JUNE 3.BIG NEWS OF THE DAY: UKRAINE BLOWS UP KERCH BRIDGE CONNECTING CRIMEA FROM THE MAINLAND//GOLD CLOSED DOWN $19.85 TO $3353.00 WHILE SILVER WAS DOWN BY TWO CENTS//PLATINUM WAS UP $15.35 TO $1078.10 WHILE PALLADIUM WAS DOWN $9.95 TO $1062.75//TRUMP CONTINUES TO STATE THAT IRAN CANNOT USE ANY CENTRIFUGES TO PRODUCE NUCLEAR MATERIAL AND THUS IT SEEMS THAT THE USA AND ISRAEL ARE PREPARING TO STRIKE//ISRAEL VS HAMAS UPDATES RE THE AID DISTRIBUTION//ISIS IN SYRIA STRIKES KURDS AND GOVERNMENT PEOPLE//COVID UPDATES/VACCINE INJURY REPORT//MARK CRISPIN MILLER/PAUL ALEXANDER/NEWS ADDICTS/EVOL NEWS//SWAMP STORIES FOR YOU TONIGHT//
099 H DEUTSCHE BANK AG 377 118 H MACQUARIE FUTURES US 24 190 H BMO CAPITAL MARKETS 67 323 C HSBC 92 363 H WELLS FARGO SECURITI 31 555 C BNP PARIBAS SEC CORP 23 555 H BNP PARIBAS SEC CORP 1024 624 H BOFA SECURITIES 40 661 C JP MORGAN SECURITIES 26 570 690 C ABN AMRO CLR USA LLC 6 6 709 C BARCLAYS 112 905 C ADM 15 1
TOTAL: 1,207 1,207 MONTH TO DATE: 18,184
JPMORGAN STOPPED 570/1207
JUNE
GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024: 1207 CONTRACTs NOTICES FOR 120,700 OZ or 2.754 TONNES
total notices so far: 18,164 contracts for 1,818,400 OR 56.559 tonnes)
FOR JUNE
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SILVER NOTICES: 119 NOTICE(S) FILED FOR 0.595 MILLION OZ/
total number of notices filed so far this month : 2292 CONTRACTS (NOTICES) for 11.460 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD DOWN $19.85 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD:
HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.87 TONNES OF GOLD INTO THE GLD
INVENTORY RESTS AT 933.07 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.02 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: //A DEPOSIT OF 1.545 MILLION OZ INTO THE SLV//
CLOSING INVENTORY RESTS AT:
CLOSING INVENTORY: 461.421 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A HUMONGOUS SIZED 11,477 CONTRACTS TO 159,213 AND CONTINUING 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 GAIN OF $1.58 IN SILVER PRICING AT THE COMEX WITH RESPECT TO MONDAY’S TRADING. WE HAD A HUGE SIZED GAIN OF 13,327 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A 1850 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD NO LIQUIDATION OF T.A.S. CONTRACTS COMEX TRADING WITH RESPECT TO MONDAY’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 FAILED ON MONDAY WITH SILVER’S GAIN IN PRICE AS THE PRICE IS NOW SLIGHTLY ABOVE THE MAGIC NUMBER OF $34.40 SILVER SPOT PRICE. . BUT THIS WAS COUPLED WITH ANOTHER HUGE T.A.S. ISSUANCE OF 1461 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 HUGE 1850 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR HUGE 1461 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 GAINED A HUGE SIZED 13,891 CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE OF $1.58.
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 MONDAY NIGHT/TUESDAY MORNING: A HUGE 1461 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES
WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $1.58) AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SILVER LONGS FROM THEIR PERCH
WE HAD A 1850 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 9.90 MILLION OZ FOLLOWED BY TODAY’S 0.760 MILLION OZ QUEUE JUMP//NEW TOTAL STANDING 12.225 MILLION OZ!!
THUS:
INITIAL STANDING FOR JUNE: 9.90 MILLION OZ PLUS TODAY’S 0.760 MILLION OZ QUEUE JUMP = 12.225 MILLION OZ.
WE HAD:
/ HUGE COMEX OI GAIN+// A 1850 SIZED EFP ISSUANCE (/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1461 CONTRACTS)
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED A SMALL 564 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 2000 contracts: OR 10.000 MILLION OZ (1000 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 10.00 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: 10.00 MILLION OZ (NOTICE EFP ISSUANCE GETTING SMALLER AND SMALLER AS CENTRAL BANKS EXERCISE THESE AND TAKE DELIVERY)
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RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 11,477 CONTRACTS WITH OUR GAIN IN PRICE OF $1.59 IN SILVER PRICING AT THE COMEX// MONDAY.,. . THE CME NOTIFIED US THAT WE HAD A 1850 CONTRACT EFP ISSUANCE CONTRACTS: 1850 ISSUED FOR JULY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS.
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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: INITIAL 9.90 MILLION OZ PLUS 0.760 MILLIONOZ QUEUE JUMPING = 12.225 MILLION OZ
THE NEW TAS ISSUANCE MONDAY NIGHT (1461 ) 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 119 NOTICE(S) FILED TODAY FOR 0.595 MILLION OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL. IT IS NOW TIME FOR THE FBI TO ENTER THE COMEX AND ARREST THESE CROOKS EVEN THOUGH THE MAJORITY OF THE TRADING IS GOVERNMENT. THE BANKERS ARE COMPLICIT
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 10,449 OI CONTRACTS TO 419,236 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 3019 CONTRACTS //.
WE HAD A STRONG SIZED INCREASE IN COMEX OI (7430 CONTRACTS) . THIS OCCURRED DESPITE OUR GAIN OF $80.90 IN PRICE// MONDAY///.
MAY: SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:
FINAL 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 $80.90 GAIN IN PRICE WITH RESPECT TO MONDAY’S COMEX ///. WE HAD A STRONG SIZED GAIN OF 8230 OI CONTRACTS (25.59 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 INITIAL 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 1.642 TONNES//NEW STANDING 66.790 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 800 CONTRACT:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 416,217/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 159,213 CONTRACTS!!
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8230 CONTRACTS WITH 7430 CONTRACTS INCREASED AT THE COMEX// AND A SMALL SIZED 800 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 8230 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED AND CRIMINAL 1585 CONTRACTS
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS 800 CONTRACT) ACCOMPANYING THE STRONG SIZED INCREASE IN COMEX OI OF 7430 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 8230 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 1.642 TONNES QUEUE JUMPING//NEW STANDING 66.790 TONNES./
NEW STANDING FOR GOLD, JUNE CONTRACT AT 66.790 TONNES OF GOLD.
.
/ 3) HUGE T.A.S. LIQUIDATION , AS WE HAD 1)A $80.90 COMEX PRICE GAIN.. WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED WITH THAT HUGE GAIN IN PRICE AS WE HAD A STRONG GAIN OF 11,249 CONTRACTS ON OUR TWO EXCHANGES // /./ 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) STRONG SIZED COMEX OI GAIN// 5) SMALL SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER (800 CONTRACTS)/// FAIR T.A.S. ISSUANCE: 1585 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: 1250 CONTRACTS OR 125,000 OZ OR 3.888 TONNES IN 2 TRADING DAY(S) AND THUS AVERAGING: 625 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN2 TRADING DAY(S) IN TONNES 3.888 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 3.888 TONNES DIVIDED BY 3550 x 100% TONNES = 0.109% OF GLOBAL ANNUAL PRODUCTION
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 185.59 tonnes // FINAL
TOTAL: 2,847,25 TONNES/2022
JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!
FEB: 151.61 TONNES/FINAL
MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)
APRIL: 197.42 TONNES
MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)
JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)
JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)
AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL
SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,
DEC. 213.704 TONNES. A STRONG MONTH//
TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR
2024 AND 2025:
JAN ’24: 291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)
FEB’24: 201.947 TONNES
MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.
APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)
MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.
JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS
JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III)
AUGUST: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.
SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END JUST SHORT OF THE 3RD HIGHEST ISSUANCE EVER RECORDED.
OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)
NOV: 393.875 TONNES ( A HUGE MONTH////NOW SURPASSED THE PREVIOUS 3RD AND 2ND HIGHEST EVER RECORDED EX FOR PHYSICAL ISSUANCE TO BECOME THE 2ND HIGHEST EVER RECORDED
DEC 360.03 TONNES THIRD HIGHEST EVER RECORDED FOR EFP ISSUANCE
TOTAL 2024 YEAR. 3,597.846 TONNES
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. STILL A SMALL TO FAIR ISSUANCE FOR THE MONTH.
MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH
JUNE: 3.888 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 ROSE BY A HUGE SIZED 11,477 CONTRACTS OI TO 159,213 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 1850 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 1850 and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1850 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 11,477 CONTRACTS AND ADD TO THE 1850 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 13,327 CONTRACTS WITH THE GAIN IN PRICE OF $1.59 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 66.631 MILLION PAPER OZ
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS
ASIAN MARKETS THIS MORNING:
SHANGHAI CLOSED UP 14.49 PTS OR 0.43%
//Hang Seng CLOSED UP 354.52 PTS OR 1.53%
// Nikkei CLOSED DOWN 23.86 PTS OR 0.06% //Australia’s all ordinaries CLOSED UP 0.62%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1998 OFFSHORE CLOSED UP AT 7.1884/ Oil DOWN TO 62.70 dollars per barrel for WTI and BRENT DOWN TO 64.59 Stocks in Europe OPENED MOSTLY ALL RED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1998 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1884 AGAINST US DOLLAR/ AND THUS STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 7430 CONTRACTS TO A LOW OF 416,217 WITH OUR HUGE GAIN IN PRICE OF $80.90 WITH RESPECT TO MONDAY’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 (800 ). THE ENTIRE LOSS OF OI WAS DUE TO MONTH END SPREADERS COMBINING WITH T.A.S. SPREADERS.
THE CME ANNOUNCED MONDAY 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:
THE BANK OF ENGLAND
THE FEDERAL RESERVE BANK OF NEW YORK (NEED TO RETRIEVE THEIR LEASED GOLD FROM THE BIS)
THE COUNTERPARTY TO THE BANK OF ENGLAND’S EXCHANGE FOR RISK ARE BULLION BANKS THAT CANNOT VERIFY THAT THEIR GOLD IS UNENCUMBERED AND THUS THE BUYER, THE CENTRAL BANK OF ENGLAND, ASSUMES THE RISK OF THAT DELIVERY. THIS IS THE 5TH CONSECUTIVE MONTH FOR ISSUANCE OF EXCHANGE FOR RISK !!.(DEC THROUGH APRIL)
IN APRIL:
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 GAIN ON OUR TWO EXCHANGES OF 8230 CONTRACTS WITH OUR GAIN IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON MONDAY 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 FAIR 1585 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 225 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 800 EFP CONTRACT WAS ISSUED: : /AUGUST 800 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 800 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 :
ZERO LIQUIDATION OF OUR T.A.S. SPREADERS
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 TUESDAY MORNING//MONDAY NIGHT WAS A FAIR SIZED, 1585 CONTRACTS.
THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR OTHERWISE LIKE TODAY, ACCOMPLISHES TWO IMPORTANT ASPECTS FOR OUR CROOKS:
STALLS THE ADVANCE IN PRICE
LOWERS THEIR ADVANCING DERIVATIVE LOSSES.
MECHANICS OF T.A.S CONTRACTS/DECEMBER THROUGH MARCH, APRIL 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 MONDAY WITH THE HUGE GAIN 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 1.642 TONNES QUEUE JUMPING/TODAY = 66.790 TONNES (0 EX FOR RISK)
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
COMEX GOLD TRADING/JUNE CONTRACT MONTH
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $80.90/ /) AND THEY WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A HUGE SIZED GAIN IN OI FROM TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD SMALL T.A.S. SPREADER LIQUIDATION MONDAY 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
TUESDAY MORNING/MONDAY 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 MONDAY EVENING/TUESDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING SEVERAL WEEKS TO DELIVER
EXCHANGE FOR RISK EXPLANATION/FEB THROUGH /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.
ANALYSIS JUNE DELIVERY MONTH GOING FROM FIRST DAY NOTICE// JUNE COMEX CONTRACT
WE HAVE GAINED A STRONG SIZED TOTAL OF 25.59 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 MONDAY NIGHT’S QUEUE JUMP OF 52,800 OZ OR 1.642 TONNES OF GOLD//NEW STANDING FOR JUNE GOLD ADVANCES TO 66.790.
ALL OF THIS QUITE SMALL STANDING FOR JUNE WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $80.90
WE HAD A MONSTER 3019 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.
NET GAIN ON THE TWO EXCHANGES 8230 CONTRACTS OR 823,000 0Z (25.59 TONNES)
confirmed volume MONDAY 193,512. contracts: small volume////
Total monthly oz gold served (contracts) so far this month
18,184 notices 1,818,400 oz 56.559 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
dealer deposits: 0 entry
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DEPOSITS/CUSTOMER
we have 0 customer entries
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withdrawals: 1 entry
a) Out of Malca: 21,607.820 oz
total withdrawal: 21,607.820 oz
adjustments: 5// all dealer to customer
a) Ashai 44,282.358 oz
b) Brinks 468,723.238 oz
c) Loomis: 1939.771 oz
d) Malca: 540.768 oz (168 kilobars)
e) Manfra 96,485.697 oz (3001 kilobars)
AMOUNT OF GOLD STANDING FOR JUNE
THE FRONT MONTH OF JUNE STANDS AT 4516 CONTRACTS FOR A LOSS OF 1176 CONTRACTS. WE HAD 1704 CONTRACTS SERVED ON MONDAY SO QUEUE JUMPING CONTINUES IN EARNEST AT 528 CONTRACTS FOR 52,800 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 66.790 TONNES
JULY LOST 144 CONTRACTS TO STAND AT 6860
AUGUST GAINED 6992 CONTRACTS DOWN TO 323,144
We had 1207 contracts filed for today representing 1,20700 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 20 notices issued from their client or customer account. The total of all issuance by all participants equate to 1207 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 570 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 (18,184 X 100 oz ) to which we add the difference between the open interest for the front month of JUNE (4516 CONTRACTS) minus the number of notices served upon today (1207 x 100 oz per contract) equals 2,147,300 OZ OR 66.790 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 (18,184 x 100 oz +we add the difference for front month of JUNE (4516 OI} minus the number of notices served upon today (1,207 x 100 oz) which equals 2,147,300 OZ OR 66.7900 TONNES + 0 tonnes EX FOR RISK = 66.790 tonnes
TOTAL COMEX GOLD STANDING FOR JUNE.: 66.790 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!!
i) Out of Delaware 9739.400 oz ii) Out of HSBC 310,114.100 oz
total withdrawal 319,853.500 oz
ADJUSTMENTs 0
JPMorgan has a total silver weight: 214.825million oz/495.085 oz million or 43.35%
TOTAL REGISTERED SILVER: 158.100 MILLION OZ//.TOTAL REG + ELIGIBLE. 495.085Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE
silver open interest data:
FRONT MONTH OF JUNE /2025 OI: 272 OPEN INTEREST CONTRACTS FOR A LOSS OF 204 CONTRACTS. WE HAD 356 CONTRACTS SERVED ON MONDAY SO WE GAINED 152 CONTRACTS OR 0.760 MILLION OZ UNDERWENT A MASSIVE QUEUE JUMP IN ORDER TO TAKE DELIVERY OF PHYSICAL SILVER OVER ON THIS SIDE OF THE POND.
JULY GAINED 7483 CONTRACTS UP TO 117,815
AUGUST GAINED 14 CONTRACTS TO 408
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 119 or 0.595 MILLION oz
CONFIRMED volume; ON MONDAY 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 2292 X5,000 oz = 11.460 MILLION oz
to which we add the difference between the open interest for the front month of JUNE (272) AND the number of notices served upon today (119 )x (5000 oz)
Thus the standings for silver for the JUNE 2025 contract month: (2292) Notices served so far) x 5000 oz + OI for the front month of JUNE(272) minus number of notices served upon today (119)x 5000 oz equals silver standing for the JUNE contract month equating to 12.225 MILLION OZ .
New total standing: 12.225 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 3 WITH GOLD DOWN $19.85 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 2.87 TONNES OF GOLD INTO THE GLD. /// ///INVENTORY RESTS AT 933.07 TONNES
JUNE 2 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 3 WITH SILVER DOWN $0.02/HUGE CHANGES AT THE SLV:A DEPOSIT OF 1.545 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 461.421 MILLION OZ.
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
China is stepping up plans to replace the dollar with a gold-backed yuan. The Shanghai Gold Exchange is opening vaults abroad, and Shanghai futures access is opening up as well.
The laws of unintended consequences are alive and well: when President Trump tried to put China out of business with punitive tariffs, China immediately responded by accelerating tariff-free trade negotiations with Japan and South Korea. And President Xi then went on a whistlestop tour of the principal ASEAN nations. Shortly afterwards, the PBOC embarked on a policy of opening up gold and silver trading outside China with new vaults proposed in Hong Kong and Saudi Arabia.
What is this all leading to? And are there consequences for the dollar and the entire Western financial system?
The background
When China’s communist party opened up trade with the West in the early eighties, its embrace of capitalism was only partial. Following the death of Mao, there was an intellectual rethink — an acceptance that the economics of communism had failed. But politically, there was still the need to retain firm political control over China’s diverse ethnic groups for it to retain its civilisation and place in the world.
China’s leadership had watched the West’s cultural and moral decline, confirming that capitalism contained the seeds of its own destruction. While grasping capitalism’s benefits and the flexibility afforded by fiat currencies, China had to protect itself from the inevitable crisis towards which western capitalism headed.
In 1983 the CCP passed regulations appointing the Peoples Bank of China with sole responsibility for managing the nation’s gold and silver accumulation. And by 2002 the PBOC had obviously accumulated enough gold to permit citizens, hitherto banned from owning it to start buying gold and opened the Shanghai Gold Exchange. At the same time, gold mining and the importation of doré for refining and retention became government policy. Circumstantial evidence suggests that by 2002, the state had secretly accumulated about 20,000 tonnes of gold, a process which has since continued. And from 2002 to date, private sector withdrawals of gold from the SGE’s vaults total about 27,000 tonnes. Furthermore, there are additional holdings within the SGE’s vaults, backing commercial bank commitments and ETF holdings.
