://x.com/charliekirk11/status/1928839763248787522   “They’re The Ones That Lied”: Chuck Todd Blames Democrats, Not MSM, for Biden Coverup “So, I do think this scandal should be more laser-focused on the Democratic party. I think the press is, again, I always look at the criticism of the press here – through the person that’s making the criticism and I think in some ways, there’s almost an eagerness to blame the press without looking at actually who should be blamed here – and it’s the leadership and frankly the members of the Biden administration and the leadership of the Democratic party – who, they’re the ones that lied.     “At the end of the day, no journalist is as good as their sources. At the end of the day the Democratic party lied to the American people. The leadership of the party lied to the American people, and that’s where this scandal should be centered.”…     As Jonathan Turley noted in December, even after Special Counsel Robert Hur declined criminal charges against Biden due to his diminished state, Democratic pundits and the press covered for him, claiming that he was sharp and effective… https://www.zerohedge.com/political/theyre-ones-lied-chuck-todd-blames-democrats-not-msm-biden-coverup   Either the regime media is lying about covering up Biden’s mental deficiencies or they stupidly believed the WH/Dem propaganda and talking points “instead of their lying eyes.” @CollinRugg: CNN cuts away as Joe Biden says he’s *not* mentally unstable, suggests he would have won the election, and says he could “beat the hell” out of Jake Tapper… Biden was also seen getting up close and personal with a young reporter. He also said that he was feeling great despite his cancer diagnosis.  Reporter: “There’s also been a lot of discussion recently about your mental and physical capabilities while you were in office.”  Biden: “I can’t walk, and I can beat the hell out of both of them.” https://x.com/CollinRugg/status/1928496966075559971   Fake tough guy Biden has a long history of threatening violence against foes.   Elon Musk: “I think the fundamental moral flaw of the left is empathy for the criminals but not empathy for the victims. There’s been too much of that and needs to stop. There’s been immense judicial overreach that is unconstitutional and it’s undermining people’s faith in the legal system. It needs to stop. It’s gone too far.”  https://x.com/america/status/1928525929636114849   Lefty NYC Councilwoman Gale Brewer demanding free dental care for illegal migrants: ‘I’m already out $8,000-$10,000’ https://trib.al/7W8p5Hg   @RedWave_Press: CNN reports BRUTAL poll numbers for Democrats, with just 16% of Americans believing the DNC has strong leaders and only 19% thinking the DNC gets things done. https://x.com/RedWave_Press/status/1929175767398699021   @StopAntisemites: Boulder, CO – authorities have arrested a man by the name of Mohamad Soliman in connection with a possible terror attack on a group of Jews. Soliman was said to have dressed up as a landscaper when he threw Molotov cocktails at the group, burning several including children. https://x.com/StopAntisemites/status/1929298441982685274     @disclosetv: Boulder Police Chief: “We’re not calling it a terror attack at this point,” “would be irresponsible” and “way too early to speculate motive.” https://x.com/disclosetv/status/1929302539264008619   Sequioa partner @shaunmmaguire: Reports of a deadly attack against pro-Israel protestors in Boulder, Colorado – Allegedly a Molotov Cocktail thrown with multiple killed.  THIS COMES ON THE SAME DAY THE MEDIA SPREAD A BLOOD LIBEL. Jews are not safe in America right now.   CNN accused of playing down terror attack in Boulder as hosts slam Kash Patel’s statement https://www.dailymail.co.uk/media/article-14770507/CNN-downplaying-Boulder-terror-attack.html   @EYakoby: Middle East migrants are now looting stores in Paris as the city burns.  The media tries to distract you with Gaza so that you don’t pay attention to the Islamist takeover. https://x.com/EYakoby/status/1929011508383568242   @DrEliDavid: Footage showing Hamas “police” opening fire and killing Gazans who are trying to approach the humanitarian aid distribution center.  https://t.co/aXxPArwvhY   @washingtonpost: At least 31 people were killed Sunday morning in southern Gaza, according to the Strip’s Health Ministry, when Israeli troops opened fire on crowds making their way to collect aid.      @BillAckman: @JeffBezos, this false story was debunked hours ago. How can the @washingtonpost  report it as true? This is worthy of an internal investigation.   @C_3C_3: Look at Obama’s reaction when he realizes he messed up and accidentally spoke the truth. “Three years ago, I visited Kenya as the first sitting American president to come from Kenya.”  7/16/18 This guy was President for 12 years.  Unbelievable.  https://x.com/C_3C_3/status/1928809836587704475   To close a $1B+ budget gap, Illinois Democrats are proposing a $1.50 tax on every delivery to a person.  This includes pizzas, Amazon, FedEx, UPS, DoorDash, and prescription medications!   Meet the ‘anti-Greta Thunberg’ weather nerd debunking climate myths and skewering the extremist elder statesmen https://nypost.com/2025/05/31/us-news/meet-the-anti-greta-thunberg-weather-nerd-debunking-climate-myths-and-skewering-the-extremist-elder-statesmen/