With all these accumulations, there are strict controls on gold exports, which for practical purposes can be regarded as not permitted. Both the state and its citizens are now fully prepared for the yuan to go onto a gold standard.
Similarly, China has accumulated silver stocks. Not only is she a major silver producer, but the reliance on doré imports has been greater than gold, with a reliance on price suppression through selling of futures. That is probably coming to an end.
The dollar’s outlook is deteriorating rapidly
The currency events predicted by China’s leaders in the early eighties are now coming true. They will have observed not just the cultural and moral decline of America, but the spiralling federal government debt as Obama, Trump, Biden and now Trump again have driven into a debt trap. For a future without a bankrupt America and European Union, China has assembled with Russia an alternative global economy in the Shanghai Cooperation Organisation and BRICS. The SCO and BRICS secure China’s commodity supplies and export markets independent from a Western financial and economic collapse.
However, China has been careful not to precipitate a currency and economic crisis for the West. Instead, she has simply observed a deteriorating situation, only acting to protect her own interests. But by her recent actions she is obviously in no doubt that the problems for the dollar are increasing rapidly, undermining its future value. Consequently, the PBOC has been reducing or hedging its dollar exposure, most recently by selling dollars for gold.
President Trump’s Liberation Day tariffs may have come as a shock, but China was fully prepared. Immediately following Trump’s liberation day on 2 April, China announced that it was fast tracking trade agreements with South Korea and Japan. In the week following, President Xi did a whistlestop tour of some of the principal ASEAN trade partnership nations to discuss and secure regional trade agreements. And in the week following that, the SGE announced that it planned to open vaults outside China to enable trade and gold to be exchanged for yuan.
So far, vaulting proposals have been announced in Hong Kong and Saudi Arabia. Doubtless, there will be more to follow. And then last week, the Shanghai Futures Exchange released draft proposals to open up domestic futures contracts to foreign brokers and investors in order to internationalise commodity trading in yuan.
Few if any of these developments have been reported by western media. Nevertheless, since 2 April taken together it is a speeding up of policies which suggests that China views a dollar collapse as now being relatively close — perhaps over the next year or two. It is becoming clear that the yuan is planned to replace the dollar, and the yuan will be insulated from an unstable fiat currency regime by being linked to gold.
The intention is for the link to gold to be put in place at short notice. But that will happen only when China knows that to not do so would threaten the yuan to be taken down with the entire post-Bretton Woods fiat currency system.
The implications for gold
The eventual reintroduction of gold as the only protection against a collapsing dollar-based fiat currency system has been increasingly seen and understood by central banks in the unaligned nations. They will be observing, with some alarm surely, the acceleration of China’s plans to internationalise the yuan as a dollar replacement and the mobilisation of gold to protect its value.
Put another way, it is no longer just China and her close partners who have been planning for a world without dollars. It is also observed by other state actors and even the major banks and investment houses in capital markets. There can be no doubt that global confidence in the fiat dollar is deteriorating more rapidly than is widely thought. The rush out of fiat dollars and into real money without counterparty risk, which is gold and potentially silver, is almost certain to increase, driving their dollar-prices significantly higher.
Presumably, the major bullion banks have already protected themselves by going long of gold. And following the withdrawal of leased gold from the Bank of England in recent months, central banks are refusing any more leasing, taking much needed liquidity away from paper markets. If the implications of all this were understood by traders, you would think that they would be long of futures. But they are not, as the chart of Comex open interest indicates:
It is really bizarre. There are enormous geopolitical events threatening to destroy the entire fiat currency system, and the hedge fund community seems oblivious to them! As stated above, the big bullion banks have probably covered themselves evidenced by their forecasts of significantly higher gold prices. The systemic problems are likely to be further down the food-chain. And systemic problems with counterparty failures look like being a racing certainty!
The Silver Squeeze Awakens: Options Market Screams for More
SLV just broke to decade highs (weekly). Upside skew is exploding, call spreads getting loaded. AI demand, gold catch-up, and gamma fuel—this could get wild.
The break out
SLV weekly closed at the highest levels since 2013 during yesterday’s squeeze. Note that the longer term trend channel remains intact.
Source: LSEG Workspace
Zooming in
SLV just above that “magical” resistance. A close slightly higher, and things could get dynamic to the upside.
Source: LSEG Workspace
Catch up?
Just closing a bit of the gap vs. gold could be a major catch up trade for silver.
Source: LSEG Workspace
The AI touch
You need silver to run those AI machines. Chart shows SLV vs. NVDA moving in close tandem.
Source: LSEG Workspace
Chasing silver upside
SLV upside skew is very well bid, trading way above the 90/10% cone. Do we see a gamma inflected squeeze eventually lead to a massive break out higher in SLV?
Source: Spotgamma
Say it with options
SLV upside skew makes call spreads very attractive as upside volatilities are extremely well bid. Scenario chart of the July 33/38 call spread, with an approx 7x max payout.
Source: LSEG Workspace
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
6 CRYPTOCURRENCY NEWS
ASIAN MARKETS THIS MORNING:
SHANGHAI CLOSED UP 14.49 PTS OR 0.43%
//Hang Seng CLOSED UP 354.52 PTS OR 1.53%
// Nikkei CLOSED DOWN 23.86 PTS OR 0.06% //Australia’s all ordinaries CLOSED UP 0.62%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1998 OFFSHORE CLOSED UP AT 7.1884/ Oil DOWN TO 62.70 dollars per barrel for WTI and BRENT DOWN TO 64.59 Stocks in Europe OPENED MOSTLY ALL RED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1998 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1884 AGAINST US DOLLAR/ AND THUS STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS /TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.1819 (CHINESE COMMUNIST PARTY MANIPULATED)
OFFSHORE YUAN: DOWN TO 7.1884 (CCP MANIPULATED)
SHANGHAI CLOSED UP 14.49 PTS OR 0.43%
HANG SENG CLOSED UP 354.52 PTS OR 1..53%
2. Nikkei closed DOWN 494.43 PTS OR 1.30%
3. Europe stocks SO FAR: MOSTLY ALL RED
USA dollar INDEX UP TO 98,86// EURO FALLS TO 1.1412 DOWN 41 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +1.486//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 142.86…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN 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 DOWN TO +2.4960/Italian 10 Yr bond yield DOWN to 3.489 SPAIN 10 YR BOND YIELD DOWN TO 3.092%
3i Greek 10 year bond yield UP TO 3.263
3j Gold at $3256.50 Silver at: 33.26 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 56 /100 roubles/dollar; ROUBLE AT 78.66
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 142.86// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.486% 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 0.8193 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: 4.415 DOWN 5 BASIS PTS…
USA 30 YR BOND YIELD: 4.941 DOWN 5 BASIS PTS/
USA 2 YR BOND YIELD: 3.920 DOWN 3 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 39.16
10 YR UK BOND YIELD: 4.6150 DOWN 5 PTS
10 YR CANADA BOND YIELD: 3.199 DOWN 4 BASIS PTS
5 YR CANADA BOND YIELD: 2.806 DOWN 3 PTS
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2a New York OPENING REPORT
2b European opening report
DXY is firmer ahead of JOLTS & Fed speak, EUR pressured post-HICP – Newsquawk US Market Open
Tuesday, Jun 03, 2025 – 06:34 AM
The EU did not receive a US letter demanding best trade negotiations offers by Wednesday, according to Reuters sources.
European bourses opened higher but tilted lower as the Dutch Government collapsed; US futures also in the red.
USD attempts to claw back recent losses, EUR/USD digests soft inflation data.
10yr JGB sale bolsters bonds and Bunds see some modest action on EZ HICP; Fed speak ahead.
Crude continues to gain while base metals falter on a recovering dollar and dismal Chinese PMI.
Looking ahead, US Durable Goods, JOLTS Job Openings, RCM/TIPP Economic Optimism, Speakers including Fed’s Goolsbee, Logan & Cook, ECB’s Lagarde. Earnings from CrowdStrike, Hewlett Packard, Dollar General & NIO.
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
TARIFFS/TRADE
US sent a “long” and “tough” list of requests to Vietnam in tariff negotiations, via Reuters citing sources; US requests Vietnam to effectively cut off its reliance on Chinese supply chains.
EU did not receive a US letter demanding best trade negotiations offers by Wednesday, according to Reuters sources.
US reportedly extends the tariff pause on some Chinese goods to August 31st, according to Bloomberg.
US President Trump posted “If other Countries are allowed to use Tariffs against us, and we’re not allowed to counter them, quickly and nimbly, with Tariffs against them, our Country doesn’t have, even a small chance, of Economic survival.”
US President Trump posts on Truth “Because of Tariffs, our Economy is BOOMING!”
UK Trade Minister Reynolds will meet USTR Greer on Tuesday to discuss the implementation of a trade deal that has been complicated by the announcement of fresh US tariffs on steel, according to Reuters.
China’s Chamber of Commerce to the EU expressed disappointment and serious concerns about the EU’s move to limit Chinese enterprises’ participation in the healthcare sector.
Chinese Foreign Ministry spokesperson says there is no information to share on a call between US President Trump and Chinese President Xi.
India and Europe are said to have agreed on almost half of trade deal talk chapters, according to FT.
Japan’s trade negotiator Akazawa said they are aiming to have cabinet discussions towards a US trade deal and are seeking to accelerate talks ahead of the mid-June G7 talks.
Japan is said to be considering cooperation with the US on the missile defence system “golden dome”, according to Nikkei.
EUROPEAN TRADE
EQUITIES
European bourses (STOXX 600 -0.3%) opened modestly firmer across the board, but sentiment soon slipped surrounding reports that Dutch Far Right Leader Wilders, confirmed to quit government coalition.
European sectors opened with a strong positive bias, but sentiment soon dwindled to display a negative picture in Europe. Telecoms took the top spot, then joined by Utilities; Financial Services was the morning’s outperformer, lifted by upside in UBS (+2.7%) after it received a broker upgrade at Jefferies. Basic Resources have been pressured today given the downside in metals prices following weaker-than-expected Chinese Caixin Manufacturing PMI.
US equity futures are broadly in negative territory, in-fitting with the risk tone and scaling back from some of the upside seen in the prior session.
USD is attempting to atone for recent losses after being sold yesterday on account of trade woes, ongoing fiscal concerns and a miss on ISM manufacturing PMI. Focus thus far has been on the trade front after a Reuters report noting that US President Trump’s administration wants countries’ “best offer” by Wednesday. Elsewhere, the White House Press Secretary said US President Trump and Chinese President Xi will likely talk this week; note, we have not seen any confirmation of this from the Chinese side. Focus now turns to US JOLTS Job Openings and Fed speak.
EUR is on the backfoot vs. the USD but just about holding above the 1.14 mark. Losses were extended in early European trade alongside a deterioration in the risk environment as news broke that Dutch Far Right Leader Wilders confirmed he is to quit the government coalition. Flash CPI metrics were cooler-than-expected with both the headline and core figures printing shy of expectations.
JPY is softer vs. the USD but to a lesser degree than peers. USD/JPY briefly reclaimed the 143 level but failed to hold onto the level alongside a deterioration in the risk environment and a slew of comments from BoJ Governor Ueda who reiterated the Bank will continue to raise rates if the economy and prices move in line with forecasts. On the trade front, Japan’s trade negotiator Akazawa said they are aiming to have cabinet discussions towards a US trade deal and are seeking to accelerate talks ahead of the mid-June G7 talks. USD/JPY is back on a 142 handle and has traded within a 142.39-143.27 range.
After a session of gains yesterday, GBP is softer vs. the USD but still managing to hold above the 1.35 mark. In terms of UK-specific newsflow, UK Trade Minister Reynolds will meet USTR Greer on Tuesday to discuss the implementation of a trade deal that has been complicated by the announcement of fresh US tariffs on steel, according to Reuters. Elsewhere, BoE’s Mann said the BoE cannot exactly offset high long-term rates caused by QT by cutting the bank rate further. Cable’s session low sits at 1.3511. Do note that the BoE’s Treasury Select Hearing on the BoE May MPR is ongoing. Just to pick out the key commentary so far; Breeden reiterated the Bank’s gradual and careful approach; Bailey highlighted that the May rate decision were domestic and not tariffs; Mann kept her usual hawkish tone and suggested Services is above what she viewed as consistent to get inflation back to target.
Antipodeans are both softer vs. the USD and at the bottom of the G10 leaderboard in a reversal of yesterday’s price action. Losses come as risk sentiment has deteriorated. RBA minutes noted that the Board considered keeping rates unchanged and cutting by 25bps or 50bps, but decided the case for a 25bps cut was the stronger one and preferred for policy to be cautious and predictable. Elsewhere, Australian data saw a surprise contraction in net exports contribution to GDP.
PBoC set USD/CNY mid-point at 7.1869 vs exp. 7.1872 (Prev. 7.1848).
Japan’s 10yr sale was met with strong demand overnight and a very small price tail, a well-received outing that sparked immediate upside in JGBs and weighed on yields. Japanese paper was unreactive to BoJ Governor Ueda comments overnight.
Bunds picked up at the resumption of trade, perhaps acknowledging ongoing trade uncertainty and the commentary from China in response to the EU on Monday taking action to limit China’s participation in healthcare. Thereafter, German paper picked up following the strong Japanese 10yr auction overnight, a move which has continued into the European morning. There was some choppy action on news that the Dutch government collapsed. As for EZ HICP, metrics were cooler-than-expected sparking some modest upside in Bunds but failed to test the earlier peak of 131.49.
As above, USTs picked up on the Japanese auction and has continued to grind higher since. As high as 110-25, but so far at least has stalled ahead of a double-top at 110-30 from the two sessions prior. Ahead, the docket features JOLTS, Factory Orders, RCM/TIPP, the latest Discount Rate Minutes and remarks from Fed’s Cook (voter), Goolsbee (2025) and Logan (2026).
Gilts began the day on the front-foot, given the outlined bullish bias. Specifically, it opened higher by 24 ticks and then climbed another 22 to take out last week’s 91.89 best and print a 92.01 peak for the day. Do note that the BoE’s Treasury Select Hearing on the BoE May MPR is ongoing. Just to pick out the key commentary so far; Breeden reiterated the Bank’s gradual and careful approach; Bailey highlighted that the May rate decision were domestic and not tariffs; Mann kept her usual hawkish tone and suggested Services is above what she viewed as consistent to get inflation back to target.
UK sells GBP 1.25bln 4.0% 2063 Gilt: b/c 3.51x (prev. 2.8x), average yield 5.281% (prev. 5.076%), tail 0.3bps (prev. 0.3bps)
Crude is trading in positive territory and has been trading with a modest upward bias throughout the European morning. This comes in contrast to a mostly downbeat mood across markets, with energy traders still very much focused on the current geopolitical backdrop with Iran dismissing the US proposal for a nuclear deal as “unrealistic”. Brent Aug’25 currently trading towards the mid-point of a USD 64.68-65.09/bbl range. Do note that Kpler’s Bakr reported that there was no OPEC+ discussion about a higher hike than the 411k bpd over the weekend – but the complex was little moved on this.
Precious metals are broadly in the red, with some modest underperformance in spot silver. As for spot gold, the yellow-metal was subdued overnight and scaled back from the upside seen in the prior session; it has traded sideways throughout the European morning. XAU/USD currently trades in a USD 3,351.81-3,392.10/oz range.
Base metals are entirely in negative territory, in reaction to weaker-than-expected Chinese Caixin Manufacturing PMI data and as the Dollar moves a little higher. 3M LME Copper currently trades in a USD 9,521.55-9,610.90/t range.
“During the OPEC-plus meeting on Saturday with the 8 member states, there were no discussions at all about a higher hike than the 411kbd, according to delegates attending the meeting”, via Kpler’s Bakr.” Russia did propose a pause which was also supported by Oman, but quick consensus was reached to go ahead with the 411kbpd addition in July”.
Swiss CPI YY (May) -0.1% vs. Exp. -0.1% (prev. 0.0%); CPI MM (May) 0.1% vs. Exp. 0.1% (prev. 0.0%)
French Budget Balance (Apr) -69.3B (Prev. -47.03B)
EU HICP Flash YY (May) 1.9% vs. Exp. 2.0% (Prev. 2.2%); services inflation 3.7% (prev. 4.0%)
EU HICP-X F, E, A, T Flash YY (May) 2.3% vs. Exp. 2.5% (Prev. 2.7%)
EU HICP-X F&E Flash YY (May) 2.4% vs. Exp. 2.5% (Prev. 2.7%)
EU Unemployment Rate (Apr) 6.2% vs. Exp. 6.2% (Prev. 6.2%, Rev. 6.3%)
NOTABLE EUROPEAN HEADLINES
Dutch Far Right Leader Wilders, confirms to quit government coalition (as expected), according to NOS. Dutch Far Right leader Wilders tells PM Schoof that all of his ministers will quit government.
Dutch Cabinet scheduled to meet at 13:30 CET (12:30 BST) to “discuss next steps”.
OECD GDP Forecasts: Forecasts generally downgraded, with the exception of the EZ (maintained) and Japan 2026 (upgraded). Click for full details
Polish Parliament Speaker has proposed a government confidence vote to take place next week.
BoE TSC
BoE Governor Bailey says the key factors for the May rate decision were domestic and not tariffs; have not seen particular inflation surprises. Labour market has loosened somewhat, pay growth is above levels consistent with the 2% inflation target but lower than expected in February. Gradual and careful remain “my guide for rates”. Savings to public finances through changing reserve remuneration by tiering would be illusory.
BoE’s Breeden says sees merit in maintaining a gradual and careful approach to adjusting the policy stance. As the BoE approaches a neutral policy stance, evidence of restrictiveness will become less clear, and the decision to further loosen policy will require a greater degree of certainty that inflation is on track. Has gained greater confidence that the disinflationary process is progressing at a steady pace. The economy appears to be moving gradually into excess supply. Sees downside risks from greater trade diversion, but also sees upside risks from the introduction of supply chain frictions globally. Thinks this latter channel is likely under-represented in models. Tariffs expected to have a small impact on the UK economy. In March, “I expected that I would vote to cut again in May”.
BoE’s Mann said must consider interactions of QT and rate decisions, while she added that the BoE cannot exactly offset high long-term rates caused by QT by cutting the bank rate further and extra cuts to short rates to compensate for QT could run counter to the need to purge structural rigidities in the UK labour and product markets. Furthermore, she expects these issues will be part of MPC considerations before the September QT decision.
BoE’s Dhingra says risks to inflation and growth are tilted to the downside; would have preferred the bank rate to followed a different path. Overly restrictive policy risks supressing demand and disincentivising investment.
NOTABLE US HEADLINES
US President Trump posted on “Passing THE ONE, BIG, BEAUTIFUL BILL is a Historic Opportunity to turn our Country around after four disastrous years under Joe Biden. We will take a massive step to balancing our Budget by enacting the largest mandatory Spending Cut, EVER, and Americans will get to keep more of their money with the largest Tax Cut, EVER, and no longer taxing Tips, Overtime, or Social Security for Seniors”.
GEOPOLITICS
MIDDLE EAST
US President Trump posted on Truth Social “The AUTOPEN should have stopped Iran a long time ago from “enriching.” Under our potential Agreement — WE WILL NOT ALLOW ANY ENRICHMENT OF URANIUM!”
An Iranian official reportedly said the US nuclear proposal is unrealistic, according to CNN.
US State Department said Secretary of State Rubio spoke with Saudi’s Foreign Minister and discussed Ukraine and Russia talks, stabilisation in Syria and the situation in Gaza.
RUSSIA-UKRAINE
Russian-controlled parts of Zaporizhzhia in Ukraine lost power as a result of Ukraine’s attacks although the power cut-off had not affected the Zaporizhzhia nuclear power plant, according to Russian agencies.
Ukraine’s Energy Minister says Russian Rocket attack hit a large energy generation facility in overnight attack
CRYPTO
Bitcoin is a little firmer and trades just shy of USD 106k whilst Ethereum moves higher and tops USD 2.6k.
APAC TRADE
APAC stocks traded mostly higher as the region took impetus from the rebound on Wall St but with gains capped following disappointing Chinese Caixin Manufacturing data and as trade uncertainty lingered.
ASX 200 edged higher amid strength in mining stocks but with further upside limited as defensives lagged and after mixed data releases including a surprise contraction in net exports contribution to GDP.
Nikkei 225 kept afloat but lacked firm conviction after recent currency fluctuations and after a deluge of comments from BoJ Governor Ueda who reiterated they will continue to raise interest rates if the economy and prices move in line with forecasts, but also noted there was no preset plan for rate hikes and that they will raise interest rates only if the economy and prices turn up again and outlooks are likely to be realised.
Hang Seng and Shanghai Comp were underpinned after the US reportedly extended the tariff pause on some Chinese goods to August 31st, while the White House Press Secretary stated that US President Trump and Chinese President Xi will likely talk this week, although the upside was restricted in the mainland given the lack of confirmation by Beijing regarding Trump-Xi talks and as participants also digested disappointing Caixin Manufacturing PMI data which showed its first contraction in eight months and printed its weakest since September 2022.
NOTABLE ASIA-PAC HEADLINES
BoJ Governor Ueda said Japan’s economy is modestly recovering despite some weakness seen, corporate profits are improving and business sentiment is solid, but noted the slowdown in the overseas economy pressures corporate profits and the pace of economic growth is expected to slow down. Ueda reiterated that they will continue to raise interest rates if the economy and prices move in line with forecasts and they will conduct monetary policy appropriately depending on price, and economic developments to achieve the 2% target in a stable and sustainable manner. However, he noted it is important to make judgments without any preset ideas and that they said in the Outlook Report that the baseline scenario could change significantly, as well as stated there is no preset plan for rate hikes and they will raise interest rates only if the economy and prices turn up again and outlooks are likely to be realised. Furthermore, Ueda said they will review bond taper plans at the next policy meeting taking into account the opinions of bond market participants and he is aware of the market view that some investors’ appetite for super-long JGBs has declined.
BoJ Governor Ueda says domestic and overseas economic developments have changed shape since Liberation day, which the levels exceeded many expectations; price environment is becoming more complex. Uncertainty is high; could weigh on corporate and household spending. Must look at underlying inflation, which excludes direct cost-push factors, in judging whether Japan sustainably achieves the BoJ’s 2% inflation target.
RBA Minutes from the May meeting stated the Board considered keeping rates unchanged and cutting by 25bps or 50bps but decided the case for a 25bps cut was the stronger one and preferred policy to be cautious and predictable. RBA said inflation is still not at the mid-point of the target band and the labour market is still tight, while the Board agreed developments in the domestic economy alone warranted a rate cut and progress on inflation meant policy did not need to be as restrictive. Furthermore, it was stated that a larger move might offer more insurance against adverse global scenarios although the Board was not persuaded that 50bps was needed and US tariffs had not yet affected the Australian economy, while it would be challenging for businesses and households if aggressive easing had to be reversed and the Board judged it was not yet time to move monetary policy to an expansionary setting.
DATA RECAP
Chinese Caixin Manufacturing PMI Final (May) 48.3 vs. Exp. 50.6 (Prev. 50.4)
Australian Current Account Balance (AUD)(Q1) -14.7B vs. Exp. -13.1B (Prev. -12.5B)
Australian Net Exports Contribution (Q1) -0.1% vs Exp. 0.0% (Prev. 0.2%)
Australian Business Inventories (Q1) 0.8% vs. Exp. 0.1% (Prev. 0.1%)
Australian Gross Company Profits (Q1) -0.5% vs. Exp. 1.3% (Prev. 5.9%)
2c) Asian report
Positive APAC session capped by disappointing Caixin PMI, Eurostoxx +0.1%, ahead of EZ inflation data – Newsquawk Europe Market Open
Tuesday, Jun 03, 2025 – 01:09 AM
APAC stocks traded mostly higher as the region took impetus from the rebound on Wall St; gains capped by disappointing Chinese Caixin Manufacturing data.
US President Trump’s administration wants countries’ “best offer” by Wednesday in tariff talks, according to Reuters.
White House Press Secretary said US President Trump and Chinese President Xi will likely talk this week.
European equity futures indicate a slightly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.2% on Monday.
DXY is a touch higher after yesterday’s session of losses, EUR/USD remains on a 1.14 handle, antipodeans lag.
Looking ahead, highlights include Swiss CPI, EZ HICP, Unemployment Rate, US Durable Goods, JOLTS Job Openings, RCM/TIPP Economic Optimism, Fed’s Goolsbee, Logan & Cook, ECB’s Lagarde, BoE’s Bailey, Breeden, Dhingra & Mann, Supply from UK & Germany.
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 ultimately closed the session in the green with the Nasdaq leading the gains as outperformance in the tech sector kept indices bid once cash equity trade was underway, while energy stocks were also supported following the OPEC+ 8 decision and geopolitical escalation over the weekend including Ukraine’s strike on Russian bombers with drones well inside of Russia and Iran dismissed the US proposal for a nuclear deal as “unrealistic”.
SPX +0.41% at 5,936, NDX +0.71% at 21,492, DJI +0.08% at 42,305, RUT +0.19% at 2,070.
US reportedly extends the tariff pause on some Chinese goods to August 31st, according to Bloomberg.
US President Trump’s administration wants countries’ “best offer” by Wednesday in tariff talks, according to Reuters citing a draft of the request.
US President Trump posted “If other Countries are allowed to use Tariffs against us, and we’re not allowed to counter them, quickly and nimbly, with Tariffs against them, our Country doesn’t have, even a small chance, of Economic survival.”
US President Trump posts on Truth “Because of Tariffs, our Economy is BOOMING!”
White House Press Secretary said US President Trump and Chinese President Xi will likely talk this week, while she also commented that the EU came to the table due to President Trump’s tariff threat.
UK Trade Minister Reynolds will meet USTR Greer on Tuesday to discuss the implementation of a trade deal that has been complicated by the announcement of fresh US tariffs on steel, according to Reuters.
China’s Chamber of Commerce to the EU expressed disappointment and serious concerns about the EU’s move to limit Chinese enterprises’ participation in the healthcare sector.
India and Europe are said to have agreed on almost half of trade deal talk chapters, according to FT.
Japan’s trade negotiator Akazawa said they are aiming to have cabinet discussions towards a US trade deal and are seeking to accelerate talks ahead of the mid-June G7 talks.
NOTABLE HEADLINES
Fed’s Goolsbee (2025 voter) said so far they’ve had excellent inflation reports and surprisingly little direct impact of tariffs and don’t know if that will remain true in the next 1-2 months. Furthermore, he said he is a little gun-shy about arguing that tariffs will have a transitory effect on inflation and noted that the recent PCE inflation print may have been the ‘last vestige’ of pre-tariff impact.
US President Trump posted on “Passing THE ONE, BIG, BEAUTIFUL BILL is a Historic Opportunity to turn our Country around after four disastrous years under Joe Biden. We will take a massive step to balancing our Budget by enacting the largest mandatory Spending Cut, EVER, and Americans will get to keep more of their money with the largest Tax Cut, EVER, and no longer taxing Tips, Overtime, or Social Security for Seniors”.
APAC TRADE
EQUITIES
APAC stocks traded mostly higher as the region took impetus from the rebound on Wall St but with gains capped following disappointing Chinese Caixin Manufacturing data and as trade uncertainty lingered.
ASX 200 edged higher amid strength in mining stocks but with further upside limited as defensives lagged and after mixed data releases including a surprise contraction in net exports contribution to GDP.
Nikkei 225 kept afloat but lacked firm conviction after recent currency fluctuations and after a deluge of comments from BoJ Governor Ueda who reiterated they will continue to raise interest rates if the economy and prices move in line with forecasts, but also noted there was no preset plan for rate hikes and that they will raise interest rates only if the economy and prices turn up again and outlooks are likely to be realised.
Hang Seng and Shanghai Comp were underpinned after the US reportedly extended the tariff pause on some Chinese goods to August 31st, while the White House Press Secretary stated that US President Trump and Chinese President Xi will likely talk this week, although the upside was restricted in the mainland given the lack of confirmation by Beijing regarding Trump-Xi talks and as participants also digested disappointing Caixin Manufacturing PMI data which showed its first contraction in eight months and printed its weakest since September 2022.
US equity futures (ES -0.4%, NQ -0.3%) mildly retreated following yesterday’s rebound and amid the ongoing tumultuous trade-related environment.
European equity futures indicate a slightly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.2% on Monday.
FX
DXY regained some composure after the prior day’s selling pressure which was spurred by soft data and ongoing trade uncertainty following recent punchy US-China rhetoric, although there have been some more amicable reports with the US extending exemptions from Section 301 tariffs for some Chinese goods including Covid-related and solar manufacturing products, while the White House Press Secretary stated that President Trump and Chinese President Xi will likely talk this week, although the Chinese side have yet to confirm or acknowledge this.
EUR/USD faded some of yesterday’s gains but remained at the 1.1400 territory after having benefitted on Monday from the dollar’s demise, while participants also look ahead to Eurozone HICP data and Unemployment Rate scheduled for today, as well as the ECB meeting later in the week.
GBP/USD pulled back from recent highs with price action largely influenced by the moves in the greenback and as the latest comments from BoE’s Mann provided little to shift the dial, while UK Trade Minister Reynolds is set to meet with USTR Greer on Tuesday to discuss the implementation of a trade deal that has been complicated by the announcement of fresh US tariffs on steel.
USD/JPY reclaimed the 143.00 handle amid the recovery in the dollar, the mostly positive risk appetite and a slew of comments from BoJ Governor Ueda.
Antipodeans retreated after mixed data releases from both sides of the Tasman and as the RBA Minutes noted that the Board considered keeping rates unchanged and cutting by 25bps or 50bps, but decided the case for a 25bps cut was the stronger one and preferred for policy to be cautious and predictable.
PBoC set USD/CNY mid-point at 7.1869 vs exp. 7.1872 (Prev. 7.1848).
FIXED INCOME
10yr UST futures gradually edged higher following the recent choppy performance amid trade uncertainty and soft US data, while participants now look ahead to more data releases stateside and several Fed speakers.
Bund futures continued to edge higher after yesterday’s whipsawing and with a Schatz auction scheduled later today.
10yr JGB futures were initially subdued with little reaction seen to a slew of comments from BoJ Governor Ueda although prices were later supported following stronger demand at the latest 10yr JGB auction which resulted in the highest bid-to-cover in more than a year.
COMMODITIES
Crude futures remained afloat amid the mostly positive risk environment and the current geopolitical backdrop with Iran dismissing the US proposal for a nuclear deal as “unrealistic”.
Spot gold pulled back as the dollar rebounded and after yesterday’s rally stalled shy of the USD 3,400/oz level.
Copper futures retreated despite the return to market of its largest buyer with prices not helped by the disappointing Chinese Caixin Manufacturing PMI data.
CRYPTO
Bitcoin ultimately declined but saw two-way price action on both sides of the USD 106k level.
NOTABLE ASIA-PAC HEADLINES
BoJ Governor Ueda said Japan’s economy is modestly recovering despite some weakness seen, corporate profits are improving and business sentiment is solid, but noted the slowdown in the overseas economy pressures corporate profits and the pace of economic growth is expected to slow down. Ueda reiterated that they will continue to raise interest rates if the economy and prices move in line with forecasts and they will conduct monetary policy appropriately depending on price, and economic developments to achieve the 2% target in a stable and sustainable manner. However, he noted it is important to make judgments without any preset ideas and that they said in the Outlook Report that the baseline scenario could change significantly, as well as stated there is no preset plan for rate hikes and they will raise interest rates only if the economy and prices turn up again and outlooks are likely to be realised. Furthermore, Ueda said they will review bond taper plans at the next policy meeting taking into account the opinions of bond market participants and he is aware of the market view that some investors’ appetite for super-long JGBs has declined.
RBA Minutes from the May meeting stated the Board considered keeping rates unchanged and cutting by 25bps or 50bps but decided the case for a 25bps cut was the stronger one and preferred policy to be cautious and predictable. RBA said inflation is still not at the mid-point of the target band and the labour market is still tight, while the Board agreed developments in the domestic economy alone warranted a rate cut and progress on inflation meant policy did not need to be as restrictive. Furthermore, it was stated that a larger move might offer more insurance against adverse global scenarios although the Board was not persuaded that 50bps was needed and US tariffs had not yet affected the Australian economy, while it would be challenging for businesses and households if aggressive easing had to be reversed and the Board judged it was not yet time to move monetary policy to an expansionary setting.
DATA RECAP
Chinese Caixin Manufacturing PMI Final (May) 48.3 vs. Exp. 50.6 (Prev. 50.4)
Australian Current Account Balance (AUD)(Q1) -14.7B vs. Exp. -13.1B (Prev. -12.5B)
Australian Net Exports Contribution (Q1) -0.1% vs Exp. 0.0% (Prev. 0.2%)
Australian Business Inventories (Q1) 0.8% vs. Exp. 0.1% (Prev. 0.1%)
Australian Gross Company Profits (Q1) -0.5% vs. Exp. 1.3% (Prev. 5.9%)
GEOPOLITICS
MIDDLE EAST
US President Trump posted on Truth Social “The AUTOPEN should have stopped Iran a long time ago from “enriching.” Under our potential Agreement — WE WILL NOT ALLOW ANY ENRICHMENT OF URANIUM!”
US nuclear deal offer allows Iran to enrich uranium at low levels and doesn’t include full dismantlement of the nuclear facilities, according to Axios. However, it was separately reported that an Iranian official said the US proposal is unrealistic, according to CNN.
US State Department said Secretary of State Rubio spoke with Saudi’s Foreign Minister and discussed Ukraine and Russia talks, stabilisation in Syria and the situation in Gaza.
RUSSIA-UKRAINE
Ukrainian President Zelensky said Ukraine and Russia agreed to exchange 1000 military servicemen each and there could be an additional swap of 200 each, while Ukraine and Russia are to exchange lists for the POW exchange this week.
Ukrainian President Zelenskiy’s Chief of Staff said Russia is doing everything possible to continue the war and urges new sanctions now.
Russia sees the beginning of a complete withdrawal of Ukrainian troops from Russian territory, including Donetsk, Luhansk, Zaporizhzhia and Kherson regions, as one of the options for establishing a ceasefire, according to Interfax citing the memorandum. The first part of the Russian memorandum envisages the lifting of all existing and the rejection of new economic sanctions and restrictive measures between Russia and Ukraine, while Russia proposes recognition of Crimea, Luhansk, Donetsk, Zaporizhzhia, and Kherson regions as part of Russia and complete withdrawal of Ukrainian military units from these territories.
Russian-controlled parts of Zaporizhzhia in Ukraine lost power as a result of Ukraine’s attacks although the power cut-off had not affected the Zaporizhzhia nuclear power plant, according to Russian agencies.
EU/UK
NOTABLE HEADLINES
BoE’s Mann said must consider interactions of QT and rate decisions, while she added that the BoE cannot exactly offset high long-term rates caused by QT by cutting the bank rate further and extra cuts to short rates to compensate for QT could run counter to the need to purge structural rigidities in the UK labour and product markets. Furthermore, she expects these issues will be part of MPC considerations before the September QT decision.
3 .ASIA
3A NORTH KOREA/SOUTH KOREA
3B JAPAN
3C CHINA
4..EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
FRANCE/ISRAEL/HAMAS
School in Lyon set on fire, sprayed with antisemitic and pro-Palestine graffiti
“In Paris, synagogues and the Shoah Memorial: desecrated. In Lyon: a school set on fire and defaced with swastikas.”
By MATHILDA HELLERJUNE 2, 2025 23:12Updated: JUNE 2, 2025 23:13
French police in Villeurbanne, near Lyon, central France, August 31, 2019. (illustrative)(photo credit: EMMANUEL FOUDROT/ REUTERS)
A primary school in Lyon, France, was set on fire and daubed with antisemitic and pro-Palestine slogans and swastikas, the local prefecture reported on Sunday.