SWAMP STORIES FOR YOU TONIGHT

Biden Unaware Of Executive Orders ‘Signed’ By Autopen; Report

Friday, May 30, 2025 – 08:55 PM

Authored by S.A. McCarthy via The Washington Stand,

President Joe Biden issued 162 executive orders over the course of his Oval Office tenure, but according to a new report, most of them were signed by “autopen,” giving rise to concerns that unelected White House staffers may have had more say in shaping policy than the president. The report is furthering those concerns and suggesting that Biden may not have even been aware of the existence of the orders being signed in his name.

The American energy advocacy group Power the Future published the report Wednesday, examining eight Biden-era executive orders on climate change and U.S. energy policy, and found “no evidence” that Biden ever spoke about or acknowledged the existence of any of these orders. “Not in a press conference. Not in a speech. Not even a video statement,” Power the Future’s report stated. Power the Future Executive Director Daniel Turner said in a statement, “Americans deserve to know which unelected staffers or radical unnamed activists implemented sweeping change through an autopen. The Biden energy agenda destroyed the livelihoods of energy workers and fueled the record-high inflation that broke the budgets of millions of Americans.” He asked, “The question is simple, and deserves an immediate answer: what did Joe Biden know, and when did he know it?”

According to the Oversight Project, dedicated to government accountability, practically every order signed by Biden was signed via autopen, with the exception of his announcement withdrawing from the 2024 presidential election. The Oversight Project cited House Speaker Mike Johnson (R-La.), who questioned Biden on an executive order affecting liquefied natural gas (LNG) and reported that the president didn’t remember signing the order. “He looks at me, stunned, and he said, ‘I didn’t do that,’” Johnson recounted. He continued, “And I said to him, ‘Mr. President, yes you did, it was an executive order, like, you know, three weeks ago.’ And he goes, ‘No, I didn’t do that.’ … It occurred to me … he was not lying to me. He genuinely did not know what he had signed.”

“For investigators to determine whether then-President Biden actually ordered the signature of relevant legal documents, or if he even had the mental capacity to, they must first determine who controlled the autopen and what checks there were in place,” the Oversight Project wrote in a social media post. The accountability organization continued, “Given President Biden’s decision to revoke Executive Privilege for individuals advising Trump during his first Presidency, this is a knowable fact that can be determined with the correct legal process…”

The “autopen” has been the subject of significant controversy in recent years due to Biden’s excessive use of the technology. Devices have been around for centuries, allowing individuals to replicate their signature or sign multiple documents at once. Thomas Jefferson, for example, kept an early prototype, then called a “polygraph,” in the White House and another in his residence at Monticello. The device allowed a user to sign multiple documents at once but did require the signer to be present and to actively use the machine.

In the late 1930s, an automated version of the machine was developed, called the “autopen,” which would store a template of a signature that could be reproduced without the presence of the actual signer. The autopen became commercially available in the early 1940s and was quickly purchased by politicians, government officials, celebrities, and others. The first U.S. president to use an autopen was reportedly Harry Truman, although he only used the device to sign checks and answer mail. Likewise, most other presidents — such as John F. Kennedy, Richard Nixon, or Gerald Ford — who used an autopen relegated their use of the instrument to signing checks, correspondence, and autographs.

George W. Bush considered using the autopen to sign executive orders and legislation and even got the Department of Justice’s (DOJ’s) approval to do so, but still insisted on signing such documents himself, flying to Washington, D.C. to sign emergency legislation in 2005, for example. Barack Obama was the first president to use the autopen to sign legislation, giving his approval to sign Patriot Act extensions via autopen while he was visiting France in 2011, the National Defense Authorization Act while vacationing in Hawaii in 2012, and fiscal legislation in 2013.

President Donald Trump has openly refused to use autopen signatures for executive orders and other legal documents. “We may use it, as an example, to send some young person a letter because it’s nice,” Trump told reporters in March. Contrasting his limited use of the autopen against Biden’s much broader use, Trump added, “But to sign pardons and all of the things that he signed with an autopen is disgraceful.” Trump has also suggested that pardons — and, potentially, executive orders — signed by the Biden administration via autopen may be legally “void” if the president didn’t know what he was signing or didn’t authorize its signature.

The Washington Stand asked the DOJ about potential investigations and, if applicable, prosecutions of the Biden administration’s autopen use and was told, “No comment here.”