The graffiti was found in three classrooms in the Nové-Josserand school, but the fire only affected the outdoor toilets.
Mohamed Chihi, deputy for tranquility, safety, and security at Lyon City Hall, said, “Antisemitic graffiti, swastikas, attempted arson: these acts target our school, and therefore our Republic.
JPost Videos
“The city condemns these actions in the strongest possible terms. It will file a complaint.”
Investigation opened into the antisemitic incident
Chihi added that an investigation had been opened to determine the incentive behind the attack, given that the school had no established connections to the Jewish community.
Antisemitic graffiti on an Australian Jewish cafe (illustrative) (credit: screenshot)
Yonathan Arfi, the head of the Representative Council of Jewish Institutions of France (CRIF), wrote on X/Twitter that “The Palestinian cause is used as justification for burning down a school” and the “Nazification of Israel serves as fuel for crass antisemitism.”
CRIF Auvergne-Rhône-Alpes “condemned this hateful attack in the strongest possible terms” and connected it to the vandalism of three synagogues, a restaurant, and the Shoah memorial in Paris on Friday: “In Paris, synagogues and the Shoah Memorial: desecrated. In Lyon: a school set on fire and defaced with swastikas.”
“This is not one ‘tag too many,’ nor an isolated act. It is a signal. A passage to action. Those who dream of a France without Jews are now setting fire to schools.”
Thomas Rudigoz, a former MP and metropolitan councilor, said, “Just steps from the Montluc prison memorial, a Lyon school has been targeted by swastikas, anti-Semitic graffiti, and a fire. Hatred is reborn where memory should protect. Shame on those who stir up hatred.”
Carole Delga, the President of the Occitane region, said, “From Paris to Lyon, our Republic is once again ravaged by hatred. Shame on those who minimize these facts and fuel this climate.”
END
HOLLAND
Pro-Israel Dutch far Right leader Wilders quits government coalition
Wilders’ coalition partners responded with disbelief and anger.
By REUTERSJUNE 3, 2025 10:38Updated: JUNE 3, 2025 13:18
Dutch far-right politician and leader of the PVV party, Geert Wilders speaks to the press following the exit poll and early results in the Dutch parliamentary elections, in The Hague, Netherlands November 22, 2023(photo credit: REUTERS/YVES HERMAN)
Dutch right-wing leader Geert Wilders‘ PVV party left the governing coalition on Tuesday, in a move that is set to topple the government and will likely lead to new elections.
Wilders said his coalition partners were not willing to support his ideas on halting asylum migration.
“No signature under our asylum plans. The PVV leaves the coalition,” Wilders said in a post on X.
Wilders said he had informed Prime Minister Dick Schoof that all ministers from his PVV party would quit the government. Schoof has not yet reacted to the resignation.
Wilders’ surprise move ends an already fragile coalition, which has struggled to reach any consensus since its installation last July.
Dutch far-right leader Geert Wilders speaks to media in The Hague, Netherlands after polls closed in an EU election on June 6, 2024. (credit: Lewis Macdonald / Reuters)
It will likely bring new elections in a few months, adding to political uncertainty in the euro zone’s fifth-largest economy.
It will likely also delay a decision on a possibly historic increase in defense spending to meet new NATO targets.
And it will leave the Netherlands with only a caretaker government when it receives NATO country leaders for a summit to decide on these targets in The Hague later this month.
Coalition expresses disbelief, anger
Wilders’ coalition partners responded with disbelief and anger.
“This is making us look like a fool,” the leader of the conservative VVD party, Dilan Yesilgoz, said. “There is a war on our continent. Instead of meeting the challenge, Wilders is showing he is not willing to take responsibility.”
“This is incredible,” the leader of the centrist NSC party, Nicolien van Vroonhoven, said. “It is irresponsible to take down the government at this point.”
With PVV out, the other parties have the theoretical option to try to proceed as a minority government. They are not expected to, and have yet to confirm it.
Wilders won the most recent election in the Netherlands, but recent polls show he has lost support since joining the government.
Polls now put his party at around 20% of the votes, roughly at par with the Labour/Green combination that is currently the second-largest in parliament.
Wilders had last week demanded immediate support for his proposals to completely halt asylum migration, send Syrian refugees back to their home country, and close asylum shelters.
Coalition partners did not embrace his idea and said it was up to the migration minister from Wilders’ party to work on specific proposals. Wilders was not part of the government himself as its leader or a minister.
He was convicted of discrimination after he insulted Moroccans at a campaign rally in 2014, and only managed to strike a coalition deal with three other conservative parties last year after he gave up his bid to become prime minister.
Instead, the cabinet was led by the independent and unelected Schoof, a career bureaucrat who had led the Dutch intelligence agency AIVD and was the senior official at the Justice Ministry.
END
GERMANY
This is intersting
“We Must Not Hesitate” – German Justice Minister Open To AfD Ban
Federal Justice Minister Stefanie Hubig, of the left-wing Social Democrats (SPD), is keeping the hope for a ban on the Alternative for Germany (AfD) alive, saying a ban should still be on the table.
She told German newspaper Rheinische Post a ban should not be “dismissed for political reasons alone.” She also brushed away concerns that the AfD could “once again portray itself as a victim” if ban proceedings are initiated.
Most of the main German parties have advocated for an AfD ban, including many top politicians from the SPD. However, a vote must first pass in the German parliament, the Bundestag, and then be approved by the Bundesrat, which is represented by the 16 German states. From there, it would need to go to the top German court, the Constitutional Court, which could still reject such a ban as unconstitutional — a risk many opposed to a ban have cited for not moving forward with such a proposal.
Hubig acknowledges that the legal hurdles remain high. A ban of the largest opposition party in the country, and one that has reached first place in some polls, would potentially end German democracy, but this is not deterring many from the German political establishment.
Hubig said that it must be examined whether the AfD “is systematically and actively opposing the free democratic order, and whether this can be proven.” She said that if such a finding is determined, the government is obligated to take action.
“Then we must not hesitate,” she said, saying that the Basic Law, the German constitution, is her “compass.”
She also claimed in the same interview that legal action against the AfD should not replace political debate.
“Because many people who vote for this party are not right-wing extremists. As democratic parties, we want to regain their trust,” she claimed, although, her openness to a ban appears to contradict this view.
Even if a ban is voted on, it would likely still take years for the case to be decided by the Constitutional Court. Perhaps even more important is that German Chancellor Friedrich Merz has rejected such a ban, and without his Christian Democrats (CDU), there is no chance for such a ban at the moment.
Merz not only ruled out a ban, but he used extraordinarily harsh language against the measure despite earlier rumors that he was receptive to such a ban.
“Working ‘aggressively and militantly’ against the free democratic basic order must be proven. And the burden of proof lies solely with the state. That is a classic task of the executive branch. And I have always internally resisted initiating ban proceedings from within the Bundestag. That smacks too much of political competition elimination to me,” he warned.
For now, Merz holds most of the power in regard to an AfD ban, although his new coalition partners, the SPD, have hinted they would not accept a coalition agreement if a move towards a ban is not initiated. It remains unclear how far the SPD will go to get what they want regarding the AfD.
Hamas trying to incite Gazan population to storm Israeli border, Israeli military officials fear
The military has allocated intelligence resources and reserve forces, and clarified open-fire orders for senior IDF commanders on the ground.
By AMIR BOHBOTJUNE 3, 2025 17:25Updated: JUNE 3, 2025 18:11
A person gestures as he carries a box as Palestinians gather near an aid distribution site run by the US-backed Gaza Humanitarian Foundation, in Rafah, in the southern Gaza Strip, May 27, 2025.(photo credit: REUTERS/Hatem Khaled)
Senior IDF officials held a security assessment to discuss an extreme scenario in which Hamas could incite the population in central and southern Gaza to storm the Israeli border during a military assessment, Walla reported on Wednesday.
In response, the military has allocated intelligence resources and reserve forces, and clarified open-fire orders for senior commanders on the ground.
The military assessment also discussed Hamas’s efforts to prevent the distribution of food packages by an American company at three locations in Rafah.
During the discussion, officials noted that tens of thousands of food packages have already been distributed to representatives of families of 50 people each. Each package is designed to last five days.
Hamas has reportedly deployed armed operatives along pedestrian routes to intimidate civilians and prevent them from approaching the distribution centers. In some cases, according to the IDF spokesperson, Hamas terrorists fired live rounds at civilians to deter them. Despite this, residents have found ways to bypass the blockades—from the shelter areas to the distribution centers—in order to receive the food packages.
Palestinians carry their belongings as they flee their homes after the Israeli army issued evacuation orders from the center Khan Younis, in the southern Gaza Strip, June 3, 2025. (credit: Hatem Khaled/Reuters)
At the same time, Hamas has been waging a psychological warfare campaign, spreading false information to discourage the public from accepting the aid.
“Hamas understands it is no longer the sole authority in Gaza,” a security official said. “As time goes on, we’ll refine the distribution sites to serve more people and establish additional sites.” The official declined to specify who is funding the packages brought into Israel.
IDF believes more Palestinians will head to southern Gaza to obtain aid
According to Southern Command estimates, more Palestinians are expected to head south to obtain food aid. The assessment also raised several extreme scenarios, including the possibility that Hamas would attempt to attack distribution centers using operatives without clear organizational ties. To mitigate such threats, the IDF has deployed reserve forces in the area.
In addition, Walla has learned that UN officials in the Gaza Strip have refused for over a week to transfer 390 trucks from the Kerem Shalom crossing to the central Gaza Strip.
A security source involved in the process said that Hamas is pressuring the UN not to cooperate, hoping to collapse the American company’s distribution initiative in the south. Initially, UN officials cited legal difficulties in collecting and transporting the humanitarian aid, but according to the security source, the defense establishment believes these are merely excuses.
At this stage, the American company has not set up distribution centers in the north or center of the Gaza Strip, in order to encourage residents to move to shelter areas in the south.
ISRAEL VS HAMAS
‘A painful morning’: Israeli politicians mourn the three soldiers killed in Jabalya
The three soldiers were killed in Jabalya when the Hummer vehicle they were riding on was damaged after it hit an explosive device.
Politicians across the political spectrum mourned the three soldiers, St.-Sgt. Lior Steinberg, St.-Sgt. Ofek Barhana, and St.-Sgt. Omer Van Gelder, killed in northern Gaza on Tuesday.
Prime Minister Benjamin Netanyahu said in a statement that the three fell in pursuit of the defeat of Hamas and the liberation of the hostages. He said that the bravery of the three soldiers will forever be honored, adding, “May their memory be blessed and held in the heart of the nation.”
Finance Minister Bezalel Smotrich (RZP) said the three soldiers were “brave-hearted warriors who fell defending the homeland,” in an X/Twitter post.
“The soldiers, with their big smiles, enter the hearts of all who see them. Their heroism is what enables the continued existence of the State of Israel,” he continued, adding that “We will, God willing, continue their mission.”
IDF announces the death of three soldiers, June 3, 2025. (credit: IDF SPOKESPERSON’S UNIT)
Education Minister Yoav Kisch (Likud) also expressed his condolences on X, calling the morning painful and the news bitter.
Opposition MKs express condolences
Opposition leader and Yesh Atid head Yair Lapid called the morning difficult, and said, “There is no heart that did not break this morning” on X.
“I share in the grief of the families in their difficult hour and wish a speedy recovery to the wounded,” Lapid said.
Democrats chair Yair Golan called each of the killed soldiers “a world unto themselves,” and expressed condolences to the families, friends, and communities also on X.
The three soldiers were killed in Jabalya when the Hummer vehicle they were riding in was damaged after it hit an explosive device.
ISRAEL HAMAS
Arab nations’ post-war Gaza plans are not ready for the ‘day after’ – opinion
Hamas’s acceptance of the Egyptian plan is a survival tactic aimed at securing a foothold in post-war Gaza.
SMOKE RISES from the Gaza Strip after an explosion near the Israel-Gaza border, as seen from Israel, last week. Gaza cannot remain a devastated battleground forever, the writer states(photo credit: AMIR COHEN/REUTERS)
One day, the fighting in Gaza will end. How, or when, remains a matter of speculation, hope, or despair. With the latest Witkoff ceasefire formula in the balance, and Israel’s Operation Gideon’s Chariots in full swing, an end to the conflict could be months or even years away.
Nevertheless, Gaza cannot remain a devastated battleground forever, even if – as prime minister Benjamin Netanyahu announced to the media on May 5 – the IDF holds on to conquered areas of the Strip until Hamas is truly cleared from it; or, if the US leads a temporary post-war administration.
JPost Videos
A “day after” will undoubtedly arrive, and a fully prepared plan for reconstruction will be needed, primed, and ready to be put into effect.
Trump’s ‘day after’ plan for Gaza, and Arab nations’ rebuttal
An early vision of a possible future for Gaza was announced to an astonished world by US President Donald Trump on February 4. He declared that he intended the US to take over ownership of the Gaza Strip and convert it into the “Riviera of the Middle East”.
His proposal sent shock waves through the region, but when he then suggested that the entire Gazan civilian population should be resettled in neighboring countries during the development process, he faced a torrent of dissent from the world at large, and the Arab world in particular.
IDF troops operate in Khan Yunis, in Gaza, June 3, 2025. (credit: IDF SPOKESPERSON’S UNIT)
To counter Trump’s proposals, Egypt took the lead in formalizing ideas already in circulation for reconstructing, developing, and administering post-war Gaza. An Arab summit was hastily convened, and on March 4, the Egypt-led post-Gaza war plan was officially unveiled. The comprehensive reconstruction plan was approved and adopted unanimously.
Since then it has gained significant traction among international stakeholders, including the UN, the EU, and the African Union. UN Secretary-General Antonio Guterres “strongly endorsed” the Egyptian plan, saying the UN stood ready to cooperate fully in implementing it.
The Egyptian initiative addresses both immediate humanitarian needs, and the long-term governance and reconstruction of Gaza. It envisages a three-phase process: first, immediate humanitarian action; then a multi-year reconstruction effort; and finally, establishing a new governance structure for Gaza.
The first phase is planned to be completed in about six months; the rebuilding and governance reforms are estimated to last about a further four to five years.
The plan explicitly excludes Hamas from any involvement in the future governance of Gaza. It also bars the Palestinian Authority (PA) from direct administrative control. However, it envisages an umbrella-type council composed of Palestinian technocrats, operating under the auspices of the PA but supported by an international Governance Assistance Mission. In addition, to maintain security during the transition, it proposes the establishment of an International Stabilization Force to be led by Arab states.
The cost of rebuilding Gaza’s towns and cities, as well as their infrastructure, will be astronomical. Egypt’s three-phase plan puts it at $53 billion, to be expended over five years. For the first six months of humanitarian relief, the reconstruction program is estimated to cost $3 billion.
Phase two, which would involve rebuilding infrastructure, such as roads and utilities, and constructing 200,000 permanent housing units, would cost almost $20 billion. The final phase, lasting two-and-a-half years and costing $30 billion, aims to complete infrastructure, build another 200,000 housing units, and develop industrial zones, ports, and an airport.
To finance this $53 billion plan, Egypt proposes establishing an internationally supervised trust fund to receive, channel, and manage financial support from a wide range of international donors. The initiative envisages a broad coalition of donors, including the UN, global financial institutions, the wealthier Gulf states such as Saudi Arabia and the United Arab Emirates, the European Union, and other international bodies.
Although it is widely supported, the US and Israel have reservations, such as the lack of explicit measures for Hamas’s disarmament, the involvement of the PA, and the potential engagement of UNRWA.
Hopes of the reconstruction plan being ready for action as soon as the fighting ends were dashed at the Arab summit in Baghdad on May 17. In his speech, Egypt’s President Abdel Fattah el-Sisi said that Egypt plans to host an international conference for the reconstruction of Gaza, “once the aggression stops.”
He seems to need the expressions of approval for his plan to be backed by commitment. Nevertheless, Iraqi Prime Minister Mohammed Shia al-Sudani said that Iraq will work on setting up an Arab fund for the reconstruction of the region, in which Baghdad will pay $20 million for Gaza and a similar amount for Lebanon.
In their closing media release, the Arab leaders reiterated their opposition to Trump’s idea of displacing Gaza’s civilians. Any such move, they said, would be “a crime against humanity.”
In line with the Egyptian plan, PA President Mahmoud Abbas called on Hamas to abandon power in Gaza and, along with other militant groups, hand over its weapons to the PA.
In fact, a large question mark looms over Hamas’s true attitude toward the Egyptian proposals.
On March 5, the day after the Arab League had unanimously endorsed the plan, Hamas issued a statement praising Egypt’s role in devising it, urging “all necessary steps to guarantee its success.” It framed this statement as support for Palestinian-led reconstruction and made no mention of its own exclusion from the future governance of Gaza.
Arab nations’ Gaza plan lacks explicit disarmament of Hamas
Hamas probably aims to retain a controlling presence through local networks, civil servants, and security forces. Moreover, the plan’s lack of explicit disarmament clauses could allow it to retain some form of military capability. This issue will need to be resolved if Saudi Arabia and UAE funding is to be secured to implement the plan. Both states demand not only Hamas’s exclusion from any part of the governance of post-war Gaza, but also its total disarmament.
In essence, Hamas’s acceptance of the Egyptian plan is a survival tactic aimed at securing a foothold in post-war Gaza, while retaining as its long-term strategy the total elimination of Israel through armed conflict.
Whether Egypt’s plan, or any modification of it, ever sees the light of day depends on a range of unforeseeable and imponderable factors. Nevertheless, instead of waiting for the fighting to end before holding a conference to finalize the details, as Egypt seems to be suggesting, the plan’s supporters should expend every effort to ensure that any problems have been ironed out, and that it is ready to swing into action the moment the conflict has formally ended.
The writer is the Middle East correspondent for the Eurasia Review. His latest book is Trump and the Holy Land: 2016-2020. Follow him at http://www.a-mid-east-journal.blogspot.com
ISRAEL HAMAS
ISRAEL HOUTHIS
IRAN.USA
stupid move on the part of the USA
Trump Will Allow Iran To Enrich Uranium In ‘Acceptable’ Nuke Deal Propo
Monday, Jun 02, 2025 – 04:40 PM
A fresh nuclear deal submitted to Iran from the Trump administration over the weekend would allow limited low-level uranium enrichment on Iranian soil for a to-be-determined period of time, Axios writes in a breaking report Monday.
This contradicts the prior public statements of Mideast envoy Steve Witkoff and Secretary of State Marco Rubio, who have several times made clear that the full dismantlement of Iran’s nuclear facilities is a Washington red line.
Tehran, for its part has remained firm on its own red line, saying its ability to enrich uranium for peaceful domestic energy purposes is a matter of national sovereignty. Is Trump meeting Iran in the middle? Rather, the hawks will of course accuse him of caving. According to more from Axios:
But the proposal described to Axios by two sources with direct knowledge — one of whom provided a point-by-point breakdown — would seem to offer a clearer path to a deal.
By making this offer, the Trump administration is risking backlash from its allies on the Hill and in Israel. Prime Minister Benjamin Netanyahu’s government and dozens of Republican senators have pushed the administration to maintain red lines on zero nuclear enrichment and the full dismantlement of Iran’s nuclear program.
Israel and its supporters in the US are going to be furious. But Trump has promised time and again peace and stability in the region through the art of the deal – a message conveyed especially strongly in his Gulf tour last month.
Oil prices dropped immediately on the headline…
As for Iran’s stance, we detailed earlier in the day that amid ongoing nuclear negotiations, Iran has demanded that the United States clarify precisely how sanctions will be lifted and which ones. A statement said that any new agreement on Tehran’s nuclear program would be conditioned on significant and immediate sanctions relief.
Ministry of Foreign Affairs spokesman Esmail Baghaei made clear Monday that Tehran won’t back off of this reasonable demand, coming days after the US submitted what it called an “acceptable” proposal.
Baghaei stressed the need for transparent and firm guarantees regarding the “real end of the sanctions” which would also feature details on “how and through what mechanism” they would be dismantled.
White House Press Secretary Karoline Leavitt has said in a statement. “Special Envoy Witkoff has sent a detailed and acceptable proposal to the Iranian regime, and it’s in their best interest to accept it.”
The latest Trump-proposed outline of a new deal has been in Iranian hands since Saturday. However, on Monday Reuters writes that Tehran has deemed aspects of it a ‘non-starter’:
Iran is poised to reject a U.S. 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 U.S. proposal, which could be interpreted as a rejection of the U.S. offer,” the senior diplomat, who is close to Iran’s negotiating team, told Reuters.
The Islamic Republic is still maintaining that its program is only for peaceful nuclear energy purposes, but a red line for Washington is that Tehran commit to scrapping uranium enrichment – which however the Iranians say is a matter of their sovereign right.
An unidentified diplomat has meanwhile been quoted in Reuters as saying of the new US proposal, “In this proposal, the US stance on enrichment on Iranian soil remains unchanged, and there is no clear explanation regarding the lifting of sanctions.”
The US administration has continued to emphasize that the “clock is ticking” on reaching a new deal.
What's weird is that both the New York Times and Reuters reported that the US is still demanding Iran halt uranium enrichment. Reuters reported today that Iran was poised to reject the US proposal because of that demand. What is true? https://t.co/8lYj4b85jW
Prior reports say that President Trump had talked the Israelis down from any kind of preemptive strike against Iran’s nuclear facilities. Trump has said more time is needed to finding a peaceful solution.
END
the above story is now debunked
(Times of Israel)
Denying report, Trump says all uranium enrichment banned under proposed Iran deal
US President Donald Trump appears to deny a report in Axios that his administration is pursuing a deal with Iran that would allow limited uranium enrichment.
“The AUTOPEN should have stopped Iran a long time ago from “enriching.” Under our potential Agreement — WE WILL NOT ALLOW ANY ENRICHMENT OF URANIUM!,” he writes on his Truth Social platform.
A subsequent post boasts of the US military “stockpiling weapons at a rate never seen before by our Country.”
“Hopefully, however, we will never have to use them!,” he writes.
According to Axios, the proposal presented to Iran on Saturday by Omani Foreign Minister Sayyid Badr Albusaidi would forbid Iran from building new enrichment facilities and dismantle existing infrastructure, but would allow it to keep enriching in above-ground facilities to 3 percent, the level needed to fuel a civilian nuclear reactor.
The White House responded earlier by saying “Trump has made it clear that Iran can never obtain a nuclear bomb,” but did not deny the report.
Both the US and Israel have agreed that any deal must include a requirement for Iran to cease all uranium enrichment activity, and US special envoy Steve Witkoff has insisted that this is a red line he will not back down from.
Iran has said it will reject any deal that bans enrichment for civilian purposes.
A senior Iranian diplomat said Monday that Tehran would reject the US proposal, saying that it fails to address Tehran’s interests or soften Washington’s stance on uranium enrichment.
end
TRUMP GOES LIVE:
Trump clarifies US nuclear agreement with Iran would not allow any uranium enrichment
Trump said on Truth Social that under the US agreement, they would not allow Iran any enrichment of uranium.
US President Donald Trump looks on as he gives remarks outside the West Wing at the White House in Washington, US, May 8, 2025.(photo credit: reuters/kent nishimura)
The US nuclear deal proposal that was allegedly given to Iran will not allow any enrichment of uranium, US President Donald Trump said on Truth Social, after reports previously came out that stated the US would allow limited and low-level uranium enrichment.
Limited uranium enrichment would be for a “to-be-determined” period of time, according to Walla. This proposal contradicts statements from top officials.
This follows earlier reports from Monday that Iran is poised to reject a US proposal to end a decades-long nuclear dispute, an Iranian diplomat said, 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.
Iran’s President Masoud Pezeshkian visits Iran’s nuclear achievements exhibition in Tehran, Iran April 9, 2025. (credit: IRAN’S PRESIDENCY/WANA (WEST ASIA NEWS AGENCY)/HANDOUT VIA REUTERS)
Iran’s secret nuclear enrichment shielded from UN watchdog
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 last week.
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.
END
IRAN/TUESDAY MORNING
Iran preparing for Israeli, US strikes, building up air defense systems – FT
“The enemies of the Iranian nation should understand that any violation of our airspace will cause them significant harm,” the military head said.
Iran is strengthening its air defense systems amid preparations for the possibility of an American or Israeli attack on the country’s nuclear infrastructure should nuclear negotiations fail, the Financial Times reported on Sunday.
“We are witnessing an impressive improvement in the capabilities and competence of the country’s air defense system,” Iran’s Armed Forces Chief of Staff Mohammad Baqeri reportedly said in May, adding that Iran’s military has seen a “multi-fold increase in investments.”
“The enemies of the Iranian nation should understand that any violation of our airspace will cause them significant harm,” he added.
JPost Videos
According to Western intelligence assessments and security analysts’ investigation of satellite imagery, Iran appears to have relocated several anti-aircraft missile launchers to positions close to key nuclear sites like Natanz and Fordow, the report says.
A significant portion of Iran’s most advanced anti-aircraft missiles and radar systems – including its long-range Russian S-300 systems – were destroyed or damaged during Israeli air strikes on the country in October and April 2024, the FT states.
A missile is launched during a military exercise in an undisclosed location in the south of Iran, in this handout image obtained on January 19, 2024 (credit: IRANIAN ARMY/WANA/REUTERS)
Despite that, experts believe that many components of Iran’s air defense system remain intact or appear to have been repaired in recent months.
Weapons have been displayed to the public to refute destruction claims
Military equipment and weapons have been publicly displayed in Iran, with an S-300 launcher and a radar truck presented in Tehran during the country’s Army Day celebrations in May, and an S-300 shown launching an anti-aircraft missile during a military exercise in February.
“There is no doubt that Iran is seeking to refute the claim that its advanced air defense systems have been destroyed,” Nicole Gryzewski of the Carnegie Institution in Washington told the FT.
Israel would have the upper hand if it came to a fight
“Israel currently has almost complete air superiority over Iran,” Robert Tolast, a researcher at the British RUSI Institute, told the FT. “But such an attack would require waves upon waves of aircraft for hours. Crew fatigue comes into play – the longer they are over Iran, the greater the chance that something will go wrong.”
“From the Iranian side, this effort is trying to recreate the success story of Iran’s ballistic missile development program,” Fabian Hintz, a research fellow at the International Institute for Strategic Studies in Britain, said to the FT.
Dealing with this defense system would not be easy for Israel, John Alterman, chairman of the Global Security and Geopolitical Strategy Program at the Center for Strategic and International Studies in Washington, told the FT. “But is it beyond Israel’s capabilities? No, of course not. The Israelis have been training for exactly this scenario for decades.”
Nuclear negotiations are ongoing between Iran, US
Talks between Washington and Tehran over the future of Iran’s nuclear program are ongoing. Most recently, the US presented a proposal for a new nuclear deal to Iran on Saturday via Oman’s Foreign Minister Sayyid Badr Albusaidi, who was on a short visit to Tehran and has been mediating nuclear talks between Iran and the US.
However, a senior diplomat close to Iran’s nuclear negotiating team said on Monday that Iran is poised to reject the proposal, 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 diplomat said.
WEST BANK
SYRIA/ISIS/KURDS
Resurgent ISIS? Terror Cells Launch Deadly Attacks On Syria’s Kurds
At least three members of the Kurdish Asayish security forces were killed on Sunday in northeastern Syria, according to the group. They said they were targeted by an ISIS cell during a patrol on the road between Raqqa and Hasakeh.
The patrol was targeted with a landmine, according to some sources. The official statement from Asayish also reported one person wounded in the attack, who is still receiving medical treatment.
ISIS has been launching an escalating number of attacks against northeast Syria, mostly targeting the Kurdish SDF and other Kurdish forces. It has been reported that they carried out 104 attacks so far in 2025.
Regional media details the following recent developments:
The resurgence is not limited to Kurdish-administered areas. On May 30, ISIS claimed responsibility for its first attack on the forces of Syria’s new transitional government, which took power following the ouster of Bashar al-Assad in December 2024. That attack, in Suwayda province, involved an improvised explosive device targeting a patrol from the Syrian Army’s 70th Division, killing one soldier and injuring three others.
The SITE Intelligence Group and SOHR confirmed the operation as ISIS’s first publicly acknowledged assault on the new regime.
Asayish said that “sweep operations and investigations” are being launches in the area to try to find those responsible for the latest attack. Operations against ISIS have also been on the rise in recent weeks, with the HTS government joining in on some operations targeting them.
The SDF reported that late last week they captured an ISIS cell in Deir Ezzor Governorate. They also reported that they had thwarted an ISIS attempt to plant a landmine in that area, killing one “ISIS mercenary.”
ISIS has claimed two attacks in the past two weeks targeting Syrian government forces, which are being presented as the first ISIS attacks against the Hayat Tahrir al-Sham (HTS) government since they took power in December.
Meanwhile, HTS itself is not much removed from ISIS…
The current Syrian government are mix Isis with Al Qaeda (Bin Laden soldiers) that declared war on the west many times before they took over
But now they will deceive the west and play moderate to lift sanctions and get funding to build themselves and prepare for offensive pic.twitter.com/9AtDH5qrp3
ISIS said the first attack was in Suwayda Governorate, and that it killed or wounded seven soldiers. The second attack was near the first one but a week later, and targeted the US-backed Free Syrian Army (FSA), killing one and wounding three.
end
SYRIA
‘Jihadists,’ Uyghurs, and more: Syria plans to bring foreign fighters into its army
Syria is able to proceed because it enjoys increased support from the US, as well as from Turkey and Qatar, both US allies.
Syrian army personnel travel in a military vehicle as they head towards Latakia to join the fight against the fighters linked to Syria’s ousted leader Bashar al-Assad, in Aleppo, Syria, March 7, 2025.(photo credit: REUTERS/MAHMOUD HASSANO)
Syria may integrate thousands of foreign fighters into its ranks under a new agreement, according to a Monday Reuters report.
The development is being watched with interest in the region, as well as in the US and China. According to Levant24, a Syrian media channel, the US has given the green light to a decision that could see former fighters incorporated into Syria’s new army.
The Syrian army is expanding and taking shape. The 56th Division held a graduation ceremony for new trainees near Hama over the weekend. In addition, the 70th Division now includes elements of the US-backed Syrian Free Army, which had been based at Tanf in southern Syria.
There are controversies surrounding some of the new army’s appointments. The new commander of the 86th Division operating in Deir Ezzor is Ahmed al-Hayes, who was previously involved in human rights abuses against Kurds.
Reports indicate that up to 3,500 foreign fighters—some labeled as “jihadists”—will be integrated into the 84th Division of the new Syrian army.
Syrian army personnel gather as they head towards Latakia to join the fight against the fighters linked to Syria’s ousted leader Bashar al-Assad, in Aleppo, Syria, March 7, 2025. (credit: REUTERS/MAHMOUD HASSANO)
These fighters include Uyghurs who came to Syria as volunteers during the civil war, mainly from China and other Turkish-speaking regions. They are said to be members of the Turkistan Islamic Party (TIP), a group banned by China and viewed as a terrorist organization by Beijing.
The reports note that TIP leader Abu Muhammad al-Turkistani was appointed brigadier general and given command of the 133rd Division in December 2024, when the new Syrian government began to take shape after the fall of the Assad regime. It should be noted that “Abu Muhammad al-Turkistani” is a nom de guerre meaning “father of Muhammad the Turkistani.”
The reports also quoted the new US envoy to Syria, Tom Barrack, as supporting this development.
The New Arab, citing the Reuters report, noted that “the US has endorsed a Syrian government plan to absorb thousands of former rebel and foreign fighters, many of whom once fought against the Assad regime, into the country’s restructured national army.”
The plan is expected to be transparent. This marks a shift from earlier expectations that US conditions for sanctions relief and increased engagement in Syria would require the removal of foreign extremist fighters.
Fighters cannot return to China
A key issue for these fighters is that they cannot return to China. This differs from volunteers from Turkey or Europe who joined the Syrian civil war. Since they cannot return home, any expulsion would make them another country’s problem—likely Turkey’s.
The US does not want Turkey to bear this burden either. Barrack, who also serves as US ambassador to Turkey, is seen as supporting this approach. By integrating the fighters into the Syrian army alongside other Syrians, the plan aims to dilute their influence, moderate them, and professionalize their roles, thereby reducing their impact as a distinct unit.
The New Arab report said that “Washington [had previously demanded] that the new Syrian leadership, formed after rebel groups led by Hayat Tahrir al-Sham (HTS) ousted Bashar al-Assad last year, bar foreign fighters from national security institutions. But that stance appears to have softened following Trump’s Middle East tour last month.”
Syria’s government, which includes former leaders from HTS—a group previously considered extremist—has sought to retain these foreign fighters, valuing their loyalty. “Many of these fighters arrived in Syria in the early years of the civil war, joining jihadist groups like HTS and ISIS in their battle against Assad, who was backed by Iranian and Russian forces,” The New Arab noted. They played key roles in HTS, including in its elite units.
Reports estimate that as many as 5,000 foreign fighters remain in Syria, and with families included, the number could exceed 15,000.
The new plan could strain Syria-China relations. However, Syria is able to proceed because it enjoys increased support from the US, as well as from Turkey and Qatar, both US allies. With US backing, Syria is less reliant on China, Russia, or other non-Western powers.
This support also means that Washington has more influence in Damascus and can demand transparency regarding the integration of foreign fighters. This is one reason US officials have sought to engage with Syria.
Others have urged the US to proceed more cautiously. However, Syria appears determined to move forward, and in the absence of US support, it would continue with or without American approval. US engagement gives Washington influence.
For example, reports from Syria said that a border crossing with Lebanon is opening this week. Syria’s state media noted that the “General Authority for Land and Sea Ports announced Tuesday the reopening of the Al-Arida border crossing, which connects northern Lebanon to southwestern Syria, linking Tartous and Tripoli governorates.”
end
SYRIA/THIS AFTERNOON
IDF artillery fires on Syria after rockets launched at northern Israel
The IDF confirmed that initial rocket fire from Syria fell in an open area, causing no harm or damage.
Direction and distance sign for the Syrian capital of Damascus at Mount Bental Israeli military outpost on the Syrian border(photo credit: DAN SHACHAR/SHUTTERSTOCK)
Sirens sounded in villages and towns across northern Israel and the Golan Heights on Tuesday evening, following a barrage of rockets fired from southern Syria, the military said.
Israeli media reported that the IDF responded with artillery fire on southern Syria.
Rocket sirens sounded in Hispin in the Golan Heights, Nof Hagalil, Kfar Tavor, and Nazareth. The Jezreel Valley Regional Council later confirmed that the sirens that sounded in Nazareth were activated due to the missile launch from Yemen, which triggered sirens across central Israel.
The IDF confirmed that initial rocket fire from Syria fell in an open area, causing no harm or damage. Minutes later, a second barrage of rockets was fired into northern Israel. It was unclear whether the second barrage towards northern Israel was fired from Syria.
However, at this time, it is unclear which group is responsible for the launches. Israeli public broadcaster KAN reported that the launches were launched from the Daraa Governorate in southern Syria.
Smoke rises after rockets fired from Lebanon into Israel, Mount Dov, December 20, 2023. (credit: Ayal Margolini/Flash90)
This is the first time that rockets have been launched from Syrian territory into Israel since the collapse of Bashar al-Assad’s regime in December 2024, and President Ahmed al-Sharaa’s rise to power.
This is a developing story.
RUSSIA VS UKRAINE
Putin will be furious with this;
Ukraine Strikes Kerch Bridge In Crimea With Underwater Explosiv
Tuesday, Jun 03, 2025 – 08:45 AM
For the third time since the Russia-Ukraine war started, a large explosion has damaged the bridge connecting Russia’s mainland to Crimea.
Ukraine’s security service (SBU) has quickly claimed responsibility, describing that this time it was an underwater explosive attack, possibly facilitated with an unmanned submarine, which left the structure which goes from the Russian city of Krasnodar in the east to Kerch in Crimea “in disrepair”.