GREG HUNTER INTERVIEWING STEVE QUAYLE

Dire Global Economy, Dangerous Wars & Demonic AI – Steve Quayle

By Greg Hunter On May 31, 2025 In Market Analysis, Political Analysis97 Comments

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Renowned radio host, filmmaker, book author and archeological dig expert Steve Quayle is adding to his list of warnings for the world.  America’s economy may be improving slightly, but the rest of the global economy is dire.  Look no further than Japan’s exploding interest rates on its massive unpayable debt.  The country’s interest rates went from 0% to 3.5% in a very short time.  The article says, “Japan is becoming a case study in what happens when investors lose patience with massive deficits.”  Billionaire investor Ray Dalio is sounding the same alarm about US debt in what he calls a “critical situation.”  Quayle says, “You cannot keep heaping on debt and keep spending money when you don’t have the money to spend.  I think what Mr. Dalio is saying, and even Warren Buffett is selling $325 billion of Berkshire’s assets, they are telling you something.  For the record, Warren Buffett’s father was a bigtime gold bug. . . . Behind the scenes, the guys that know say Buffett is buying a lot of gold.  That is a big deal.  The sage of Omaha is making a dramatic change. . ..  When people don’t have money, they don’t spend money.  That’s why the housing market is crashing.  That’s why the automobile market is crashing. . .. Let’s take Japan, and we are talk about the Japanese carry trade.  Trillions and trillions of dollars were loaned out in the Japanese carry trade where you could borrow money from Japan. . ..  They were able to take, let’s say $5 billion, and they could take that and turn it into a $500 billion derivative windfall.  Now, the pied piper of perdition is here, and he’s going to be paid.”

Quayle has long warned about dangerous wars breaking out in multiple parts of the world.  India, Pakistan, China, EU, Russia and Iran are hotspots on low boil waiting to spill over into metal-on-metal contact.  New warnings are coming from Iran.  Steve says, “Iran made the statement that should Israel use nukes upon Iran, they will hold the United States responsible.  The United States will not escape, and Russia has made this clear, and China has made this clear. . .. When the first nuke goes off, and is it going to be Pakistan and India?  Will it be Israel, Iran?  Will it be in Ukraine?  When that happens, our world will change forever.”

Quayle goes on to say, “We are at war, and the NATO nations have gone totally insane.  We have seen France, Germany and Great Britian throwing nuclear terrorist threats at Russia, who is a superpower.  Putin recently made it clear to them that there is nothing you have that can counter our hypersonic weapons. . .. China’s navy just surpassed the US Navy. . .. I believe the US has been destroyed from within.  I think if the truth ever comes out, people will be astonished about how many of our politicos were purchased by China.  That was the whole purpose for blaming President Trump for the Russia hoax.”

Then the subject turned to Artificial Intelligence (AI) that is all the rage now.  Both Steve Quayle and Catherine Austin Fitts say the real masters of this world are “demonic.”  Quayle says, “AI, in my opinion, and the results of my researched opinion that is different than anybody in the world is this:  It is alien infestation. . .. When I say alien, I mean trans-dimensional parallel universe that is talked about in Ephesians 6.  When Google was looking for parallel universes, they started seeing ancient symbols . . .. the thing that started to flip them out was they ran into consciousness. . .. With AI, Catherine Austin Fitts is identifying the root of evil, and not just the fruit of evil. . . .  They cannot contain the supernatural AI evil by human wisdom. . .. people are going to get seduced, reduced and destroyed . . . .AI will turn into a vacuum cleaner for your soul.”

In closing, Quayle says, “Don’t believe the big lie, and that is Aliens made mankind.  The truth is the God of the Bible made us all. . . and Jesus is Lord and Savior.”

There is more in the 61-minute video.

There is an 8-minute video to explain how easy it is to ride out any terror attack or extreme storm.  You can get more information on Starlink and Sat phones, too, at Sat123.com or BeReady123.com.  You can also call 1-855-980-5830 and talk to a real human.

Join Greg Hunter of USAWatchdog.com as he goes one-on-one with Steve Quayle, who talks about how there are many ways for America to get knocked into severe trouble and dominated by demonic AI for 5.31.25.

After the Interview:  usawatchdog.com/dire-global-economy-dangerous-wars-demonic-ai-steve-quayle/  

You can get more information at Sat123.com or BeReady123.com or you can call 855-980-5830.

Get exclusive access to Steve Quayle’s “Glyph Project Translations” that he talked about in the interview.  It is a groundbreaking bi-monthly newsletter exposing the diabolical plans of Lucifer and his Fallen Angels by clicking here.