Video was soon after published of the explosion of what the SBU called the “badly damaged” bridge after support columns were blown up.
“The Security Service of Ukraine carried out a new unique special operation and struck the Crimean Bridge for the third time – this time underwater!” the SBU declared on Telegram.
“Today, at 4:44 a.m., without any civilian casualties, the first explosive device was detonated,” the statement said. “The underwater support pillars were severely damaged at the seabed level — aided by the equivalent of 1,100 kg of TNT. As a result, the bridge is effectively in an emergency condition.”
Russia since confirmed that traffic on (alternatively called) Crimea Bridge was temporarily suspended as a result of the damage and emergency situation. But the 12-mile bridge, Europe’s longest, was reportedly quickly reopened after hours.
“RIA Novosti, a Russian state news agency, reported that the bridge was briefly closed for several hours on Tuesday,” the NY Times writes. “An app that is widely used in Russia to track traffic on the bridge showed that it was open again as of midafternoon.”
🚨 Russian Lancet drone takes out one of the Ukrainian sea drones near Crimea — per Russian war reporters
Several attacks on the $3.7 billion, iconic bridge have occurred throughout the war, including an October 2022 truck bombing on the bridge, which killed and wounded civilians.
That attack took at least ten months to repair, but there was another attack nearly a year after the first one, which utilized maritime drones hitting support pillars.
This comes two days after Ukraine’s ‘Operation Spider’s Web’ which reportedly took out some forty Russian combat aircraft, among them strategic bombers, in Kiev’s most ambitious and provocative operation to date.
Ukrainian intelligence is really on a roll, but the world awaits a likely devastating ‘shock and awe’ style attack by Moscow, which is apparently exercising patience as it readies the inevitable retaliation. Likely, ‘command HQ’ centers are going to be targeted in the coming days.
END
ROBERT H ON THE UKRAINIAN ATTACK ON THE KERCH BRIDGE/CRIMEA
Waiting for the Oreshniks, while the Istanbul kabuki proceeds “not negatively” — Strategic Culture
Today’s attack on the Crimean Bridge has sealed the fate of Ukraine.
Only a fool would now stand with Zelensky or with Ukraine. They both have chosen their path to an end. None of this was possible without NATO or American assistance.
Ukraine will cease to exist as a STATE and there is nothing that can be done to prevent this. Apart from an awaken angry Russian public now crying unleash Oreshnik. The Kremlin will be decisive and pragmatic to deal with Ukraine. If for no other reason then a need to show the Global South two things; Russia is pragmatic and calculated about defending itself to show its claws; and to demonstrate leadership by example of moral authority. However, if Trump knew or agreed with this two pronged attack on airfields and the bridge then bets are off on what the real response will be beyond Ukraine. And it remains to be seen whether there are more coordinated attacks to come shortly. Some parties are saying that the Pentagon watched the attacks in both cases in real time. If that is true, it is a bad omen.
One for sure is that the US and its’ vassals will be seen as not agreement worthy, if anything like this true. So a new Start Treaty is unlikely without a broader understanding and agreement. Some people are now saying that the attack was to prevent Trump from being able to negotiate a new treaty. And if this is the case, Zelensky and crew have actually committed a terrorist attack against America. In an attempt to spoil relationships between Russia and America and China.
One can be sure that the Global South is watching with rapt interest to see what happens and will see the Ukrainian as a rogue proxy state and carefully assess its sponsors in future dealings . This does not bode well for what Trump is attempting to do with tariffs in rebalancing trade. And no doubt China is watching very carefully. Because if a broader conflict commences the one can be certain that China and others will side with Russia and we will see WWIII.
That outcome was expected since the US hasn’t yet coerced either or both sides into concessions. Therefore, unless the US steps up and is successful, only brute force can break this impasse.
Regarding the possible solution of American intervention, it would take different forms with Ukraine and/or Russia if it ever comes to pass.
With respect to the first, the US would have to credibly threaten to completely cut Ukraine off from military, intelligence, and economic aid if it doesn’t comply with some of Russia’s demanded concessions for peace and then go through with it if Zelensky refuses.
Even though the Europeans likely won’t follow suit, they couldn’t replace the US’ then-lost role in helping Ukraine.
As for the form that it would take with Russia, the US would have to impose and then enforce crippling secondary sanctions against all of Russia’s energy clients without exception, with an emphasis on China, India, the EU, and Turkiye. Together with the aforesaid or in lieu of it due to the painful blowback that such sanctions could entail, the US might also “escalate to de-escalate” by ramping up military, intelligence, and economic aid to Ukraine, though at the risk of war by miscalculation with Russia.
Regarding the possible solution of brute force, this too would take different forms from Ukraine and/or Russia if it also ever comes to pass. With respect to the first, Ukraine would have to carry out enough strategic drone strikes against Russia to force Putin into capitulating to Zelensky’s maximalist demands, but without provoking a devastating retaliation with Oreshniks (possibly tipped with tactical nukes). That goal is unrealistic, however, while the means are extremely risky. Even so, Ukraine might still attempt it.
As for the form that it could take from Russia, Putin would have to authorize the aforesaid retaliation to force Zelensky into capitulating to his own maximalist demands, but without provoking Trump into “escalating to de-escalate” in response out of fear of losing all of the US’ investments in “Project Ukraine”. Russia would also have to be ready to respond to any desperate European provocations in that event, such as the formal deployment of troops to Ukraine, while still keeping the US out of the fray.
The third possible solution that some might have thought of, namely continuing the ground campaign in the absence of US coercion on either party and neither “escalating to de-escalate” in their own way, would inevitably lead back to this scenario branch with time.
After all, Trump would be compelled to either cut Ukraine off or “escalate to de-escalate” if the front lines collapse, in which respective case Ukraine or Russia might then “escalate to de-escalate”. Some escalation might therefore be inevitable.
Considering these strategic dynamics, the most realistic best-case scenario for Russia would thus be that the US seriously tries coercing Ukraine into concessions, Russia doesn’t devastatingly retaliate to any subsequently desperate Ukrainian provocations, and then Ukraine capitulates shortly thereafter once the US cuts it off. Regrettably, Trump’s latestrhetoric against Putin and his ally Lindsey Graham’s draft sanctions legislation suggest that he isn’t preparing to do this, so the worst-case scenario might unfold.
Ukraine “Stinks Of Authoritarianism” – Kiev Mayor Klitschko Hits Out At Zelens
The former mayor of Kiev, Vitali Klitschko has blasted Ukrainian President Volodymyr Zelensky, and bluntly stated that the country is plagued by authoritarianism.
The former world heavyweight champion boxer told the Times of London that Kiev City Council essentially cannot operate because of “raids, interrogations and threats of fabricated criminal proceedings.”
“This is a purge of democratic principles and institutions under the guise of war,” Klitschko declared, adding “I once said that it smells of authoritarianism in our country. Now it stinks of it.”
The Times describes Zelensky and Klitschko as being in a “de facto state of war.”
The report notes that the Ukrainian government has arrested seven Kiev city officials as part of ongoing investigations targeting an alleged criminal network involved in corruption cases related to urban development.
“Many mayors are intimidated, but my celebrity status is a protection,” Klitschko stated, adding “You can dismiss the mayor of Chernihiv, but it is very difficult to dismiss the mayor of the capital, whom the whole world knows.”
“That is why everything is being done to discredit and destroy my reputation,” he further urged.
Zelensky has reportedly been considering arresting Klitscho after he called for the President to consider ceeding Crimea to Russia as part of a peace deal.
This fued has been ongoing for sometime. A year and a half ago, Klitschko urged that Zelensky failed to prepare Ukraine properly for the war with Russia and will “pay for his mistakes.”
Meanwhile, after earlier in the week calling for three way meetings between himself, President Trump and Putin, Zelensky has now declared that it would be “meaningless” and instead wants more military aid.
A major escalation is expected after Ukraine launched a massive drone attack on Russian airbases Sunday, which many are equating with the Japanese attack on Pearl Harbor.
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6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
MARK CRISPIN MILLER
Rod Stewart, “not feeling well,” quits Vegas residency; Billy Joel cancels tour; Ace Frehley cancels shows; Utah Symphony…….
Celtics’ Kristaps Porzingis sidelined by lasting “viral illness”; UK: Sky Sports’ Emma Saunders back on TV after cancer, brain infection; BE: singer Günther Neefs has cerebral thrombosis; more
Rock Legend, 80, Pulls Out of Residency & Reveals He’s Not ‘Feeling Well’
June 2, 2025
Rock legend Rod Stewart, 80, didn’t perform his Las Vegas residency show on June 1.
People magazine reported that Stewart announced on his Instagram Story that he would not be performing at The Colosseum at Caesars Palace on June 1.
“I am sorry to inform you that I’m not feeling well and my show tonight at The Colosseum at Caesars Palace is being rescheduled to June 10. Your tickets will be valid for the new date,” read Stewart’s June 1 Instagram Story, as reported by People magazine.
Stewart, who has such hits as “Do Ya Think I’m Sexy?” and “I Don’t Want to Talk About It,” spoke about his long-lasting career during a May 2025 interview with AARP. The British singer joked that he has remained performance ready because of “Lots of women, drugs and wine.” He clarified that he “keep[s] [himself] very fit.”
Billy Joel has canceled all of his upcoming tour dates after being diagnosed with normal pressure hydrocephalus. Joel announced his decision Friday, saying in a press release that he was thankful for the care he was getting and the support of his fans. The health condition has reportedly been made worse by recent performances, leaving the musician with problems with hearing, vision and balance. NPH is caused by a buildup of cerebrospinal fluid pressing on the brain and is most common in people over 65. Treatment for the condition typically includes installing a shunt to drain the excess fluid and physical therapy to deal with the symptoms. Joel, 76, is undergoing physical therapy and said he has been advised to stop performing while he recovers. The decision to cancel the shows comes months after Joel fell onstage during a concert in Connecticut. He recovered and continued the show as planned.
Legendary Rock Guitarist, 74, Gives Health Update After Canceling Shows
May 22, 2025
Ace Frehley had everyone worried. The former KISS guitarist announced on May 21 that he had to pull out of a pair of upcoming shows due to his health. “Hello everyone,” he posted on social media. “I wanted to let you all know that I will sadly be unable to perform this weekend on Friday, May 23, at Brat Fest in Madison, Wisconsin, or Saturday, May 24, at the Arcada Theater in St. Charles, Illinois. Although not serious, I am ill and don’t feel that I am capable of the rigorous travel or performing up to my usual standards this weekend,” he added. Frehley has performed as a solo artist for the past two decades. He rejoined KISS (Gene Simmons, Paul Stanley, Peter Criss) in 1996 and stayed with the band until 2002.
Researcher's Note – Ace Frehley Says He's Been Vaccinated [sic] Against COVID-19: 'I Do Not Wanna Get' This Disease: Link
Musician medical emergency leads to cancellation of Utah Symphony concert
May 17, 2025
Friday night’s Utah Symphony concert was terminated halfway through when one of the orchestra’s longtime musicians was stricken with a medical emergency. Near the end of the third movement of Mozart’s Symphony No, 35, which opened the concert, James Hall, the orchestra’s associate principal oboe, slumped down in his chair. Colleagues seated closest to him stretched Hall out on the floor in front of his chair, as the evening’s conductor, Christopher Koncz, stepped off the podium and walked offstage. Staff members went onstage to attend to Hall. Paramedics arrived a few minutes later, and after working on him for several minutes, put the musician on a stretcher and wheeled him offstage. Some patrons with a view of the stage said that they thought the oboist’s condition looked serious. On Saturday, however, a Utah Symphony spokesperson said that Hall was “stable and under good medical care” in the hospital. After an extended delay, it was announced that the rest of the concert would be cancelled.
Kristaps Porzingis Opened Up About Lingering Illness After Celtics’ Elimination
May 17, 2025
Boston Celtics star big man Kristaps Porzingis [29] played limited minutes throughout the team’s second-round series with the New York Knicks. He missed eight games in March due to a viral illness. Last week, ESPN NBA insider Shams Charania reported that Porzingis was still dealing with side effects from that same illness, which has cause energy zaps and his stamina having ebbs and flows over the past couple months. After Game 5, Celtics coach Joe Mazzulla said Porzingis “couldn’t breathe” which is why he played only 12 minutes and none in the second half. The side effects must have still been around for Game 6, logging minimal minutes as Boston tried to force a Game 7. Plenty of rest is on the docket for Porzingis now that the Celtics enter their offseason.
Researcher's Note – Unvaccinated [sic] NBA players will be docked pay for missed games
Sky Sports presenter Emma Saunders updates fans on return after cancer and brain infection
May 21, 2025
Emma Saunders is courageously eyeing a return to Sky Sports for the commencement of the 2025/26 season in August as she recuperates from a severe brain infection that left her in a coma. The well-liked presenter had also valiantly battled thyroid cancer the previous year, which she shared with fans at the start of the season. Subsequent complications led to her hospitalisation due to encephalitis, a brain infection. In March, the 32-year-old, who is in a relationship with former RC Lens manager Will Still, took to Instagram to share the news. Saunders wrote: “Hi folks. Unfortunately life took a bit of an unexpected turn a couple of weeks ago and I’m now off work while I recover from Encephalitis – an infection of the brain. I hope it won’t be long until I’m back to see out the end of 2024/25 – especially after missing part of the start of the season before this when I was treated for thyroid cancer.”
Singer Günther Neefs recovers from cerebral thrombosis
May 13, 2025
Günther Neefs [59] from Mechelen has been in hospital for the past few days after a cerebral thrombosis. The singer announced this via his social media. He will take until the end of August to recover further. “With regret in my heart, I have to adjust my plans for the coming weeks”, Neefs announced via his social media. “I unexpectedly spent the past few days in hospital, after a cerebral thrombosis. Thanks to rapid interventions, everything turned out well.” The singer will therefore not be performing for the time being. “I will take the time to focus on rest and recovery until August 31, so that I can be stronger than ever afterwards”, he continues. Neefs also thanks all the doctors and nursing staff for their good care and asks that he and his family be given the necessary rest in the coming weeks.
TV host Tobias Hansen suffers cardiac arrest: Helped by cardiologist
May 20, 2025
Tobias Hansen [42] suffered a cardiac arrest on Friday, but fortunately both a cardiologist and doctors were able to help the TV host. We all know him as the host of “Do You Know the Type?” Tobias Hansen debuted as a new host on the program in 2023, but unfortunately we probably won’t see him showing around famous people’s homes anytime soon. His wife, Kristina, has just shared some sad news on his Instagram account. Here she writes that Tobias had a cardiac arrest on Friday, May 16. Fortunately, she also writes that he is recovering well and has received help from both skilled doctors and nurses, and that a cardiopulmonary resuscitation team was quickly on hand.
Giampiero Pettiti, 60, mayor of Verzuolo and head of the technical office of the Municipality of Villafalletto, has been hospitalized in intensive care at the Santa Croce Hospital in Cuneo since the afternoon of yesterday, Wednesday, May 21, following a sudden illness. The news spread today on the sidelines of the inauguration of the exhibition “My grandfather was a partisan” which he was supposed to attend.
Islamic Scholar Mufti Nazir Ahmad Qasmi Hospitalised After Major Heart Attack
May 23, 2025
Srinagar – Renowned Islamic scholar Maulana Mufti Nazeer Ahmed Qasmi [60] has been hospitalized after suffering a major heart attack earlier today. Qasmi’s office informed that the scholar is currently receiving treatment in ICU at a Srinagar-based hospital. “By the grace of Allah (SWT), timely medical intervention, the expertise of healthcare professionals, and the prayers of well-wishers, his condition has now stabilized, and he is out of immediate danger,” reads a media statement, adding, “He is currently receiving treatment in the Intensive Care Unit (ICU) under close observation. “ The statement further said that Qasmi’s all upcoming public engagements and programs have been canceled indefinitely to prioritize his recovery. “
This is not good! The Ninth Circuit Court of Appeals on Friday rejected the DOJ’s bid to lift a Clinton judge’s order blocking Trump’s reorganization plans for 20 federal agencies. why?
‘Last Friday US District Judge Susan Illston, a Clinton appointee, turned a Temporary Restraining Order (TRO) into a preliminary injunction blocking the Trump Administration’s effort to overhaul and reorganize 20 agencies in the Executive Branch.
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.
In February, President Trump implemented an executive order to completely overhaul the Executive Branch through the work of DOGE.’
Judge Illston blocked any reduction-in-force (RIF) notices to workers in 20 federal agencies.
The judge’s preliminary injunction came in response to a lawsuit filed by the anti-American AFL-CIO and American Federation of Government Employees.
Judge Illston enjoined DOGE, the State Department, Treasury and other agencies.’
___
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.
the ending of the COVID mRNA (Pfizer Bourla Malone Bancel Moderna Sahin et al.) “vaccine” recommendations for healthy kids and pregnant women is NOT enough. This is a MISDIRECTION by Prasad, Makary
et al. and they should be damn ashamed, they are playing with lives, and they know it and took jobs in administration (after hammering Trump for years) IMO to block for big PHARMA and Susie Wiles. I cannot think POTUS Trump knows this is what is happening. Trump again is being subverted and misled, wrongfully as he cannot be in agreement with this, and RFK Jr. needs to fire these clowns and right the ship and go full throttle. This cannot be a game, and the writing must be clear when FDA puts out information. The writing especially the recent NEJM piece was pure hogwash drivel bull! I still trust RFK Jr. to steady the ship and do the right thing.
We have written with many questions on this piecemeal pseudo move by FDA and CDC and Latypova, Breggin, and me and now Hulscher of McCullough’s FOCAL (and others) is/are on record saying this is a whole load of bullocks…a game. IMO we are being bullshitted up and down the river with no paddle.
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.
Yet the new FDA remains out of touch with both science and public opinion, as seen in its latest NEJM policy statement and VRBPAC’s decision to recommend even more mRNA booster shots this fall.”
NEWS ADDICTS
LATEST REPORTS FOR NEWS JUNKIES
Trump Addresses Possible Diddy PardonSpeaking with members of the press on Friday afternoon, President Donald Trump floated the possibility of issuing a presidential pardon to disgraced rapper Sean “Diddy” Combs, saying “it’s not a popularity contest” and “I would certainly look at the facts” if asked.In a federal indictment unsealed on Sept. 17, Combs was charged with racketeering conspiracy (RICO); sex trafficking by force, …READ THE FULL REPORT
M*A*S*H Star Loretta Swit Dies at 87Loretta Swit, best known for playing Major Margaret “Hot Lips” Houlihan on “MASH,” died Friday at her home in New York City at the age of 87.Swit’s representative, Harlan Boll, said the New York police reported her time of death at 12:01 p.m. Friday, according to Variety. It is believed the actress died of natural causes, according to the outlet.The …READ THE FULL REPORT
Burger King Employee Who Worked Last-Minute Shift in Graduation Clothes Gets Life-Changing GiftA local mom raised thousands of dollars for a freshly graduated Georgia high schooler after she saw him rush to work just hours after his ceremony, still in his graduation clothes.“Mykale Baker picked up a shift at the Dacula, Georgia, restaurant where he worked after seeing the late-night rush on May 21,” New York Post reported. “The 18-year-old had graduated …READ THE FULL REPORT
Bongino Discovered Comey’s Secret FBI Files: ‘You’re Gonna Be Stunned’Deputy FBI Director Dan Bongino said the American public is going to be “stunned” by the materials found in a room that date back to James Comey’s tenure as FBI director.President Donald Trump fired Comey shortly into his first term in 2017, with the president reportedly angered by Comey’s involvement in initiating and continuing the Russia collusion investigation into the …READ THE FULL REPORT
Supreme Court Hands Trump Win on Revoking Parole for 500k Foreign NationalsThe Supreme Court has granted President Trump a legal victory in his war against unfettered immigration and activist judges.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 …READ THE FULL REPORT
LATEST NEWS
FBI investigating attack in downtown Boulder, ColoradoSeveral people were injured after attack in downtown Boulder, Colorado, on Sunday after a man reportedly attacked bystanders with an incendiary device. Police confirmed that a male suspect was taken into custody shortly after they received emergency calls just after 1:26 p.m. local time. According to Boulder Police Chief Stephen Redfearn, witnesses reported a man wielding a weapon near the …READ MORE
Trump shares post saying Biden was executed, replaced with clonesPresident Donald Trump stirred controversy over the weekend by sharing a post on Truth Social claiming that President Joe Biden was executed in 2020 and has since been replaced by clones or body doubles. The original post, which Trump shared without comment, came from a fringe account and alleged, “There is no Joe Biden – executed in 2020. Biden clones, …READ MORE
LATEST REPORTS FOR NEWS JUNKIES
A-List Celebs Name-Dropped in Diddy’s Explosive Sex Trafficking, Racketeering TrialCelebrities continue to be name-dropped during explosive testimony in Sean “Diddy” Combs’ trial.Whitney Houston, Mike Myers and Mariah Carey are a few A-list stars who came up during testimony in the third week of Diddy’s sex trafficking and racketeering trial.The testimony in the 55-year-old music producer’s trial began May 12. The disgraced music mogul appeared in court to sit through …READ THE FULL REPORT
Declassified FBI Memo Shows Deeper Clinton Involvement in Russia Collusion HoaxA newly declassified FBI memo has revealed that Nellie Ohr, a contractor for Fusion GPS, likely provided false testimony to Congress regarding her involvement in the 2016 Trump-Russia investigation, a report noted on Saturday.The memo, released by Senate Judiciary Committee Chairman and Republican Iowa Sen. Chuck Grassley (R-Iowa), indicates that Ohr’s statements under oath contradicted evidence uncovered by the FBI.Nellie …READ THE FULL REPORT
Walmart Hit with Civil Penalties After Shipping Toy Gun to Liberal StateWalmart agreed to a settlement with New York officials after it shipped toy guns to the state. Authorities determined the world’s largest retailer facilitated the sale of realistic-looking toy guns to residents in violation of state law, an announcement said Tuesday. An investigation conducted by New York’s Office for Attorney General found that third-party vendors on Walmart’s online platform sold …READ THE FULL REPORT
Florida Mom Charged in Death of 6-Year-Old Son After Trying to ‘Exorcise Demons’ from HimA 41-year-old woman in Fort Pierce, Florida, is facing murder charges after authorities found her 6-year-old son dead and decomposing in his bed, nearly two weeks after he was last seen.Police discovered the body of Ra’myl Pierre on Friday following a call from school officials who had grown concerned after the child missed more than two weeks of school. According …READ THE FULL REPORT
Northern Lights Will Be Visible Across Most of US Thanks to a ‘Severe’ Geomagnetic StormThe northern lights are expected to put on a breathtaking show over parts of the U.S. Sunday night due to a powerful geomagnetic storm hitting Earth.The storm reached “severe” strength early Sunday morning, strong enough to push the glowing aurora borealis further south than usual — possibly lighting up skies from Michigan and Washington State, down to Northern California and …READ THE FULL REPORT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL AND NATURAL GAS//GLOBAL/ENERGY/
Alberta Wildfires Disrupt 7% Of Canada’s Oil Production
Monday, Jun 02, 2025 – 06:50 PM
Wildfires in Alberta, Canada — the country’s energy hub — have shuttered 344k barrels per day of oil sands production, or about 7% of national output.
Cenovus Energy, MEG Energy, and Canadian Natural Resources have halted output because of a 61,500-hectare blaze near the Saskatchewan border.
One of the 26 active wildfires is about 6 miles from 470k barrels bpd of oil sands production.
What’s critical to know:
Affected companies include Cenovus Energy, MEG Energy, and Canadian Natural Resources.
Roughly 470k bpd of production is within 6 miles of active fires.
Cenovus halted its Christina Lake site (238k bpd) last Thursday, expecting to restart soon
MEG Energy delayed restarting part of its 70k bpd site due to power outages.
Canadian Natural shut 36k bpd at its Jackfish 1 site after evacuations.
Important context: Canada produces 4.9 million bpd. It’s 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.
Alberta Premier Danielle Smith said on Monday that some 400,000 hectares have burned across the province, up from about 9,000 as of last week.
Any major disruption to Alberta’s oil production will tighten North American supply, push prices higher, and may force U.S. refiners to source costlier supplies elsewhere. It’s a risk worth monitoring—something Goldman analyst Adam Wijaya flagged late last week.
END
IRAN/MAYALSIA/CHINA
Oil Tankers Go Dark Off Malaysia As Sanctioned Iranian Crude Exports To China Acceler
Tuesday, Jun 03, 2025 – 03:00 AM
There has been much confusion over the Trump admin’s strategy regarding Iran and its oil exports.
While on one hand, the US has placed “maximum pressure” sanctions on Iranian oil exports to give the nuclear deal negotiations a help-along, the WSJ wrote in an editorial today that a White House directive was delivered last week to pause all new sanctions activity. The WSJ suggests that this is handing off some of the leverage that the USA currently has, and also represents a free-kick to the USA’s principal geopolitical competitor, China, who is by far the largest buyer of Iranian oil cargoes. The lighter touch on sanctions arrives at a time when OPEC+ has agreed to ramp up production by an additional 411,000 bbl/day. So, although crude oil prices are rallying today and face plenty of geopolitical risks on the road ahead, in the absence of a major risk event coming to fruition any rallies are likely to be capped by the plentiful supply outlook.
And while it now appears that the Trump admin is willing to extend Biden’s policy of Iranian appeasement if it means lower oil prices, shippers of sanctioned Iranian oil aren’t taking any chances, and according to Bloomberg tankers involved in a vital hub of the Iran-to-China oil trade are disappearing from digital tracking systems, as the threat of US sanctions – however fake they may be – forces tactical changes to keep crude flowing.
Over recent months, more vessels have started switching off their transponders as they near waters off eastern Malaysia, a hotspot for the ship-to-ship transfer of Iranian oil for transport to China. Previously, systems were rarely disabled, signaling when tankers anchored next to each other.
While the tactic of going dark is not new, it’s being used more regularly off Malaysia to avoid scrutiny. The White House says – at least it did – that the Iranian oil trade generates revenue that supports Tehran-backed militia groups including Hamas, and has sought to hobble flows through sanctions on ships, ports and refiners. That may have changed now that Trump’s primary goal is the same as Biden’s: to prevent a spike in oil prices.
“Ship-to-ship transfers have been used to mask the origin of those cargoes,” said Muyu Xu, a senior crude oil analyst at Kpler in Singapore. “Now they’re switching signals off for longer, so that it’s now even harder trace those flows back to the source, which is Iran.”
A recent example is the Vani, an unsanctioned very large crude carrier that was built in 2004 and has the capacity to carry 2 million barrels. The empty vessel signaled its position off eastern Malaysia on May 15, before going dark then and reappearing fully laden in the region five days later, according to ship-tracking compiled by Bloomberg.
While Vani was missing from digital tracking systems, the tanker conducted a ship-to-ship transfer on May 18 with the Nora, a US-sanctioned vessel that had collected Iranian crude from the Kharg Island export terminal, according to Kpler and Vortexa. Vani is now signaling Qingdao in China as its destination, data from the two analytics companies show.
Avani Lines Inc., based in the Marshall Islands and the registered owner of Vani, doesn’t have a listed phone number or email address for contact on the Maritime Portal run by S&P Global Inc.
China’s independent refiners are the biggest buyers of Iranian crude, attracted to the discounted barrels because they help buffer typically razor thin margins. While official Chinese data shows the nation hasn’t imported oil from the OPEC producer since 2022, third-party figures signal robust flows.
China imported around 1.46 million barrels a day from Iran last month, down from a five-month high in March, according to Kpler. Flows started to slip late last year but have since recovered. Other methods being used to keep the Iran-to-China trade in business include the use of zombie ships — vessels that take on the identities of scrapped tankers to appear legitimate.
In April, at least six ship-to-ship transfers off Malaysia were conducted with vessels that had disabled their transponders, including one with the Celine, a US-sanctioned ship, that had loaded Iranian oil from Kharg Island, according to Kpler. In the same month last year, only one tanker went dark.
Ships can be identified conducting oil transfers by analyzing satellite imagery, but the process is labor intensive and picture quality depends on the weather. It requires matching tankers to photos of vessels with known identities, a method that needs more time and can be prone to human error.
“It’s getting more and more difficult to track those sanctioned flows,” Emma Li, senior market analyst at intelligence firm Vortexa Ltd., said during a client presentation in Singapore in early April attended by Bloomberg News.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUE
CANADA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1412 DOWN 0.0041 PTS OR 41 BASIS POINTS
USA/ YEN 142.86 UP 0.430 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 1.3513 DOWN .0042 OR 42 BASIS PTS
USA/CAN DOLLAR: 1.3727 UP 0.0016 (CDN DOLLAR DOWN 16 BASIS PTS)
Last night Shanghai COMPOSITE UP 14.49 PTS OR 0.43%
Hang Seng CLOSED UP 354.52 PTS OR 1.53%
AUSTRALIA CLOSED UP .62%
// EUROPEAN BOURSE: MOSTLY ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 354.52 PTS OR 1.53%
/SHANGHAI CLOSED UP 14.49 PTS OR 0.43%
AUSTRALIA BOURSE CLOSED UP 0.62 %
(Nikkei (Japan) CLOSED DOWN 23.86 PTS OR 0.06%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 3357.95
silver:$33.27
USA dollar index early TUESDAY morning: 98.86 UP .23 BASIS POINTS FROM MONDAY’s CLOSE.
‘Squeezy’: Stocks & Bond Yields Jump After Labor Market J
Tuesday, Jun 03, 2025 – 08:00 PM
The market liked JOLTS data today with openings printing stronger than expected (7.391m vs 7.1m exp) helping alleviate worries into NFP on Friday…
The Small Cap outperformance lifted it above the 100DMA…
High Retail Sentiment was a standout as retail is long stocks and remains buyers alongside strong employment data…
Source: Bloomberg
While the bounce in the GenAI theme is garnishing much of the markets’ focus at the top of the index as of late, erasing all of the post-DeepSeek dive losses…
Source: Bloomberg
Under the hood, Goldman’s Peter Callahan points out that the stand-out dynamics today are the Small > Big and Laggard > Leader dynamics with the R2K Tech index > NDX by ~180 bps today (a top 5 daily spread this year) and our TMT Momentum Pair down -230 bps today (one of its worst days this year) – can also see our Most Short / TMT 12-mo laggard baskets up over 6% from yesterday’s lows…
Source: Bloomberg
.. in turn, bunch of investor inbounds on 1-off movers today [mostly 52wk low, squeezy names] with most of the action in my mind being chalked up to a bit of a ‘beta chase’ / squeeze today as SMID names work higher with the NDX breaking-out of a multi-week trading range (chart below) and now sitting just ~2.5% below ATHs, despite 3 of 6 names in Mega-Caps still solidly lower on the year…
Source: Bloomberg
Goldman trading desk notes that flow-wise, they were 690bps better for sale, led by LO supply in Cons Staples, Cons Discr, and Info Tech
LOs showing a 30% sell skew (buying Real Estate, Utes, and macro expressions vs selling Cons Staples, Cons Discr, and Info Tech)
HFs 550bps better to buy (buying HC, REITs, and Industrials vs Selling Comm Services and macro expressions).
NVDA moved back above MSFT to become the world’s largest market cap stock once again…
Source: Bloomberg
Treasury yields soared higher today despite mixed data (Factory orders ugly, Job Openings strong), perhaps on the heels of Bostic headlines, which came across as hawkish in a market that has been anticipating rate cuts.
Source: Bloomberg
Bostic said there’s no “glaring signs” of serious labor market deterioration, though there were signs of potential weakness, and that meanwhile there’s a way to go on inflation still.
“There’s still a ways to go in terms of the progress that we’re going to need to see,” Bostic said in a phone call with reporters Tuesday.
“I’m not declaring victory on inflation yet.”
There was more FedSpeak:
*COOK: THERE IS EVIDENCE TRADE POLICY STARTING TO AFFECT ECONOMY
*FED’S GOOLSBEE: HAVE TO WAIT AND SEE TARIFF IMPACT ON INFLATION
All of which sent rate-cut expectations (hawkishly) lower for 2025 and 2026…
Source: Bloomberg
Treasuries reversed overnight gains as yields surged during the US session (up 2-3bps on the day). The belly of the curve is underperforming on the day…
Source: Bloomberg
The dollar bounced higher today finding support at last week’s lows…
Source: Bloomberg
The dollar’s gains were gold’s losses…
Source: Bloomberg
Bitcoin’s price action was wild again – echoing yesterday’s dump and pump…
Source: Bloomberg
Oil prices held on to gains with WTI above $63 as geopol tensions (and a solid labor market signal) drive price…
Source: Bloomberg
Finally, back to where we started… VIX was down today to a 17 handle but Friday’s payrolls print is what every vol trader is watching…
Source: Bloomberg
Vol expected to drop dramatically after that… and new highs in stocks (but will good news payrolls print be good or bad for stocks)
BIG MORNING NEWS OF THE DAY
BIG AFTERNOON NEWS
USA DATA
US Factory Orders Plunged In April
Tuesday, Jun 03, 2025 – 10:09 AM
After surging in March – tariff-frontrunning dominated with the largest MoM rise since July 2020 – US Factory Orders tumbled 3.7% in April (worse than the 3.2% MoM decline expected). Also, the 4.3% rise in March was revised down to a 3.4% MoM rise…
Source: Bloomberg
The MoM drop was the biggest since Jan 2024 as tariff-frontrunning faded, dragging the headline orders down to just +0.9% YoY.
Core Factory Orders (excluding the more volatile Transportation sector) fell for the second straight month, down 0.5% MoM
Source: Bloomberg
That weakness dragged core factory orders down 0.08% YoY.
Is the ‘hard’ data and ‘soft’ data about to start converging?
Or is this ‘transitory’?
USA ECONOMIC NEWS
Nearly Half Of $700B In Homes For Sale Have Gone ‘Stale’ As Sellers Outnumber Buyers By 500K
There’s a total of $698 billion worth of homes for sale in the U.S., up 20.3% from a year ago and the highest dollar amount ever.
This is based on an analysis of listings on Redfin.com going back through 2012. For the total dollar value of all inventory on the market, we sum up the list price of all active U.S. listings as of the last day of each month; April 2025 is the most recent month for which data is available. For the purposes of this report, the term “value” is interchangeable with “list price”; i.e., when we refer to “total home value,” we mean the sum of all list prices. We define “stale inventory” as home listings that spend at least 60 days on the market and are actively listed for sale on the final day of the relevant month. Please see the end of this report for more on methodology.
The total value of U.S. home listings is at an all-time high because of the combination of growing inventory, slowing demand, and increasing home-sale prices:
Housing supply is at a 5-year high. There are many more sellers than buyers in the market. The total number of homes on the market nationwide rose 16.7% year over year in April to its highest level in 5 years, with the mortgage-rate lock-in effect easing and homeowners trying to cash out due to economic uncertainty. New listings increased 8.6% to a 3-year high.
Homes are sitting on the market longer. The typical home that sold in April took 40 days to go under contract, 5 days longer than a year earlier. There’s also a growing share of inventory that has been sitting on the market for longer than two months; see the next section of this report for more details.
Homebuying demand is falling. Home sales are declining, and Redfin agents in much of the country report that would-be buyers are backing off due to record-high monthly housing costs and widespread economic instability.
Home prices are rising. The median U.S. home-sale price rose 1.4% year over year in April. Note that the total value of inventory is up by much more, 20.3% year over year, which signals that in recent years, the rising number of listings is a bigger factor in the total value of inventory than rising prices.
Another Redfin analysis found that there are nearly 500,000 more home sellers than buyers in today’s housing market. The fact that so many homes are being listed without buyers out there to purchase them, along with continually rising prices, explains why there are 12 figures worth of unsold inventory sitting on the market.
“A huge pop of listings hit the market at the start of spring, and there weren’t enough buyers to go around,” said Matt Purdy, a Redfin Premier agent in Denver. “House hunters are only buying if they absolutely have to, and even serious buyers are backing out of contracts more than they used to. Buyers have a window to get a deal; there’s still a surplus of inventory on the market, with sellers facing reality and willing to negotiate prices down.”
Contrast today’s total value of inventory with the red-hot pandemic-era housing market, defined by tight supply. The total value of listings dropped to $309 billion in January 2022, the lowest dollar value in our records, which date back to 2012. At the start of 2022, mortgage rates were sitting at a near-record-low of 3.1%, homebuyers were hungry, and home supply was at its lowest level on record. Homes were flying off the market in 24 days, compared to today’s pace of 40 days.
Meanwhile, look at the spread between current mortgage rates and the average effective rate for all homeowners…
And then we have construction spending, which has fallen the most since COVID:
44% of Listings Have Been Lingering on the Market For 60+ Days
More than two in five (44%) listings in April had been on the market for at least 60 days without going under contract, which we refer to in this report as “stale inventory.” That’s up from 42.1% a year earlier, and the highest April share since 2020, when the start of the pandemic ground the housing market to a halt.
There’s $331 Billion Worth of Stale Inventory on the Market
The total value of that stale inventory is $331 billion, which accounts for nearly half of the dollar value of all inventory. That’s up 20.5% year over year.
“The record-high dollar value of all homes listed for sale is one way to quantify this buyer’s market,” said Chen Zhao, Redfin’s head of economics research. “Not only are there more homes for sale than there have been in five years, but the value of those homes is higher than it has ever been. We expect rising inventory, weakened demand, and the prevalence of stale supply to push home prices down 1% by the end of this year, which should improve affordability for buyers because incomes are still going up.”
500,000 More Sellers than Buyers?!
As Redfin reported late last week, there are 34% more sellers in the market than buyers.
There are an estimated 1.9 million home sellers in the U.S. housing market and an estimated 1.5 million homebuyers. In other words, there are 33.7% more sellers than buyers (or 490,041 more, to be exact). At no other point in records dating back to 2013 have sellers outnumbered buyers by this large of a number or percentage. A year ago, sellers outnumbered buyers by just 6.5%, and two years ago, buyers outnumbered sellers.
There haven’t been this many home sellers since March 2020. There haven’t been this few buyers at any point in records dating back to 2013 aside from April 2020, when the onset of the coronavirus pandemic brought the housing market to a halt.
The most recent data point in this analysis is April 2025. The estimated number of sellers in the market is simply the number of active listings in the MLS. To estimate the number of buyers, we created a model that uses data on pending sales and the typical time from a buyer’s first tour to their purchase. Scroll down for a full methodology and data on the 50 most populous U.S. metropolitan areas.
Redfin earlier this month predicted that home prices will drop 1% year over year by the end of 2025, and the growing imbalance between buyers and sellers is the basis for that prediction. When sellers are competing for a small pool of buyers, that indicates a buyer’s market. And when it’s a buyer’s market, home prices can fall because buyers have negotiating power.
Sellers outnumber buyers for several reasons:
It’s expensive to buy a home: High home prices and mortgage rates are scaring buyers off. The median home sale price rose 1.6% year over year to $431,931 in April. That’s the slowest growth in nearly two years, but monthly housing payments still hit a recordhigh last month because mortgage rates and prices remain elevated. The average 30-year-fixed mortgage rate was 6.73% in April—more than double the record low hit during the pandemic.
Economic uncertainty: Tariff talks, layoffs, and federal policy changes are among the other factors dampening homebuyer demand. A recent Redfin survey found that nearly 1 in 4 Americans is scrapping plans to make a major purchase due to tariffs.
The mortgage rate lock-in effect is easing: Homeowners who have been sitting on ultra-low mortgage rates they scored during the pandemic are now giving up those low rates and selling their homes. That’s because for most people, it’s not realistic to stay put forever; job changes, return to office mandates and divorce force people to move. The idea of taking on a higher mortgage rate also isn’t as shocking as it was when rates first skyrocketed in 2022.
“The balance of power in the U.S. housing market has shifted toward buyers, but a lot of sellers have yet to see or accept the writing on the wall. Many are still holding out hope that their home is the exception and will fetch top dollar,” said Redfin Senior Economist Asad Khan. “But as sellers see their homes sit longer on the market and notice fewer buyers coming through on tour, more of them will realize that the market has adjusted and reset their expectations accordingly.”
Sellers are already gaining more data points on this front, and will likely face another reality check in the summer, when demand typically starts to slow. More than two of every five (44%) home listings in April had been on the market for 60 days or longer—the highest April share since 2020. Stale inventory is piling up in part because many sellers are overpricing their homes, using sky-high comps from the recent seller’s market that aren’t realistic today. In some cases, sellers are pricing high because they bought at the peak of the market and are trying to recoup their investment.
The takeaway for sellers: Time is not on your side. If you are considering selling, do it sooner rather than later because home prices in your area may fall. If your home is already on the market and has been sitting for over a month, you may want to consider an improvement to your property or a reduction in price.
The takeaway for buyers: Many Americans have already been and will remain priced out of the housing market, even if prices decline. But for those who are still in the game, don’t get discouraged. Your purchasing power will increase if home prices fall, wages rise and mortgage rates remain steady as expected. Homes that would have been out of reach six months ago may come into reach as sellers entertain lower offers and concessions.
History Shows That Home Prices Cool When Sellers Outnumber Buyers
A change in the balance of buyers and sellers is a signal of what’s to come with home prices. Aside from the onset of the pandemic, the last time sellers significantly outnumbered buyers was around the time mortgage rates jumped in 2018.
In November 2018, the average 30-year-fixed mortgage rate peaked at 4.87%, which was the highest level in nearly eight years and almost a full percentage point higher than a year earlier. One month later, sellers outnumbered buyers by 9.4%—the largest percentage since 2015 and a reversal from the prior year, when buyers outnumbered sellers. Three months later, home-price growth shrunk to the lowest level in at least six years, with prices rising 2% from a year earlier to $283,912.
We saw a similar dynamic take hold in 2013-2014. As shown in the chart below, swings in the ratio of buyers to sellers are typically followed by similar swings in home-price growth.
oday, the imbalance between buyers and sellers is even greater, meaning there’s more pressure on prices. Annual price growth has already slowed to 1.6% from 6.2% last spring, and we expect this trajectory to continue, ultimately causing prices to fall. The last time home prices posted a year-over-year decline was 2023.
Even as mortgage rates surged in 2022, buyers outnumbered sellers. Sellers most recently started outnumbering buyers in November 2023—the month after mortgage rates hit the highest level in over two decades, peaking at almost 8%. Homebuyer demand has been sluggish ever since, and is likely to remain so given widespread economic uncertainty and recession fears. What has changed recently is more sellers have started entering the market.
Biden Autopen Scandal Widens As DOJ Investigates Pardons
Tuesday, Jun 03, 2025 – 02:40 PM
The Department of Justice (DOJ) is investigating pardons granted by former President Joe Biden – specifically looking at whether he was mentally competent to make decisions, and whether he knew about his administration’s copious use of Autopen.
According to an email from DOJ pardon attorney Ed Martin seen by Reuters, the investigation involves whether Biden “was competent and whether others were taking advantage of him through use of AutoPen or other means.”
Martin’s email states that the investigation is focused on said pardons to members of the Biden family, as well as clemency which spared 37 federal inmates from the death penalty – converting their sentences to life in prison.
Shortly before he left office, ‘Biden’ pardoned five members of his family, claiming he wanted to protect them from politically motivated investigations. Siblings James Biden, Frank Biden and Valerie Biden Owens, their spouses, and of course Hunter Biden all received pardons. Hunter had pleaded guilty to tax violations and was convicted on firearms-related charges. Some are suggesting that Hunter’s was the only one Biden may have actually signed…
“We’re gonna start looking into this whole thing with who signed this legislation. Who signed legislation opening our border? I don’t think he knew,” President Donald Trump told reporters on Capitol Hill last month while attending a closed-door meeting of House Republicans.
“Who was operating the autopen?” Trump asked, adding “You know who signed it? Radical left lunatics who were running our country. And the autopen signed it.”
Trump is now referring to the last administration as ‘The AUTOPEN’
According to a report issued late last month, most of Biden’s 162 executive orders issued over the course of his presidency were signed via AutoPen, a device used to automatically affix a signature to a document.
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.” -Washington Stand
Trump and his supporters claim that Biden’s use of the device invalidated his actions, which the former president – whose brain has consisted of pea soup for years – may not have been fully aware of. It’s unknown whether Biden used autopen on pardons, however a March investigation by the Heritage Foundation’s Oversight Project suggests most or all of them were.
In a March post to Truth Social, President Trump wrote: “The ‘Pardons’ that Sleepy Joe Biden gave to the Unselect Committee of Political Thugs, and many others, are hereby declared VOID, VACANT, AND OF NO FURTHER FORCE OR EFFECT, because of the fact that they were done by Autopen. In other words, Joe Biden did not sign them but, more importantly, he did not know anything about them!”
In March Trump acknowledged his own use of autopen – saying “We may use it, as an example, to send some young person a letter, because it’s nice.”
USTR Extends China Tariff Exemption to August 31, 2025 Sunday, June 1, 2025 This extension applies to products related to technology transfer, intellectual property, and innovation, which are key areas of concern in the ongoing trade dispute between the two nations… https://www.ainvest.com/news/ustr-extends-china-tariff-exemption-august-31-2025-2506/
Precious metals soared on Monday due to worsening geopolitical conditions.
During the first 20 minutes of NYSE trading, the DJIA and DJTA declined smartly while the NY Fang+ Index rallied modestly on Broadcom (+1.85% at 9:40 ET); Nvidia (1.3% at 9:40 ET); and Meta (+1.04% at 9:40 ET). USMs were -13/32 at 9:50 ET; the dollar was down moderately.
By 9:55 ET, August Gold hit 3401.30, +85.90. Oil and gasoline were up sharply despite the OPEC+ oil production hike.
ESMs opened moderately lower on Sunday and proceeded to decline until they hit the daily low of 5867.50 at 3:27 ET. ESMs then steadily rallied until they hit 5917.75 at 9:38 ET. The dump apparently then commenced; ESMs sank to 5870.50 at 9:59 ET. ESMs then jumped sharply on the standard retail investor of options that appears near 10:00 ET. ESMs hit 5916.00 at 10:37 ET.
ESMs then stair stepped high, hitting a daily high of 5948.00 at 15:24 ET. ESMs rolled over until someone juiced them from 5937/25 at 15:54 to the daily high of 5950.75 at 16:00 ET.
Powell did not comment on monetary policy or the economy during his address at 13:00 ET.
EU Warns It Could Accelerate Retaliatory Tariffs Over US Duties – BBG The EU’s trade chief, Maros Sefcovic, will meet with US Trade Representative Jamieson Greet on Wednesday in Paris…
The EU has larger crisis than Trump Tariffs. Old Europe is crumbling like Rome did.
@NewSamawal: France’s Interior Minister just released a 76-page report that should make every Western nation wake up. The Muslim Brotherhood is a clear and present danger to French national security—its numbers have doubled to 100,000, and it’s worming its way into mosques, schools, sports clubs, and NGOs. And guess who’s backing this insidious infiltration? Two foreign powers we all know too well: Qatar and Turkey. This isn’t just a French problem—it’s a blueprint for the West, and if we don’t act, we’ll be next. Open your eyes before it’s too late.https://x.com/NewSamawal/status/1929253029565390960
@WesternJournalX: Karol Nawrocki, A Conservative Historian and Political Newcomer, Has Been Elected President of Poland, Signaling Potential Shift in EU Relations.
Positive aspects of previous session Fangs rallied modestly. The Monday Rally and start-of-June buying appeared after the early decline.
Negative aspects of previous session Gold and precious metals soared, again. USMs declined as much as 30/32; the dollar declined smartly. Stocks declined moderately in early NYSE trading.
Ambiguous aspects of previous session Was the Monday equity rally mostly due to upward seasonal bias?
@BowesChay: It turns out that strategic bombers are parked in the open for a reason. This was done within the framework of the agreement of April 8, 2010, called SVN-3, which was signed by Russia and the United States when Dmitry Medvedev was president. Strategic bombers must be accessible for inspection. At bases, they are parked in open parking lots. This allows satellite reconnaissance and inspectors to check how many bombers there are and where they are. (To prevent surprise attacks)
@GOPIsrael: Reuters is reporting that Iran has rejected President Trump’s latest proposal to end the Islamic Republic’s nuclear program. Me: The window for a military response is rapidly closing. Israel needs to decide.
Today – Stocks rallied on Monday after sharp declines early on upward bias of Monday and start-of-the-month buying. Those props do NOT exist for today. Despite the aggressive retail and short-term trader buying on Monday, major equity indices were still mixed. The usual suspects concentrated their buying in the usual stocks: Fangs/Mag7. Barring news, the odds favor some type of retreat for equities today.
ESMs are -13.00; NQMs are -48.25; and USMs are +8/32 at 21:10 ET.
Expected Econ Data: April Factory Orders -3.1% m/m; April Durable Goods -6.3% m/m, Ex-Trans 0.1%; April JOLTS Job Openings 7.063m; May Wards Total Vehicle Sales 16.05m; Chicago Fed Pres & Obama acolyte Goolsbee 12:45 ET, Fed Gov Cook 13:00 ET, Dallas Fed Pres Logan 15:30 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
@ABCNewsLive: The man suspected of carrying out an “act of terrorism” during a pro-Israel demonstration in Boulder, Colorado, leaving eight people in the hospital, is in the United States illegally, according to DHS. https://x.com/ABCNewsLive/status/1929526447619621166
@StephenM: The Biden Admin granted the alien a visa and then, when he illegally overstayed, they gave him a work permit. Immigration security is national security. No more hostile migration. Keep them out and send them back.
The SCOTUS on Monday refused to rule on a 2nd Amendment case involving AR 15s. Justice Kavanaugh had the gall to smugly imply that the SCOTUS was ‘too busy’ to rule now but would do so at a future data. GOP Gov. DeSantis then excoriated the SCOTUS for this egregious abuse and arrogance.
@JoshMBlackman: J. Kavanaugh to 2nd Am: We’re Really Busy Now, Come Back in A Year or Two. “Additional petitions … will likely be before this Court shortly and, in my view, this Court should and presumably will address the AR–15 issue soon, in the next Term or two.”
DeSantis contemptuously averred that the SCOTUS rushes to help illegal immigrants but delays and dallies over fundamental rights cases for Americans.
@RonDeSantis: The Court has more urgency in bailing out illegal aliens than in upholding the rights of Americans — even in regards to an enumerated right in the Constitution.
@CWBChicago: Two men, including one who was on felony pretrial release, are charged with murdering a man on the Dan Ryan Expressway. Police allegedly found an Instagram video of them in the getaway car with the murder weapon posted 10 minutes after the crime. https://x.com/CWBChicago/status/1929329867755319382
The FBI and Mueller’s team hid Russiagate documents with a special coding in the FBI’s case management database.
Senior DOJ officials reportedly did not know that FBI agents and members of Special Counsel Robert Mueller’s team used a “Prohibited Access” code to make Russian collusion documents invisible.
This way, Mueller’s dirty Democrat lawyers could hide exculpatory evidence. Recall that General Flynn was forced into a ‘guilty plea’ of one count of false statements after partisan prosecutors tricked him and withheld Brady material.
2/2 Criminal defendants won’t be provided potentially exculpatory evidence; civil litigants won’t be provided relevant discovery–think FBI agents involved in censorship; Congress denied requested documents; Inspector General & Special Counsel don’t get all documents. ️️@fdrlst
— Margot Cleveland (@ProfMJCleveland) May 31, 2025
People familiar with the investigation into the Russia collusion hoax told The Federalist that senior officials did not know the FBI case management database, Sentinel, allowed agents to conceal the existence of evidence. Nor did anyone from Special Counsel Robert Mueller’s office mention that documents related to the investigation into the Trump campaign had been rendered invisible by use of the “Prohibited Access” coding in Sentinel — even though they knew the Department of Justice was investigating the origins and handling of the Crossfire Hurricane investigation.
On Monday, a former political appointee at the DOJ expressed surprise that no one from Special Counsel Mueller’s team mentioned the “Prohibited Access” functionality of Sentinel to senior officials. This news follows last week’s release by Sen. Chuck Grassley, R-Iowa, of a recently declassified FBI report that revealed that Special Counsel Mueller’s office used a “Prohibited Access” restriction during the Trump/Russia-collusion investigation.
In 2023, Special Counsel John Durham released his final report concluding the FBI had no verified intel when it opened the Crossfire Hurricane investigation into Trump in 2016.
The now infamous binder contains hundreds of pages about the Crossfire Hurricane scandal. It contains damaging information about the corrupt actors involved in our government.
In an explosive development in August 2022 following the FBI’s Mar-a-Lago raid, sources close to the high-profile investigation revealed that the FBI’s raid on Mar-a-Lago was explicitly aimed at recovering a “missing top-secret binder.”
This document is rumored to contain damning evidence of former President Barack Obama’s CIA and FBI involvement in initiating the Russia collusion narrative against President Trump.
The binder allegedly has intercepted transcripts made by the FBI on various Trump staff. It has the tasking orders and debriefings of Christopher Steele and Stefan Halper, the FBI’s main human sources in the Crossfire Hurricane scandal. There is a copy of the final FISA warrant approved by an intelligence court. It also contains details about Fiona Hill, who introduced Steele to the FBI, and much more.
The FBI has wanted these files hidden from the public and even raided Mar-a-Lago to prevent the information from getting to the masses.
A couple of weeks ago Kash Patel announced the bureau had uncovered a trove of hidden Russiagate documents. He said the documents will be released soon.
“I was the lead Russiagate investigator for the House Intelligence Committee…I’m telling you and the American public that we have found material and information and people who wanted to hide it from the world since we got in these seats,” Kash Patel said on “Sunday Morning Futures.”
WATCH:
BREAKING: Kash Patel announces new evidence linked to the Russiagate hoax has been found:
“I’m telling you and the American public.. We have found material, information, and people who wanted to hide it from the world since we got in these seats.” pic.twitter.com/JF80Sy6WA4
harveyorganblog.com 
